[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[LorenzoMoney]

Jasun,

It is fine if you want to make up new definitions for words, but the word induction does have a specific meaning in physics and electricity.
This is a good place to start: http://en.wikipedia.org/wiki/Electromagnetic_induction

What you are saying is simply 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      
[/quote]

[Jasun7211]

Jasun,

It is fine if you want to make up new definitions for words, but the word induction does have a specific meaning in physics and electricity.
This is a good place to start: http://en.wikipedia.org/wiki/Electromagnetic_induction

What you are saying is simply 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      

[/quote]

I'm not exactly talking about electromagnetic induction, but it is closely related. Think maglev trains, or the hypnosis technique (snap induction) for a more applicable meaning. I don't have the time or a wikipedia link longer than yours to prove my point, so I guess you win.  Remember who it was to point out to all of you exactly what Intellehash is(if it ever comes into existance is another story).  just sayin. 

Anyway bact to ACTM....let's atleast look into some HHO generators to keep electricity costs low. 

Besides

[JoTheKhan]

Anyways..

So Ken, I'm glad you have fully addressed ACTM share issues and I won't keep pestering you about this (this will be the last time I bring shares up until you bring shares up again so the ball is fully in your court) but, (1) can you set up some way for us to verify our shares.

If this is a simple spread sheet that list BTC addresses and their shares or it list their bitfunder Username and their shares (as you should have the BTC address for those who didn't tender their shares and the Username for the people who did).

(2) Can you address either the 28nm project or your idea for where you reasonably would like ACTM to be come Q3/Q4 of 2014.

(3) Can you give us an update of when you expect to have some form of financial spreadsheets for public view. (The April 1st Deadline has passed, so an updated deadline would be nice.) You have contradicted¹ yourself on this subject and some clarification would be lovely.

Thanks.

1. At one point it was stated that the Financial auditor was already acquired, in a later announcement it was stated that you guys are beginning or now in the process of acquiring a financial auditor (I believe the later, if not both of these announcements were after the self imposed April 1st Deadline set by yourself).

[cryptoconomist]

Ken, I've been receiving 7 emails from VMC in the space of 15 minutes with confusing, inaccurate and contradicting content. VMC is making a mess of my order, I've still haven't received the tracking ID for the parcel you've committed to ship me last Monday and I need you or someone to call me or emailed me back immediately with clarity! I've emailed VMC my phone number which is also visible in the backend of my order page.

FYI this refers to orders: ZZCZQMDVL and QNSJBYJUB

This situation is unacceptable!

[emkay47]

Ken, I've been receiving 7 emails from VMC in the space of 15 minutes with confusing, inaccurate and contradicting content. VMC is making a mess of my order, I've still haven't received the tracking ID for the parcel you've committed to ship me last Monday and I need you or someone to call me or emailed me back immediately with clarity! I've emailed VMC my phone number which is also visible in the backend of my order page.

FYI this refers to orders: ZZCZQMDVL and QNSJBYJUB

This situation is unacceptable!

Dude i've been waiting for 20 days now , I have just received 1 of my 5 ordered prospector boards .
I am still wondering , why would they ship just 1 boards in the first place , when i ordered 5 , together in a single order 

[PurpleTentacle]

Would be nice if Ken could tell us what he's been paying for recently:

https://blockchain.info/address/16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP

[lobbes]

(1) can you set up some way for us to verify our shares.

If this is a simple spread sheet that list BTC addresses and their shares or it list their bitfunder Username and their shares (as you should have the BTC address for those who didn't tender their shares and the Username for the people who did).

(2) Can you address either the 28nm project or your idea for where you reasonably would like ACTM to be come Q3/Q4 of 2014.

(3) Can you give us an update of when you expect to have some form of financial spreadsheets for public view. (The April 1st Deadline has passed, so an updated deadline would be nice.) You have contradicted¹ yourself on this subject and some clarification would be lovely.

Thanks.

1. At one point it was stated that the Financial auditor was already acquired, in a later announcement it was stated that you guys are beginning or now in the process of acquiring a financial auditor (I believe the later, if not both of these announcements were after the self imposed April 1st Deadline set by yourself).

+1

I would add "When do you anticipate the remaining 150 TH/s to be online?"

[tiaguitah]

https://www.cryptsy.com/currencies/view/139

Any opinions on this?

Getting listed on cryptsy.

[klondike_bar]

Quote from: kslaughter on May 27, 2013, 02:21:51 PM
Quote from: Shasoudas on May 27, 2013, 09:05:56 AM
Would publishing AMC's bitcoin address add transparency since we can see proof of purchase of Avalon chips, etc.

I think it would:  Here is the address we are holding bitcoins at to purchase the chips:  16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP
We would like to purchase a full batch as group purchases have a commission of about 9.5%
----



looking forwards to financial reports, since the movement of ACTM funds is astounding, as well-blurred as anything mtgox ever did. here are some addresses to start the hunt at:

https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa?filter=1     (all the sent funds from the current eligius mining address)
https://blockchain.info/address/16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP  (where most of these funds went, a known account of ken's that was to purchase chips from)
https://blockchain.info/address/1HtoMBUKzRgS5X9WdnwZiQKQccvWBCPGx
https://blockchain.info/address/1LJDfEYvBG18LNXUG6xeSCrs3B4sdBKb1D    (200BTC came here and then was split into 4 50BTC addresses)
https://blockchain.info/address/1MLqgV2E3GRDTXYxpDzGqTnnekuuC8i8GV (1 of said addresses - split into 4 more new addresses)
https://blockchain.info/address/1M9fztr3SKAw6iZjFeiR6V99qtmed6Ro8V  (follow the chain, one address ends here and still holds funds that were put in 3 days ago)
https://blockchain.info/address/1HpDXKMfNd5Z6rUVvk5oEdN2nRbF47D6WY (another address with 98BTC, most of which is split evenly into 4 new addresses TODAY)

who knows which of these are under the control of ACTM or hashfast?  It seems very strange that ken has no financials after the APril 1st deadline, and the funds are dispersed over a HUGE expanse of small addresses, rather than a few large publicly-known addresses for auditing purposes.

^and before anyone says a big single address is a bad idea - it isnt. Bitmain has something like 20,000 bitcoins held in a single address safely. everyone can see bitmain's holdings in a simple transparent way.

[minerpart]

Well all you can say is that money has come out of the ACtM Wallet. This may have gone to a supplier and as we need to pay suppliers I think that's the most likely answer. Boards and chips don't come for free.

Everything is traceable as you have shown. If the financials when we see them don't corroborate these balances, payments and movements of funds we will be able to see that. I'm afraid with ANY company which has the CEO as acting CFO you need to trust that individual. You invested in Ken so you placed your trust in him.

[kslaughter]

Quote from: kslaughter on May 27, 2013, 02:21:51 PM
Quote from: Shasoudas on May 27, 2013, 09:05:56 AM
Would publishing AMC's bitcoin address add transparency since we can see proof of purchase of Avalon chips, etc.

I think it would:  Here is the address we are holding bitcoins at to purchase the chips:  16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP
We would like to purchase a full batch as group purchases have a commission of about 9.5%
----



looking forwards to financial reports, since the movement of ACTM funds is astounding, as well-blurred as anything mtgox ever did. here are some addresses to start the hunt at:

https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa?filter=1     (all the sent funds from the current eligius mining address)
https://blockchain.info/address/16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP  (where most of these funds went, a known account of ken's that was to purchase chips from)
https://blockchain.info/address/1HtoMBUKzRgS5X9WdnwZiQKQccvWBCPGx
https://blockchain.info/address/1LJDfEYvBG18LNXUG6xeSCrs3B4sdBKb1D    (200BTC came here and then was split into 4 50BTC addresses)
https://blockchain.info/address/1MLqgV2E3GRDTXYxpDzGqTnnekuuC8i8GV (1 of said addresses - split into 4 more new addresses)
https://blockchain.info/address/1M9fztr3SKAw6iZjFeiR6V99qtmed6Ro8V  (follow the chain, one address ends here and still holds funds that were put in 3 days ago)
https://blockchain.info/address/1HpDXKMfNd5Z6rUVvk5oEdN2nRbF47D6WY (another address with 98BTC, most of which is split evenly into 4 new addresses TODAY)

who knows which of these are under the control of ACTM or hashfast?  It seems very strange that ken has no financials after the APril 1st deadline, and the funds are dispersed over a HUGE expanse of small addresses, rather than a few large publicly-known addresses for auditing purposes.

^and before anyone says a big single address is a bad idea - it isnt. Bitmain has something like 20,000 bitcoins held in a single address safely. everyone can see bitmain's holdings in a simple transparent way.

All of our holding are held in the first two addresses above.  The first being our mining account, the second being our general funds account.  Some of the other accounts are either our coinbase accounts for converting funds to pay our bills, or our vendors accounts where we paid them in bitcoins.

[kslaughter]

We are starting to issue refund checks starting today.

[minerpart]

Can you prioritize shipping Ken? I know it's not yet a big part of our business but if you don't get boards shipped out promptly after an order is taken then people will rightly be disappointed and sales won't take off as they should because of the resulting negative feedback. I'm sure you are more than aware that a sold miner is instant payback and generates instant profit that can go back into expanding the business. Ta.

[emkay47]

Exactly Ken ,
Its been 20 days , 1 difficulty up already .
What is the point of '' immediate delivery '' , when its no where near that .
Even the 1 board which i have received already , was shipped after 12 days .

I also placed order for Harness Kits a week back , even that is not shipped yet .

What does this all even mean Ken ?

[kslaughter]

Announcing our Gold Rush mining card:

In Stock ready to ship:

$1,499.00 .89 Watts per GH, 750 GH/s +/- 10%

PM me for orders for 10 units and over.  On our website soon for single orders.

Limited availability.

[neilol-real]

Announcing our Gold Rush mining card:

In Stock ready to ship:

$1,499.00 .89 Watts per GH, 750 GH/s +/- 10%

PM me for orders for 10 units and over.  On our website soon for single orders.

Limited availability.

Good news - lets hope emkay47 is shipped 4 of these for his unexplained delay..

[wonker]

Announcing our Gold Rush mining card:

In Stock ready to ship:

$1,499.00 .89 Watts per GH, 750 GH/s +/- 10%

PM me for orders for 10 units and over.  On our website soon for single orders.

Limited availability.

Good news - lets hope emkay47 is shipped 4 of these for his unexplained delay..

++

[minerpart]

Announcing our Gold Rush mining card:

In Stock ready to ship:

$1,499.00 .89 Watts per GH, 750 GH/s +/- 10%

PM me for orders for 10 units and over.  On our website soon for single orders.

Limited availability.

750GH/s for 1.5k USD is good. If you run this machine for 6months and BTC averages $750 over that six month period the profit will be around $4,555 and break even is around 50 days.

[tempestb]

750GH/s for 1.5k USD is good. If you run this machine for 6months and BTC averages $750 over that six month period the profit will be around $4,555 and break even is around 50 days.

Except it's not averaging at $750, so this is dumb.  It will currently earn back 4.1 bitcoin based on average difficulty increases before it is unprofitable to mine at .15cents a kwh.  Since it costs about 3 coins to buy one, you'll make 1.1 coins. 

[Flashman]

My crystal ball sayeth, that the absolutely most pessimistic, sky is falling, depressively paranoid, lowest high, will be around $2000 in mid July this year.

Ergo, calling for a $750 average over 6 months from now is very conservative I think. Best if you can cover the electricity out of pocket for now and hodl, though.