Instructions... look at asset listed posted, find address with convenient number of shares (1, 10, 100, 1000 etc) enter it into blockchain.info to see the transactions, photocopy your monitor to record list, then type it all into VisiCalc on your Apple II and do fancy shit.

I would suspect Lab_Rat will just nullify the contracts, and everyone's divs will go up a tiny percentag.



grnbrg.

Fair enough, so the generated income goes into the ether then? Seems like a waste to me (cutting off the nose to spite the face sorta thing).
I've invested in worse but I do understand.

Regarding DEM transactions

I mined block 151,165
I waited for the block to mature.
I withdrew 5.00 DEM to address NXyGNYtsZ9PnYcmUgSt13eVu64PXT3JaAT
The transaction was queued and went out immediately.
TXiD 4a438b67095006e862ce03ee402cf4d8e5f882e58c0da5c8a7770bbd757aa2d1
Outgoing block id 151,298

DEM block explorer, in German.

Fuck.

I hate it when I moron.



grnderp.

Option A.  He's working on it now.


grnbrg.

Craptsy has a record of holding coins your for days to weeks when the price is on the rise and then returning them when they are in the shitter.

We're thinking the smart move is to ebay as many of these as we can right now and switch the group to one of the A2 60Mhash miners.  If we can sell them quickly enough we should be able to net enough funds for the upgrade.  What sayeth the group?

Those of you deep into this debacle need to step up rather than hide and hope LR has your best interests in mind...

Cowardice for the sake of profit is still cowardice.

It's now official, CoinEx ran with the money or a clever way to say it...

"The coins were used as salary"


Those guys should be hunted down like the dogs they are!!!

Yah that's pretty close to ad hominem or close to a moral high ground or appeal to authority type fallacy by insinuating the level of ownership relates to the validity of the opinion.

price is spicy ! without the cost of psu, cooling & shipping.  hope it can be more affordable & competitive.

No, I was an early supporter of Lab_Rat and his program on the BFL site, this site and elsewhere and I wish to make it clear that I no longer suport his program and wish to warn current users and potential users of the pitfalls.

I have heavily involved in the Bitcoin and cryptocurrency world in general and have as much stake in the outcome of this debacle as a paid user.

Although I considered in vesting in Lab_Rat's operation I chose not to because I saw little point in investing through a third party in vapourware which would not show up and get to work mining in a reasonable period of time.  Instead I opted for atlcoin miners using readily avaiable mobos, PSUsand GPUs, which while occasionaly subject to out-of-stock delays could nevertheless be placed into service within a few weeks at most of my or a client's investment.

I was not so mean as to include a cluase in my agreement which said that if things go South, you can't sue me.  (By the way, I ran that clause past my attorney who is a retired District Court judge, who giggled a bit and told me that one would last right up the time it hit the first courtroom because it pretty much goes against public policy)  What I did do was include a clause which stated that if the law changed such that the public mining operation became to expensive to continue or impractical taht the "investor" or "mining partner" could keep the crypto mined and accept one of the two following options:

(1) Receive a full refund in whatever currency the original investment had been made.

or

(2) Have the equivalent amount in equipment sent to them provided they covered the shipping costs.

Needless to say, when I notified my mining partners in a timely manner of the changes without doing a dance like Lab_Rat, most opted for a straight refund.  Some of my people are disgruntled; Hell, I'm disgrunteld by the rulings and required steps to stay in compliance but you don't have people coming in here howling how I wouldn't return their money, do you?

I took care of business without doing a dance that no one could follow.

Why did I close my public mining operations?

Because the law changed and mining operations such as mine and as Lab_Rat's become Money Transmitters and Money Service Businesses under the March 18, 2013 FIN-Cen ruling and subsequent rulings, if you doulbt me, read these and weep:

http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

http://www.fincen.gov/news_room/rp/rulings/pdf/FIN-2014-R002.pdf

"For purposes of the guidance, FinCEN refers to the participants in generic virtual currency arrangements, using the terms “exchanger,” “administrator,” and “user.” An exchanger
is a person engaged as a business in the exchange of virtual currency for real currency, funds, or other virtual currency.

 An administrator is a person engaged as a business in issuing (putting into circulation) a virtual currency, and who has the authority to redeem (to withdraw from circulation) such virtual currency. A user is a person that obtains virtual currency to purchase goods or services on the user’s own behalf.

The guidance makes clear that an administrator or exchanger of convertible virtualcurrencies that (1) accepts and transmits a convertible virtual currency or (2) buys or sells convertible virtual currency in exchange for currency of legal tender or another convertible virtual currency for any reason (including when intermediating between a user and a seller of goods or services the user is purchasing on the user’s behalf) is a money transmitter underFinCEN's regulations, unless a limitation to or exemption from the definition applies to theperson. 8

The guidance also makes clear that “a user who obtains convertible virtual currency and uses it to purchase real or virtual goods or services is not an MSB under FinCEN's regulations."

The ruling makes it clear that both my operations as well as thouse of Lab_Rat would be considered to be Money Transmitters, requiring FIN-Cen registration as well as licencing as a money transmitter in each and every state that has money transmitter laws in which we would do business.

Such licencing is a very expensive proposition involving millions of dollars in bonds and expensive licences.  

I have moven my mining operation into a private corporation which mines for only for itself, which does not distribute the mined crypto to others except in the case of payment for goods or services, thus exempting the operation for m the requirements of the recent rulings.

I think Lab_Rat's problems also extend to having put out a ton of $ for equipment that will not be delivered in a timely manner, thus delaying its effective use.

Lab_Rat's problems will snowball, I think and the results will not be pleasant and a detriment to the crypto community as a whole.

He should come clean right now and get these issues resolved before the whole thing goes down in flames like the Hindenburg!

My $.02.

Unfortunately this group buy is no longer operating with a profit and will be wound-up.

We are winding-up this group buy, as well as group buy #1, #3, and #4.

Process for taking delivery (if you have multiples of 10 shares):
PM me for an invoice for the $99 fee, and will reply with an email address for you to send the shipping labels to. You need to provide your own shipping labels.  I'll post the exact dimensions and weight in an update tomorrow.

If you pre-paid hosting, we will return your unused hosting payment at the bitstamp rate. Give us a couple of days to let the dust settle and we'll get it out.

If you have less than 10 shares or if you don't contact me for shipping arrangements; we are buying back the shares at .035 each. We will complete the buyback on May 1st for Group Buy #1 -Group Buy #4 so please get in touch before then.

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 am still amazed that anyone would invest into BFL that much