Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 407. (Read 771288 times)

WeExchange don't answer support emails, so I can't get verified.

BitFunder login is broken, so I can't transfer shares.

I'm sure someone is laughing, but it isn't me.

I'm now really upset that I haven't bought more shares when I could. I hope a way comes before we start hashing away. I plan to gain a bunch of shares and ride this until the ship sinks. Hopefully it will help pay for some of these student loans.

Back on topic though, so we are expecting (a bigger than normal) div on Wednesday. Anyone have any estimates at what we are looking at; also what is there to look forward to this month in terms of eAsic stuff. (Do we have a prototype, is the NDA still up? Are we behind or ahead?) How's Q4 look Ken?

You must have a crap load of shares or make no money. At 10000 shares you're looking at $2000 a year with .00002 a share w/ 1 BTC = $200

Who wouldn't want to reveal their identity and personal details to a website with such astounding customer service? This Havelock development could be interesting but they might also require some sort of identification and there could be legal issues for US citizens as well.

However I just worked out my magic number, if the dividends ever go to 2000 satoshi per share, ActiveMining would double my yearly income (I am a student so my yearly income is small)

However that would make me very happy. Come on 2000 satoshi divs per week!

If you hold over 100,000 shares the divs are just about enough for an entry level McDonalds burger.

We all know what you mean fb he's just being clever. Just ignore, it will be deleted soon. :-)

Im not talking about the satoshi dust dividends...I could care less about those. Im talking about the divs from the mining farm that were building...

I agree and think most people would be happy with a delay in divs if it means we make significant progress on the mining farm. However I think we would need to consult on the thread to get a consensus on that.

Also there would need to be firm plan put forward with figures which show where the funds would go and what the benefits to us shareholders would be. Ofcourse Ken might not want a full reinvest but we can leave it to him to check the figures and projections nearer the time and propose whatever he thinks would best serve the profitability of the company.

Shame that weexchange don't answer support emails.  Or IMs.

In fact i think its an interesting idea. If ken would keep all divs and reinvest them all we could build very fast a very big farm and buy many more miners to sell. So a month without divs might lead to a way higher div later. Of course it had to be calculated through thoroughly if it would work this way.

You won't be able to trade on BF as a UK citizen unless you get verified.  This has been the case since 1st November.

To get verified, you need 100 points and things like drivers license, utility bill and passport all get different points towards that number.  This is done through Weexchange.

There is such little trade on any BF securities that one wonders if it is worth it.

Personally, I have chosen to keep my shares on BF and get verified just in case there comes a time where not having done so means lost opportunity.  

You will need to get verified by December 1st or your shares will be sent to Ken (I think), however if you don't like the idea of giving out your personal details then just wait for an alternative solution.  There are a few alternatives in the pipeline.

(UK too)






Important Notice (October 8th, 2013):

Please be advised that BitFunder is implementing the following rules and procedures:

As of October 8th, 2013, BitFunder will not accept new registrations from any United States persons or entities. All new registrants must supply the information required to obtain "Verified" status on their linked WeExchange account. BitFunder may, in its sole direction, decline to accept any new registrations.

As of October 8th, 2013, all current BitFunder users who are located in the United States or are determined to be United States persons or entities will not be able to enter into any new positions on the Bitfunder website, and, as of November 1, 2013, such users will also not be allowed to sell positions on the BitFunder website.

All current BitFunder users who are not United States persons or entities must supply the information required to obtain "Verified" status on their linked WeExchange account before November 1, 2013. Any such users who fail to provide the necessary information will not be able to enter into or sell positions on the BitFunder website as of November 1, 2013.

Users will be able to withdraw holdings and Bitcoins from their BitFunder accounts before and after November 1, 2013.

All assets and issuers must demonstrate that they meet BitFunder's requirements for the listing of assets, or the assets and issuers will, at BitFunder's sole discretion, be denied access to, or removed from, the site. Issuers will be notified of any additional information needed to demonstrate compliance with BitFunder's requirements.

BitFunder appreciates your understanding in these matters as we move forward.

Sincerely,
BitFunder

Supplemental Notice (October 11, 2013)

As of October 8, 2013, BitFunder is not assessing any new fees against any user BitFunder knows to be a U.S. person and whose account will be restricted in accordance with BitFunder's October 8, 2013 notice.

Users who are U.S. persons or users who fail for any reason to provide the information necessary to obtain "Verified" status are encouraged to transfer their shares from the BitFunder site to the respective issuer(s) no later than December 1, 2013.

As of December 2, 2013, BitFunder will initiate a transfer from the BitFunder site to the respective issuer(s) of any remaining shares held by any users that BitFunder knows to be U.S. persons or who did not obtain "Verified" status by December 1, 2013, and will provide the issuer(s) with the public bitcoin address associated with the user account. After transfer, each user will need to work with the issuer(s) with respect to the future treatment of the shares.

On December 2, 2013, all bitcoin balances in the accounts of users that BitFunder knows to be U.S. persons and users that did not obtain "Verified" status by December 1 will be transferred to their linked WeExchange accounts.

As a UK citizen I don't believe that you have to do the following steps, but if you decide to, the tender process is below:

1) Make sure that you have full control over your public bitfunder address (specifically that you can sign with it)
2) Transfer your shares to AMC-TENDER
3) Go to the account history page (or whatever it's called) and take a screen shot of the transfer of shares. This will be back-up proof of how many shares you own/tendered
4) Do NOT lose control of the public bitfunder address as that's where I believe dividends are going to go

I've been away from the whole ActiveMining thing for a few weeks now as apparently there weren't any major developments planned until november, but now I'm seeing all this stuff about Bitfunder closing to USA citizens and having to transfer shares or something.

Can anyone sum up quickly what I need to do to keep ownership of my shares on Bitfunder? I'm actually a UK citizen but I can't seem to find a solid answer after skimming through the last few thread pages.

Cheers.

I would concur with both of these points. Salaries and all other company expenses would be good to know and frankly, the dividends right now are dust and not particularly useful to anyone whereas they could be used to order another wafer or maybe two, each of which should generate more income than the dust that went into it.



The dust is not contributing any real amount towards the 0.0025 per share, it's a classic case of "nickel now or quarter later"

^
Thats probably the dumbest idea i've ever heard...we would receive no mining dividends.




and in response to Ken- Fair enough, my only concern is that the .0025 wont be repaid back in a timely manner

I prefer 100% reinvestment in hardware , higher volumen , cheaper chips  ,higher asset value

The two need to go hand in hand. We need to reinvest to quickly grow to our maximum potential. More reinvestment = more divs. 50-50 seems a reasonable ratio at present.

Ken for the sake of openness will all staff remuneration be included in the upcoming accounts? No-one will begrudge you and staff earning a decent wage after the months of work but I'm sure everyone wants to know you are being frugal on the expenses side while the business is in it's very earliest stages of profit.

Yes, this is one of the cost in the offering description.


What we are trying to do is increase our mining and increase our dividends to our shareholders.

Will this "reserving for reinvestment" happen before the .0025 per share is paid out to shareholders?