Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 143. (Read 771512 times)

So in May 2013 we were close to having hashing 45nm chips? We never saw the pictures I guess (I wasn't around then) but could this be what the shipped products are based around? Or was Ken making it up in May?

As usual crumbs misquotes by only taking a snippit of the IRC conversation (I recommend all shareholders visit the IRC regardless if this troll is in there (He never talks so it's all good)

Vince does a good job at explaining the steps.

There are a few people in the IRC chat that want to take legal action to try and get their money back and I have told them that they should do it and report back to us but also told them what to expect so they are not just throwing good money after bad. All the Pre-orders would have to be refunded to customers, since Ken only took "$1M supposedly" just for the NRE for eASIC that means he would have most likely had to dabble in Pre-order money. So once all the pre-orders get refunded (and I imagine that there is probably lack of money to do even this) then shareholders would get the remainder split based on shares and still likely have to pay legal costs for the case.

That leaves two options in my mind, a criminal case by contacting the SEC and letting them do all the work and pretty much be guaranteed to never see any money again but it would likely result in anyone involved within management to be in serious trouble which might feel good for some of you seeking revenge or since we know there is an eASIC contract we can just wait and see if there is a recovery of this project from the new teams and potentially recover some money that way.

Basically do whatever you guys feel needs to be done as no one else is going to do it for you.

While people continue to feed the trolls and discuss rape, I suggest we deny them the airspace and consider more constructive discussion.

It seems that there is quite a big knowledge gap among shareholders in terms of the technical process of making an ASIC miner.  Words and phrases are being banded around by people who clearly don't understand the process and yet it seems no-one is keen to step up and attempt an explanation of where ActM might be in that process.  The way I (mis) understood the recent announcement was that the RTL thingy applied to the boards themselves and not the chips.  Could it be that the chips are all fine and ready to go but the boards are being redesigned?

Here's what I propose.  A more technical minded shareholder posts a brief explanation of the process as a kind of timeline in list form.  We then discuss where we think we 'could be' on that list and from that we formulate specific questions to put to Ken.  There are enough clues out there to do just that and I would gladly step up but am lacking the technical knowledge to do so.

I'm more than happy for someone else to suggest a better use of our energies, but the sooner we steer this conversation away from talk of rape and fantasy prosecutions resulting in a quicker fantasy implosion of this business, the sooner this whole episode can be put behind us and we can move on.  And that's what will happen at some stage, this episode will be behind us and we will have moved on.  Now who wants to speed this up with me?

It's not ken deleting posts, at what point did you miss that?

It's forum moderators.

Exactly. Been wondering where all these happy and quiet vmc customers are myself.

This whole thing is such a pile of shit. Might as well add it to the list of bitcoin fails.

Returns are in fiat, so no. Unless said person buys more btc and the price appreciates, then yes.


My mistake, I clearly meant customers.

We are in this to make money, that has been the goal from the beginning.

Bargraphics is completely right - let's discuss the potential outcomes.

1. you run out of money before you get a verdict, then have to cover the other sides costs (most likely)
2. you lose, and have to cover both sides costs (very likely)
3. you win, but all the winnings only cover legal expenses and put your investment out of business. (least likely)
4. you sit back, and see what happens, and you might get rich, or your shares might be worth nothing.

Options 1,2, & 3 look great. Good thinking team. /sarcasm

Gladly, it seems "respin" doesn't take that long using eASIC:

I don't know how much of a "priority" that "working on the core business" is when Ken is sitting on here all day deleting posts and not answering anyone's pertinent questions.

I couldn't agree anymore.  This should be a priority along with the core business atm.

edit:  I also feel manual verification of shares could of been quicker at this point.

With so many pre-order scams, people are beginning to confuse "investors" and "customers."
The guy pre-ordering a miner is called a customer.
The guy buying virtual shares in the Virtual Identity known as Active Mining could be euphemistically called "investor."

We are at the point where a refund would be more profitable than holding onto the machine, even if they ship now.

Sure, investors are free to request a refund and I doubt Ken will deny this (I don't really know as it hasn't happened yet.) But they also run the risk of having to get back in at the end of the line when evidence of production does actually come out.

One day I'll learn how to math, and then... look out, world!

If there are $6M in pre-orders for these machines that likely will never work, then can someone point me toward the thread where the pre-order customers are asking questions?
It is strange I do not see it.   Because all those people are in line to get their money back before any investor does (if they exist).

I wish we had 16TH/s chips

I think you mean 500GH/s and 16GH/s

But your point remains. Our efficiency to deploy is diminishing every single day. Soon we are going to look like the dickhead who thinks he can 'build the biggest bitcoin mine in the world' by only using USB miners while the rest of the world is pushing out chips hundreds of times as fast as ours....

If 500TH/sec chips are B&D hand drills, the 16TH/sec chip that ken has promised is...
It also pays to remember the growing difficulty.  A B&D hand drill delivered today is as effective as the all-pro CNC delivered tomorrow.

It is my line of thinking that home mining will become some what irrelevant, with huge corporate farms becoming more common.
We can already see it happening with huge farms such as Cloudhashing in Iceland and the pictures of ASICMINER recently released.
Economies of scale and all that jazz.

Maybe we are all being far to harsh and looking at the small picture. Ken has pointed out a few times his product is more industrial that that of a home miner.

This however does not mean that Ken should be much more transparent with the shareholders and customers.

What ever happens I will be holding - I have no choice either way.

It's possible that Ken has seen the dawn glow of "Industrial scale" mining, by big boys with deep pockets.... the difference between the Black and Decker hand drills everyone else is making and a production robotic drilling station.... therefore is characterising "our" machines to fit this exploding niche.