[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[kslaughter]

Ken you made an error with your quoting in your previous post, FYI. Hashfast seems to be going bankrupt. What is the plan for a proprietary chip?

Thanks, I be answering most of these question on Wednesday.

Ken why did you miss your self imposed deadline? Again? Can you answer my question please?

Sorry, I forgot, been busy doing customer support.

What happened to Kris? The hired customer support representative?

Read my update this week.

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[worhiper_-_]

So what are the plans for those proprietary chips?

[VinceSamios]

Just what I was thinking.  Good thermal paste removal and reapplication can't be understated.

Here's the link to Vince's excellent review, although we would also do well to refer to it as an installation guide.
Perhaps Ken could recognise Vince's contribution with 'royalties' if he gained permission to use it as official media? I know I would if I were Ken.  It is quite excellent...

https://www.youtube.com/watch?v=EbRFvEAJ3-A&feature=youtu.be

the gold rush boards are a little different than the prospector boards, but same general idea.  my issue seems to be with the heat sink not making a solid connection with the ASIC and so it is overheating and turning off.  i've been in the computer business for 30 years so I know how to re-thermal.  I too have the H100i, but cant seem to get a solid contact on the chip.  even tried to modify the backplate/mounting screws to provide me with a better connection (without luck).  calling it a night.  this is much more of a pain than I was expecting.  I have 1.5TH sitting around that I cant use.  i'll try again tomorrow.

finlof - the h100i comes with two brackets which go over the heatsink - I didn't make it clear in my video but I followed Bargraphics suggestion of using both. The first with only 2 screw holes goes on first, then the one with 4 screw holes goes over the top to create more spacing. Then it's just a matter of looking from the side and slowly adjusting each of the 4 nuts until it's absolutely level. I don't believe it has to be pressed down particularly hard and I've heard this can deform the board making thermal transfer really bad.

Stick with it - it's pretty easy once you figure it out. :-)

[JimmyJazz]

The customer service employee bailed because of some angry customers? 

I think that it would help if the next customer service rep frequented these boards. Would go a long way to handling customers concerns.

So i guess we are working on the 28nm chip of our own? Or maybe its just fancy words twisting the truth.

No more than a few hundred TH to go online, not that great. But I guess it now comes second to selling products.
Should get some data centres up in Iceland 

Website does need updated, although Ken is aware.

Maybe run some ads on reddit/bitcointalk etc.

[drasted]

 
(ii)  When can we expect a financial report?

Which do you want Sales or Report, working on getting us a CPA and getting the taxes done.  Can't keep Customer Service Reps due to all the threats and bad language.

You said you hired someone to create the report. So that leaves you free to sort out customer service while they do they report

Or do you have your accountant doing customer service too?

[shaofis]

Ken,

What are the remaining liabilities? How much in USD do you still have to refund? This is an answer that shouldn't be avoided.

Shao

[drawingthesun]

Ken,

What are the remaining liabilities? How much in USD do you still have to refund? This is an answer that shouldn't be avoided.

Shao

I think you should PM the askken account. It seems Ken will answer those questions first.

So PM askken and then wait for next week!

[VinceSamios]

Ken with btc staying at 450USD or even going lower and sales remaining flat or going to zero

I've just run some numbers....

It seems we are selling upward of 10 gold rush cards per day at the $849 price point, that is monthly revenue of $254,700 - I actually think we're selling more like 20/day but I haven't really been keeping track particularly well.

Assuming a 30% margin, that is $76,410 monthly profit.

Add this to the monthly mining revenue of $65,000 (lets say -$5000 in DC and power costs, so $60k)

ActM is most likely doing $136,400 profit per month. Or $1.6mil profit/year

This is at current BTC prices.

This is a profit of 317BTC/month or 0.00003172 BTC/share/month (not dividends, since some/lots will/should be reinvested)

Also regarding the hashing vs selling debate:

Assuming a 30% margin on sales, VMC is making $255 profit/sale
The same card mining in the DC might make 1.1BTC in the next month

We have to take into consideration the miners cost about $595 to manufacture, plus about $250 in parts to get them running (Water Coolers and PSU) - total outlay is about $845.

So it will take ActM 65 days approx before the investment in running a miner starts turning a profit. And then only about $150-$200/month

So do we want $255 profit now, with no staff costs, no DC costs, no power costs?
Or do we want $150-$200/month (decreasing fortnightly) in 3-4 months?

I think the only correct answer is that we want a bit of both.

So is Active Mining fucked because the hashrate isn't going up?
Well, no, not if we're selling 10 cards/day.

That said, I would still like to see Ken growing the hash-rate relative to the TNHR. ie. 20%/month but there is a point where growing the farm as opposed to selling miners... is retarded. One month from now, if the BTC price hasn't gone up... mining with our own hardware would be absurd in comparison to selling the stuff.

[Bargraphics]

  
(ii)  When can we expect a financial report?

Which do you want Sales or Report, working on getting us a CPA and getting the taxes done.  Can't keep Customer Service Reps due to all the threats and bad language.

While I'm sure the "threats and bad language" is true. This is normal process for any company with customer service reps and not really a viable excuse.
Sounds like a time buying sentence.

C. Mining Farm

(i)  Please detail a schedule for deployment. When are we expected to reach 200TH, 300TH, 400TH,.. etc?

We expect in this datacenter to be at 120TH-150TH, which we think will be the max due to the AC required.

(ii)  Are you working on starting a second mining farm given the limitations experienced by the first one?

Not at this time, we are working on sales.  We have a good solid income from the mining farm, now we what to get the fast income from sales.

As I have said before and numerous people have also implied, I have access to quite a bit of Datacenter space where the teams are knowledgable in setting up gear (This gear specifically in one case). If you truly had 5,000 boards they could go up if you wanted them to.

[drawingthesun]

Good post Vince.

I still think Ken should, once money allows, attempt to build a PH/s datacentre. If we can gain 1% or 2% of the network come several months when the price soars past $1,000 again we will be very well off.

I wonder if Ken is better suited to hiring out an actual datacentre that is ready to go? Where we just have to install the miners and all cooling is taken care of.

Also Ken, are we going to keep profits from the hardware in USD or BTC?

(I'll also send this to ASKen too)

[drawingthesun]

C. Mining Farm

(i)  Please detail a schedule for deployment. When are we expected to reach 200TH, 300TH, 400TH,.. etc?

We expect in this datacenter to be at 120TH-150TH, which we think will be the max due to the AC required.

(ii)  Are you working on starting a second mining farm given the limitations experienced by the first one?

Not at this time, we are working on sales.  We have a good solid income from the mining farm, now we what to get the fast income from sales.

As I have said before and numerous people have also implied, I have access to quite a bit of Datacenter space where the teams are knowledgable in setting up gear (This gear specifically in one case). If you truly had 5,000 boards they could go up if you wanted them to.

I feared this was the case, I assumed Ken had discussed this with you. It appears you two have not been in contact regarding the datacenter offer from Bargraphics.

Even if it cost us 5% - 10% of our profits, is it not worth getting that much power online?

1- I suspect we either have no plans to make that much hardware.
or
2- Hashfast is slowing chip production.
or
3- we are selling boards too fast to put them in our own data centers.

I hope 3 is the reason!

[VinceSamios]

I wonder if Ken is better suited to hiring out an actual datacentre that is ready to go? Where we just have to install the miners and all cooling is taken care of.

Definitely

[finlof]

Working on creating instructions and video today.

status?

EDIT - I think i might have an issue with my water cooler(s) so I am ordering an additional (2) Corsair H80i's today.  (worst case I can resell them to customers, but hoping they will do what they need to do for me.)  When i remove all brackets and bolts and whatnot and place either that cooler or even a regular air-based cooler on the chip and make sure it is nice and level i am able to get some more hashing in before it turns off due to chip overheat, so it seems my water cooler is not going down close enough to the chip with the current hardware.  my H80i's should be here tomorrow.

[drawingthesun]

(vii)  How much of ActM/VMCs assets were exposed as a result of the acquisition of People's Asic?

~157,000 shares

People's ASIC have done good getting things moving and they are behind the ASIC IP but don't you think buying them for 150,000 shares is a little low?

I mean, did we just buy a small part of People's ASIC for $10,000 or the entire company?

I can understand if you sold them a million shares, but only 150k?

I am asking because that must mean something else was on the table right? Perhaps salary?

[neilol-real]

(vii)  How much of ActM/VMCs assets were exposed as a result of the acquisition of People's Asic?

~157,000 shares

People's ASIC have done good getting things moving and they are behind the ASIC IP but don't you think buying them for 150,000 shares is a little low?

I mean, did we just buy a small part of People's ASIC for $10,000 or the entire company?

I can understand if you sold them a million shares, but only 150k?

I am asking because that must mean something else was on the table right? Perhaps salary?

Ken has mentioned there was no BTC/USD salary component in the past.

[drawingthesun]

(vii)  How much of ActM/VMCs assets were exposed as a result of the acquisition of People's Asic?

~157,000 shares

People's ASIC have done good getting things moving and they are behind the ASIC IP but don't you think buying them for 150,000 shares is a little low?

I mean, did we just buy a small part of People's ASIC for $10,000 or the entire company?

I can understand if you sold them a million shares, but only 150k?

I am asking because that must mean something else was on the table right? Perhaps salary?

Ken has mentioned there was no BTC/USD salary component in the past.

If this is the case then the People's ASIC team must truly believe we are onto something if they are sticking around.

[qukkM]

Ken you made an error with your quoting in your previous post, FYI. Hashfast seems to be going bankrupt. What is the plan for a proprietary chip?

Thanks, I be answering most of these question on Wednesday.

Ken why did you miss your self imposed deadline? Again? Can you answer my question please?

Sorry, I forgot, been busy doing customer support.

Ken if you have been doing customer support can you tell me when you will reissue my cheque refund after failing to sign the original cheque. I sent the cheque back as requested and now you are ignoring all of my messages either through the store or through here. What do I need to go to get a refund that I was promised would take 10 days,  it is now 5 months later and I am still waiting.

[knybe]

perhaps if the dividends were to start trickling out to shareholders, this might look like a viable operation… that would lead me (or others) to buy more shares.

[thefunkybits]

perhaps if the dividends were to start trickling out this might look like a viable operation… that would lead me (or others) to buy more shares.

Also, if divs are paid out (Ken said the 21st) the company can use the other half of mining income for whatever it pleases, no questions asked

[drawingthesun]

perhaps if the dividends were to start trickling out this might look like a viable operation… that would lead me (or others) to buy more shares.

Also, if divs are paid out (Ken said the 21st) the company can use the other half of mining income for whatever it pleases, no questions asked

Vince worked out that half the profits so far are from sales and the other half from mining.

So we get 50% of all profit correct? So that means most of the mining address.