[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[drawingthesun]

What does it matter?
What are you going to do?
You can't trade your shares

For all the tens of thousands and hundreds of thousands many of us invested, we can't even get the dividends. The dividend is our property and we should get direct dividend payments as soon as possible.

I'm actually in need of these dividends as I have many things I want to do with them. Letting them sit in that address does me no good.

If we don't trade for several years (a realistic possibility at this rate) then Ken can setup a script hardcoded to take the dividend and send it out to all the shareholders addresses. This script can have the addresses hardcoded because it's not like they can change at all.

Many of us can help Ken build a simple script that plugs into perhaps BitcoinJ to do this. One of the hardcoded addresses can be to CryptoTrade so that they can be paid out via the trading platform.

Thanks Ken.

[1714133347]

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[VinceSamios]

It seems no ActM investor has ever been involved with anything legal... it takes fookin ages!

Chill pills folks. Things are moving in the right direction. <$2/GH hardware! WOWZERS!

[drawingthesun]

It seems no ActM investor has ever been involved with anything legal... it takes fookin ages!

Chill pills folks. Things are moving in the right direction. <$2/GH hardware! WOWZERS!

That was my point Vince, it's likely we will be waiting a few years until the share trading situation resolves. The key to Government is to bleed companies dry of time as a means to render them inert.

Anyway, before it's 2016 and we still are not trading, I would very much like my dividends.

[Simon Templar]

I know this post will be controversial but I'm going to play Devil's advocate.  We don't need a financial report and shouldn't see one for the next three months.   Here's why;

We don't need a financial report to see how little money ActiveMining has.  That information has been posted in the last few pages with links.  We don't need a financial report to prove that Ken is doing what he says he is because the Data Center has a climbing hashrate and small numbers of miners have been reported in the wild.  We don't need a financial report to know that the company's situation is precarious and are we essentially living from hand to mouth to stay afloat.  Whatever money we did have has been invested in the FastHash chips and hardware and the cost of setting up the Data Center.  There has not been any money to continue with developing our own chip.  That's a fact.  In order for ActiveMining to succeed over the next few months we need to sell many miners but crucially we also need the next Bitcoin wave of adoption to happen.  Without a substantial rise in the value of Bitcoin we are totally sunk.  

So with a financial report what we have is evidence to back up everything I've just said.  Can you imagine the reaction on this thread as people vent their anger and frustrations when they realise how we are barely keeping our heads above water?  I think Ken is doing a fantastic job and will keep on fighting well after most shareholders have totally given up and for all his faults, he's clearly doing his very best.  Can we ask anything more than that?

So keep the financial report Ken until either the company is in a commanding position or as soon as you'd like every troll, neigh sayer and ActiveMining critic to say, " I told you so".

Feel free to comment on this post but the Devil's advocate won't respond.  

[drawingthesun]

Without a substantial rise in the value of Bitcoin we are totally sunk.

I wouldn't mind bitcoin going to <$10 again, so I can buy back the hundreds of bitcoin I lost to this company.

[lobbes]

I know this post will be controversial but I'm going to play Devil's advocate.  We don't need a financial report and shouldn't see one for the next three months.   Here's why;
...

Zum... is that you?  

I jest...

I would agree with DTS that a dividend disbursement system should be set up. This would definitely provide some 'good faith' towards investors, but I would bet the response would be: 'In legal hot-water right now, wait a few more weeks'

[Simon Templar]

It seems no ActM investor has ever been involved with anything legal... it takes fookin ages!

Chill pills folks. Things are moving in the right direction. <$2/GH hardware! WOWZERS!

That was my point Vince, it's likely we will be waiting a few years until the share trading situation resolves. The key to Government is to bleed companies dry of time as a means to render them inert.

Anyway, before it's 2016 and we still are not trading, I would very much like my dividends.

Give it a rest about your bloody dividend dust.  It will be a cold day in Hell before Ken pays you, or anyone, any dividends while there is a risk the company could run out of money.  That's the way it should be and that's the way it is.  And stop being so ridiculous with your outlandishly-bleak-sky-is-falling statements, it's really starting to wear thin for everyone.  Man up FFS!  You invested so deal with it.

[minerpart]

I wouldn't mind bitcoin going to <$10 again, so I can buy back the hundreds of bitcoin I lost to this company.

So you are not as broke as you keep suggesting you are.

[drawingthesun]

I wouldn't mind bitcoin going to <$10 again, so I can buy back the hundreds of bitcoin I lost to this company.

So you are not as broke as you keep suggesting you are.

Lol I am broke, but I am desperate to get my coins back. If bitcoin went to $10 I would sell my car, TV, coffee machine, half my computers.

Apart from my appliances I have nothing, remember it would only take $5,000 to get back to where I was if bitcoin was $10.

[minerpart]

If btc gets to ten dollars it will be dead and not worth buying. You keep making bad investment decisions?!

Buying actm was not a bad decision, putting all your coin on one horse was.

[drawingthesun]

If btc gets to ten dollars it will be dead and not worth buying. You keep making bad investment decisions?!

Buying actm was not a bad decision, putting all your coin on one horse was.

Yeah you're right.

I have little left I guess I am desperate.

I've been meaning to stay away from this investment and let it go, but it still occupies my mind.

[tempestb]

The purpose of financial reports is to make sure the man in charge has been spending the money correctly.  Our shares go towards profits, if the money was spent on things outside the scope of the business then Ken would be in violation of those agreements and we could discuss replacing him for someone who could take the business in an appropriate direction.  On the other hand, if the money was spent on things that just failed to materialize through no fault of his own, just bad luck or bad choices, then we can rest easier knowing that the money invested is being sunk into what we paid for.

It's why any company shows its books to share holders.

Don't underestimate that someone else could have bought a data center and hosted miners months and months earlier than Ken did.  And the rewards would have been greater.  We're also under the thumb of an investigation that we've seen no proof of which is limiting our ability to get out from being investors in the first place.  Other than total forfeiture which I'm not willing to do. 

We should not have to rely on the assurances of one person.  Evidence should be provided.  The data center and miners are an ok investment.  Though the falling value of Bitcoin coupled with the rising hashrate does not make for a good investment right now.  Hopefully things turn the page on that soon.

[BitSwe]

It seems no ActM investor has ever been involved with anything legal... it takes fookin ages!

Chill pills folks. Things are moving in the right direction. <$2/GH hardware! WOWZERS!

Irrelevant as long ActM is unable to ship properly.

[neilol-real]

Rockminer shares look like they are going to be traded in a decentralized way:

https://bitcointalk.org/index.php?topic=395761.0

Looks further along than Chroma wallet, just a suggestion

https://twitter.com/RockMinerInc/status/458829421231603712

[kslaughter]

Hey Ken, just a few more questions.

1) Any possibility you can send out dividends?

Not until we get shares up and trading and the MSD Investigation is settled.

2) Are we constructing our own ASIC still?

Yes, we are still working on it.

3) Any chance we can buy ASIC IP from Hashfast?

Good question.

4) Did peoples ASIC actually help us at all? How much have they been paid via bitcoin, USD or shares.

Yes, we own a working ASIC IP.  Also, a lot of intangibles we received.  No bitcoins, or USD was paid.

5) We need to add 1,000TH/s per month beginning 2015 to be able to maintain 1% of the network. Can we do this? Does your projections account for this?

We are in an excellent position to do this.

6) Are we buying the entire hardware all together at much less than $1/GHs?

We are working all the time to remain competitive.  As you might have noticed our new Gold Rush board is < $2/GH retail.

7) The Gold Rush boards, we know they are Hashfast design, but who builds them? ActiveMining contractor OR as some know suspect, Hashfast themselves?

We are building our own boards using Hashfast design and their ASIC chip.  We have our own CM's.

[cedivad]

We have our own CM's.

CM? Contract Manufacturer?

What about the missing 4900 boards you promised for April?

[Simon Templar]

Do you mean 5000 chips?  Can you share a quote please?

[neilol-real]

4) Did peoples ASIC actually help us at all? How much have they been paid via bitcoin, USD or shares.

Yes, we own a working ASIC IP.  Also, a lot of intangibles we received.  No bitcoins, or USD was paid.

Can we get any color around the acquisition? I assume they were paid in common shares out of your personal ownership?

I'd like to get confidence there was no alteration of the capital structure or change in preference of the AMC share dividends - in other words, are their interests aligned with shareholders?

[cedivad]

Do you mean 5000 chips?  Can you share a quote please?

Of course it is, this is our development board from hashfast.  We are in the process of tooling our production line to build 5,000 boards in April.

[Simon Templar]

Weekly Update 4/23/2014.

Datacenter:

We are up to 64.34 Th/s and expect by the end of the month to be around ~170 TH/s.  Everything is in place to expand our hash rate to this level.

VMC:

We have announced our Gold Rush boards and have had a very positive response.  We are now training and switching our help to do more shipping than build of the mine.
We have 100 Gold Rush boards in stock for immediate shipping.  We have worked out the logistics for this.

MSD:

Nothing new at this time.

Shares:

Nothing new at this time.

Ken could you clear up the meaning of the text above that I've bolded.  It suggests that we will be at 170 TH by the end of the month which is only one week away.  Did you actually mean we will be at 170 TH one month from now?