[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[canth]

KNC has 7PH not 17. And they will likely never go above 8PH since they are limited to a 10MW datacenter.

1,000PH would require 10% of swedens electricity..

If KNC have 10% of the network (2,500PH/s) at the end of the year we can expect that to be around 250PH/s.

Also they are about to release their 20nm very soon, it'll likely allow for these gains. I could be wrong.

I'm starting to think that Cryptocurrencies might be one of the most environmentally unfriendly forms of barter.

If you compared the production and consumption of massive amounts of physical fiat currency (printing, movement, storage, cost, etc.) to the energies it takes to create crypto-currrencies, I'm sure cryptos would come out more abundantly environmentally sound.

Exactly - as an example, what do you imagine it costs to run 489,000 Western Union locations? I'll bet that alone uses more electricity than preserving the blockchain. When you add the fact that traditional remittance can't compete with Bitcoin on either features or price then you start to understand just how minor the cost of proof of work is vs operating the current financial environment.

[emkay47]

Have anyone else , except Bargraphics , received their Prospector Boards ?

I converted my November Paid Pre-Order to Prospector boards 12 days back .
Its been showing ''Shipped'' Since 2 days , But i have not been provided with any tracking number .

What is the status Ken , Please provide the tracking info .

You should be able to contact customer service with issues like these. I'd be curious to hear how easy it is for customers to get in touch with VMC through the proper channels. Could you try and report back?

I have ask the project manager to have the staff enter the tracking information into the shopping cart.

Guys , I have finally received the tracking number , and it shows ''Picked Up'' .
I got a bit confused as i thought it to be a DHL shipping , But i read it here , that ken stated FED-Ex guys will be picking it up .
So , i tried the tracking number on Fed-Ex page , It worked

I appreciate it Ken , Sorry to bug you with tons of messages :p

I cant believe this is happening .
After waiting for almost 20 days , I receive only 1 prospector board , and not 5 which i ordered .
Ken , this is really not fair .

You made me wait for so long , i placed and order for 5 Prospector boards and you just send me 1 .
I really can't believe this is happening .

Ken , where are my other 4 boards ?

Guys here are the images of my delivery :- http://imgur.com/a/7Azsb

Ken , this is not right buddy .
I paid you full amount in November , and after 5 months , i get 1 prospector board .

Please , ship the rest 4 cards immediately .

So guys , its been 20 days , i converted my November paid pre-order to 5 x Prospector Boards .
So far , i have only received 1 prospector board . I was told that somehow they did not ship rest of my 4 boards along with 1 i received . I'm tired messaging on website as well to Ken .
I have no idea when my rest 4 board will actually ship .

I even ordered a few Harness Kits around a week back , even that has not been shipped yet .

Ken , please speed up your logistics , I don't seem to understand why would it take 20 days to ship out a few boards which where placed on order together .

If its going to take more time to ship out , let me know , i might be able to arrange a friend of mine to pick those up from you and my friend can DHL it to me .

Ken , please sort this out .

[minerpart]

Come on VMC dispatch team, we should be doing much better than this.

[Simon Templar]

Ken, could you look into this personally and post back when you have the situation sorted.  We need to avoid bad PR like this and emkay's order should have been dealt with as a priority due to its high profile nature. Yes I know people shouldn't get preferential treatment but getting this guys hardware out to India was an opportunity to demonstrate how well ActiveMining could get products to its customers, not highlight weaknesses in this area.

[emkay47]

emkay,  your last post has been edited in such a way as to suggest that your words are mine.  Can you sort this please because we don't want to misrepresent ourselves.  I hope your delivery issues get resolved in a timely manner.  

Ken, could you look into this personally and post back when you have the situation sorted.  We need to avoid bad PR like this and emkay's order should have been dealt with as a priority due to its high profile nature. Yes I know people shouldn't get preferential treatment but getting this guys hardware out to India was an opportunity to demonstrate how well ActiveMining could get products to its customers, not highlight weaknesses in this area.

This is the original post that emkay edited;

How do you know the other four aren't in transit?  Maybe they were shipped as individual items?  Why not set up the first one today instead of waisting your time on this forum and see if the rest arrive in the next couple of days before condemning AMC?  Also this thread is going to get rather cluttered if it's used by customers and not shareholders as the title suggests.  Surely there are other threads for this kind of thing?

That would be a bizarre way to ship multiple products that were all in stock to a country as far away as India. Which I believe is where emkay is located. I think is assumption that there was a screw up is entirely reasonable.

I just got informed , that they shipped in 5 different boxes .
I asked Ken for the rest 4 tracking numbers .

Ah, I see. Now maybe we ought to encourage customers to use the other threads instead of inviting them to update us throughout the entire process on this one. Just a thought. No offence emkay and happy hashing!  

Sorry for the issue , i guess i quoted them wrong .
I have fixed it .

Sorry for the trouble .

Ya , and i don't intend to put a bad word for ken or VMC or stuff , its just i have never said anything else bad which is not related to shipping issues . Thanks for the support Simon .

Ken , I apologise , but i am just updating stuff .

[chairforce1]

12 hours           50.72 Th/s   510156304   
3 hours           51.04 Th/s   128340416   
22.5 minutes   54.55 Th/s   17147472   
256 seconds   57.05 Th/s   3400327   
128 seconds   60.16 Th/s   1792963

We may have hit 60. turbulence.

[minerpart]

Still in 10th place on the chart run-down though. If we get a new entry at No. 9 then we can celebrate. We need more College Radio plays.

[snowdropfore]

Still in 10th place on the chart run-down though. If we get a new entry at No. 9 then we can celebrate. We need more College Radio plays.

celebrate for what?? 100th to da moon~~~

[drasted]

Weekly Update 3/19/2014

We are expecting the next increase in hashing power to be ~100 TH/s within a month for a total of ~200 TH/s.

So we're meant to be hashing at ~200TH/s now. What happened? I know there was some issues with the cooling but, that's been resolved for some time now and we still aren't particularly close to 200TH/s

[drawingthesun]

Weekly Update 3/19/2014

We are expecting the next increase in hashing power to be ~100 TH/s within a month for a total of ~200 TH/s.

So we're meant to be hashing at ~200TH/s now. What happened? I know there was some issues with the cooling but, that's been resolved for some time now and we still aren't particularly close to 200TH/s

Ken, any chance you can get the other 150TH/s online in the next 24 hours? I think ActiveMining have only sold about 10TH/s worth of miners so it can't be because we sold them.

[Simon Templar]

Weekly Update 3/19/2014

We are expecting the next increase in hashing power to be ~100 TH/s within a month for a total of ~200 TH/s.

So we're meant to be hashing at ~200TH/s now. What happened? I know there was some issues with the cooling but, that's been resolved for some time now and we still aren't particularly close to 200TH/s

Your quote is out of context and misleading.  Here is the full quote;

Weekly Update 3/19/2014

Here is the good news for March, we are rolling off the production line ~100 TH/s of mining gear which will be installed in our soon to be leased data-center.  We are expecting to have the 100 TH/s up and running on our BTCGuild account in the next 2 weeks, so everyone will be able to see the new hashing power.  We will then convert to sole mining over the next month.  After the first 100 TH/s is on line we will be increasing our hashing power on a regular basis.  We are expecting the next increase in hashing power to be ~100 TH/s within a month for a total of ~200 TH/s.

Active Mining PR Staff

As you can read, the first 100 TH (later revised to 60 TH) was expected to be up and running in two weeks and the second 100 TH within a month of that.  So that's a total of 6 weeks for the 200 (160) TH.

Between the 4-7th April, 20 TH was fired up but cooling issues placed things on hold.

On the 10th of April, Ken informed us that the data center was waiting for an AC part which was then installed on the 11th April.  So from the 11th of April we have seen a steady increase in hashrate taking us up to ~56 TH in 11 days.  Without the AC delay Kens estimation of two weeks has been fairly accurate and using these figures I would suggest that the revised schedule for 160 TH being online has a deadline of 17th May and the 240 TH by 14th June.

So we are already in phase 2 which is adding more power to be able to install a total of 240 TH as we move over to the revision 2 boards.

Progress has been steady and at this rate I would estimate 100 TH to be turned on every month.  As I, and others have said before, Ken needs to find a way to speed this process up.  If it's hiring more staff, opening a second data center or whatever, 10 months to get 1 PH isn't going to make us as competitive as we need to be imo.

I'm keen to hear from Ken, what is his long term plan to expand the data center and make it, "..the biggest mining farm in the World."?

tl;dr - expect 240 TH online by 14th June in ActiveMining's Data Center

[JoTheKhan]

Weekly Update 3/19/2014

We are expecting the next increase in hashing power to be ~100 TH/s within a month for a total of ~200 TH/s.

So we're meant to be hashing at ~200TH/s now. What happened? I know there was some issues with the cooling but, that's been resolved for some time now and we still aren't particularly close to 200TH/s

Your quote is out of context and misleading.  Here is the full quote;

Weekly Update 3/19/2014

Here is the good news for March, we are rolling off the production line ~100 TH/s of mining gear which will be installed in our soon to be leased data-center.  We are expecting to have the 100 TH/s up and running on our BTCGuild account in the next 2 weeks, so everyone will be able to see the new hashing power.  We will then convert to sole mining over the next month.  After the first 100 TH/s is on line we will be increasing our hashing power on a regular basis.  We are expecting the next increase in hashing power to be ~100 TH/s within a month for a total of ~200 TH/s.

Active Mining PR Staff

As you can read, the first 100 TH (later revised to 60 TH) was expected to be up and running in two weeks and the second 100 TH within a month of that.  So that's a total of 6 weeks for the 200 (160) TH.

Between the 4-7th April, 20 TH was fired up but cooling issues placed things on hold.

On the 10th of April, Ken informed us that the data center was waiting for an AC part which was then installed on the 11th April.  So from the 11th of April we have seen a steady increase in hashrate taking us up to ~56 TH in 11 days.  Without the AC delay Kens estimation of two weeks has been fairly accurate and using these figures I would suggest that the revised schedule for 160 TH being online has a deadline of 17th May and the 240 TH by 14th June.

So we are already in phase 2 which is adding more power to be able to install a total of 240 TH as we move over to the revision 2 boards.

Progress has been steady and at this rate I would estimate 100 TH to be turned on every month.  As I, and others have said before, Ken needs to find a way to speed this process up.  If it's hiring more staff, opening a second data center or whatever, 10 months to get 1 PH isn't going to make us as competitive as we need to be imo.

I'm keen to hear from Ken, what is his long term plan to expand the data center and make it, "..the biggest mining farm in the World."?

tl;dr - expect 240 TH online by 14th June in ActiveMining's Data Center

Thanks +1

[snowdropfore]

as we see so many scams, all i hope that is actm is not a scam, i an here for the long term. so  get the hashrate up and up , do not be so quickly but steady. and keep developing actm own chips and make actm the biggest mining farm in the world

[LorenzoMoney]

Jasun,

We (and which "we" do you mean?) do not think of electricity as the creation or either endothermic or exothermic reactions. Actually, electricity is created either through the transformation of physical energy (motion) into electrical energy, by rotating magnets (either permanent or electro-magnets) around coils.  That in fact is induction. Or it is created chemically, and the side effect is heat, but the way the electricity is formed is through the movement of electrons from one pole to another within some chemical substrate.

People who go and and on about free electricity and perpetual motion machines are as stupid as people who insist the earth is only 6,00 or so years old or that there was no event such as the Big Bang or that there is no evidence for evolution.

Unless you have built such a device, have evidence in the form of a published research paper in a physics or engineering journal that is credible, then you are talking nonsense.

Now that we have had this diversion, let's return to talking about what Ken is doing, when shares will be traded and anything that has to do with Bitcoin or ActM.

Kind of but not really.  It is a Tesla patent and the blue prints are now a available.  We tend to think as electricty creation from exothermic, and endothermic reactions....this creates electricity via induction.    You have to change what they tought you in public school about electricity(similar to bitcoin vs. Fiat)....if anything at all.  It does work.

[LorenzoMoney]

Well, boys, I was just reading this thread https://bitcointalk.org/index.php?topic=529946.0

Remember the good ol' days when Ukyo had that great website where people could trade shares in fluff and vapor?

Ah! The memories!

At one time, I actually regretted having invested so much in ActM instead of NeoBee. NeoBee looked like it was being run by competent people who had an understanding of the financial industry and had a real plan and were organized and had their act together.  Yes, I regretted invested in ActM instead of NeoBee.

[minerpart]

NeoBee looked like it was being run by competent people who had an understanding of the financial industry and had a real plan and were organized and had their act together.  

[my emphasis]


Indeed and I mentioned this recently. You could argue ACtM has proven to be the best of a very bad bunch, we are still trading and still solvent - in this space that is sadly very rare.

[funkymunky]

Well, boys, I was just reading this thread https://bitcointalk.org/index.php?topic=529946.0

Remember the good ol' days when Ukyo had that great website where people could trade shares in fluff and vapor?

Ah! The memories!

At one time, I actually regretted having invested so much in ActM instead of NeoBee. NeoBee looked like it was being run by competent people who had an understanding of the financial industry and had a real plan and were organized and had their act together.  Yes, I regretted invested in ActM instead of NeoBee.

Ironically, I am grateful we've not had dividends in a while or even the chance to sell shares as I can categorically say that i would have put all my dividends and sold 20% of my ActM holdings and put that all into NeoBee.

Thank you Ken..... 

[minerpart]

I can categorically say that i would have put all my dividends and sold 20% of my ActM holdings and put that all into NeoBee.

Thank you Ken..... 

lol

I only have 1k of NeoBee but agree it seemed such a professional outfit I would have gladly put 30% into them even very recently.

[Jasun7211]

Jasun,

We (and which "we" do you mean?) do not think of electricity as the creation or either endothermic or exothermic reactions. Actually, electricity is created either through the transformation of physical energy (motion) into electrical energy, by rotating magnets (either permanent or electro-magnets) around coils.  That in fact is induction. Or it is created chemically, and the side effect is heat, but the way the electricity is formed is through the movement of electrons from one pole to another within some chemical substrate.

People who go and and on about free electricity and perpetual motion machines are as stupid as people who insist the earth is only 6,00 or so years old or that there was no event such as the Big Bang or that there is no evidence for evolution.

Unless you have built such a device, have evidence in the form of a published research paper in a physics or engineering journal that is credible, then you are talking nonsense.

Now that we have had this diversion, let's return to talking about what Ken is doing, when shares will be traded and anything that has to do with Bitcoin or ActM.

Kind of but not really.  It is a Tesla patent and the blue prints are now a available.  We tend to think as electricty creation from exothermic, and endothermic reactions....this creates electricity via induction.    You have to change what they tought you in public school about electricity(similar to bitcoin vs. Fiat)....if anything at all.  It does work.

Yes but how do you get those magnets to spin???  Some kind of external energy force.....Burning, falling water, nuclear reaction.  
Think of it this way.  A true inductor of energy (not one driven by external forces) is like calling a dog.  You spend a tiny bit of energy ( amount of energy to voice the dog's name) to recieve a lot of energy (the dog itself).....that is true induction.  Solar energy and panels are more true induction than any traditional energy creation methods.  The energy is already in the air via heated excited electrons from the sun... Any air that has a temprature above absolute zero has energy stored in it. Think of a light bulb and how about 80% of the energy produced in a light bulb manafests its self as heat.....why not call it a heat bulb.....  This is stuff we all learned in 8th grade   science, and just requires a little perspective shift.  It does work trust me.

On a less abstract note that fits this current paradigm's thinking of how energy is created look at all the HHO generators out there, that are just finally making it to the public conciousness.  They have been around for years, and is generally the first expirement that we all do when taking High School chemestry.   Perhaps we can invest in Some HHO technology to keep electric costs down.  I know this works because I ran my old dirt bike off it, and worked awesome.

For proof of any of this there is a website called google.com.  Try it out.....although I am more of a fan of Yahoo.com for nostalgic reasons, google.com will work just fine      

[damiano]

as we see so many scams, all i hope that is actm is not a scam, i an here for the long term. so  get the hashrate up and up , do not be so quickly but steady. and keep developing actm own chips and make actm the biggest mining farm in the world

It's not a scam.  Ken is clearly trying and making good progress now.  We're only waiting to trade our shares at the moment which is still up in the air.   You can thank Volcanic shit bag for that