Topic: [AMC]-The Official Active Mining Cooperative Discussion - page 59. (Read 223316 times)

This has to be the last desperate dash for cash from a very desperate man. What a coincidence that this came along just at the time the whole construct is being exposed for what it is. If anyone orders one of these machines from VMC they need their head examined. Actually scrub that - lolstate put your order in and let us know how it goes.

Now that is some funny shit and worthy of posting on.   All this battling back and forth on what is this and what is that.  I stepped into AMC small, just didn't want to be in the "miss the boat" crowd like I kind of was with ASICminer (1.9-2.3).  The jousting contest going on continues to keep AMC in the discussion, and I am long on AMC, burn or turn, the risk is what you are comfortable with.

I find that it is easier to completely ignore him.  He has stated numerous times that he wants to destroy the company.  Now, whether this is actually true, or he's just trying to drive the price back down to the initial IPO range before buying in remains to be seen.  Bitcoin Megastore is by all accounts your classic troll.  He has brought very little to this discussion, yet is masquerading around as if he is doing us all a favour by being here.  None of us know why he's so angry with AMC.  Maybe his tees are not selling very well, maybe kslaughter killed his father, maybe he has a tiny penis, or maybe, just maybe he's just a dick.  Nonetheless, the forum is much better without him.

the thing with bitcoin is.. i guess one of the very few bad aspects.. even kids can invest into currency now and can be shareholders.. no ids, no documents.. and then it looks like this.. something goes sideways, against their wishes and they put a tamper tantrum up. what is that kids problem anyway? its our money.. we want to invest it? we will.. we dont want to, we will go elsewhere.. claiming he does not hold any position in this and acting all up like the biggest fool from all of them.. wtf..

The experts say it works, so your problem is?

Tell us again about your extensive background in the garment and fashion industry.

you seem extremely frustrated without any reason to be. so as it seems you were the one that blindly sold his belongings/property, because you were greedy and now that things are going belly up, you are venting yourself on internet discussion boards, going all off topic and blabbing nonsense the whole time? you claim that you are not holding any shares (which i find hard to believe, haha), go and relax buddy.. go and shag something or i dont know, hit the gym or jog.

or... are you just a mad person? do you read your posts after yourself? go and read them.. you are acting like a twelve year old the whole time.

The stock price may slide as investors panic but the company is not going under. Ken said has all the money he needs for now. He is selling shares because more money would be nice but not because it is a necessity. I think this post announcement storm is blowing over and soon things will change.

Another thought. It is without any doubt that ASICMINER is going to be deploying more hashing power and will continue to sell their new generation of hardware to the enduser. If anything VMC/Ken should not be trying to make sales on hardware to the public anytime in the near future. AMC is going to have a hell of a hard time just trying to keep up with ASICMINER and also other mining farms that are not even open to the public yet. BTCGarden is going to be deploying probably sometime in Sept as well as Labcoin just to name a few companies that are working towards getting their products developed and their mining farms up and running. Also you have small time miners that are going to be joining the network. I alone have 840ghz that i will be mining with if suppliers come through by Sept/Oct. All that VMC hardware that is in the works is going to have to be used for AMC mining. Why is Ken even trying to get pre-orders going? AMC will have the first option to purchase and should purchase to keep up with the network. By the rate that the network is growing all of VMC's machines are going to have to be used for AMC mining. AMC is going to need all the hash power it can get. I think this is another major issue. It would make more sense if the hardware get's sold and AMC profits 100% from the sales. If Ken plans to sell VMC hardware and only kick down AMC 10% this is going to cause problems for the shareholders.

1. AMC won't be getting the much needed hashing power to keep up with the competition
2. VMC will be pocketing 90% of the hardware sales at the expense of investors that put up the money to fund VMC
3. AMC is left with little to nothing and the mining won't be able to keep up so the shares will be worth shit and the dividends will be dust as well
4. VMC will continue to grow and make hardware sales to other miners (not AMC)
5. Once AMC is not profitable Ken will let AMC die out and VMC will continue to generate revenue like ASICMINER (hardware sales), BFL, Avalon, KNCMiner, Metabank/BitFury

I would to keep a positive attitude towards AMC. If solutions are not found for the issues that i have posted the past few days then we are just funneling money into Ken's side venture that will eventually become bigger and more profitable than AMC. Just like in the CA gold rush back in the days the people who were selling shovels and mining equipment made a huge amount of profits. Not everyone that came for the gold rush ended up finding massive amounts of gold to get rich. The merchants that provided products and services for the miners ended up making bank. This is why AMC needs to sell the hardware and take in the profit (not Ken) for the investors to not burned at the end.

I don't think VMC is gonna sell any pre orders even if VMC is legitimate due to the business structure and contracts between AMC and VMC. They have contradicting goals.

AMC has the first right of refusal on the rigs of VMC and In the best interest of AMC, Kslaughter would buy those rigs. Definitely until the debt has been repaid by VMC.

I don't see how VMC would be able to fulfill the preorders of the Fast-Hash-80's for August.

Ayup. Already admitted as much.


We'll see.  Got enough left to make up some of the difference if by some miracle this pig flies.  But having sold at the loss, I've also hedged against the whole thing going to zip, which seems increasingly likely.  YMMV, and everyone's appetite for risk/loss vary.

Damn son!  Throw the man some aloe vera for that burn. 

http://thegenesisblock.com/amc-announces-4-8-ths-bitcoin-miners-for-3000-btc/

Lol - guess who is in the comments, and guess what they say - Lol

You know, you'd actually come somewhere close to having a point for once if it wasn't stated here that Ken has employed eASIC to do the chip design.



BTW I can only presume you are so knowledgeable about your own business that if I give you a cotton seed and the seeds of a few pigment plants, you can turn them into a teeshirt by yourself.

You say as if I care
Feel free to do so if this makes you feel better after suffering all the loss from buying AMC!

Why do I have to listen to you?
I do whatever I please.
I enjoy watching all AMC sheep get burnt, just that simple.

as a business owner I always get pissed when anyone accuses me of being greedy because I am willing to innovate, create, employ, and do.  if you are such a fucking authority lysr, please make a better company and do something instead of bitching and saying what everyone else should be doing.

Well, I sold one, plus a few TATs, and will continue to post here and anywhere else I damn well please until we start to get substantive answers from Ken to substantive questions.  We've got substantive answers from others, and those answers are troubling indeed.  I didn't listen to Ken's "advice" - I was in a mood to re-balance a bit.  That one share is not a substantial portion of my ASICminer holdings.  I admit I did not do as much due diligence as I should have done, and I will not make that mistake again.  I trusted that the exchange had done more due diligence than they had.  Learned another very important lesson there, too.  Doesn't mean I'm not pissed.

Dropping a twenty on the ground isn't going to bankrupt me, but it's annoying.  Having someone pickpocket that same $20, I'm pissed.

I'll eat these words if it turns out that I am wrong.  You have it in text here.  What we don't have in text is Ken's substantive reply to the corporate structure.  "It seemed easier" doesn't cut it. It doesn't address the concerns people have been expressing MULTIPLE TIMES regarding that structure.  And this being the official thread, no it is not reasonable to have to go haunt IRC channels to try to get an answer.  We're not interested in a quick one-ff from a chat session. We want true discourse.

And for those who wish to say "hold on, there's an FAQ coming", I point out that Ken only said it "should" (his word) be written today. That's not "will."  And after that, he says it will enter a review process that will also take time. Yeahhhhh.

"Redacted docs coming soon"  Yes, I have Photoshop too.  What needs to happen is the ability to confirm the legitimacy of those documents with the counterparties. Is that also coming?

Dumped a few more of my shares at a big loss.  Unfortunately, I still have some, I'm still a shareholder, and I'm not going anywhere.

I wonder if any of you idiots actually read ANYTHING correctly

800-1000TH is what Friedcat projected the ENTIRE network to be at end of year, though at that point I don't believe he had considered anything from bitfury or KNC coming online. In view of that figure he was bringing AM up to 200TH .. he may be aiming a bit higher now if he is taking extra competition including AMC seriously, though if all AMCs hash this year is coming from avalon chips he may have had that factored (Knowing about how many chips would be out there, not specifically who would be using them.)

Anyway, AM has benefited from something of a "perfect storm" of setbacks from everyone else, which has caused a very unique business environment for it. This would lead share price through expectation based on past performance not to reflect the changing reality of the mining market, i.e. competition.

Therefore the expectation that AM is currently overvalued is valid. The logical thing to do would be to take profits, withdraw investment, from the overpriced entity and invest in one that is going to provide that competition. I think AM will only be worth half what it is long term. Meanwhile 2nd or 3rd large mining operations to come along, can also be worth about half what AM is now, but they're starting from fractions of that. So if you want your investments to drop by half, stick with AM, if you want them to be worth as much as half as AM from maybe a tenth or twentieth at this point in time, invest in a competitor.

So you are acknowledging that you are here to troll, and nothing more?  Ingored.