Topic: [AMC]-The Official Active Mining Cooperative Discussion - page 128. (Read 223316 times)

I didn't offer you an apology but I will admit that I was wrong. Ken did say that the wafers are almost done and that the design was started last year, just not where you said he made such comments. That does not mean Ken is lying though. Look at 100TH's reports on picostocks. They were still designing the chip on 2013-03-01, chip production started on 2013-03-28 and wafers were finished by 2013-05-24. So, in just under 3 months, they went from chip design to finished wafers, something you're insisting takes years to do. It the BitFury devs can do it, why can't AMC?

Kendog,

Please don't be naive! This is the Bitcoin world. It is unregulated. For some people, that lack of regulation is a sign of danger, of money laundering and illegal activity. For others, it is a sign of freedom and a lack of oppressive government control.  For me, it is a sign of the Wild West, and of risks that are inherent in a new market and new technology.  I have invested with people and made loans using bitcoin where I did not know the real name of the person to whom I made the loan. Someone in Australia sent me 40 bitcoin (when bitcoin was USD $150 each) to buy some stocks for him because he didn't have access to his bitfunder account. He gave me .45 BTC for helping him. My point is, he trusted me, and I was a stranger to him. He took a risk. All of bitcoin is a big risk, and it is a risk because it is unregulated and at the moment, that lack of regulation is part of the excitement, so Kendog, if this was not the Bitcoin-verse, I would agree with you, but the rules of business are different here. In the name of disclosure, I own a good deal of AMC stock. Because of that, I am very interested in AMC's success. I knew when I bought that stock that there was a very big risk involved. If AMC doesn't succeed, or the stock price tanks, I know I will lose money. I still will be able to make my mortgage and buy food for my dogs, but I will lose money. On the other hand, if AMC succeeds, gets those chips delivered and AMC succeeds in doing what they way they are going to do, I am many other people will make lots of money.  If that happens, I will pay my taxes, capital gains, to the IRS.  But, Kendog, given the nature of the Bitcoin-verse and bitcoin businesses, it is unreasonable to expect anyone to follow all the non-bitcoin world's rules. My point being, your criticisms are not valid in the Bitcoin world. BUT! AMC DOES need to be more transparent if they want to build investor and potential-investor confidence.

I accept your apology Mabsark.  I also apologize to you for expecting you to go and read it for yourself but since you constantly were critiquing reading ability, I figured your own was beyond reproach.

I've just looked back at post 110 and it makes no mention of wafers. I also looked back 110 comments from this one, and the only comment I can find which sounds as if has anything to do with what you just wrote is comment 546:


Where exactly does he say the wafers are almost done? Where exactly does it mention anything you were just rambling on about? You're just trying to spread FUD and everyone can see how full of crap you are. You're a big-headed know-it-all and like all such people, you'll run away and hide before admitting you were wrong.

Bye Minor. Hope you find a more appropriate outlet for that anger, soon.

I am done with this forum, it is probably better if everyone gets ripped off again.
But, why don't you Mabsark learn how to read.   Read around post 110 back a bit, Slaughter SAID THE WAFERS WERE ALMOST DONE.   So, he went from "just signing an NDA", to a full mask set and right into almost getting the first batch of wafer starts in ONE WEEK?   Then, he ordered chips from Avalon (really crappy chips compared to the 45nm chips that he was getting soon.
Hope you lose lots of coin my friend.

+1

I agree that starting and doing a bitcoin business in a professional and honest way is the way to go.  That is why VMC is incorporated in Delaware, why we have a toll free number to contact us, a professional web page with all of our products listed, and why we will be providing a complete accounting of May's activity to Investors by June 15th.  However since you have admitted to being some kind of competitor to VMC and or AMC, Investors on this thread can take your attacks with a grain of salt.  

I will presume you to be an idiot. You quite clearly said,


If you're going to criticise the project, then you should have at least read the details.

Would you mind uploading your spreadsheet to a public google drive file?

I'm sure AMC will be buying the best available hardware at different times.

I've made my projections based only on buying + assembling Avalon chips, which is the baseline performance expectation. Anyone can use that to decide whether to invest or not.

I don't really care about any 65, 45, 32, 22 or 20nm chips at the moment. I've made my decision based on the possibility that there will be nothing better than those Avalons.

If it turns out we'll get anything better, I'll be !!!

I am quite confident about my statements.  They are made from experience dealing with the process in question.  I have made no accusations other than saying that some statements are either misinformation or outright BS.   I have also pointed out the classic way that pump and dumps used to be performed (and still are) on pink sheet penny stocks and shown the similarities to what is happening with this stock.
As to what companies I have started and built, I will announce that when we have a fully functional product that people can buy that same day they pay for it.   Just like the other companies I own outside of bitcoin.  The more companies that start doing bitcoin businesses in a professional and honest way, the harder it will be for pre-order scams and other mickey mouse type businesses to operate and that will be better for BTC in the long run.

Re-Read what I wrote MORON.  Do not presume me to be the idiot, there is a saying in vegas about people who think they are the smartest one at the table....   He JUST SIGNED AN NDA moron.  Read.   Or why don't you call a company and ask how long from NDA to receiving a 45nm chip is a reasonable expectation.   I am awaiting your call.

Thank you

 

Shareholders update

[EDIT]
Yep, sorry lewicki, made a script out of your idea. Will post every other day or so.

Thank  you for the update. I appreciate the pricing transparency.

So, I did some new estimations taking into consideration the latest available info. I am only considering income from Avalon chips atm (baseline performance expectation). Please examine all numbers carefully.

Please take everything with a grain of salt (!), as these are only previsions based on speculative data. I welcome any contributions for accuracy!

Comments:

• Upfront Avalon 10k chips cost of BTC1000 for each 10k chip order + board assembly, conservative scenario of 3 month delivery from order to mining start
• Network hashrate includes AMC hashrate and 103TH in august, and assumes a 15% increase per month (geometric progression, r=1.15), with an estimated 660TH/s by december.
• Operating expenses estimated at 10%.
• Share valuation reflects the % of accumulated profit/share divided by the bought share price. A 100% figure means the share price is fully paid by earned dividends.
• Used my estimations on sold share price as described below (average of 0.0005 for the 1st 5M and 0.0008 for the rest 15M); will correct when precise figures are released
• In may/14 the issuer starts receiving dividends on 40M general purpose shares, which are free to use for any growth/expansion/investment/salary purposes; in any case, the displayed share valuation takes into account as if no benefits are coming from these shares (so you can see what you'll receive in the worst case scenario)

https://docs.google.com/spreadsheet/ccc?key=0Ap8MGY67MGwNdE5rRGUtd1hzTE1CVUR3WnZsME02QXc


(Edit: Added Effective MH/s per share and MH/s per BTC at 0.0005 and 0.0008/share.)

Thanks for the suggestion.

Minor. You seem so sure about your accusations. So i can take you seriously, what companies have you started and/or running currently? Thanks.