[ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 500.

PurpleTentacle

sr. member

Activity: 384

Merit: 250

Quote from: JoTheKhan on September 23, 2013, 03:28:40 AM

Is Ken aware of the situation with BTCT?

How are we handling this situation?

Are people just selling at a loss and then buying up on Bitfunder?

If possible I would like to see our Btct shares switched over to Bifunder, but I think that goes with out saying. Undecided

Ken is probably sleeping right now...

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: JoTheKhan on September 23, 2013, 03:28:40 AM

Are people just selling at a loss and then buying up on Bitfunder?

I am selling but not buying any at the moment, just want actual Bitcoins, this story does not end well.

JoTheKhan

sr. member

Activity: 378

Merit: 250

Is Ken aware of the situation with BTCT?

How are we handling this situation?

Are people just selling at a loss and then buying up on Bitfunder?

If possible I would like to see our Btct shares switched over to Bifunder, but I think that goes with out saying. Undecided

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: Puppet on September 23, 2013, 03:23:34 AM

what reason is there to believe bitfunder will not follow the same path as glbse and btct?

Damn.

Puppet

legendary

Activity: 980

Merit: 1040

what reason is there to believe bitfunder will not follow the same path as glbse and btct?
These company shares are contracts that are tradable "for value". In our case, that value happens to be expressed in bitcoins instead of dollars or oil, but that doesnt make them exempt from SEC regulation. Its already been established by SEC that bitcoins do have value, and bitcoin contracts are considered securities. Just ask Pirate. I argued this before the closure of glbse, but it seems that even after pirate, glbse, gigamining and now btct it still hasnt quite sunk in.

My advice: do what giga-vps did. Make these shares compliant with relevant laws regulating issuance and trade of securities. Its not so hard to comply and being compliant makes it whole lot more trustworthy.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: runam0k on September 23, 2013, 03:08:42 AM

Probably a good thing for those holding the traditionally cheaper shares on bitfunder. Not a good thing for those holding the traditionally higher priced shares on btc-tc. Angry

Well there are a few walls left to salvage some bitcoin, which is honestly the only secure investment at the moment. Actual fucking bitcoins.

runam0k

legendary

Activity: 1092

Merit: 1001

Touchdown

Probably a good thing for those holding the traditionally cheaper shares on bitfunder. Not a good thing for those holding the traditionally higher priced shares on btc-tc. Angry

byt411

hero member

Activity: 798

Merit: 1000

Yeah, please clarify.

funkymunky

sr. member

Activity: 283

Merit: 250

My take on this, is that it is entirely possible for Ken to transfer all Shares over to Bitfunder.
This is something I'm entirely sure he will have to do, and what I imagine every other Security will have to do.
There are too many shares and time involvement, I believe for him to turn this into a direct share like the AsicMiners ones.

I'm surprised at this announcement though.

Bitfunder is a good site, I personally prefer it over BTC-TC.

drawingthesun

legendary

Activity: 1176

Merit: 1015

We really need someone to call Ken up now to clarify, what's going on? Can we move over to bitfunder?

Yeah I am kind of panicking.

iCEBREAKER

legendary

Activity: 2156

Merit: 1072

Crypto is the separation of Power and State.

Quote from: drawingthesun on September 23, 2013, 02:32:53 AM

Ken please reply, are all BTCT.co shares moving to bitfunder? Please reply urgent

LOL, didn't volcaniceruptor waste $5 grand to move shares the other way?

that guy is almost as bad at investing as bargraphics and Stuart!

funkymunky

sr. member

Activity: 283

Merit: 250

FAO Ken and ALL BTC-TC Users
From BTC-TC:

Code:

Website Shutdown Announcement
IMPORTANT NOTICE TO ALL BTC TRADING CORP WEBSITE PARTICIPANTS

As a result of recent changes in the virtual currency regulatory environment, the btct.co and litecoinglobal.com virtual stock market websites will be closing down. The following is our current schedule:

Approximately a week ago, both sites were closed to any new users and new asset creation was disabled.

Effective immediately, in conjunction with this release, trading will be halted, all order books cleared, and trading re-enabled.

October 7, 2013, all forms of secondary market trading will be halted on both sites.

Approximately October 31, 2013, both sites will be taken offline. It is strongly suggested that participants take the following steps to protect all of their virtual assets:

All participants should take steps to transfer all of your BTC and LTC (and any other data you wish to keep, such as CSV trade histories) held on the sites to your personal computer or another trusted site.

All participants should make sure that their public BTC or LTC address is properly set in the Account page on the Settings tab whereby it can be shared with all issuers.

All “issuers” should have the contact information concerning their “investors”, and we ask that all “issuers” communicate with their “investors” as soon as possible as to how they will ensure that all are treated appropriately.
We regret this development. However, we want to do everything we can to minimize problems arising from this transition. It is our goal to keep this shutdown orderly and calm.

Thank you for your participation, creativity, loyalty and sense of community over the past year. Additional communications will follow as we work out the details.

Ethan Burnside
BTC Trading Corp.

Sou

full member

Activity: 210

Merit: 100

(Bitcoin related text here)

Quote from: drawingthesun on September 23, 2013, 02:32:53 AM

Ken please reply, are all BTCT.co shares moving to bitfunder? Please reply urgent

This seems like the most logical course of action.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Ken please reply, are all BTCT.co shares moving to bitfunder? Please reply urgent

lobbes

full member

Activity: 240

Merit: 101

What are the current pre-order sales on the 24.576 TH/s?

Are there plans to accept CC/Paypal?

Thank you

VolanicEruptor

sr. member

Activity: 392

Merit: 250

I'm not digging through months of posts to find it. Either believe me or don't. I'm sure some others will remember this quite clearly without needing me to dig it up.

kleeck

hero member

Activity: 532

Merit: 500

https://karatcoin.co

Quote from: VolanicEruptor on September 22, 2013, 02:41:11 PM

Quote from: somestranger on September 22, 2013, 02:28:54 PM

Quote from: EskimoBob on September 22, 2013, 10:02:34 AM

Following numbers are a bit worrisome:

Quote

and there is another August sales number : $330,000
I assume this is revenue
Revenue: 330000?
Cost of goods sold: 240031 ?
Profit: 89969?

This only a 27.26% gross margin or 37.48% Mark Up. I personally hope, this is some type of anomaly and official reports, Ken has promised to publish soon, will clear this up for good. If those are correct numbers, my calculations show that Gh cost is somewhere between 6-8 USD.
I hope I am wrong.

I think that the 27% is a net margin taking into account engineering costs, Ken's salary, employee salaries, fixed costs, etc. Otherwise it does seem quite low... $6-8/GH is really pricy and I doubt one chip is costing $100. I think $2/GH is more reasonable, but of course that is under NDA for now. It would be nice if Ken would take some time to answer the pertinent questions appearing in this thread, and also culling some of the bullshit posts from users such as Crumbs.

Ken said that $80k was cash in the pocket, while $330k were including sales from people who "haven't paid yet" (those were his exact words). So basically if someone filled out an order and abandoned it at the last second, he decided to count this for some reason. Apparently his accounting skills are really good because "one time in class he got the highest mark for an accounting project". Those were his exact words as well from one of his older posts. lol

This sounds like the kind of old crazy man who would need to wear a diaper he's so fucked..

Slow your roll champ. Link?

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: somestranger on September 22, 2013, 02:28:54 PM

Quote from: EskimoBob on September 22, 2013, 10:02:34 AM

Following numbers are a bit worrisome:

Quote

and there is another August sales number : $330,000
I assume this is revenue
Revenue: 330000?
Cost of goods sold: 240031 ?
Profit: 89969?

This only a 27.26% gross margin or 37.48% Mark Up. I personally hope, this is some type of anomaly and official reports, Ken has promised to publish soon, will clear this up for good. If those are correct numbers, my calculations show that Gh cost is somewhere between 6-8 USD.
I hope I am wrong.

I think that the 27% is a net margin taking into account engineering costs, Ken's salary, employee salaries, fixed costs, etc. Otherwise it does seem quite low... $6-8/GH is really pricy and I doubt one chip is costing $100. I think $2/GH is more reasonable, but of course that is under NDA for now. It would be nice if Ken would take some time to answer the pertinent questions appearing in this thread, and also culling some of the bullshit posts from users such as Crumbs.

Ken said that $80k was cash in the pocket, while $330k were including sales from people who "haven't paid yet" (those were his exact words). So basically if someone filled out an order and abandoned it at the last second, he decided to count this for some reason. Apparently his accounting skills are really good because "one time in class he got the highest mark for an accounting project". Those were his exact words as well from one of his older posts. lol

This sounds like the kind of old crazy man who would need to wear a diaper he's so fucked..

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: EskimoBob on September 22, 2013, 02:12:39 PM

VolanicEruptor, get your terminology straight, so you can start making sense. Kiss

Ken, as you can see, this thread is getting out of control again.

You obviously made a fool of yourself because you couldn't understand how I came up with 3.25 million dollars needed for profit.
If it makes you feel better to try to turn the tables, then all the power to you...everyone else witnessed what actually happened

Sou

full member

Activity: 210

Merit: 100

(Bitcoin related text here)

Anyone have a guess what week it's at right now in the 9 weeks to sample chips?

Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 500. (Read 771288 times)