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« Sent to: magzy on: Today at 01:15:38 PM »
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Quote from: dahsto on Today at 12:04:26 PM
Quote from: dahsto on April 14, 2014, 12:15:39 AM
Hello Ken,
I pre-ordered a Fast-Hash-One Silver 64 GH/s PCI-E Module (Order Reference AGWQBVSDM) -- placed on 2013-12-03, my status on the VMC website is still showing "Awaiting bank wire payment" and i have absolutely no answers to my messages from the customer support. What is going on ? I would like a refund now..
Thanks
Still no answer from the customer support at this day..
I'm sorry for your loss
Topic: [VMC] Unofficial Virtual Mining Corporation Discussion - page 6. (Read 10836 times)
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« Sent to: magzy on: Today at 01:25:35 AM »
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It' all an elaborate scam or something has gone catastrophically wrong - I too say goodbye.
Sorry for your loss.
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« Sent to: magzy on: April 16, 2014, 09:17:42 PM »
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Don't you know already you have been robbed by Kenneth slaughterer? He is the sole owner of your shares. correct me if i'm wrong but you have no proof of ownership. If he disappears tomorrow he still has your money and there's nothing you can do about it. Offices of the SEC would be quaking if this was happening in the US. Yet you all bend backwards for ken and let ken milk your emotional well-being as each day passes.
If he was a real company in the US he would never have got this venture off the ground because he would have failed every regulatory requirement
« Sent to: magzy on: April 16, 2014, 09:17:42 PM »
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Don't you know already you have been robbed by Kenneth slaughterer? He is the sole owner of your shares. correct me if i'm wrong but you have no proof of ownership. If he disappears tomorrow he still has your money and there's nothing you can do about it. Offices of the SEC would be quaking if this was happening in the US. Yet you all bend backwards for ken and let ken milk your emotional well-being as each day passes.
If he was a real company in the US he would never have got this venture off the ground because he would have failed every regulatory requirement
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« Sent to: magzy on: April 16, 2014, 09:40:40 PM »
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Quote from: magzy on April 16, 2014, 06:49:11 AM
All of my deleted posts (by you) in the open for all to see:
https://bitcointalk.org/index.php?topic=491609.new#new
as before, I just want my money back. that is all.
Contunue to withold money and the posting continues.
Refund money and the posts stop.
Simple.
This is a clear blackmail threat. Blackmail is illegal. If you feel it correct to contact the AG office to seek justice then it is also correct that we contact relevant authorities if you carry out this blackmail threat by continuing to harass and disrupt the thread.
This is your final warning.
Do NOT post in the ACtM shareholder thread again.
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« Sent to: magzy on: April 16, 2014, 09:40:40 PM »
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Quote from: magzy on April 16, 2014, 06:49:11 AM
All of my deleted posts (by you) in the open for all to see:
https://bitcointalk.org/index.php?topic=491609.new#new
as before, I just want my money back. that is all.
Contunue to withold money and the posting continues.
Refund money and the posts stop.
Simple.
This is a clear blackmail threat. Blackmail is illegal. If you feel it correct to contact the AG office to seek justice then it is also correct that we contact relevant authorities if you carry out this blackmail threat by continuing to harass and disrupt the thread.
This is your final warning.
Do NOT post in the ACtM shareholder thread again.
My open letter to ActiveMining / VMC in response to accusing me (Magzy) of blackmail:
Sent to: ActM Thread on: Today at 12:41:40 AM
This isn't blackmail. it's a promise.
To reiterate my promises I feel it correct that while VMC is taking money for orders and not refunding people (many others and me) according to laws in the state of California, US federal law and the UN charter on International Trade then the truth should be made as public as possible in order to prevent other people becoming victim to this scam of both VMC and the joke that is AMC.
If that means posting on a PUBLIC FORUM my experiences, questions and comments of my relevant interaction with VMC and AMC (good or bad) as both a customer and as a shareholder on CT then so be it. It just so happens that it's all bad - very bad. Therefore you deny me the right to free speech and freedom of expression in that PUBLIC FORUM.
I have posted the truth and I am going to continue posting the truth here, on the forum, and everywhere else that can possibly host the truth to get the facts out there. Until the problems are resolved for others I have been in contact with in private firstly and myself lastly.
Given that I am at the bottom of the list on refunds (as per ken's post) then I will cease to make scam accusations here there and everywhere once my refund is given. (I will take it that all others before me will have been granted their rightful and lawful refund.)
I will also take it that all potential VMC customers and shareholders will see the scam accusations and take them as a warning.
I promise that I will continue to journal and expose the fraud that VMC has become until there is clear evidence that the company is no longer a fraud or a scam. I have made this exact same scam accusation to the US Attorney General and I will continue to make this accusation on a PUBLIC FORUM until proven otherwise by way of having 4 month old refund requests granted and products verified in the open by the others I have been in contact with privately.
I promise to seek legal action when/if the refund doesn't materialise this week and collaborate with others who have also been scammed. I promise I will create a new thread explaining how people can get their money back from VMC via the correct legal means.
I promise will systematically go through my post history and annotate all open scam accusations with a retraction once the lawful debts by way of having my own money given back to me - money that was obtained by deception. (Incorrect shipping date, no actual product to deliver)
I will then retract my PUBLIC scam accusation with the attorney general for the same.
If you continue to deny me the rights of free speech and accuse me of blackmail in a public forum, fine. You do what you need to do.
I promise I just re post it in my own VMC thread whereupon it makes your whole VMC fraud operation look even more like a fraud until it's not a fraud any more (refund of MY money) or it simply goes out of business.
I wish you every success and great fortune with VMC and Actm but not at the expense of willful and open theft to fund it.
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« Sent to: magzy on: April 16, 2014, 09:40:40 PM »
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Reply with quoteQuote ReplyReply Remove this messageDelete
Quote from: magzy on April 16, 2014, 06:49:11 AM
All of my deleted posts (by you) in the open for all to see:
https://bitcointalk.org/index.php?topic=491609.new#new
as before, I just want my money back. that is all.
Contunue to withold money and the posting continues.
Refund money and the posts stop.
Simple.
This is a clear blackmail threat. Blackmail is illegal. If you feel it correct to contact the AG office to seek justice then it is also correct that we contact relevant authorities if you carry out this blackmail threat by continuing to harass and disrupt the thread.
This is your final warning.
Do NOT post in the ACtM shareholder thread again.
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« Sent to: magzy on: April 16, 2014, 09:40:40 PM »
« You have forwarded or responded to this message. »
Reply with quoteQuote ReplyReply Remove this messageDelete
Quote from: magzy on April 16, 2014, 06:49:11 AM
All of my deleted posts (by you) in the open for all to see:
https://bitcointalk.org/index.php?topic=491609.new#new
as before, I just want my money back. that is all.
Contunue to withold money and the posting continues.
Refund money and the posts stop.
Simple.
This is a clear blackmail threat. Blackmail is illegal. If you feel it correct to contact the AG office to seek justice then it is also correct that we contact relevant authorities if you carry out this blackmail threat by continuing to harass and disrupt the thread.
This is your final warning.
Do NOT post in the ACtM shareholder thread again.
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« Sent to: magzy on: Today at 05:26:44 AM »
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Quote from: zefyr0s on Today at 04:15:25 AM
Magz: if you had an actual case, getting other people rallied up about it only takes away from the money you would potentially get, unless you feel you have an underhanded argument and need the attestations of others to reinforce it. Shit or get off the pot, but we don't want to hear about it here. Do you have a lawyer? Have they been in contact with Ken's lawyers? Surely if there is an issue that customer service can't resolve your two attorneys should be able to work out an amicable agreement without disparaging Ken or the company.
The need for rallying is that a lot of people paid money. for each one to get an attorney individually will cost ~$600 each for a theft claim which kind of makes it non worth while.
By clubbing together and getting the attorney to act on behalf of all customers that got scammed (we are all practically the same case with the $'s being variable) will be in the region of ~$600 shared between all customers who wish to partake in the legal action.
If you think about it I'd be doing you lot a favor as shareholders because of the following:
1. VMC's legal costs will be their own plus our ~$600 - this will come out of AMC's farming profits on what would otherwise have been (~$600 * (number of customers he has scammed))
2. All refunds get paid albeit forcibly...
3. ...Which means no more complaints sans future customers who get screwed over.
4. No one is mentioning "withheld shares" here to the SEC thus, shares will be unaffected. As a shareholder this is not in my interests either.
5. ken will think twice about fucking people over again and will thus cultivate an ounce of a reputation respect for VMC/AMC for the future.
I'm still waiting on kens refund promise this week. (as I have been doing for 4 and a half months - you can understand our frustration here right?)
e.g. Here's a list of refund statements by Ken given to me on PM.
Quote
January 30, 2014, 02:25:51 AM
We have a back log in refunds and are processing those as fast as we can. If you have requested a refund from customer support then it is being worked on.
February 05, 2014, 01:11:34 AM »
That should have been processed, please contact customer service and tell them it has been 7 weeks.
February 05, 2014, 11:04:02 PM »
We had a little problem in December with BTC processing, so all Bitcoin refunds have to be checked, so that may be the hold up. I will look into why you refund has not be sent.
February 27, 2014, 07:13:29 PM »
Virtual Mining is currently processing and confirming pre-order refund requests.
March 10, 2014, 12:10:40 AM »
Refund to you ASAP.
March 11, 2014, 01:28:16 AM »
I have just hired a new customer service rep.
March 17, 2014, 03:57:11 PM »
Refunds will be processed in 2-4 weeks.
April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.
April 07, 2014, 02:26:10 PM »
We will be issuing you a check soon.
Note his refusal to even sell me a card^ This illustrates his stubbornness.
He says I'm at the bottom of the refund list so If I get my refund this week then all refunds will have been paid and then we can all relax focus on other important things.
How fucking difficult is this? Ken?
« Sent to: magzy on: Today at 05:26:44 AM »
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Quote from: zefyr0s on Today at 04:15:25 AM
Magz: if you had an actual case, getting other people rallied up about it only takes away from the money you would potentially get, unless you feel you have an underhanded argument and need the attestations of others to reinforce it. Shit or get off the pot, but we don't want to hear about it here. Do you have a lawyer? Have they been in contact with Ken's lawyers? Surely if there is an issue that customer service can't resolve your two attorneys should be able to work out an amicable agreement without disparaging Ken or the company.
The need for rallying is that a lot of people paid money. for each one to get an attorney individually will cost ~$600 each for a theft claim which kind of makes it non worth while.
By clubbing together and getting the attorney to act on behalf of all customers that got scammed (we are all practically the same case with the $'s being variable) will be in the region of ~$600 shared between all customers who wish to partake in the legal action.
If you think about it I'd be doing you lot a favor as shareholders because of the following:
1. VMC's legal costs will be their own plus our ~$600 - this will come out of AMC's farming profits on what would otherwise have been (~$600 * (number of customers he has scammed))
2. All refunds get paid albeit forcibly...
3. ...Which means no more complaints sans future customers who get screwed over.
4. No one is mentioning "withheld shares" here to the SEC thus, shares will be unaffected. As a shareholder this is not in my interests either.
5. ken will think twice about fucking people over again and will thus cultivate an ounce of a reputation respect for VMC/AMC for the future.
I'm still waiting on kens refund promise this week. (as I have been doing for 4 and a half months - you can understand our frustration here right?)
e.g. Here's a list of refund statements by Ken given to me on PM.
Quote
January 30, 2014, 02:25:51 AM
We have a back log in refunds and are processing those as fast as we can. If you have requested a refund from customer support then it is being worked on.
February 05, 2014, 01:11:34 AM »
That should have been processed, please contact customer service and tell them it has been 7 weeks.
February 05, 2014, 11:04:02 PM »
We had a little problem in December with BTC processing, so all Bitcoin refunds have to be checked, so that may be the hold up. I will look into why you refund has not be sent.
February 27, 2014, 07:13:29 PM »
Virtual Mining is currently processing and confirming pre-order refund requests.
March 10, 2014, 12:10:40 AM »
Refund to you ASAP.
March 11, 2014, 01:28:16 AM »
I have just hired a new customer service rep.
March 17, 2014, 03:57:11 PM »
Refunds will be processed in 2-4 weeks.
April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.
April 07, 2014, 02:26:10 PM »
We will be issuing you a check soon.
Note his refusal to even sell me a card^ This illustrates his stubbornness.
He says I'm at the bottom of the refund list so If I get my refund this week then all refunds will have been paid and then we can all relax focus on other important things.
How fucking difficult is this? Ken?
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« Sent to: magzy on: April 15, 2014, 01:17:18 PM »
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Quote from: Simon Templar on April 15, 2014, 11:38:59 AM
You just don't get it do you? This data center could be operating at 10 PH and it would mean nothing for us. Not until we get our shares. But how can we ever expect to get our shares back when the only person who can make it happen is saying one thing and doing another? This will go on and on, trust me. There is something seriously amiss and I'm calling it right here.
I reckon he knows something bad and doesn't have the nerve to break it to us. Investment hopes shattered once again. Someone get me off this roller coaster from hell.
*puts on tin foil hat*
My guess is that he converted all the fiat from the sales and the preorders into BTC on Gox and then lost it. Sans the 100k he sent to china for the chips.
If the hardware is all he has, then this would explain the non refunds of preorders. and the missing shares that he probably pledged to hasfast to procure the boards to sell the prospectors and stick the rest into the farm. (which is stalling at 30TH/s) and summer is coming
*takes off tin foil hat*
Ken is a fucking lying cunt who's blatantly scamming everyone.
Please tell the truth ken - even if you think that some people won't like it. We will respect you more for it.
« Sent to: magzy on: April 15, 2014, 01:17:18 PM »
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Quote from: Simon Templar on April 15, 2014, 11:38:59 AM
You just don't get it do you? This data center could be operating at 10 PH and it would mean nothing for us. Not until we get our shares. But how can we ever expect to get our shares back when the only person who can make it happen is saying one thing and doing another? This will go on and on, trust me. There is something seriously amiss and I'm calling it right here.
I reckon he knows something bad and doesn't have the nerve to break it to us. Investment hopes shattered once again. Someone get me off this roller coaster from hell.
*puts on tin foil hat*
My guess is that he converted all the fiat from the sales and the preorders into BTC on Gox and then lost it. Sans the 100k he sent to china for the chips.
If the hardware is all he has, then this would explain the non refunds of preorders. and the missing shares that he probably pledged to hasfast to procure the boards to sell the prospectors and stick the rest into the farm. (which is stalling at 30TH/s) and summer is coming
*takes off tin foil hat*
Ken is a fucking lying cunt who's blatantly scamming everyone.
Please tell the truth ken - even if you think that some people won't like it. We will respect you more for it.
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« Sent to: magzy on: April 15, 2014, 09:21:35 AM »
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Here's a list of refund statements by Ken given to me on PM.
January 30, 2014, 02:25:51 AM
We have a back log in refunds and are processing those as fast as we can. If you have requested a refund from customer support then it is being worked on.
February 05, 2014, 01:11:34 AM »
That should have been processed, please contact customer service and tell them it has been 7 weeks.
February 05, 2014, 11:04:02 PM »
We had a little problem in December with BTC processing, so all Bitcoin refunds have to be checked, so that may be the hold up. I will look into why you refund has not be sent.
February 27, 2014, 07:13:29 PM »
Virtual Mining is currently processing and confirming pre-order refund requests.
March 10, 2014, 12:10:40 AM »
Refund to you ASAP.
March 11, 2014, 01:28:16 AM »
I have just hired a new customer service rep.
March 17, 2014, 03:57:11 PM »
Refunds will be processed in 2-4 weeks.
April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.
April 07, 2014, 02:26:10 PM »
We will be issuing you a check soon.
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« Sent to: magzy on: April 15, 2014, 09:21:08 AM »
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Quote from: JoTheKhan on April 15, 2014, 05:49:17 AM
Quote from: magzy on April 15, 2014, 05:37:20 AM
April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.
I'm sorry but that is hilarious. Of course I think you are due to a refund and 100% in the right, that is just a very funny response. I apologize.
I don't know whether to laugh or cry - make the most of it anyway as all my posts automatically get deleted now as a matter of course by the mod - even though I am both a customer and a shareholder.
« Sent to: magzy on: April 15, 2014, 09:21:08 AM »
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Quote from: JoTheKhan on April 15, 2014, 05:49:17 AM
Quote from: magzy on April 15, 2014, 05:37:20 AM
April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.
I'm sorry but that is hilarious. Of course I think you are due to a refund and 100% in the right, that is just a very funny response. I apologize.
I don't know whether to laugh or cry - make the most of it anyway as all my posts automatically get deleted now as a matter of course by the mod - even though I am both a customer and a shareholder.
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« Sent to: magzy on: April 14, 2014, 10:43:57 AM »
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Quote from: drawingthesun on April 14, 2014, 07:00:05 AM
Magzy, for someone who has called Ken a scammer and helped to ruin our reputation you're a surprising dipshit to now invest and believe in the IPO prospectus.
Two faced people like you really frustrate me, are you gaming us or are you actually stupid?
I'm front running the inevitable round of refunds this week and riding on the successes of the mining farm being set up.
I agree I'm erring on the stupidity side of this. I'm am very skeptical and I had a lot of trouble convincing myself to buy....but as a famous investor once said "Buy when there's blood in the streets, even if the blood is your own." Source:http://www.investopedia.com/articles/financial-theory/08/contrarian-investing.asp
The price is poor because it's a poorly run company with terrible communication and logistics. Lets face it but that's good news for value investor who can see the potential and buy cheap. There is potential. But there is great risk too.
When ken releases the refunds this week then people will start to post positive things about VMC and Ken.
When that happens, I have publicly and privately promised to go through my post history above (Plus all the others on here , VMC Official, uniofficial, Dogies manufacturers trustworthy guide and on r/bitcoinmining on reddit) and annotate all and every scam accusation.
I still stand by the scam accusations when they were said at the time. Even Dogie said that VMC was a scam at one point. He and I both agree that the scams and the ratings will improve when the refunds start and the products are being independently verified. (only bargraphics and maybe someone else on here has come forward with an explanation)
Separate from that, a factoid I discovered recently re bitcoin is that the difficulty is getting lesser and lesser difficulty increases.The last one was just 12%. Something that is very good for the ROI of the prospector: https://tradeblock.com/mining/a/5fa9630aee
This means that the hardware being installed now by customers and AMC will ROI for longer - happy customers and shareholders = better perception of VMC/AMC/Ken
There's probably never been a better time to buy if Ken pulls it off which he appears to be doing.
« Sent to: magzy on: April 14, 2014, 10:43:57 AM »
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Quote from: drawingthesun on April 14, 2014, 07:00:05 AM
Magzy, for someone who has called Ken a scammer and helped to ruin our reputation you're a surprising dipshit to now invest and believe in the IPO prospectus.
Two faced people like you really frustrate me, are you gaming us or are you actually stupid?
I'm front running the inevitable round of refunds this week and riding on the successes of the mining farm being set up.
I agree I'm erring on the stupidity side of this. I'm am very skeptical and I had a lot of trouble convincing myself to buy....but as a famous investor once said "Buy when there's blood in the streets, even if the blood is your own." Source:http://www.investopedia.com/articles/financial-theory/08/contrarian-investing.asp
The price is poor because it's a poorly run company with terrible communication and logistics. Lets face it but that's good news for value investor who can see the potential and buy cheap. There is potential. But there is great risk too.
When ken releases the refunds this week then people will start to post positive things about VMC and Ken.
When that happens, I have publicly and privately promised to go through my post history above (Plus all the others on here , VMC Official, uniofficial, Dogies manufacturers trustworthy guide and on r/bitcoinmining on reddit) and annotate all and every scam accusation.
I still stand by the scam accusations when they were said at the time. Even Dogie said that VMC was a scam at one point. He and I both agree that the scams and the ratings will improve when the refunds start and the products are being independently verified. (only bargraphics and maybe someone else on here has come forward with an explanation)
Separate from that, a factoid I discovered recently re bitcoin is that the difficulty is getting lesser and lesser difficulty increases.The last one was just 12%. Something that is very good for the ROI of the prospector: https://tradeblock.com/mining/a/5fa9630aee
This means that the hardware being installed now by customers and AMC will ROI for longer - happy customers and shareholders = better perception of VMC/AMC/Ken
There's probably never been a better time to buy if Ken pulls it off which he appears to be doing.
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« Sent to: magzy on: April 14, 2014, 10:43:39 AM »
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Quote from: drawingthesun on April 14, 2014, 05:03:50 AM
This is true, and I am sure the many securities on Havelock would love to be on a decentralized system in the mean time but they are not. I agree with you that Havelock is the best choice.
Here are some facts:
- Decentralization is very hard. A lot of you are becoming complacent thinking that we can easily and without too much effort securely decentralise things like asset trading. Satoshi spent several years working on Bitcoin and there are only a handful of people on Earth that have created fully decentralised systems. Satoshi and Bram are the first two that come to mind. This decentralized asset trading system isn't going to be a walk in the park and I would want the system to be live for many months before moving over millions of dollars worth of assets.
- Most people agree with my point above simply due to the fact that most assets are listed on Havelock and not on CC or Counterparty. Once they are ready I am sure they will move. In this regard (where to list our shares lets FOLLOW the herd for once).
- If Ken wants to wait until the utopian ideal of decentralized asset trading systems are live, we might have to wait months. If we want to see how they go for a while to see what vulnerabilities are discovered because we don't want to lose all of our shares we could easily be waiting until early 2015.
- The shareholders including myself are tired of the endless excuses. There exists a high volume exchange ready to take us on and is arguably more secure and better run than CryptoTrade. Let's get listed on Havelock please.
- Regarding volume, many of us want to sell our shares and I know about a million shares want to get out for at least 2,500 bitcoin. I am 100% certain CrytoTrade will never see anywhere near that much volume. Lack of volume will create a share price of 0.000001 easily once 10 million shares are listed and about 10 bitcoin worth of buyers. It will be a blood bath on Havelock but a blackhole on CryptoTade.
- No one that wants to preserve our share value wants to be on CryptoTrade. I can only assume the CryptoTrade fans are either 1)shills 2)bought UKYO shares and are acting in self interest 3)are trolls.
It doesn't matter, Havelock or CT if the company is performing, producing profits results, sorting the complaints out, sorting customer service and shipping miners out as stated in the IPO. People will want to be a part of that and then the share price will go up.
If you look at the IPO offering on https://www.crypto-trade.com/tradex/ipo/amc_btc
Quote
AMC is a Bitcoin mining cooperative who sole purpose is to mine bitcoins for profit. AMC is also developing
ASIC chip(s) for bitcoin mining. Chips will be marketed through VMC and AMC will receive profits on the sales.
Also, machines build using AMC technology will receive profits from VMC.
Current Hashing Power:
Check our thread"[AMC]-The Official Active Mining Cooperative Discussion" on BitcoinTalk.Org for current information about our current hashing rate. As of the date of this secondary offering AMC has the following equipment in place:
AMC has the following equipment hashing
6 Avalon 65 GH/s units hashing.
68 Klondike - 16 chip ASIC Open Source Boards ~250 GH/s
Total Hashing Power Hashing ~700 GH/s
AMC through VMC expects to sale 1 Million of its 28nm Bitcoin Mining Chips in 2014. After AMC recoups its
NRE of ~1 Million dollars, then AMC expects to receive ~40 Million dollars in profits from its VMC subsidary payment in 2014.
The recouped NRE and profits from VMC will be used to make AMC the largest Bitcoin Mining Farm in the world.
The share price is based on the current reputation of this delivery and the company. This is the benchmark that needs to be met or exceeded in order to meet the market and the price to rise.
at 0.0008 BTC (34c USD) * 25m shares gives a current valuation of $8,500,000.00 for AMC.
If we use these numbers to look at the Price earnigs ratio then If this ratio is less than 1, its a great buy. If its around one, its a good buy. If the PE to growth ratio is higher than 2, you would want to take a serious look at whether you want to buy the stock.
Lets have a look:
P/e/ is calculated by "Market Value per Share" /"Earnings per Share (EPS)"
Market value per share = 0.34c USD (0.0008 BTC)
Earnings Per Share = $40m (from IPO above) /25m shares =1.6
Price Earnings Ratio = 0.34/1.6 = 0.2125
This is a great buy and that's why I have bought AMC
If the sales are projected out from the recent current sales at VMC then we have the following P/E.
~45 cards @ $2k = $90k in 2 weeks 90k * 26weeks = $2,300,000 sales for VMC in 12 months.
Then the p/e ratio will be 0.34/ 0.92(eps based on $2.3m /25m) = 2.833
The only way to increase this would be to sell more cards to the tune of $9m sales to make the PE go under 1 - this will signify a "good buy" as per above.
The only way to sell more cards will be to increase marketing/reputation.
The only way to increase reputation is to make the customer at the center of everything you do. Honor sales, customer service, refunds, get good feedback which in turn equals more sales.
I'm just going off the intention in the IPO and recent sales at VMC.
Do your own research. IMHO etc etc
« Sent to: magzy on: April 14, 2014, 10:43:39 AM »
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Quote from: drawingthesun on April 14, 2014, 05:03:50 AM
This is true, and I am sure the many securities on Havelock would love to be on a decentralized system in the mean time but they are not. I agree with you that Havelock is the best choice.
Here are some facts:
- Decentralization is very hard. A lot of you are becoming complacent thinking that we can easily and without too much effort securely decentralise things like asset trading. Satoshi spent several years working on Bitcoin and there are only a handful of people on Earth that have created fully decentralised systems. Satoshi and Bram are the first two that come to mind. This decentralized asset trading system isn't going to be a walk in the park and I would want the system to be live for many months before moving over millions of dollars worth of assets.
- Most people agree with my point above simply due to the fact that most assets are listed on Havelock and not on CC or Counterparty. Once they are ready I am sure they will move. In this regard (where to list our shares lets FOLLOW the herd for once).
- If Ken wants to wait until the utopian ideal of decentralized asset trading systems are live, we might have to wait months. If we want to see how they go for a while to see what vulnerabilities are discovered because we don't want to lose all of our shares we could easily be waiting until early 2015.
- The shareholders including myself are tired of the endless excuses. There exists a high volume exchange ready to take us on and is arguably more secure and better run than CryptoTrade. Let's get listed on Havelock please.
- Regarding volume, many of us want to sell our shares and I know about a million shares want to get out for at least 2,500 bitcoin. I am 100% certain CrytoTrade will never see anywhere near that much volume. Lack of volume will create a share price of 0.000001 easily once 10 million shares are listed and about 10 bitcoin worth of buyers. It will be a blood bath on Havelock but a blackhole on CryptoTade.
- No one that wants to preserve our share value wants to be on CryptoTrade. I can only assume the CryptoTrade fans are either 1)shills 2)bought UKYO shares and are acting in self interest 3)are trolls.
It doesn't matter, Havelock or CT if the company is performing, producing profits results, sorting the complaints out, sorting customer service and shipping miners out as stated in the IPO. People will want to be a part of that and then the share price will go up.
If you look at the IPO offering on https://www.crypto-trade.com/tradex/ipo/amc_btc
Quote
AMC is a Bitcoin mining cooperative who sole purpose is to mine bitcoins for profit. AMC is also developing
ASIC chip(s) for bitcoin mining. Chips will be marketed through VMC and AMC will receive profits on the sales.
Also, machines build using AMC technology will receive profits from VMC.
Current Hashing Power:
Check our thread"[AMC]-The Official Active Mining Cooperative Discussion" on BitcoinTalk.Org for current information about our current hashing rate. As of the date of this secondary offering AMC has the following equipment in place:
AMC has the following equipment hashing
6 Avalon 65 GH/s units hashing.
68 Klondike - 16 chip ASIC Open Source Boards ~250 GH/s
Total Hashing Power Hashing ~700 GH/s
AMC through VMC expects to sale 1 Million of its 28nm Bitcoin Mining Chips in 2014. After AMC recoups its
NRE of ~1 Million dollars, then AMC expects to receive ~40 Million dollars in profits from its VMC subsidary payment in 2014.
The recouped NRE and profits from VMC will be used to make AMC the largest Bitcoin Mining Farm in the world.
The share price is based on the current reputation of this delivery and the company. This is the benchmark that needs to be met or exceeded in order to meet the market and the price to rise.
at 0.0008 BTC (34c USD) * 25m shares gives a current valuation of $8,500,000.00 for AMC.
If we use these numbers to look at the Price earnigs ratio then If this ratio is less than 1, its a great buy. If its around one, its a good buy. If the PE to growth ratio is higher than 2, you would want to take a serious look at whether you want to buy the stock.
Lets have a look:
P/e/ is calculated by "Market Value per Share" /"Earnings per Share (EPS)"
Market value per share = 0.34c USD (0.0008 BTC)
Earnings Per Share = $40m (from IPO above) /25m shares =1.6
Price Earnings Ratio = 0.34/1.6 = 0.2125
This is a great buy and that's why I have bought AMC
If the sales are projected out from the recent current sales at VMC then we have the following P/E.
~45 cards @ $2k = $90k in 2 weeks 90k * 26weeks = $2,300,000 sales for VMC in 12 months.
Then the p/e ratio will be 0.34/ 0.92(eps based on $2.3m /25m) = 2.833
The only way to increase this would be to sell more cards to the tune of $9m sales to make the PE go under 1 - this will signify a "good buy" as per above.
The only way to sell more cards will be to increase marketing/reputation.
The only way to increase reputation is to make the customer at the center of everything you do. Honor sales, customer service, refunds, get good feedback which in turn equals more sales.
I'm just going off the intention in the IPO and recent sales at VMC.
Do your own research. IMHO etc etc
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« Sent to: magzy on: April 14, 2014, 10:42:13 AM »
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Quote from: drawingthesun on April 14, 2014, 01:41:45 AM
...In addition to this CryptoTrade is fundamentally broken as it shows 700,000 outstanding shares when Ken has issued less than 300,000...
how do we Know he hasn't issued 700k shares?
« Sent to: magzy on: April 14, 2014, 10:42:13 AM »
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Quote from: drawingthesun on April 14, 2014, 01:41:45 AM
...In addition to this CryptoTrade is fundamentally broken as it shows 700,000 outstanding shares when Ken has issued less than 300,000...
how do we Know he hasn't issued 700k shares?
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« Sent to: magzy on: April 10, 2014, 12:36:07 PM »
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Quote from: kslaughter on April 10, 2014, 01:47:07 AM
Quote from: chairforce1 on April 10, 2014, 12:57:53 AM
Is there any info on refunds that weren't transferred to product? I've seen the user magzy on the forum talking about how much of a bad experience was had with VMC. Are there many refund requests? Negative feedback from customers hurts much worse when a company is new and trying to get a footing in the industry.
Yes, I understand about the negative feedback, we have explained in full what the problem has been with refunds. We are getting ready to restart sending out refunds next week to customers that have requested one.
It seems there are at least 15 outstanding refund requests that have not been settled:
https://bitcointalksearch.org/topic/m.6155611
Make this right ken.
« Sent to: magzy on: April 10, 2014, 12:36:07 PM »
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Quote from: kslaughter on April 10, 2014, 01:47:07 AM
Quote from: chairforce1 on April 10, 2014, 12:57:53 AM
Is there any info on refunds that weren't transferred to product? I've seen the user magzy on the forum talking about how much of a bad experience was had with VMC. Are there many refund requests? Negative feedback from customers hurts much worse when a company is new and trying to get a footing in the industry.
Yes, I understand about the negative feedback, we have explained in full what the problem has been with refunds. We are getting ready to restart sending out refunds next week to customers that have requested one.
It seems there are at least 15 outstanding refund requests that have not been settled:
https://bitcointalksearch.org/topic/m.6155611
Make this right ken.
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« Sent to: magzy on: April 10, 2014, 12:08:51 PM »
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Quote from: chairforce1 on April 10, 2014, 12:57:53 AM
Is there any info on refunds that weren't transferred to product? I've seen the user magzy on the forum talking about how much of a bad experience was had with VMC. Are there many refund requests? Negative feedback from customers hurts much worse when a company is new and trying to get a footing in the industry.
Ken has promised that the refunds will arrive next week so I'm happy this is going to be fulfilled.
I've been in contact with ken on PM's over the last 3 months after getting nothing from CS and he has replied to most of my requests with the following:
January 30, 2014, 02:25:51 AM
We have a back log in refunds and are processing those as fast as we can. If you have requested a refund from customer support then it is being worked on.
February 05, 2014, 01:11:34 AM »
That should have been processed, please contact customer service and tell them it has been 7 weeks.
February 05, 2014, 11:04:02 PM »
We had a little problem in December with BTC processing, so all Bitcoin refunds have to be checked, so that may be the hold up. I will look into why you refund has not be sent.
February 27, 2014, 07:13:29 PM »
Virtual Mining is currently processing and confirming pre-order refund requests.
March 10, 2014, 12:10:40 AM »
Refund to you ASAP.
March 11, 2014, 01:28:16 AM »
I have just hired a new customer service rep.
March 17, 2014, 03:57:11 PM »
Refunds will be processed in 2-4 weeks.
April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.
April 07, 2014, 02:26:10 PM »
We will be issuing you a check soon.
...next week. Lets see if he continues to take the piss.
« Sent to: magzy on: April 10, 2014, 12:08:51 PM »
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Quote from: chairforce1 on April 10, 2014, 12:57:53 AM
Is there any info on refunds that weren't transferred to product? I've seen the user magzy on the forum talking about how much of a bad experience was had with VMC. Are there many refund requests? Negative feedback from customers hurts much worse when a company is new and trying to get a footing in the industry.
Ken has promised that the refunds will arrive next week so I'm happy this is going to be fulfilled.
I've been in contact with ken on PM's over the last 3 months after getting nothing from CS and he has replied to most of my requests with the following:
January 30, 2014, 02:25:51 AM
We have a back log in refunds and are processing those as fast as we can. If you have requested a refund from customer support then it is being worked on.
February 05, 2014, 01:11:34 AM »
That should have been processed, please contact customer service and tell them it has been 7 weeks.
February 05, 2014, 11:04:02 PM »
We had a little problem in December with BTC processing, so all Bitcoin refunds have to be checked, so that may be the hold up. I will look into why you refund has not be sent.
February 27, 2014, 07:13:29 PM »
Virtual Mining is currently processing and confirming pre-order refund requests.
March 10, 2014, 12:10:40 AM »
Refund to you ASAP.
March 11, 2014, 01:28:16 AM »
I have just hired a new customer service rep.
March 17, 2014, 03:57:11 PM »
Refunds will be processed in 2-4 weeks.
April 01, 2014, 07:29:34 PM »
Me:Ken, Given that refunds will never be processed, I'll take this deal to accept product from you instead of a refund.
Ken: I don't think so, we will just send you a refund.
April 07, 2014, 02:26:10 PM »
We will be issuing you a check soon.
...next week. Lets see if he continues to take the piss.
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« Sent to: magzy on: April 07, 2014, 12:39:43 PM »
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Quote from: kslaughter on February 20, 2014, 01:32:10 PM
Quote from: ActM Thread on February 20, 2014, 12:57:36 PM
Reposting a comment without the giant spammy text. The concern of customers receiving refunds is legitimate.
Quote from: stenkross on February 20, 2014, 12:19:19 PM
This was already posted in the unmoderated thread, but I think it's relevant so I'll re-post it here.
VMC's rating was demoted from B to E, because of refunds being ignored and no products on the horizon.
I can't blame them on the "no product on the horizon", but refunds being ignored can't be good for business.
Ken, can you address this?
We have processed refunds this week and mailed out checks. With the volume of refunds being processed, we are running behind.
No you haven't, I have been waiting 9 weeks for my refund and despite a vague promise to look into it I have yet to to receive a refund. You are a muppet.
No, I am a muppet for believing this scam in the first place.
You WILL be hearing from the Office of the Attorney general's Consumer protection Division in Jefferson County quite soon (if not already)
« Sent to: magzy on: April 07, 2014, 12:39:43 PM »
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Quote from: kslaughter on February 20, 2014, 01:32:10 PM
Quote from: ActM Thread on February 20, 2014, 12:57:36 PM
Reposting a comment without the giant spammy text. The concern of customers receiving refunds is legitimate.
Quote from: stenkross on February 20, 2014, 12:19:19 PM
This was already posted in the unmoderated thread, but I think it's relevant so I'll re-post it here.
VMC's rating was demoted from B to E, because of refunds being ignored and no products on the horizon.
I can't blame them on the "no product on the horizon", but refunds being ignored can't be good for business.
Ken, can you address this?
We have processed refunds this week and mailed out checks. With the volume of refunds being processed, we are running behind.
No you haven't, I have been waiting 9 weeks for my refund and despite a vague promise to look into it I have yet to to receive a refund. You are a muppet.
No, I am a muppet for believing this scam in the first place.
You WILL be hearing from the Office of the Attorney general's Consumer protection Division in Jefferson County quite soon (if not already)
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« Sent to: magzy on: April 07, 2014, 12:39:39 PM »
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Quote from: elmwar on April 07, 2014, 11:08:59 AM
Ken. Release the financial reports. You have a responsibility to do this.
What are you expecting to see on the reports?
« Sent to: magzy on: April 07, 2014, 12:39:39 PM »
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Quote from: elmwar on April 07, 2014, 11:08:59 AM
Ken. Release the financial reports. You have a responsibility to do this.
What are you expecting to see on the reports?
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« Sent to: magzy on: April 07, 2014, 12:38:52 PM »
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Quote from: kslaughter on April 03, 2014, 02:05:42 AM
Quote from: elmwar on April 03, 2014, 12:49:52 AM
Thank you for the update. Good news and more detail than normal.
I'm very happy to hear we'll have control over our shares once again!
However, we are still waiting on 2013 financials.
Yes, I will be working with our CPA next week to get our books in order and pay any taxes that are due.
can you pay me my refund I requested last year while you are at it?Huh
« Sent to: magzy on: April 07, 2014, 12:38:52 PM »
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Quote from: kslaughter on April 03, 2014, 02:05:42 AM
Quote from: elmwar on April 03, 2014, 12:49:52 AM
Thank you for the update. Good news and more detail than normal.
I'm very happy to hear we'll have control over our shares once again!
However, we are still waiting on 2013 financials.
Yes, I will be working with our CPA next week to get our books in order and pay any taxes that are due.
can you pay me my refund I requested last year while you are at it?Huh
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« Sent to: magzy on: April 07, 2014, 12:38:48 PM »
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Ken,
There are still a lot of customers who requested refunds in the previous months who have still not received them.
What assurances can you give to future customers that they will not be scammed and then ignored in the same way?
« Sent to: magzy on: April 07, 2014, 12:38:48 PM »
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Ken,
There are still a lot of customers who requested refunds in the previous months who have still not received them.
What assurances can you give to future customers that they will not be scammed and then ignored in the same way?
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« Sent to: magzy on: April 07, 2014, 12:38:45 PM »
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Quote from: drasted on April 03, 2014, 03:04:07 AM
Quote from: kslaughter on April 03, 2014, 01:54:07 AM
Quote from: toastee on April 02, 2014, 09:57:29 PM
Ken, fix the contact info on the website and the [email protected] address. You have people wanting to give you money that can't, and pissed off pre-order customers.
I will be fixing that next week.
This is the kind of thing that needs to be fixed right now. Not tomorrow and really not next week. You really need to consider hiring someone to help out with these sorts of things.
What's the point in fixing it if there's no one there to actually answer any emails (I've been trying to get anything out of them for 3 months)
« Sent to: magzy on: April 07, 2014, 12:38:45 PM »
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Quote from: drasted on April 03, 2014, 03:04:07 AM
Quote from: kslaughter on April 03, 2014, 01:54:07 AM
Quote from: toastee on April 02, 2014, 09:57:29 PM
Ken, fix the contact info on the website and the [email protected] address. You have people wanting to give you money that can't, and pissed off pre-order customers.
I will be fixing that next week.
This is the kind of thing that needs to be fixed right now. Not tomorrow and really not next week. You really need to consider hiring someone to help out with these sorts of things.
What's the point in fixing it if there's no one there to actually answer any emails (I've been trying to get anything out of them for 3 months)
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Wellldone @ken for getting these out.
Where are our promised refunds from December.?
Happy to accept btc.
Please advise.
You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations.
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Wellldone @ken for getting these out.
Where are our promised refunds from December.?
Happy to accept btc.
Please advise.
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