[ActiveMining] The Official Active Mining Discussion Thread - page 321.

Streets 2.0

full member

Activity: 490

Merit: 101

FRX: Ferocious Alpha

Quote from: kslaughter on July 12, 2013, 12:18:27 PM

Here are the detail of the dividend payment made yesterday:

Mining Revenue for the week: 80.00 BTC.
Growth And Expansion Fund Payment: 61.13 BTC
=======

Total 141.13 BTC

The Growth And Expansion Fund is not need now as we are unwinding AMC and preparing for it to be merged into
Active Mining which does not have a Growth And Expansion Fund defined. Growth And Expansion will come from
the general revenue of the company, which can include income from mining, sales, and services. Also, the shares
which AMC owned and there where receiving dividends were de-issued as it did not server any purpose due to the
merger for AMC to continue receiving dividends.

It was obvious to most of us, but it is nice to have the clarity for all! Thanks Ken, keep it up

kslaughter

sr. member

Activity: 476

Merit: 250

Here are the detail of the dividend payment made yesterday:

Mining Revenue for the week: 80.00 BTC.
Growth And Expansion Fund Payment: 61.13 BTC
=======

Total 141.13 BTC

The Growth And Expansion Fund is not need now as we are unwinding AMC and preparing for it to be merged into
Active Mining which does not have a Growth And Expansion Fund defined. Growth And Expansion will come from
the general revenue of the company, which can include income from mining, sales, and services. Also, the shares
which AMC owned and where receiving dividends were de-issued as it did not serve any purpose due to the
merger for AMC to continue receiving dividends.

neilol

sr. member

Activity: 302

Merit: 250

100btc buy on btct Shocked

neilol

sr. member

Activity: 302

Merit: 250

Quote from: ?? on ??

Quote from: lolstate on July 12, 2013, 09:46:56 AM

Quote from: themagicdrake on July 12, 2013, 09:30:27 AM

Are plans still on with the visit to the office and meeting with Ken? Who's going?

Babefoot is going tomorrow (Saturday). Update to follow.

Any last minute ideas before I leave tomorrow? What helpful information do you guys want to see that cannot be obtained through the forum?

Not sure that if this was addressed already or if it's allowed - but pictures of equipment, team, etc. time stamped.

SoylentCreek

sr. member

Activity: 266

Merit: 250

Quote from: VolanicEruptor on July 12, 2013, 10:59:25 AM

yes i completely missed the fact that Activemining has less total shares than AMC did
so the question is, did Ken miss that fact too? Is he going to regret this? He seemed to think his dividend payment on Bitfunder was fair a week ago, why is he so generous now?

Simple. Ken is coming around to the basic understanding that the more shareholders and perspective shareholders benefit, the more likely it is that they will invest more into the company. We have all been very vocal about how the way dividends were distributed to all shares, sold and unsold, was far from what most solid companies do. Like he did when he completely restructured the company, he listened to the community. This is the primary reason that I am not bailing anytime soon.

VolanicEruptor

sr. member

Activity: 392

Merit: 250

yes i completely missed the fact that Activemining has less total shares than AMC did
so the question is, did Ken miss that fact too? Is he going to regret this? He seemed to think his dividend payment on Bitfunder was fair a week ago, why is he so generous now?

I'm trying to desperately understand his strategy that is all..

I like to question because I am invested.

lewicki

sr. member

Activity: 294

Merit: 250

Quote from: VolanicEruptor on July 12, 2013, 10:48:19 AM

This is deja vu, were you around last week?
Ken made the mistake last week of distributing the AMC dividends to ISSUED shares on BTCT, rather than TOTAL shares. I call it a MISTAKE because that is exactly what he called it. He then told us the way Bitfunder was doing was the correct way (dividend / 40M), and he needed to adjust BTCT settings so that this doesn't happen again.

So this wouldn't make sense -- why would he backpedal and then backpay us, doing the complete opposite of what he was set out to do a week ago?

I could see him finally realizing that he overpaid us, just as he did when BTCT shareholders got overpaid last week. Sometimes it takes awhile for things to click in with Ken.

The BTC-TC incident happened because it was the first time divs were handed out there and he expected the same rules on BitFunder to apply on BTC-TC.

In this situation, look here:
https://bitfunder.com/asset/AMC

Go to the profile tab and you will see that there are only 7.6 million shares issued. What he did was no mistake.

SoylentCreek

sr. member

Activity: 266

Merit: 250

Quote from: VolanicEruptor on July 12, 2013, 10:48:19 AM

Quote from: SoylentCreek on July 12, 2013, 10:35:25 AM

Quote from: lewicki on July 12, 2013, 10:19:58 AM

Quote from: neilol on July 12, 2013, 10:18:02 AM

Quote from: VolanicEruptor on July 12, 2013, 09:39:55 AM

I asked Ken in a PM where all that extra BTC came from -- extra BTC that far exceeded his mining revenue.

His response: It's all part of the merger process!

Cheesy

I can only imagine how pointless a real conversation would be with him:

So Ken, if it didn't come from mining, where did it come from? Did somebody give it to you?

"it's all part of the merger process!"

But.. but.. you aren't answering my question

"It's all part of the merger process!"

Ken, are you telling me that when two entities emerge, money is created out of thin air?

"Yes!"

So what I'm about to do will make us rich then

"Wait, no! That's not what I.......'

*WHACK*

This is pretty worrying...how easy would it be to pad divs with proceeds from stock sale in order to entice more people to buy stock..ponzi time

I think we deserve an explanation of where the divs came from...

Backpay from the reinvestment fund from before the merge most likely.

Yep. I think that people are forgetting that dividends were getting paid to 40M shares on Bitfunder, even though only ~6M were issued. My guess is over the last several weeks, those ~34M racked up a few BTC, which Ken generously released to us this week. I could be completely wrong, but this would be my best guess.

This is deja vu, were you around last week?
Ken made the mistake last week of distributing the AMC dividends to ISSUED shares on BTCT, rather than TOTAL shares. I call it a MISTAKE because that is exactly what he called it. He then told us the way Bitfunder was doing was the correct way (dividend / 40M), and he needed to adjust BTCT settings so that this doesn't happen again.

So this wouldn't make sense -- why would he backpedal and then backpay us, doing the complete opposite of what he was set out to do a week ago?

I could see him finally realizing that he overpaid us, just as he did when BTCT shareholders got overpaid last week. Sometimes it takes awhile for things to click in with Ken.

Let me ask you, if you have so little faith in what Ken and AM is doing, then why are you still invested, and furthermore, why are you even here? Oh! So you're just trying to bring a nice healthy dose of FUD to this party? I see. Carry on then.

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: SoylentCreek on July 12, 2013, 10:35:25 AM

Quote from: lewicki on July 12, 2013, 10:19:58 AM

Quote from: neilol on July 12, 2013, 10:18:02 AM

Quote from: VolanicEruptor on July 12, 2013, 09:39:55 AM

I asked Ken in a PM where all that extra BTC came from -- extra BTC that far exceeded his mining revenue.

His response: It's all part of the merger process!

Cheesy

I can only imagine how pointless a real conversation would be with him:

So Ken, if it didn't come from mining, where did it come from? Did somebody give it to you?

"it's all part of the merger process!"

But.. but.. you aren't answering my question

"It's all part of the merger process!"

Ken, are you telling me that when two entities emerge, money is created out of thin air?

"Yes!"

So what I'm about to do will make us rich then

"Wait, no! That's not what I.......'

*WHACK*

This is pretty worrying...how easy would it be to pad divs with proceeds from stock sale in order to entice more people to buy stock..ponzi time

I think we deserve an explanation of where the divs came from...

Backpay from the reinvestment fund from before the merge most likely.

Yep. I think that people are forgetting that dividends were getting paid to 40M shares on Bitfunder, even though only ~6M were issued. My guess is over the last several weeks, those ~34M racked up a few BTC, which Ken generously released to us this week. I could be completely wrong, but this would be my best guess.

This is deja vu, were you around last week?
Ken made the mistake last week of distributing the AMC dividends to ISSUED shares on BTCT, rather than TOTAL shares. I call it a MISTAKE because that is exactly what he called it. He then told us the way Bitfunder was doing was the correct way (dividend / 40M), and he needed to adjust BTCT settings so that this doesn't happen again.

So this wouldn't make sense -- why would he backpedal and then backpay us, doing the complete opposite of what he was set out to do a week ago?

I could see him finally realizing that he overpaid us, just as he did when BTCT shareholders got overpaid last week. Sometimes it takes awhile for things to click in with Ken.

lewicki

sr. member

Activity: 294

Merit: 250

Quote from: knybe on July 12, 2013, 10:25:36 AM

Assuming the profit taking frenzy doesn't ensue...

That happened last week. We've consolidated. The buys are trending upwards and are in the .002-.0025 region. There is no profit to take until after we rise above .0025.

SoylentCreek

sr. member

Activity: 266

Merit: 250

Quote from: lewicki on July 12, 2013, 10:19:58 AM

Quote from: neilol on July 12, 2013, 10:18:02 AM

Quote from: VolanicEruptor on July 12, 2013, 09:39:55 AM

I asked Ken in a PM where all that extra BTC came from -- extra BTC that far exceeded his mining revenue.

His response: It's all part of the merger process!

Cheesy

I can only imagine how pointless a real conversation would be with him:

So Ken, if it didn't come from mining, where did it come from? Did somebody give it to you?

"it's all part of the merger process!"

But.. but.. you aren't answering my question

"It's all part of the merger process!"

Ken, are you telling me that when two entities emerge, money is created out of thin air?

"Yes!"

So what I'm about to do will make us rich then

"Wait, no! That's not what I.......'

*WHACK*

This is pretty worrying...how easy would it be to pad divs with proceeds from stock sale in order to entice more people to buy stock..ponzi time

I think we deserve an explanation of where the divs came from...

Backpay from the reinvestment fund from before the merge most likely.

Yep. I think that people are forgetting that dividends were getting paid to 40M shares on Bitfunder, even though only ~6M were issued. My guess is over the last several weeks, those ~34M racked up a few BTC, which Ken generously released to us this week. I could be completely wrong, but this would be my best guess.

finlof

hero member

Activity: 630

Merit: 500

Quote from: lewicki on July 12, 2013, 10:19:00 AM

Quote from: VolanicEruptor on July 12, 2013, 10:17:17 AM

Quote from: finlof on July 12, 2013, 09:59:26 AM

bought up some more AMC shares on bitfunder and want them converted to ActiveMining. sent you a PM ken. also will send an email.

Why wouldn't you just buy activemining shares in the first place?

Because they are cheaper.

well one reason is cause they are/were cheaper and another is to force the conversion of AMC shares -> ActiveMining shares.

knybe

hero member

Activity: 658

Merit: 500

decentralize EVERYTHING...

Quote from: lewicki on July 12, 2013, 08:01:24 AM

Quote from: Vbs on July 12, 2013, 07:01:18 AM

BTC-TC wall is at 1,922,000 now, so that's 19,664 sold in just a few hours.

If not before, both walls will be gone quickly after the 20,000 avalon chips arrive. That's a massive TH increase for the current share price.

ActiveMining and AMC are creeping closer and closer to .0025. It's just a matter of time.

Oh...

Here's some food for thought. That wall that you see over there yonder. It's not as big as you think, now with the price of BTC/USD rising.

Assuming the profit taking frenzy doesn't ensue...

lewicki

sr. member

Activity: 294

Merit: 250

Quote from: neilol on July 12, 2013, 10:18:02 AM

Quote from: VolanicEruptor on July 12, 2013, 09:39:55 AM

I asked Ken in a PM where all that extra BTC came from -- extra BTC that far exceeded his mining revenue.

His response: It's all part of the merger process!

Cheesy

I can only imagine how pointless a real conversation would be with him:

So Ken, if it didn't come from mining, where did it come from? Did somebody give it to you?

"it's all part of the merger process!"

But.. but.. you aren't answering my question

"It's all part of the merger process!"

Ken, are you telling me that when two entities emerge, money is created out of thin air?

"Yes!"

So what I'm about to do will make us rich then

"Wait, no! That's not what I.......'

*WHACK*

This is pretty worrying...how easy would it be to pad divs with proceeds from stock sale in order to entice more people to buy stock..ponzi time

I think we deserve an explanation of where the divs came from...

Backpay from the reinvestment fund from before the merge most likely.

lewicki

sr. member

Activity: 294

Merit: 250

Quote from: VolanicEruptor on July 12, 2013, 10:17:17 AM

Quote from: finlof on July 12, 2013, 09:59:26 AM

bought up some more AMC shares on bitfunder and want them converted to ActiveMining. sent you a PM ken. also will send an email.

Why wouldn't you just buy activemining shares in the first place?

Because they are cheaper.

neilol

sr. member

Activity: 302

Merit: 250

Quote from: VolanicEruptor on July 12, 2013, 09:39:55 AM

I asked Ken in a PM where all that extra BTC came from -- extra BTC that far exceeded his mining revenue.

His response: It's all part of the merger process!

Cheesy

I can only imagine how pointless a real conversation would be with him:

So Ken, if it didn't come from mining, where did it come from? Did somebody give it to you?

"it's all part of the merger process!"

But.. but.. you aren't answering my question

"It's all part of the merger process!"

Ken, are you telling me that when two entities emerge, money is created out of thin air?

"Yes!"

So what I'm about to do will make us rich then

"Wait, no! That's not what I.......'

*WHACK*

This is pretty worrying...how easy would it be to pad divs with proceeds from stock sale in order to entice more people to buy stock..ponzi time

I think we deserve an explanation of where the divs came from...

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: finlof on July 12, 2013, 09:59:26 AM

bought up some more AMC shares on bitfunder and want them converted to ActiveMining. sent you a PM ken. also will send an email.

Why wouldn't you just buy activemining shares in the first place?

finlof

hero member

Activity: 630

Merit: 500

bought up some more AMC shares on bitfunder and want them converted to ActiveMining. sent you a PM ken. also will send an email.

lolstate

full member

Activity: 196

Merit: 100

Quote from: themagicdrake on July 12, 2013, 09:30:27 AM

Are plans still on with the visit to the office and meeting with Ken? Who's going?

Babefoot is going tomorrow (Saturday). Update to follow.

lewicki

sr. member

Activity: 294

Merit: 250

Quote from: Streets 2.0 on July 12, 2013, 09:35:25 AM

Quote from: Surprise on July 12, 2013, 09:29:43 AM

I think the situation we're in here is kind of a paradoxical one. The value of the company increases a lot when the NRE funds are raised, but decreases a lot if the funds are not raised. Therefore investors are loath to buy in at the top of the wall when the odds of it dropping seem low. But they will be so eager to buy once the wall gets lower. So we're in a situation where we just need to see a decent chunk of the wall fall before a feedback cycle gets triggered like so. Wall gets lower > investors decide to buy > wall gets even lower > more investors decide to buy.

Anyone care to take that first big chunk out? Grin

Im still mulling it over - maybe a collaborative buy amongst us strong supporters? Say at least 7-10 BTC a piece minimum. If five of us were interested, and went 10 in, 20k right off the top - hardly a dent though. Now if six or seven wanted to go 20 BTC or more, could wipe out 70k shares or more quickly and maybe start a surge?

I can do this.

Topic: [ActiveMining] The Official Active Mining Discussion Thread - page 321. (Read 479317 times)