Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 51. (Read 771512 times)

+1

So on the scale of 1 to 10, 1 being "Definite scam" and 10 "Solid as Terrahash," how would you rate People's ASIC?  

$1mil/month mining revenue = $0.1 per share per month

In USD terms ActM will bring me a full-time equivalent income in a couple of months - not to be sniffed at. $1/share/month should be possible when 28nm chips come online ($5mil mining revenue, $5mil chips sales/month)

So what exactly did you achieve in the "next few days" since the 31st?

As I said before I've personally known Greg from People's ASIC and his partner (The two engineers) for about 8 months now. Both are extremely smart and capable engineers and I've personally seen them demonstrate a working FPGA using their code long ago.

Unlike the naysayers on here that put down everything and everyone, I've been to many of the Bitcoin conferences and will gladly meet anyone here.

I've personally met with Ken and even though I wasn't allowed to take any pictures (Which I said I would if I was allowed to) I wasn't sure where ActiveMining was going to go until Ken made the announcement about People's ASIC.

It's quite funny how things work out since I initially introduced Ken and Greg to each other in California. https://bitcointalksearch.org/topic/m.2836176


So while Ken had some issues getting this off the ground, he did choose a great team to work with and I'm excited to see what comes of it.



As was said many times before, if you want to physically meet Ken go setup a meeting. No one is hiding behind anything here, including myself unlike some of the trolls that frequent this thread. Their credibility relies on repetition and the unwillingness of shareholders to seek out the actual truth in their investment.

Seems like the typical reaction of the "believers" around here when someone really gets to the heart of the problem. Which is, when the fuck are we hashing?

This is exactly when you have to admit in front of yourself that the state ActM is in is as far from hashing as the earth from the fucking moon.

Now lets wait for the next picture of a bench, shall we?

Edit: See also the post from mainline about "getting lost in the details"... https://bitcointalksearch.org/topic/m.4911902

A) Well now, we have more children on here fighting.

B) "You're a troll. No you are. I have been here longer. You are the troll. How old are you? No you are."

C) Let's all continue to count eggs before they are laid, and then count the chickens which will hatch from those eggs which have not yet been laid.

D) The only things which are important are a) restarting trading; b) producing functioning hardware which mines at a profit.

E) Everything other than (D) is not important, since the primary goal of Active Mining should be to make money for its shareholders, and not just its executives.

F) Arguing, infighting, general stupidity should not be a surprise or shock to anyone who has been around Internet forums for any subject or interest.

G) Only one person can answer all the questions about eggs and chickens. We once again, begin a week waiting for that Wednesday announcement.

H) Last week, we were promised that trading would begin this week, or at least, that verification would begin.

I) Verification has not yet begun.

J) VE / Mainline or whatever name he is using now, may be angry, bitter, and a bit of a jerk, but his essential underlying questions are valid, that is, What is Active Mining doing? What has it been doing? and When will it do what it is supposed to be doing?

K) All the speculation for the last few days on here is merely the counting the chickens before the eggs are even laid.

L) The CEO of Active Mining required us to send screen shots of each of our tender of shares.

M) BF provided a list of bitcoin addresses which can be used to sign a message.

N) Technically, all that should be required to verify shares is for an interface to ask for a signed message.

O) The interface could, theoretically, 1) ask the shareholder for their bitcoin address, and then 2) ask the shareholder to sign a message. 3) Once the signed message is verified, 4) it would then send a link to the email address on record (which BF should have provided) and send a link to create a password.

P) It really should be THAT simple. The ELigius mining pool does not use passwords. It uses a signed bitcoin message as a means of identifying a user.

Q) It really needs to be done soon. It, being verification of shares and renewed trading.

 

So you come on here and post 'Are we hashing yet?' like it wouldn't take you all of 3 minutes to read the latest posts. Clearly you are trolling for a response. That or you are just stupid, but i hadn't pegged you as stupid before now.

But either way - you are both pathetic and immature.

'Ugh, not only am i going to put you on ignore, but I'm going to actually tell you that you are now ignored. I'm so awesome that this will be upsetting news to you, and you will be so very sorry'

Kindly fuck off and grow some pubes you ignorant little prick - i contribute far more to the rational debate on this thread than you ever have.

Yeah, I thought so at least. There's already a bunch of assets listed on there.

Yeah, that's a pretty sweet system. Worth looking into as it ALREADY WORKS!

Ken stated that the chips are rated at 1,9 GH/s and that the estimated yield per wafer is 6,800 chips.

If he wants to deploy 1,292,000 GH/s, then he needs (/1,9 GH/s) 680,000 chips or 100 wafers.

Cost per chip is $1,338,000 (total) / 680,000 chips = $1.97

Edit: Also, at 2.5W/Chip the total power consumption is 680,000 * 2.5W = 1,700,000W or 1.7MW

RoadStress, your math does indeed suck.

Speed (PH/s)   21.81  (http://mining.thegenesisblock.com/)

Total hashrate now is 16PH/s - ken is looking to deploy 1.3PH/s and the total projected network hashrate at that time is 96PH/s

Also, ken only needs 1.7MW

Your maths sucks dude.

the next cheapest hardware manufacturer is currently retailing for $3/gh - in 4 months ASICMiner might be doing things a lot cheaper than $1/gh but they are the only player who can do it at the moment. 28nm prices per gh will be even cheaper.

Total Hashrate now is ~2100Th and ken wants to deploy 1300Th in May that will consume a staggering 1700 MW? Now this is one hell of optimistic projection.

How will he get/cool 1700MW? How many chips are needed for 1300Th? And only 1.3 mil $ for more than 50% of current network? How come nobody else noticed these points?

Right now it's fine, but will it be fine in 4 months?

$1.03/gh cost to hash isn't bad at all....

1,292,000 Gh/s will mine us 2.4mil usd cumulative return.
BUT if we sell them out, at cheapest market unit rate, say $3/Gh/s, it will be usd 3,876,000, of course only accept payment in bitcoin to lock the exchange rate risk.
If we sell them out at $6/Gh/s, which is the unit rate of 24Th/s monster, we will have usd 7,800,000 profit.
Of course  we can do both, mine btc at first then sell the miners.

LOL

LOL
Let me ask this. How many shareholders ActM has?
100?
300?
500?
10000?

I am sure i's not 10000.  If he started requesting e-mail addresses manually a week ago, he had probably 90% of them by now and had spent a lot less time on manual processing than writing (how many lines have you written?) "automagical processing" script.
 
Someone, who visited ActM office,  told that you had some chicks hanging around the office, bored to death. Put them to work!
If they can read, they can match e-mail address to BTC account numbers.


OK, now I am really scared. What are those assets, we are buying from a start up company?