[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[arousedrhino]

Wow! Nearly 20k Bitcoin gone,

At today's prices that is about 11 million dollars.

Ken, could you please share where that money has gone?

Ken, where has all the money gone?

https://blockchain.info/address/16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP

following some of the large transfers, a lot of money ends up here: https://blockchain.info/address/14e7XAZbepQp9MXXzjNG3fNLoAUpaBAXHW

.... big quote

it almost seems like ken put money into what is now being complained as a scam as recently as a month ago: https://blockchain.info/address/1HtoMBUKzRgS5X9WdnwZiQKQccvWBCPGx   (it goes through about 3 wallets first, but its a large enough amount that the movement to the coinmarket wallet is clear)

of course, most of this is meaningless without the financial report that was promised over a month ago.

Can you provide the analysis that links https://blockchain.info/address/14e7XAZbepQp9MXXzjNG3fNLoAUpaBAXHW to https://blockchain.info/address/1HtoMBUKzRgS5X9WdnwZiQKQccvWBCPGx I have been trying to trace it with blockchain.info but am struggling. I show ActM sending 1.7K BTC to 14e7XAZbepQp9MXXzjNG3fNLoAUpaBAXHW though which is very interesting.

[Jasun7211]

The good news is I see the Actm shareholders are finally understanding and using the blockchain......more to its highest and best uses.  If he did steal our btc we knkw exactly where they are.  Thats the beauty of an open ledger.  Any one think they have problems here just look at deprived's DMS thread.  We all know Ken is over his head with all this. Let him execute ...in his own crazy way.  Remember we are in a good spot in the tough mining sector.  I doubt anyone would give up a shot at this point to being a huge player in the mining equip sector at this point. 

[knybe]

Ok, someone please ELI5, I'm just trying to understand what is going on:

Is the above mentioned movements of coin looking like Ken is trying to move out funds to hide and/or vanish with?


AND, why can't He or any one of these turds in this business come clean?? FFS.

[drawingthesun]

Ok, someone please ELI5, I'm just trying to understand what is going on:

Is the above mentioned movements of coin looking like Ken is trying to move out funds to hide and/or vanish with?


AND, why can't He or any one of these turds in this business come clean?? FFS.

It's hard to come clean when you're stealing people's money.

[tempestb]

I think that one address is one of the largest Bitcoin storage addresses.  It's likely some kind of Coinbase cold wallet or other similar service.  

Ken said he's working at DC(?) to improve the hash situation.  Let's assume that's true.  He can't get anything else in there due to the AC situation.  So it would be common sense (Which doesn't always apply here) that Ken is having an HVAC guy replace the air conditioners with better ones.  That can be expensive.  Not thousands or hundreds even, of Bitcoins, but expensive enough to warrant Ken to be there for it.

Ok, now Ken also said that he has tooled up a line ready to do a 5,000 board run when needed.  That's expensive, so perhaps he pulled the money to pay for the boards to be made.  That could very well be true.  It would go with Ken mentioning that the chips they were talking about in the court case might be his.  Or in other words, they might be a customer's that Ken is producing boards for.

It's also possible there is just another customer of Hashfast out there in possession of chips that needs boards and Ken worked out a deal.  He cashed out the coins out of that wallet to fund the boards being made.

Of course, the question is, "Where's the money from the order?" and Ken did say that he had something brewing to raise 2.5 million.  Is it this?  Might be.  Pay on delivery?  Maybe...  But probably not.  Probably the money is in FIAT in a bank account somewhere that we can't see.

Just tossing that out there.  I cashed out awhile ago and have no money on the line with this.  But it stands to reason based on everything that Ken has said recently that this might be the case of what is happening.  It also might be to pay for his chalet in Switzerland.  One of the two.

[klondike_bar]

I think that one address is one of the largest Bitcoin storage addresses.  It's likely some kind of Coinbase cold wallet or other similar service.  

Ken said he's working at DC(?) to improve the hash situation.  Let's assume that's true.  He can't get anything else in there due to the AC situation.  So it would be common sense (Which doesn't always apply here) that Ken is having an HVAC guy replace the air conditioners with better ones.  That can be expensive.  Not thousands or hundreds even, of Bitcoins, but expensive enough to warrant Ken to be there for it.

an HVAC unit capable of handling another 50TH (~60kW) is a $5000-10,000 investment. were talking a few dozen BTC at the most. Whats going on is more disturbing

He claimed only a week or two ago that while the DC would not be capable of 170TH it would be able to run 120TH. (seriously, he fell short of promises by more than 30%).
now it looks like the DC cant run more than 100TH, which either means his 120TH spec (given when the DC was 80TH) was also out of touch with reality, or that he is mining elsewhere with 20TH+ just like he did with the 737GH of avalon equipment owned since late 2013.

its hard to believe he is sitting on his hands with a shitty out-of-date website and 50TH of boxed cards that wont sell as a result. I am willing to make a small bet that a proper audit would find equipment mining on a 'stealth pool' if someone actually inspected the amount of equipment in the DC and compared that to what is in the known eligius pool. And with the financial report nearly two months late this is even more concerning

[tempestb]

You might be right.  But I think you're looking for the absolute negative scam view point.  Think about it, Ken didn't have to tell anyone about this mining farm.  He could have told people we're still working on our own custom 28nm chip and never mentioned a word of this mining farm.  It wouldn't have gotten out otherwise, nobody else has even mentioned it.  So it would make little sense for him to divide the mine up and just mine for himself while revealing this other mining gear, especially because he hasn't said he's going to give any of the coins earned to anyone.  He may just mine those coins for further operating expenses.

So there is no need for him to hide anything.  He can mine with all the equipment and spend all the money on whatever he wants.  That's just the facts. 

He may not be adding more equipment until the AC is fixed.  Again, that could be happening as well as making boards.  Or you might be right, he could have cashed all the coins out and is heading to Mexico.  I dunno...  I tend to think that Ken is completely incompetent but not a thief. 

[drawingthesun]

Can we get the dividends paid out please?

[drawingthesun]

I'm selling my shares in lots of 10,000.

10 bitcoin for 10,000

Please PM me and we can arrange a transfer.

[kleeck]

I'm selling my shares in lots of 10,000.

10 bitcoin for 10,000

Please PM me and we can arrange a transfer.

Unfortunately this isn't how markets work. Why would anyone buy your shares for .001 ea. when they could get their own for far less on crypto-trade?

[drawingthesun]

I'm selling my shares in lots of 10,000.

10 bitcoin for 10,000

Please PM me and we can arrange a transfer.

Unfortunately this isn't how markets work. Why would anyone buy your shares for .001 ea. when they could get their own for far less on crypto-trade?

I'm bored.

Of this company.

And I express this.

Via stupid posts. What a massive hole this is.

[zumzero]

I'm selling my shares in lots of 10,000.

10 bitcoin for 10,000

Please PM me and we can arrange a transfer.

Unfortunately this isn't how markets work. Why would anyone buy your shares for .001 ea. when they could get their own for far less on crypto-trade?

Who wouldn't pay a premium to see the back of DTS? Worth every penny imo.  

[knybe]

The childish banter continues.

[SebastianJu]

I wonder what all these informing of police, interpol and so on will lead to. Not only to ActiveMining i mean. For ActiveMining i think its totally useless to go that way. Sueing ken? For what? You saw what amount of bitcoins are in the known addresses? Then add the outstanding refunds and everyone should realize that sueing would most probably cost more than it could gain.

What im more concerned about is what will all those projects going down left and right will mean for the involvement of government. I mean first everyone is happy and invests in unregistered shares but when it goes wrong he calls for government. I cant blame anyone for that of course because most projects seems to be run by guys that lack knowledge in one part or another. So that things go wrong. But when practically every second, or even more, project ends in complaints and cries for government... what will that mean for Bitcoin one day? Will Bitcoin look like a shark pool or a den of thieves? So that government will suppress it? Or will they regulate it only?

The best outcome would be that the people doing business know what they do and do business wise decisions instead basing decisions on other things. But why should that change now for some reason?

I tend to sigh in the last time when i think about bitcoin projects... Bitcoin gains trust again, showing it in the shareprice, but i wonder where it leads too with all those investors wanting the government involved.

[drawingthesun]

I'm selling my shares in lots of 10,000.

10 bitcoin for 10,000

Please PM me and we can arrange a transfer.

Unfortunately this isn't how markets work. Why would anyone buy your shares for .001 ea. when they could get their own for far less on crypto-trade?

Who wouldn't pay a premium to see the back of DTS? Worth every penny imo.  

Please do. :p

[drawingthesun]

I wonder what all these informing of police, interpol and so on will lead to. Not only to ActiveMining i mean. For ActiveMining i think its totally useless to go that way. Sueing ken? For what? You saw what amount of bitcoins are in the known addresses? Then add the outstanding refunds and everyone should realize that sueing would most probably cost more than it could gain.

What im more concerned about is what will all those projects going down left and right will mean for the involvement of government. I mean first everyone is happy and invests in unregistered shares but when it goes wrong he calls for government. I cant blame anyone for that of course because most projects seems to be run by guys that lack knowledge in one part or another. So that things go wrong. But when practically every second, or even more, project ends in complaints and cries for government... what will that mean for Bitcoin one day? Will Bitcoin look like a shark pool or a den of thieves? So that government will suppress it? Or will they regulate it only?

The best outcome would be that the people doing business know what they do and do business wise decisions instead basing decisions on other things. But why should that change now for some reason?

I tend to sigh in the last time when i think about bitcoin projects... Bitcoin gains trust again, showing it in the shareprice, but i wonder where it leads too with all those investors wanting the government involved.

I haven't called the government, but I will complain on this forum about Ken and his lies.

I think it's best Ken never takes money from investors again, he somehow made 20,000 bitcoin vanish, probably into his own pockets.

If he really is poor from this (I doubt it) then he should get a job in a fast food store, he is not qualified to lead any company ever again.

And yeah, SebastianJu, if Ken does manage to actually completely fail then the legal option is a must. We make the case that he scammed and then we take everything. If we can make it so his family members that were paid at one point look like they were in on it, well it means more homes we can suck into our returns, I feel good about that.

It really seems like we have been scammed, all those bitcoins, I wonder where they really are?

[kslaughter]

Wow! Nearly 20k Bitcoin gone,

At today's prices that is about 11 million dollars.

Ken, could you please share where that money has gone?

Ken, where has all the money gone?

https://blockchain.info/address/16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP

First of all we have never had 20,000 BTC.

Next, we just build a DC with ~100 TH, that wasn't free.

We also have  boards in stock and those were not free either.

[drawingthesun]

First of all we have never had 20,000 BTC.

Then educate us, how much was raised?

Next, we just build a DC with ~100 TH, that wasn't free.

Will we be getting a dividend from this DC at some point?

We also have  boards in stock and those were not free either.

If we have boards, why not take Bargraphics up on his friends offer to host the entire lot?

Ken, what is going on?????

[kleeck]

Wow! Nearly 20k Bitcoin gone,

At today's prices that is about 11 million dollars.

Ken, could you please share where that money has gone?

Ken, where has all the money gone?

https://blockchain.info/address/16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP

First of all we have never had 20,000 BTC.

Next, we just build a DC with ~100 TH, that wasn't free.

We also have  boards in stock and those were not free either.

What you are seeing here, Ken, is idle speculation turned investigatory due to having no financial report for EoY 2013 or Q1 2014. If you don't release financial reports you are going to see a lot of these inquiries and accompanying scam theories. This is because people are accustom to legitimate companies release financial reports.

You need to release a financial report immediately and future reports must be consistently released.

[Phildo]

And if it will take too long for a financial report, just give some specific details to show you aren't flushing coins down the toilet.

how much money has gone into the data center? Where did that money come from? when do you expect that decision to turn a profit?