Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 148. (Read 771512 times)

Have removed the paragraph appealing to others better judgement in the hope this post is not deleted as well.



So here's what I'm thinking.  Ken has two solutions to the shares issue with coloured coins number one and CT a fallback option.  He will continue to stall the CT option in favour of a permanent decentralised solution.  That is excellent and is telling of Ken's long term aspirations to make this company a success.  The day he gives off signals to the contrary is when all hope is lost, until then we are still in the game.

Regarding the technical side of things of which I am almost clueless, I recall that BFL also changed their engineers for similar reasons that Ken has given.  They seem to have got over that hurdle which didn't sink them.  Now perhaps we are assuming that changing engineers means we have to go back to square one but surely the second firm might be able to build on work already done?  Also we don't know how long the second firm have been on board (no pun intended  ) and how close they may be to completion.  Add all that to the quote below and I'd say once we negotiate with Ken to release more details there's every chance we look back on this episode and realise 'mass hysteria' sucked a lot of us in.  Now before you flame me, I am only sharing my opinion and have a very positive outlook on life.  My cup is always over half full and if you lose hope then you throw away any remaining chance of success.  This is from the most legitimate person in this thread due to his inside knowledge who is willing to post.

ken's intellihash reminds me of ukyo's special portal lol

Great! So we end up with a %§&*'# perfectionist that want a really perfect chip and board without the mental ability to make compromises. Not even when the more perfect solution only means way less profit. Really great. The more stupid is that ken already had a working prototype that he tested.
How can it be more important to get 20% more hashrate when you crash the project in the meanwhile. I mean he has to look away from the difficulty for doing that. Doesnt he realize that the diff is rising? The 20% are shit when the profits overall are dropping 50% each month. Even when Intellihash only would have taken two more week development time it wouldnt have been worth it. But he now threw away months already. Really stupid thinking ken. And all shareholders loss. Including Ken.
Of course thats only valid when Intellihash is the problem of all. But i dont see another reason because there was already a running prototype.
*sigh*

Where is that IRC log, anyway?

StuartUK would say something like you just did because he would think that people would be too stupid not to see through it.

I also think you are StuartUK due to the fact you brought up Labcoin in response to me pointing out that customers will be demanding refunds and that by the time ActM start mining, their chips will be useless. StuartUK and zumzero have always pulled that shit but zumzero has been posting as zumzero and I haven't seen any posts from StuartUK.

Therefore, you are most likely StuartUK.

I sort of took it as that as well. 

So who thinks the shareholders would have been informed of a few fundamental 'issues', if Bargraphics wasn't visiting?

Breif visit, me thinks. 

No he means, dont invest in mining companies. Just buy and hold BTC and save yourself the feeling of failure.

What he is saying here is: "Unless bitcoin value goes to $10,000 we will not be in a very good position to make this work."

I'm sorry, but at this point I have to assume that my investment is gone.  This update was riddled with so many contradictions, that I cannot help but think that Ken is just treading water at this point.

On the matter of when and where we can trade shares:

Interesting.  I remember being told weeks ago that this process would be done within a week.  Sounds to me like Ken is quickly becoming aware of the bloodbath it will be the moment trading goes live, and he is holding our shares hostage to delay the inevitable.

On where we are currently at from a development standpoint:

So basically, we are at square one, yes?  If a new engineering firm was brought in because the original firm was a collosal fuck up, why are we just now hearing about it?  Secondly, as of 1/1/2014, you guys were "[assembling] our miners for quick delivery."  Err... How have you been assembling miners if there is litterally nothing readily avaiable to go into them.  Oh!  You managed to put a power supply in a case.  Wonderful!  I guess we are well on our way then.

On what he anticipates the hash rate to be by the end of Q1:

Uhh... The question was not how awesome the RTL design team was, it was "What do you estimate the ActM hashrate be at the end of January, February and March?" So basically, no hashing can be expected until after March, yes?  

Oh, so you are willing to go on record and pull an arbitrary Bitcoin valuation out of your ass, but you cannot give us a goddamn estimate of when we will be in full production, or when we can begin trading OUR shares.

yes. But there are the tidal wave of shills and half-shills who are going to come in here and on IRC and convince everyone that that route is useless or to wait it out.

1.   If something was shipped you would have people posting and starting threads for help debugging, overclocking etc.   I think that should answer your question.
2.   A large group of you guys needs to demand this answer from eASIC.  It was your money and you have the right to know.
3.  Good point, you all could have just held your coin yourself and avoid having to ask where it is every week.
4.  Intellihash?  Really?  No one would believe anyone would slow ANYTHING down for even a week in a market where difficulty moves 100% a month for a 20% gain.   Why does this keep coming up.

The time has come for you guys to start acting like men and find out how much money you can salvage from this.   Begging for answers when you are the BOSS and the financier is pathetic. 

Again if you could please check if your questions are already on the list, and if not add them:  https://en.wikipedia.org/wiki/User_talk:VinceSamios#Questions_for_Ken

Please make sure to sign your questions, just add "~~~~" after your question.

Perhaps, if this colored coins thing works out, ActM shares will be able to be traded as collectors items as the first colored coin asset. Then we will all be rich.

But with the rest... that is just it. You know absolutely nothing because there is no way to arrange the pieces of the story which we have been given such that it makes sense.

eASIC had to have delivered chips... why can't we see a picture of those?

This update has cause quite a stir to put it mildly.
In this instance I strongly believe that we're entitled to a more in depth update - even a Q&A session on IRC would help.

There is a lot not making sense at the minute such as products ships, however the update indicates that this could not be possible.


I've also bolded a statement above specifically due to the words "should it turn".
We were previously told that the delays incurred are due to Intellihash and this would be a game changer otherwise there is no logically reason to delay things for such a possibility is there?


This is definitely not the update I wanted to hear...

"this year"

I never thought that *not* being able to trade shares would be a silver lining.

I had originally marked this up as bASIC 2.0 but when I saw the contract with eASIC I upgraded them to BFL.  I have now learned my lesson - never doubt the incompetence of Bitcoiners.

BTW, am I 4 for 4 on my checklist?  The first point maybe not (sounds like he did some coding) but the large amount of engineering work he hasn't done makes the point more true than false.  IMO.

edit: also interesting to see all the names which no longer grace this thread...

LOL

You are not getting the central point which I tagged as being 'the central point':

 'if the ACtM farm is able to grow month on month to either meet or exceed global hash increases in essence it does not matter if it opens Dec 2013 or March 2014. BTC could be being mined profitably by ACtM for the next 10 years. A 3 month delay represents a tiny percentage point of lost profit over that extended time.'

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