[ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 445.

Nootnewbie

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Activity: 63

Merit: 10

Quote from: somestranger on October 21, 2013, 11:03:14 PM

Quote from: Nootnewbie on October 21, 2013, 10:50:09 PM

What is ActiveMining's policy towards customers who pre-ordered miners that are predicted to have a negative ROI? I'm thinking of throwing some money down on a miner now that BTC is way up....

There is no "insurance policy" if that's what you're asking. If it will have a negative ROI in your calculations then don't order. Less orders just means the ActM Batcave will have more hash power for itself.

Oh ok, I just thought I heard somewhere (maybe his interview?) that he was planning on something like an "insurance policy" like giving extra hashing power or something.

wasubii

sr. member

Activity: 448

Merit: 250

Quote from: knybe on October 21, 2013, 12:54:51 PM

Quote from: VolanicEruptor on October 21, 2013, 12:51:24 PM

Quote from: neilol on October 21, 2013, 12:46:26 PM

Quote from: jrodder on October 21, 2013, 12:42:46 PM

Quote from: kslaughter on October 21, 2013, 11:31:47 AM

Quote from: Nootnewbie on October 21, 2013, 11:26:10 AM

Ken,

Can you verify what U.S. Bitfunder users need to do to be sure that their shares preserved? Do we need to be sure our public bitcoin address is one where we can sign? For example, a non-CoinBase address?

Yes, you need to have a public Bitcoin address that you can sign, so that we can verify the number of shares you own from the Bitfunder Asset List.

If I run my wallet on my local machine, is that not good enough? I have shares currently on bitfunder, US customer.

It is scary when you have people in here investing in super risky mining securities who don't really have a grasp of how the blockchain and bitcoin protocol works in general.

maybe he only has 25 dollars worth of shares, in which case I don't see what's wrong with investing in something you don't completely understand

Patience, old dogs... teach don't spurn.

It's all part of the learning process.

The more using Bitcoin, the merrier.

+1

4ju5tice

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Activity: 111

Merit: 10

Quote from: Nootnewbie on October 21, 2013, 10:50:09 PM

What is ActiveMining's policy towards customers who pre-ordered miners that are predicted to have a negative ROI? I'm thinking of throwing some money down on a miner now that BTC is way up....

Here's the thing. It's a bet on whether or not you think that the difficulty increase is going to be 100+% compounded monthly. There's got to be a stopping point to the difficulty growth. The genesis block measures it at an extremely high increase over time. Maybe that's realistic but since we've hit the best asic technology that will exist for a while, I think we'll stay within the same order of magnitude for some time. I expect that we will see the difficulty levels flatten out. With that in mind, the calculator becomes negligible in the current environment. Maybe I'm making some bad assumptions and I welcome friendly discussion, but I think that mining will still continue to be profitable, especially with the btc value constantly increasing.

This is a liquid free world-wide market that can't be controlled. The world has never seen anything like this before. Don't be surprised if crazy shit happens.

somestranger

hero member

Activity: 487

Merit: 500

Are You Shpongled?

Quote from: Nootnewbie on October 21, 2013, 10:50:09 PM

What is ActiveMining's policy towards customers who pre-ordered miners that are predicted to have a negative ROI? I'm thinking of throwing some money down on a miner now that BTC is way up....

There is no "insurance policy" if that's what you're asking. If it will have a negative ROI in your calculations then don't order. Less orders just means the ActM Batcave will have more hash power for itself.

Nootnewbie

member

Activity: 63

Merit: 10

What is ActiveMining's policy towards customers who pre-ordered miners that are predicted to have a negative ROI? I'm thinking of throwing some money down on a miner now that BTC is way up....

4ju5tice

member

Activity: 111

Merit: 10

It may have been this way for a while, but the big walls are gone on Bitfunder.

Effayy

member

Activity: 75

Merit: 10

Quote from: knybe on October 21, 2013, 07:15:59 PM

please?

Oh come now. I only pop up once every 20 pages, I say something that is heads and tails more polite than the rest of you do to crumbs, and *I* get the don't feed the trolls speech?

knybe

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Activity: 658

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decentralize EVERYTHING...

please?

Effayy

member

Activity: 75

Merit: 10

Quote from: ?? on ??

Quote from: Nootnewbie on October 21, 2013, 06:28:04 PM

So I know everything is currently under NDA still. That being said, does anybody have an idea of where we are in the current timeline?
...

Up s__t creek w_th_ut a pa_dle.

Would you like buy a vowel or are you ready to solve now?

In your example, the H would already be uncovered since it appears in the word "without". Also, the D in paddle would be uncovered because of the d right beside it.

A for effort, but try to get it right next time. Wink

Nootnewbie

member

Activity: 63

Merit: 10

So I know everything is currently under NDA still. That being said, does anybody have an idea of where we are in the current timeline?

Ken says he'll order the first batch once he knows the prototypes work. I assume this means that the samples have not been delivered yet or they have been delivered and testing is still commencing.

Best case scenario, when do we begin hashing? When are miners shipped? Are we expecting more $$ to come from hashing or sales?

jrodder

copper member

Activity: 23

Merit: 0

Quote from: neilol on October 21, 2013, 01:53:47 PM

Quote from: jrodder on October 21, 2013, 01:19:17 PM

Quote from: knybe on October 21, 2013, 12:54:51 PM

Quote from: VolanicEruptor on October 21, 2013, 12:51:24 PM

Quote from: neilol on October 21, 2013, 12:46:26 PM

Quote from: jrodder on October 21, 2013, 12:42:46 PM

Quote from: kslaughter on October 21, 2013, 11:31:47 AM

Quote from: Nootnewbie on October 21, 2013, 11:26:10 AM

Ken,

Can you verify what U.S. Bitfunder users need to do to be sure that their shares preserved? Do we need to be sure our public bitcoin address is one where we can sign? For example, a non-CoinBase address?

Yes, you need to have a public Bitcoin address that you can sign, so that we can verify the number of shares you own from the Bitfunder Asset List.

If I run my wallet on my local machine, is that not good enough? I have shares currently on bitfunder, US customer.

It is scary when you have people in here investing in super risky mining securities who don't really have a grasp of how the blockchain and bitcoin protocol works in general.

maybe he only has 25 dollars worth of shares, in which case I don't see what's wrong with investing in something you don't completely understand

Patience, old dogs... teach don't spurn.

It's all part of the learning process.

The more using Bitcoin, the merrier.

Heh. I am a network/systems admin by trade. I simply don't have enough time in the day to know the intricacies of everything I deal with on a day to day basis. I haven't given enough study to this particular facet of the blockchain, no. The last few posts were helpful. If I cared about what people thought about me before asking a question, I suppose I could have eventually found the answer myself. Instead I asked for help from people that *do* have the invested knowledge, and were willing to give me a few minutes of time to post a reply. I thank you for that.

I came off harsh, there's nothing wrong with not knowing how all this works, and even less wrong with asking. I just personally think you are adding an unnecessary layer of risk investing BEFORE you get to do the research. But hey if its an inconsequential amount of money to you, you could view it as tuition if something goes south you otherwise would have seen. You sure as hell would learn how to sign a message if it meant you were going to lose all your shares

Indeed. More to the point, I didn't really keep up in the forums as to what was needed from me as an investor in order to keep my shares active. Initially I was thinking I would have to transfer shares to someone I trust that isn't in the US.

So as long as I have a public address, and am using Bitcoin-QT (currently in linux) I should be prepared for the coming change? Is there somewhere I can read a synopsis?

somestranger

hero member

Activity: 487

Merit: 500

Are You Shpongled?

Quote from: 4ju5tice on October 21, 2013, 05:53:59 AM

Unfortunately that's what we're working with. Ken is aware of that issue just as much as anyone else. It's just a matter of time before the same problem happens, but you've got to admit that bitfunder and btct were the big dogs, easier to find. Ken's just buying some more time, that's all that can be done. He's ambitiously working on a more viable alternative, whether it's color coins or ripple based.

If the transfer of shares is going to scare you, you might want to sell. If not, with the rise of BTC value, the mining ROI is increasing which can only help ACTM.

There won't be any market trading until colored coins are implemented, so I don't see it getting shut down. If anyone gets colored coins working in production then the other exchanges would follow closely... after all it is open source if it's going to use the Bitcoin blockchain (unless AM came up with a whole new coin, but colored coins certainly seem like a better idea). I think theoretically this would also allow shares to be moved from one exchange to another and enable efficient arbitrage that was impossible with BTC-TC and Bitfunder's centralized approach.

redbeans2012

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Activity: 887

Merit: 1000

Quote from: neilol on October 21, 2013, 12:46:26 PM

Quote from: jrodder on October 21, 2013, 12:42:46 PM

Quote from: kslaughter on October 21, 2013, 11:31:47 AM

Quote from: Nootnewbie on October 21, 2013, 11:26:10 AM

Ken,

Can you verify what U.S. Bitfunder users need to do to be sure that their shares preserved? Do we need to be sure our public bitcoin address is one where we can sign? For example, a non-CoinBase address?

Yes, you need to have a public Bitcoin address that you can sign, so that we can verify the number of shares you own from the Bitfunder Asset List.

If I run my wallet on my local machine, is that not good enough? I have shares currently on bitfunder, US customer.

It is scary when you have people in here investing in super risky mining securities who don't really have a grasp of how the blockchain and bitcoin protocol works in general.

One doesn't need to understand the full workings of the internet if they want to invest in google, or how an iphone works if they want to invest in apple.

neilol

sr. member

Activity: 302