Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 50. (Read 771280 times)

Ken - a few questions

1. does this projection mean that you will only be mining with the 55nm chips and not be selling them?
   1a. seems like selling the chips directly provides a quicker and larger return, and if that return is then turned into more chips... (you see where I am going with this)
2. you have the hardware costs at $1,338,000.  does this include boards, assembly, installation, etc (basically all the costs for producing a working miner), or just chips?
3. can we assume that you would be mining in a pool, or are there plans to solo mine?
   3a. if you are going to solo mine, do you already have software/server/etc setup to be able to do this?
4. you set the projection to start on May 1, 2014 for 1.292 PH.  do you expect to have all the chips, boards, facility, etc up and running at the beginning of May 2014 for everything?  Would June 2014 be "more" realistic date, or does it need to be pushed out further than that?
5. you have the electricity cost in as $0.022.  What are the other costs involved (initial startup costs, the monthly data center rental, etc)?
6. your projection shows essentially 1.7MW of power usage for those chips.  that takes into account the chip power usage only.  what are the additional projected power needs for all the other equipment?
7. not really a question - you left bitcoin price at 958 and the price rise at 10% monthly.  I personally think that the numbers should reflect the current market and assume no change in BTC price.  or have multiple "realities" were you run projections on $500 BTC, current price of BTC, and some higher priced BTC.

thanks.

To which I would respond:

"You want us to have faith in you to put an ASIC to market? Taking over 100 days for what a high school kid with a "For Dummies" manual could do really isn't instilling much faith."

I for one would rather NOT need to ask about the specific details of the farm, because I'd rather be in a situation where I can trust the abilities of Ken and his team. That I'm here asking about shares is because issues with them leave me with doubt towards the more basic competencies. That, and as anyone would tell you, there's no way of realizing a return on an investment if you can't even prove you own it.

I couldn't disagree more. This is crunching the key numbers, which is essential to the viability of any project. The fact that, as you've pointed out, there are other costs involved in such a project is hardly a revelation. I'm sure Ken is well aware that you have to pay rent on a premises and actually pay electrical installers etc - they don't work for free. But these one-off and on-going costs will not amount to 2.3Million dollars so if they haven't been factored in we will still make a huge profit. If they have been factored in the entire amount will go to shareholders.

Now I really despair when Ken updates us with  something like this and people say it's useless and unrealistic. Says who? What do you know anyway shaofis? I mean really, what do you know about Ken's premises plans or his electrical contractors? Absolutely nothing. If you are concerned about other expenses impacting on this profit line why not ask Ken if he can clarify? Why is your first reaction so dismissive? I'll tell you what if I were Ken and this is the reaction I got on here constantly, everyday, I wouldn't spend much time on here. Would you?

btw - you are right about the operational side of this project and I was about to post on that very topic.

Instead of constantly asking about your shares, if anyone wants to see any return on this investment, I suggest you start asking Ken about the work he is doing to make the farm a reality. Why is no-one asking Ken about the premises we will be using, the electrical installation work needing to be done, the assembly capacity we have, the boards, the engineering team we will be relying on? There is still a lot of work to do to make this farm operational and viable - chips are only half the battle. Stop asking about shares, start asking about the farm.

This sort of thing does more harm than good. It's not realistic and honestly paints a picture that you don't have a full operational plan.

Do you have a facility for the equipment? How many racks? How are you going to provide that much cooling? So many operational costs are just being ignored here that it either stinks of lack of planning or lack of appreciation for the challenges you are about to face.

I know you had a lot of major set backs with the chips; but with that under way it's time you give some focus to the operational side of things. Just claiming you'll have 1PH online after receiving the chips is just setting everyone up for yet another missed expectation.

If you have all of the necessary plans rather then posting some unrealistic calculators how about you share real information with those who have funded your operation.

Yeah, the cons are way classier than this forum...  

http://www.ecxs.net/index.php?q=aHR0cDovL2kuaW1ndXIuY29tL29ZVzhHRnMuanBn

^^Shops in fancy rich people stores that sell one underwear at a time.

https://bitcoin.org/en/events

Then of course there are smaller events all over the place. The conferences are nothing like these boards. Everyone there is looking to further their information, make connections, and be part of this quickly growing phenomenon that is Bitcoin. It's really sad what this forum has developed into.

I don't quite get why people are requesting some sort of alternative listing...

We are ALREADY listed. We have been since DECEMBER 5th. That's nearly two months now.

What I would like to see happen, and don't quite understand why it's been so impossible to do, is to just verify shareholders and get shares back in their hands. This is fucking absurd at this point.


Ken, you promised you'd START verifications in 7 days with your update. You reneged on that promise. Now it's "I don't see to many problems getting it running ASAP." Guess what? No one else can see why there are any problems getting it running either.


God danm man... all it seems to be is a simple site. You want us to have faith in you to put an ASIC to market? Taking over 100 days for what a high school kid with a "For Dummies" manual could do really isn't instilling much faith.

Ohh, I'm sure he meant the next few workdays... Chinese New Year an issue too?

Maybe he's just busy again, calculating our dividend payouts or something...

Ken, can we get something like this done? http://www1.agsexplorer.com/masterbook/btc

Agreed. Here is another example just in case you missed it:

Jesus guys, it's been a weekend.  Give it a couple of days.

Anyone with such paranoid distrust of others is unfit to manage a corporation.  Words like "manage" and "corporation" imply that more than one d00d is involved, so debating this is pointless.
From the alternative, there's no need to trust a coder hired to write a frickin' simple script.  Ken claims he can code, so he could surely audit (read) code.
The paranoia excuse is absurd.

I suggested to Ken that he should hire people;

But again no one here really has a clear and full assessment of Ken's workforce. Maybe he did hire some people. Apparently when whomever was the last person to visit the office said something along the lines of extra people there (some females). He has Engineers on the west coast?

One thing is for sure though, Ken doesn't trust other people handling the share situation. I believe he stated something along the lines of this back in November or December in IRC. The share situation is his job and his alone.

@JoTheKahn:
The hot new thing with multinational multimillion-dollar corporations - hiring people.

Maybe you should PM Ken?  Seems like it's something he might want to try...

Btw, the long and the short of it is: ACTM was supposed to be hashing in Oct/Nov conservatively Dec 2013. But instead we've endured a news blackout and a trade freeze all the while time is marching on.

That train has sailed and no amount of rubbing crystal balls is going to slow down or turn back the ever ascending difficulty level…

I'm not sure if you've noticed but in the Bitcoin Mining Ecosphere TIME is literally MONEY.

Anyway yeah, this particular venture FOR ME has turned into quite a costly hobby and another experience chalked up to learning.

If all pans out and ACTM actually does become profitable then hallelujah… At least, at this point, I haven't lost my shirt on this experiment.

now for you sensitive types out there; I'm sorry if this grinds your gonads but this is simply my opinion…

@Ken

It has been 3-4 Days since the day you specified shares will begin the liquidation process. If this is going to eat up any more of your time, just to set it up, then can you start the process manually instead?

"Strawman argument"?  I asked you if you have as much confidence in People's ASIC as you did in Terrahash.  That's a question, not an argument.
Care to answer?

Getting PM troll-berated by noobs. This is the kind of vile trash this thread inspires: