Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 421. (Read 771288 times)

I'll be honest I don't know a thing about stocks....

If the shares issued by ActiveMining are not actual ownership shares of the company... why is it that the SEC would care? I thought the shares granted only a return on the bitcoin mined by the organization as well as a portion of sales. I'm curious if there is a distinction between partial ownership and just getting a bitcoin disbursement.

It's probably to late now... but if there is a difference... perhaps calling it something other than a security or a stock might be a good idea?

Wow Puppet. Was is it with you, and the SEC? Weeks of it, everywhere. Why the fear?

No one picks up on this? SEC going not only after exchanges, but asset issuers .
Ken, do you have any insights on your own legal liability? Would the SEC consider it the exchange fault for targeting unsophisticated (US) investors, or yours too?

I disagree. There are only two days left before Ken reaches the end of October deadline.  He has to submit the P&L statement and balance sheet before the start of November otherwise he damages his reputation in my opinion.

Ken's credibility and ActiveMining's credibility are really in limbo until November. Once we start chewing through November Ken's reaction to eASIC or lack of eASIC chips will determine his character and resolve.

Until eASIC make their move Ken cannot show his colors.

finfloss, your garbled post is very difficult to understand.  Might I request you re-submit or edit it so it becomes clearer.  Perhaps you could punctuate it and reduce the wall of text into clear and concise points you wish addressing.  Also, if you are going to criticize others methods, please stop contradicting yourself by following suit.




Might I remind you that a person's credibility is not based solely on their propensity to reveal commercially sensitive information.   Remember 'Loose lips sink ships'.

While most would agree, Ken has not been forthcoming with information and has been selective in which questions he answers, however he shows up on this forum regularly to do more than delete posts.  He is also very good at replying to pm's.  So why not give it a try, pm Ken with valid questions and report back to us his responses rather than attacking his character and general mud slinging.

his speculation is based on no information from Ken.  your speculation as i understand it from your posts (that everything will be just fine and we will be hashing with machines as soon as next month) is based on your wish/hope/trust/faith/etc, not any real information or proof.  we really have almost 0 info here.  if you cant see and admit that then i hate to see what else you are lying to yourself about. 

this isnt mindless FUD being spread.  we can only go off real information and proof, and because Ken cant/wont tell us any concrete info we have to go off what we know from what he's told us and other real world experience.  lets say we base how this will go on how other companies (BFL, KNC, Avalon, etc) products have turned out:
 1. they ARE delivering product (a LOT of it) but it's significantly past original projection
     - we have no product, no information about even just the sample chips, and we have no projection details about when we will have product
 2. they have missed or will miss their deadlines, but at least they are communicating with their clients (even if it's BFL's infamous 2-weeks).
    - we have no communication about being close to deadlines, no pictures, no PR, no mention or proof of additional staff with them posting in this thread (or anywhere in the forum)
 3. if they have shipped they have had some reports of problems with their product both before and after shipping
    - we HAVE to expect to have time to work out bugs and issues - ie delays to the very tight timelines he gave us.  even if we say two-weeks extra (© BFL)

now tell me what is so awesome about Ken or ACtM that will prevent them from having these problems?  what information do we have as to the status of chips, status of boards to put those chips in, status of other hardware needed to run these boards (power supplies, cases, cables, etc), status of production line capabilities, status of staff, status of ANYTHING important (other than the all important share transfers)?  you CANT be so blind to these issues.  I just cant believe you choose to ignore all these MAJOR holes in the plan.  you cant have a book that has a page 1 and then skips all the way to page 250.  nothing works that way.

Ken - great news on the Klondikes, except for this: the extra $75/day TOTAL (USD value of 0.43BTC/day minus expenses) is hardly worth talking about when we want to know about the potential TENS/HUNDREDS of thousands from sales/mining of this chip under development, especially when you take into account that that daily mining amount goes down every 10 days or so by 33-40%.


where is Ken's credibility?  has he shown/given you all the answers to these questions we've been asking? 


so KEN, we know you are working hard as we've heard that a lot.  we know you have had several requests by several different shareholders for more info.  we know you read EVERY post (as proven by my many deleted posts).  we know you are choosing to say nothing substantial.  here's yet one more chance to change that.  instead of taking ANY more time to delete ANY posts, take 10 min and answer the questions that have been asked you many times.  Hell, pick 1 major question and give a good answer.  spend 10 min a day and answer one question, and not with a 1 word answer.  i think most visitors to this thread believe you are intelligent, so show us a little more detail.  or if you have no real details then tell everyone that so speculators can stop speculating and FUDsters can go pick another thread to spread FUD.  below are just some of the many posts that you could choose to give us some kind of substantial response to.

https://bitcointalksearch.org/topic/m.3403165
https://bitcointalksearch.org/topic/m.3397789 (except for the Klondike status)
https://bitcointalksearch.org/topic/m.3373314
https://bitcointalksearch.org/topic/m.3370055
https://bitcointalksearch.org/topic/m.3353861
https://bitcointalksearch.org/topic/m.3430112 (specifics on what you are currently doing)

Transfer to AMC-TENDER completed. Here's hoping we don't have to deal with anymore nonsense from third party companies.

OK thanks for that Ken. I understand the pricing issue.

We will be releasing some updates this next month.

We would love to give our shareholder special prices on rigs and may in the future; however, in this very competitive environment margins are very tight.

Ken, just wondering if you can help on this one - are VMC going to be giving 'updates' about when they get the first test chips or will the first news we hear be when mining rigs start getting shipped?

Just wondering if there will be a 'we are shipping' release out of the blue one day or we will hear 'updates' leading up to that release?

Also is VMC offering a shareholder price on rigs or do we need to pay retail price?

Yes, we are on there radar, as they have talked to Ukto about us last month.  I sent Ukto our Belize documents so he could send them to the SEC.

Edit:  Ukto never sent the documents to the SEC.

Cool. Any news when the new exchange will go live? Is that what the transfer deadline is about? I would also love an update on chips but that is probably futile.

Thanks for the update.

We're probably not yet on their radar, but I don't see the SEC as being our friends here. Unless they come up with some new, more relaxed regulations then they are going to suffocate the Bitcoin securities market because of a high cost of compliance.

We are hoping tomorrow, if everything works as expected.

Cool, when are they expected to be fully operational?

All of our Klondikes have been received and we are in the process of getting them up and hashing.

We expect that each Klondike will hash at ~5 GH/s for a total of ~340 GH/s increasing our total hashing power to ~770 GH/s.

Of course, this is not what we expected by this time to be hashing after we ordered 20,000 Avalon chips @ 5.64 TH/s which did not arrive at the stated time and had to be refunded.

Sounds good to me.  I may need the (unfortunately poor) liquidity of having shares tradeable on BitFunder. I do look forward to seeing what will come with your coloured coin solution though. Until then, BitFunder it shall be...

Non-US residents that have been verified will be able to trade our shares on Bitfunder.  I have not heard any different from Ukto the operator of Bitfunder.

Dividends will be paid on Bitfunder, just like they have been paid before thru the end of the year.