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Its a market reaction to the ACM issues today along with the hash rate showing as dropping on the LRM web site which has now been fixed. Zachary is on it and we have split between pools as is now stated on the LRM site
When you combine this with the low liquidity I think you have the answer. Personally I think the lower number of shares and investors is a good thing for those that hold long positions as the bonds play at below market currently. Once LRM reaches its stated objectives then the liquidity will rise and he can float the balance of the 50,000 for additional equipment for expansion.
Also, the hard ware side of the business is in a huge state of flux right now with so many players buried in gen 1 or 2 chips above the current benchmark of $3 per GH set by Cointerra. Too many variables to call the market now.
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Someone bought them before I could get the coins in there. I would have loved to lowered my cost basis.
How many do you want, and at what price? I'll take all you want to sell at .05 (you don't get if you don't ask  ) |
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Someone bought them before I could get the coins in there. I would have loved to lower my cost basis.
Damn! Those went cheap..... I'll take lots more at that rate! Geez |
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Wow, someone has listed their shares for .11 maybe its someone that wants to bring the price down or someone that got the bonds lower.. either way, thats not good, but I have faith...When the hashrate starts to go up, I believe so will the price of the bonds..
Interesting controversy about Activemining today and what is the result - cheap LRM bonds.... I think Zachary is working his plan and well capitalized to secure the required hashing power. Undoubtedly the gear is hashing away and the reporting is not accurate..... Off to shop for more! |
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I spoke with Dave Monday and everything was better than expected. Should have some more solidified dates that I will be able to pass on to you guys (and gals) soon.
Should have some good news tomorrow and some even better news within 2 weeks (Not a BFL pun)
How was the discussion with Dave better than expected? I hope that means hardware will be received in September  What was the good news? Was it the increased hash rate to 4.5TH? And was that due to Dave's contribution? I'm seeing closer to ~4.2TH Although I did see it as high as 4.7 early this morning 3.3 Now - hopefully that is a failover to EMC or reporting issue rather than an actual drop in hash rate |
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Looks like Dave from Bitfury has added his promisted 400 GH plus more tonight - currently over 4.3 TH with some readings at 4.5. Am curious if this is all from Dave as this represents an increase of up to 700 GH
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I followed that thread & have got complete refund from Paypal within 12 hours of sending e-mail to Paypal , I am so relieved that I am out of BFL black hole , Thank you Bicknellski & lajz99  Thank you lajz99 Yes, he made it Easy  |
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Well, the information is now public on reddit so I've added it to the original post. I knew it would happen at some point.  I hope you all continue to receive refunds using the information and I appreciate those of you who have sent your gratitude via tips. If anyone has any questions or needs any help feel free to shoot me a PM. I will also continue to moderate the thread so it does not get shut down so please keep it on topic. If you do receive a refund please post or shoot me a PM if you want to remain anonymous but I want to continue keeping track of how many have gotten their cash back! TY for making it Easy. |
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Let me know when you get under $5 per GH
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Update: We're pretty well caught up with verification. If you're still waiting on verification, check the email associated with your account to see if we've contacted you about it. If we haven't contacted you, then contact us through support. We're pretty sure we've contacted everybody, but in case we missed someone, please let us know.
Level 3 verified TY - any update on CDN$$$? |
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Predictions now for September 30th for where shipping will be for each product line:
Jalapenos: 5/22/2013
Little Singles: 3/2/2013
Singles: 2/25/2013
MiniRig: 7/21/2012 (oldest unfilled order)
Was your account hacked Joe? This seems unlike you to be making predictions that are based on unicorns and rainbows I.E. "Paydates". There is zero ability to predict anything based on paydates because there is no correlation to actual numbers of units or the longboards volumes associated with those units..... |
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If you paid with BTC like me, Your hosed though I assume.... Like me...
Well - you can take some comfort in knowing that the queue is shortened somewhat  |
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[12:40 AM] BFL_Jonathon: We never said as gospel truth that the backlog would be cleared by the end of this month.
Oh look, the Sep 30 backpeddling has begun. Damn - you are quick Syke..... I was pretty surprised when I saw that too. For clarity, as I stated in the PP refund thread - I want my gear and I want it by the end of September as is reasonable to expect from Josh's revised GOAL to ship all backlog to the end of April by the end of September. I have 720 GH on order in 4 separate orders through the month of March. Since I have access to free power and would still expect ROI and more from this equipment, I sent an email to BFL stating that if my gear did not have confirmed tracking numbers by September 23rd - a reasonable request again in view of the stated goal - I would initiate the PP refund. The predictable form email response from Abbey was "all sales are final"... etc etc. One week to go to refund or gear - what will it be? I'll post the result in this thread and the PP refund thread. |
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+1 this guy is awesome. Managed to get a refund within less than 24 hours! BFL Jallies are useless anyway  Thank you again! I have free power and thus would still like my gear in a timely fashion. I have received the info via PM as to how to get the virtually instant PP refund and have notified BFL that they have until September 23rd to ship or I will initiate the refund process with PP...... what did BFL do? Abbey sent me a form email stating all sales are final etc etc..... Let's be clear, I WANT my gear - I want it by the end of September as this is when BFL has stated numerous times that my orders would be shipped. Josh even revised the date for backlog clearance to the end of April and all my orders are prior to the end of March..... I'll still wait another week before I send the email to PP just to be sure that the dead horse is indeed beaten to the utter pulp it would appear to be from a distance...... And should the virtually inevitable outcome happen that I get my refund I will send my tip to the OP and include a note on the transaction to be stored forever in the blockchain that I refunded BFL orders #### from PP thanks to him |
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I think price will be low till each share hashing power goes beyond atleast 100+ Mh/S as there are some other bonds/shares that are cheaper than LRM & provide more Mh/s per share compared to LRM, but LRM has great potential once each bond starts to go beyond 200 Mh/S per share.. The only issue is that it looks like were going to go from ~75MH/s per share straight up to at least 300+... I hope everyone is ok with that? I have a lot of news on the way, hopefully some today, but some news is going to have to wait a little while to release. Sounds great Lab_Rat! No doubt you have already seen the Bitfury modding / tuning thread: https://bitcointalk.org/index.php?topic=287590.0 but just in case not, there you go! So great to see the BF community maximizing value on BF gear and sharing the benefits! |
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Turn this into a new thread/poll so BFL actually sees it. I dont see ANY downside other than BFL losing money
You are welcome to do that if you think it will help. The question of whether BFL was mining the rigs during burnin was answered by Josh on the Shoutbox some time ago. As I receall, he indicated that the units are not mining the blockchain but running nonces on a test network in their office FWIW. There was a comment to the effect that it would be too time consuming to set up individual machines to mine the blockchain while burning in. Joe's approach may alleviate that perhaps. |
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Here is some free advice Josh,
Instead of coding chip vouchers, classified sections to transfer orders here is something you can work on for something I like to call increased (or in your case an attempt to salvage..) customer satisfaction.
Create a mining pool for BFL customers who are still waiting for their hardware,
load it with wallet addresses that we each put into our user profile.
Put everyone in the pool.
Burn in all the BFL gear to that pool, so we can split the earnings,
and while you are at it, throw 10 Mini-Rigs into the pool as a show of good faith.
When you ship our orders leave us in the pool until you have really cleared the backlog.
What would that cost you? Bigger question what would that gain you?
These are the things us real world C Suite people do.
Best. Fucking. Idea. Yet - Joe -you are genius. What are the odds someone is listening? |
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Paid out dividends a little early this week everyone, got some hardware to set up again this Saturday and wanted to make sure they went out on time.
This is the last week the dividends will be cut due to the double payout. Next week we go back to normal dividends and we'll have a nice spike in hashrate to boot.
Actual dividend payout today was BTC57.61383896 or 49496 @ BTC0.00116401 a piece. Things will only get better from here on out.
Nice payout, thank you very much! Dividends steadily climbing, share price steadily falling... It's a strange world we live in  Whoa! 116,000+ satoshis per share with 2nd half of mix-up taken out?! More hash being added this week, next weeks payout bound to be even bigger. And as mmmerlin mentions, price still going down...earn more satoshi on shares held while earning more every week on a per-share basis. conclusion: I would be a fool not to pick up a few more of these ASAP I would be very cautious about stating that the share price is down on the basis of such low volumes. As we have seen from a recent post regarding market manipulation of MT Gox http://falkvinge.net/2013/09/13/bitcoins-vast-overvaluation-seems-to-be-caused-by-usually-illegal-price-fixing/ - this market is entirely unregulated and nothing prevents attempted or real manipulations. In absolute terms, yes the price is down. But, what volumes are associated with these price swings? Where is the trading coming from? And, very importantly, what are your long term goals in owning this investment? If you are speculating, perhaps you will be better to move over to something that has greater volume and thus liquidity. Labrat Mining is very different from other plays in this VMC 'industry' given the limited nature of the IPO and his approach to scaling production I.E. hashing power. "Competing" companies are floating IPO's of millions of cheap shares which have a broader appeal due to their perceived low cost (ASICMINER excepted) and tremendous speculative activity is the result. LRM is not conducive to a similar level of speculation due to its low number of shares and low liquidity. While I have not done an analysis of the % of trading shares transacting for ICEDRILL and Activemining, their total BTC volumes tend to outweigh that of LRM. How do you define value in this market? I posit that the drivers of value here are the same as anywhere when you consider that the goal of these companies is to provide a consistent or perhaps growing stream of earnings. In RL terms this is defined as "Present Value of Future Earnings". Just have a look at the total dividends paid and amount per share of LRM vs the marketplace and you will see that, should the present trend continue, it will attract more of the "right" kind of shareholder - those that are in it for the long haul. Analyze what is going on..... it is critical to your future success in this market |
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For color and formatting go to the BFL thread here: https://forums.butterflylabs.com/hardware-discussion/4570-where-we-going.html#post57358REVISED Paydates required to ship per day remaining to make the stated September 30, 2013 timeline to clear 65nm product backlog assuming the backlog is to the end of April 2013 as stated by Josh in the SB September 10th, 2013 Jalapeno: 4.2__3.9 3.8 Little Single: 9.7__9.2 8.8 Single:.13.7__13.5 12.9 Mini Rig: 17.2__16.4 15.6 Jody's Blog Date: 9/12/2013 Assumptions: These figures are derived solely from information supplied by BFL through Jody's blog updates. The backlog is to APRIL 30, 2013 as confirmed by Josh on September 10th, 2013 Partial shipments of Minirigs are not counted towards attaining paydate targets (Sept 6, 2013 update marks the first full shipment of a MR) Previous update values will scroll to the right in order to show the trend |
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