Topic: [ActiveMining] The Official Active Mining Discussion Thread - page 243. (Read 479317 times)
Shareholder Update:
Hello everyone, I wanted to give a quick update to every investor as it pertains to this week’s proceedings.
We had several meetings yesterday, namely the meeting with eASIC which went extremely well. The ground work has been laid and everything is in motion for the NRE as planned down to the smallest of details. I caution everyone that it will take us a couple of weeks to complete the painstaking process of getting all the funds converted and on to eASIC. Please understand for business and legal reasons that we cannot go into any more detail at this time. I would like to say that the future for Active Mining and its shareholders is exceptionally bright and I am over enthused with how this week has played out. An official announcement will be released in due course.
Kenneth E. Slaughter, CEO/CTO
Virtual Mining Corporation
Active Mining Corporation
Ken,
can we have a timeframe on an update please, totally understand that you are manic... but investors deserve to know what is happening.
can we have a timeframe on an update please, totally understand that you are manic... but investors deserve to know what is happening.
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We are entering a new phase, where I will need more time to work on the business to make it successful for everyone. So I will be getting some help here in the thread. This help takes a little more time to get the information processed for posting in the thread. So at the point you are talking about, the information had not be processed, so I did not mention anything about it. I hope this answers your question.
and by the sounds of it he will be trying to get help from us. If there is any trust involved I will be selling my shares once and for all, because like i said, full liability needs to be on Ken, as he is the one who received the funds. It would be so convenient to hire a thief off the forum, maybe an anonymous friend of his, to disguise his devious actions as someone elses.
I feel like this needs to be bumped
Look, Chicken Little, if you want to wallow in reactionary FUD and be "secure in your insecurities," by all means go right ahead in the privacy of your on making.
You are not contiributing anything of value with your paranoid meanderings. Not to mention your aggressive tone is highly offensive and totally unproductive.
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We are entering a new phase, where I will need more time to work on the business to make it successful for everyone. So I will be getting some help here in the thread. This help takes a little more time to get the information processed for posting in the thread. So at the point you are talking about, the information had not be processed, so I did not mention anything about it. I hope this answers your question.
and by the sounds of it he will be trying to get help from us. If there is any trust involved I will be selling my shares once and for all, because like i said, full liability needs to be on Ken, as he is the one who received the funds. It would be so convenient to hire a thief off the forum, maybe an anonymous friend of his, to disguise his devious actions as someone elses.
I feel like this needs to be bumped
I can't seem to find this quote. Did Ken say this? Where?
Thanks.
Quote
We are entering a new phase, where I will need more time to work on the business to make it successful for everyone. So I will be getting some help here in the thread. This help takes a little more time to get the information processed for posting in the thread. So at the point you are talking about, the information had not be processed, so I did not mention anything about it. I hope this answers your question.
and by the sounds of it he will be trying to get help from us. If there is any trust involved I will be selling my shares once and for all, because like i said, full liability needs to be on Ken, as he is the one who received the funds. It would be so convenient to hire a thief off the forum, maybe an anonymous friend of his, to disguise his devious actions as someone elses.
I feel like this needs to be bumped
I feel like it's time to ignore your whiny, attention-whoring ass.
Quote
We are entering a new phase, where I will need more time to work on the business to make it successful for everyone. So I will be getting some help here in the thread. This help takes a little more time to get the information processed for posting in the thread. So at the point you are talking about, the information had not be processed, so I did not mention anything about it. I hope this answers your question.
and by the sounds of it he will be trying to get help from us. If there is any trust involved I will be selling my shares once and for all, because like i said, full liability needs to be on Ken, as he is the one who received the funds. It would be so convenient to hire a thief off the forum, maybe an anonymous friend of his, to disguise his devious actions as someone elses.
I feel like this needs to be bumped
stock noob question:
Can anyone explain, in a few sentences and plain english, PUT and CALL options?
Can anyone explain, in a few sentences and plain english, PUT and CALL options?
No, but give me 5 minutes and I'll write a few ... then YOU can go buy them
DARR!
stock noob question:
Can anyone explain, in a few sentences and plain english, PUT and CALL options?
Can anyone explain, in a few sentences and plain english, PUT and CALL options?
Cant explain it better than Bitfunder......
awesome thanks!
I understand being paranoid about hiring, but at some point they have to hire a few people to do some of the tasks as mentioned.
I was thinking about getting an insurance bond and a criminal background check and offering some trusted services myself to help out with some of these intermediate tasks. They need a group of trustworthy people that understand bitcoin to help out.
I would think with those documents and some personal id it should be enough due diligence to consider someone trustworthy.
In real life 15 years ago I was programming a UNISYS payment processing system handling millions of dollars a day, sometimes $8-10 million
dollar single checks, and I'm not in jail...not everyone is so easily corrupted. The trouble is finding the type of people who can look at a high dollar value and see it as another number instead of running off to Mexico.
They need to figure out who they can trust and compartmentalize the responsibilities so that multiple unrelated/arms length people sign off on high dollar value items so that the possibility of theft is made as risk free as possible.
PS...(correction) looks like all the shares are transferred over this morning and trading has begun
I was thinking about getting an insurance bond and a criminal background check and offering some trusted services myself to help out with some of these intermediate tasks. They need a group of trustworthy people that understand bitcoin to help out.
I would think with those documents and some personal id it should be enough due diligence to consider someone trustworthy.
In real life 15 years ago I was programming a UNISYS payment processing system handling millions of dollars a day, sometimes $8-10 million
dollar single checks, and I'm not in jail...not everyone is so easily corrupted. The trouble is finding the type of people who can look at a high dollar value and see it as another number instead of running off to Mexico.
They need to figure out who they can trust and compartmentalize the responsibilities so that multiple unrelated/arms length people sign off on high dollar value items so that the possibility of theft is made as risk free as possible.
PS...(correction) looks like all the shares are transferred over this morning and trading has begun
If by some means you had been able to send a few mill to your private account it would have set alarm bells ringing, it would be traceable and reversable. That would not be the case with a btc fraud. If ken gave the keys to the share locker to someone they could sell a load, convert to btc and disappear over night. It doesn't matter how many background checks to do, if the temptation is there it can and does happen. Look at the real world banking sector to see proof of that.
If you honestly think that someone writing code for (a major company) payment processing / mainframe system and experienced in processing this info and possessing the appropriate security clearance levels to have that kind of carte blanche with numbers that big doesn't know how to make that kind of money disappear...you think too highly of the electronic state of banking circa 1992. The only reason that a either a large payment or a string of small payments didn't go missing is because I am a trustworthy person. It takes a lot to look in the mirror and be able to say that you can be absolutely trusted with numbers that big. I take pride in that.
That said....with the level of technical sophistication we have no there is no reason to have to trust one person to have control of such big amounts...as I mentioned, multiple arms length people should be dealing with this in a manner that there is no way for one person to commit an act of treachery.
Oh, and be aware of the many scam option prices that are there to catch you out.....count the 0's carefully, and do it again before purchasing.
stock noob question:
Can anyone explain, in a few sentences and plain english, PUT and CALL options?
Can anyone explain, in a few sentences and plain english, PUT and CALL options?
No, but give me 5 minutes and I'll write a few ... then YOU can go buy them
stock noob question:
Can anyone explain, in a few sentences and plain english, PUT and CALL options?
Can anyone explain, in a few sentences and plain english, PUT and CALL options?
Cant explain it better than Bitfunder......
BitFunder options are best thought of literally as the 'Option' to buy or sell shares in the future for a guaranteed price set today.
Users can post or 'write' options for people to buy or sell shares from them anytime within a set period of time for a flat one time fee.
For instance, I could post/'write' the option for someone to buy 100 shares of FIAT.USD from me at 0.025 BTC per share as long as it is within a week from today.
Someone can browse the listings, like my price and time frame, and purchase the option paying me a fee such as 0.1 BTC one time for the option.
Now my 100 shares are locked in reserve until the expire time comes, or I cancel unsold amounts.
Depending on the option type, if someone buys it, my BTC or shares must remain on reserve until 'executed' or the option expires.
Anytime during this one week period, the persion who bought my option may 'execute' that it and pay me 0.025 BTC for up to each of my 100 shares of FIAT.USD.
This is ideal if the price per share has gone up over 0.025 BTC recently. People can also use options to cover their losses by buying options to sell shares
at a specific price so that if the market falls out, they do not lose as much since they have a promised price they can safely trade the shares at.
You are literally buying or selling the option to trade X amount of shares at Y price before the option expires.
How to Start buying options:
First you want to decide what you are wanting to do. Do you think the price per share of an asset will be going up or down?
If you think the price will go down soon, then you will want to buy PUT options. If you think the price will be going up, you will want to buy CALL options.
Once you have selected which option type you are interested in, you can sort the proper listing. The 'strike price' is the price that you will be able to buy or sell shares at if you 'execute' the option. You do not pay this right now. This is the guaranteed price you can buy/sell the shares for at the later time.
The 'option price' is the price you pay now per share for the option to buy or sell shares before the expiration time.
Once you are done sorting through the list and have picked out an option that best fits your thoughts and at an agreeable price, just click on the 'Buy' button.
A window will appear in the middle of the screen. (Make sure you have javascript enabled, and if you use NoScript, be sure that BitFunder is allowed!)
The left side of the window will give you a breakdown and a detailed explanation of the option you are looking to purchase.
On the left hand side you will see if the option is 'breakable' or not. This lets you know if you have to buy the entire amount, or if you can break it up.
If the option is breakble, the amount field will be enabled and you can write in how many shares you want. (You MUST to use whole round numbers.)
The right hand side gives you the oppertunity, (if available) to choose how many shares you want to buy from the option.
The right hand-bottom box gives you a general idea of what would happen if you 'executed' the option at a later date.
Now all you have to do is purchase the option. The page will change and a notice will let you know if your purchase went through or not.
Note: Options can dissapear pretty quick, so don't stop to think on it too long!
Frequently Asked Questions
Q: What is the difference between the 'price' or 'option price' and the 'strike price'?
A: The 'price' or 'option price' is how much you pay for the option up front to be able to execute the deal at the 'strike price' per share during the timeframe.
Q: What is the difference between buying a 'PUT' and a 'CALL'?
A: 'CALL' means you are buying the option to purchase X shares at Y price at any time before the expiry, where a 'PUT' means you can sell X shares at Y price anytime before the expiry.
Q: So if I have see a 'strike price' of 0.2 BTC, and an 'option price' of 0.001 BTC for 10 shares, what do I pay when?
A: If you buy the option for all 10 shares, you would pay 10(amount) * 0.001(Option Price) = 0.01 BTC up front for the option. Then if you choose to execute the option before it expires, you would then pay 10(amount) * 0.2(Strike Price) = 2 BTC.
Q: How do I know the option writer can cover my option?
A: All option writers must have the funds or shares available at time of posting/'writing' and be reserved for this purpose.
Q: What happens if I don't execute an option? Are there fees or penalties?
A: The only thing you loose is the original amount you paid to purchase the option.
Q: If I execute an option, will it show as a market trade?
A: Due to the fact that options may execute at prices outside current market price, we do not post executed option trades.
Q: If I execute an option, will it show in my trade history?
A: Yes.
Q: I am trying to buy an option, and it will not let me change the amount.
A: Look on the left side of the option details, it is probably not breakable. If it is, then check that BitFunder is allowed for javascript.
Q: What is a 'breakable' option?
A: The original writer of an option can set it to be 'breakable' or not. This determines if you can purchase the option for a partial amount or if you must purchase the whole amount.
Q: When I am trying to purchase options, I occasionally get told that the option is no longer available or cannot be found.
A: Someone bought it before you, or the option writer canceled it.
Q: Can I rewrite an option?
A: Yes. A rewritten option must be set for a strike price at least 1% higher/lower of the original strike price depending on if it is a 'CALL' or 'PUT'. The expire date will be inherited from the parent option.
Q: Why do I get 'Invalid Strike Price' when rewriting an option?
A: The Strike price must be able to cover the original strike price and possibly a trade fee. We will not allow you to take a loss.
Q: If I rewrite an option, can I change the expire date?
A: No. Rewritten options must maintain the same expiration as the original.
Q: How many times can an option be recursively rewritten?
A: To infinity, and beyond!
Q: What kind of quantity restrictions are there?
A: Option share amounts must be for whole numbers with a minimal of 1.
Q: What are the fees to trade options?
A: There is a 10% fee on the purchase of the actual option itself.
Q: What is the fee to execute the option?
A: Normal trade fee based on your fee tier. If you execute a 'CALL' there is no trade since you are buying shares. 'PUT' options sell shares so you pay a normal trade fee.
stock noob question:
Can anyone explain, in a few sentences and plain english, PUT and CALL options?
Can anyone explain, in a few sentences and plain english, PUT and CALL options?
A day without sunshine is like night.
- Unknown
- Unknown
Your insecurities are your best security.
you create what you fret over.
Your insecurities are your best security.
Quote
We are entering a new phase, where I will need more time to work on the business to make it successful for everyone. So I will be getting some help here in the thread. This help takes a little more time to get the information processed for posting in the thread. So at the point you are talking about, the information had not be processed, so I did not mention anything about it. I hope this answers your question.
and by the sounds of it he will be trying to get help from us. If there is any trust involved I will be selling my shares once and for all, because like i said, full liability needs to be on Ken, as he is the one who received the funds. It would be so convenient to hire a thief off the forum, maybe an anonymous friend of his, to disguise his devious actions as someone elses.
Please do sell your shares and be done with it.
could use a break from all your whining.
Quote
We are entering a new phase, where I will need more time to work on the business to make it successful for everyone. So I will be getting some help here in the thread. This help takes a little more time to get the information processed for posting in the thread. So at the point you are talking about, the information had not be processed, so I did not mention anything about it. I hope this answers your question.
and by the sounds of it he will be trying to get help from us. If there is any trust involved I will be selling my shares once and for all, because like i said, full liability needs to be on Ken, as he is the one who received the funds. It would be so convenient to hire a thief off the forum, maybe an anonymous friend of his, to disguise his devious actions as someone elses.
Trust: 0: -0 / +0(0)
as shareholders we don't want anybody being trusted on the forum. Full liability needs to be on ken if anything were to happen. I dont trust any of you, no offence.
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