[ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 258.

knybe

hero member

Activity: 658

Merit: 500

decentralize EVERYTHING...

Quote from: SebastianJu on March 02, 2014, 02:20:09 PM

...
Im starting to feel like one can't trust practically no one in bitcoinland that runs a business. ...

although I try to see the glass as half full most of the time… this glass has been apparently half empty ever since lewiki, Vbs, ffs, et. al. abandoned ship. I only wish I had listened to my instincts, and jumped with them.

funkymunky

sr. member

Activity: 283

Merit: 250

Ken, I am not happy.

How dare we "shareholders" who gave you our trust find out about how our investment is doing (or lack thereof) through a third party such as this news outlet.

That article is such a negative piece and it does not paint a very pretty picture.

Enough is enough now, please come on here and explain to us our current situation and plans.

I have been behind you all the way, but this could well be the straw which broke the camels back!!

Quote

The cancellation, he said, was driven by three factors. First, Active Mining had some bitcoins — now presumed lost — in the exchange (Mt. GOX). Second, the recent decline in the price of Bitcoin meant the company had less buying power. Third, the machines would cost enough to produce that they would only provide a return on investment if the price of Bitcoin was at least $900.

Did I not read on here the other day you respond to somebodies question about this, by saying that "we" had no coins on there, which has now conveniently vanished? Please everyone correct me if I'm wrong on this.

This seems like yet another conveniently timed excuse to be honest.

runam0k

legendary

Activity: 1092

Merit: 1001

Touchdown

Coins left in Gox? Roll Eyes

It's either (a) pure opportunist BS and part of a long game scam or (b) gross mismanagement of the company and its funds. Either way, if I was a big shareholder I'd be flying out there myself to see WTF is going on.

SebastianJu

legendary

Activity: 2674

Merit: 1082

Legendary Escrow Service - Tip Jar in Profile

Oh wow... the shareholders get the news from the press. Right... thats how it should go.

So we now have nothing again? The bitcoinprice killed 55nm because the bitcoins arent worth enough to pay the bills? But instead we will develop 28nm?

This is a mess and i dont await that 55nm or 28nm could make a reasonable profit anymore.

It more and more only looks like an employment-creation measure for the family. They were paid all the time from our IPO funds and we have to hope to get at least a little bit back from our investment. The way it goes i dont see a happy end.

@drawingthesun... when the bitcoin price is higher in some weeks it wont change that we now dont have enough fiat to pay the bills for going through with 55nm.

Im starting to feel like one can't trust practically no one in bitcoinland that runs a business. Only really dumb people or clear scams. The level of incompetence is unbelieveable.

Sahtor

member

Activity: 112

Merit: 10

BTC value shouldn't affect mining plans. All types of companies are coming up with 28nm hardware so only consideration should be getting mining started as fast as possible.

Selling BTC for electricity cost is a separate question for later date.

VinceSamios

sr. member

Activity: 448

Merit: 250

Quote from: drawingthesun on March 02, 2014, 01:58:57 PM

Ken; if the reason the 55nm has been cancelled is because of the chips being unprofitable due to the low Bitcoin price (<$900) then I urge you to reconsider. It's highly likely that the Bitcoin price is >$900 by the time the 55nm is hashing. Remember it's not like we will have the 55nm in our hands within the next few weeks. Most estimates put the 55nm in mid April.

and either way 55nm 1 month ahead of 28nm would still be more profitable.

oh and, we aren't just mining with chips, we need chips to sell too....

drawingthesun

legendary

Activity: 1176

Merit: 1015

Ken; if the reason the 55nm has been cancelled is because of the chips being unprofitable due to the low Bitcoin price (<$900) then I urge you to reconsider. It's highly likely that the Bitcoin price is >$900 by the time the 55nm is hashing. Remember it's not like we will have the 55nm in our hands within the next few weeks. Most estimates put the 55nm in mid April.

drawingthesun

legendary

Activity: 1176

Merit: 1015

I am very disappointed to hear about the cancellation of the 55nm.

Ken, you are making the most terrible decision and if this decision is being made because of information we do not know about, please enlighten us.

The 55nm would have served two purposes:

1) We would create our own mine in which we can start making bitcoins. Most calculations by the investors show this will allow for a little profit, and any profit is good at this point.

2) More importantly it will restore investor and customer confidence in ActiveMining. Once we build our own ASIC device we would then belong to a small and special group of companies that have the title 'ASIC builder'. The trolls would have less to say and we would have real results for our money.

The fact is we have no material to show for the thousands of bitcoin invested into this company, the 55nm would have been our first stepping stone to becoming legit. No matter what you may think, until we have our own ActiveMining built ASIC, we are not and never will be legit.

knybe

hero member

Activity: 658

Merit: 500

decentralize EVERYTHING...

Quote from: zumzero on March 02, 2014, 12:08:02 PM

So the 55nm chips have been cancelled because we have lost company funds that were tied up in mtGox.

Oh my.

Ken's PR person must be working overtime right now, hold on though..

And we wait... 2015?

Maybe we can order up some 16nm chips while we wait.

knybe

hero member

Activity: 658

Merit: 500

decentralize EVERYTHING...

It's so refreshing to see ignored-troll-post zapped before it even hits the the thread.

Honesty trolls, what a waste of your useless child speak.

zumzero

hero member

Activity: 602

Merit: 500

myBitcoin.Garden

So the 55nm chips have been cancelled because we have lost company funds that were tied up in mtGox.

Oh my.

Ken's PR person must be working overtime right now, hold on though..

knybe

hero member

Activity: 658

Merit: 500

decentralize EVERYTHING...

Looks like Ken's getting some local press:

Betting on Bitcoin
Springfield's Kenneth E. Slaughter is caught up in the fast-moving world of digital currency

hazryder

full member

Activity: 208

Merit: 100

Quote from: VinceSamios on February 28, 2014, 06:22:36 PM

Quote from: hazryder on February 28, 2014, 12:48:56 PM

Nice to see everyone's attitudes are becoming more positive, I'm very much looking forward to our developments in the coming months.

We've worked ludicrously hard to nuke the blatant troll... there was only one blatant troll, but such a cancer spreads quickly. Thankfully with this malicious f-iretrucker gone things are much more sensible.

Luckily I quickly became good at spotting the various alter-egos of a few certain members and ignoring/reporting their posts ASAP, it leads to a surprisingly better forum experience

Good to hear you'll be getting our shareholder list soon Ken, if you could publish it in some format so we can all check our shares are present that would be greatly appreciated.

Peace!

JoTheKhan

sr. member

Activity: 378

Merit: 250

Quote from: kslaughter on March 01, 2014, 01:28:12 PM

Quote from: JoTheKhan on February 28, 2014, 01:24:03 PM

Quote from: equipoise on February 28, 2014, 04:20:46 AM

Crypto-trade is up and running in audit mode. As specified on their page during the 2-3 weeks audit "All people can either withdraw their funds or can keep in our site. Trading and API will be disabled during the auditing period. All the withdrawals will be processed manually.". I hope Ken will get the shares list and keep it secured.

Ken please get the asset list ASAP.

I will get it today.

+1 Thank you,

SebastianJu

legendary

Activity: 2674

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Legendary Escrow Service - Tip Jar in Profile

Ken, what did the lawyer say? When will we trade?

lobbes

full member

Activity: 240

Merit: 101

Quote from: kleeck on February 28, 2014, 02:20:36 PM

....

You raise a good question: Ken, when can we expect a full financial report?

Bumping this question, as I am curious myself.

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: Ozymandias on February 28, 2014, 02:17:43 PM

Quote from: hazryder on February 28, 2014, 12:48:56 PM

Nice to see everyone's attitudes are becoming more positive, I'm very much looking forward to our developments in the coming months.

It really is amazing just how much noise was in the other thread and how much cleaner everything is when the trolls are kept under their bridges instead of in our halls.

In a related note, I'm more than happy to offer my services to help moderate this thread if need be.

Ken, considering the funds that we may not recover from the eASIC NRE and the fallen price of bitcoin, are we still in the black (i.e. if all pre-orders demanded refunds, would ActM/VMC be able to cover them all)?

Yes

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: JoTheKhan on February 28, 2014, 01:24:03 PM

Quote from: equipoise on February 28, 2014, 04:20:46 AM

Crypto-trade is up and running in audit mode. As specified on their page during the 2-3 weeks audit "All people can either withdraw their funds or can keep in our site. Trading and API will be disabled during the auditing period. All the withdrawals will be processed manually.". I hope Ken will get the shares list and keep it secured.

Ken please get the asset list ASAP.

I will get it today.

interJ

newbie

Activity: 37

Merit: 0

So I can't quote from a closed thread, but @ Ken, per your January 30th post https://bitcointalksearch.org/topic/m.4850206 : it's march now, how did things go getting us on said February run with UMC? Do we have anything in hand? Can you show us proof?

Flashman

hero member

Activity: 518

Merit: 500

Hodl!

Man, that's a point, hey Ken can you make it so we can print out shares on a piece of paper, so they're like "real" shares, because obviously numbers on a piece of paper are realler than numbers in a computer.

Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 258. (Read 629685 times)