[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[sparky999]

Some thing is def going on, bids and sells keep popping in and out quite a few shares changing hands around the 0.00007 mark. Bids totalling 24BTC listed right now - never seen it so high

edit and just as i hit post 12BTC of buy orders get pulled again

[zumzero]

I have never bought or sold shares on CT.  At one point (months ago) I had a couple of btc on a buy order but the price never went low enough.  My shares have not been transferred and I only emailed activeminingcorp the other day.  I have no shares listed on CT.  I have only one account on CT.  I have no buy orders on CT and haven't had one since the one mentioned above.

Hope this clears it up for the conspiracy theorists, lmao. 

Hi Ken,

I have just sent the email to activeminingcorp to have my shares transferred to Crypto-Trade from my '********' Bitfunder account.

I have also been looking after a friends small investment but can't remember if I actually tendered her shares or not.  There is no record of having done so in the Bitfunder screen grabs I took from her account so I'll have to assume I didn't actually tender them.

I have just set up a Crypto-Trade account for her so the shares will go through eventually.

Is it possible to check her details and confirm that I did not tender her shares and that I don't need to take any further action?

Here are her details;

Bitfunder User:  ***********
Bitfunder & Crypto-Trade email address:   ***********
Number of shares:  *

Thanks,

zumzero

[VinceSamios]

since my post was deleted because i quoted a person that was once one of ActM's greatest supporters here is my response again.  he was claiming that a lot of the boards are coming DOA.

i really dont think the boards are DOA.  in my experience the design sucks ass and it is VERY difficult to get the cooling attached properly in order to run them at the promised hashrate (specifically speaking about the 750gh Gold Rush boards right now as i have no experience with the prospector).  I have 2 boards, and the 2 different water coolers i have tried (H100 and H80i) both did/can not make close/secure enough contact with the chip using the mounting items included (along with the #8-32 nuts that i had to go purchase myself (ridiculous...)) in order to dissipate heat properly.  so i have them underclocked right now running at only about 450gh per board.  if i remove all mounts and place the water cooler on there by hand and hold it in place i am able to run it at promised spec.  i'm sure if i spent a bunch of time trying to come up with my own rigged-up mount to get the water cooler on there properly i could get the promised 750gh per board.  problem is i dont have a bunch of time to try and make something work, and if a veteran of close to 30 yrs in the IT/hardware field is having a tough time i doubt this is an isolated occurrence.  until Ken either provides custom mounting equipment or a different solution for cooling i fear this will be the experience for anyone purchasing these boards.

on a side note, i suspect this may have been hashfast's biggest issue with releasing their product...

I REALLY think this needs to be addressed.  these are decent products, but ONLY if you can keep them cool and hashing (which proves to be the hard part)

I also would like this addressed. You raise very valid points that if taken seriously could increase user-friendliness and sales.

I've chatted to a few folks who had "DOA" boards - so far it's pretty much been user error. ie. plugging the USB header in backwards...

I thought I had a DOA board... two actually... because the Gold Rush boards don't work on the USB header, only on the micro-USB. So 4 days after receiving them I got some micro-usb cables and... no longer DOA.

As for the ease of installation - it is not easy, it is a bitch.

[Bargraphics]

Small piece of information

http://texasbiodefense.com/vanrooyen.pdf

Added investment under a Hashfast+DigiMex joint-venture was proposed by HF, considered and denied. The second option (of a liquidation-sale supporting such a JV) was offered, and denied, even though the fully-deployed $/Gh price came down to as low as $0.78/Gh.

I took it upon myself to create a third possibility: that of banding together the creditors to form an entity under which these remaining assets may possibly be leveraged to make everyone whole. Appointing a trustee to oversee the unwinding of the Hashfast entity (the hearing tomorrow) should give vision into what assets are available to such an entity, if it should ever come into existence. This is a work in progress, but thus far everyone I have spoken to seem to think this is the most prudent way forward.

Ken has two possibilities at this point

- Proceed to try and do a JV with a dying company, assuming all of that companies issues and dying with it just a little slower.

- Be part of this "Banding together" as he is able to produce boards for these creditors with other perks for being part of the "group".

[snowdropfore]

does it mean actm will come to an end?? no~~~~~~~~~~~~~~~~~~~~~~~~

[danielbrogren]

Where is my refund?

Order Reference JWXKFWTOW
2014-02-10 08:13:40 Refund
2013-12-02 16:38:23 Payment accepted
2013-11-21 22:32:12 Awaiting bank wire payment
2013-11-21 22:32:12 Pre-Ordered

if it smells like a troll...

Idk, his post history seems genuine. You did look at it, right?

Conversely, "if it smells like share pumping..."

Whats yor definition of a troll? A person that tries to get his money back?

[Technologov]

I ask Ken (and the Company) to give investors consolidated financial statement and income statement (VMC+AMC).
We have 2 sorts of revenue: outright mining as well as miner sales.
This would allow investors to see where we're standing.

Whenever we're profitable or not, and how much money we're making or losing.
Without this document, we (the investors) don't know what to do with our shares. Buy more, or sell. And we don't know the overall financial health of the company.

[gogxmagog]

If you are wondering why ken has been silent since the 20th...

On the 20th IceDrills main man:

Well, in case you were wondering what Simon was up to in Amsterdam:

http://bit.ly/1i8dcJJ

On the 21st some other folks join in...

Declaration of Gregory Bachrach, Liquidbits CEO (? May 14):
http://bit.ly/TyjpcO

And finally, for the moment, the memorandum summing it up (from Liquidbits' perspective) for the motion it made to hold the bankruptcy hearing earlier.  The motion was granted, and the hearing is tomorrow (Fri 23 May):

http://bit.ly/1hcNofg

Let's play "Where is Ken" - these guys are trying extremely hard to stop some deal...

I guess we wont know till after the weekend.
This could be really good...

[zumzero]

Where is my refund?

Order Reference JWXKFWTOW
2014-02-10 08:13:40 Refund
2013-12-02 16:38:23 Payment accepted
2013-11-21 22:32:12 Awaiting bank wire payment
2013-11-21 22:32:12 Pre-Ordered

if it smells like a troll...

Idk, his post history seems genuine. You did look at it, right?

Conversely, "if it smells like share pumping..."

Whats yor definition of a troll? A person that tries to get his money back?

Hi Daniel,

The newbie status and limited activity of your account is a red flag to ActM shareholders and ping's their trolldar.  Trolls continue to plague this thread and numerous posts get deleted every day.  As soon as a troll account gets banned by the Bitcointalk.org mods the trolls simply create a new account and continue with their antics.

Hopefully Ken sorts out your issue as a priority the moment he has spare time.  If we are to believe what we read here, it would seem Ken is away on important business so the best thing is to send 'kslaughter' another pm.  Ken might even read these posts and prioritise your case because the last thing he needs is unhappy customers who are prepared to take him to court.

[jasonring]

Ken still didn't reply my customer service letter

Where's my refund, Ken ?

[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

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.

The AC was mixed 10 days ago - and in that timespan only ~12TH was added.     http://eligius.st/~wizkid057/newstats/userstats.php/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa  (93TH and a lot of outages and hardware going on/offline)

When will the DC reach 130-150TH?

[drawingthesun]

Ken is behind on his updates. I would like to know what is going on.

[JimmyJazz]

http://arstechnica.com/tech-policy/2014/05/bitcoin-miner-startup-hashfast-could-be-forced-to-liquidate-itself/

[zumzero]

So eight hours from now...


The bankruptcy hearing, which is open to the public, is scheduled for 2pm on Friday May 23, at the United States Federal Courthouse in San Francisco, in Courtroom 22.

This doesn't look good to me, but I'd welcome anyone else's opinion.

[drawingthesun]

How many of us are waiting by CryptoTrade ready to press sell the moment Ken announces it?

[JimmyJazz]

If Hashfast liquidates the assets will be sold(chips). There will also be the need for somebody to provide the boards and manufacturing for the chips.
edit: It has been stated in the court paper that Hashfast have been selling the chips for well under market value.

[sparky999]

My guess is Ken is trying to cut a deal to put hashfast chips on our boards and then give X% to Hashfast creditors and keep Y% for us to mine/sell.

If he gets the deal done then we should make a good amount of money, if the deal doesn't happen and Ken doesn't get the 5000 chips he paid for from HashFast then we are done.

[BitcoinBaBa]

It's over guys.

It's just not Ken's cup of tea anymore. Let's just admit we put money on the wrong/dead horse and move on .Ken tried what he could but his incompetence , lies ,deceit and lack of respect for shareholder's money will not and should not go unpunished. Many lawsuits will be awaiting him soon.

I have been following this thread for over a year and it has been nothing but agony .Not a single good  sign or news or intent came out only excuses and incompetence .Sure we are hashing at 100th/s now  but even a 12 year old kid could have done that by hiring outside help with the amount of bitcoins given to him.

Ken just does not know how to run a business or to delegate.He should have realized how his actions effect other people's lives. He just mercilessly kslaughtered us.I sympathize with everyone who lost money.       

The good thing is there is still plenty of money to be made in other avenues of crypto world. We are still in very initial stages of this boom so take this awful experience as hard earned lesson and use it to make better decisions and smarter future investments .

best of luck to all especially Ken.

Goodbye.

[VinceSamios]

Coming soon to a youtube near you...

Verdict:
Don't bank on more than 650gh/s
Much easier to setup than a prospector card, but still super sensitive to heatsink mounting.
The USB header doesn't work, so get yourself a Micro USB cable.

[damiano]

WOW I didn't know it was this bad (hashfast bk)