So what everyone really wants to know is ....
What is our current hashrate?
And what will the hashrate be into the future?
Current hashrate is north of 100TH a decent amount and I'm hoping to turn it into 200TH+ in the very near future. Key word in that sentence is "hoping" as I'm not the one producing that hardware. |
|
|
|
In response to previous post. This seems pretty accurate (didn't check 100% but trust it from the looks), but mine has conversions to USD based on BTC "closing" price on days of payments as well. By the way Lab, have you become Fin-CEN compliant and have you registered as a Money Service Business in each of he US states in which you do business? Just askin'. http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.htmlI believe we are in compliance, but the laws based around virtual currencies are developing around us so I have my eyes constantly peeled. |
|
|
|
In response to previous post. This seems pretty accurate (didn't check 100% but trust it from the looks), but mine has conversions to USD based on BTC "closing" price on days of payments as well. |
|
|
|
Anyone have divs per bond for 09/07/13 and 09/21/13?
Are you going to post an updated list for all divs since IPO? I have this, but it's midnight and I entertained grnbrg all day with tours of hosting locations and food. Will add the most recent couple weeks to it and post in the next couple days. |
|
|
|
Can we dream that he's too busy because he's setting up new equipment?
This was actually true, not a dream....  |
|
|
|
|
Hello all,
Distributions are going out with this post.
The payment you are about to receive is for the previous week as well as the days between May 24th and today (11 days ending May 28th.) This payment is for a completely up to date list in terms of ownership and regarding new or old contracts as of today.
I'm going to start this post with a brief update on the build out of the most recently received hardware. The build out did not go as planned by any means which resulted in plenty of lost coins and added expenses. The datacenter owner was unprepared for the heat and power consumption drawn by this equipment on a large scale. Although there were major delays in hardware installment, he is not solely to blame. There was miscommunication, a transformer failure, AC issues, and a cut fiber line that resulted in additional lost time and revenue. In short, the hardware has been moved this previous weekend to a different and 100% reliable hosting location and is already at the max which is 40% over the previous max hashrate up to that point. Unfortunately, this move had the hardware down most of the week, and additionally cost a significant figure in fees and moving costs. This will result in no bonus this previous week or coming Saturday to recover the company's expenses.
The great news is that from here on we are exactly where we should be and bonuses should be increasing and a little more stable. To boot the BTC price rose $100 a pop as well!!!
I will be giving more frequent updates and being more transparent whenever possible going forward as some of the major issues are now out of the way. This will give me much more time to focus on contract holders and the growth of the company again.
This weeks (11 days) distribution details:
BTC:11.81682227
BTC / contract: 0.00006700
This does mean the upcoming payment will be low as it's only a few days worth of coins, but I think we'll all be very happy with the following payout!
-Lab_Rat
|
|
|
|
then grnbrg is coming out for a visit the week after.
Do I get to see the yacht? And the classic cars? grnbrg. And the yacht with the garage on it for my classic cars |
|
|
|
BTC: 6.6707388
Per Contract: 0.00003782
Bonus: 27.501341
Per Contract: 0.00025410
BTC: 6.6707388
Per Contract: 0.00003782
Bonus: 27.501341
Per Contract: 0.00025410
Thank's LabRat. Any news to share with us ?  Not yet... A few things I'm waiting on and I'll have some news. Thanks for coming out and saying hi. Hows everything going with you? Lab_Rat and grnbrg funny you both have 350 activity count: http://thedarkrealms.com/images/temp-stuff/temp/btc/lab_rat-grnbrg_forum_post.pngGot a lot going on right now, but I have a feeling things will be getting much better over the next couple weeks. Got a lot going on next week that I'll fill everyone in on toward the end of the week or on div day, then grnbrg is coming out for a visit the week after. |
|
|
|
BTC: 6.6707388
Per Contract: 0.00003782
Bonus: 27.501341
Per Contract: 0.00025410
Thank's LabRat. Any news to share with us ? Not yet... A few things I'm waiting on and I'll have some news. |
|
|
|
|
BTC: 6.6707388
Per Contract: 0.00003782
Bonus: 27.501341
Per Contract: 0.00025410
|
|
|
|
From the past few days experience. There is no way to answer questions on here reasonably as text becomes misconstrued and the individuals here are either looking to pick a fight or have been screwed over by too many people in the BTC community. If you would like to email me, feel free at labrat@labratmining.com and if you would like to request a call feel free to do so by the same means. It appears that the only way to attempt to gain the trust of those who will not listen is to just show people how it's going to be. Please note that the Bonus will be paid out to all people who have transferred to the New Contract on May 10th and any and all Bonus that has accumulated or will be earned in the future will not be held for any individual. You will begin receiving the Bonus at that time (if you have already accepted) or the time of your acceptance (if later than May 10th) of the New Contract. I will be providing a link to the Old Contract exactly as it has existed since the beginning of the company via email, the website, and these forums as well as a transcript of the AMA and a link to the New Contract as soon as they are all prepared. |
|
|
|
I read you pay us for 17.7th, when it was more close to 30th, and according to your vague and sporadic reports of hardware purchases, there's 150th wich you claim some already arrived, and yet, still paying for lets say 18. you systematically refuse to address the incoming hardware, and now you claim you do not have to share anything with us, plus you now added 2 weeks of mining with the new equipment to do what? you're not going to pay for that to us and we paid for that equipment.
Anything above 17TH WAS PAID by our 25% and 2 weeks of mining with OUR PAID equipment, if you dont pay us for what we purchased, then you're stealing the equipment and the proceeds you obtain from them, plain and simple, you expect me to believe you just have 18th running? you ALWAYS claimed that cex.io was just a part of all.
Trying to force us to believe you just offered 100mhz bonds and out of your kindness you end up giving 300mh after 2-3 months ago you were speaking of 2-3Gh share will not work at all, it will not.
Where did I say I was mining for myself or the company for 2 weeks? I just stated that people will receive payouts from the new hardware in 2 weeks. That neither states that it includes or doesn't include what has been acquired over the past period of time. Hence my statement about you assuming. It has also been discussed that things have not worked out as planned on this buildout, so more information will be given when the time comes. All I'm saying is please don't accuse me or LRM of anything we have not done. |
|
|
|
So if i understand well... to be legal the continual increase of hashrate has to be a "bonus" and only the new contractors will benefit from it?
But ... this bonus is not tide with anything as in the contract so we just have to trust you that its the added hashpower ?
Something close to what you describe here will likely be the case, but it was not specified in the original contract either. |
|
|
|
You're seriously stealing from us 130 TH of mining power, FUNDED by this proyect you managed and just paying for barely 18th, try to fancy your words, twist facts and offers. Sorry for me, i believed in a serious person who turned to be this one, forced to be hidden in the shadows for weeks.
Lawsuit incoming, hope we can dismantle your proyect, sell everything and return all the proceeds to us, why not some behind bars vacation, this could set a precedent on future companies to be much more serious.
Where am I stealing anything? Please explain? EDIT: I believe you're assuming, and not reading... |
|
|
|
I was just about to post that very thing... The company line from the AMA has been (as I understand it) : "Choose to take the new contract, or choose to keep the original contract, no legal advice will be provided to inform that decision." But the original contract is no longer available, considering it's been modified to reflect the capped 100MH/s hash rate... so really, we're only able to choose between contract v1.5 and contract v2... How do we, as investors/clients reconcile this choice? It hardly seems like one at all. The original contract (v1) clearly states that individual bond hashrate will increase as new hardware is available. Stop saying we have a choice of our contracts. As far as I understand, we only have the choice between the recently modified contact, and the new contract. 50,000 bonds will be put up for sale @0.25BTC/bond or market value +-5% at the time of the bonds being issued, whichever is of greater value. This installment will add at least 15TH/s to the companies mining operation, and with it will follow an increase in dividend payout to a minimum of 166.67MH/s per bond (this may increase depending on company expansion). This not only gives the new investors an increase in dividend payment, but gives greater benefits to the initial and early investors. It is intended the third installment will likely mimic the second installment thereby potentially increasing the company’s total hashrate to 40+TH/s which will in turn bump the dividend payout to 200+MH/s per share. All the forgoing and following estimates presume a fully sold out bond/contract offering and returns for mining based on certain historical data for returns of similar operations. It is intended installments in the operation will continue to occur which will provide more value to the company as well as more value to each individual bond as the company matures. These expansions, if they occur, will likely grow the company and our mining capacity in size which will provide further expanded payouts in the form of dividends (or increased dividends to investors). It is currently intended a portion of the money the company receives in revenue from bond sales and mining will be used to expand the operation which will further increase dividends per bond. It is currently intended the company will be adding to the bondholders hashrate on a regular basis as the company expands so one should expect to receive greater dividends than those explained above. Source: https://bitcointalk.org/index.php?topic=251423.0 Let's find a different solution here, or call it what it is and stop pretending we have a choice at all. Please tell me where I've said you will not receive benefits of new hardware? Also please read these statements that were highlighted: It is intended installments in the operation will continue to occur which will provide more value to the company as well as more value to each individual bond as the company matures. These expansions, if they occur, will likely grow the company and our mining capacity in size which will provide further expanded payouts in the form of dividends (or increased dividends to investors). It is currently intended a portion of the money the company receives in revenue from bond sales and mining will be used to expand the operation which will further increase dividends per bond. It is currently intended the company will be adding to the bondholders hashrate on a regular basis as the company expands so one should expect to receive greater dividends than those explained above. Therefore, Lab Rat Data Processing is amending its variable rate payout with a set rate payout of 100 MH/s per contract. This rate payout shall be for all current contract-holders and all future contract-holders. Contemporaneous with the change from a varying rate payout to a set rate payout Lab_Rat will triple the amount of contracts held by all contract holders as of the date of March 8, 2014. Therefore, for all current contract holders on their current contracts, the effective rate will be permanently set at 300 MH/s per contract. All future contracts purchased will be at the new rate of 100MH/s. *** The payout was never put in detail in the original contract *** Please note that even without these guarantees I've still been paying out as much or more than I've voiced. You are looking for negative when there is none to be found. I've always gone above and beyond what the contract promised. All I've done is clean up the new contract, provided additional benefits, and better explain the payout structure. |
|
|
|
With whos permission was the original contract modified ? Doesn't Lab_Rat need share holder consent to do so, Please advise if otherwise stated so any where.
The original contract was not modified. It will be posted shortly. The payout structure was modified to fit to the original contract. A quick cover in plain English rather than Legal terminology. Dividends -> Distributions Bonds -> Contracts Investors -> Contract Holders or Customers Original Contract (was never changed): Vague 100MH/s minimum Does not allow for anything more New Contract: Clear Structured Payout explained in detail 100MH/s + bonus (which allows for growth) Added refund policy for new purchases I have not taken any rights away from anyone. Nothing at all has changed except the Original Contract has been cleaned up and clarified in the New Contract. This payout has ALWAYS been trust based... I never have legally been obligated to pay more than 100MH/s, and you will clearly see that in the Original Contract when posted shortly. I'm running out to check up on the hardware hashing for you (the Contract Holders) which I find much more important than arguing with trolls spreading FUD on the forums. PS The dividends will be a few hours late but will be paid out in a few. Just a warning so no one accuses LRM of not paying them out. |
|
|
|
Please specify the exact differences between continuing with the old contract versus electing the new contract.
If that's too broad please offer a summarized comparison of what dividends per bond under old/new contracts will look like in the near term and future term.
This will be the last answer for this session. Both contracts will be available for you to review and compare. No legal or financial advice will be given. However both contracts pay at 100 MH/s per contract. The new contracts will carry with it the opportunity for bonuses as LRM deems the funds are available. The old contract does not provide for any bonus. |
|
|
|
LR -
Would you be willing to provide an update once per week as to the state of Lab Rat Mining?
Specifically, we'd like to know:
Amount of Hashrate on-hand.
Amount of Hashrate ordered.
Expected arrival date of hashrate on-order.
Bitcoins mined this week.
Bitcoins paid out this week.
Amount paid per contract.
Number of contracts in existence.
Any other pertinent information.
Thank you.
EDIT: Corrected typos.
Most of these do not change on a week to week basis. The important information is the hashrate which is updated instantaneously on the top of the website under Current Hashrate. Any major developments will be posted as they occur. So are you saying you are not willing to do this? 1: at top of webpage 2 + 3: Contractual obligations do not allow me to do so. 4 - 7: Yes 8: Will be posted as it becomes available (rather than weekly) |
|
|
|
LR -
1) Please tell us the original reason why the bonds were capped at 100 MH/s? We've seen a lot of hand waiving, but no concrete reason.
2) This conversion to capped bonds is not optional. What recourse through LRM do investors have who do not accept capped bonds in exchange for their original proportional bonds?
1: To the extent that we can answer this question without supplying legal advice we have already done so. 2: For those contract holders who wish it, they can select the new contract. So, in order for the growing hashrate to be cleared legally it is declared as a 'bonus' for the purposes of this contract? Essentially correct. |
|
|
|
|
Show Posts
