Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 112. (Read 629899 times)

perhaps if the dividends were to start trickling out to shareholders, this might look like a viable operation… that would lead me (or others) to buy more shares.

Ken if you have been doing customer support can you tell me when you will reissue my cheque refund after failing to sign the original cheque. I sent the cheque back as requested and now you are ignoring all of my messages either through the store or through here. What do I need to go to get a refund that I was promised would take 10 days,  it is now 5 months later and I am still waiting.

If this is the case then the People's ASIC team must truly believe we are onto something if they are sticking around.

Ken has mentioned there was no BTC/USD salary component in the past.

People's ASIC have done good getting things moving and they are behind the ASIC IP but don't you think buying them for 150,000 shares is a little low?

I mean, did we just buy a small part of People's ASIC for $10,000 or the entire company?

I can understand if you sold them a million shares, but only 150k?

I am asking because that must mean something else was on the table right? Perhaps salary?

status?

EDIT - I think i might have an issue with my water cooler(s) so I am ordering an additional (2) Corsair H80i's today.  (worst case I can resell them to customers, but hoping they will do what they need to do for me.)  When i remove all brackets and bolts and whatnot and place either that cooler or even a regular air-based cooler on the chip and make sure it is nice and level i am able to get some more hashing in before it turns off due to chip overheat, so it seems my water cooler is not going down close enough to the chip with the current hardware.  my H80i's should be here tomorrow.

Definitely

I feared this was the case, I assumed Ken had discussed this with you. It appears you two have not been in contact regarding the datacenter offer from Bargraphics.

Even if it cost us 5% - 10% of our profits, is it not worth getting that much power online?

1- I suspect we either have no plans to make that much hardware.
or
2- Hashfast is slowing chip production.
or
3- we are selling boards too fast to put them in our own data centers.

I hope 3 is the reason!

Good post Vince.

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?

(I'll also send this to ASKen too)

While I'm sure the "threats and bad language" is true. This is normal process for any company with customer service reps and not really a viable excuse.
Sounds like a time buying sentence.



As I have said before and numerous people have also implied, I have access to quite a bit of Datacenter space where the teams are knowledgable in setting up gear (This gear specifically in one case). If you truly had 5,000 boards they could go up if you wanted them to.

I've just run some numbers....

It seems we are selling upward of 10 gold rush cards per day at the $849 price point, that is monthly revenue of $254,700 - I actually think we're selling more like 20/day but I haven't really been keeping track particularly well.

Assuming a 30% margin, that is $76,410 monthly profit.

Add this to the monthly mining revenue of $65,000 (lets say -$5000 in DC and power costs, so $60k)

ActM is most likely doing $136,400 profit per month. Or $1.6mil profit/year

This is at current BTC prices.

This is a profit of 317BTC/month or 0.00003172 BTC/share/month (not dividends, since some/lots will/should be reinvested)

Also regarding the hashing vs selling debate:

Assuming a 30% margin on sales, VMC is making $255 profit/sale
The same card mining in the DC might make 1.1BTC in the next month

We have to take into consideration the miners cost about $595 to manufacture, plus about $250 in parts to get them running (Water Coolers and PSU) - total outlay is about $845.

So it will take ActM 65 days approx before the investment in running a miner starts turning a profit. And then only about $150-$200/month

So do we want $255 profit now, with no staff costs, no DC costs, no power costs?
Or do we want $150-$200/month (decreasing fortnightly) in 3-4 months?

I think the only correct answer is that we want a bit of both.

So is Active Mining fucked because the hashrate isn't going up?
Well, no, not if we're selling 10 cards/day.

That said, I would still like to see Ken growing the hash-rate relative to the TNHR. ie. 20%/month but there is a point where growing the farm as opposed to selling miners... is retarded. One month from now, if the BTC price hasn't gone up... mining with our own hardware would be absurd in comparison to selling the stuff.

I think you should PM the askken account. It seems Ken will answer those questions first.

So PM askken and then wait for next week!

Ken,

What are the remaining liabilities? How much in USD do you still have to refund? This is an answer that shouldn't be avoided.

Shao

You said you hired someone to create the report. So that leaves you free to sort out customer service while they do they report

Or do you have your accountant doing customer service too?

The customer service employee bailed because of some angry customers? 

I think that it would help if the next customer service rep frequented these boards. Would go a long way to handling customers concerns.

So i guess we are working on the 28nm chip of our own? Or maybe its just fancy words twisting the truth.

No more than a few hundred TH to go online, not that great. But I guess it now comes second to selling products.
Should get some data centres up in Iceland 

Website does need updated, although Ken is aware.

Maybe run some ads on reddit/bitcointalk etc.

finlof - the h100i comes with two brackets which go over the heatsink - I didn't make it clear in my video but I followed Bargraphics suggestion of using both. The first with only 2 screw holes goes on first, then the one with 4 screw holes goes over the top to create more spacing. Then it's just a matter of looking from the side and slowly adjusting each of the 4 nuts until it's absolutely level. I don't believe it has to be pressed down particularly hard and I've heard this can deform the board making thermal transfer really bad.

Stick with it - it's pretty easy once you figure it out. :-)

So what are the plans for those proprietary chips?

Read my update this week.

The project manager managed to get a partial refund, when the PO said Non-Refundable, Non-Cancelable


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.


We have enough Gold Rush to fulfill our current orders.  We have a production line up and running and tooled with parts.  The project manager has set it up to do a 5,000 board run.


This is hard to do as we are always working on lowering our production cost, early boards are higher and later boards are lower.


That is to be determined from our current mining revenue and current sales, we have a number of sales in the works.


Here is what we are sending to customers:

We are making progress with our mining operation and our sales. We going to use the funds from these to pay refunds as we lost a lot of Pre-Order bitcoins on MtGox. We expect to refund 100% of our customers.

Regards,
Ken
Customer service


~157,000 shares


No, it has not be a high priority, getting our mining farm has been the highest priority.  We are now bring the website up to high priority.


We are working on getting our own chip, this is high priority.


Can't say at this point, lot of thing are happening.


We expect in this datacenter to be at 120TH-150TH, which we think will be the max due to the AC required.


Not at this time, we are working on sales.  We have a good solid income from the mining farm, now we what to get the fast income from sales.


We have learned from a current datacenter the requirements, time, and cost required to put a datacenter together.  We are now going to focus on sales which gives us some explosive income potential.


We know all about HASHFAST, we have a number of plans in the works, some of which could generate up to 2.5 Million in profits


Without the People's ASIC team, there is noway we could be where we are today.


Yes, Google Adwords


The plan is the same, mine and sale


Like, I have said in the past, we have used the same CM to build the boards, we paid the CM, we supplied the parts, we used HF supplied design to build the boards.  We currently have 200 Gold Rush PCB's in stock, another 400 in production, that we have built with a different CM waiting to be assembled.  We have a CM line tooled with parts to do a 5,000 board run as soon as the market demand dictates that we make the run.  We are working with customers that have HF chips in had to use their chips to assemble boards for them.


We believe that we are in a great position with the previous production to make a profit in the near future.  Should we see that the business does not have a chance to be profitable, then yes we would liquidate. 

What happened to Kris? The hired customer support representative?