Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 108. (Read 629899 times)

Can you add to that list of questions -

Why don't you just give all our mining gear that is sat idle to Bargraphics guy who can host them immediately all you have to do is ship them?

#3 on Eligius, cool   

Hi Ken,

This is the second Q&A which has now brought SECTION 2 into play where shareholders who were not fully satisfied with last weeks responses are looking for clarity or more information on certain points.  If you chose to avoid any of the issues mentioned in SECTION 2 they will appear next week in SECTION 3 where you'll be asked to give your reasons for not being forthcoming with your answers.

I'm sure you understand the idea of this format is that the more difficult questions get tackled one way or another which allows us to move forward and perhaps even lay some of them to rest.  

Also, please release a weekly update, however brief, along with your responses.

Many thanks for finding the time to do this,

ASKen


SECTION 1 - THIS WEEK'S QUESTIONS
Here are the shareholder's questions.  Some questions are copy & pastes, others have been edited by ASKen.

(i)   Are colored coins still on the radar?
(ii)   I still think Ken should, once money allows, attempt to build a PH/s datacentre. If we can gain 1% or 2% of the network come several months when the price soars past $1,000 again we will be very well off.  I wonder if Ken is better suited to hiring out an actual datacentre that is ready to go? Where we just have to install the miners and all cooling is taken care of.  Also Ken, are we going to keep profits from the hardware in USD or BTC?
(iii)   Ken previously said in regards to getting the reports, "We have hired an accounting firm to get these done. ", and then later, "we are getting an accountant to working on our books, now that tax season is over.", then in the most recent update today, "Which do you want Sales or Report, working on getting us a CPA and getting the taxes done.  Can't keep Customer Service Reps due to all the threats and bad language."
This seems to imply that he doesn't have anyone else working on the report and he's doing it himself or that his accounting firm has been tasked with customer service.  One of these statements can't be true. Either he hired someone to do it or he hasn't.
The question in short:
What happened to the accounting firm you hired to create the financial reports?
(iv)   We now have 135 units of  Gold Rush 750Gh/s and 163 units of Prospector 512Gh/s kept idle and waiting for sale.  We aren't utilizing 180Th/s to make us $$$ either by mining or selling the mining cards.  We are losing mining revenue at 10BTC/day or 300BTC/month with these cards
Could you just clear up the site to remove all UNNECESSARY products and just place these 2 featured products on the front page...?
Otherwise the cards won't be sold before it becomes a piece of crap metal
(v)   Why has the website still not been updated? You said it was a top priority more than 10 days ago and still nothing. It is a 4-6 hour job to re-do that site not a 10 day job.
Why has the extra hash power not been added to the DC yet? You said once the AC was fixed (which you have since said it has been) it would just be a case of flicking the on switch as everything was set up already?
Do you have any comment on the equipment that is just sat idle depreciating in value by the day?


SECTION 2 - QUESTIONS FROM PREVIOUS WEEK WHICH REQUIRE FURTHER ATTENTION
In order to ensure all shareholder's questions are given full answers, this section will be used to follow up on those questions that shareholders require further attention from Ken.  

(i)    How much money was refunded by eASIC?
(ii)    Please provide shareholders a date you are working to where you will have hired an accountant and released a financial report.
(iii)   What date do you expect to pay dividends?  
(iv)   Will the dividends be paid weekly thereafter?  
(v)    What is your timeframe for having paid all outstanding pre-order customer refunds?
(vi)   Why can't the website be brought up to date and at the same time focus on the business?  
(vii)   When will the website be brought up to date?
(viii)   Have we entered into a contractual relationship with a fab and a semiconductor company?
(ix)    When can we expect to have our own chips in hand?
(x)    When can we expect the current data centre to reach it's limit of 120-150TH?
(xi)   Are you able to share details which would explain your estimate of a possible profit of up to $2,500,000 from your 'other plans'?
(xii)   When you were asked to share your updated operational plan you answered, "The plan is the same, mine and sell.", however you also mentioned that the Data Centre was nearing it's limit and you would now be moving away from mining to focus on sales.  Given that the website is out of date, products are mis-priced and very difficult to navigate it's difficult to believe that sales are indeed the focus.  As it appears that mining and sales are not the focus can you please say a few words to clear this up?  


SECTION 3 - OUTSTANDING QUESTIONS FROM SECTION 2
If any questions make it into this section it will be clear that Ken has reasons for withholding information from shareholders.  Here he will be asked to give those reasons without having to reveal sensitive information.

No content this week

My guess for the connected dots:

Hashfast have discussed changing their battle plan, in the form of mass-producing chips only and let other companies handle the boards and end-users.

Ken bought the chips from Hashfast and perhaps plans on continuing the trend with future chips.  Become the middle-tier and sell direct to customers.

Does this make sense or am i completely off the mark?  I haven't kept up on Hashfast news for a couple of weeks at least, but if their company is in the same position, this is a possibility.

PS: 100+ TH now.

So a short while ago (not even an hour) you were up to connecting the dots and clarifying the situation for everyone here who does not have this knack for insight like you do.


But now you don't. Apparently we are too lazy to connect these dots?

Is it because I forgot to let you pick a color? I like green. (The color of the money Ken is losing every day, and by association, us too). But feel free to pick a color yourself.

I would love for this thread to read like an AsicMiner thread. They ask questions, they shut up and wait for an answer. They accept the answer because it elaborates enough to satisfy the question asked and then they ask more questions, shut up and wait again. - It's the reason I don't post there. I have no need to, I have all the information I need for my confidence in FC and AC. AcTM, I do not.  

I believe I have asked you twice already. Can you please clarify for us. I am kindly asking to take you up on your offer. I mean no disrespect but this is money, no emotions.

From reading your post, I can only assume that you are talking out of your ass to either.

A. Buy time for Ken.

B. Take blame off of Ken.

C. Cover up Ken's incompetence.

After reaching this point I can only assume that you (and maybe even Vince, but I refuse to point fingers without actually talking to him directly like I am with you now) are working for Ken under some guise of payment or other valuable reason.

Now I have held my tongue and bided my time while we did not have shares, I have accepted that we failed with the eAsic 28nm chip, I have accepted that Ken bought hashrate to confuse us. I have accepted that Ken has blatantly lied three times about a Financial Report. I have accepted all of this, so I say this with the most appreciation possible for the situation we are in and with the appreciation that you know I am not one to come on here and just whine and cry and throw my finger in Ken's face anytime I hear something I do not want to.

But I can not possibly see why we are not converting the hardware we are not using, into the money that we can use to clear up our debt. Now if you know why this is. Then you should come out and say it. Or we can only assume that you are outright lying to me now and have no idea. What does this mean?

This means that no shareholder currently has a clue what the CEO of the company we have a stake in is doing, and by this we can only assume from previous experience that it is NOT GOOD

A precedent has been set by Ken, when he doesn't let us in on the secret, it's bad.

He is currently not letting us in on the secret.

Help Ken help us. Let us in on the secret.

Not enough positive spin!   

tsk-tsk 

OMG why WAS this deleted?



We all want to know this!!!!

Shareholders must be told this information, this is proof that Ken is hiding the truth!!!

I honestly have no idea what you are talking about. I've been hearing riddles like this for 8 months now.

Some dot equals this and then that will make sense, all while my investment declined 99%.

This is my personal opinion on the matter: (these are the dots I see)

. ActiveMining hired eASIC, discovered it was a bad idea and got a small refund.
. They sought a new source for eASIC.
. They found Peoples ASIC and bought them.
. Peoples ASIC and ActiveMining now decide Hashfast is a solution.
. Hashfast soon to go bankrupt.
. We have a few boards laying around and hopefully several thousand bitcoin. The bitcoin gets refunded to the investors and we make some cash back.

Trust me, if I knew there weren't shareholders out there that could make sense, or take away something useful from my posts then I wouldn't even bother.

I am certainly not doing this for the doom and gloom brigade but  for the many shareholders who want a bit of balanace brought to this thread.  

I am absolutely dumbfounded by Jo and dts's reactions.  Can they really be that clueless?  Oh my god.  

I mean come on guys,  make a bloody effort to at least try and identify the dots.

People 'connected the dots' back in November when Ken stated 'We have shipped our first product.'

The rallying cry was, 'Of course it is miners! Read between the lines!'

What was the product, again? Slide-rails!?

You can understand people's apprehension with these vague statements, and rightly so.

@Zumzero - I also welcome you connecting the dots. Feel free to spell it out.

Yes please, join the dots. Be very specific. I grow tired of Ken's guessing games and making assumptions out of 1 sentence responses from Ken. I would very much like for you to assist me with this.

I still have yet to see a dot for instance. I really can not see where ActM could fit in with the expansion of the mining industry if it isn't.

A. Selling mining hardware (Which he is neglecting at this point by not cleaning up the website and doing some decent Marketing/PR of the product).

B. Mining with mining hardware (Which he is also neglecting at this point by not getting another DC up and running or even PMing Bargraphics).

I think you think that there is going to be some spectacular chip coming out from ActM. I wholeheartedly (With every fiber of my existence on this planet) disagree. There is no evidence of this, not a single drop. Not a dot. I have looked, but I can not find one except for more 21 Question avoidances from Ken.

Spoon & Asic alone are about to completely destroy the difficulty of mining in the next Month or Two. And I mean that what we are mining with will be worthless very very very very very soon. Very soon. So what exactly is Ken doing to fight this? So far I see nothing. He has products On hand. He needs to get these out of the door before they are worthless. He has gotten to the finish line, yet he refuses to cross it.

Let me make this absolutely clear. Ken does not need us to succeed. He needs us to succeed the way you picture him to succeed.

But there are many other ways to succeed. How about disappearing. I must say the scammer of Labcoin definitely succeeded, he made more money on this forum than pretty much any one else in the such a short amount of time. I must say his work to profit ratio was probably higher than Warren Buffets.

I look forward to you connecting the dots.

Just tell me what you think instead of making up silly riddles.

Yes, I'd be delighted to.  Go back and read my exchange with bitlind from six days ago or so.  Vist our website to learn about ActiveMinings revenue streams.  Have a think about the expansion of the mining industry and where ActM could fit in.  Think about where HASFAST are.  Then read Kens post again.  Read between the lines.  

There are the dots now do I get to chose which colour pen to use if you need me to join them.for you?

These conspiracies are bullshit.  Ken needs us to succeed if he is going to.

He doesnt give in but keeps driving forward and thinks outside the box.

A communicator heis not, but he can still make this a big success.

Exactly, Ken has an obligation. A legal duty to act in the best interest of the company. Clearly he is not doing that from the actions we have seen.

If Ken had some sort of plan in the pipeline. He needs to come on here and say "I have a plan in the Pipeline that deals with x, y and z."

(And here is the tricky part). He needs to come on here and say this BEFORE (yes before) he dedicates company time and resources to it. You don't just throw money at a wall for months and then come and tell your shareholders "I've thrown money at a wall for months."

No, you come on here and say "I plan to throw money at a wall for months." before you actually go throw money at a wall for months. Otherwise no one has a clue what the CEO is doing and for all intents and purposes it looks as though the CEO is feigning incompetence for some illegal and immoral reason.

Ken I have repeatedly informed you on the bare minimum you had to do to gain shareholder confidence. I will do it once more.

1. Simply come on here and tell us why you have no (or little) desire to update the website and improve marketing of our only product.

2. Simply come on here and tell us what your plan is that is more important than the website and the only profitable product.

It's like we got out of the quicksand only for you to decide to stick your foot back in it. I can not even comprehend why and the fact that Vince and Zum believe they can worries me even more.

custom chip - failed
custom DC - scarcely a success (should have been over 170GH already, but instead the only news is that its due to a single ac problem that was solved days ago)
hardware sales - $1999 for 500GH or $899 for 750GH  (seriously, whats up with this? I think minerpart is right)
http://virtualminingcorp.com/ - an absurd failure (the front page advertises a 64GH miner for $2099, and talks about a custom easic chip)

there is no meaning behind words, only actions. and kens actions are as questionable as ever.

Unfortunately I have not gained mastery of this skill like you and Vince have. How about you enlighten us since our supreme overlord Ken refuses too. I feel like I'm reading shitty scriptures from a Chinese bible knockoff.

Keep it together guys and dont let your emotions affect your judgements.  Its all there for you to join the dots. You should all know how to read the meaning behind Kens words by now.  If the DC plan isnt working and the hardware sales arent going stella then lets hope Ken & Co can get creative and find other ways to make us successful.  Lets keep the pressure up on the website, get your questions into ASKen otherwise they won't get asked and put the conspiracies on the backburner.  One year in and this company is still going.  Its is having limited success but is well placed within the industry to do very well if Ken gets his way. Encouragement rather than aggressive attacks on character and business skills is how best to serve and protect your own invesments.  Do it for the grandchildren.

Ken's Priorities:
1:
2: vauge forum posting
3: MSD discussion
4: improving DC hashrate to add the additional 100TH that should have been online already.
5: removing non-existent products from front page of website
6: shareholders

so ken; please tell everybody what is 'more important' than hardware deployment and the website

What if Ken were to distribute the remaining available cards to the shareholders in proportion to the amount of shares that they have. We would then cover the costs of operation and would not need a datacenter. We would all have to point our cards at the ACTM address. That way we would not be wasting these resources. I don't know how it could be verified that each person is doing as they agreed but there could be some way.

Almost like a shareholder distributed DC.