drawingthesun
Legendary
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Activity: 1176
Merit: 1015
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May 13, 2014, 07:19:06 AM |
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By the way bigdude, Ken has hinted that 120TH is our limit and we should be ok with the 1,000 bitcoin generated per year. (Due to bitcoin price increase in the future)
Therefore it seems their are no plans to increase our hashrate by the 10 to 100 times needed to make this a break even on the dollar value invested. We will need about 1,000 times our current hashrate by the end of the year to even have a chance of getting break even on our bitcoins.
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"Bitcoin: mining our own business since 2009" -- Pieter Wuille
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PurpleTentacle
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May 13, 2014, 07:27:32 AM |
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Meanwhile 163 prospector boards are collecting dust. Anyway, has anyone of you guys actually bought shares or is Ken buying them all up?
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drawingthesun
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Merit: 1015
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May 13, 2014, 07:51:33 AM |
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Meanwhile 163 prospector boards are collecting dust. Anyway, has anyone of you guys actually bought shares or is Ken buying them all up?
If Ken is buying the shares that would be a good thing, would mean that something big is coming and they are a good buy. However I think it's shareholders that still believe that we'll get 1% of the hashrate who are buying up shares. I wish Ken would be open about the state of the company. If I could get 50 bitcoin for my shares I would sell them asap. However I feel that is simply a dream now. |
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PurpleTentacle
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May 13, 2014, 08:02:49 AM |
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...
If Ken is buying the shares that would be a good thing, would mean that something big is coming and they are a good buy.
However I think it's shareholders that still believe that we'll get 1% of the hashrate who are buying up shares.
...
Well, if Ken bought as many shares as he could get at current prices, he would get away with a lot less than 25,000 btc to be paid out as dividends. |
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GTR_JOEY
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Activity: 99
Merit: 10
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May 13, 2014, 10:32:45 AM |
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Hash rate appears to be rising,
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shaofis
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Activity: 106
Merit: 10
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May 13, 2014, 01:05:59 PM |
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Well, if Ken bought as many shares as he could get at current prices, he would get away with a lot less than 25,000 btc to be paid out as dividends.
Sort of... the shares would still have to be paid dividends... just would go right back into the company coffers... it would enable him to pay down the "owed" amount sooner. Unless of course he's buying shares with his own money... which at this point would just be dishonest. |
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VinceSamios
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May 13, 2014, 01:35:30 PM |
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So I bought 2 gold rush cards on saturday, paid on sunday, and received tracking information today...
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drawingthesun
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Merit: 1015
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May 13, 2014, 01:48:22 PM
Last edit: May 13, 2014, 04:09:27 PM by drawingthesun |
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Well, if Ken bought as many shares as he could get at current prices, he would get away with a lot less than 25,000 btc to be paid out as dividends.
Sort of... the shares would still have to be paid dividends... just would go right back into the company coffers... it would enable him to pay down the "owed" amount sooner. Unless of course he's buying shares with his own money... which at this point would just be dishonest. And that is 100% ok in my book. The more shares Ken buys (if so) will encourage him to do well and in effect he will become rich if the company survives. Because it's unlikely we'll ever get back the 0.0025, Ken needs to own as many of the original 10,000,000 shares so he has more skin in the game. I hope it's Ken buying the cheap shares. |
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chalbersma
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May 13, 2014, 02:28:28 PM |
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My shares transferred. Thanks Ken for sorting it out!
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minerpart
Sr. Member
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Activity: 280
Merit: 250
IIIIII====II====IIIIII
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May 13, 2014, 02:50:51 PM |
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So if Ken buys ALL the shares what has happened here?
He raised 10k bitcoins, spends less than 1k buying all the shareholders out at a fraction of IPO price and over the year spends a few k btc ordering some hashfast chips.
End result is 7k bitcoin in Kens back pocket.
Lets face it, we don't actually know where the IPO coins went. Ken could have most of them stashed away and not need this company to succeed at all. A failure would suit him fine. That would explain him not bothering about the website or customers.
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JoTheKhan
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May 13, 2014, 02:52:41 PM |
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So if Ken buys ALL the shares what has happened here?
He raised 10k bitcoins, spends less than 1k buying them back at a fraction of IPO price and spends a few k btc ordering some hashfast chips.
End result is 7k bitcoin in Kens back pocket.
And then me and him can talk about buying my small small small, paltry set of shares last so he can wrap up this endeavor. Of course I won't be selling for under .0025 =) |
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kslaughter
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May 13, 2014, 02:58:16 PM |
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Well, if Ken bought as many shares as he could get at current prices, he would get away with a lot less than 25,000 btc to be paid out as dividends.
Sort of... the shares would still have to be paid dividends... just would go right back into the company coffers... it would enable him to pay down the "owed" amount sooner. Unless of course he's buying shares with his own money... which at this point would just be dishonest. And that is 100% ok in my book. The more shares Ken buys (if so) will encourage him to do well and in effect he will become rich if the company survives. Because it's unlikely we'll ever pay back 0.0025 Ken needs to own as many of the original 10,000,000 shares so he has more skin in the game. I hope it's Ken buying the cheap shares. I have not purchased any shares at this point. |
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PurpleTentacle
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May 13, 2014, 03:02:53 PM |
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...
I have not purchased any shares at this point.
Has AMC / VMC purchased any shares? |
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shaofis
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May 13, 2014, 03:11:05 PM |
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...
I have not purchased any shares at this point.
Has AMC / VMC purchased any shares? Thanks Ken for clarifying. If Ken had the cash flow to purchase some of these shares it would be in the companies and thus investors best interest that he does so. But of course you'd have to measure the use of funds comparing the other opportunity costs vs the decrease in outstanding liabilities. Right now I'm assuming Ken needs the funds to continue to evolve the business and that decreasing future liabilities are a ways down on the list. |
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damiano
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Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
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May 13, 2014, 03:18:11 PM |
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I'm thinking about purchasing an additional 100k , but it's a gamble right now. Share price is super cheap and the slightest bit of good news can move them up in a positive way
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BlackFlag
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May 13, 2014, 03:32:23 PM |
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I'm thinking about purchasing an additional 100k , but it's a gamble right now. Share price is super cheap and the slightest bit of good news can move them up in a positive way
+1 |
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JimmyJazz
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May 13, 2014, 03:35:11 PM |
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New products and services added to the store.
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drawingthesun
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Activity: 1176
Merit: 1015
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May 13, 2014, 04:21:15 PM |
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I'm thinking about purchasing an additional 100k , but it's a gamble right now. Share price is super cheap and the slightest bit of good news can move them up in a positive way
+1 It's amazing to think I could almost double my entire stash of ActiveMining at these price points. Kinda sad. |
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