[ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated]

[drawingthesun]

To me this is a great deal even if AMC has just the 6 avalons running and thats it.  

0.0005 values ActiveMining at 12,500 bitcoin.

Those Avalons will mine another 10 bitcoin before they are put in the trash.

How is this a great deal?

0.0000004 per share is a more realistic deal, this value takes into account our expected hashrate from the Avalons.

[mainline]

...the problem is Ken not making it possible for the weak hands to get out.

Ken *is* making it possible for the "weak hands" to get out.  He's getting out - like a boss!

[Pompobit]

So yes, I know what I'm talking about

Fair enough, I'm a little worked up at the moment, this stupid move selling UKYO's shares for 100 bitcoin is insane.

It's ok man, I know you are one the largest shareholder here (I invested in ActM too, luckily I got out in time), and Ken fucked his investor once again, no surprise you are upset

[MilkyWayMasta]

Ken is wrong selling the shares at any price. Getting back HIS debt before everyone else puts him in wrong. Even selling shares at 0.0005 and getting 100XBT, those money should be split among ALL the weexchange users and not paying him before. So it's wrong from the beginning.

How is Ken responsible for Ukyo's mistakes? This is between Ukyo and Ken as the CEO of ActiveMining, not Ukyo, Ken, and also the users Ukyo stole from.

[minerpart]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

[finlof]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

wise words from a man who knows his math...

[minerpart]

Guys lol.. There is no fire sale, because there are no buyers.

Haven't 21.5% of the shares been sold already? Am I missing something?

If that rate continues they will all be gone in 4days.

[mainline]

...If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

To be more precise, if Ken isn't lying, the buyer is *guaranteed x5 return on his money*.

[drawingthesun]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

$80,000 is not a lot of money, if you look into the risk/reward analysis of the situation it's not worth the effort. Ken makes the company look even worse, pisses off hundreds of people already pissed at UKYO who may now threaten legal action against ActiveMining.
That $80,000 is not even enough to follow through a solid legal defense, what a waste!

In addition some perspective is needed, the 100 bitcoin represents 0.000004 per share and shows Ken's hand. He must desperately need that 100 bitcoin to take such an immense risk.

What if Ken was to sell 40,000 of UKYO's shares at 0.0025 to make back the 100 bitcoin? UKYO keeps 180,000 shares to do what he wants with and Ken does not devalue his investors shares. Everyone wins.

[Pompobit]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

It is really easy to get, probably you are in bad faith.

Let's explain with easy numbers.

Ukyo stole 1000 XBT from 10 users, Ken was on of the users and robbed by 100 XBT
Ken holds (not owns) 100 ActM Ukyo's shares with 1XBT value each one.
Those shares are owned by Ukyo and he could (and should) liquidate them to partially refund ALL weexchange users, so 10XBT each one
Ken instead sells him and pays back his debt entirely, leaving none to the other users.

Is it fair? Is it legal?

[wasubii]

Why the immense rush to sell these shares Ken?

Why not hold on to our 'lien'?

What are you not telling us?

[minerpart]

What if Ken was to sell 40,000 of UKYO's shares at 0.0025 to make back the 100 bitcoin? UKYO keeps 180,000 shares to do what he wants with and Ken does not devalue his investors shares. Everyone wins.

Good idea. I would go along with that. But who is going to pay 0.0025 when you keep saying the shares are worth 0.0001??

I don't understand how they would sell at that price. Are they worth 0.0001 or not?

[mainline]

Now is a perfect time for Bargraphics to join this lofty debate and reinstill us with confidence.

[Jasun7211]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

$80,000 is not a lot of money, if you look into the risk/reward analysis of the situation it's not worth the effort. Ken makes the company look even worse, pisses off hundreds of people already pissed at UKYO who may now threaten legal action against ActiveMining.
That $80,000 is not even enough to follow through a solid legal defense, what a waste!

In addition some perspective is needed, the 100 bitcoin represents 0.000004 per share and shows Ken's hand. He must desperately need that 100 bitcoin to take such an immense risk.

What if Ken was to sell 40,000 of UKYO's shares at 0.0025 to make back the 100 bitcoin? UKYO keeps 180,000 shares to do what he wants with and Ken does not devalue his investors shares. Everyone wins.

Remember Ken said he is dumping these shares incase one day a judge sustains an injunction to halt the shares.  No shares, no halt.  Smart play by me.  Also this scenerio is highly unlikely anyway because UKYO will be muddled down with all kinds of other stuff.  Better for him to just take his 500 BTC and go to Rio

[MilkyWayMasta]

As a user affected by the weexchange mess, I really blame Ken that is liquidating Ukyo's shares to get his debt back before other users.

We are all users effected by the WeEX mess - Ukyo stole 106BTC of our investment capital. That was money from us investors stolen by Ukyo.

Now your money might well be important to you but you need to remember who stole it from you. You also need to realise ACtM has lost money from it's balance sheet and that money needs to be returned. Hundreds of people are invested in this company and we and the employees of ACtM have a legal right to get our stolen money back. You obviously don't like that but it's out legal right and we are exercising it for the sake of this company. If you want to see some of your money back buy these shares, at this price you are guaranteed a full return on your money.

It is really easy to get, probably you are in bad faith.

Let's explain with easy numbers.

Ukyo stole 1000 XBT from 10 users, Ken was on of the users and robbed by 100 XBT
Ken holds (not owns) 100 ActM Ukyo's shares with 1XBT value each one.
Those shares are owned by Ukyo and he could (and should) liquidate them to partially refund ALL weexchange users, so 10XBT each one
Ken instead sells him and pays back his debt entirely, leaving none to the other users.

Is it fair? Is it legal?

Why do you keep bringing up the users Ukyo stole from? How is Ken responsible for them? He is only responsible in recouping his companies lost funds.

[minerpart]

Is it fair? Is it legal?

News for you - business isn't fair. If you want to succeed in business you often need to play hard-ball and make big decisions.

Is it legal? Absolutely, within the spirit and letter of the law. Without any court order instructing him otherwise, Ken is like any debtor who has seized assets, entitled to sell them to recover his losses. The fact that other parties have a claim against Ukyo is a side issue for Ken. They need to take up their own acts of seizure or legal disputes with Ukyo.

[minerpart]

Yep, and only 6.72 BTC being offered for the remaining 80%.

You don't understand how an exchange works. It a bit like a shop. Not every customer is in Walmart at every second of the day. Not everyone - infact very few big buyers - use buy orders.

[drawingthesun]

I don't understand how they would sell at that price. Are they worth 0.0001 or not?

If Ken had put up 40,000 and reinstated our shares, with good news I reckon Ken might have been able to sell them at 0.0025 within a month or so. However with this curveball, (A panicking CEO trying to get 100 bitcoin as soon as possible) confidence is eroding away even for the most loyal of investors.

The way the 100 bitcoin situation is being handled does not bode well for how our company is being handled.

I had some confidence after Ken's update and Bargraphics report, but this just shits on the cake.

[MilkyWayMasta]

Is it fair? Is it legal?

News for you - business isn't fair. If you want to succeed in business you often need to play hard-ball and make big decisions.

Is it legal? Absolutely, within the spirit and letter of the law. Without any court order instructing him otherwise, Ken is like any debtor who has seized assets, entitled to sell them to recover his losses. The fact that other parties have a claim against Ukyo is a side issue for Ken. They need to take up their own acts of seizure or legal disputes with this individual.

Wait, don't seized assets get split between ALL the debtors?

[drawingthesun]

Guys lol.. There is no fire sale, because there are no buyers.

Haven't 20% of the shares been sold already? Am I missing something?

Yep, and only 6.72 BTC being offered for the remaining 80%.

This is a terrible argument, demonstrating a terrible understanding of exchanges and the current situation.

Duffer, people can buy shares without having to sit them in the order book.

That 6.~ bitcoin has been stable whilst 25 bitcoin has moved in purchasing UKYO's shares. Obviously that 6.~ amount does not reflect the entirety of the situation.