[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[Ozymandias2]

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?

Yes, that was almost certainly a typo. Ken previously said that he plans on getting the farm up to 100th/s by the end of this month and an additional 70th/s next month (for 170th/s total).

EDIT:

Announcing our Gold Rush mining card:

Great news.

How will this affect sales of the Prospector?

Can VMC handle the logistics if this becomes a popular item seeing as there have been many issues with the small amount of Prospector boards sold so far?

Will any of these boards be added to the mining farm?

The problem with the logistics is that our people have been working on our mining farm.  After the mining farm is built, then there should not be a problem.

Can you share specific information in regards to how much more hash power is going to be added? A detailed time line would be great. Are we going to be using the new Gold Rush mining card for our farms from here on out? Please let us know. Thanks.

Yes, we will be using the Gold Rush cards in our farm after we install all of our Prospector cards.  Time line has been set, 100 TH this week, then up to ~170 TH within the next month.  We have just install enough power to do this.  That is if we don't sell to many of our Gold Rush cards.

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[Simon Templar]

Thanks for clearing this up Ozy.  It looks as though we'll be in at number 2 in the Eligius Top of the Pops in around 10 days.  I'm starting to feel rather bullish again after Ken's last post.  It appears I've been unduly concerned about the long term prospects and that we are in much better shape than I'd thought.  I still maintain we need the next Bitcoin wave so that we can breath a bit of air, but I'm sure most startups are in the same position.

[minerpart]

We should make money even with btc averaging 300 dollars over the next 5months - but yes a rally will help us no end. Only benefit to btc where it is could be smaller difficulty increases. BTW stop stealing my top of the pops patter, get your own.

[Simon Templar]

Four more boards pop pickers and we're up one to seven. 

[knybe]

man… you guys go on and on in circles for days about various and random stats when in reality none of it really fucking matters until IF and WHEN we get out SHARES.

FFS.

[kslaughter]

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?

No, we have everything in place and my Project Manager has told me to expect ~170 TH by the end of the month.  It may take a week or so longer as there are only a few more days left in this month, but we do have everything is place to put THs on line quick.

[minerpart]

 

[knybe]

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?

No, we have everything in place and my Project Manager has told me to expect ~170 TH by the end of the month.  It may take a week or so longer as there are only a few more days left in this month, but we do have everything is place to put THs on line quick.

none of this information is relevant to us until we are trading shares and receiving dividends… in other words: directly benefiting from stated information.

until then, you are effectively running your own mining operation and evading your obligations to your shareholders.

[minerpart]

knybe we know this, you and others have said it repeatedly, it's getting very tired now. You have been given an answer and it involves the MSD. Get over it already.

[MilkyWayMasta]

knybe we know this, you and others have said it repeatedly, it's getting very tired now. You have been given an answer and it involves the MSD. Get over it already.

+1  

[knybe]

Weekly Update 4/23/2014.

….

MSD:

Nothing new at this time.

Shares:

Nothing new at this time.

Ken, please provide some kind of proof that you are being investigated?

It seems to me that you are stalling and using the investigation claim to drag this out.

Provide proof and I'll go and climb back under my little rock.

[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?

No, we have everything in place and my Project Manager has told me to expect ~170 TH by the end of the month.  It may take a week or so longer as there are only a few more days left in this month, but we do have everything is place to put THs on line quick.

Wow!  Thanks Ken, this is excellent news and it'll sure be good for PR to redirect resources to the pressing matters of back orders, refunds, website upkeep, sales & marketing and product delivery.  Its great to see progress and I'm looking forward to seeing ActiveMining overcoming its issues and growing from strength to strength.

[drasted]

No, we have everything in place and my Project Manager has told me to expect ~170 TH by the end of the month.  It may take a week or so longer as there are only a few more days left in this month, but we do have everything is place to put THs on line quick.

If it may take a week or so longer then don't promise it to be ready in a couple of days. It's better to under promise and over deliver rather than constantly miss deadlines. I'm happy you clarify it here, i just feel like pointing it out as you tend to miss a lot of deadlines

And can you please address what is happening with the financial report. Missing deadlines is bad but sometimes it's unavoidable. Missing deadlines and then just ignoring it makes you look incompetent

[arousedrhino]

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?

No, we have everything in place and my Project Manager has told me to expect ~170 TH by the end of the month.  It may take a week or so longer as there are only a few more days left in this month, but we do have everything is place to put THs on line quick.

none of this information is relevant to us until we are trading shares and receiving dividends… in other words: directly benefiting from stated information.

until then, you are effectively running your own mining operation and evading your obligations to your shareholders.

Knybe,

Why do you insist on asking for the impossible over and over again? He cannot make the shares tradable due to the MSD investigation so rather than beating that horse to death like you seem to enjoy doing why don't we ask Ken for something that he can do.

Lets ask Ken to setup a site where we can verify that we do actually own the shares that we sent to AMC-TENDER. Since we sent our shares to another person technically none of us own shares or can provide proof that we own them via a BitFunder Address without Ken's BitFunder transfer records since AMC-TENDER now owns all our share.

Please Ken, reassure shareholders that they do own their shares by setting up a site which verifies the number of shares you own. We don't need to trade them or even get dividends at this time. That can wait until the MSD investigation is done. Just knowing that we can still claim our shares successfully would reassure many of your long term investors in this company.

[drawingthesun]

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.

I'm sorry but this isn't good enough. I can understand the investigation putting on hold the ability that more people buy into this company.

However I cannot understand how the investigation matters concerning the dividend. We are owed that no matter the investigation outcome.

We need the dividend now Ken, this is utterly unacceptable.

Thanks Ken.

[equipoise]

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.

I'm sorry but this isn't good enough. I can understand the investigation putting on hold the ability that more people buy into this company.

However I cannot understand how the investigation matters concerning the dividend. We are owed that no matter the investigation outcome.

We need the dividend now Ken, this is utterly unacceptable.

Thanks Ken.

+1

[WildFire.ca]

I can't see any reason why we should not be getting our dividend. I would also like to see some paperwork from the gov stating that we are under investigation. I am wondering if you can just call up the governing agency and just ask if they have us under investigation. I would also like to point out that this investigation only affects American shareholders.

[minerpart]

I am wondering if you can just call up the governing agency and just ask if they have us under investigation.

I asked Ken months ago if it would be a good idea for a couple of shareholders to get in touch with the MSD to tell them we are happy with the shares being traded but he said it would be best to let his lawyer (who he had just hired) deal with it. They are not going to impart any info to a cold caller I don't think. They will be dealing with this lawyer and any other non-official contact will be filtered out. They are not there for dialogue but to investigate a complaint and connect directly with the relevant parties. It would be like calling the IRS and asking if your neighbor was being investigated - legally they probably can't comment.

As I see it they are looking at/ruling on a possible technical breech of the securities regulations in Missouri. So yes it just applies to US but specifically just MO citizens I think. The deciding factors will include have securities actually been issued? Have they been issued in MO? Have any MO residents bought any? etc etc. It is a grey area and the MSD might be waiting for legal advice before getting back to Ken. They have their part to play, they are there to protect citizens and we can't criticize them for that as it's a good thing. Unfortunately the BTC world is in a grey area and exchanges have opened up and people have used them in good faith thinking BTC was not regulated. Let's hope they take a reasonable approach with this company which is paying it's taxes, creating jobs and doing its bit for the US economy.
 

[Flashman]

They have their part to play, they are there to protect citizens and we can't criticize them for that as it's a good thing.

Is there any way to drive home to them that they are probably hindering more folks than they are helping at this point?

[minerpart]

They have their part to play, they are there to protect citizens and we can't criticize them for that as it's a good thing.

Is there any way to drive home to them that they are probably hindering more folks than they are helping at this point?

Difficult one. I'm sure this lawyer dude who is very good and has relevant experience will be making that clear to them.

I mean at this point it's common sense that far more US investors are being frustrated here than the single idiotic complainer (obviously VE) who isn't even from the US as he is Canadian. But even if they accept that's the case they still have to make a judgement based on a possible breach or not of regulations. It's like you might run a red light because you have a pregnant lady who needs to get to hospital because the baby is coming out but you are still prosecuted for the traffic offence. I'm sure the judge would say you did the right thing by rushing to hospital but he still needs to uphold the law and enforce the traffic offence. So yes I'm sure they understand the situation, they just have to do what they were set up to do. And that unfortunately CAN take time.