Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 243. (Read 630051 times)
March 07, 2014, 10:13:28 PM
I will be paying close attention over the next 14 days in that case ken
March 07, 2014, 09:59:34 PM
Ken, we have been waiting on chips since the end of last year. You have kept us largely in the dark as our competition has been ramping up. Remember that you started ACTM so that you could provide a quicker solution to bitcoin mining? Is this going to happen? Or is all of the money going to drain out of this company before it does? Ken, get your act together. Get help where you need help to get this project completed promptly, or liquidate the public shares. Get people involved that have a passion for bitcoin mining and pay them with the company's half of the shares. I know that there have been a lot of mishaps and things out of your control. That's partly how the bitcoin world is right now, everything moves so fast. Either you can handle the task at hand in this environment and provide a return to the investors or you cannot. Do you have what it takes? If not, throw in the towel. If so, get us something to show for all this time and money.
Well written, so do I have what it takes you ask, well ask again in about 14 days.
March 07, 2014, 07:48:44 PM
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2. How many bitcoins were on MtGox and why where they there to begin with?
VMC's 453 BTC from Pre-Orders. No Active Mining BTC was lost.
So you lost one quarter of the financials of the shareholders? (If true that we now have 1500BTC) Why did you write first that nothing was lost?
Why were there coins on GOx Ken?
We were using MtGox to process our bitcoin transactions.
What? You write you use armory so you know what wallets are for. Why do you have to use a website to transfer bitcoins? I would have awaited that at least company owners know that you shouldnt let coins lay around at websites except its really needed. I dont see that the coins had to be at mtgox.
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Remember we gave you lots of money and in return have nothing but empty promises. I am sure you understand.
Remember Active Mining has paid out or is going to pay out $ 462,115.81 in dividends. So, Active Mining has gave a lot of money back.
And? Bitcoin is at $622 today. That means 742.95BTC. Most probably they are part of the 1500BTC so half of the 1500 are already divs. Spreading that over 10million shares means 0.000074295BTC per share. I dont see what you mean with "ActM has gave a lot of money back".
March 07, 2014, 07:06:00 PM
Jo,
The reason why you are wrong is that the only thing that commits and binds Ken to pay out .0025 per share is his own word, and thus far, we have seen that Ken will do whatever he wants.
There is absolutely nothing which forces Ken to agree to any of the things he said.
The reason why you are wrong is that the only thing that commits and binds Ken to pay out .0025 per share is his own word, and thus far, we have seen that Ken will do whatever he wants.
There is absolutely nothing which forces Ken to agree to any of the things he said.
I was just explaining how your math was wrong. You said he had 5,000,000 of the public 10,000,000. So he somehow would get $4xx,xxx if he liquidated the company. He won't because he doesn't have 5,000,00 of the 10,000,000.
So actually you are wrong. I know what he committed to, I know that only his word binds it, I am saying that he won't get $4xx,xxx for owning half the shares. In fact he owns over 60% of the shares, but less than 3% of the public shares. So... he either takes home most of the money, or almost none of it. You see how I'm not wrong now?
March 07, 2014, 06:42:37 PM
tempestb, I'm finding this very frustrating. Are you serious that you didn't know that Ken has said he has a plan to retrieve almost all of the NRE? Are you also serious that you didn't know it was ~$1,000,000? All this stuff is common knowledge mate which is why I can't work out if you are trolling or what?
I think tempestb is more saying that it doesnt really matter what Ken says at this point. It's about what he does. He has been saying a lot of thing over the past year and most of the important stuff (chips, chips, and more chips, and most recently shares, oh and chips) hasnt materialized. so whether Ken says that he has a plan to retrieve almost all of the NRE doesnt really matter to most of the shareholders. because it is yet another "promise" or statement of expectation that we have very little trust in. we would much rather have proof of anything than more Wednesday updates that are just words. we've had just words for too long.
March 07, 2014, 06:10:02 PM
tempestb, I'm finding this very frustrating. Are you serious that you didn't know that Ken has said he has a plan to retrieve almost all of the NRE? Are you also serious that you didn't know it was ~$1,000,000? All this stuff is common knowledge mate which is why I can't work out if you are trolling or what?
March 07, 2014, 04:51:12 PM
will ken ever be able to somewhat state how or why eAsic failed to develop the chip for months?
March 07, 2014, 04:36:42 PM
Oh the irony of Ken spending our future dividends on legal fees to fight off disgruntled shareholders while he scales up the business with 28nm full fat miners.
Ken has said that he is in the process of retrieving almost all of the NRE so be sure that it does exist.
Your stab in the dark quote of 5,000,000 ($?) is one that won't get you Ken's business because he has clearly found a more competitive price elsewhere. Anyway, is it not much cheaper today than it was 9 months ago?
I am not going to reply to the rest of the comments in your fud post but will say there is light at the end of the Blocktrain tunnel and we are now simply waiting for some great news. Think I'll get my F5 button replaced in anticipation.
ZZ, with respect, you have no proof of anything you are saying. If my post is FUD yours is blind optimism. What we KNOW is that he has about 1400 bitcoins. We don't know anything else, other than you cannot fund a 28nm chip with that money. Also, the only person I saw who said the NRE was 1 million was you. Can you point me to where Ken said he was getting back 1 million? I don't recall ever reading him say that.
Ken and his family get paid right? Something pays to keep the lights on. Who pays the lawyer? That's all coming from somewhere, and my guess is it's coming out of the bitcoin wallet everyone is worried about becoming slips of paper in fire safes.
March 07, 2014, 03:35:27 PM
Serious question... If Ken has 1,400 coins and eventually gets back the 1 million NRE from eASIC (That I'm not sure even exists) what can Ken do with this money? He can't make a 28nm chip with it. That costs like 5 million. So what is going to do to make money from it? Other than lose money paying legal fees and fighting any lawsuits from losing that 650 in preorder money on MtGox, I can't think of anything.
Oh the irony of Ken spending our future dividends on legal fees to fight off disgruntled shareholders while he scales up the business with 28nm full fat miners.
Ken has said that he is in the process of retrieving almost all of the NRE so be sure that it does exist.
Your stab in the dark quote of 5,000,000 ($?) is one that won't get you Ken's business because he has clearly found a more competitive price elsewhere. Anyway, is it not much cheaper today than it was 9 months ago?
I am not going to reply to the rest of the comments in your fud post but will say there is light at the end of the Blocktrain tunnel and we are now simply waiting for some great news. Think I'll get my F5 button replaced in anticipation.
March 07, 2014, 03:00:28 PM
Ken, we have been waiting on chips since the end of last year. You have kept us largely in the dark as our competition has been ramping up. Remember that you started ACTM so that you could provide a quicker solution to bitcoin mining? Is this going to happen? Or is all of the money going to drain out of this company before it does? Ken, get your act together. Get help where you need help to get this project completed promptly, or liquidate the public shares. Get people involved that have a passion for bitcoin mining and pay them with the company's half of the shares. I know that there have been a lot of mishaps and things out of your control. That's partly how the bitcoin world is right now, everything moves so fast. Either you can handle the task at hand in this environment and provide a return to the investors or you cannot. Do you have what it takes? If not, throw in the towel. If so, get us something to show for all this time and money.
March 07, 2014, 02:53:57 PM
Serious question... If Ken has 1,400 coins and eventually gets back the 1 million NRE from eASIC (That I'm not sure even exists) what can Ken do with this money? He can't make a 28nm chip with it. That costs like 5 million. So what is going to do to make money from it? Other than lose money paying legal fees and fighting any lawsuits from losing that 650 in preorder money on MtGox, I can't think of anything.
March 07, 2014, 02:43:21 PM
Jo,
The reason why you are wrong is that the only thing that commits and binds Ken to pay out .0025 per share is his own word, and thus far, we have seen that Ken will do whatever he wants.
There is absolutely nothing which forces Ken to agree to any of the things he said.
[snip]
The reason why you are wrong is that the only thing that commits and binds Ken to pay out .0025 per share is his own word, and thus far, we have seen that Ken will do whatever he wants.
There is absolutely nothing which forces Ken to agree to any of the things he said.
[snip]
Barring liquidation, this is the same reason why it is important for Ken to provide proof of the following:
[snip]
Once Ken complies and gives you what you want, what proof gets asked for next?
Proof of the 55nm tape out?
Proof of pre-orders?
Proof of the 28nm project?
Proof of having the shareholder list?
Proof of the pudding?
[snip]
March 07, 2014, 11:42:16 AM
Desmond, Ken has 15,xxx,xxx shares. The first 15,000,000 are worth nothing until the other 10,000,000 of the 25,000,000 shares are paid .0025 BTC, if Ken liquidates he only gets money from the xxx,xxx shares he has. He doesn't have half of the 10,000,000 public shares.
March 07, 2014, 11:24:42 AM
crypto-trade is Back!!!!!!
March 07, 2014, 07:44:52 AM
From crypto-trade.com: Trading will reopen today at 3 PM ( server time )
March 07, 2014, 07:41:42 AM
was just about to say what MrTeal said. Cold storage doesn't mean it's not accessible, just means it's not directly connected to the network.
Not just that, also your private key is never entered online or put into a device that goes online even when you send a transaction. If your private key ever goes online the wallet is no longer cold.
March 07, 2014, 01:28:36 AM
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1. Setup a site for us to input our timestamps, public address, email etc. so we can verify our shares.
I need to check with my lawyer before doing this.
Quote
3. Brief us on the status of the MSD investigation and the trading platform(s) with regard to their effect on the timeframe for us having complete access to our shares. Do this regularly.
Had a meeting with our lawyer yesterday, does not sound like it will cause VMC or AMC to much trouble.
the No.1 Q-- my god, how did you verify and list ukyo, and let it go traded.
No.3 Q-- vmc+amc = ActM which is virtual company right?
is the problem of whole this boils down to shares you givin as are virtual Actm? while the shares does not directly represent AMC/VMC, in real life?
i noticed on CT its AMC, why not make it ActM, becuase its confusing with the first day ipo when company was only AMC
March 07, 2014, 01:20:57 AM
Then what's the point of the cold storage if you can send from it on a computer that is connected to the internet. That defeats one of the points of a true cold storage. So he is actually using a hot wallet with a little extra protection including this SHA256 safeguard he created?
'You don't actually send from the cold wallet. You generate the unsigned transaction on the connected wallet, and then bridge the air gap somehow to get the transaction signed, and then return to the online wallet to broadcast it. was just about to say what MrTeal said. Cold storage doesn't mean it's not accessible, just means it's not directly connected to the network.
March 06, 2014, 10:34:10 PM
Then what's the point of the cold storage if you can send from it on a computer that is connected to the internet. That defeats one of the points of a true cold storage. So he is actually using a hot wallet with a little extra protection including this SHA256 safeguard he created?
'You don't actually send from the cold wallet. You generate the unsigned transaction on the connected wallet, and then bridge the air gap somehow to get the transaction signed, and then return to the online wallet to broadcast it. March 06, 2014, 10:23:45 PM
Jo,
Sorry to press the point as it's a bit academic but again, someone accessing a cold wallet on a given day tells you nothing whatsoever about how long it takes or difficult the process has been made to access that wallet.
To access this wallet Ken may have to travel to a bank in another city, he may also have to give notice of his visit. He may then have to visit a second bank to retrieve the second portion of a split private key. I can't see how you can make an inference that access is easy just because access has been made recently.
edit- OK maybe this is something to do with you not knowing that you can send from a cold wallet when you use Armory .
Sorry to press the point as it's a bit academic but again, someone accessing a cold wallet on a given day tells you nothing whatsoever about how long it takes or difficult the process has been made to access that wallet.
To access this wallet Ken may have to travel to a bank in another city, he may also have to give notice of his visit. He may then have to visit a second bank to retrieve the second portion of a split private key. I can't see how you can make an inference that access is easy just because access has been made recently.
edit- OK maybe this is something to do with you not knowing that you can send from a cold wallet when you use Armory .
Then what's the point of the cold storage if you can send from it on a computer that is connected to the internet. That defeats one of the points of a true cold storage. So he is actually using a hot wallet with a little extra protection including this SHA256 safeguard he created?
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