Author

Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 463. (Read 771288 times)

hero member
Activity: 532
Merit: 500
https://karatcoin.co
It's just been removed.

That was a quick result but people this is the danger when you humour or respond to Trolls on here. We know who we are talking about, the more you talk to them the bigger their interest in this company and the more likely they are to follow our interests outside of this forum.

That single 'scammer alert' post on Bloomberg could have cost ACtM 500k in orders possible a lot more. That's because that sort or article opens the door to a whole new set of very wealthy investors who have so far not delved into the BTC market. When they see 4 companies selling mining machines and just one of them is slated in the comments as scammers with a host of invented 'red flags' mentioned the investors won't even visit the VMC website - they will go straight to the competition.



I wouldn't worry too much about the comments - all crypto currency articles generate negative scam/ponzi scheme comments and only time will change that. There just aren't a lot of knowledgeable people and I feel like I read at least 2-3 comments a day on every bitcoin related article exactly like this. We just have to rely upon the moderation systems (and us noticing and flagging comments).

examples:
"p-reid • 6 hours ago
"Virtual Mining’s Slaughter said the sooner people start mining, the more likely they are to make a return on their investment"
The modern day pyramid scheme!!! Just like its predecessors, the first in will get rich and the last screwed. There is another dipshitttt born every second, so you might as well."

"Benny Blanco • 7 hours ago −
only a fool would buy into this ponzi scheme---think people---i buy a bit coin for $20 a couple years ago , now its $135 and i want to cashout--- wheres the extra $115 coming from?Huh?--- the most recent fools who buy into this charade--- it should be outlawed and the people involved thrown into the gulag!!!"

Sigh. Morons


I've had the ponzi argument via public forum on multiple occasions. It comes down to people not knowing what a ponzi scheme is. Early adopters profiting more than late comers =/= ponzi scheme.
legendary
Activity: 1442
Merit: 1001
It's just been removed.

That was a quick result but people this is the danger when you humour or respond to Trolls on here. We know who we are talking about, the more you talk to them the bigger their interest in this company and the more likely they are to follow our interests outside of this forum.

That single 'scammer alert' post on Bloomberg could have cost ACtM 500k in orders possible a lot more. That's because that sort or article opens the door to a whole new set of very wealthy investors who have so far not delved into the BTC market. When they see 4 companies selling mining machines and just one of them is slated in the comments as scammers with a host of invented 'red flags' mentioned the investors won't even visit the VMC website - they will go straight to the competition.



I wouldn't worry too much about the comments - all crypto currency articles generate negative scam/ponzi scheme comments and only time will change that. There just aren't a lot of knowledgeable people and I feel like I read at least 2-3 comments a day on every bitcoin related article exactly like this. We just have to rely upon the moderation systems (and us noticing and flagging comments).

examples:
"p-reid • 6 hours ago
"Virtual Mining’s Slaughter said the sooner people start mining, the more likely they are to make a return on their investment"
The modern day pyramid scheme!!! Just like its predecessors, the first in will get rich and the last screwed. There is another dipshitttt born every second, so you might as well."

"Benny Blanco • 7 hours ago −
only a fool would buy into this ponzi scheme---think people---i buy a bit coin for $20 a couple years ago , now its $135 and i want to cashout--- wheres the extra $115 coming from?Huh?--- the most recent fools who buy into this charade--- it should be outlawed and the people involved thrown into the gulag!!!"

Sigh. Morons
sr. member
Activity: 280
Merit: 250
IIIIII====II====IIIIII
It's just been removed.

That was a quick result but people this is the danger when you humour or respond to Trolls on here. We know who we are talking about, the more you talk to them the bigger their interest in this company and the more likely they are to follow our interests outside of this forum.

That single 'scammer alert' post on Bloomberg could have cost ACtM 500k in orders possible a lot more. That's because that sort or article opens the door to a whole new set of very wealthy investors who have so far not delved into the BTC market. When they see 4 companies selling mining machines and just one of them is slated in the comments as scammers with a host of invented 'red flags' mentioned the investors won't even visit the VMC website - they will go straight to the competition.

sr. member
Activity: 280
Merit: 250
IIIIII====II====IIIIII
Oh dear, some Troll has put a reply on the Bloomberg site saying VMC is a scam and listing a host of 'red flags' which are either purely subjective or 100% fiction. Who is the known scammer who acts as company rep?? I flagged the comment, others should too it might get taken down.
member
Activity: 111
Merit: 10

Personally, I find the site confusing. I am not sure which case and which option goes together.

Even though BFL has and had all sorts of delivery problems, their website was clear and simple and comprehensible.

As long as people with money understand the site and preorder or buy, that is all that is important to me. I would walk away from the site, though, even with it current design.



Yeah, I find it a little confusing too for the same reason. I figured that people that do a lot of mining would know what to buy. It's not exactly the most friendly to new miners, but then again, neither is the current mining environment.
legendary
Activity: 1218
Merit: 1000
So there will be an escrow system, but will there be an easy way to receive and place bids besides on bitcointalk?



Maybe a third party website designed by someone not related to Activemining Corp. could be developed (I dont know code but just a suggestion)
hero member
Activity: 658
Merit: 500
decentralize EVERYTHING...
So what about the US share holders? Are we still just waiting for what we should do?


Short Term Solution/Long Term Solution
newbie
Activity: 54
Merit: 0
So what about the US share holders? Are we still just waiting for what we should do?
sr. member
Activity: 335
Merit: 250
Yup! It says shipping starts in November 2013.

http://virtualminingcorp.com/shop1/index.php?id_product=23&controller=product#/fh_exp_case_16_pcie_slots-6_expansions_cases/fh_256ghs_expansion_a-24_576_th_s_19_200_watts/fh_256ghs_module_a-1_536th_1_400_watts

Personally, I find the site confusing. I am not sure which case and which option goes together.

Even though BFL has and had all sorts of delivery problems, their website was clear and simple and comprehensible.

As long as people with money understand the site and preorder or buy, that is all that is important to me. I would walk away from the site, though, even with it current design.

Has anyone seen the website recently? Maybe this was already known, but it got updated and looks much better now and you can actually see that you can pay with BTC. Golly wolly.

http://www.virtualminingcorp.com/

EDIT: Well, at least the homepage got updated. Anyways looks pretty good, hope the rest will look as slick soon.

member
Activity: 111
Merit: 10
Has anyone seen the website recently? Maybe this was already known, but it got updated and looks much better now and you can actually see that you can pay with BTC. Golly wolly.

http://www.virtualminingcorp.com/

EDIT: Well, at least the homepage got updated. Anyways looks pretty good, hope the rest will look as slick soon.
member
Activity: 114
Merit: 10
Is there an expected date/milestone as to when the NDA will be lifted?

Basically, we don't get to hear anything about eASIC's process due to NDA:

eASIC's Nexteme-3 is not released, so we are still under NDA.  Only thing we can say about it, is what is in the Press Release.

Has eASIC given a time frame for when this NDA will be put to rest?

It never will be; however, when they release their products on their website, then we can talk about them.

However, we should get to hear about the VMC's chips/products when they arrive.



In short, "it's not ready yet".. http://www.youtube.com/watch?v=w-x8nh949JQ
member
Activity: 63
Merit: 10
Is there an expected date/milestone as to when the NDA will be lifted?
full member
Activity: 210
Merit: 100
... Maybe ActM even is able to hold more than 1% of network hashrate. 1% is 17TH at the moment. And that amount is rising 20-30% each 2 weeks. So keeping a certain percentage is hard. Even Asicminer has to struggle. Though thats all very speculative.

1% is about 24, not 17TH/sec.  The difficulty is also climbing quite a bit faster than 20-30%, so double that.  And ActM certainly won't be mining at today's difficulty -- the difficulty is not waiting for Ken to start hashing, it keeps rising regardless.
The little errors make your calculations as optimistic as the notion that plummeting share price is irrelevant.
member
Activity: 114
Merit: 10
From the previous thread:

The network will mine BTC1,314,000/year (1 block solved every 10 minutes with a reward of BTC25) until the reward halves in 2016 (also a leap year).

To make annual return with dividends alone, the public investor's protection plan should succeed within one year (see page 1):

= 10,000,000 shares × BTC0.0025/share = BTC25,000 in dividends

From a yearly perspective, meeting just one of these goals would achieve this:

- average 1.9% of the network for a year (by mining BTC25,000 out of the available BTC1,314,000)
- average $250,000/month in hardware sales profit (BTC25,000 × $120 ∕ 12 months)

ActM has incentive to quickly meet a combined version of the above goals if they are to share in profits.
sr. member
Activity: 280
Merit: 250
IIIIII====II====IIIIII
Lets say 5% of total Hash and BTC at $250 which I think is more reasonable for around Jan 2014.

360x250=90,000USD per day

Lets say only 50k is pure profit (electric costs etc)
So it would be 20days to make 1Mil USD from mining
Website should also be making approx 1Mill USD every 30 days.
So in that case around 40days to make 3.5Mill USD.

Ofcourse BTC could be higher in Jan and % of total Hashing could be lower or visa versa - and Utility costs could be lower.
hero member
Activity: 518
Merit: 500
Every man is guilty of all the good he did not do.
Without knowing the die size of ActM's chips it will be hard to know just how many chips per Wafer.

We have no idea how many wafers were ordered.

This all being said, ActM only need ~65,000 chips to mine at a Petahash if their chips are 16GH/s

That honestly isn't that much considering ASICMiner must be using at least 100,000 of their chips to mine with and they consume much more power than these will.

If ActM does have a working chip at 16GH/s then I suspect we will be fine. Since eASIC is doing the work to make sure this chips is working I have little doubt that the chip won't be working.

The high estimates I've heard from some of the larger players in the mining game is 30PH come the end of February. That would still be a little over 3% of the network even then not to mention all the sales that they will have advertising an actual working product.
legendary
Activity: 2674
Merit: 1083
Legendary Escrow Service - Tip Jar in Profile
Some back-of-the-napkin calculations show that Actm needs about $3.5M in profits in order to pay back 0.0025 BTC/Share to the first 10M shares.

Are there any estimates based on other operations such as AsicMiner as to how long this may take when taking into account Sales/Mining?



Asicminer is not near to Activemining to be able to compare. Asicminer was nearly alone in a time of way lower difficulty. Activemining will have a harder stand here.

That's true; I was wondering about calculations such as if Actm controlled X% of total hashing, its daily BTC would be Y BTC, or something to that extent.

EDIT:  With at least realistic/expected numbers

Realistic is a bit complicated. 7200BTC per day. I dont have a clue what percentage ActM could get since there is much competition. Lets say 1%. Thats 72BTC per day. $140 per BTC means $3.5M are 25000BTC. Means 347 days to reach by mining. They already sold for over 1M and probably at least half of it is profit so the time will be less. Maybe ActM even is able to hold more than 1% of network hashrate. 1% is 17TH at the moment. And that amount is rising 20-30% each 2 weeks. So keeping a certain percentage is hard. Even Asicminer has to struggle. Though thats all very speculative.
Jump to: