How is anything going on witgh Hashfast related to ActM ??
Since when did Ken mention he was having anything to do with it?
Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 101. (Read 629899 times)
May 24, 2014, 10:33:58 PM
May 24, 2014, 06:02:18 PM
Brilliant. The judge just asked how he would go about buying a quantity of chips and the HF dude said you wouldn't go to Amazon or Walmart. Then the judge pipes up that he's sure he could get an Amazon or Walmart drone to deliver for a better price tomorrow. When they all started laughing he said to the female lawyer who was on conference call, "If you're gonna laugh at the judges jokes you may as well say who you are."
This bodes well.
Edit; the judge rules and doesn't deny the Liquidbits motion and wants to resume on Wednesday at 0930. He also granted the continuation of an in progress transaction for chip sales. Some lucky customer get's to see their order fulfilled. Who are they and how many chips are involved???
This bodes well.
Edit; the judge rules and doesn't deny the Liquidbits motion and wants to resume on Wednesday at 0930. He also granted the continuation of an in progress transaction for chip sales. Some lucky customer get's to see their order fulfilled. Who are they and how many chips are involved???
May 24, 2014, 05:42:36 PM
https://dl.dropboxusercontent.com/u/7804267/hashfast%20hearing%20federal%20bankruptcy%205.23.2014.mp3
When the Liquidbits lawyer said that stopping chip sales is important to prevent HF's money being redirected away from the creditors the judge chuckled to himself and pointed out that HF being able to SELL chips is actually a good thing. I like this guy. This is going to end well for ActM.
Hashfast confirmed they have only sold 5% of their chips of the 40,000.
HF are concerned that when a deal is struck the pricing levels will become public knowledge and expressed concerns that those interested parties are active on forums.
And we wonder wonder why Ken plays his cards close to his chest. There you have it.
HF just went heavy on a solution when they defended the concept of a 'floor' pricing. "How could we sell chips at X if the court made public the pricing structure and then a customer wanted to pay only Y?" The solution IS the deal that Ken & Co are offering.
Having listened to almost the entire hearing (less 14 mins) I conclude that every party involved is aiming for a mutual positive outcome. The mood in the courtroom is light and jovial, the judge is a good guy and concedes he knows nothing about the Bitcoin mining industry. What matters to us is that he is happy to tell us that and as such is more likely to do the right thing.
When the Liquidbits lawyer said that stopping chip sales is important to prevent HF's money being redirected away from the creditors the judge chuckled to himself and pointed out that HF being able to SELL chips is actually a good thing. I like this guy. This is going to end well for ActM.
Hashfast confirmed they have only sold 5% of their chips of the 40,000.
HF are concerned that when a deal is struck the pricing levels will become public knowledge and expressed concerns that those interested parties are active on forums.
And we wonder wonder why Ken plays his cards close to his chest. There you have it.
HF just went heavy on a solution when they defended the concept of a 'floor' pricing. "How could we sell chips at X if the court made public the pricing structure and then a customer wanted to pay only Y?" The solution IS the deal that Ken & Co are offering.
Having listened to almost the entire hearing (less 14 mins) I conclude that every party involved is aiming for a mutual positive outcome. The mood in the courtroom is light and jovial, the judge is a good guy and concedes he knows nothing about the Bitcoin mining industry. What matters to us is that he is happy to tell us that and as such is more likely to do the right thing.
May 24, 2014, 04:06:55 PM
What stock do you have, exactly? Every component required for 5000 boards? So ASIC, long and short lead components, PCBs? If so, what are you waiting for to produce them?
The production (placement) cost is little in respect to the stock costs.
We have proven that we have the ability to place raw FH chips on boards and sell them. We also have the cash on hand to produce the boards, what we don't have is a chip. Now FashHash has a chip in hand, but they do not have the money to place them on boards and get them to market. I feel it would in be both companies' best interests if the two companies could figure out a way to make a deal that works for both them and the creditors/shareholders. The production (placement) cost is little in respect to the stock costs.
Edit: The hash rate is going up 2% a day, the faster this is fixed the more money everyone is going to get back. WS stock brokers would kill for 2% a day.
https://blockchain.info/address/1DJpsvnM7xTnQbWEhLYyCyfxQyxwupEzCa
https://blockchain.info/address/16yTynjmSe5bsRGykDaaCL5bm2pxiEfcqP
May 24, 2014, 04:00:05 PM
cedivad, when you stop pointing the finger and become less territorial then we can work together.
In your own thread, which you dominate and admit you post too frequently on (much like myself here), you are too quick to condemn. I honestly don't want to wind you up but have to point out your misgivings in the hope you take a step back and reassess.
Your dislike for ActM is apparent and your posting history in this thread supports that conclusion, but if it's success you are after, like the rest of us, then why not jump into bed with the enemy?
You clearly come with technical knowledge, enthusiasm and passion, so why not embrace your fellow bitcoiners who are very much like you but picked a different team?
Edit; you provide the chips, we turn them into miners and everyone gets a slice of the pie.
In your own thread, which you dominate and admit you post too frequently on (much like myself here), you are too quick to condemn. I honestly don't want to wind you up but have to point out your misgivings in the hope you take a step back and reassess.
Your dislike for ActM is apparent and your posting history in this thread supports that conclusion, but if it's success you are after, like the rest of us, then why not jump into bed with the enemy?
You clearly come with technical knowledge, enthusiasm and passion, so why not embrace your fellow bitcoiners who are very much like you but picked a different team?
Edit; you provide the chips, we turn them into miners and everyone gets a slice of the pie.
Sounds like a good idea, I wouldn't mind some of my 400 bitcoin back.
May 24, 2014, 03:55:46 PM
cedivad, when you stop pointing the finger and become less territorial then we can work together.
In your own thread, which you dominate and admit you post too frequently on (much like myself here), you are too quick to condemn. I honestly don't want to wind you up but have to point out your misgivings in the hope you take a step back and reassess.
Your dislike for ActM is apparent and your posting history in this thread supports that conclusion, but if it's success you are after, like the rest of us, then why not jump into bed with the enemy?
You clearly come with technical knowledge, enthusiasm and passion, so why not embrace your fellow bitcoiners who are very much like you but picked a different team?
Edit; you provide the chips, we turn them into miners and everyone gets a slice of the pie.
In your own thread, which you dominate and admit you post too frequently on (much like myself here), you are too quick to condemn. I honestly don't want to wind you up but have to point out your misgivings in the hope you take a step back and reassess.
Your dislike for ActM is apparent and your posting history in this thread supports that conclusion, but if it's success you are after, like the rest of us, then why not jump into bed with the enemy?
You clearly come with technical knowledge, enthusiasm and passion, so why not embrace your fellow bitcoiners who are very much like you but picked a different team?
Edit; you provide the chips, we turn them into miners and everyone gets a slice of the pie.
May 24, 2014, 03:38:36 PM
That's not an answer, and your website lists that you have only 500 pcbs, while you claim to have stock for 5000 boards. I guess that the relationships between you and HF will soon become public or almost, so I will wait for that...
May 24, 2014, 03:36:44 PM
What stock do you have, exactly? Every component required for 5000 boards? So ASIC, long and short lead components, PCBs? If so, what are you waiting for to produce them?
The production (placement) cost is little in respect to the stock costs.
The production (placement) cost is little in respect to the stock costs.
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Fast-Hash One Gold Rush Blank PCB. This is a 12 Layer engineered board sample that is currently in production for our Gold Rush Fast Hash One boards. It is based on a Reference design from HashFast Evo Yoli boards. We have a continuous supply of these in our production facility, PCB Fab as well as Engineering Sample available. Email for bulk order or Assembly Pricing.
May 24, 2014, 03:35:42 PM
I would imagine VMC would need to provide satisfactory responses to questions such as yours before any contracts were awarded. In fact it's probable that Ken is in San Fransico for that very reason.
May 24, 2014, 03:16:53 PM
What stock do you have, exactly? Every component required for 5000 boards? So ASIC, long and short lead components, PCBs? If so, what are you waiting for to produce them?
The production (placement) cost is little in respect to the stock costs.
The production (placement) cost is little in respect to the stock costs.
May 24, 2014, 03:06:23 PM
It's a great question DTS which raises even more;
If they go for reorganisation (Ch. 11) as we suspect, would the IP still be up for grabs?
If it's liquidation (Ch. 7) then presumably the IP is up for grabs.
Are these Hashfast chips competitive enough for us to consider purchasing the IP or will they become redundant before a profit can be realised?
If they go for reorganisation (Ch. 11) as we suspect, would the IP still be up for grabs?
If it's liquidation (Ch. 7) then presumably the IP is up for grabs.
Are these Hashfast chips competitive enough for us to consider purchasing the IP or will they become redundant before a profit can be realised?
May 24, 2014, 03:03:07 PM
Guys, sincerely, because I don't see your point (and I already write too much on the hashfast thread): What do you think your contribution to be, exactly? The only thing HF needs is money. Do you want to invest into them, under the bankruptcy rules (you would be the first to get your money out?)?
Nothing magic is coming, apart from a deep investigation of every relationship between VMC and HF.
Nothing magic is coming, apart from a deep investigation of every relationship between VMC and HF.
It's quite simple. Many people are owed chips from HF. VMC has the stock and ability to quickly fab the Yoli Evo boards that those receiving liquidated chips will need. That's all I'm pointing out, at least. It'd be great if VMC was making a pass at acquiring the Golden Nonce IP but there is little to no evidence of that being pursued at this time.
May 24, 2014, 02:58:47 PM
Guys, sincerely, because I don't see your point (and I already write too much on the hashfast thread): What do you think your contribution to be, exactly? The only thing HF needs is money. Do you want to invest into them, under the bankruptcy rules (you would be the first to get your money out?)?
Nothing magic is coming, apart from a deep investigation of every relationship between VMC and HF.
Nothing magic is coming, apart from a deep investigation of every relationship between VMC and HF.
May 24, 2014, 02:53:38 PM
I'm one hour into the court hearing and becoming less bearish. Chapter 11 (Hashfast reorganisation) rather than chapter 7 (liquidation) is looking more likely. This would mean a fantastic opportunity for ActM as we are primed to sort this mess out for them and do well for ourselves.
I'm not sure how the unlikely chapter 7 ruling would affect us but, at the end of the day, those 40,000 chips exist, everyone is working towards a solution and ActM are extremely well placed to generate money from those chips which could pay off the creditors and leave us a tidy profit.
This is a business opportunity which can't be understated. Without this deal one wonders what ActM has left up its sleeve, but with it comes a massive injection of cash and the possibility of a bright future for the company.
The vultures are indeed circling and we have a birds eye view!
Edit: I also get the impression that the judge doesn't favour the liquidbits lawyer but am unsure how that effects things.
I'll need to listen on but it seems that we might learn more if they reconvene next Tuesday or Wednesday as has been suggested. If that's the case then perhaps Ken's news blackout could continue until then?
I'm not sure how the unlikely chapter 7 ruling would affect us but, at the end of the day, those 40,000 chips exist, everyone is working towards a solution and ActM are extremely well placed to generate money from those chips which could pay off the creditors and leave us a tidy profit.
This is a business opportunity which can't be understated. Without this deal one wonders what ActM has left up its sleeve, but with it comes a massive injection of cash and the possibility of a bright future for the company.
The vultures are indeed circling and we have a birds eye view!
Edit: I also get the impression that the judge doesn't favour the liquidbits lawyer but am unsure how that effects things.
I'll need to listen on but it seems that we might learn more if they reconvene next Tuesday or Wednesday as has been suggested. If that's the case then perhaps Ken's news blackout could continue until then?
What about buying the IP for the ASIC, getting some more chips to make the money to then produce our own ASIC?
Is their IP up for grabs, because this Peoples ASIC IP seemed to be a major dead end.
May 24, 2014, 02:47:24 PM
I'm one hour into the court hearing and becoming less bearish. Chapter 11 (Hashfast reorganisation) rather than chapter 7 (liquidation) is looking more likely. This would mean a fantastic opportunity for ActM as we are primed to sort this mess out for them and do well for ourselves.
I'm not sure how the unlikely chapter 7 ruling would affect us but, at the end of the day, those 40,000 chips exist, everyone is working towards a solution and ActM are extremely well placed to generate money from those chips which could pay off the creditors and leave us a tidy profit.
This is a business opportunity which can't be understated. Without this deal one wonders what ActM has left up its sleeve, but with it comes a massive injection of cash and the possibility of a bright future for the company.
The vultures are indeed circling and we have a birds eye view!
Edit: I also get the impression that the judge doesn't favour the liquidbits lawyer but am unsure how that effects things.
I'll need to listen on but it seems that we might learn more if they reconvene next Tuesday or Wednesday as has been suggested. If that's the case then perhaps Ken's news blackout could continue until then?
I'm not sure how the unlikely chapter 7 ruling would affect us but, at the end of the day, those 40,000 chips exist, everyone is working towards a solution and ActM are extremely well placed to generate money from those chips which could pay off the creditors and leave us a tidy profit.
This is a business opportunity which can't be understated. Without this deal one wonders what ActM has left up its sleeve, but with it comes a massive injection of cash and the possibility of a bright future for the company.
The vultures are indeed circling and we have a birds eye view!
Edit: I also get the impression that the judge doesn't favour the liquidbits lawyer but am unsure how that effects things.
I'll need to listen on but it seems that we might learn more if they reconvene next Tuesday or Wednesday as has been suggested. If that's the case then perhaps Ken's news blackout could continue until then?
May 24, 2014, 01:55:14 PM
There is no way chips would clear at $1/gh - they need to be around the $0.25, and they probably already are.
May 24, 2014, 01:24:09 PM
Here is the audio from the hearing yesterday:
https://dl.dropboxusercontent.com/u/7804267/hashfast%20hearing%20federal%20bankruptcy%205.23.2014.mp3
Edit: I highly recommend following the IceDrill thread as well as the HF thread in Hardware. Came across this very astute comment:
Note the bold. I think VMC has a very solid position in this mess. I would love to see Ken assist in recovering something for these guys. I also don't mind guaranteed business.
https://dl.dropboxusercontent.com/u/7804267/hashfast%20hearing%20federal%20bankruptcy%205.23.2014.mp3
Edit: I highly recommend following the IceDrill thread as well as the HF thread in Hardware. Came across this very astute comment:
Having listened to the recording it seems to look like a move to a voluntary Chapter 11.
It looks like the judge has set that there will be 'protections' put in place until then and the people seeking relief will get relief. Very positive for the creditors and debtor I think.
40,000 chips in hand at HF from the records.
The $ per Gh/s worth less each day on the HF chips. The sharks are circling and it doesn't matter no one is going to pay top dollar now for anything given the competition. You won't get a lot for these without a board, and a team that can build them. You have competition and the longer sales take the LESS everyone is going to get. Find someone that can run production is your only hope to recover anything for creditors.
$1 Gh/s is what AM is selling them there might be a floor you want... but every week you delay the floor will be dropping out from under you. All these parties are going to have to get together and FIX this fast or you are all screwed.
See you on Wednesday.
It looks like the judge has set that there will be 'protections' put in place until then and the people seeking relief will get relief. Very positive for the creditors and debtor I think.
40,000 chips in hand at HF from the records.
The $ per Gh/s worth less each day on the HF chips. The sharks are circling and it doesn't matter no one is going to pay top dollar now for anything given the competition. You won't get a lot for these without a board, and a team that can build them. You have competition and the longer sales take the LESS everyone is going to get. Find someone that can run production is your only hope to recover anything for creditors.
$1 Gh/s is what AM is selling them there might be a floor you want... but every week you delay the floor will be dropping out from under you. All these parties are going to have to get together and FIX this fast or you are all screwed.
See you on Wednesday.
Note the bold. I think VMC has a very solid position in this mess. I would love to see Ken assist in recovering something for these guys. I also don't mind guaranteed business.
$1/GH at chip level just wont cut it. It has to be about $0.50/GH so that by the time it takes 2 weeks for someone to create a PCB (~$0.10/GH) and buy parts/assembly (~$0.30/GH) and includes packaging/shipping costs (~$0.20/GH) you have a device that uses >1w/GH and is $1.10/GH NOT COUNTING ANY PROFIT MARGINS. And if $1.75/GH/W is the fair price right now then it means in two weeks that will be <$/1.50/GH/W
and that is assuming the new asicminer chips dont force a tighter price war than there is already. It also assumes people feel safe using the VMC website, which....well.... the homepage is horrendous.
May 24, 2014, 08:50:23 AM
Here's the video I did on the Gold Rush cards: https://www.youtube.com/watch?v=vr281yTrCVY&feature=youtu.be
I LOL'd at the "wife tidying up" comment. Great video, Vince.
May 24, 2014, 08:43:51 AM
Here is the audio from the hearing yesterday:
https://dl.dropboxusercontent.com/u/7804267/hashfast%20hearing%20federal%20bankruptcy%205.23.2014.mp3
Edit: I highly recommend following the IceDrill thread as well as the HF thread in Hardware. Came across this very astute comment:
Note the bold. I think VMC has a very solid position in this mess. I would love to see Ken assist in recovering something for these guys. I also don't mind guaranteed business.
https://dl.dropboxusercontent.com/u/7804267/hashfast%20hearing%20federal%20bankruptcy%205.23.2014.mp3
Edit: I highly recommend following the IceDrill thread as well as the HF thread in Hardware. Came across this very astute comment:
Having listened to the recording it seems to look like a move to a voluntary Chapter 11.
It looks like the judge has set that there will be 'protections' put in place until then and the people seeking relief will get relief. Very positive for the creditors and debtor I think.
40,000 chips in hand at HF from the records.
The $ per Gh/s worth less each day on the HF chips. The sharks are circling and it doesn't matter no one is going to pay top dollar now for anything given the competition. You won't get a lot for these without a board, and a team that can build them. You have competition and the longer sales take the LESS everyone is going to get. Find someone that can run production is your only hope to recover anything for creditors.
$1 Gh/s is what AM is selling them there might be a floor you want... but every week you delay the floor will be dropping out from under you. All these parties are going to have to get together and FIX this fast or you are all screwed.
See you on Wednesday.
It looks like the judge has set that there will be 'protections' put in place until then and the people seeking relief will get relief. Very positive for the creditors and debtor I think.
40,000 chips in hand at HF from the records.
The $ per Gh/s worth less each day on the HF chips. The sharks are circling and it doesn't matter no one is going to pay top dollar now for anything given the competition. You won't get a lot for these without a board, and a team that can build them. You have competition and the longer sales take the LESS everyone is going to get. Find someone that can run production is your only hope to recover anything for creditors.
$1 Gh/s is what AM is selling them there might be a floor you want... but every week you delay the floor will be dropping out from under you. All these parties are going to have to get together and FIX this fast or you are all screwed.
See you on Wednesday.
Note the bold. I think VMC has a very solid position in this mess. I would love to see Ken assist in recovering something for these guys. I also don't mind guaranteed business.
May 24, 2014, 05:13:40 AM
Thanks for the video Vince. Good work.
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