[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[Flashman]

Why can't ken just put a giant radiator or two outdoors?

CEO, electrician, ASIC designer, marketer, website designer, ecommerce mogul, HVAC engineer, date center tech, accountant, controller, and now a plumber as well?

[wasubii]

Why can't ken just put a giant radiator or two outdoors?

CEO, electrician, ASIC designer, marketer, website designer, ecommerce mogul, HVAC engineer, date center tech, accountant, controller, and now a plumber as well?

He's the CEO - he can bring in any plumbers, electricians etc he wants to at the drop of a hat.

Ken being a one-man-band is part of the problem.

Even if it costs $10,000 to do it, if we are mining at 200+TH/s a week sooner then its worth the cost

[WildFire.ca]

He should install the rest of the hardware in a second DC. Bargraphics offered to put Ken in touch with a company he knew of that would have no problems hosting our gear. It would be a good idea to have a back up.

[shaofis]

Look up the rule for custom orders.  This is the rule for pre-manufactured items.

https://bitcointalk.org/index.php?topic=206488.msg6562371#msg6562371

Ken,

Is this really how you want to respond to a customer who trusted you with their money for a product you no longer have any intent on manufacturing or delivering.

[tempestb]

Is this third air conditioner that isn't working 3 times the size of the other two?  Because if it's the same size, he can add another 33% before he overheats the room again.  I doubt he's lying about the AC being out, but it does sound like he may have underestimated how much heat would be generated and even with the third AC running it sounds like we will hit a wall pretty quick unless he adds more.  (But probably won't have the power for it.)

All the more reason to fix the website and increase unit sales to supplement the lack of mining.

[somestranger]

Is this third air conditioner that isn't working 3 times the size of the other two?  Because if it's the same size, he can add another 33% before he overheats the room again.  I doubt he's lying about the AC being out, but it does sound like he may have underestimated how much heat would be generated and even with the third AC running it sounds like we will hit a wall pretty quick unless he adds more.  (But probably won't have the power for it.)

All the more reason to fix the website and increase unit sales to supplement the lack of mining.

And didn't Ken say that there is capacity to install up to 800TH/s in this data center? This seems like a pipe dream if we can't even get 100.

[bigdude]

I agree with zumzero,

The best course of action Ken could take, is to simply lay everything out, show what position we are in, and then let us help.

He is one man, he has failed until now, and he must see that. But he can still make this venture a success by drawing on shareholders who have a lot to lose, and a lot to gain.

But, will Ken listen, or keep digging a hole

[st4nl3y]

this will probably get deleted but i think ken must be under so much pressure right now he might pack up and do one... cognitive style!

[JimmyJazz]

At the end of the day there's not much we can do.
I don't know how it is so hard for Ken to simply fix the website or spin some positive PR.
Does he want this to die?
Who knows.. we are between a rock in a hard place - Holding out longer or taking legal action.

Ken,
can you please come on here and set the record straight. I understand that this may have gotten to much and you are sick of little kids whinging on the forum. However, we would much rather know about the bad news than kept in the dark. You would not have a shareholder crisis on your hands if this was the case.

[VinceSamios]

can't wait! Pics to follow.

[klondike_bar]

I don't buy the broken AC excuse. How can they be limited at 80th when the plan was to have the farm 250th +?

Presuming the 3rd AC is completely fubar, can he not buy another one?

They are missing out on $10k per week they don't fix that AC.

Also why do they even need an AC if these are water cooled?

Thermodynamics.  The water cooled systems use air fans to cool the water by blowing air across a radiator like in a car.  If the air is too hot the water can't be cooled enough by the fans.  Imagine a car sitting in a traffic jam in the summer and overheating.  The radiator fan is blowing like mad but it can't circulate cool air until it starts driving forward.  In our case the moving car is equivalent to switching on the AC.

So what's your theory Jim?  Are you suggesting that Ken is running 240TH but has directed the bitcoin to a hidden address?

Why can't ken just put a giant radiator or two outdoors?

I'm not suggesting ken has 250th but the AC excuse doesn't check out. He should know that time is crucial in bitcoin mining.

outdoor radiator does not make sense unless you wanted an obscene water cooling solution that combines all the units in a DIY system rather than a proven corsair system. The way he is doing it is *mostly* right.

this AC being down is a rediculous excuse, true or not. No hardware has been added in over a week, and the hashrate is only 80TH when it was supposed to be 170TH as of 6 days ago.  There is no way he will get past 120TH even with the third AC

[bitwhizz]

Why can't ken just put a giant radiator or two outdoors?

CEO, electrician, ASIC designer, marketer, website designer, ecommerce mogul, HVAC engineer, date center tech, accountant, controller, and now a plumber as well?

this made me laugh

[lobbes]

I agree with zumzero,

The best course of action Ken could take, is to simply lay everything out, show what position we are in, and then let us help.

He is one man, he has failed until now, and he must see that. But he can still make this venture a success by drawing on shareholders who have a lot to lose, and a lot to gain.

But, will Ken listen, or keep digging a hole

I believe this is the fundamental question that is dividing us as shareholders: "Will Ken listen?"

I, personally, do not believe he wants to listen to shareholders. He didn't want to listen to the advisory board back then, and he hasn't been listening now with regards to providing a financial report, or the updating the website.

The website is a great example because he doesn't need to lay that out. Everyone (including Ken, I'm sure) can see that updating the website would help the company immediately drive more sales. I'm sure there are plenty of shareholders today that would help him with this for free. Yet he appears to be ignoring this completely.

[VinceSamios]

Bam - they are real! And came with a USB cable thingo...

[bitwhizz]

Bam - they are real! And came with a USB cable thingo...

thats actually impressivelly small for the Gigahash
compare one of those cards to two S1's- same giga hash

KEN, PLEASE LET ME EXCCHANGE MY SHARES FOR THE HARDWARE

[VinceSamios]

Just waiting on a linux install - apparently cgminer sucks on OSX. Lame...

[WildFire.ca]

Ken we need to know what is going on with this company and the SEC. What steps are you taking to get us trading. I am not willing to sit idly by and wait for you to wait for the SEC to send you paperwork that says they are not investigating us any more as this can take up to 5 years and they will not give up the right to prosecute during the 5 years by sending such a letter. This is the SEC exemption that Ken needs and should be filling out. If you are unable to tell us in tomorrow's update what stage you are at with the shares and investigation then I feel it is best to contact the SEC myself and get the info we entitled to as a publicly traded company. Until we have our shares back we are considered creditors, and as creditors you must know that we are afforded certain rights that we do not get as shareholders. It is in your best interests to have us listed as shareholders instead of creditors as you found out with the refunds. I doubt you have to apply for your broker/dealer license as you are not issuing more shares, you are just returning shares that have been previously issued. In no way is the SEC here for Ken's protection they are here for ours, I think the would SEC look at a company issuing assets and then withholding said assets from the people who bought them as a breach of contract. This is what the SEC is trying to prevent, they are not trying to prevent legitimate companies from running legitimate businesses where everyone is happy.

Next I would like to know what are the future plans for our DC as the current plan will not work for the long term. The person you bought the A/C from should have told you how many BTU's you need to cool x amount of watts. FYI a DC that is running 170KW needs more then 650000 BTU's of cooling. So you need to double the 300,000 of BTU's that you should have currently installed just for our project.

There are a number of factors which limits how fast we can increase our self mining hash rate.  #5)  Maximum available power and cooling, we believe using our calculations we have enough power and cooling for 1,069 TH based on the electrician's estimate.  

Ken, please let us help you with this stuff I could have helped you figure out all the power requirements and cooling so we would not have had a month of waiting to figure out it would not work.  

Please fix the bloody website

[snowdropfore]

http://cryptocrimson.com/2014/05/asic-manufacturer-hashfast-facing-fraud-accusations/   are we using the hashfast's chips??

[tekke]

Hello Everyone , I have 50 ACTM shares since the days of BCTC. I have been out of the loop for a while , so I checked the thread and saw that  ACTM is now trading in crypto-trade, so I wrote a PM to ken asking how could I get my shares there, he told me that they are not transferring shares to CT yet. But, I just checked ACTIVEMININGCORP in CT and they are trading the shares, so this are other kind of shares? any news when will be able to get our shares there?.

Thanks a lot for your answers, I will keep an eye on the thread for now on.

[kslaughter]

I don't buy the broken AC excuse. How can they be limited at 80th when the plan was to have the farm 250th +?

Presuming the 3rd AC is completely fubar, can he not buy another one?

They are missing out on $10k per week they don't fix that AC.

Also why do they even need an AC if these are water cooled?

Thermodynamics.  The water cooled systems use air fans to cool the water by blowing air across a radiator like in a car.  If the air is too hot the water can't be cooled enough by the fans.  Imagine a car sitting in a traffic jam in the summer and overheating.  The radiator fan is blowing like mad but it can't circulate cool air until it starts driving forward.  In our case the moving car is equivalent to switching on the AC.

So what's your theory Jim?  Are you suggesting that Ken is running 240TH but has directed the bitcoin to a hidden address?

Why can't ken just put a giant radiator or two outdoors?

I'm not suggesting ken has 250th but the AC excuse doesn't check out. He should know that time is crucial in bitcoin mining.

outdoor radiator does not make sense unless you wanted an obscene water cooling solution that combines all the units in a DIY system rather than a proven corsair system. The way he is doing it is *mostly* right.

this AC being down is a rediculous excuse, true or not. No hardware has been added in over a week, and the hashrate is only 80TH when it was supposed to be 170TH as of 6 days ago.  There is no way he will get past 120TH even with the third AC

Really, I made a mistake and said 170 TH, but it should have been 100 TH by the end of April.  We are at 80% of that, it does look like the AC can only support about 130-150 TH with the third AC running.  That AC should be fixed this week.  The 800 TH was based on the power available and was my estimate.  We really did not know what the AC could support, but the DC had 3 massive AC units.