Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 502. (Read 771574 times)

10,000,000 * 0.0025 = 25,000BTC (about 3.25 million dollars needed to pay off IPO investment).
The shitty thing, is I don't think Ken cares if he comes close to that number.  As long has he has "some" sales, then he gets to pay himself a salary with our funds to keep himself busy.  Even though its under contract that he pay .0025 to us first, he still gets his own salary, as this is part of what he refers to as "engineering costs".  

The only way I see this turning around is if we can get a big buyer.  If someone gets a hard-on for these VMC machines when they come out, they might decide to drop a couple million on a new mining farm with VMC only, maybe even with the help of an IPO.  This unfortunately won't happen until we actually have something.  This means Ken has to get some machines built with NO DELAY so he can demonstrate its hash power.  From that point, delays from competitors would only be icing on the cake. 

Well he's in a place where whatever he does, a proportion of everyone will think it was wrong. Then also there's a lot of Monday morning quarterbacking and playing "Captain Hindsight"

I think AMC is in a fairly strong position for the long haul, and as has been said, low share price is gravy for long haulers, they can take advantage.

I really do doubt that. The current share price has NO effect whatsoever on the future profitability of this company. Share price means nothing at this time in the companys evolution. ACtM is as strong today as it has always been - no change.

In essence:

INVESTORS
Share price > effects investors, makes them sad, panic, sell, cry.

COMPANY
Share price > does not effect in any way the future success of ACtM.

If share price goes to 0.0001 today or 0.1 today the future ACtM business profits and divs will be the same.

The only ones going through 'difficult' times right now are the over-invested worried about loosing it all, those wanting to flip but can't because they bought above current price, those who believe the FUD and don't see a profitable future anymore and do/don't want to sell at this price.

The company itself is having an incredible period right now - eASIC deal confirmed with excellent chip produced, 400% increase in online pre-orders.

Look at what this hugely successful North American tech firm which has a basketful of testimonials from the biggest tech firms on the planet (eASIC) has to say about ACtM.

"VMC has used its vast cryptographic algorithm experience to take full advantage of the advanced performance and power reduction features in our eASIC Nextreme-3 28nm architecture", said Jasbinder Bhoot, VP of Marketing at eASIC. "This has allowed VMC to architect a very high performance Bitcoin miner, while reducing overall power consumption", added Bhoot.
http://www.easic.com/vmc-uses-easic-to-achieve-24-756-ths-bitcoin-miner/

What more are you people looking for? I really think a lot of sellers/liquidators should look again at what eASIC bring to the table and have a serious think about where this company will be in 2months time. I'm not going to beg anyone to get back into ACtM - it doesn't bother me in the slightest, I'm buying a few k more every week and this low price suits me down to the ground. But it seems a real shame that seemingly rationale people are being so down right now. Again, share price means nothing, (especially in this thin market) get over it and look at the long term potential.

Who is doing the PCB and software ? How far along is that?

thing is, I dont know Ken, but he doesnt seem to be regarded too highly by many. So be it, more important i think is that we have little reason to doubt e-asic's ability to design and produce working chip in a timely fashion. Thats at least 70% of the risk right there. What remains is mostly an ability to turn working chips in to working miners (yes Im ignoring product sales). Any reassurance on that front would go a long way making this look at the very least as a plausibly profitable venture, just by self mining at hardware cost. Hardware sales would be icing on the cake. Dont get me wrong, very sweet icing that I dont want to see ignored.

...but *you* take full responsibility, and that's why Ken should listen to *you*

About Advisory Board and advisers:

I kinda understand, why Advisory Board was getting on Ken's nerves. AB takes no actual responsibility and never executes plans they come up with. Usually, they just talk and tell you what to do. And this is it - thy are useless.
Hire (not for cash/salary but for a option to buy shares below market) to a qualified management (Sales, Production etc) who must come up with a plan, take full responsibility and execute it with a measurable results. What is measured, must be set before works starts.

PS! In startups, do not hire management types who ask for a fat salary. They will bleed you dry and then walk away.  Minimum salary and options is the only way to do it. If you manager tells you, he can not survive for 3-6 months with out a fat paycheck, he/she is useless for you.

Ken, I remember you guys promised proper financial reports.
Can you give us a date, when we can expect it. Please include proper balance sheet with Assets, Liabilities, Shareholders Equity etc.
If your accountant (and/or accounting software) can not compile a proper balance sheet, please fire her at once. With out balance sheet, we nor you can not evaluate Actm and make any sane predictions for the future. Obviously we like to see all the missing reports (PL,CF) for previous months.

It was asked before: "How many Gh are you planning to bring online and at what date and cost"
Please make a schedule (estimates) for November, Dec, Jan, Feb

Something like this will do:

Nov 2013 Gh online:
Dec 2013 Gh online:
Jan 2014 Gh online:
Feb 2014 Gh online:

Average cost per Gh:  <- without this number, Gh are are close to meaningless.
 
Cheers!

While there is a very obvious and real lack of confidence in Ken's abilities, I think theres only one question that we all need to understand......

Ken..... is anyone else, other than you, ever going to make decisions for this company?

+1

That's an interesting question. If this information is under NDA then maybe Ken could give us at least a vague percentage of the product price. Will be about half of it or a third?

Ken,

I understand there are many pieces of information you can't and or don't want to release to share holders, but can you give any insight on the $/GH that ActM will be paying for it's own in house mining?

Thanks

Volcanic Eruptor has a colourful history of trolling the ActM/AMC threads prior to becoming a fan boy.

And anyway, why is he still here?  I thought he rage quitted yesterday and sold all his shares after making a classic error by allowing his emotions to make investment decisions.

We are undoubtedly going through some difficult times at the moment and I think key decisions that only Ken can make will decide the direction and ultimately the long term success of this company.  I sincerely hope that he listens to what people are saying and I'd like to ask him if he could explain his reasoning behind rejecting the recommendation to overhaul the website and also if he accepts that numbers for pre-sales are way below target and a drastic re-think in strategy is essential to save this company.  One of the biggest issues is that there is almost zero confidence from shareholders at present and if you can't convince them, then the chances of convincing potential buyers are very unlikely.  Take a look at the VMC - FAST HASH thread that Volcanic Eruptor started and it will become all too clear.  The payment method needs addressing and we are leaking pre-orders.

https://bitcointalksearch.org/topic/vmc-fast-hash-6gh-296565

Perhaps Ken could compile a list of issues raised in this thread so far and have a go at responding to them in a Q & A type format.  Even if responses to some points are short, I'm sure shareholders would be extremely pleased to see such an effort and perhaps it might go some way in turning around our misfortunes.

All said and done, I do believe in this company and have been in since the 0.0005 IPO and am holding firm.  

Ken,

Glad to see you back on the forum responding to questions. For me it was too late though. I've met you and the rest of your team too. I talked with you for a couple hours and saw your excitement just prior to the eASIC announcement. I looked you in the eye and trusted you. I probably know you more than most of your investors. At one time I was one of the top five shareholders (on BF at least). It seemed like as soon as you got the NRE there was no need to keep people informed--and NDA was a poor excuse. The only time you spoke up was just after whales dumped shares. I knew ActM was not a scam, but I could not explain the silence. Watching the stress on the forum was irritating. AM hadn't given updates that I'd ever read and that was fine because it was a predictable pattern. ActM showed an inconsistent pattern, and that became a concern. At some point I finally decided that I'd had enough, and it no longer mattered to me what you'd return to say. Good news just became an opportunity to sell. I'm just a small ActM shareholder now and will likely hold here. NEOBEE looks more interesting. Very likely they won't have a forum presence or respond to every troll inspired fear. What they appear ready to offer is the predictability that markets value most. If you want to live by your motto of helping investors then start with being predictably honest and work toward profitability. The trolls weren't effective until (perhaps) they had gotten to you. Moderate their posts with a passion. We've all seen what happens when they get the run of the place.

Best of Luck

what happened with avavlon refund

Give us updates on the progress of the chips, specs, etc.

Haha, what, do you have like 3 shares or something like that?

Is the tx fee more expensive than dividends received?

ok, you passed from cheerleading to trolling. Now please be quiet and don't let this new thread became like the old one. Now that crumbs stopped to post shitty pics.


Please again Ken, can you give us an estimate about how much power hashing is expected for november/december?

sure whats your btc address ill send them to you when i get home

Just send them in my way then.

can you please just keep your satoshi dividends, i dont want them..

Bitfunder, BTC-TC Dividends Paid [0.00000130/Share]