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Just home, it's 12:45 (just after midnight)... I think I'll wait til tomorrow to pay out dividends. I hope no one minds.
While I was out today for a family matter, I happened to overhear someone at the restaurant we ended up at for dinner speaking about BitCoin. Didn't have the energy to go over and talk to them after everything this past week, but I did speak to the waiter who was passing it on the the owner of the restaurant, and they should now be accepting soon. It's just good to know that it's spreading everywhere.
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The way things seem I will be away from a computer for the vast majority of the day tomorrow. If need be I may need to postpone dividends until Sunday or the following Saturday. I will do my best to get them out even if they must be sent tomorrow night instead of ~noon.
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By the way... Each of those racks have 40A run to them and those split units are 2.5 tons a pop. This is going to be fun to set up.  |
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What is the ideal, target timetable to move the bonds?
Ideal in Bitcoin world is always yesterday, but a reasonable time-frame would be 2-3 weeks. |
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Wow. Fairly blown away by the scale of the news. By all means, sell more bonds.  Is this a go / no go sort of thing? As in, if the stated funding goal is not reached, it is a dead project? From what I understand based on his post, it looks like everything is a go. (Thank you two weeks of low dividends) but the more bonds we sell now will directly reflect the hashrate in the future as it takes time for orders to be fulfilled/wafers/etc... is this correct? Yes this is correct. And the amount of funds that come in are not a linear increase from previous bond sales. Every coin pulled in right now means massive growth for the company in the coming months. If these available bonds sell we will see hundred s of TH from the BitFury deal alone and that's not including the ASIC project we're getting in on. The more that sell the better it is for everyone and there's been quite a few takers so far. |
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Yes, I failed to discuss this with grnbrg before making the announcement I was looking to offload a few more bonds.
Current outstanding bonds: 57108
With this addition of 7892 bonds it will bring the total issued to 65000.
The reasons behind me issuing extra bonds, I've been wanting to release to the public for quite some time. I can give limited details on them, but I'm hoping it's enough for now. There is a very large deal with BitFury in the works as we speak that will add an enormous amount of guaranteed equipment to LRM, but this is only to hold us over for the really big news. LRM is in the process of getting involved in an ASIC project that started months back. The project has made it past every test, the only thing that was needed was a little extra funding. This is something LRM could offer in return for at cost hardware as a result of partial ownership of the company.
This means that LRM should easily cruise past the 100TH club and into the PH range with minimal effort as long as a little extra funding is made available. At this point selling these extra bonds isn't required to keep the company running, but I'm sure that all of the bondholders want to see this company flourish just as much as I do. I promised everyone 100MH/s per bond, but what sounds way better than that is 10 or even 100GH/s per bond, which is not out of reach with our own chip.
I'm going to be offering these bonds at what I consider to be a large discount for what I have planned and charge 0.1BTC per bond. If you are looking to purchase 500+ please contact me directly as I won't charge a fee for purchases, but I agree with grnbrg charging a fee in that this is not his job. He is offering a great service helping LRM out and taking very little for his time.
Thank you to everyone who has made it possible for LRM to be where it is today. I can assure you this is still just the beginning.
If LRM is buying into this asic company will LRM share profits or will the only benefit be chips at cost? Share profits. If we actually sell any hardware. |
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... Can a chunk be reserved for smaller (loyal) bond holders who don't have large amounts of BTC in reserve, otherwise the big fish make all of the gains in a selling storm?
With the size of offering I'm making it's kind of first come first serve. So "Get em while they're hot!" |
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Sometimes I feel like I'm never going to make my LRM investment back, other times I feel like I'm sitting with Steve Jobs in his garage in 1976...
this Can I quote you on this for the website? |
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Yes, I failed to discuss this with grnbrg before making the announcement I was looking to offload a few more bonds.
Current outstanding bonds: 57108
With this addition of 7892 bonds it will bring the total issued to 65000.
The reasons behind me issuing extra bonds, I've been wanting to release to the public for quite some time. I can give limited details on them, but I'm hoping it's enough for now. There is a very large deal with BitFury in the works as we speak that will add an enormous amount of guaranteed equipment to LRM, but this is only to hold us over for the really big news. LRM is in the process of getting involved in an ASIC project that started months back. The project has made it past every test, the only thing that was needed was a little extra funding. This is something LRM could offer in return for at cost hardware as a result of partial ownership of the company.
This means that LRM should easily cruise past the 100TH club and into the PH range with minimal effort as long as a little extra funding is made available. At this point selling these extra bonds isn't required to keep the company running, but I'm sure that all of the bondholders want to see this company flourish just as much as I do. I promised everyone 100MH/s per bond, but what sounds way better than that is 10 or even 100GH/s per bond, which is not out of reach with our own chip.
I'm going to be offering these bonds at what I consider to be a large discount for what I have planned and charge 0.1BTC per bond. If you are looking to purchase 500+ please contact me directly as I won't charge a fee for purchases, but I agree with grnbrg charging a fee in that this is not his job. He is offering a great service helping LRM out and taking very little for his time.
Thank you to everyone who has made it possible for LRM to be where it is today. I can assure you this is still just the beginning.
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The two weeks (plus a little change from beforehand) I'm putting every penny of into the company. I'm not taking ANYTHING for power, rent, management fees, etc. And there are 2 things I have in the works right now that will blow everyone away once I can finally share them. The 100TH club is no problem to reach in the very near future.
As per bond pricing, there are some liquidity issues with the amount of people actively trading bonds and also willing to put up with the current available means of trading. I'm working on a way to legally get trading back up and running for LRM.
If you're interested in grabbing some bonds directly from me, I have a limited amount available, but don't want to sell too many until after I make the announcements as I feel the price is extremely low with what I have in the works.
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1. A private pool
2. Maybe he is already doing merged mining and wants to keep it for his retirement fund?
3. What ever he feels like to spend as this is his BTC.
This is not a publicly owned company so he doesn't have to tell us anything. In fact he could close up shop tomorrow and we would get zero return.
On the plus side "two weeks"
I'm mining, and I'm not mining in a pool I want to be in, but everything is hashing away as it should be. I'll let you guys know when LRM has found a permanent home. This pool does do NMC, but as for now I'm just letting it rack up... I haven't touched it yet and I don't know how long I'll be in this pool. Even though it's "my" BTC I'm also running this company because I love bitcoin and I love computer hardware. I'm not some greedy guy who's stashing away coins. A lot of coin and cash of my personal money is about to go into a project that will guarantee LRM is here to stay. Yes I could close up shop, but then I'd have a bunch of angry bitcoiners busting down my door and I would never be able to show my face in this community again (I like it here). On the down side... The wonderful news is likely going to be 4 weeks before I can officially announce it, but hopefully I get the BFL Monarchs in before then.  |
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I threw a comment in there to show I'm still working. |
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I HAVE ALREADY ASKED, WILL ASK AGAIN:
1)On what pool LRM is currently mining
2)What about merged mining?
new questions:
To date LRM have paid about 830 btc.
That mean about 276,66 went to LRM(25%)
Currently it mean that around 250k USD have been gone just from dividends.
LabRat;
3) How much from this 250k will go to HW reinvestment?
lol you must be new here The first rule of LRM is you do not ask any questions of LRM! This is not Fight Club, you can ask questions. I just may be a little too busy to answer at that exact moment. But I do have a very simple answer for this. Do you honestly believe a business owner would got months without using any of the funds they're bringing in... Those 276.66 BTC aren't still sitting in my wallet or I'd have a little more to play with than I do at this moment. Trust me though. I have very great plans for LRM. |
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Divs paid!
LR I have a question to pose... have you seen the Black Arrow Minion chips? Have you seen the MrTeal Chili miner based on BFL chips?
The US re-seller has a thread up today about getting people in line now for Minions... just spoke with him and got in line for 8 chips but he is not requiring the 20% yet.
Chips are due in Feb 24... and I have asked MrTeal (designer of the Chili BFL miner) if he is interested in designing for this... he seems like he might do so.
Chips are suppose to do 96GH/s minimum as spec'd, with a possible 115GH/s OC'd within reason and a top out of 128GH/s but with lots more power draw. Depending on MrTeal picking up the board project and how he plans to lay out the chips... that could be a 1 TH board... his 8 chip BFL Chilis are pushing 40 GH/s with proper fan/heatsink cooling. I can only assume his solution for an 8 chip minion would be able to handle 1 TH/s if cooled properly.
An 8 chip minion could possibly run about $2000 if MrTeal has the same turn around as the Chili boards. I do not know for sure if that will be the final cost... all I know is Minions are $199 each from the re-seller plus 5% handling, and the Chili cost $350 + shipping to populate with your own chips.
Yes I know MrTeal, and yes I know of Black Arrow, but when you're managing money of your own it's slightly different than yours and 350+ other people. There is a certain amount of risk you have to be willing to take, but manage risk and reward appropriately and don't throw tens or hundreds of thousands at every project that someone starts up. I believe I've found a solution to all of LRMs hardware acquisition problems. Someone actually came up with an interesting idea that I kind of like. Lets put odds on different companies just to see where the public rates all of the "pre-order" projects that are going on right now. |
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grnbrg is sort of AFKing it today so I'll post the dividend info. Mined: BTC29.21108482 Payout: BTC21.90831362 Per Bond: BTC0.00039411 LRM Payout to date --------------------- Total: BTC830.82242567 Per Bond: BTC0.01653251 I'm really looking forward to 12/8 as it will mean a lot of great things for the company (let alone a little pay bump for me  ) I received good news yesterday regarding the same subject I was speaking on last week (the not so good news I received) It appears the project I'm getting involved with is going to move forward. I will not be able to give any details on this until I know specifics which could be a little ways down the road (no Two More Weeks jokes here please...). I just want everyone to know that big things are happening behind the scenes and I don't believe I've let you guys down in the past. You're just going to have to trust me on this one. |
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Great news everyone! It's dividend day!
Seems kinda quiet around here for dividend day... This is a forum... Text isn't exactly loud... *Test-to-speech enabled* ahh, better LR!! Top o' the mornin' to ya! (well, afternoon where you are) Ya, it's now 2:18, finishing my last minute updates to the spreadsheet before divs get paid out. |
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Great news everyone! It's dividend day!
Seems kinda quiet around here for dividend day... This is a forum... Text isn't exactly loud... |
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These aren't aimed toward your average individual... $10k buy in on 1 rig....
Is this code that it's aimed for... a mining farm? Our mining farm? The timing of LR's big surprise and the KNC announcement on the same day springs all sorts of conspiracy-mongering to mind. But correlation does not mean causation. It may have been one of the things I knew was going to happen today, but the news I got on the other front may be a bust. Going to be another couple days to figure out what's going on, if we decide to go that route... I'm really hoping it works out though. |
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The frustration!!! Oh man.. I can't use PayPal, and I have not enough coins! (..and their site says PayPal!) grnbrg, you around? getting one? bkm? These aren't aimed toward your average individual... $10k buy in on 1 rig.... |
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