[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[Ozymandias2]

It is difficult to ignore the massive amounts of ill-will towards VMC on this forum. It may be prudent to perhaps begin advertising elsewhere.

[1714808005]

1714808005

[elmwar]

Ken.  Release the financial reports.  You have a responsibility to do this.

Manners cost nothing. How about a hi, please and thankyou next time?

minerpart

I haven't been rude.  I've been direct.  Also, I have not been "asking" Ken to do this, so "please" is not appropriate.  

Ken has a responsibility to inform investors what's he's done with their money.  Detailed information should have been presented long ago.  Ken agreed to release the information by a certain time which has passed.  The small bits of information we've received in the past are very questionable to me.  Others seem to have the same concern.  There is even discussion of a 3rd party audit.  Shareholders deserve this information.  It's not something that should be asked for.  Ken works for us.

Without this, nobody will be able to make informed decisions when trading is again possible.  Ken would be free to do whatever he likes with investor money.  It's the only thing to prevent Ken from gambling with our funds on just-dice or cex.io.  Not that he'd do that.  It's also the only way we investors can measure success and decide to invest more or get out.  Open reporting is good for everyone.

Thank you for your advice.  I hope this better explains my point of view and intent behind posting.  I try not to post without good reason.  Ken has not deleted any of my posts, so hopefully he hasn't taken offense.  But he's also not responded, so maybe he doesn't think it's as important as we do.

elmwar

[elmwar]

Ken.  Release the financial reports.  You have a responsibility to do this.

We have hired an accounting firm to get these done.  With the new IRS ruling, the firm is having to look at how that affects our books.  When we release the financial reports they will be audited reports.

Thank you for the response.  Please keep us updated.

[minerpart]

I haven't been rude.  I've been direct.  Also, I have not been "asking" Ken to do this, so "please" is not appropriate.  

I wouldn't respond to your post either if I were Ken.

You freely admit you are demanding that Ken do this. Ordering a stranger to do something is being plain rude. It is also disrespectful. You have no authority over Ken to demand him to do anything shareholder or not. And you don't need to drop good manners and respect for someone to be direct with them.

You sound like the sort of person who thinks they can order waiting staff around in a restaurant because you think you have some sort of authority over them. I've got news for you, all human beings are equal and employing someone does not mean you attain a right to disrespect them.

[minerpart]

Thank you for the response.  Please keep us updated.

Good manners gets the best out of people. It shows you respect them and when you do that they will respect you back. Ken has had enough disrespect thrown at him to last a lifetime on this forum and I'm not too happy standing by letting that happen anymore to a stranger who could potentially make me a lot of money. But it's not just the money, no-one deserves to be treated the way Ken has been on here. I can't imagine what actually being in our CEO's position with all the pressure would have done to me over the past 8 months. I would have given up for sure, maybe turned to drink/drugs.

Just saying I have a very low tolerance for anything that has a go at our CEO now. No-one needs to be disrespectful to question the business decisions being made. Keep it professional and ask whatever or suggest whatever but ordering people about is not the way to make progress in any business.

[knybe]

@Ken et. al.

so this just went live: CounterWallet (very beginning stages but looks more promising and understandable that ColoredCoins)

[knybe]

btw Ken, I just wanted to humbly say: Good Job…

I'm really enjoying coming on here and reading your ongoing progress reports and seeing the TH/s go up up up.

Thanks for proving me way wrong


EDIT: Now, just get us our shares this week and you'll put prevailing sentiment and morale on the surface of the Moon.

[shaofis]

@Ken et. al.

so this just went live: CounterWallet (very beginning stages but looks more promising and understandable that ColoredCoins)

In my estimation; CounterParty looks far more refined than colored coins.

[byt411]

Can I ask again, since everyone ignored me,
what happened to the transferred shares on BitFunder?

[drawingthesun]

Can I ask again, since everyone ignored me,
what happened to the transferred shares on BitFunder?

Nothing, we are waiting to be allowed to trade on either counterparty, coloured coins or cryptotrade. So far it's wait and see.

[byt411]

Can I ask again, since everyone ignored me,
what happened to the transferred shares on BitFunder?

Nothing, we are waiting to be allowed to trade on either counterparty, coloured coins or cryptotrade. So far it's wait and see.

How about the dividends? Are they accumulated and then paid out once exchange is up?

[MilkyWayMasta]

Can I ask again, since everyone ignored me,
what happened to the transferred shares on BitFunder?

Nothing, we are waiting to be allowed to trade on either counterparty, coloured coins or cryptotrade. So far it's wait and see.

To use counterparty do you need XCP?

[drawingthesun]

How about the dividends? Are they accumulated and then paid out once exchange is up?

The dividends have been stored here:

https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa

They have been relatively flat but now we are putting more power online we might see more.

I don't remember if we get all the dividend from this address once we are trading, some must be used for reinvestment.

[drawingthesun]

To use counterparty do you need XCP?

I have no idea how it works, but someone did tell me that only the issuer needs XCP and that you only need about $20 worth to make millions of shares.

[shaofis]

To use counterparty do you need XCP?

The issuer needs to purchase a small amount of XCP to issue the asset. Once issued those trading in or owning the asset do not have to transact with XCP.

Now that they've added dividends in BTC the platform looks pretty interesting.

[MilkyWayMasta]

To use counterparty do you need XCP?

The issuer needs to purchase a small amount of XCP to issue the asset. Once issued those trading in or owning the asset do not have to transact with XCP.

Now that they've added dividends in BTC the platform looks pretty interesting.

And they have an exchange? If so, how's the liquidity compared to crypto-trade?

[knybe]

Can I ask again, since everyone ignored me,
what happened to the transferred shares on BitFunder?

Nothing, we are waiting to be allowed to trade on either counterparty, coloured coins or cryptotrade. So far it's wait and see.

To use counterparty do you need XCP?

some info from reddit: http://www.reddit.com/r/Bitcoin/comments/22erxg/counterwallet/cgm46jb

Counterparty is like colored coins on steroids. You can

• declare that a tiny amount of BTC is equivalent to some asset, and exchange your asset, e.g. stock, for BTC; or store it or send it
• bet on the outcome of sporting events, presidential elections, and quite literally anything under the sun. What will people bet on when there are no rules, restrictions, or requirements for personally identifiable info?
• broadcast information, e.g. a price feed, from an address, which is distributed across the network
• pay dividends on user-defined assets

All this in a trustless P2P environment running on open source software.
Counterwallet is a Bitcoin wallet that enables Bitcoin storage, and tracking of user-defined Counterparty assets side by side. It's like what you would get if you put an open source client-side stock market on Blockchain.info, and users could trade with each other directly there, and it couldn't be shut down. Goes well with Tor browser.

[MilkyWayMasta]

Can I ask again, since everyone ignored me,
what happened to the transferred shares on BitFunder?

Nothing, we are waiting to be allowed to trade on either counterparty, coloured coins or cryptotrade. So far it's wait and see.

To use counterparty do you need XCP?

some info from reddit: http://www.reddit.com/r/Bitcoin/comments/22erxg/counterwallet/cgm46jb

Counterparty is like colored coins on steroids. You can

• declare that a tiny amount of BTC is equivalent to some asset, and exchange your asset, e.g. stock, for BTC; or store it or send it
• bet on the outcome of sporting events, presidential elections, and quite literally anything under the sun. What will people bet on when there are no rules, restrictions, or requirements for personally identifiable info?
• broadcast information, e.g. a price feed, from an address, which is distributed across the network
• pay dividends on user-defined assets

All this in a trustless P2P environment running on open source software.
Counterwallet is a Bitcoin wallet that enables Bitcoin storage, and tracking of user-defined Counterparty assets side by side. It's like what you would get if you put an open source client-side stock market on Blockchain.info, and users could trade with each other directly there, and it couldn't be shut down. Goes well with Tor browser.

What does killerstorm think about it? He is the developer for Colored Coins.

[knybe]

...
What does killerstorm think about it? He is the developer for Colored Coins.

I would imagine it's competing directly with his hard work, but if CP is actually easier to use (i.e. intuitive UI) then it will be the winner…

Last time I looked at the ColoredCoin UI, I was more than a little baffled as to proper usage.

[JoTheKhan]

How about the dividends? Are they accumulated and then paid out once exchange is up?

The dividends have been stored here:

https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa

They have been relatively flat but now we are putting more power online we might see more.

I don't remember if we get all the dividend from this address once we are trading, some must be used for reinvestment.

Technically after a very informal vote. 50% of the Dividends are going to go out to public shares and 50% into reinvestment (This vote was back in November though the choice is solely up to Ken). Lately there has been a movement to have 100% of Divs/Mining Profit to go into reinvestment until we are at a comfortable place of growth.

If you have an opinion on either path please feel free to state it. Though the decision comes down solely to Ken.