[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[JoTheKhan]

Guys, if you bought shares on BTCT. You will have received emails stating how man you bought, what you paid for each share and the time and date of the purchase. If you transfered your shares from BTCT to Bitfunder you will have a record of this from having an email with Ken as that's how we contacted him for transfer.

No matter how high the bar Ken tries to make it to prove ownership of shares, there is more than enough proof. (Thank you Burnside)

[kleinessteak]

Guys, if you bought shares on BTCT. You will have received emails stating how man you bought, what you paid for each share and the time and date of the purchase. If you transfered your shares from BTCT to Bitfunder you will have a record of this from having an email with Ken as that's how we contacted him for transfer.

No matter how high the bar Ken tries to make it to prove ownership of shares, there is more than enough proof. (Thank you Burnside)

Are only shares eligible that were bought at IPO price (0.0005 / 0.0025) directly from ACM for a refund or are all on Bitfunder/BTCT bought shares eligible?

[Bargraphics]

I was inclined to believe this wasn't the end until I heard Bargraphics statement that Ken has totally cancelled any plans for a 28nm

From my understanding, it was slightly too expensive for Ken to do with his funds so he tried to do this whole HashFast board clone to raise funds and mine, once he had enough he would be trying to do that 28nm.

Unfortunately this MSD ruling sure does put a damper on that plan along with the fact that it would likely take months of Ken withholding customer refunds to fund the 28nm that would then take 4-6 months to be born since the 55nm was ready for tapeout and a 28 would have to go into backend design (although quicker because it's based on an existing design and the same backend design company would hopefully be doing it)



Long story short, no matter what Ken says on here, he'a full of it unless he provides unequivocal proof of whatever he's talking about.


Another fun fact, when I visited I called bullshit on his Intellihash and said that it's probably just a gimmick. He shrugged his shoulders and said I'll have to wait and see.

I think we'll all be waiting a long time (read forever)

[JoTheKhan]

Guys, if you bought shares on BTCT. You will have received emails stating how man you bought, what you paid for each share and the time and date of the purchase. If you transfered your shares from BTCT to Bitfunder you will have a record of this from having an email with Ken as that's how we contacted him for transfer.

No matter how high the bar Ken tries to make it to prove ownership of shares, there is more than enough proof. (Thank you Burnside)

Are only shares eligible that were bought at IPO price (0.0005 / 0.0025) directly from ACM for a refund or are all on Bitfunder/BTCT bought shares eligible?

I do not know at this point. It would be stupid to expect that only IPO holders would be getting a refund, seeing Ken has led us on for months after the IPO and has verified on multiple occasions the legitimacy of the shares then I do not see why these shares would not be worthy of a refund. Otherwise Ken might make quite a bit money on this whole situation.

[JimmyJazz]

I was inclined to believe this wasn't the end until I heard Bargraphics statement that Ken has totally cancelled any plans for a 28nm

From my understanding, it was slightly too expensive for Ken to do with his funds so he tried to do this whole HashFast board clone to raise funds and mine, once he had enough he would be trying to do that 28nm.

Unfortunately this MSD ruling sure does put a damper on that plan along with the fact that it would likely take months of Ken withholding customer refunds to fund the 28nm that would then take 4-6 months to be born since the 55nm was ready for tapeout and a 28 would have to go into backend design (although quicker because it's based on an existing design and the same backend design company would hopefully be doing it)



Long story short, no matter what Ken says on here, he'a full of it unless he provides unequivocal proof of whatever he's talking about.


Another fun fact, when I visited I called bullshit on his Intellihash and said that it's probably just a gimmick. He shrugged his shoulders and said I'll have to wait and see.

I think we'll all be waiting a long time (read forever)

Ken has been holding onto preorders for a long time. ($6 million, but that's debatable).
This could have funded a chip. I know its not ethical, but other companies in this space do it.
Maybe he has been working on something? Or maybe not...

I also want to add a bit regarding the partial refund from easic.
Partial in this case implies less than the original amount.
That could be $900,000 to $5.00 - A little to ponder.
Did we really pay $1 million and only get $200k back? For what, turning up to easic, realising we cant make the chip and leaving a few days later?

[JimmyJazz]

Did we really pay $1 million and only get $200k back? For what, turning up to easic, realising we cant make the chip and leaving a few days later?

Ken cancelled the project. And I think he confirmed that himself. There can't be an obligation for eASIC to issue a refund if the customer cancels that would be weird. He probably made up the possibility of a refund to stop us attacking him for throwing 1Mill down the drain with the NRE. Once you pay the NRE and the work is done the money is spent. You can't get a refund on NRE just like you can't get a refund for an architects work if you decide not to use his plans to build the house.

I dont know much about the specifics of chips and all that Jazz, and I know the contract would state no refunds.
Just seems weird to me if at the first stage it was dropped. We would get a really low reimbursement.
What if Ken wanted to work with them in the future? Not a great way to treat your customers.

Anyway what about my other point,

Ken has been holding onto preorders for a long time. ($6 million, but that's debatable).
This could have funded a chip. I know its not ethical, but other companies in this space do it.
Maybe he has been working on something? Or maybe not...

[JimmyJazz]

I was inclined to believe this wasn't the end until I heard Bargraphics statement that Ken has totally cancelled any plans for a 28nm

From my understanding, it was slightly too expensive for Ken to do with his funds so he tried to do this whole HashFast board clone to raise funds and mine, once he had enough he would be trying to do that 28nm.

Unfortunately this MSD ruling sure does put a damper on that plan along with the fact that it would likely take months of Ken withholding customer refunds to fund the 28nm that would then take 4-6 months to be born since the 55nm was ready for tapeout and a 28 would have to go into backend design (although quicker because it's based on an existing design and the same backend design company would hopefully be doing it)



Long story short, no matter what Ken says on here, he'a full of it unless he provides unequivocal proof of whatever he's talking about.


Another fun fact, when I visited I called bullshit on his Intellihash and said that it's probably just a gimmick. He shrugged his shoulders and said I'll have to wait and see.

I think we'll all be waiting a long time (read forever)

PRESS RELEASE

Springfield, MO and Santa Jose, CA – January 21, 2014 – Active Mining Corporation (Belize) (AMC) a bitcoin Mining and Hardware Manufacture, and  People's ASIC a stealth Silicon Valley startup founded by two veteran engineers is proud to announce today the tape-out of their 55 nm UMC Bitcoin Mining ASIC.  The ASIC features SHA256 optimizations according to a scientific paper by Dadda et al.

Simultaneously, AMC has acquired the Intellectual Property (Verilog code, test bench, GDS-II data, etc. for the 55nm UMC Bitcoin Mining ASIC.  Delivery of chips is expected in Q2/2014.  Also, AMC will use the same design team and code which successfully taped out the 55 nm on AMC's eASIC's 28 nm.  EASIC's 28 nm development has been upgraded to a full custom 28 nm.

So when did this stop becoming truth (on face value)?

[sparky999]

I was inclined to believe this wasn't the end until I heard Bargraphics statement that Ken has totally cancelled any plans for a 28nm

From my understanding, it was slightly too expensive for Ken to do with his funds so he tried to do this whole HashFast board clone to raise funds and mine, once he had enough he would be trying to do that 28nm.

Unfortunately this MSD ruling sure does put a damper on that plan along with the fact that it would likely take months of Ken withholding customer refunds to fund the 28nm that would then take 4-6 months to be born since the 55nm was ready for tapeout and a 28 would have to go into backend design (although quicker because it's based on an existing design and the same backend design company would hopefully be doing it)



Long story short, no matter what Ken says on here, he'a full of it unless he provides unequivocal proof of whatever he's talking about.


Another fun fact, when I visited I called bullshit on his Intellihash and said that it's probably just a gimmick. He shrugged his shoulders and said I'll have to wait and see.

I think we'll all be waiting a long time (read forever)

PRESS RELEASE

Springfield, MO and Santa Jose, CA – January 21, 2014 – Active Mining Corporation (Belize) (AMC) a bitcoin Mining and Hardware Manufacture, and  People's ASIC a stealth Silicon Valley startup founded by two veteran engineers is proud to announce today the tape-out of their 55 nm UMC Bitcoin Mining ASIC.  The ASIC features SHA256 optimizations according to a scientific paper by Dadda et al.

Simultaneously, AMC has acquired the Intellectual Property (Verilog code, test bench, GDS-II data, etc. for the 55nm UMC Bitcoin Mining ASIC.  Delivery of chips is expected in Q2/2014.  Also, AMC will use the same design team and code which successfully taped out the 55 nm on AMC's eASIC's 28 nm.  EASIC's 28 nm development has been upgraded to a full custom 28 nm.

So when did this stop becoming truth (on face value)?

Wow I had totally forgotten that, possibly the biggest outright lie Ken ever told to shareholders.

[JimmyJazz]

Anyway what about my other point,

Ken has been holding onto preorders for a long time. ($6 million, but that's debatable).
This could have funded a chip. I know its not ethical, but other companies in this space do it.
Maybe he has been working on something? Or maybe not...

You are forgetting he's had that pre-order money for close to 9 months. In that time he has cancelled both a 28nm and a 55nm chip. He cancelled those chips because of 'lack of money'. There is no-way the 28nm would not have ROI (his excuse). So he cancelled and instead spent a few hundred k on HashFast chips.

So either he doesn't have the money or he does have the money but is keeping it for himself. He sure as hell is not spending it on this company because if he was or if that was his intention we would already have had a 28nm chip and a 55nm chip - months ago.

The first was stopped due to competitors coming out with better chips and taking the majority of pre orders.

The first 28nm was probably binned in November.

Up until recently he was saying we can expect a full custom chip in Q3.

[st4nl3y]

Another fun fact, when I visited I called bullshit on his Intellihash and said that it's probably just a gimmick. He shrugged his shoulders and said I'll have to wait and see.

oh right, okay this tells me ken didn't actually knew what he was doing and getting himself in to, but only funny part is you mentioning that now, when shit went through the fan already and splattered all over walls. unless you did mentioned it before but we missed it?..

[Prism]

Another fun fact, when I visited I called bullshit on his Intellihash and said that it's probably just a gimmick. He shrugged his shoulders and said I'll have to wait and see.

oh right, okay this tells me ken didn't actually knew what he was doing and getting himself in to, but only funny part is you mentioning that now, when shit went through the fan already and splattered all over walls. unless you did mentioned it before but we missed it?..

He didn't.

He's trying to cover his tracks and push blame elsewhere when he was quite happy to pump the stock and price beforehand!!

[Bargraphics]

Another fun fact, when I visited I called bullshit on his Intellihash and said that it's probably just a gimmick. He shrugged his shoulders and said I'll have to wait and see.

oh right, okay this tells me ken didn't actually knew what he was doing and getting himself in to, but only funny part is you mentioning that now, when shit went through the fan already and splattered all over walls. unless you did mentioned it before but we missed it?..

He didn't.

He's trying to cover his tracks and push blame elsewhere when he was quite happy to pump the stock and price beforehand!!

First what was there to report? Nothing I'm simply saying it never materialized

Second I haven't sold any shares nor cared to since July of last year. (Not that you could trade anyways)

You guys need to get a grip on reality and stop reaching for others to blame.

Stick to your moonlighting internet sleuth work, not that you are much better at that.

[JoTheKhan]

Another fun fact, when I visited I called bullshit on his Intellihash and said that it's probably just a gimmick. He shrugged his shoulders and said I'll have to wait and see.

oh right, okay this tells me ken didn't actually knew what he was doing and getting himself in to, but only funny part is you mentioning that now, when shit went through the fan already and splattered all over walls. unless you did mentioned it before but we missed it?..

He didn't.

He's trying to cover his tracks and push blame elsewhere when he was quite happy to pump the stock and price beforehand!!

I agree, except for "pump the stock and price beforehand." As the shares were not being traded, better to say. Quell discontent that was gaining momentum at the time of his venture.

We all see how anyone who says anything good about a company when it goes under, turns out to be a scam, etc.. Also gets the pitchforks thrown into their faces (In this case, I would assume Zum, Vince, GJP, BG, etc.. though I can't feasibly blame them for anything about this company) along with said company. BG is trying to make sure he leaves this physically and reputably unscathed I assume.

Anyways, BG never mentioned the load of crock that Intellihash was on the forum IIRC. But it doesn't matter, it was obviously a lie. The problem is everything else, we have no proof of anything else Ken has said on this forum except for maybe one or two things here or there. For all we know, Ken sat on his ass from Summer 2013 to Spring 2014 and then decided to buy chips and make boards. I really haven't seen much proof of anything else.

[knybe]

Guys, if you bought shares on BTCT. You will have received emails stating how man you bought, what you paid for each share and the time and date of the purchase. If you transfered your shares from BTCT to Bitfunder you will have a record of this from having an email with Ken as that's how we contacted him for transfer.

No matter how high the bar Ken tries to make it to prove ownership of shares, there is more than enough proof. (Thank you Burnside)

this explains how to use your API key (you should have received from burnside when he closed down shop) to retrieve a CSV of your various data:

https://btct.co/faq?tab=tab5

[SebastianJu]

The only reason the MSD is involved is because of US the investors. He may be incompetent but we invested in a super risky area using an unregulated currency and then when things went badly think the government will help. The whole point of BTC is to not involve the government in it, its unregulated. You knew the risks stop whining that the company is going bankrupt. The investors are just speeding up the process by involving the MSD.

All investments have risk. This was a super risky one and as such its failure should be no surprise.

Theres no chance to get back anything worthwhile from ken i believe. So involving the government only would be useful to punish a possible scammer. Not for making everything good again.

But i dont think that Bitcoin should stay fully out of the law. Thats too extreme because it would mean that every scam could happen and started without risks. That would mean bringing Bitcoins down pretty fast.

I think contracts are contracts to be followed. If only one side is filled then the other side has to live with the results for breaching the contract.

The biggest problem is the great amount of noobs and persons that start a business without having experience in business decisions. Together with the lack of infos, that prevent making your own overview, its a very risky thing from the start.

Lets hope Bitcoin gets some more professional entrepreneurs that actually can do what they plan. That way Bitcoin could finally get out of the negative press.

[bitmoon]

also why there is buy orders? if this is total lost?

some even bought day ago or so.

[Bargraphics]

Anyways, BG never mentioned the load of crock that Intellihash was on the forum IIRC.

First that was my opinion on it, sorry I didn't make it vocal on here for the trolls since I only put out facts when I came back from my trip on the forum. If you wanted to know my opinion on it you should have been in IRC when I stated multiple times to the main shareholders that I didn't know what it could possibly be and I thought it was a gimmick.

Ultimately I don't give two shits about anyone individually on this plague filled forum. As a whole, ActiveMining "Investors" need to bail in whatever way you can from this company. You can blame myself, Micky Mouse, MSD, or whoever/whatever you want for all I care.

Reality of the situation doesn't change. Game over.

[zumzero]

This is getting out of hand.  Just because people say it's over doesn't make them the authority.  I respect Bargraphics and and what he has to say, but he is wrong about saying the company is finished.  If this MSD issue hadn't come to light when it did, we would all be waiting patiently for news of a major breakthrough. At least the more level headed of us would. Any talk of Ken going into hiding is pure fantasy and what is far closer to the actual truth is that he's keeping his cards close to his chest which is what he does.  Two things have happened recently, the HF deal and the MSD announcement.  Ken silence is due to the HF deal and the doom & gloom brigade think it's because of the MSD announcement.  Sit back and wait for news, it will come soon enough and when it does there will be panic buying given the current prices.  I would be buying right now if I had the cash.  

[drawingthesun]

This is getting out of hand.  Just because people say it's over doesn't make them the authority.  I respect Bargraphics and and what he has to say, but he is wrong about saying the company is finished.  If this MSD issue hadn't come to light when it did, we would all be waiting patiently for news of a major breakthrough. At least the more level headed of us would. Any talk of Ken going into hiding is pure fantasy and what is far closer to the actual truth is that he's keeping his cards close to his chest which is what he does.  Two things have happened recently, the HF deal and the MSD announcement.  Ken silence is due to the HF deal and the doom & gloom brigade think it's because of the MSD announcement.  Sit back and wait for news, it will come soon enough and when it does there will be panic buying given the current prices.  I would be buying right now if I had the cash.  

I don't believe you.

You could take out a $10,000 bank loan right now and buy a major stake in this company. Then at 0.0005 you would have over 1,000 Bitcoins.

[Bargraphics]

There's no HashFast deal

HashFast is filing for chapter 11

All creditors will probably receive bare chips(Ken is not a creditor and if somehow he is, he's at the ass end of that list)

Creditors need boards made and I recommended to a few major ones that Ken and MrTeal could make boards. After this MSD release I have personally went to them and recanted my suggestion to use Ken. They may still use him though, who knows. Not that it matters because he won't have funds to produce anything after the Shareholder refunds.