Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 224. (Read 629902 times)
March 21, 2014, 09:23:14 AM
With gox "finding" 1/4 of their "missing" bitcoins, does that mean we should be theoretically due 1/4 of our lost coins?
March 21, 2014, 08:57:33 AM
As you know we have two corporation here AMC and VMC, VMC lost some coins it had in MtGox from Pre-Orders, this caused VMC to have a minor cash crunch for refunds the last few weeks. AMC has enough coins to loan VMC to provide for refunds; however, I prefer to have VMC pay the refunds from its profits on running AMC mining farm, building machines for AMC, and from VMC sales of miners. VMC is still in a cash positive state and will start refunding Pre-Orders next week again. AMC/VMC has enough cash to cover over 6X the amount of our current Pre-Orders. Also, VMC is getting ready to start selling in stock bitcoin mining cards.
This is actually good news!
March 21, 2014, 08:18:02 AM
I was unaware that mtgox was a payment processor, just an exchange. I'm searching and I can't find anything about them being a payment processor either.
I have search high and low too and found nothing.
Ken - please answer this question. By not answering this question you are lending credence to the viewpoint that there were no coins on Gox - it is only a convenient excuse to hide poor company finances.
By the way - how are our financial accounts coming along? I seem to remember them being promised a long time ago....
I personally remember seeing a MtGox payment processing widget for bitcoin transactions - I haven't bothered to try to find reference to it, but I do have some recollection of it.
I can't seem to find it - please do try and link it. I think its pretty important
Here is a discussion on these forums regarding the Mt.Gox merchant service: https://bitcointalksearch.org/topic/mt-gox-as-a-payment-processor-439506
The link is dead now but it was at www.mtgox.com/merchant
March 21, 2014, 06:55:04 AM
I was unaware that mtgox was a payment processor, just an exchange. I'm searching and I can't find anything about them being a payment processor either.
I have search high and low too and found nothing.
Ken - please answer this question. By not answering this question you are lending credence to the viewpoint that there were no coins on Gox - it is only a convenient excuse to hide poor company finances.
By the way - how are our financial accounts coming along? I seem to remember them being promised a long time ago....
I personally remember seeing a MtGox payment processing widget for bitcoin transactions - I haven't bothered to try to find reference to it, but I do have some recollection of it.
I can't seem to find it - please do try and link it. I think its pretty important
March 21, 2014, 06:54:11 AM
I was unaware that mtgox was a payment processor, just an exchange. I'm searching and I can't find anything about them being a payment processor either.
I have search high and low too and found nothing.
Ken - please answer this question. By not answering this question you are lending credence to the viewpoint that there were no coins on Gox - it is only a convenient excuse to hide poor company finances.
By the way - how are our financial accounts coming along? I seem to remember them being promised a long time ago....
I personally remember seeing a MtGox payment processing widget for bitcoin transactions - I haven't bothered to try to find reference to it, but I do have some recollection of it.
March 21, 2014, 06:47:41 AM
I was unaware that mtgox was a payment processor, just an exchange. I'm searching and I can't find anything about them being a payment processor either.
I have search high and low too and found nothing.
Ken - please answer this question. By not answering this question you are lending credence to the viewpoint that there were no coins on Gox - it is only a convenient excuse to hide poor company finances.
By the way - how are our financial accounts coming along? I seem to remember them being promised a long time ago....
March 21, 2014, 04:28:14 AM
,and i want to know where is the chip come from??
Probably hash-fast
March 21, 2014, 03:34:12 AM
SOLO MINING:
For solo mining to be an option (it is never beneficial over pool mining) you need to be able to mine 30 blocks per fortnight consistently.
200TH/s is half way to that minimum requirement.
The reason for this is that there is an opportunity cost in each fortnightly period due to the increasing difficulty. In order for your average mined blocks per period to be statistically relevant you need to be mining slightly over 2 blocks/day
Under this threshold the risk is that you will be unlucky during fortnights where difficulty is lower, which massively impacts the overall ROI.
But at no point is there any benefit in solo mining other than the libertarian ideals of decentralisation - this however is a non-issue until it becomes an issue, at which point the option to solo-mine or join a smaller pool remains.
ActM would need 2PH before solo mining would be even vaguely justified, and then only if one pool gets too big.
POOL MINING:
Eligius uses a CPPSRB system which, over time, provides the highest and most consistent return on hashrate.
Eligius charges no pool fees - the pool is run on donations (of which there seem to be plenty)
Eligius provides public stats which would be good for ActM
Eligius is my recommended pool. Showing new hardware hashing consistently is also best done on eligius.
For solo mining to be an option (it is never beneficial over pool mining) you need to be able to mine 30 blocks per fortnight consistently.
200TH/s is half way to that minimum requirement.
The reason for this is that there is an opportunity cost in each fortnightly period due to the increasing difficulty. In order for your average mined blocks per period to be statistically relevant you need to be mining slightly over 2 blocks/day
Under this threshold the risk is that you will be unlucky during fortnights where difficulty is lower, which massively impacts the overall ROI.
But at no point is there any benefit in solo mining other than the libertarian ideals of decentralisation - this however is a non-issue until it becomes an issue, at which point the option to solo-mine or join a smaller pool remains.
ActM would need 2PH before solo mining would be even vaguely justified, and then only if one pool gets too big.
POOL MINING:
Eligius uses a CPPSRB system which, over time, provides the highest and most consistent return on hashrate.
Eligius charges no pool fees - the pool is run on donations (of which there seem to be plenty)
Eligius provides public stats which would be good for ActM
Eligius is my recommended pool. Showing new hardware hashing consistently is also best done on eligius.
March 21, 2014, 03:21:12 AM
March 21, 2014, 03:16:04 AM
March 21, 2014, 02:59:44 AM
Who cares? The MtGox money is gone. You're just trying to catch him in a lie. Waste of time.
Ken. Do you have the Bitfunder Tender List? Because if you don't, fess up and admit it so we can all set fire to a pile of ActiveMining shares in our minds. And if you do have it, post it, so we can see that you have it and so someone else has a copy besides just you.
Burnside published the full assetlist for all Bitfunders stocks at Bitfunders closures before, here's the Activeminer part from that list.Ken. Do you have the Bitfunder Tender List? Because if you don't, fess up and admit it so we can all set fire to a pile of ActiveMining shares in our minds. And if you do have it, post it, so we can see that you have it and so someone else has a copy besides just you.
Code:
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ActiveMining 200
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ActiveMining 1 1AbyfrvNyoEkyT993aPz3x4zajeXp188Wj
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ActiveMining 650 16jssZJWoG9qboAiHtXXEmH7JyYGN49WHU
ActiveMining 1,200 1CoRevjkbgCRRadoN3faBiDY87vFe1T4Rd
ActiveMining 1,330 1MrcLUmA4D4pkgdoNDD2LufUzsxHLgNCck
ActiveMining 350 1HvEaM62s7hzx6NSahiR8fAZ1yZWXpQwZ6
ActiveMining 30 1CpgnGGHcVLV58N62xdhwdYUzQXzugdBuK
ActiveMining 8 1Bq4fhjBcXcGuXvRHVBv7MB12zb5MWzAfs
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ActiveMining 2 1GsbqGqMhhvPd2hf4fs4KoeZmCzDkk8kQ3
ActiveMining 230 1FL8muz4bvaP2988b1GfUJerAtJS4VoTzY
ActiveMining 640 15mhfrP55utA1xJ9dBywEN1WfQJ7GvZt4r
ActiveMining 77 1PRvh9TnPJsFzuWGcXXbH3gbnJjSdAfRic
ActiveMining 2,200 Balance 1Dxg9ZazutpaNkS3Yu5NwMsBHuHTRPdkn
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ActiveMining 10 1BAPS2p4vac5TLFE9KD6GB7o5wFRpsasfy
ActiveMining 200 1JaPU6kficLkc3DpVqEP1S18SbWyGzkHPk
ActiveMining 60 1N1iaQmuZrUHtA35S4JAscLMPNoEDVtFgT
ActiveMining 75,000 1G9CD1bVJ1E1MrUhC87sxZJ2QZ17uJqzVD
ActiveMining 404 1CoWSdKtvRAzfa3U1J2s1qNq5zXGJmLgPA
ActiveMining 1 14pcMVbxx1Ecg1CKMS6FqhhTJQFZcyAPwq
ActiveMining 72 17oN3VWW5LmkCmBMQnwc6FZM4ezj7ZZWRp
ActiveMining 96 1936Z1V6asgZLEPbUqk6fBaPUYqdU96XjG
ActiveMining 994 18JfE5ez9n7gU5tXNg1zZ9V5yX1ugbqduM
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ActiveMining 66 1ehofT1nakyCu4F9mb1j2CU6NwXgUBmGp
ActiveMining 100 1FALKEDavPSA8phx9rZNYd3N32YdjWgn8A
ActiveMining 68 1z2VB8Aicgc2xUDQBvGdx6ra8XHgX9qrs
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ActiveMining 511 12fLpF3oB5rNJP6B61fTPk2CRasVi3daDm
March 21, 2014, 12:51:16 AM
Eligius is very low or non existant fee yes?
Why would Ken be against this? A constant supply of bitcoin?
Why would Ken be against this? A constant supply of bitcoin?
March 21, 2014, 12:17:38 AM
Soloing makes more sense if you had around 10%
March 20, 2014, 10:01:30 PM
500th only mine 2 block with good luck. i think it is not a good idea to solo mine ,and i want to know where is the chip come from??
March 20, 2014, 09:31:22 PM
Are the chips being used ActM chips?
March 20, 2014, 09:29:22 PM
Quote
How are things coming along with the pre-ordered products?
We are getting ready to start issuing refunds again. We are also using our new 600 GH/s board as we get them in full production to solve our refund problem.
Ouch... we have a refund problem that can be solved with the coins we get from the running boards? Sounds like the funds are pretty much gone already. I didnt think its that bad yet.
As you know we have two corporation here AMC and VMC, VMC lost some coins it had in MtGox from Pre-Orders, this caused VMC to have a minor cash crunch for refunds the last few weeks. AMC has enough coins to loan VMC to provide for refunds; however, I prefer to have VMC pay the refunds from its profits on running AMC mining farm, building machines for AMC, and from VMC sales of miners. VMC is still in a cash positive state and will start refunding Pre-Orders next week again. AMC/VMC has enough cash to cover over 6X the amount of our current Pre-Orders. Also, VMC is getting ready to start selling in stock bitcoin mining cards.
Is this correct? Instead of giving dividends ken will pay refunds?
Dividends come from profits, you don't have profits while you owe customers miners.
March 20, 2014, 09:21:40 PM
Quote
How are things coming along with the pre-ordered products?
We are getting ready to start issuing refunds again. We are also using our new 600 GH/s board as we get them in full production to solve our refund problem.
Ouch... we have a refund problem that can be solved with the coins we get from the running boards? Sounds like the funds are pretty much gone already. I didnt think its that bad yet.
As you know we have two corporation here AMC and VMC, VMC lost some coins it had in MtGox from Pre-Orders, this caused VMC to have a minor cash crunch for refunds the last few weeks. AMC has enough coins to loan VMC to provide for refunds; however, I prefer to have VMC pay the refunds from its profits on running AMC mining farm, building machines for AMC, and from VMC sales of miners. VMC is still in a cash positive state and will start refunding Pre-Orders next week again. AMC/VMC has enough cash to cover over 6X the amount of our current Pre-Orders. Also, VMC is getting ready to start selling in stock bitcoin mining cards.
Is this correct? Instead of giving dividends ken will pay refunds?
March 20, 2014, 09:15:20 PM
We will be converting to Solo Mining with this much hashing.
Please do not solo mine. It simply isn't worth it with the amount of hashrate you will have and even plan to have. Please do everyone a favor and stop mining on BTC Guild and start mining on Eligius.
Also now that you are going to be putting some "decent" hashrate up, you will also be mining alt coins. Please provide the addresses for those as well.
March 20, 2014, 08:54:21 PM
Ken,
For a variety of reasons, not the least of which is statistical, solo mining is a big mistake.
What makes the most sense is to join a pool with the smallest fee, and which is easiest for shareholders to check on mining progress.
We can talk about why belonging to a pool makes more sense, even if you are solo mining a lot of TH.
A major reason why you, Ken should use Eligius is because of transparency. With Eligius, anyone can see clearly how much is being mined. With BTCGuild you have to have an account, log in join the AMC Team.
This is just one more example of how you are stubborn and refuse to take anyone else's advice on anything.
It is a frustrating situation because we all took a risk, and believed in your dream and in exchange for that risk and for sharing in your dream we get vague answers to specific questions and your irritation when we persist in asking direct questions.
We do want to help you and want you to succeed. But, please be forthcoming and honest and clear.
Lorenzo Money
We will be converting to Solo Mining with this much hashing.
Please stop speaking in riddles. So you are implying we will be mining with much more than a few 100th's?
I am sorry you can't understand a simple statement, I will make it clear, with 100 TH to 200 TH of hashing power we will be converting to solo mining over time. I believe that I said in my announcement that we would be adding more THs in the future.
For a variety of reasons, not the least of which is statistical, solo mining is a big mistake.
What makes the most sense is to join a pool with the smallest fee, and which is easiest for shareholders to check on mining progress.
We can talk about why belonging to a pool makes more sense, even if you are solo mining a lot of TH.
A major reason why you, Ken should use Eligius is because of transparency. With Eligius, anyone can see clearly how much is being mined. With BTCGuild you have to have an account, log in join the AMC Team.
This is just one more example of how you are stubborn and refuse to take anyone else's advice on anything.
It is a frustrating situation because we all took a risk, and believed in your dream and in exchange for that risk and for sharing in your dream we get vague answers to specific questions and your irritation when we persist in asking direct questions.
We do want to help you and want you to succeed. But, please be forthcoming and honest and clear.
Lorenzo Money
Vince has a good idea. Eligius does NOT charge a pool fee.
In addition, it is easy for anyone to see how much is actually being mined if you have the mining address.
Eligius is run by Luke-jr and his crew and is reliable.
Given how many terrabytes ActM will be mining, and the fact that the amount paid by the pool fee increases the more you mine, it makes good economic sense to use Eligius Pool instead of BTCGuild.
Ken, please make that change.
Go on Eligius Ken - just use the mining address as the username on cgminer/bfgminer - no need for new accounts - 0% pool fee - NMC co-mined... much better.
In addition, it is easy for anyone to see how much is actually being mined if you have the mining address.
Eligius is run by Luke-jr and his crew and is reliable.
Given how many terrabytes ActM will be mining, and the fact that the amount paid by the pool fee increases the more you mine, it makes good economic sense to use Eligius Pool instead of BTCGuild.
Ken, please make that change.
We are currently running one of our Demo boards on BTCGuild and our total hashing rate:
Team AMC:
211435 926.93 GH/s
Team AMC:
211435 926.93 GH/s
Go on Eligius Ken - just use the mining address as the username on cgminer/bfgminer - no need for new accounts - 0% pool fee - NMC co-mined... much better.
We will be converting to Solo Mining with this much hashing.
Please stop speaking in riddles. So you are implying we will be mining with much more than a few 100th's?
I am sorry you can't understand a simple statement, I will make it clear, with 100 TH to 200 TH of hashing power we will be converting to solo mining over time. I believe that I said in my announcement that we would be adding more THs in the future.
March 20, 2014, 08:47:05 PM
Who cares? The MtGox money is gone. You're just trying to catch him in a lie. Waste of time.
Ken. Do you have the Bitfunder Tender List? Because if you don't, fess up and admit it so we can all set fire to a pile of ActiveMining shares in our minds. And if you do have it, post it, so we can see that you have it and so someone else has a copy besides just you.
Ken. Do you have the Bitfunder Tender List? Because if you don't, fess up and admit it so we can all set fire to a pile of ActiveMining shares in our minds. And if you do have it, post it, so we can see that you have it and so someone else has a copy besides just you.
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