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Topic: [ActiveMining] Official Shareholder Discussion Thread [Moderated] - page 90. (Read 629899 times)

member
Activity: 83
Merit: 10
VMC, you have 3.44BTC of mine for 3 x boards as per PM thread - I was promised shipment and tracking last Tuesday I've heard nothing, tried various forms of communications - please check your PM's / emails and provide an update please.
legendary
Activity: 1050
Merit: 1000
obviously ken is not interested in selling hardware, i think the website might be just a front to cover his real intentions.
hero member
Activity: 980
Merit: 503
I just was talking to someone who wants to buy a few miners and I asked them have they considered VMC? This was their response.
Quote
I was looking at the Gold Rush, but idk about the company. They don't answer the phone and their shopping cart doesn't work. I'v been so disappointed because I'd really like to get it.
Ken?
Why not tell them the truth? PepperMining will sell them a better board based on the same chip and provide excellent support. Hell, I will sell them one personally! Friends don't let friends do things like order from VMC.
The VMC miners are $250 bucks cheeper, in-stock, and 50-100Gh/s faster.  
https://peppermining.com/shop/the-habanero/
legendary
Activity: 1904
Merit: 1007
For the shares to be properly valued the DC should have been at >250TH already with clearly laid-out plans to expand to 1PH by the end of 2014.

Ken is certainly going to have a tough time paying back investors 25,000 BTC (or 0.0025 per share) when BTC is $3000+ and he's only running 100TH. 100 TH per month was the plan until Ken realized that he overlooked the AC limits in our datacentre (remember what i said a few pages back about attention to detail)

he overlooked the AC by a long shot though. 170TH was planned and only 100TH could be delivered and late. That means that the space they are using has only ~half of the needed cooling....

This DC needs to grow faster than the network to succeed, which means adding about 50%/month.  At this point I don't think ken is interested or able to do that

I still don't understand why people STILL have faith in ken after everything that happened. This is just one of ken's lies and there were plenty. You still have absolutely no numbers regarding the eASIC deal, still nothing about the own chip design etc. Do shareholders even know how much money did ken spent for himself during the last year?

Is this thread not being moderated for now?
member
Activity: 92
Merit: 10
I just was talking to someone who wants to buy a few miners and I asked them have they considered VMC? This was their response.
Quote
I was looking at the Gold Rush, but idk about the company. They don't answer the phone and their shopping cart doesn't work. I'v been so disappointed because I'd really like to get it.
Ken?
Why not tell them the truth? PepperMining will sell them a better board based on the same chip and provide excellent support. Hell, I will sell them one personally! Friends don't let friends do things like order from VMC.
hero member
Activity: 980
Merit: 503
I just was talking to someone who wants to buy a few miners and I asked them have they considered VMC? This was their response.
Quote
I was looking at the Gold Rush, but idk about the company. They don't answer the phone and their shopping cart doesn't work. I'v been so disappointed because I'd really like to get it.
Ken?
hero member
Activity: 843
Merit: 1001
Let's say that the eAsic deal was $1,000,000 and one bitcoin cost $100 back then.

This would mean that Ken payed out 10,000 bitcoins at the time.  So immediately we can account for 50% of the 20,000.  The partial refund would have been in fiat after the massive jump in price so those 10,000 btc never made it back into the wallet.   Didn't someone say the 4000 went out then back in?  If so that means very quickly we have accounted for 14,000 of the 20,000 bitcoins.

For people to talk about 20,000 at today's exchange rate of $650 is ludicrous unless anyone wants to make the point that simply holding all coins may have been a wiser move in hindsight.

I'm not sure about anyone else but I'm really looking forward to hearing some good news in the near future if ActM can win big order contracts.

I predict we'll be trading at 0.003+ within the month.  Wink

you are dreaming! i am happy with 0.001.
member
Activity: 84
Merit: 10
hello

has shares verified yet?

i sended email on 20th may
legendary
Activity: 2128
Merit: 1005
ASIC Wannabe
For the shares to be properly valued the DC should have been at >250TH already with clearly laid-out plans to expand to 1PH by the end of 2014.

Ken is certainly going to have a tough time paying back investors 25,000 BTC (or 0.0025 per share) when BTC is $3000+ and he's only running 100TH. 100 TH per month was the plan until Ken realized that he overlooked the AC limits in our datacentre (remember what i said a few pages back about attention to detail)

he overlooked the AC by a long shot though. 170TH was planned and only 100TH could be delivered and late. That means that the space they are using has only ~half of the needed cooling....

This DC needs to grow faster than the network to succeed, which means adding about 50%/month.  At this point I don't think ken is interested or able to do that
legendary
Activity: 1218
Merit: 1000
For the shares to be properly valued the DC should have been at >250TH already with clearly laid-out plans to expand to 1PH by the end of 2014.

Ken is certainly going to have a tough time paying back investors 25,000 BTC (or 0.0025 per share) when BTC is $3000+ and he's only running 100TH. 100 TH per month was the plan until he realized that he overlooked the AC limits in our datacentre (remember what i said a few pages back about attention to detail)

edit: Ken please pay attention to the little things, because they matter very much. Nobody can take you seriously with an outdated website and the DC may very well become a waste of space because of a few math errors.
legendary
Activity: 2128
Merit: 1005
ASIC Wannabe
Zum what is your evaluation based on?

I'm anticipating good news.  Deals being struck.  Contracts being awarded.  Dividends being paid out.  A significant rise in the price of bitcoin.  More good news.  More dividends being paid and a rush to buy up the undervalued shares.

I really don't see it taking much to turn things around and because time is of the essence it won't be long before we get to hear from the horses mouth.

The current price is a reflection of low shareholder confidence and the general mood of this thread and not business potential ActM currently has.  We're a fickle lot and won't need much convincing to change our tunes and with that our fortunes.

ha.

ken has not done anything to dissapate my fears recently. sure, he built a datacenter with a ~$150,000 worth of hardware. That would be impressive for the regular person doing this wiuth a few investors, but for ACTM this is pathetically small. For the shares to be properly valued the DC should have been at >250TH already with clearly laid-out plans to expand to 1PH by the end of 2014.
sr. member
Activity: 378
Merit: 250
Lol I'll remember this post for you Zum.
sr. member
Activity: 280
Merit: 250
IIIIII====II====IIIIII
perhaps my greatest achievement won't be financial reward but having been a part of the early community. ...

So your greatest achievement will be being 'zumzero'? Like wow, talk about aiming low.
Keep on pumping actm shares with groundless speculation.


HEY YOU DRAMATICALLY ABANDONED THE THREAD LESS THAN 24HRS AGO AND SAID YOU WEREN'T GOING TO POST AGAIN? DIDN'T YOU???
 Roll Eyes


zumzero:

'DTS you are a pathetic drama queen'
'DTS you are talking baseless nonsense - pure speculation'
 Roll Eyes
hero member
Activity: 602
Merit: 500
myBitcoin.Garden
Zum what is your evaluation based on?

I'm anticipating good news.  Deals being struck.  Contracts being awarded.  Dividends being paid out.  A significant rise in the price of bitcoin.  More good news.  More dividends being paid and a rush to buy up the undervalued shares.

I really don't see it taking much to turn things around and because time is of the essence it won't be long before we get to hear from the horses mouth.

The current price is a reflection of low shareholder confidence and the general mood of this thread and not business potential ActM currently has.  We're a fickle lot and won't need much convincing to change our tunes and with that our fortunes.
sr. member
Activity: 517
Merit: 250
I predict we'll be trading at 0.003+ within the month.  Wink

U'r funny zum!
Cool Wink Cheesy

Although the company is wacky.  .003 is still way below the .004 people were paying for shares a year ago, and we had nothing but hope then, now at least we have a farm, and boards.   So when cooler heads prevail, things will sort out......or they won't!!!
legendary
Activity: 1218
Merit: 1000
Zum what is your evaluation based on?
hero member
Activity: 602
Merit: 500
myBitcoin.Garden
Oh yea of little faith.

Mark my words and someone please post my quote within a month when shares are trading at 0.003+ because I'm not the 'I told you so' kind of guy.
newbie
Activity: 38
Merit: 0
I predict we'll be trading at 0.003+ within the month.  Wink

U'r funny zum!
Cool Wink Cheesy
sr. member
Activity: 259
Merit: 250
First of all we have never had 20,000 BTC.

Then educate us, how much was raised?

Next, we just build a DC with ~100 TH, that wasn't free.

Will we be getting a dividend from this DC at some point?

We also have  boards in stock and those were not free either.

If we have boards, why not take Bargraphics up on his friends offer to host the entire lot?

Ken, what is going on?Huh?

We are working on deals to sell the boards to larger customers, which requires less support.

you failed to answer the two most important questions, and only managed to say "we are doing poorly at selling to individuals, so we will focus on selling in bulk for much cheaper" which basically just means fewer profits per board.

this is getting ridiculous ken.
1) WHEN WILL THERE BE A FINANCIAL REPORT?
2) WHAT IS THE TIMEFRAME FOR FIXING THE WEBSITE?
3) WHAT IS THE TIMEFRAME ON EXPANDING THE DATACENTER?  (we need a date and accurate hashrate, not like the 170Th there should have been already but cant seem to go past 60% of that)

I think these are three easy questions that can be answered accurately in only a few words. no vaugeties, just a promised date and result. The shareholders will be lining up to press securities complaints and charges very soon if not.

See the problem is ken won't answer to any of those important questions I wish I was wrong but, I said it before here I say it again, to me looks like ken logs into his account time to time finds a post that is to his taste and easy to answer and he replies to that and then he is gone leaving out all the juicy and important questions out. Also his weekly so called updates creates more confusion and question than it answers so that's useless too.

To put it bluntly, ken is actively ignoring the important question or tries to delay them by actively answering in vague manner until people forget or something around those lines. The man doesn't want to be straight with his investors, he already collected the money from us so I bet he laughs at us all from time to time while he pays himself his monthly salary from our money, it is a pure joke he calls business.

To you give an example, his top priority of fixing the website for weeks hasn't had any progress at all, if that's his top priority taking this amount of time then just imagine how would take for him to produce that custom made 28nm chips  Roll Eyes  .  Sadly it looks like without outside pressure ken will spend every last satoshi until one day he comes here drop a line that sorry guys that's it it's over thanks for the money though it was a fun experiment . I guess this process has already begun with now almost nothing left in our main address.

btw ken how is your other business is running, I bet it's making a nice fat fiat return, anyone ever wonders if ken ever used/borrowed money from our fund to run his side business? Roll Eyes   see ken without a proper financials you are digging a bigger hole for yourself, how can you legally defuse such allegation without giving your investors a proof of nothing doing so for which you require/must give an audited financial report nothing more nothing less. what's happening with that eASIC refund you were talking about it several months ago? did you pocket that as well? give us some proof of what happened.
sr. member
Activity: 347
Merit: 250
Wow! Nearly 20k Bitcoin gone,

At today's prices that is about 11 million dollars.

Ken, could you please share where that money has gone?




First of all we have never had 20,000 BTC.

Next, we just build a DC with ~100 TH, that wasn't free.

We also have  boards in stock and those were not free either.


What you are seeing here, Ken, is idle speculation turned investigatory due to having no financial report for EoY 2013 or Q1 2014. If you don't release financial reports you are going to see a lot of these inquiries and accompanying scam theories. This is because people are accustom to legitimate companies release financial reports.

You need to release a financial report immediately and future reports must be consistently released.

Even if Ken just released a financial report that shows how much was raised and what happened to it?

We spent some on Avalons but got refunded, we spent about 7,000 bitcoins worth on eASIC and got a partial refund. The amount raised was between 10,000 and <20,000

So partial refund was what? let us say 100 bitcoin. Avalon was refunded.

So we should have around 3,000 - 13,000 bitcoin.

So then we give 150,000 shares to Peoples ASIC and no bitcoin. OK.

So how much has gone into hashfast?

Between 3,000 and 13,0000 bitcoin?

What about salary? I can't imagine many salaries being paid as no work has been done, nothing really. The website is still utter crap.

So the known addresses show almost no bitcoin left (except for the mining address)

What does that mean? Ken's salary is around 2,000 - 12,000 bitcoin? (Assuming 1,000 was used for hashfast, and even that would be too much as 100TH will never ever ever mine it back ever again. I am 100% certain that if you paid 1,000 bitcoin for this farm, well you might as well just send the bitcoin to the genesis block instead, it's worthless)

If you tell me that more than 1,000 bitcoin was spent on this farm, well that's a scam right there, why burn investors money for the sake of it?

How dare you?

Time for some clarification Ken!

The amount raised was < 16K BTC for sure just looking at the address we know that. Lets bring that 20K figure back to what we know could be the highest.
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