Topic: [AMC]-The Official Active Mining Cooperative Discussion - page 26. (Read 223316 times)
Why do you assume when I make an affirmation you don't agree, I must be uninformed? I know the other alternatives and I don't like them.
Can we start focusing on BTCT.CO? Seems like the most secure and trusted marketplace.
https://bitcointalksearch.org/topic/bitfundercom-has-been-hacked-and-it-is-bitfunders-fault-251051
https://bitcointalksearch.org/topic/bitfundercom-has-been-hacked-and-it-is-bitfunders-fault-251051
+1
and let the Bitfunder have the PT
I Btctco and Litecoin Global have way better usability that BitFunder. Yes, BitFunder's charts are good but everything else is just a mess. Ukyo, it's nothing personal 
Check out http://coinflow.co for nice charts.
I like Bitfunder and I will avoid as much as possible changing to another site, I find all the others pretty confusing for people like me that just want to buy and stay.
Take a look at btct it is much less confusing. with silly bitfunder you have to use weExchange, their fees are much higher, and the website is extremely amateur in terms of security.
I like Bitfunder and I will avoid as much as possible changing to another site, I find all the others pretty confusing for people like me that just want to buy and stay.
Can we start focusing on BTCT.CO? Seems like the most secure and trusted marketplace.
https://bitcointalksearch.org/topic/bitfundercom-has-been-hacked-and-it-is-bitfunders-fault-251051
https://bitcointalksearch.org/topic/bitfundercom-has-been-hacked-and-it-is-bitfunders-fault-251051
+1
and let the Bitfunder have the PT
I Btctco and Litecoin Global have way better usability that BitFunder. Yes, BitFunder's charts are good but everything else is just a mess. Ukyo, it's nothing personal
Can we start focusing on BTCT.CO? Seems like the most secure and trusted marketplace.
https://bitcointalksearch.org/topic/bitfundercom-has-been-hacked-and-it-is-bitfunders-fault-251051
https://bitcointalksearch.org/topic/bitfundercom-has-been-hacked-and-it-is-bitfunders-fault-251051
so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Or am I missing something?
I would say maybe you are missing the crypto currency context. amc is valued against the bitcoin so what impact on amc quote would the 40% drop in btc value have?
Well there is a complex relationship there. You might think amc should actually go up as that would reflect an unchanged value (in USD). But crucially amc mine btc for profits. so if btc was to drop to 1 dollar amc would probably be worthless as the profits to be made from miners wouldn't cover the electricity costs. So a drop in btc effects the amc bottom line. A 40% drop is significant. On the other side if btc went to 1000usd next week amc would likely shoot up.
You might also find some are liquidating their amc holdings to buy btc when it is so low and while it may have more short term up side potential than amc.
Yes, it is a complex relationship with bitcoin. However, I have checked and we would still be profitable @ $5.00 bitcoins.
With respect, this is not likely. If BTC/USD value were to retreat to $5 per, for all intensive purposes Bitcoin would be dead. I could not ever believe this as a possibility because I have faith in Bitcoin, but a fall like that would cripple Bitcoin's legitimacy. I think the only thing that could accomplish such a feat would be an alternative coin. Though, without true innovation in the alternatives, all of the current distributions are just clones of Bitcoin.
Yes, all I was saying was that the cost of electricity would be less than what the machines are making, Of course, that is at the current difficulty.
Current difficulty should not be the basis for future projected profits, obviously. However, with current projections upon difficulty, and considering that we believe in Bitcoin (you wouldn't be here if you didn't), the profits could be immeasurable.
so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Or am I missing something?
I would say maybe you are missing the crypto currency context. amc is valued against the bitcoin so what impact on amc quote would the 40% drop in btc value have?
Well there is a complex relationship there. You might think amc should actually go up as that would reflect an unchanged value (in USD). But crucially amc mine btc for profits. so if btc was to drop to 1 dollar amc would probably be worthless as the profits to be made from miners wouldn't cover the electricity costs. So a drop in btc effects the amc bottom line. A 40% drop is significant. On the other side if btc went to 1000usd next week amc would likely shoot up.
You might also find some are liquidating their amc holdings to buy btc when it is so low and while it may have more short term up side potential than amc.
Yes, it is a complex relationship with bitcoin. However, I have checked and we would still be profitable @ $5.00 bitcoins.
With respect, this is not likely. If BTC/USD value were to retreat to $5 per, for all intensive purposes Bitcoin would be dead. I could not ever believe this as a possibility because I have faith in Bitcoin, but a fall like that would cripple Bitcoin's legitimacy. I think the only thing that could accomplish such a feat would be an alternative coin. Though, without true innovation in the alternatives, all of the current distributions are just clones of Bitcoin.
It is impossible anyway for Bitcoin to hit $5. This would mean all of us (you, me) would have to completely become uninterested in the currency. I see too many hardcore enthusiasts here to allow bitcoin to drop to $5 without buying it up. I think ken was exaggerating the worst case scenerio just to make a point that a drop is okay -- let's not fixate on the concept of $5 because it is unreasonable.
Yes, I agree.
so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Or am I missing something?
I would say maybe you are missing the crypto currency context. amc is valued against the bitcoin so what impact on amc quote would the 40% drop in btc value have?
Well there is a complex relationship there. You might think amc should actually go up as that would reflect an unchanged value (in USD). But crucially amc mine btc for profits. so if btc was to drop to 1 dollar amc would probably be worthless as the profits to be made from miners wouldn't cover the electricity costs. So a drop in btc effects the amc bottom line. A 40% drop is significant. On the other side if btc went to 1000usd next week amc would likely shoot up.
You might also find some are liquidating their amc holdings to buy btc when it is so low and while it may have more short term up side potential than amc.
Yes, it is a complex relationship with bitcoin. However, I have checked and we would still be profitable @ $5.00 bitcoins.
With respect, this is not likely. If BTC/USD value were to retreat to $5 per, for all intensive purposes Bitcoin would be dead. I could not ever believe this as a possibility because I have faith in Bitcoin, but a fall like that would cripple Bitcoin's legitimacy. I think the only thing that could accomplish such a feat would be an alternative coin. Though, without true innovation in the alternatives, all of the current distributions are just clones of Bitcoin.
Yes, all I was saying was that the cost of electricity would be less than what the machines are making, Of course, that is at the current difficulty.
so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Or am I missing something?
I would say maybe you are missing the crypto currency context. amc is valued against the bitcoin so what impact on amc quote would the 40% drop in btc value have?
Well there is a complex relationship there. You might think amc should actually go up as that would reflect an unchanged value (in USD). But crucially amc mine btc for profits. so if btc was to drop to 1 dollar amc would probably be worthless as the profits to be made from miners wouldn't cover the electricity costs. So a drop in btc effects the amc bottom line. A 40% drop is significant. On the other side if btc went to 1000usd next week amc would likely shoot up.
You might also find some are liquidating their amc holdings to buy btc when it is so low and while it may have more short term up side potential than amc.
Yes, it is a complex relationship with bitcoin. However, I have checked and we would still be profitable @ $5.00 bitcoins.
With respect, this is not likely. If BTC/USD value were to retreat to $5 per, for all intensive purposes Bitcoin would be dead. I could not ever believe this as a possibility because I have faith in Bitcoin, but a fall like that would cripple Bitcoin's legitimacy. I think the only thing that could accomplish such a feat would be an alternative coin. Though, without true innovation in the alternatives, all of the current distributions are just clones of Bitcoin.
It is impossible anyway for Bitcoin to hit $5. This would mean all of us (you, me) would have to completely become uninterested in the currency. I see too many hardcore enthusiasts here to allow bitcoin to drop to $5 without buying it up. I think ken was exaggerating the worst case scenerio just to make a point that a drop is okay -- let's not fixate on the concept of $5 because it is unreasonable.
so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Or am I missing something?
I would say maybe you are missing the crypto currency context. amc is valued against the bitcoin so what impact on amc quote would the 40% drop in btc value have?
Well there is a complex relationship there. You might think amc should actually go up as that would reflect an unchanged value (in USD). But crucially amc mine btc for profits. so if btc was to drop to 1 dollar amc would probably be worthless as the profits to be made from miners wouldn't cover the electricity costs. So a drop in btc effects the amc bottom line. A 40% drop is significant. On the other side if btc went to 1000usd next week amc would likely shoot up.
You might also find some are liquidating their amc holdings to buy btc when it is so low and while it may have more short term up side potential than amc.
Yes, it is a complex relationship with bitcoin. However, I have checked and we would still be profitable @ $5.00 bitcoins.
With respect, this is not likely. If BTC/USD value were to retreat to $5 per, for all intensive purposes Bitcoin would be dead. I could not ever believe this as a possibility because I have faith in Bitcoin, but a fall like that would cripple Bitcoin's legitimacy. I think the only thing that could accomplish such a feat would be an alternative coin. Though, without true innovation in the alternatives, all of the current distributions are just clones of Bitcoin.
However I do think with the experience so far on this thread we do need some assurances written into the contract over how and when the shareholders are kept informed and updated on the progress of the business plan. The silence on here from Ken a week ago was deafening. So we need Ken or another AM employee on here everyday answering genuine questions. I think a short sentence in the contract commiting the company to that will keep AM focused and on the ball.
To keep the contract simple, I don't think we need to put that in. At the moment we have limited amount of time to be on the board, as we are trying to get a number of things put together. I for one will be flying to our Engineering firm to flash the prototypes in about a week. Should we get eASIC paid the NRE, I will be working with them in California to the the RTL perfect with 20 hashing engines. So, there is a lot to do. However, ever since we have started AMC we have put out a number of Press Releases, so much that Ukto on bitfunder limited us to one per week.
Fair enough Ken I'm sure we all understand you have an ever growing business to run but would just ask you to remember that the business is funded by shareholders and without their confidence (in you and your plans) and their backing there is no business. I'm sure you've taken on board the importance of communicating with and being open with shareholders. And especially when they raise valid concerns. Actually to your credit you did recognise the fact that a lot of those being called 'trolls' last week by some thread members were actually making valid criticisms, and to be fair to you you have taken onboard pretty much everything people were complaining about and acted quickly.
So in summary then:
1) the community raised valid concerns
2) You acted (fairly) quickly and have made significant changes.
I applaud you for firstly recognising changes had to be made and secondly for making those changes speedily and effectively and also for communicating with the community far more so than before. I'm sure most of us feel this episode painful though it was has made the company stronger and more likely to excel.
Thanks for your support. I intend to keep all the shareholder informed, as we have in the past. In the next phase, I am expecting the work load to increase and it make take some time before we can increase the number of employees to meet this increased work load. So, that updates may a little more spaced out.
so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Or am I missing something?
I would say maybe you are missing the crypto currency context. amc is valued against the bitcoin so what impact on amc quote would the 40% drop in btc value have?
Well there is a complex relationship there. You might think amc should actually go up as that would reflect an unchanged value (in USD). But crucially amc mine btc for profits. so if btc was to drop to 1 dollar amc would probably be worthless as the profits to be made from miners wouldn't cover the electricity costs. So a drop in btc effects the amc bottom line. A 40% drop is significant. On the other side if btc went to 1000usd next week amc would likely shoot up.
You might also find some are liquidating their amc holdings to buy btc when it is so low and while it may have more short term up side potential than amc.
Yes, it is a complex relationship with bitcoin. However, I have checked and we would still be profitable @ $5.00 bitcoins.
so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Or am I missing something?
I would say maybe you are missing the crypto currency context. amc is valued against the bitcoin so what impact on amc quote would the 40% drop in btc value have?
Well there is a complex relationship there. You might think amc should actually go up as that would reflect an unchanged value (in USD). But crucially amc mine btc for profits. so if btc was to drop to 1 dollar amc would probably be worthless as the profits to be made from miners wouldn't cover the electricity costs. So a drop in btc effects the amc bottom line. A 40% drop is significant. On the other side if btc went to 1000usd next week amc would likely shoot up.
You might also find some are liquidating their amc holdings to buy btc when it is so low and while it may have more short term up side potential than amc.
However I do think with the experience so far on this thread we do need some assurances written into the contract over how and when the shareholders are kept informed and updated on the progress of the business plan. The silence on here from Ken a week ago was deafening. So we need Ken or another AM employee on here everyday answering genuine questions. I think a short sentence in the contract commiting the company to that will keep AM focused and on the ball.
To keep the contract simple, I don't think we need to put that in. At the moment we have limited amount of time to be on the board, as we are trying to get a number of things put together. I for one will be flying to our Engineering firm to flash the prototypes in about a week. Should we get eASIC paid the NRE, I will be working with them in California to the the RTL perfect with 20 hashing engines. So, there is a lot to do. However, ever since we have started AMC we have put out a number of Press Releases, so much that Ukto on bitfunder limited us to one per week.
Fair enough Ken I'm sure we all understand you have an ever growing business to run but would just ask you to remember that the business is funded by shareholders and without their confidence (in you and your plans) and their backing there is no business. I'm sure you've taken on board the importance of communicating with and being open with shareholders. And especially when they raise valid concerns. Actually to your credit you did recognise the fact that a lot of those being called 'trolls' last week by some thread members were actually making valid criticisms, and to be fair to you you have taken onboard pretty much everything people were complaining about and acted quickly.
So in summary then:
1) the community raised valid concerns
2) You acted (fairly) quickly and have made significant changes.
I applaud you for firstly recognising changes had to be made and secondly for making those changes speedily and effectively and also for communicating with the community far more so than before. I'm sure most of us feel this episode painful though it was has made the company stronger and more likely to excel.
Haha, I've previously done that calculation too.
We can hope
I do not lack confidence, many others do not either. On BTCT they are going for 0.001999, just a chance for cheaper shares.
400,000/25,000,000 = 0.016 * 4.5 = 0.072
I'm looking at this formula, 400,000 ASICMINER shares, 25 mil AM shares, ASICMINER is 1.6% share volume of AM, current value of ASICMINER shares is 4.5 (ish), 1.6% of the ASICMINER value is 0.072 per AM share. This formula is based on AM being in the same ball park as ASICMINER, conservative adjustment down to 0.06 per share. Probably ludicrous and way off the mark considering they are overvalued
We can hope
I see that the price of AMC shares are dropping on bitfunder, they are around 0.0013 now.
Ken's "estimated gross combined profit and revenue / share" (https://bitcointalksearch.org/topic/m.2649462) for 12 months is said to be 0.01108 BTC.
That's almost 10 times current share price.
Well, the preview of the contract seem like a nobrainer for me, so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Ken's "estimated gross combined profit and revenue / share" (https://bitcointalksearch.org/topic/m.2649462) for 12 months is said to be 0.01108 BTC.
That's almost 10 times current share price.
Well, the preview of the contract seem like a nobrainer for me, so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
I do not lack confidence, many others do not either. On BTCT they are going for 0.001999, just a chance for cheaper shares.
400,000/25,000,000 = 0.016 * 4.5 = 0.072
I'm looking at this formula, 400,000 ASICMINER shares, 25 mil AM shares, ASICMINER is 1.6% share volume of AM, current value of ASICMINER shares is 4.5 (ish), 1.6% of the ASICMINER value is 0.072 per AM share. This formula is based on AM being in the same ball park as ASICMINER, conservative adjustment down to 0.06 per share. Probably ludicrous and way off the mark considering they are overvalued
I've been looking at this very closely and I'm unsure why too...
In a selfish way though it has benefited me as I've been selling off more AsicMiner shares to purchase more of these over the past few days.
In a selfish way though it has benefited me as I've been selling off more AsicMiner shares to purchase more of these over the past few days.
I see that the price of AMC shares are dropping on bitfunder, they are around 0.0013 now.
Ken's "estimated gross combined profit and revenue / share" (https://bitcointalksearch.org/topic/m.2649462) for 12 months is said to be 0.01108 BTC.
That's almost 10 times current share price.
Well, the preview of the contract seem like a nobrainer for me, so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Ken's "estimated gross combined profit and revenue / share" (https://bitcointalksearch.org/topic/m.2649462) for 12 months is said to be 0.01108 BTC.
That's almost 10 times current share price.
Well, the preview of the contract seem like a nobrainer for me, so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
I see that the price of AMC shares are dropping on bitfunder, they are around 0.0013 now.
Ken's "estimated gross combined profit and revenue / share" (https://bitcointalksearch.org/topic/m.2649462) for 12 months is said to be 0.01108 BTC.
That's almost 10 times current share price.
Well, the preview of the contract seem like a nobrainer for me, so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Ken's "estimated gross combined profit and revenue / share" (https://bitcointalksearch.org/topic/m.2649462) for 12 months is said to be 0.01108 BTC.
That's almost 10 times current share price.
Well, the preview of the contract seem like a nobrainer for me, so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
I do not lack confidence, many others do not either. On BTCT they are going for 0.001999, just a chance for cheaper shares.
400,000/25,000,000 = 0.016 * 4.5 = 0.072
I'm looking at this formula, 400,000 ASICMINER shares, 25 mil AM shares, ASICMINER is 1.6% share volume of AM, current value of ASICMINER shares is 4.5 (ish), 1.6% of the ASICMINER value is 0.072 per AM share. This formula is based on AM being in the same ball park as ASICMINER, conservative adjustment down to 0.06 per share. Probably ludicrous and way off the mark considering they are overvalued
I see that the price of AMC shares are dropping on bitfunder, they are around 0.0013 now.
Ken's "estimated gross combined profit and revenue / share" (https://bitcointalksearch.org/topic/m.2649462) for 12 months is said to be 0.01108 BTC.
That's almost 10 times current share price.
Well, the preview of the contract seem like a nobrainer for me, so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
Ken's "estimated gross combined profit and revenue / share" (https://bitcointalksearch.org/topic/m.2649462) for 12 months is said to be 0.01108 BTC.
That's almost 10 times current share price.
Well, the preview of the contract seem like a nobrainer for me, so the only reason for the share price to drop must be lack of confidence that Ken will actually deliver what he estimated.
Or am I missing something?
KISS is an acronym for "Keep it simple, stupid" as a design principle noted by the U.S. Navy in 1960.[1][2] The KISS principle states that most systems work best if they are kept simple rather than made complex; therefore simplicity should be a key goal in design and unnecessary complexity should be avoided. The phrase has been associated with aircraft engineer Kelly Johnson (1910–1990).[3] The term "KISS principle" was in popular use by 1970.[4] Variations on the phrase include "keep it stupid simple", "keep it short and simple", "keep it simple sir", "keep it super simple", "keep it simple or be stupid", "keep it simple and stupid", "keep it simple and straightforward", "keep it simple and safe", "Keep it simple student", "keep it simple, silly", "keep it simple and sincere" or "keep it simple and secular."[5][6]
Let's have this business done and allow Ken to crack on.
Let's have this business done and allow Ken to crack on.
Excellent post John boy, I mean it, really excellent. So if we are keeping it simple the contract only needs to set out the frame work of the new venture and its ownership and the profit share set up. It also needs to answer the concerns of the community regarding who owns the companys assets. I think it does this so it is looking good.
As much as anything this contract is a statement of how Ken will conduct business. I don't think any of us will be taking him to court if he breaches the terms - I guess you would just sell your holdings.
However I do think with the experience so far on this thread we do need some assurances written into the contract over how and when the shareholders are kept informed and updated on the progress of the business plan. The silence on here from Ken a week ago was deafening. So we need Ken or another AM employee on here everyday answering genuine questions. I think a short sentence in the contract commiting the company to that will keep AM focused and on the ball.
To keep the contract simple, I don't think we need to put that in. At the moment we have limited amount of time to be on the board, as we are trying to get a number of things put together. I for one will be flying to our Engineering firm to flash the prototypes in about a week. Should we get eASIC paid the NRE, I will be working with them in California to the the RTL perfect with 20 hashing engines. So, there is a lot to do. However, ever since we have started AMC we have put out a number of Press Releases, so much that Ukto on bitfunder limited us to one per week.
KISS is an acronym for "Keep it simple, stupid" as a design principle noted by the U.S. Navy in 1960.[1][2] The KISS principle states that most systems work best if they are kept simple rather than made complex; therefore simplicity should be a key goal in design and unnecessary complexity should be avoided. The phrase has been associated with aircraft engineer Kelly Johnson (1910–1990).[3] The term "KISS principle" was in popular use by 1970.[4] Variations on the phrase include "keep it stupid simple", "keep it short and simple", "keep it simple sir", "keep it super simple", "keep it simple or be stupid", "keep it simple and stupid", "keep it simple and straightforward", "keep it simple and safe", "Keep it simple student", "keep it simple, silly", "keep it simple and sincere" or "keep it simple and secular."[5][6]
Let's have this business done and allow Ken to crack on.
Let's have this business done and allow Ken to crack on.
Excellent post John boy, I mean it, really excellent. So if we are keeping it simple the contract only needs to set out the frame work of the new venture and its ownership and the profit share set up. It also needs to answer the concerns of the community regarding who owns the companys assets. I think it does this so it is looking good.
As much as anything this contract is a statement of how Ken will conduct business. I don't think any of us will be taking him to court if he breaches the terms - I guess you would just sell your holdings.
However I do think with the experience so far on this thread we do need some assurances written into the contract over how and when the shareholders are kept informed and updated on the progress of the business plan. The silence on here from Ken a week ago was deafening. So we need Ken or another AM employee on here everyday answering genuine questions. I think a short sentence in the contract commiting the company to that will keep AM focused and on the ball.
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