Simon Templar
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April 12, 2014, 12:56:25 PM |
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What Ken's achieving is great and I'm delighted to see us hashing at 24TH/s now, although I have my concerns that this new found good will is likely to erode unless we are able to trade soon. EDIT: I like Flashman's thinking!  |
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minerpart
Sr. Member
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Activity: 280
Merit: 250
IIIIII====II====IIIIII
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April 12, 2014, 01:06:09 PM |
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Kenneth,
Just had a thought, might be a bit of a rabbit trail, but HashFast customers are eventually supposed to get a compensation plan paid out in bare ASIC chips. Just wondering if VMC could offer a product or service for them to get their ASICs put on boards or ASICless boards supplied or something. That's an "If and when" thing though.
Good call Flash. We could offer our board to them - if we can retail it at less than the HF board it could be a seller. |
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klondike_bar
Legendary
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Activity: 2128
Merit: 1005
ASIC Wannabe
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April 12, 2014, 02:23:22 PM |
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Kenneth,
Just had a thought, might be a bit of a rabbit trail, but HashFast customers are eventually supposed to get a compensation plan paid out in bare ASIC chips. Just wondering if VMC could offer a product or service for them to get their ASICs put on boards or ASICless boards supplied or something. That's an "If and when" thing though.
hashfast is doing that? That is the scuzziest thing i have ever heard that they could do - who the hell wants a bare ship to make up for the fact they were owed hashrate months ago? The bare chip is a useless hunk of silicon to 98% of customers who do not own an assembly line and rights to a PCB design. Thats worse than selling equipment to ACTM when hashfast customers are owed it first and foremost |
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chairforce1
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April 12, 2014, 02:37:19 PM |
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I found this in another thread, I'm assuming it's real and I wanted to bring it to Ken's attention. Hi Ken, Kris committed to come back to me over 2 weeks ago regarding my query, but I haven’t heard back from her nor from anyone at VMC.
I’m one of your very early pre-order customers (order QNSJBYJUB - August 13) and you and I spoke back in November when VMC was planning to delivery gear by the end of Dec, beginning of Jan at the latest. We then agreed on what my miner’s specs were going to look like given the initially ordered machine was no longer going to be sustainable nor profitable due to shipping delays.
Kris then told me a few weeks back that you were finally about to deliver and your posts/updates seems to imply that you’re now at that stage.
The issue here is that while I should be expecting to be one among your early deliveries, I still don’t know what exactly I’m going to receive. Kris committed to confirm within a couple of days from my email what the exact specs would be to fairly allow me to decide whether I want a refund or keep my order, but all I got is silence.
Given I’ve kept faith in you and been waiting for 7 months now, could you kindly confirm how much hashing power does the miner you’re planning to send me has and when should I expect to receive it by? Before you answer, I pre-empt I expect a RADICAL hashing increase from what you offered me in November.
Thanks
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Death is nothing to us, since when we are, death has not come, and when death has come, we are not. #yolo
-Epicuru$
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sparky999
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April 12, 2014, 03:37:32 PM |
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@Ken I was under the impression that once the A/C was installed (which you said was done yesterday) it would simply be a case of turning on the already set-up and configured 60Th - yet we are still at 25Th. Was there an issue yesterday with the A/C or were the 60Th of mining equipment not yet set up and if not when do you anticipate us reaching that first target?
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knybe
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April 12, 2014, 03:38:35 PM |
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Holy Howling ASIC banshees... wow. Nice to see this video on the front page of r/bitcoin |
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cedivad
Legendary
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Activity: 1176
Merit: 1001
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April 12, 2014, 03:41:12 PM |
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hashfast is doing that? That is the scuzziest thing i have ever heard that they could do - who the hell wants a bare ship to make up for the fact they were owed hashrate months ago? The bare chip is a useless hunk of silicon to 98% of customers who do not own an assembly line and rights to a PCB design. The MPP comes with the board - but you guys should demand the ASICs now instead of the board in September. Think at what you could have done with the "useless silicon" in January. Posted from Bitcointa.lk - #DT2EdtbULkJWU0EB |
My anger against what is wrong in the Bitcoin community is productive: Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)Hashfast.org - Wiki for screwed customers |
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VinceSamios
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April 12, 2014, 04:36:21 PM |
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The farm just went offline... I have a hashrate alarm script for eligius - Ken, if you don't have an alarm system, let me know and I'll get it sent over to you.
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kslaughter
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April 12, 2014, 05:39:27 PM |
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The farm just went offline... I have a hashrate alarm script for eligius - Ken, if you don't have an alarm system, let me know and I'll get it sent over to you.
Yes, please send it to me. Thanks, Ken |
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MilkyWayMasta
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April 12, 2014, 06:20:44 PM |
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Hey Ken, can you let us know if you have the chips for the new boards you'll be printing out soon?
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kslaughter
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April 12, 2014, 06:27:02 PM |
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Hey Ken, can you let us know if you have the chips for the new boards you'll be printing out soon?
We have a deal for the chips for our current production run of boards. |
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MilkyWayMasta
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April 12, 2014, 06:30:12 PM |
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Hey Ken, can you let us know if you have the chips for the new boards you'll be printing out soon?
We have a deal for the chips for our current production run of boards. Is that for the 200 boards a week production run? Have you received the chips yet? |
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tiaguitah
Member
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Activity: 111
Merit: 10
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April 12, 2014, 06:43:26 PM |
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Any news on VMC sales website being upgraded?
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sparky999
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April 12, 2014, 06:48:46 PM |
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Hey Ken, can you let us know if you have the chips for the new boards you'll be printing out soon?
We have a deal for the chips for our current production run of boards. Is that for the 200 boards a week production run? Have you received the chips yet? Ken has already stated that the deal is for enough chips for the 5000 boards. |
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minerpart
Sr. Member
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Activity: 280
Merit: 250
IIIIII====II====IIIIII
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April 12, 2014, 06:52:17 PM |
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The farm just went offline... I have a hashrate alarm script for eligius - Ken, if you don't have an alarm system, let me know and I'll get it sent over to you.
Looks like we r back online. Out for about an hour and fully back to where we were. Can we claim that down-time as a loss of earnings with the IRS? |
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chairforce1
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April 12, 2014, 07:07:06 PM |
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Is that for the 200 boards a week production run? Have you received the chips yet?
We have a deal for the chips for our current production run of boards.
Weekly Updated 4/9/2014...
...Our run of our Rev 3 boards has started and we expect to roll off the line 200 PCB's a week for the next 3 weeks.
Ken I have a few questions for you: -When you say "we expect to roll off the line 200 PCB's a week for the next 3 weeks.", am I right in assuming that this does not mean the datacenter will be able to add 200 mining cards a week? -If so, how much of a lag will there be between producing the boards and having on a functioning mining card online? -When you say "for the next 3 weeks" in your update, does that include this week of the 4/9 update or next week. -Are there any additional obstacles standing in the way of the datacenter reaching 60TH? and Any news on VMC sales website being upgraded?
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Death is nothing to us, since when we are, death has not come, and when death has come, we are not. #yolo
-Epicuru$
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minerpart
Sr. Member
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Activity: 280
Merit: 250
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April 12, 2014, 07:21:27 PM |
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Yeah I know was just joking about the tax  It's the same situation with Capital Gains Tax in the UK (you pay 20% or whatever on the gains/ profit from holding coins/stocks/shares). But there is no tax imposed on the mining of coins in the UK. I'm sure all our costs and losses will be put into the accounts to lessen out tax burden. |
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drawingthesun
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April 12, 2014, 07:22:02 PM |
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Also some general questions for when Ken has the time: - Assuming we sell no more boards, that would leave us with about 60Th/s worth of boards plus about another 100Th/s due soon correct? Will ActiveMining be hashing at 160Th/s at the end of April assuming no more boards are sold? - The 5,000 boards will be ready around June/July correct? Are we able to purchase the chips now for these boards or are the chips going to be paid for with the current mining returns from the 20Th/s - 60Th/s online? - Will you consider BarGraphics friends offer to host 5,000 boards assuming we sell zero. - Will hardware sales be turned into bitcoin for our dividend, or would you rather use that money now for reinvestment and keep the mining return as a dividend to shareholders? - Will you be able to pay dividends to our verified addresses assuming we are not trading? - I am unsure about the feasibility of ColouredCoins, waiting on them is unwise. Could we instead accept Havelocks offer and get us trading on their exchange, it's possible they will be up for a few more months and hopefully when they fail these wizz bang decentralized asset classes will be mature and usable. - Can you update us on the situation regarding our legal standing? - Do you have any information regarding the ActiveMining and Peoples ASIC developed 28nm ASIC chip? Are we making any progress at all or is it currently "wound down" waiting for better times? Thanks Ken. |
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drawingthesun
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April 12, 2014, 07:23:54 PM |
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Yeah I know was just joking. Opps, my bad. I can be a complete idiot sometimes a lot.  It's the same situation with Capital Gains Tax in the UK (you pay 20% or whatever on the gains/profit from holding coins/stocks/shares). But there is no tax imposed on the mining of coins in the UK.
No tax on mining coins? If this is not set to change, we really should consider setting up a division in the UK and ship some of the rigs over there. |
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minerpart
Sr. Member
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April 12, 2014, 07:32:01 PM |
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No tax on mining coins? If this is not set to change, we really should consider setting up a division in the UK and ship some of the rigs over there.
The only problem I see is that don't the IRS insist you pay tax no matter where you earn profit in the Globe? Maybe that applies only to US individuals and a US company branch of ACtM would be free from US tax obligations? There are no plans to tax mining here or anywhere in Europe as far as I know. Most nations are taxing the gains accrued on the value of the held coins. So as I understand it a mined coin if sold at the same value it was when it was mined will be liable for no tax in Europe but taxed at 20%ish in the US. So that is a loss of $200 on every coin mined if BTC is at $1k? A UK datacentre would be great me and zumzero and Jimmy and Vince could staff it no doubt.  |
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