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Re: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated]
Ken never provided anything resembling detailed financials, that's why you are using words like "If" and guessing at conversion rates. You are guessing and hoping -- that's not the way finance works. You don't even know if the orders were paid for, much less converted into BTC.
Further, it's not Ken's job to play trader. If he converted the USD into BTC, and BTC tanked, he would not be able to refund the money. The customers would be pissed -- rightly so. You would be pissed -- rightly so.
Further, it's not Ken's job to play trader. If he converted the USD into BTC, and BTC tanked, he would not be able to refund the money. The customers would be pissed -- rightly so. You would be pissed -- rightly so.
Fair enough, I'm only speculating here and I'm no financial expert. But if you look at the balance sheet from September 30th (http://axs.net/VMC/Balance_Sheet.pdf), under Liabilities there is an entry Pre-order Sales conv BTC 351,487.06. Back then, the price of BTC would be what? - $150ish? At current prices, these would be worth about $2.2m.
Assuming all refunds would be paid in US dollars, why couldn't Ken cash in some of these now to cover the the $351K, which would free up the rest?
Don't get me wrong, I'm invested in ActiveMining for the long term and have been from the initial IPO, but some regular dividends from reserves would go a long way towards restoring confidence for both the shareholders and prospective customers.
Re: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated]
Actually, he did publish financial reports a while back and there was an entry there for BTC holdings.
Plus, we know that a big chunk of BTC was returned after a chip group buy was cancelled.
Regarding the preorders - if he did convert some of the payments into BTC at the time of the orders, that would have been done when BTC were at a much lower price than current.
Sell some of the BTC to cover the full cost of any cancellations (in US dollars) and return some of the rest to the shareholders. How is this crooked?
The customers paid in US dollars and would be refunded in US dollars.
Plus, we know that a big chunk of BTC was returned after a chip group buy was cancelled.
Regarding the preorders - if he did convert some of the payments into BTC at the time of the orders, that would have been done when BTC were at a much lower price than current.
Sell some of the BTC to cover the full cost of any cancellations (in US dollars) and return some of the rest to the shareholders. How is this crooked?
The customers paid in US dollars and would be refunded in US dollars.
Re: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated]
(Long time lurker, big investor in ActiveMining).
Am I right in saying that some of the funds from preorders/IPO/cancelled chip orders are in BTC?
Why not return a portion of these BTC funds to the investors as weekly dividends in the meantime to tide us over until the development is complete?
(Obviously, whilst ensuring that enough funds in US dollars are in place to cover any order cancellations and further development costs.)
I realise that this would cut into the funds available for purchasing mining machines, but at this stage there are too many unknowns and it would help to maintain confidence in ActiveMining.
Am I right in saying that some of the funds from preorders/IPO/cancelled chip orders are in BTC?
Why not return a portion of these BTC funds to the investors as weekly dividends in the meantime to tide us over until the development is complete?
(Obviously, whilst ensuring that enough funds in US dollars are in place to cover any order cancellations and further development costs.)
I realise that this would cut into the funds available for purchasing mining machines, but at this stage there are too many unknowns and it would help to maintain confidence in ActiveMining.
Re: [ActiveMining] The Official Active Mining Discussion Thread
Perhaps some shareholder proxy vote setup would be useful - i.e. shareholders can assign their votes to one of the aforementioned trusted forum members when it comes to major decisions?
EDIT: I do realise that shares in these markets do not carry traditional voting rights, but the silent investors should maybe have some say in decisions?
EDIT: I do realise that shares in these markets do not carry traditional voting rights, but the silent investors should maybe have some say in decisions?
I wonder whether the S.DICE buyout will help eat up some of the BTCT wall?
That's 150K BTC that will be released tomorrow. I imagine a lot of the shareholders will cash out, but a good proportion of them will be looking for new investment opportunities.
That's 150K BTC that will be released tomorrow. I imagine a lot of the shareholders will cash out, but a good proportion of them will be looking for new investment opportunities.
Re: [AMC]-The Official Active Mining Cooperative Discussion
OMG 0.002450 per share??? Nearly +200% in under 24h :-)
At 0.0014 I decided to buy some more, fired up my Bitcoin client, waited for it to sync (been away on holiday), had a coffee and a smoke, transferred the funds to WeExchange, waited for that to sync with another coffee, then I checked the price.... 0.004
*sigh*.
Re: [BitFunder] AMC-The Official Active Mining Cooperative Discussion
It seems that Butterfly Labs will start offering bulk chip sales starting this month. Perhaps these might be an option for AMC?
https://forums.butterflylabs.com/announcements/3014-butterfly-labs-announces-bulk-chip-sales.html
https://forums.butterflylabs.com/announcements/3014-butterfly-labs-announces-bulk-chip-sales.html
