Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 270. (Read 630051 times)

That's more like it. So, this 45nm proposal was openly cancelled in favour of the 28nm only project. Sadly that project failed for whatever reason. The remains of that failed project has become a full-custom 28nm chip.

In addition to the 28nm full custom, there is now also a full-custom 55nm in late-stage development. Hope that helps.

Oh sorry, it was 45 nm not 55 nm.

kslaughter dated March 26, 2013:
"The team has been involved with Bitcoins since 2009. AMC has purchased and will operate Application Specific Integrated Circuit (ASIC) Bitcoin mining machines and is developing an ASIC chip and PCB that it will license to VMC for use in their Fast-Hash series of Bitcoin Mining Machines. AMC is developing ASIC chips on the 45nm and soon the 28nm process. AMC's ASIC 45nm chips will have fast speeds of 6 to 9 GH/s with low power usage. The 28nm chips are estimated to have speeds of 9 to 15 GH/s per chip which will be in VMC's Fast-Hash-XXT series of machines which will have even more speed and even lower power usage. VMC may purchase ASIC chips from different vendors if available."


https://bitcointalksearch.org/topic/amc-the-official-active-mining-cooperative-discussion-158806

Are you sure about that? I think that might be wrong considering that he only announced the 55nm project on the 21st January 2014 (3weeks ago) and previous to that there had been no mention of 55nm.




https://bitcointalksearch.org/topic/m.3220847


Springfield, MO and Santa Jose, CA – January 21, 2014 – Active Mining Corporation (Belize) (AMC) a bitcoin Mining and Hardware Manufacture, and  People's ASIC a stealth Silicon Valley startup founded by two veteran engineers is proud to announce today the tape-out of their 55 nm UMC Bitcoin Mining ASIC.  The ASIC features SHA256 optimizations according to a scientific paper by Dadda et al.

Simultaneously, AMC has acquired the Intellectual Property (Verilog code, test bench, GDS-II data, etc. for the 55nm UMC Bitcoin Mining ASIC.  Delivery of chips is expected in Q2/2014.  Also, AMC will use the same design team and code which successfully taped out the 55 nm on AMC's eASIC's 28 nm.  EASIC's 28 nm development has been upgraded to a full custom 28 nm.'

Too bad I missed the pre-orders last summer for the 28nm miners.

Now I can pre-order 55nm though!

I'm not trying to troll too bad, it's just super easy. The pre-order situation is ironic to me. I really hope that this company turns into something, because it is nothing now. I would have made a lot more investing in my own cex.io contract. And let's face it, while I don't believe Ken is a scam, he has definitely said some deceiving things. Ken, just get us some frickin chips! You said we'd have 55nm in fall last year, you led us to believe that we'd have 28nm by early this year by the latest, you talked of intellihash but it sounds like it is not at all complete, you said releasing shares are #1 priority. Damn, if they were your #1 priority then I'd hate to see how the chips and this 'game-changer' technology are coming along.

As unhelpful to our cause as getting the gov involved will be, I can understand why some scared little 'government-save-us' fellow may have done it.

Edit: As minerpart corrected me, 55nm chips were only announced three weeks ago. I was thinking of the 45nm chips that were announced March 26, 2013

If we still have $1mil NRE (which Ken suggests we have) and 1400 BTC from the avalon refund (which IIRC we have) - then the company currently holds 0.00034 BTC/share (only counting the 10mil) - And there is value in the 55nm IP, and there is value in the eASIC deal, and there is value in the pre-orders (even if some need to be refunded)

So is 0.0005/share reasonable? No, it's unreasonably low.

Great so because you are rich and don't need any money back you are willing to give up your shares in an attempt to put someone in prison. I really appreciate all the hard work you are putting in to bring down a ActM. Thanks!!! Its not like you invested in a really risky startup with a risky currency. No that would be crazy talk.

Just an FYI

I asked Ken about this via PM. I haven't received a reply to my latest message.

Well it looks like the 1Mill of NRE paid for a 28nm eASIC project that has failed. End of, it failed. Ken has restructured that as a full custom chip and is getting quotes from different suppliers for the tape out and production of that 28nm custom chip. It seems eASIC are able to offer the best price out of either responsibility to a previous customer or because some the the cost of this custom chip they will off-set againt the previous projects payment (1Mill). I think that's right.

No documentation on the (55nm) tape out - well there should be some for of agreement or contract between ACtM and UMC. I can't see how there would be no paperwork.

I hope you are right.
Personally, I don't really care if we are trading or not tbh.
I can understand that some people do, they might need the money or just want to walk away and never look back. I completely understand both reasons for wanting to sell.

If we will be able to trade soon, the price will probably be too low for me to sell anyway, so either way I'll just wait for future div's, if any... I'll take my chances.

Ken, as we know, isn't the best communicator in the world.  We've all had many months of analysing his language and studying him to try and work him out.  He's a complicated beast I'll say that much, and I mean that in the kindest way possible.  I just don't read deception in what he's saying.  I don't see a scam whatsoever.  I see someone who has taken on an enormous task and has spread himself too thinly.  I am hoping that he's actually quite organised underneath it all, and is skilled at prioritising things, and I suspect he probably is.  I think there is still hope and within two months we'll all know one way or the other.  I'm not convinced anyone will be trading until there are ActM miners hashing away, although Ken is full of surprises so we'll just have to wait and see.

please discuss:

6800 chips was the expected yield rate per wafer.

What with you quoting prices 75% below what people were buying at? You don't say!

Again DTS there is no point having your shares back if no-one is going to buy them. You have repeatedly talked the company down so what 'idiot' would want to buy these shares now?

The one thing that will increase the value of your shares (we are trading now) is hard evidence from Ken about his UMC order. I suggest you focus on getting that rather than endlessly slagging this company down. Your company.

Selling the 100 bitcoin worth of shares at 0.0005 was what he had to gain up until a few days ago when he sold them all. Releasing our shares would have caused a massive crash.

Whilst I agree and it is incredibly frustrating, you have to wonder what Ken has to gain by blocking share trading. It's not like Ken will lose money if and when we are able to trade shares. I am inclined to believe share trading is low priority because Ken is simply overwhelmed by everything else that needs to be done.

None of this means I am anything other than extremely disappointed by the lack of progress and the failure or refusal to disclose important information to investors. A lot of money was poured into this project and frankly I am not at all surprised someone decided to act.

We currently stand to endure several months of this at a minimum -- and that's assuming things go really, really well.

Just to make my position clear, I am 100% against involving the authorities and think that is the stupidest thing possible.

Bitcoin is the wild west and if this company fails it's just that, another startup that failed.

I made the mistake of investing far more than the 10 - 20% that should have been the limit. I am not so pissed that we are failing, but pissed at the trade block that has been in place for months now.

Ken's blocking of trading is a first, as far as I know ActiveMining is the only security where the investors have been barred from getting out. Even in the vally you can shift your shares off to someone else unless you're an employee.


I knew I might be getting into a gamble that fell flat on its face. But I had no idea a blockade would be put in place fixing my shares in stone and preventing any ability to day trade, sell off, etc...

I totally understand people's frustrations and anger.  We've had our shares tied up for a long time and have seen the value erode.  I have experienced anger myself and voiced that last week.  

My point is, it is makes no sense to involve the authorities, if that results in us losing everything, when we all threw our money into a high risk investment in the first place in an industry which existed on the fringes of the law.  People weren't calling Bitcoin the Wild West for nothing.  We all knew what we were getting involved in and that's where great promise lay.  

The irony is when Ken clears his name it may be too late as the damage will have been done.  But some of you aren't willing to accept that your cries of foul play may in fact be wrong.

I suppose time will tell and I just hope to God this turns out alright.

Edit:  Also DTS, could you try not to quote people when you are the first to respond.  Keeps things tidy. Thanks.

Again you miss why most of us are angry. Ken is blocking our ability to trade shares, he won't even allow transfers using the forum. He has stated to me that we are not allowed to trade until CT and now that is not happening for certain.

So it's a block.

We are being blocked, even in a startup the owners can move their ownership to another investor, we can't even do that.

From Wiki:

"Cutting off the nose to spite the face" is an expression used to describe a needlessly self-destructive over-reaction to a problem: "Don't cut off your nose to spite your face" is a warning against acting out of pique, or against pursuing revenge in a way that would damage oneself more than the object of one's anger.[1]




It's beyond me why anyone would act this way when they would have known, before they bought their first shares, that they were getting involved in startup company which was high risk and existed in an unregulated environment.  Pursuing this selfish revenge may likely destroy every shareholders remaining chance to make money from this investment.  When Ken is finally vindicated then the damage this may have caused might irrevocably harm the business and it may never recover.  If people were concerned about the lack of information during the NDA period, how are they going to feel when the weekly updates suddenly stop for legal reasons and we are left entirely in the dark indefinitely?

Our one saving grace is that Bitcoin mining is recognised as a legitimate business in the United States and that the government is aware of the dangers of stifling innovation.  Add to that, the fact that if Volcanic Eruptor is involved then his well documented feud and death threats to Ken S., are likely to send him to prison.  I would welcome the opportunity to travel to the US to help with authorities enquiries.  Let's hope that Ken can show these people he's actually as clean as a whistle, then a lot of the fud that's flying around will simply go away.

In other matters, it's great to see these dates and figures for the 55nm chips.  Looks like were about 8 weeks away from some exciting developments.  

It also feels good that this thread seems to be working and the relentless attacks from trolls have been thwarted! Hehe. Good work guys.