Topic: [ActiveMining] The Official Active Mining Discussion Thread - page 286. (Read 479317 times)

That's because it is a cash grab. Basically it's the chance to get all the funding he wanted very quickly. That's understandable but once the share popularity became obvious, it should have come out on here and been stated very clearly, e.g.:

Due to the high levels of interest, I am proposing we do a further, small IPO to cover the costs of XXX. These were not accounted for in the initial IPO as it was assumed that actual sales and the share offering would take longer than has been the case. These costs would have been covered over the forthcoming time period.

The alternative is to wait and see if the orders are fully paid for, and to earn other income from mining as initially planned.

The opportunity here is to shave 2 weeks off our schedule (I'm making this up - in reality it isn't 100% clear to me and I wish ken would explain properly, but this is my assumption).

Proposal: issue 350k shares on btct and 150k shares on bitfunder at market rate or 0.028, which ever is higher.  The issue will be made in 5 days, that's Wednesday xxx July.

No further shares will be issued within X weeks.

2,000,000 more shares will be issued between x August and y December at market rate. A minimum of 14 days notice of price and share issuance will be given on this thread.

- the above is just my example of what I think should have happened and in fact what should still happen. Numbers all made up etc, this is just an example post!

https://bitcointalksearch.org/topic/m.2325968

Just a name check he doesn't go into much except Bitfury a little, I would assume someone on the AsicMiner team is at least reading this thread, this is good for them though and they realize the need for diversity in the BTC Mining world.

What did he say? Was it a name check or did he go into specific detail/speculation?

Friedcat mentioned AMC in the last Quarterly report.

hi all,

I've lurked in this thread for quite a long time and let me state this right up front:  yes I do hope that everything is above board and it's a win/win for Ken and shareholders alike.  I'm not a manipulative FUDster troll.  I am, however, someone who holds a few shares and would like a little clarification for the record.

As was mentioned a few posts ago, I also remember when the wall was all that was required for the NRE funds to pan out. Then I see that there are pre-orders in for ASICs that could help with the start-up funds as well. Excellent! So if BTC stays low, there would be something to draw from at least to aid in the NRE.  Suddenly there is mention of a new wall of shares for extra expenses.

Now I really want to give the benefit of the doubt here, but my spider senses are tingling.  Confidence is shaken somewhat when a load of new shares is added shortly after a massive wall has finally been eaten up.  It gives it more of a cash grab feel than planned capital.  As was started before by someone, it would be much better if instead of just stating "adding more shares now" and leaving it at that, if you would both provide some lead-time as well as state some numbers behind the request.  Transparency is key here, especially when this (and everything BTC, let's face it) is extremely high-risk.  Knowing how much is left to fully fund eASIC for example, and what these other expenses are and their relative cost would be crucial to investor confidence.

Again, don't take this as FUD please. I feel this is a valid point and something that should be expanded upon.

Hey Ken, I just wanted to congratulate you on the funding of the NRE. Looking forward to the next months.

I agree with every single word that ffssixtynine says. Ken, just answers to his asks and it will be enough for all of us  

That is freaking amazing. Ok, if we were not on Friedcat's radar before today, we are now!

Just a side note, AMC-PT has 1000BTC more 24h volume than ASICMINER-PT on BTC-TC!

ffssixtynine, don't you see at least one person here *up until now* couldn't walk away? There have been/are some very cynical and manipulative posters on the ActM threads, and I shudder to think what could have happened if we had simply kowtowed to them. So, there you go, I gave the secret away! I would rather lurk here and not post, but since no one stepped forward to call out the FUDsters, I thought I would be a hypocrite to hide away, when I saw what had to be done.

+1. I'd also like to add a request that any of the 15M shares owned by AMC won't be sold without adequate (over 24 hours) notice. If this has been covered already, great - but I didn't see anything in the prospectus.

hear hear... agreed 100%

I think the circling sharks (specs) still smell chum in the water though.

Ozy, should I be scared?!

Stu, when you ipo that is the nature of the beast. The stock sold well because many people think they can make a quick buck. That's how it works. Ken makes money, they make money, and more people are pulled in for the long term or the next 'roll over' as it were.

What you can't do is engage in market manipulation, whether you meant it like that or not, because then the market won't trust you.

The stock would probably have settled around 0.003 as so many people bought in at 0.0025, lower on bitfunder. 20% profit in a day is pretty good and a lot of people will take it. Much more wont happen until a lot more money enters the exchanges and/or mining gear goes on-line, or there is been sufficient turnover at a higher stock price than the ipo.

Edit: lolstate: do not rise to the bait, some of the questions are very fair, don't quote the whole post and generally just walk away. As I said, you are not helping anyone. Leave it alone. In your head you already won, and you may be proved right, so be happy and go celebrate!

No, that's not true. There are two classes of critical/concerned poster here: a) genuine ones we need to communicate with and b) fakes who are trying to disrupt proceedings.

We need to call out the disruptive element and refuse to humour them, because although it is too late for them to stop ActM, they will be a pain in the arse for who-knows-how-long. If you've been here for a while, it is easy to recognise them and smile when they pop up, but it is unfair on new investors who will be scared away by the FUD. There is also the nastier element (of which Floates it the best example) who are trying to play people to favour their trades.

However, as I said to Streets, we are 99% done. The IPO has been a success. So let's look forward to a rosy future.

You, I like you

A few things people are missing here-

if Ken had not put up these latest walls what would have happened? Price would have shot up to maybe .004 and there would have been a big sell off. Fact. This place is flooded with speculators and any big big percentage move will always be followed by a sell off. That is the nature of short term market speculation. So it's likely we would have been back sitting around .0025.

It is actually better for long term steady growth that share price does not go up too quickly. 25% in a few days is actually way too fast. We all  saw btc surge to 260USD followed by a huge sell off that it is yet to recover from. That sort of volatility is not healthy for any stock.

A 10% gain per week is sustainable and will prevent massive sell offs that scare away investors and make a company look rocky. 10% a week will make us all very rich so be sensible and calm down everyone.

Lolstate you are really not helping. Please stop being childish.

Ken, can you quickly:

Specify which walls are yours on each exchange and at what price?

Confirm that you will sell 500k shares in total, and if you'll add to an exchange if that will sell 500k better (and pull that same amount from the other exchange)?

Confirm concisely and clearly how the share counts in the 3 funds relate to each other? We know 10 million in total but the details need to be made clear.

I posted other questions earlier which street will organise properly I hope

Well, the answer is simple, then: don't invest.

Reign it in guys, lets get back on track!  nothing is gained bickering

Mature. the only reason people have been trying to count all the shares for the last 3 pages is because I posted a pretty objectionable analysis about why things about this investment are unclear.