[ActiveMining] The Official Active Mining Discussion Thread - page 276.

Jimmy2011

hero member

Activity: 589

Merit: 500

Quote from: Technologov on July 20, 2013, 01:59:35 PM

Jimmy : to my understanding 45 nm was a backup plan in case of lack of funding for 28 nm. 45 nm costs $400,000 vs. $1,000,000 for 28 nm.
But I dunno how many chips in this $1 million bucks order.
So this 45 nm plan will be cancelled now.

Thanks. 28nm process is much more complex and difficult than 45nm process. It's better to produce 45nm chips successfully and then 28nm.

EskimoBob

legendary

Activity: 910

Merit: 1000

Quality Printing Services by Federal Reserve Bank

just to avoid future confusions and Voorhees moments:
1) please list the names of current management and how many shares each holds (including you).

kslaughter, as someone else pointed out, you must have plenty of free time on your hands to hang around here.

Because you used to get straight A's in econ class:
2) on what date can we expect the proper financial reports from you?

matuszed

full member

Activity: 154

Merit: 100

Quote from: dexX7 on July 20, 2013, 01:20:41 PM

Vbs, Streets 2.0 and the others: great job!

The next barrier to overcome will probably be the convertion of Bitcoin -> USD. One of the reasons (besides expenses) for the issuing of the last 500k shares was a falling BTC/USD price and KS last calculation was done with 93.30, but he also mentioned he has a puffer now.

Such huge amounts create a wide spread, potentially move the market and there is the probability, that KS gets goxed. Furthermore and this is very important as well: there are daily and monthly withdrawal limits and large amounts need additional verification, i.e. notarized documents.

I do a lot of cross exchange Arb with btc and have a lot of code with the major exchanges to break up iceberg orders . Ken I'd be more than willing to help you spread out the orderflow into USD to remove market impact. For the record I'm an algorithmic trader in equities, BTC is just a hobby, I also am a large shareholder and want to see this all work out.

Technologov

full member

Activity: 203

Merit: 100

Ken: please consider making auction for batch #2 mines at VMC.

The company should solve supply and demand issues and no reason to give this job to ebay peddlers, who buy Avalon at $1300 and resell at $30,000. The company can make extra profit.
But having mines ready to ship is critical for auction to become a success.

Jimmy : to my understanding 45 nm was a backup plan in case of lack of funding for 28 nm. 45 nm costs $400,000 vs. $1,000,000 for 28 nm.
But I dunno how many chips in this $1 million bucks order.
So this 45 nm plan will be cancelled now.

hf

member

Activity: 98

Merit: 10

there will be no fucking vegetables

Jimmy2011

hero member

Activity: 589

Merit: 500

Will ActM only design and produce 28nm chips, or will ActM also conduct 45nm chips as described in the details of AMC-PT at btct? But from the OP here, only 28nm chips are considered.

I suggest perform a combination of 45nm chips and 28nm chips design and production.

Thanks.

MonkeyMarcel

member

Activity: 97

Merit: 10

Quote from: kslaughter on July 20, 2013, 01:45:16 PM

Quote from: ?? on ??

Who is selling 300 000 + shares on BTCT.co?

Shocked

See my post above.

Thanx, I see now. you replied before I could delete my comment. :-)

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: ?? on ??

Who is selling 300 000 + shares on BTCT.co?

Shocked

See my post above.

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: Technologov on July 20, 2013, 01:42:20 PM

Icebreaker looks like a good candidate for director.

Yes, I would think so.

kslaughter

sr. member

Activity: 476

Merit: 250

Quote from: dhenson on July 20, 2013, 01:04:48 PM

It's my understanding that:
a) He will only sell remaining unsold shares when funds are needed.
b) Shares will be released at market price after a sufficient warning is given.

As long as the above two stipulations are followed, I can't think of any reason why the market wouldn't be active.

Ken, I know your busy, but at some point it would be good to clarify your plans on the above and release the amount of shares that are remaining to be sold. (edit... meaning relay to us the quantity that are left)

I personally can't wait until the never ending IPO is over and the market can be left to do what it will do.

The shares now released are all that are necessary for the remaining funding that I have posted before. The NRE, which I believe is the most important and most critical, to the success of the project has been funded. The time to get this funded was also critical as eASIC has a ton of business for their 28nm design. So to reach the NRE funding we used funds allocated to other uses and now need to make up that funding by offering the above shares, or by pre-order sales and payment for those sales. This is a great time for the company and all of its shareholders.

Technologov

full member

Activity: 203

Merit: 100

Icebreaker looks like a good candidate for director.

lolstate

full member

Activity: 196

Merit: 100

Quote from: dexX7 on July 20, 2013, 01:20:41 PM

Vbs, Streets 2.0 and the others: great job!

The next barrier to overcome will probably be the convertion of Bitcoin -> USD. One of the reasons (besides expenses) for the issuing of the last 500k shares was a falling BTC/USD price and KS last calculation was done with 93.30, but he also mentioned he has a puffer now.

Such huge amounts create a wide spread, potentially move the market and there is the probability, that KS gets goxed. Furthermore and this is very important as well: there are daily and monthly withdrawal limits and large amounts need additional verification, i.e. notarized documents.

So what is the solution? These are early days in Bitcoin. We don't have currency brokers or any of the exotic derivatives that could help in this situation. What's a seller to do? Drip feed ~~bids~~ asks into the market?

dexX7

legendary

Activity: 1106

Merit: 1026

Vbs, Streets 2.0 and the others: great job!

The next barrier to overcome will probably be the convertion of Bitcoin -> USD. One of the reasons (besides expenses) for the issuing of the last 500k shares was a falling BTC/USD price and KS last calculation was done with 93.30, but he also mentioned he has a puffer now.

Such huge amounts create a wide spread, potentially move the market and there is the probability, that KS gets goxed. Furthermore and this is very important as well: there are daily and monthly withdrawal limits and large amounts need additional verification, i.e. notarized documents.

Rawted

hero member

Activity: 742

Merit: 500

Quote from: dhenson on July 20, 2013, 01:04:48 PM

It's my understanding that:
a) He will only sell remaining unsold shares when funds are needed.
b) Shares will be released at market price after a sufficient warning is given.

As long as the above two stipulations are followed, I can't think of any reason why the market wouldn't be active.

Ken, I know your busy, but at some point it would be good to clarify your plans on the above and release the amount of shares that are remaining to be sold.

I personally can't wait until the never ending IPO is over and the market can be left to do what it will do.

I enjoy discussing your points, don't want you to think i'm becoming hostile towards you by replying all the time.

a)Why are funds still needed? We reach the NRE days ago, he even announced it via btct.co and here.
b)that's the problem, he is not releasing shares at market price, he is undercutting the market. market price is dictated by supply and demand. as demand increases, supply goes down, and price increases. However what we're dealing with is a stagnant demand, caused by a seemingly bottomless supply of shares, being issued below the current price point. This is economics 101 stuff. How can you defend his actions?

'Never ending IPO' is quite true at this rate.

Listen, i understand sometimes in life we have to suspend disbelief and rely on sheer hope and faith that things 'will' go right. However, that will not happen here without some serious immediate action by kslaughter, who seems content to just check in semi-weekly, ignore questions, and present a generally lackadaisical attitude about it all.

Kuroth

full member

Activity: 196

Merit: 100

I smell Stinky Fish.... Shocked

dhenson

legendary

Activity: 994

Merit: 1000

It's my understanding that:
a) He will only sell remaining unsold shares when funds are needed.
b) Shares will be released at market price after a sufficient warning is given.

As long as the above two stipulations are followed, I can't think of any reason why the market wouldn't be active.

Ken, I know your busy, but at some point it would be good to clarify your plans on the above and release the amount of shares that are remaining to be sold. (edit... meaning relay to us the quantity that are left)

I personally can't wait until the never ending IPO is over and the market can be left to do what it will do.

Rawted

hero member

Activity: 742

Merit: 500

Quote from: hazryder on July 20, 2013, 12:55:21 PM

At this rate the wall will be gone by tomorrow and we can return to normal. The people who are pissed because they bought at 28 will get over it when the price easily climbs far above that in the coming weeks and months. Yes it was a silly move by Ken, but it's nothing in the long run.

The third 'silly move' by Ken in less than a week. That constitutes a pattern. All while reading feedback from his investors (and dodging the subsequent questions) and those that have more experience than he has shown telling him it is a bad idea. It is either complete ignorance, naivety, or swindling. I have a large amount invested (i realize 'large' is subjective) and i'm honestly hoping he is just completely inept at all of this.

ffssixtynine

sr. member

Activity: 364

Merit: 250

If you guys can read back a few pages you'll see that this has been discussed at length. Ken has been told in no uncertain terms, publicly and privately, that this was unacceptable.

In addition, as shareholders some of us have requested urgent formation of a board to prevent all such occurrences happening again, and to handle communication and financials in a proper manner.

hazryder

full member

Activity: 208

Merit: 100

At this rate the wall will be gone by tomorrow and we can return to normal. The people who are pissed because they bought at 28 will get over it when the price easily climbs far above that in the coming weeks and months. Yes it was a silly move by Ken, but it's nothing in the long run.

damiano

legendary

Activity: 1246

Merit: 1000

103 days, 21 hours and 10 minutes.

You girls complain to much. He is doing a good job.

Just shut up and buy.

Topic: [ActiveMining] The Official Active Mining Discussion Thread - page 276. (Read 479475 times)