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Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 265. (Read 630051 times)

hero member
Activity: 658
Merit: 500
decentralize EVERYTHING...
did we lose the eASIC "MILLION DOLLAR" NRE?

We are expecting to recover most of the eASIC NRE.

Am i understand that correctly that you already paid 1 million USD for 28nm to eASIC and now this goes to waste because you want to use a different engineering company?
If so what is so important that its worth that price?

If eASIC is 5-10 times as expensive as the other choice then yes it would make sense to forego the eASIC NRE cost and go with another company. I assume Ken wanted to go with eASIC but they simply were not competitive with their 28nm Full-Custom pricing and likely made Ken go with certain Fabs/Packages at a premium.

I'm happy that we got away from eASIC for a Full-Custom as their only purpose was the Nextreme quick to market niche that was passed up already.

Hopefully Ken can get back the majority of the NRE.

The only reason I was ever drawn to and took this company seriously was the eASIC deal, anything other than that now is a copout.

like I've said before: if this really happens I'll be as thrilled as you guys… but alas, my hopes are nowhere near as high as they were last June no! August… oh wait! October, or was it! December... bahhh who cares anymore. (just wish I could right this off on my taxes)
hero member
Activity: 518
Merit: 500
Every man is guilty of all the good he did not do.
did we lose the eASIC "MILLION DOLLAR" NRE?

We are expecting to recover most of the eASIC NRE.

Am i understand that correctly that you already paid 1 million USD for 28nm to eASIC and now this goes to waste because you want to use a different engineering company?
If so what is so important that its worth that price?

If eASIC is 5-10 times as expensive as the other choice then yes it would make sense to forego the eASIC NRE cost and go with another company. I assume Ken wanted to go with eASIC but they simply were not competitive with their 28nm Full-Custom pricing and likely made Ken go with certain Fabs/Packages at a premium.

I'm happy that we got away from eASIC for a Full-Custom as their only purpose was the Nextreme quick to market niche that was passed up already.

Hopefully Ken can get back the majority of the NRE.
legendary
Activity: 2674
Merit: 1083
Legendary Escrow Service - Tip Jar in Profile
Recover most sounds to me like Ken plans to make this loss back from future profits. Might be im damaged of Ken's past use of rhethorics so that i read the worst in it.

So you think he means that eASIC is paying the costs back? I wonder why they should. And "most" is a very flexible term which in the worst case might mean nearly half of the funds are lost.

Oh well... maybe im really too cautious... but then... its Ken... oh... its a rhyme... must have something...  Tongue
sr. member
Activity: 280
Merit: 250
IIIIII====II====IIIIII
We are expecting to recover most of the eASIC NRE.

I can't see how that could be made any clearer - but I'll try: we should get most of the money back.
hero member
Activity: 532
Merit: 500
https://karatcoin.co
did we lose the eASIC "MILLION DOLLAR" NRE?

We are expecting to recover most of the eASIC NRE.

Am i understand that correctly that you already paid 1 million USD for 28nm to eASIC and now this goes to waste because you want to use a different engineering company?
If so what is so important that its worth that price?

How could you come to the conclusion that "this [NRE] goes to waste" when he says what you quoted above?

Perplexing.
legendary
Activity: 2674
Merit: 1083
Legendary Escrow Service - Tip Jar in Profile
did we lose the eASIC "MILLION DOLLAR" NRE?

We are expecting to recover most of the eASIC NRE.

Am i understand that correctly that you already paid 1 million USD for 28nm to eASIC and now this goes to waste because you want to use a different engineering company?
If so what is so important that its worth that price?
sr. member
Activity: 280
Merit: 250
IIIIII====II====IIIIII
In addition to that, all pre-orders paid for in FIAT have been banked in FIAT so we will have no problems like the Hashfast debacle.
hero member
Activity: 532
Merit: 500
https://karatcoin.co
We have processed refunds this week and mailed out checks.  With the volume of refunds being processed, we are running behind.

Do you anticipate liquidity problems from this?

Bargraphics swered this in his report from his visit to VMC:


Quote
Q. Refunds
A. They have received refunds and have been giving out refunds as they are requested. They are still very good financially and have no concerns about mass refunds.
sr. member
Activity: 330
Merit: 250
We have processed refunds this week and mailed out checks.  With the volume of refunds being processed, we are running behind.

Do you anticipate liquidity problems from this?
legendary
Activity: 1274
Merit: 1004

28nm chips* won't be available until about end of July at the earliest more than likely. A completed miner would likely come a month after receiving the chips.

55nm will be available by the end of April with Chips in hand around the middle of April most likely.
That would be more in line with my expectation. 28nm customers should likely expect to receive their products early September if all goes well and there aren't any large problems that force several redesigns.

@Ken: For the 55nm chips, are there any plans to open source the board and firmware for the design you will be commissioning? The pricing you have for chips is completely nonviable right now, but if it gets down closer to $1/GH/s it might be viable to someone to make boards based on them as long as the development process is quick and cheap.
hero member
Activity: 518
Merit: 500
Every man is guilty of all the good he did not do.
BTW - Why are you estimating starting hashing at the start of June, even Ken's prediction was that tapeout would be 8 weeks after a vendor is chosen (so late April) with chips in Q3.

It's just an estimate, the beginning of June is a full 14 weeks away and I don't think that is an unreasonable date. Remember Ken made the prediction about Q3 before choosing the vendor so I am assuming that was a rough estimate on his part as not all vendors will offer the same time to delivery of product. The beginning of Q3 is 18 weeks away and the end of Q3 is 26 weeks away so feel free to do an analysis based on those dates. At the moment we just don't know what the vendor is quoting Ken for a timeline.


Ken has made predicted dates ever since last March and none of the target dates have been hit.  i think it would be safer to assume that we use the latest of the dates as the expected ones.
Even if the deadlines are met, hashing on 28nm at the start of June would be unbelievable. That would put tapeout at April 16th, and would leave less than 7 weeks to:
1. Get the wafers started.
2. Finish the wafers.
3. Get the wafers sawn and packaged.
4. Get the chips tested and the boards brought up.
5. Start volume production
6. Assemble finished miners.

That's not a 7 week process.

28nm chips* won't be available until about end of July at the earliest more than likely. A completed miner would likely come a month after receiving the chips.

55nm miners will be available by the end of April with Chips in hand around the middle of April most likely.
legendary
Activity: 1274
Merit: 1004
BTW - Why are you estimating starting hashing at the start of June, even Ken's prediction was that tapeout would be 8 weeks after a vendor is chosen (so late April) with chips in Q3.

It's just an estimate, the beginning of June is a full 14 weeks away and I don't think that is an unreasonable date. Remember Ken made the prediction about Q3 before choosing the vendor so I am assuming that was a rough estimate on his part as not all vendors will offer the same time to delivery of product. The beginning of Q3 is 18 weeks away and the end of Q3 is 26 weeks away so feel free to do an analysis based on those dates. At the moment we just don't know what the vendor is quoting Ken for a timeline.


Ken has made predicted dates ever since last March and none of the target dates have been hit.  i think it would be safer to assume that we use the latest of the dates as the expected ones.
Even if the deadlines are met, hashing on 28nm at the start of June would be unbelievable. That would put tapeout at April 16th, and would leave less than 7 weeks to:
1. Get the wafers started.
2. Finish the wafers.
3. Get the wafers sawn and packaged.
4. Get the chips tested and the boards brought up.
5. Start volume production
6. Assemble finished miners.

That's not a 7 week process.
hero member
Activity: 630
Merit: 500
BTW - Why are you estimating starting hashing at the start of June, even Ken's prediction was that tapeout would be 8 weeks after a vendor is chosen (so late April) with chips in Q3.

It's just an estimate, the beginning of June is a full 14 weeks away and I don't think that is an unreasonable date. Remember Ken made the prediction about Q3 before choosing the vendor so I am assuming that was a rough estimate on his part as not all vendors will offer the same time to delivery of product. The beginning of Q3 is 18 weeks away and the end of Q3 is 26 weeks away so feel free to do an analysis based on those dates. At the moment we just don't know what the vendor is quoting Ken for a timeline.


Ken has made predicted dates ever since last March and none of the target dates have been hit.  i think it would be safer to assume that we use the latest of the dates as the expected ones.
newbie
Activity: 27
Merit: 0
No trading-->Not So Good

Weekly PR now in response to pressure from Share Holders--> Yes Good!

Team of Engineers hired--> Yes Good!

Real plan for 55 nm chips--> Yes Good!

Real Plans for 28 nm chips--> Yes Good!

Being investigated by Missouri Securitires Division--> No big deal, they are dealing with something new. After they investigate, they will move on to something else.
 
Several technologically knowledgeable shareholders in frequent communication with Ken--> Yes Very Good!

Someone else commented on why someone would buy a miner that would not reach ROI.
Actually, at $1500 for 432 GH, even a couple of months out, it will reach ROI. At that price it is still competitive with what other companies are offering. ActM is primarily a mining company, so if not a single miner is sold, and all ActM's production is directed to just go online to mine for the company, ActM will make lots of money for its shareholders.

For everything to be Yes Good! Ken merely has to hold to his promises to get this out by Q2 2014.
It is not Q2 yet, and everything seems to be on schedule.

104 wafers. That's good, can anyone work out how many chips that will be in total.

No trading and being investigated by the Missouri Securities Division - not so good.
sr. member
Activity: 476
Merit: 250
Reposting a comment without the giant spammy text. The concern of customers receiving refunds is legitimate.

This was already posted in the unmoderated thread, but I think it's relevant so I'll re-post it here.
VMC's rating was demoted from B to E, because of refunds being ignored and no products on the horizon.
I can't blame them on the "no product on the horizon", but refunds being ignored can't be good for business.

Ken, can you address this?


We have processed refunds this week and mailed out checks.  With the volume of refunds being processed, we are running behind.
member
Activity: 70
Merit: 10
Reposting a comment without the giant spammy text. The concern of customers receiving refunds is legitimate.

This was already posted in the unmoderated thread, but I think it's relevant so I'll re-post it here.
VMC's rating was demoted from B to E, because of refunds being ignored and no products on the horizon.
I can't blame them on the "no product on the horizon", but refunds being ignored can't be good for business.

Ken, can you address this?

sr. member
Activity: 280
Merit: 250
IIIIII====II====IIIIII
This...I think [is] relevant so I'll re-post it here.

Hi stenkross, thanks for mentioning this. Yes we should take note of this sort of thing. Although it may well scare away pre-order clients once we have the hardware ready to ship there will be no shortage of customers. I have posted on Doggies thread hopefully he will provide an explanation.


Hi Doggie,

I admire your work here it is potentially a good resource. But as an investor in the parent company of VMC I am interested as to where you get this information from:

'VMC set         B. Demoted to E, refunds are being refused [ignored] and no products on the horizon. Potentially a scam. Promotion to D if refunds begin to be resolved.'


I would like to point out that according to the CEO of VMC currently there are two chips in production, one a full-custom 55nm has been taped out and is being fabbed by UMC for bulk reel sale and for miners. These 55nm chips have in the past week been listed for pre-order on the VMC website where full specs have also been stated:
http://virtualminingcorp.com/shop1/index.php?id_product=35&controller=product

The other chip in production is a 28nm full-custom and has been given over to a vendor with tape-out expected in 8 weeks.  The chip will be used in a PCI card, it will be 'air cooled and use a double slot.  The estimate speed of the new card will be 432 GH/s and will be listed at $1499.00.'.

I could understand you saying that VMC product has been delayed but to say there is 'none on the horizon' seems factually incorrect to me.

As to the refunds being ignored I have no information on that, can you say how many people have reported that to you and out of that number how many have shown you evidence of their order? I only ask because the company is plagued by Trolls some of who have previously lied about having orders, having machines, having refunds refused etc.

Regards,
minerpart



sr. member
Activity: 280
Merit: 250
IIIIII====II====IIIIII
BTW - Why are you estimating starting hashing at the start of June, even Ken's prediction was that tapeout would be 8 weeks after a vendor is chosen (so late April) with chips in Q3.

It's just an estimate, the beginning of June is a full 14 weeks away and I don't think that is an unreasonable date. Remember Ken made the prediction about Q3 before choosing the vendor so I am assuming that was a rough estimate on his part as not all vendors will offer the same time to delivery of product. The beginning of Q3 is 18 weeks away and the end of Q3 is 26 weeks away so feel free to do an analysis based on those dates. At the moment we just don't know what the vendor is quoting Ken for a timeline.


member
Activity: 106
Merit: 10
Our project manager and engineers have worked to get a chip that can be air cooled, this will work in our expansion cases.  The project manager with our engineers has managed to reduce the cost of the expansion cases to about 25% of what the cost was.  This will be changed on our website soon.

Ken,

Can your card be used in any computer similar to BFLs? Or will it only work with a VMC Base Unit or Expansion Unit? I assume this is all software; but curious your plans.

Shao
sr. member
Activity: 350
Merit: 250
Ken, can you please address the issue of getting us our shares? Please hurry up and get on this. We have been waiting way too long. I want my shares in my possession. Thanks.
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