I am just now getting around today and caught up on last nights proceedings and I have a few comments and thoughts.
I am honored some of you have considered or mentioned me for a board seat. I have professed a desire to assist in Active Mining and have taken an initiative to keep people informed.
I do not think that a board seat should be unequivocally tied to the amount of shares you hold. Just because you are an individual with a large amount of shares does not guarantee that you are a person with a perfect skill set of someone who should be a board member. That is not to say, that a person with a large amount of shares cannot be a board member, just that other factors should tie into how someone is selected. A board member foremost, should be a professional in a related industry, experience in dealing with personalities is key, and having a professional approach to situations is a must. Too many knee jerk reactions can cause major flubs for your corporation, and I see it happen day in and day out to so many strong organizations. However the board is chosen, there should be a lot of thought into who is selected, but of course this is going to be on Ken.
My opinion on the share walls; congrats on the NRE! I don't have a large problem with the issuing of the remaining shares, because alas they will have to be issued. If you purchased shares from speculators at 0.0028, I can understand why you would be miffed. Purchasing from the speculator was a decision made by you, but I think if you were maybe more aware of how the remaining shares were to be issued, it would have helped you make a better decision.
Here is what I know
What happens to the Active Mining Cooperative (AMC) now?
Existing AMC (BitFunder) and AMC-PT (BTC-TC) shareholders get the benefit of being able to tender their shares for ActiveMining shares, getting all the benefits of new hardware sales and the shareholder's protection program of BTC0.0025/share, on top of their current mining profits. After existing AMC ask walls are sold (around 4,000,000 shares) and 90% of existing AMC shareholders tender their shares to ActiveMining, AMC starts on a liquidation process, to be fully absorbed into ActiveMining
This language infers the shares that were not fully issued, ie the mentioned release of 500k more, those shares were to be released at 0.0025. I assumed that this was what had to happen when reading this language above. Regardless to this fact, the shares probably should have been either; announcement that they will be released at X date and X time at X 0.0025, or added to the initial wall in the beginning of the IPO rather than withheld from those 0.0025 walls on BTCT and BF, or announcement they would be released in batches of 100k at X date and times spread out. There are options, and probably more than those stated above. Point is, they all give the shareholder an announcement of the intentions so they can invest wisely. Either way, ANY share issued under the 10 million cap is provided the shareholders protection program no matter what price it is purchased or issued at. That part in your FAQ needs to be corrected.
As to the language that reads:
The issuing of more ActiveMining shares can be allowed in the future - this only means that there will have to be a shareholder vote if more shares were to be issued over the 10 million to shareholders and 15 million corporate shares.
At any rate, I think some investors need to calm down a little and not react so quickly. Everything is not going to play out instantly. I share similar thoughts, but responses should provoke discussion and produce ideas, not a forum feud spat back and forth.
Clearly, Active Mining is not going away, that notion should not be entertained. Ken could never disappear with your BTC, he is to exposed. Those worries should not be even in the process.
