[ActiveMining] Official Shareholder Discussion Thread [Moderated]

[Phildo]

...

Sky is falling.

Not sure if you've been following the thread, but the sky has fallen and it's over.

Nah man, when bitcoins are worth 1 billion dollars each, you're going to be grateful to have the dust the mining farm generated instead of the on of coins you guys gave Ken originally.

[NotLambchop]

...
Have you sold all your shares?

JommyJazz, care to say how many virtual profit shares of the virtual identity known as Active Mining you're holding?  It's a dull morning...

[drawingthesun]

Nothing has changed. We were aware of the MSD situation.

The situation has changed, the MSD is now moving against ActiveMining, before it was simply an investigation.

The fines and forced buybacks can easily cripple ActiveMining even if it was (now) a legitimate operation.

In addition to this, ActiveMining still owes many customers their pre-order money, ActiveMining has owed this money for 8 months now.

Simply put, the situation has changed drastically. We knew it was going to happen, we just hoped that Ken had something up his sleeve so that we could actually absorb the order (MSD)

For example, if by this time we had paid back all the customers and were regularly giving out dividends of 100 bitcoin per month, with also a bright future with the 28nm ASIC on its way, then the MSD order, when it came would be less disastrous than it is currently.

Instead, Ken still has not paid us a dividend in 9 months, we owe hundreds of thousands in pre-orders and now Ken has to buy back shares and no investor wants to keep them, with no upside why stay? Also we know for certain through Bargraphics that Ken has scraped our ASIC development putting all of his eggs into the Hashfast basket.

Before the MSD order, we had no idea that Ken actually cancelled everything except Hashfast.

Many things have changed, obviously you haven't been reading the thread.

Ken has more money than you let on.

Where is this money? Do you claim to know something we don't?

Have you sold all your shares?

I was selling a few before the price crashed into the five zeros territory. I have 40,000 left.

[Bargraphics]

After all, someone's buying the shares.

People also bought "Gox" BTC simply because it was so cheap they felt they could gamble to see if it was recovered or ever will be recovered.

There are still people selling "Gox accounts" for fractions of the bitcoin on them to people that believe Gox will be taken over and everyone paid back out.



The people buying these shares are the same types of people that bought those Gox BTC.

Who are the same type of people who invest in high risk bitcoin startups, exept they can accept their losses.

Fortunately most of us did our accepting, there seems to be a few stragglers though.

Fortunately for Ken since he has no obligations to anyone after this Shareholder MSD Refund is completed and his sales refunds are completed, he will be in the black financially. It might only be a few dollars but without expenses due to not having done anything or having completed any major projects he could technically keep this company "afloat". Unfortunate for those stragglers though as there will never "profit" for which "shareholders" or more likely "contract holders" after Ken reorganizes his company to be paid.


That 85TH mine hosted in Hot Hot Nevada (Everyone wonders why there are constant AC issues hah) will probably have to be liquidated. If for whatever reason it doesn't have to be, it will only produce enough to keep paying the payroll.

[Jasun7211]

Nothing has changed. We were aware of the MSD situation.

The situation has changed, the MSD is now moving against ActiveMining, before it was simply an investigation.

The fines and forced buybacks can easily cripple ActiveMining even if it was (now) a legitimate operation.

In addition to this, ActiveMining still owes many customers their pre-order money, ActiveMining has owed this money for 8 months now.

Simply put, the situation has changed drastically. We knew it was going to happen, we just hoped that Ken had something up his sleeve so that we could actually absorb the order (MSD)

For example, if by this time we had paid back all the customers and were regularly giving out dividends of 100 bitcoin per month, with also a bright future with the 28nm ASIC on its way, then the MSD order, when it came would be less disastrous than it is currently.

Instead, Ken still has not paid us a dividend in 9 months, we owe hundreds of thousands in pre-orders and now Ken has to buy back shares and no investor wants to keep them, with no upside why stay? Also we know for certain through Bargraphics that Ken has scraped our ASIC development putting all of his eggs into the Hashfast basket.

Before the MSD order, we had no idea that Ken actually cancelled everything except Hashfast.

Many things have changed, obviously you haven't been reading the thread.

Ken has more money than you let on.

Where is this money? Do you claim to know something we don't?

Have you sold all your shares?

I was selling a few before the price crashed into the five zeros territory. I have 40,000 left.

I'll take em for 500 satoshis.  Throw em up on C-T send me a pm and you will be set free.  LMK

[JimmyJazz]

Bargraphics do you have any proof the 28nm is binned?

[drawingthesun]

I'll take em for 500 satoshis.  Throw em up on C-T send me a pm and you will be set free.  LMK

Haha I am free.

I'm going to hold them to see what happens during the buy back, it's not worth selling them as I put about that much into Bitcoin every week anyway.

[kokoarm]

Bargraphics do you have any proof the 28nm is binned?

Have you got any proof that Ken has 'a lot more money'? Is there any proof of anything here? Is there proof that Ken paid eASIC, that he bought Peoples ASIC, that he has an engineering team, that he was present or even represented at the HF case, that he ever had plans for a 28nm past the eASIC plan?

You are asking someone to prove something has been cancelled but there is no proof that it was ever started!

[Bargraphics]

Bargraphics do you have any proof the 28nm is binned?

You are asking the wrong question to the wrong person.

You should be asking Ken if he has any proof the 28nm is still on track to be made.

The answer would be No



My proof resides in individuals I trust to provide me accurate information since Ken lies/withholds the truth (lies).

They have stated that there wasn't enough money to do the 28nm and it was put on hold. eASIC was put on hold too and that eventually turned into cancelled.

In the bitcoin world, hold is cancelled as since the 28nm would have to go back through the design phase it would take many many months before a chip would surface.

If you want to stick your fingers in your ears and go "lalalalalal" by all means go for it. I was willing to "wait and see" on this company as well but it's on it's deathbed now and I would seriously consider the evidence surrounding that opinion before sticking those fingers back in.

Anyways I'm out of this thread. Everyone should be calling the MSD and voicing your complaints/opinions on buyback price. Let them tell you the next steps and you can decide if you want to wait for the MSD, seeks legal council, or hold out on this company.

[JimmyJazz]

Why dont you have your peoples asic mates on here calling Ken out as a scammer?

[shaofis]

Why dont you have your peoples asic mates on here calling Ken out as a scammer?

Why would they willingly step into the crossfire? They aren't in a position making any decisions... this failure sits on Ken's shoulders alone.

[JimmyJazz]

It would be the ethical thing to do, or does Bargraphics keep bad company?

[drawingthesun]

Why dont you have your peoples asic mates on here calling Ken out as a scammer?

Why would they willingly step into the crossfire? They aren't in a position making any decisions... this failure sits on Ken's shoulders alone.

They are long gone. If Ken was truthful and paid them 150,000 shares for their time, then they would have left months ago, no employee waits around for $1,000.

[kleinessteak]

The speculation and posts in this thread are a joke.

Why the f*ck isn't Ken saying anything about whats going on?!

[drawingthesun]

The speculation and posts in this thread are a joke.

Why the f*ck isn't Ken saying anything about whats going on?!

Ken is now in full "us vs them" mode where the customers and shareholders are enemies that threaten to take away Ken's right to our Bitcoin.

[JimmyJazz]

Why dont you have your peoples asic mates on here calling Ken out as a scammer?

Why would they willingly step into the crossfire? They aren't in a position making any decisions... this failure sits on Ken's shoulders alone.

They are long gone. If Ken was truthful and paid them 150,000 shares for their time, then they would have left months ago, no employee waits around for $1,000.

Surely they would come on here explaining the situation if they hold such a grudge.


If you sold your IP for 150,000 shares and the price fell to what it is now. With the facts that Ken is a scammer. Would you not be on here telling everyone?
Would that not be the sound thing to do in the bitcoin community?
Afterall, this is Bargraphics mates, we believe whatever he says.

[drawingthesun]

Why dont you have your peoples asic mates on here calling Ken out as a scammer?

Why would they willingly step into the crossfire? They aren't in a position making any decisions... this failure sits on Ken's shoulders alone.

They are long gone. If Ken was truthful and paid them 150,000 shares for their time, then they would have left months ago, no employee waits around for $1,000.

Surely they would come on here explaining the situation if they hold such a grudge.


If you sold your IP for 150,000 shares and the price fell to what it is now. With the facts that Ken is a scammer. Would you not be on here telling everyone?
Would that not be the sound thing to do in the bitcoin community?
Afterall, this is Bargraphics mates, we believe whatever he says.

You make a really good point, these guys created some IP that wasn't exactly crap, so it had some value, probably a lot more than $1,000 worth of value. Although they were already too far behind in the game to compete with KNC.

I wonder why they are silent? Most likely they made more than the 150,000 shares and Ken is lying to us.

[NotLambchop]

Does anyone know who they are/if they exist/they dealt with Ken (never heard of People's Asic), or is Bargraphic's word cannon?

[Bargraphics]

Why dont you have your peoples asic mates on here calling Ken out as a scammer?

Why would they willingly step into the crossfire? They aren't in a position making any decisions... this failure sits on Ken's shoulders alone.

Exactly,

If they wanted any part of this then they would be on here.

Don't you think they a hurting bad enough selling their IP for pennies on the dollar for shares of a company that Ken led them to believe would succeed?

Don't you think they believe Ken would make their chip and port it to a 28nm which is why they sold it?


Once they signed over the IP for the shares and Ken cancelled the project, there's little they can do at that point.

Technically they could probably contact the MSB and get back their IP since it was sold strictly for shares. I imagine this was an illegal transaction. I think I'll contact them today about this.

You make a really good point, these guys created some IP that wasn't exactly crap, so it had some value, probably a lot more than $1,000 worth of value. Although they were already too far behind in the game to compete with KNC.

I wonder why they are silent? Most likely they made more than the 150,000 shares and Ken is lying to us.

Actually Ken didn't lie about that share payment. It's very unfortunate.

Does anyone know who they are/if they exist/they dealt with Ken (never heard of People's Asic), or is Bargraphic's word cannon?

You love to do research yet you can't even look back when this deal was announced and people posted links to People's ASIC and confirmed they existed? Even if they did "come on here" you would simply say that it was an alt account of someone. What exactly would you be comfortable with that could be used as "proof"?

I have no problem asking People's ASIC to make a post on here but I highly doubt they even want to get involved.



PS: People's ASIC as far as I know were never Employees of Ken. Simply contractors that guided Ken on how to proceed with making the chips and sourcing parts for the HashFast board.
Their shares were not tradable just like the rest of us and I do not believe they ported them to CT.

[sparky999]

I would be interested to know if they still consider themselves part of AMC/VMC at this point.