Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 26. (Read 771276 times)

Labcoin was around long after it collected the IPO coin.  It actually moved its shareholders to a new exchange - a point not lost on the true believers.
Another point bandied about was Labcoin not dumping its shares on the market

@Mainline

He was not around long after he collected Money. Labcoin lied about his identity, had someone reputable ( I think ) on the forum hype him up and disappeared once he was called a scam. Ken collected money way before Labcoin and has been around long after Labcoin and through a bunch of scam accusations.

Ken you've had another week go by without starting the share verification process, what's going on? Last you spoke all that was required was a bit of time to upload the program to a server.

The "second IPO" (lol, ikno, right?) was .0025.  If you don't know that, you're beyond help.

*But don't stop typing.  A monkey doesn't need to type coherently - just the fact that it types is what's impressive!

You seem to know a lot about scamming, mainline.  Do any yourself?  Sure sounds like it.  PS you are wrong that shares are selling for less than IPO.  That statement is totally incorrect, but I'll let you do your own research you poor sample of a soul.    Just checking in, until next time...

Sure.  So was Labcoin.


...and so has Labcoin.


That's called "testing the water."  If people didn't jump down his throat, he would gladly promise 20nm tomorrow instead of 28nm today.  Buys him more time without any effort.


Labcoin was around long after its IPO.  
The scammers who do what you expect them to do are called "failures."  Successful scammers don't - that's what makes the scam a success.

"Grab the money & run" is a dumb, short scam.  This scam is more involved and more time consuming, but when it's done, *it will look no different than a failed business*.  The lack of potential legal consequences this type of scam assures makes the time investment worth it.  It allows the scammer to rinse and repeat, instead of being on the run.


Leaving a glimmer of hope - that what looks, quacks and walks like a duck is actually a real business - is what affords scammers the time they need to gracefully distance themselves from the scam.

@KingCrimson I hear you, I was even calling Labcoin a scam. Their lack of communication was not nearly as bad as Ken's at Ken's worst points.

There are a few reasons while I'm still involved in this, some voluntarily and some not. Before I get to those I would like to thank you guys for trying to stop other new people who don't have shares already tied up in this from investing, no matter what your motive is.

I personally saw some other reasons why Labcoin was a scam that I can't really tie to Ken.

He paid Divs from his own miners for months (Or so I've heard, I've only been around since August though I have collected Divs from then).

Ken has been here for months after he collected any money. You can say "Well he just got more money off Ukyo's shares." True, but was it worth it from the amount of money he collected way earlier in 2013.?The amount of money he just collect is negligible compared to back then. Sticking around this long just for that seems rather stupid, and Ken might be lacking in charisma and communicative skills but I wouldn't go and call him stupid. (I mean this is something an elementary school kid could work out, and I know its fun to insult people but we really can't say Ken is that far down the left of the Bell curve.)

I think Ken has just been a little over ambitious, (along with some of the shareholders in here), and unfortunately a new business doesn't always sky rocket to the moon. No matter how much experience Ken could have had, he was going to run into hiccups in the road. I think he might of tried to go a little too far, a little too fast. And I see this again with his mention of (20nm).

As I stated to Mainline last week; for some of these companies you have to look at them as a gamble and not some bond that actually upholds the % it promises. I did that at the beginning and it is why I am not stressed out about this project now. It might or might not pay off, I plan to see which way it goes. I unfortunately feel bad for some of the other people who sunk quite a lot of money into this expenditure (I did not, thankfully).\

Ken is still here. Scammers slowly/quickly/try to distance themselves after they get the money, I haven't seen Ken doing that at all. I can't call him a scammer if I don't see him acting like a scammer. He might not be the best CEO in the world but he's not a scammer, and claiming he is is not only ruining his reputation but it is also ruining others. That's a very serious offense on this forum (IMHO). When Ken comes on here and ask for more money by creating more shares then we will all know he is a scammer. As that is something a scammer does.

My shares are MIA. Until I get these back I can't really sell out even if I wanted to.

I do believe he makes very bad PR and Legal decisions at times, but this is what people asked for when they got into Bitcoin. I still see "No Regulation!!!" everyday on this website. So can we scream for no regulation and then expect the people who don't want regulation to follow the laws that come with regulation? No. That's like having your cake to tomorrow and eating it today.

I still think this company can succeed in reasonable bounds. It's a startup company in a startup industry, it's not going to get all the marks correct on its first go and that is what people don't seem to understand. It's not the easiest thing in the world to run a company, even if it only employes your family. Stop treating this company like it is a "Google" or a "Netflix" or a "Apple" that has completely screwed up, this is a startup still trying to get a handle on things.

One last note. I am not defending Ken, I am only stating my thoughts on the matter and why I am still around. I do think Ken has royally screwed up with everything share related for the last 3 months and he needs to fix that as soon as possible. Again, I am not defending Ken and don't want to get into an argument about how I am defending Ken. I am just as upset as some of you guys, I've agreed with many points Mainline has brought up recently (when he's not trolling), almost all of VE's older post and a lot of Pankkake's opinions on this situation.

Ken you wrote that KNC has the same efficiency, only they put more engines in the same chip. Wouldnt that have been the wiser choice for VMC too since the more hashpower in one chip the less the cost per GH should be because you only need one chip package, the slow standard routines are already existing and can be used by all engines, the miner production would be cheaper because you need less parts for less chips and so on. Except the heat production might rise.

Why wasnt eASIC going to the max there?

To quote one sentence and write two, you have to full-quote half a page? What's wrong with you, do you have no manners?

This is exactly what Labcoin defenders were saying for months. "If Labcoin were a scam they would just be doing ______ or ______"

I think scam implies malicious intent. I don't believe there is malicious intent from Ken.

However, i do feel the company would benefit from hiring some new staff with professional management qualifications and experience.

Right now this feels like amateur night at the comedy club - not funny.

To crumbs that means scam, he defines scam differently.

^^^Crumbs, while what you say has merit, i choose to believe that ActM is horrendously mismanaged rather than a scam. Let people make their own minds up.

What's your point?  The guy writes at preschool level, knows nothing about electronics and can't keep his eyes open for PR pics.  Scamming here requires little effort and even less intelligence.  He got your coin - that's a win, no?

*P.S:  Another thing that Labcoin didn't do is keep its shareholders from trading.  Ken, OTOH, is not only keeping you from trading, but is dumping stock at 80% below IPO price while he's doing it.

AFA "known identity"?  The guys who "visited" Ken are Babefoot, who mysteriously appeared and dissipated right after vouching for Ken, and Bargraphics, the guy who also visited Terrahash and raged at everyone suggesting that Terrahash ain't 100% legit.

Pirateat40's identity was also always well known.  He now has some civil case against him, but the extent of the pwnage still has to be seen.  The worst likely fallout Ken will see from this is a few tort cases by large "shareholders," which will be settled for a tiny fraction of the coin raised.
^PROFIT.

LOL!  Trying to compare LC to ActM.  How FUDy of you.  Let's look at a few things that we have that LC did not.  We have a face, and an identity of the person running the operation.  We have a physical location where this operation is being conducted.  We have people who have spoken to Ken over the phone and in-person. We have an established company, with a genuine reputation (eASIC) publicly stating their working relationship with us.

Basically, if this were a scam, Ken would literally be the stupidest scam artist of all time.  Sure, he may be a little incompetent when it comes to running this business, but that does not equate to scam.  Trust me, I am by no means an ActM cheerleader, and I certainly do not have the highest opinion of Ken at the moment, as my post history will show, but I would need a little more evidence than an anecdotal opinion that this is in fact a scam.

LOL!  To be fair, it is early in the morning, and I have not had my coffee yet, so the grammar chi is a bit off.

Nonetheless, there is NOOOO FUCKING way I would even attempt to do PR for ActM.  I had attempted to do some design and marketing for them (pro bono) last year, and I could not even get Ken to sign a freaking license agreement for user nickwen's logo, which I was using as my base for the various designs I was planning.  After that, I pretty much decided to end any and all involvement with Ken, other than being a meager shareholder.

This is a good idea. Investors love this kind of marketing bullshit, they will take it over simple matter-of-fact statements from guys who know what they're doing anyday.

Maybe Ken could hire The Swede, he's got experience at this kind of thing.  Sam Noi was an autistic engineering genius just like Ken, with trouble communicating and sticking to promises, but The Swede managed PR for Labcoin for months, with Sam hardly communicating with him at all!

Jane get me off this crazy thing.

insure or assure? Do we need to be insured? Hope not. I won't be nominating you for the PR role Soylent

This exactly!  He said he was going to be hiring a PR firm last year, and as you can see, that obviously did not happen.  One of the many things Ken said that he would do, that he did not.  Communication is one of the biggest problems that ActM has.  Yes, he is becoming a little more transparent by attempting to answer direct questions from shareholders, but Ken is notorious for putting his foot in his mouth.  A clear example of this is his off the cuff statement about possibly moving directly into 20nm.  With a PR firm, Ken would basically email his statements to them, and then they would present it in the most attractive way.  Granted, you can only dress up so much bad news, but some of the statements Ken has made in the past have not necessarily been bad news, but rather not well thought out.

For example:


would have translated into something like