There is no way for me to operate this company outside of the US and avoid the US's laws while continuing to live here.

I'm working on a way to make things as pleasant as possible through this transition legally, but I've had legal pressure placed on me for 8-12 weeks to make this change.  It is a horrible place to be put in considering the ideas I originally built this company on.

I'm working on a way to fix this.

Mt. Gox did not effect LRM.

The trading platform is still being worked on.  It's in Alpha testing, but it is not owned, operated, or affiliated with LRM.

I'm here to answer the questions I can so feel free to ask.

The issues at hand are both on a state and federal level regarding multiple topics.  The specifics of these statutes will be presented in a timely manner.

I have not done any work for CoinSeed in weeks and don't believe I will have a major if any further involvement in CoinSeed.  This is yet to be determined by Merlin Kauffman.

The newly issued contracts price will be changed.

This update means that if you previously had 100 contracts, you now have 300 contracts.  The contracts are now all worth 100MH/s each and will remain that way indefinitely.

Continuing to pay out dividends is the better of the options considering the other route would be to dissolve and discontinue LRM as a whole.  Neither of which are desired options, but the difficult choice had to be made.

CHANGE IN PAYOUT RATE STRUCTURE

Cryptocurrencies, which includes Bitcoin, are relatively new to the world economic communities and its governments. Worldwide there continues to be almost daily announcements from governments regarding crypto currencies. Lab Rat Data Processing, a Limited Liability Company in the state of New Jersey, continues to monitor those announcements and the ever-changing laws and economic environments and how those laws impact cryptocurrencies, including Bitcoin, and in particular Lab Rat Data Processing. Most important to Lab Rat Data Processing are the ever-changing laws and/or announcements from the United States and its governmental agencies and the state of New Jersey and its governmental agencies.

Based upon recent developments in US and local laws, Lab Rat Data Processing, and their legal representatives, have determined a potential current or future problem with its current rate structure, which was originally intended as a variable rate payout. 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.

Lab Rat Data Processing will continue to monitor developments for cryptocurrencies and Bitcoin in particular, seeking to maintain its current status as a leader in the Bitcoin community and to maintain compliance with US and New Jersey laws.

More information to come.

Dividends Update:

Mined: BTC34.04630076
Payout: BTC25.53472557
Per Bond: BTC0.00043432


There were 3 individuals who paid back the overpay amount after their dividends were held.  The amount they were supposed to receive last week was rolled into this to ensure they were paid the proper amount.

Next week the dividends will be paid out on Monday 2/17.

GHash.io is a very temporary solution.  There's something in the works with Merlin that will make this problem go away.

Dividends went out.  To those of you who received a small amount or 0 remember that this week as well as a few people in weeks to come are repaying last weeks overpayment.

Mined: BTC31.80006408
Payout: BTC23.85004806
Per Bond: BTC0.000405668

These will see a slight increase this week despite the upcoming diff increase hopefully as I'm adding more hardware.

The coming weeks will be on the low side as is expected, but with an immenent ~180TH by the first or second week of March this will change rather abruptly.

Altcoin update:

NMC: 3567.86305903
IXC: 887.61781214
DVC: 32278.45217148

Reffered GHS: 9.45163718

If they are sent back from the same ones it just makes things easier, but the quantities are all pretty well unique and everyone has replied paid with the tx ID to my emails.

This ^^^  The rest is on other pools ready to be moved over once GHash starts sliding back on % a little more.

I actually haven't owned any hardware since I started LRM nor did I plan to.  The only time I've had any hardware mining for me is this time.  All of my purchases were added to the company at startup.  I also haven't even taken a paycheck this year yet.

I can only be on for a few more minutes though.  My entire time in Miami I may have slept 10-14 hours.  Still haven't recovered from this due to BarGraphics' visit.

This is why I'm not owning any hardware ever again... I've spoken to my lawyer and we both agree I can't compete with the company.  In this case it's resulting in a contribution to the company so I see this particular case to be in the company's interest rather than against it.

Made a lot of great connections in Miami.

Being an LRM bondholder will make me want to help you out more, but limited quantity purchases are actually worse than large ones.  Getting ahold of a large amount of gear isn't a problem and more funds means lower prices.  Might be dumping some old BFL gear once the new BFL gear comes in though.

Thank you, and there's one coming up real soon.  For obvious reasons I'm not giving a date. 

grnbrg and I verify all transactions before bonds change hands and can turn down a sale.

The hardware has been in hand for about a week as that's all it took to pay it off (I got it cheap) and there's still another TH coming in.  This will be added to LRM after this weeks div payment.  I just didn't want to use company funds on it.  Be glad I'm adding it when I could just as well keep it theoretically.

58792 currently outstanding bonds. With an expected hashrate of:

25-30TH in the next week or so (318.915-382.703 MH/s per bond)
50-55TH in the next month (637.842-701.626 MH/s per bond)
205-215TH beginning of March (some of this could get sent a little early  ) (2.615-2.743 GH/s per bond)

These are estimates and are in no way binding if off by a small amount.  Certain factors could change these projections.



I can't share this yet, but I have not forgotten about this.  It's being worked on and hopefully a solution can be worked out in the near future.