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Topic: [Active Mining] The UNofficial Active Mining Discussion Thread [UNmoderated] - page 37. (Read 76050 times)

sr. member
Activity: 392
Merit: 250
This was an epic post.  I think there's another one with even more outlandish profit projections in it.

SPRINGFIELD, MO, – May 29, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines has announced today that they will purchase a second full batch (10,000) of Avalon chips to build ~31 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC's machine total to ~71 units. The ~71 machines will bring the cooperatives hash power to ~5,650,816 MH/s, ~35,651 GH/s, or ~5.651 TH/s. At the current Difficulty (which may be more or less in the future) of 12,153,412 this will bring the estimated total revenue as of this writing to a total of $30,318.86 per day and a yearly amount of $8,681,346.78. Active Mining Corporation is a Vanuatu International Business Company DBA Active Mining Cooperative (AMC).
https://bitcointalk.org/index.php?topic=219636.0;topicseen

This extremely exaggerated projection completely wipes out any chance for Ken to explain to the judge "Look, I have 4 avalons running that produce $200/day!"
Previous scammers have lost their battle due to impossible projections like this to their shareholders/victims...

You might want to stop jumping up and down and screaming as Active Mining Corporation (Belize) has not made any projections at all.  The shares to the company above are all owned by Active Mining Corporation (Belize).
sr. member
Activity: 392
Merit: 250
This was an epic post.  I think there's another one with even more outlandish profit projections in it.

SPRINGFIELD, MO, – May 29, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines has announced today that they will purchase a second full batch (10,000) of Avalon chips to build ~31 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC's machine total to ~71 units. The ~71 machines will bring the cooperatives hash power to ~5,650,816 MH/s, ~35,651 GH/s, or ~5.651 TH/s. At the current Difficulty (which may be more or less in the future) of 12,153,412 this will bring the estimated total revenue as of this writing to a total of $30,318.86 per day and a yearly amount of $8,681,346.78. Active Mining Corporation is a Vanuatu International Business Company DBA Active Mining Cooperative (AMC).
https://bitcointalk.org/index.php?topic=219636.0;topicseen

This extremely exaggerated projection completely wipes out any chance for Ken to explain to the judge "Look, I have 4 avalons running that produce $200/day!"
Previous scammers have lost their battle due to impossible projections like this to their shareholders/victims...
legendary
Activity: 1456
Merit: 1010
Ad maiora!
if ken would get these shares on an exchange, we could at least see our divs...we are owed divs since bf shut down...if we saw divs, that would quell a lot of the shit-storm of scam accusations. until these shares are fully listed, we don't know if ken even has the btc he already owes in past divs. the longer the shares sit in limbo, and the longer no divs go out, the more I am inclined to decide that YES ActM is a SCAM!
hero member
Activity: 756
Merit: 501
This was an epic post.  I think there's another one with even more outlandish profit projections in it.

SPRINGFIELD, MO, – May 29, 2013 – VMC a manufacturer of the Fast-Hash Bitcoin Mining Machines has announced today that they will purchase a second full batch (10,000) of Avalon chips to build ~31 Fast-Hash-80's for AMC should AMC provide the capital in the next few weeks, this would bring AMC's machine total to ~71 units. The ~71 machines will bring the cooperatives hash power to ~5,650,816 MH/s, ~35,651 GH/s, or ~5.651 TH/s. At the current Difficulty (which may be more or less in the future) of 12,153,412 this will bring the estimated total revenue as of this writing to a total of $30,318.86 per day and a yearly amount of $8,681,346.78. Active Mining Corporation is a Vanuatu International Business Company DBA Active Mining Cooperative (AMC).
https://bitcointalk.org/index.php?topic=219636.0;topicseen
legendary
Activity: 1456
Merit: 1010
Ad maiora!
Oh My God this is awful. where do I even begin?
I feel like Ken is speculating on the price of btc to bail out this jalopy.

Dividends, remember those? Please don't speculate with btc owed to your investors Ken. Also, speculation is a poor business model. Share trading is important to your investors, even if it doesn't matter to you. I guess we wait because at this point no one would buy them anyways. Yeeesh!

Disappointing? It is a different thing when the disappointment is mostly expected.

Go hire a kid to code your share reclamation thing, get someone to do it. It's not costly, just time consuming, I understand that much. I also know that your local university would have students eager to make a quick dollar to punch in some code. Get Er Dun, Boy-o!

hero member
Activity: 756
Merit: 501

Good times.  I miss VBS.

Thanks for the links.  I feel a lot better now.  I was feeling seriously bad for the bagholders after today's debacle.

Then I see how clearly I presented the facts of why this would be a disaster over 6 months ago, and how much shit was thrown my way for the effort...
sr. member
Activity: 259
Merit: 250


the man has no integrity left what so ever, he is relying heavily on deleting unwanted posts.
sr. member
Activity: 259
Merit: 250
instead of answering people legitimate concerns , Ken is deleting posts as soon as they come up. I have seen this pattern of deleting posts somewhere else.....  wait a minute that was labcoin which turn out to be a scam, wonder how long this douche can dance around with people money
hero member
Activity: 756
Merit: 501
I wonder if Ken has any assets that bag-holders can capture when the inevitable law suits start flying?

Nope, nothing at all.

We have the Avalon money that would return about 2% of my investment.

I'm talking about his personal assets.  He's an old man.  He should have a house at least.

Yeah the house will just about cover lawyer fees.

$300,000 = 330 bitcoin / 10,000,000 * 114,425 = An additional 3.77 bitcoin.

That less than a percent of my investment.

1% > 0%

You guys should at least prevent him from wasting whatever assets still exist in the company on trying to build a device he isn't qualified to build that would be obsolete if he had it in hand today.
sr. member
Activity: 259
Merit: 250
Ken what a scum bag you are !!!! these are my posts that got deleted by dreaded pirate ken,

Quote
Quote from: Vigil on Today at 10:32:27 PM
Quote from: somestranger on Today at 10:30:19 PM
Yes he said the RTL code was done but then today he said this:

Quote from: kslaughter on Today at 08:41:52 PM

Our engineers are still designing our board. We had to change our engineering firm, and
learn a few lessons about hiring an engineer firm.  We don't have a date at this time.

Quote
What do you estimate the ActM hashrate be at the end of January, February and March?

Due to our inexperience with design, we have had a few set backs; however, we have hired
the most competent RTL design team to make sure that when we spin up our chip it will work.  They are
very competent at Low-Power and getting the most speed from the chip.

Exactly, so what the firk is up? why not just hire them from the beginning and do it right the first time?

because he is an incompetent idiot running this show. This whole thing is tuning out like the UKYO situation ( lies upon lies) except we have a smoke blowing session every Wednesday.


Quote
Quote from: RickJamesBTC on Today at 10:40:21 PM
You guys sitting around waiting for your "investment" to mature have some serious patience. This ship is sailing away. Lies, more lies, and more delays are all you will get. The people who screwed up and invested money they can't recoup will stay here and talk about how great it is and how rich they will be. The smart ones will just forget about it or do something to try and get their money back. At this point, the investment vehicle is probably completely illegal, you should be getting the government involved to investigate.  

Maybe shareholders need to pursue legal avenues to force ken to return the money he stole from us by lying to us for almost a year. Who wants to report Ken & Co to SEC unless he comes out and shows us some proof that he is been working on something for god sake


Quote
Quote from: Jasun7211 on Today at 11:04:52 PM
Quote from: hobbymd on Today at 10:51:05 PM
Quote from: RickJamesBTC on Today at 10:40:21 PM
You guys sitting around waiting for your "investment" to mature have some serious patience. This ship is sailing away. Lies, more lies, and more delays are all you will get. The people who screwed up and invested money they can't recoup will stay here and talk about how great it is and how rich they will be. The smart ones will just forget about it or do something to try and get their money back. At this point, the investment vehicle is probably completely illegal, you should be getting the government involved to investigate.

Maybe shareholders need to pursue legal avenues to force ken to return the money he stole from us by lying to us for almost a year. Who wants to report Ken & Co to SEC unless he comes out and shows us some proof that he is been working on something for god sake

Why these are virtual investments.  Remeber Burnside's disclaimer, that hold true.  What forum would you seek legal reprocussions. ..unicorn court?   I'd never bring the feds into any of this, they are looking for an excuse to jump, and could be the catalyst for a big hit to the BTC eco system.  Que sera, sera.  

then so be it, if SEC doesn't care about virtual shares, then feds is next best option ( BTC was declared as real money by a judge couple of months ago) because Ken simply has stolen our money and only gives us virtual updates about the progress of a virtual product. sounds like a scam to me. We only have pictures of empty server cases with some PSUs in an empty garage( oh i forgot couple of work benches ) . I say Ken is walking on a thin line here

Quote
Quote from: my post, now deleted by Ken
Please understand that this guy scams for a living.  You are not going to outwit him at his own game.  He'll feed you a barely plausible line like "Uh, NDA," and what will you do?  He has managed to keep the balls in the air since Active Miner wasn't even an exit strategy for VMC, what makes you think he'll drop them now?

well when the feds knock on his door, he can't just tell them it's NDA or just try to delete them. Someone need to gives Ken a dose of reality here. He took peoples' money and promised something in return, so far he has been going back and forth on his own words. instead of deleting posts come out of your rabbit hole and defend your actions.  
legendary
Activity: 1176
Merit: 1015
I wonder if Ken has any assets that bag-holders can capture when the inevitable law suits start flying?

Nope, nothing at all.

We have the Avalon money that would return about 2% of my investment.

I'm talking about his personal assets.  He's an old man.  He should have a house at least.

Yeah the house will just about cover lawyer fees.

$300,000 = 330 bitcoin / 10,000,000 * 114,425 = An additional 3.77 bitcoin.

That less than a percent of my investment.
legendary
Activity: 1176
Merit: 1015
I wonder if Ken has any assets that bag-holders can capture when the inevitable law suits start flying?

Nope, nothing at all.

We have the Avalon money that would return about 2% of my investment.
legendary
Activity: 1246
Merit: 1000
103 days, 21 hours and 10 minutes.
It's so pathetic that someone has as much time as you do.
newbie
Activity: 7
Merit: 0
Dolor - there is no way you are Eastern European with that level of written English.
Let's play a game. I'll start.

Dolor = Mr LorenzoMoney
thepostman = VE
reloaded = crumbs
Mabsark = Mabsark




Feel free to doubt.   In the meantime, here's another challenging puzzle for you:  See how many workers you can find working on Ken's assembly line Smiley

http://s8.postimg.org/b5lbdv751/product.jpg

Feel free to post your answer below.
newbie
Activity: 7
Merit: 0
Active Miners!

I welcome you into the land where group hugs and delirium tremens have ousted common sense.  Where sulfurous stench is never-ending, and Madness festers on the face of Despair, the wretched harlot who birthed you the bastard Poverty!

Crumbs, Stuartuk, zumzero have worked tirelessly together to ouster logic and critical thought.  And now also the axe is laid unto the root of the trees: therefore every tree which bringeth not forth good fruit is hewn down , and cast into the fire.

The dark reign of Ken, whose name is Legion, is upon you!
Abandon hope, all ye who enter here, for Now You're Thinking With Portals!

https://images.weserv.nl/?url=s11.postimg.org/o1nasp4kz/portal.jpg&fnr

Merry Christmas everyone!
newbie
Activity: 5
Merit: 0

Crumbs was banned a few days ago, hence his lack of posting. A few others were as well, so I don't think you will get your picture.  Sad


Crumbs was banned to?  Im happy now because hes an ass hole.
http://i.imgur.com/5Wl0sqk.png
~Merry Chrismass Everyone!~

legendary
Activity: 2590
Merit: 2156
Welcome to the SaltySpitoon, how Tough are ya?
well thanks to StuarkUK and zumzero the "official" Active Mining Discussion Thread has been given it's final warning - https://bitcointalksearch.org/topic/m.4114151.  i hope this means we wont have to read all their drivel and can just read facts and pertinent info.

Wow, what a meltdown.  

I was like: Huh   Shocked   Undecided   Sad   Cheesy

I don't see why I was specifically excluded from participation in that thread.

Excluding me did nothing to prevent it from become a gargantuan trainwreck.

Anways, I hope Crumbs the Christmas Elf will grant my wish and make us a funneh picture of LabKen as Drunken Santa...

Pleeze?

Crumbs was banned a few days ago, hence his lack of posting. A few others were as well, so I don't think you will get your picture.  Sad

Also, where were you specifically excluded and by who? You aren't on the naughty list.
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
well thanks to StuarkUK and zumzero the "official" Active Mining Discussion Thread has been given it's final warning - https://bitcointalksearch.org/topic/m.4114151.  i hope this means we wont have to read all their drivel and can just read facts and pertinent info.

Wow, what a meltdown. 

I was like: Huh   Shocked   Undecided   Sad   Cheesy

I don't see why I was specifically excluded from participation in that thread.

Excluding me did nothing to prevent it from become a gargantuan trainwreck.

Anways, I hope Crumbs the Christmas Elf will grant my wish and make us a funneh picture of LabKen as Drunken Santa...

Pleeze?
hero member
Activity: 630
Merit: 500
well thanks to StuarkUK and zumzero the "official" Active Mining Discussion Thread has been given it's final warning - https://bitcointalksearch.org/topic/m.4114151.  i hope this means we wont have to read all their drivel and can just read facts and pertinent info.
hero member
Activity: 756
Merit: 501
I put in an order several months ago for one of their fast hash platinum, ended up wiring little over $9,000. Pretty much after that they've gone silent. I tried to get several updates from them to see the status of the shipping, get assurances of delivery and nothing. Then out of luck i was able to get someone from sales on the phone sometime around thanksgiving weekend. They told me over the phone that they were going to have issues delivering on time as they were still in the manufacturing process.

At this point my first thought was well 1.5Terahash for nine grand isn’t going to make its ROI efficiently based on the current difficulty rate so I asked for a refund. They said yes to the refund but it's been well about 3 weeks since that, no one is answering my emails or tickets, no one answers the phone either (call screening maybe), but since then its been impossible. I am worried this might be a scam since they haven’t shipped, no one has seen their hardware (except from some press releases). And they don’t seem to be honouring their praised and very advertized refund policy either.

I find it hard to believe it takes 3 weeks to get a wire transfer setup to refund the money that was easily sent to them via the same method in around 2 days time when I purchased the order. I am happy to provide proof and transcripts.

Just tell this guy to file a complaint with the FTC. BFL was forced or deliver refunds that way.
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