Final Report - Trip to Springfield


Introduction - I apologize for the delay.  I have been quite busy this week.  I wrote and rewrote this little report.  Most of it was actually just anecdotes, but I took them out.  Although they don't necessarily have anything to do with ActiveMining, I think they are important in establishing Ken's character.  I didn't realize how inferior a written report is compared to the new style of podcast type interviews until I tried writing one.  I think it would be better overall to hear Ken's voice yourself. Also it's probably impossible to be perfectly objective when analyzing a situation for others.  I do my best, but you should all be capable of making your own decision based on hearing an actual conversation.   On my next visit I will attempt to do something like a podcast.  So let me know what you think.  I'll try to answer any questions as soon as possible.


ActiveMining - The #1 goal of ActiveMining at this time is to obtain the ~$1M for the NRE.  This may come at the cost of some of the initial avalon clone dividends.  As Ken stated he will obtain the funds for the NRE through all of the following:

Quote from: kslaughter on 15 July 2013, 20:19:36
Our Plans For Shares and the NRE:

When we reach our goal of funding for the NRE from any of the following sources (shares sales, machine sales, chip sales, private funding, mining, loans etc) with a bit of leeway for other expenses, I will make a post here in the thread and then take down the wall immediately.

So you guys need to be aware of the possibility that not all of the initial 6+TH will be mining for dividends.

Ken also stated he took down the wall before our meeting.  He feels it is more appropriate to "spoon feed" the shares to the market in order to obtain funding due to competition from speculators.

Springfield Underground is up for sale and they also have some undeveloped areas they may expand to.  These developments are both upwards of $15M though, so they are not priorities at this time.  Currently Ken said he has several racks ready to be rented out in their data center.  They are working out the details of powering the racks with respect to the engineering of the avalon clones and fast hash series machines.

If the NRE is successful, Ken said the low volume chips may encounter an initial loss, but time is of the essence in the bitcoin world.  Once full production begins, the prices per chip will decrease significantly.


Kenneth Slaughter - I genuinely enjoyed meeting Ken.  Ken told me he has sold just about everything.  He mentioned selling insurance, cars, suits, and he told me the story of his ISP business.  He had some interesting stories to tell, and he revealed some personal information about himself which he did not have to.  This earned some trust from me as I felt I was actually getting to know him as a person.  Ken shared his admiration for a few of the business men he has looked up to in his life.  He told me of their business philosophies and what they meant to him.  He told me about the lessons they taught him and what he hoped to do with his future businesses.  Two things I liked to hear were bonus vacation pay and employee profit sharing.

Ken did not seem like to type of man interested in a lavish lifestyle.  He seemed quite conservative and content with what he has.  I was pleased to hear Ken talk about how good his gas mileage is in his Volt.  It's nice to see someone interested in efficiency and maximizing value.

Ken also mentioned he took some advice from some of the forum members and often seeks council from a few people on specific PR situations that need addressing.  I think it shows good character for someone to accept constructive criticism in an effort to better themselves.  It shows Ken does care about the success of this business.


Future Developments - Ken shared a few interesting plans with me.  He did send off a block eruptor to his engineers to tinker with.  He also told me about an idea for a new type of mining machine for "the masses" as some would put it.  The idea is quite interesting.  And to coincide with the new mining machine, a tv commercial may be in the mix down the road.

ActiveMining has a lot of potential.  I'm excited to help out with providing information to everyone, and thank you again for the donations.  I very much appreciate it.

Also I plan to probably visit Springfield again in a few months when there are some new developments.  Ken said he would like to be able to get Springfield Underground access for me, but it may not be possible.  Thanks again everyone.  I had a great trip.

-babefoot