Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 13. (Read 629685 times)

Remember that Ken was running 737GH of avalon equipment since 2013, and virtually zero evidence or profits from this were passed on

Are the meetings public? I'd like to make sure that the meeting will occur and not be continued like the last few have. Does anyone know if the mining farm is still up and running, like is there a link to a real-time hash rate?

Does anyone know if the mining farm is still up and running, like is there a link to a real-time hash rate?

7 days until the hearing. Is anyone here able to attend? See if you can record it, even audio would be cool.

http://www.bizjournals.com/kansascity/news/2014/12/12/bitcoin-miner-butterfly-labs-reopens.html

The trend is our friend......Open that Slaughter house back up and turn those machines back on......turn those machines back on.

Oh brother stop being such a fag. I lost maybe $2k on this joke, chump change. Why don't you go back to bashing people who lost way more... You heartless/useless jackoff.

I did far more than "lift a finger."  I repeatedly tried to warn you and the others back in August 2013.

You chose to Ignore me:

https://bitcointalksearch.org/topic/activemining-the-official-active-mining-discussion-thread-252531

How did that work out for you?   

Ken is going to get away with the BTC because people like knybe refuse to listen to their superiors.

Do you actually have a sense of how things change over time? Everybody having a suspicion they would need a license were getting blown off, told they did not need one, up to about mid 2013. Then we had the first official opinion of it being "money" and it was a light switch, now everyone had to have one.

Everybody having a suspicion they would need a license were getting blown off, told they did not need one, up to about mid 2013.

Then we had the first official opinion of it being "money" and it was a light switch, now everyone had to have one.

It was never impossible to get a Money Transmission license in the US for Crypto Currency.. This statement is simply wrong. It was difficult due to teaching regulators what it was you were trying to do and how that falls into money transmission. To even further this point, they would even tell you if you needed one or not, if there wasn't enough information to go by.

How do I know this? I have a pending Money Transmission license currently and have spent the last 7 months doing research in this field.

You were somehow under the impression that you were buying into a Wall Street blue chip?

Anyone with half a brain knows this went from unregulated/off-radar to grey area to SEC pwns all. At the outset, it was I believe actually impossible to register a security denominated in crypto funds, as it was impossible at the time to get a money transmitters license for exchanges.

Unfortunately while crypto-currency to fiat exchanges have been offered a clear path to compliance as regulations have crystallised or been clarified, securities have not.

So, illegally offering a security, questionable, continuing to operate security and making available to US customers after about October 2013 guilty-ish... but then what was the "moral" thing to do? Forced refunds at that point would have pissed people off also, you can bet that someone would have sued then.

and/or illegally offer a security.

To be quite fair I believe we're rehashing the same argument that's been going on and that sides are picked so this is simply a waste of time. However, here we go!

We're going round and round in circles so everyone stop the discussion so that I can have the last word.  Here it is!

I'm just saying that if Ken's judgement wrt Avalon Chip deal, eAsic deal etc was incompetent and scammy, then retrospectively all subsequently discovered to be bad calls by anyone ever are subject to the same standard.

My POV is that any hardware venture in this space has been a coin flip 50/50 shot at best, even with the best information available at the time, and Ken happened to throw 3 tails in a row.

In your case, you doubled down on one toss, because both Terrahash and AM were reliant on timely delivery of Avalon Chips. Either could have been Steve Jobs or Bill Gates side project and it still wouldn't have come out good.

By that logic, you believing they were "legit" and ordering/investing in them means you were incompetent and scammed yourself?

Come on Flash, you might want to ask Ice for tips on how to twist words. He's got it down to a science.

its january 8th 2015, my mistake.
please do go to MSD, and the hearings. i would love to hear what is going on. there is precious little in here but speculation. although a few users here who lost big will give very interesting interviews, a few are shills. i would avoid zumzero, most of all. he has vouched for ken so strongly, even when everything points to total failure, that many assume he is under the employ of ken, if not a relative, or even ken himself. the whole thing is shady and the truth is in short supply.

Man, after reading this over again it just infuriates me how unqualified Ken ended up being as shown through his actions regardless of how he acted in person.

To be completely honest, I thought of myself as a pretty good judge of character once I met someone. Meeting with Terrahash and Active Mining in person, shaking these guys hands and physically seeing at least what appeared to be a functioning mirage of a business and then still basically being scammed by them really put things in perspective.

What's funny is we're (Well just Zumzero mainly) all arguing if Ken was a scammer or not. This doesn't even matter because the MSD doesn't care about that, he blatantly violated securities law and will be tried/fined on that. If the MSD feels "investors" were mislead (not even fully "scammed) then they would try to seek restitution.

If you wanted to open a civil case against Active Mining and Ken (Who obviously was highly undercapitalized) because you feel you were defrauded then you could do that. I plan on waiting to see how the MSD handles this before doing such. If they release any sort of financials then everyone would be able to weigh the worth of a civil case.

At the end of the day Thomas here is what happened,

Ken single handedly took in hundreds of thousands of dollars if not a few millions depending on BTC Prices
Failed multiple times to produce his own chip through a series of bad judgements and/or incompetence wasting some of that money
Lied about multiple achievements to falsely boost confidence and share price - Examples: Shipping a "Product" implying it was a custom chip, Power Consumption on the People's ASIC Chip
Lost BTC on an exchange that had multiple warnings it was going down (There's no reason to keep BTC on any exchange, just send it to the exchange when you want to cash out)
Extremely poor communication and transparency with his company that "shareholders/investors" paid for
Ken purchased Chips/Board design from a 3rd party (Who was forced into bankruptcy and is being auctioned off today). He also used their assembly line to manufacture "copy cat" boards.
He failed at shipping & customer support - Some people received them quick, most it took months or not at all. Other customers has to provide support for customers.

Shareholders received Bitcoin dust for dividends over the entire lifespan of this company
I believe Ken hired only family to work for him (Wages, not Contractors)

I'm sure others in here can fix or add to the above to make it more complete. Enjoy

so this scumbag, Ken Slaughter, is going to get away with all of it?

I didn't have a ton invested in this but I know some of you had quite a lot tied up in this sham... and no one is gonna lift a finger? or at the very least pay the slaughter scammers a visit?