Actually starting Dec 9. Our bonds will be worth at least 20,000,000MH/55561 (Bonds) = 359.96MH/Bond
Woohoo, I'm doing good then, a used 5830 would have been at least 0.5btc when I bought in, and AM BE USBs were probably still a whole coin.  Shouldn't that be 5,000,000M/h in hand plus at least 30,000,000 M/h of new equipment as below. (But in real news. LRM has about 12-13TH up, another 17TH going up by end of day Tuesday and I believe only one more shipment (maybe 2) from Dave of an unknown size before the 14 day period officially begins) that would be 35,000,000 M/h / 55561 = 629 M/h per bond. please correct me if I am wrong. :facepalm: Don't people bother to even try to look for answers before asking questions? From 4 posts back: (Hardware) will start rolling in next week and what it accumulates between time of arrival and 14 days after it is all received will 100% go into additional hardware. 100% * of the Bitcoin earned by the new hardware, between the date it arrived and was plugged in, and December 9th will go to purchase of new hardware. The next 3 dividend payments will be taken from the original ~5TH/s that has been running since early October. The new hardware is an additional 15-20TH/s. * Based on the proposition posted at LabRatMining.com, it may be 100%, less a few percent for electrical costs and rent. grnbrg. So between 20-25TH it looks like based on grnbrgs post. |
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Like I said, carry-on in the wrong thread about things that shareholders hold no part in.
It doesn't matter how much you squeeze your eyes together and wish that this isn't the case, it is. And based on past posts of most people speculating in this thread I'm extremely happy about this fact.
Please spell it out to me. That 'what' isn't the case? Also what fact are you happy about. I genuinely struggle to make sense of what you write sometimes. No disrespect. Sorry if it was a bit cryptic, I'm happy that Ken is in charge of deciding when to cash out the BTC and not the speculators in this (the wrong) thread or any thread for that matter. That should clarify  I believe he's pointing out that there are places on Bitcointalk that are specifically for price speculation. I guess you could copy and paste that price chart in every thread on the site and argue its relevance.
Bingo Exactly, because this thread is specifically about Bitcoin mining and purchasing more miners with profits made by selling those Bitcoin.
Bingo x2 I'd actually never heard it before ... it made me smile knowingly (in a 'yeah I've been there' way rather than a 'I have a really good grasp of trading' way)
The first time I heard the quote I did the same hah I apologize to those that continue to write off topic in the wrong thread and feel offended when asked to take it to the correct one. |
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Like I said, carry-on in the wrong thread about things that shareholders hold no part in.
It doesn't matter how much you squeeze your eyes together and wish that this isn't the case, it is. And based on past posts of most people speculating in this thread I'm extremely happy about this fact.
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We'll see that by Dec, 9.
Still, $90 price estimation, same return with $600 price BTC? and after he kept 200+ BTC from his 25%?... 6x the price, all the 25% and not a single TH extra?
Information... the documentation with the hashrate, yield, difficulty hasnt been updated in 50 days and its actually only accessible up to Aug, 31. Inform the people who lent you the money to start, regardless of how stupid we were back then.
This is BTC based, hashrate isn't instantly purchased...... when this hashrate had to be paid for, BTC was only around $130 probably. Are you new to mining equipment purchasing? That 25% was used towards costs, some reinvestment probably, and himself. You still failed to read again, some of that money went towards monarchs which are estimated to ship mid December I believe was the last from BFL. |
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I suggest that i dont know what is he doing at all in any lvl, i dont know what he has, what's coming, what's he producing, what's he getting, what's being paid, what we should expect and i know what we put in and what we got out.
He offered a 360mh/bond with $90 BTC, we're at $600 btc with 80mh/bond, do your math.
Actually starting Dec 9. Our bonds will be worth at least 20,000,000MH/55561 (Bonds) = 359.96MH/Bond |
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Thanks, i can read pretty well.
I still don't know if those 15-20 were paid or plan to be paid with the 14 days produce or how or when or anything. The fact its simple, i'm not seeking your replies, i want Labrat to address this, yours and mines are just guesses, i appreciate you taking the time to answer what the person in charge should have kept clear to start with.
You think he got mining gear on consignment? LOL Sorry but all the gear that is currently hashing is already paid for. Still kind of boggled that you suggested that he might be mining without paying for the gear. |
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Amazing how to turn a perfectly legible msg to a mess of reply. Are we in kinder again that we need to explain each sentence?
Info, i just request information, where are we standing, what's hashrate, what hardware its coming, what's ordered, financial info, soon.
Not sure if you refuse to read or are just trolling Where we are standing: 5TH being paid out - 15-20TH extra up and hashing currently going towards reinvestment until Dec. 9th based on how I read grnbrg's last report. The only hardware that we know is coming would be the Monarchs at this point in time. I apologize if this isn't the answer you want, but it is the answer to at least two of your questions. |
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Just for FUN  icedrill.io domain name still availableICEDRILLIO got a nice rhyming ring to it  Rhymes with Millio, Billio, Trillo LOLLIO even.... Could also be read as ICE DRILLIO - hint hint ICE Breaker  My goodness, even goes with Willio!!PS. British Indian Ocean Territory = .io Chuck us a bone here... Ya what's the dealio? |
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Currently you only pay taxes if you cash BTC in for USD, since I suppose he bought all of his gear with BTC and since you deduct all expenses (What he had to Cash BTC into USD for) Taxes would be negligible. This is just one way of doing it. Maybe he will claim a value for the BTC equipment. If the value is the same that he raised again this would be an expense. However he might have to amortize this. Why does this ensure that we will likely get a 100% return? Because LabRat is still working for shareholders to get hashrate quicker than difficulty can increase. If you noticed I said likely, as in much more likely than if he didn't. What is the investment plan that ensures this? This has been stated many times about the "current plan", going forward part of the 25% will be used. If you want more details than that I will kindly point to your own words here LRM doesn't have to (and won't) answer any basic questions on the fundamentals of their business. What are the price points and difficulty projections? This is something for shareholders to speculate over. Lab Rat likely isn't going to try and release speculation as he has not done so in the past. Will revenue exceed expenses? If it doesn't then he will shut this project down as stated in his prospectus, the one you bought into. But yes, revenue will exceed expenses for a long time considering the price jump of BTC. It was exceeding expenses prior when it was only $130/BTC What is lab rat's fee and how will that affect long term profitability? It's part of the 25% you agreed to. LRM doesn't have to (and won't) answer any basic questions on the fundamentals of their business. He needs to get paid, is he being paid enough to keep the program running? Again, he stated that if it becomes unprofitable he will close shop, again something that was agreed when you purchased the shares. Thankfully this doesn't appear to be happening in the near or distant future with the information we've already been provided by grnbrg. Does he have investment/options/buy-in that is affected as well? No, or at least I highly doubt it. This is a mining bond of sorts, it pays based on hashrate not his investments and I highly doubt he used any funds outside this intended purpose. Of the $1m we gave him, what did he do with his person $200k? What was the plan for the other $800k of hardware we bought for him? Can LR hire someone (or outsource) management of the business so he can concentrate on hardware? Not sure if I understand this question, he's obviously running 15-20TH worth of gear currently, has stated he has quite a bit of Monarch on order. Do you think he didn't spend this money on gear? |
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I'm curious to know how much power Bargraphics is using for that payout  Going to have to ask KnC All hosted happily with them No one said they are worried about a 25% attack, this is conjecture. But why choose ghash.io/cex.io when they are obviously becoming a large part of the network, why help them when there are other pools that offer the same service?
If wizkid reached 25% I would move sure, takes two seconds. If I had maybe 7-10TH more hashrate I would be solo mining and not even worry about a pool.
I see this kind of thinking on here a lot, even from people who I know to be very intelligent (Bargraphics, for example ), but I just don't understand how you get there. It seems to me a logical conclusion that the pools that attract the most users are likely to be pools that are doing whatever it is that miners need/want them to do. Do you really believe that integrity of the bitcoin network REQUIRES that miners intentionally choose pools that are less successful at attracting miners? Isn't that kind of a contradiction? If it's true that the bitcoin network literally requires this kind of behavior on the part of miners, the bitcoin network is doomed, and rightly so. I suspect that if mining continues to be a centralized affair such as it is now, it may really be the death of the bitcoin network - but don't fool yourself into thinking that encouraging miners to mine on small pools will help the problem - at best, you are discouraging pool operators from competing aggressively, and becoming the best that they can be. As I have said before, I believe that the only possible real solution is distributed pooled mining like P2pool. I believe that some distributed pool will eventually emerge that will be good enough and attract enough users that it becomes the 'best' pool (however that is defined), and then the integrity of the bitcoin network will be safe for good. In the short term, trying to pretend that some miners making a conscious choice to 'save' the network by choosing smaller pools arbitrarily is just self-delusional, contradictory, and will result in pools that are less responsive to the needs of miners. If you really, really want to 'save' the network right now then design the perfect distributed pool. Otherwise, make what money you can until someone else does. I agree with you, but I try to do my part in educating people about various pools. If people get scared, irrationally or rationally, it effects BTC Price. If BTC price goes down because of this fear then it effects me so I try to help people realise that you don't need pretty pictures to mine. You just need a pool with great uptime, decent stats, and frequent payouts. I also try to educate people that BTCGuild is taking 3% of your hardearned money. That Ghash.io has a sister site CEX.io and you can draw your own conclusions on how much of the network they have between themselves. People will choose what they choose for the reasons they choose but hopefully with a little more education they can make an informed choice. |
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The next 3 dividend payments will be taken from the original ~5TH/s that has been running since early October. The new hardware is an additional 15-20TH/s.
We just had confirmation that the 14 days is starting and the official LRM shill just told us how much is mining roughly. This is great news as BTC price has taken a large jump meaning that after this 14 days if prices stay the same for mining manufacturers as advertised we will be getting more than triple what we were expecting considering it was ~$200/BTC I believe when this plan was made. For those that are impatient and don't want to wait then yes this is a bummer and you won't be able to sell your shares for a while at a decent price. For those that bought LRM to hold for a year or so, this is very good news and only ensures us that we will likely get 100% return + still have our shares to sell in the future. I for one am excited. |
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A fun relevant quote:
"The market can stay irrational longer than you can stay solvent."
Let's just let this dead horse lie, Ken will do as he wants regardless of what we speculate on this thread.
1) That quote is very very well known. It is used completely out of context here so doesn't really help us - except to let us all know that you are aware of it. 2) I don't think you should be deciding when we stop talking about a particular topic - especially when it is a topic raised by another poster. If it's your own topic that would be fair enough. 3) Ken has always listened to ACtM holders on here. The company is structured as it is because he listens to his shareholders. I believe we have a fundamental disagreement between each other due to what we've already experienced/accomplishments we've done in our lives. Please carry-on off topic even though there is a thread dedicated to speculation on ActM/BTC prices/when to sell/etc... |
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Sorry to repost and add:
From the labratmining.com, considering the 55000 bonds sold and prices at $90 per bitcoin:
24.1 @50,000 bonds sold
29.5 @60,000 bonds sold
We're still at 5 and we're devoting 15-20 TH to buy new hardware.. where's the 24TH missing based on the IPO, wich with the current 600 value should be way more than 50th... I'm seriously loosing confidence on this, así of a LOT of my invested money in form of BTC.
And as i see.. the person in charge doesnt have 5 minutes to explain the current situation anywhere?.
Also, there's no proposal posted in labratmining.com to pay for cost and rent right now.
Relax, I'm sure news is coming soon. |
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I think keeping them as Bitcoins until we need them to be converted is the best bet. Why? Because day trading loses money and trying to guess the best "out" is a waste of time. Overall Bitcoin goes up so leaving it until the last minute to sell is the safest option, it's possible that you get unlucky and the price drops at that time but that is the nature of the market.
TL:DR, Don't day trade, don't guess the market, just keep them until you need fiat.
EDIT: Also by doing this Ken does not have to worry about the wrath of the shareholders if he gets them into fiat at a bad time, because the money was needed and that would not change. If instead Ken starts guessing the market and fails, then everyone is going to be angry he lost money.
If Ken's algorithm for selling the Bitcoin is to wait until its needed, there is no room for error, because shit happens and you move on. If Ken's algorithm is sell high, I promise you everything will go totally wrong.
I used to day trade, but stopped because its stupid hard. I left that game with a small "not worth my time and hassle" profit and have never looked back.
Fully Agreed, this is the logical/rational thing to do. A fun relevant quote: "The market can stay irrational longer than you can stay solvent."Let's just let this dead horse lie, Ken will do as he wants regardless of what we speculate on this thread. Hopefully the timing aligns with a decent price. |
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Again, please try to choose any other pool at isn't currently 24% of the network
ya, choose a pool that takes hours for each round.... not me! I'm not in this for charity.... I see you atop Eligius page........ good stuff....you sayin' you'd move when wizkid reaches 25%? Only a month ago, everyone was worried about a "51% attack", now it's 25%? What will it be next month? Judging from your previous posts you are mining 24/7 and not quitting anytime soon. Quite the opposite. You have your moneys ready to be spent on more miners. If this is the case it makes absolutely no difference whether you are using a large or a small pool, assuming their fees and uptime are the same. Really. No difference at all on the BTC earned. This pretty much. I get paid once a day by eligius ~6BTC why would you want to get paid any sooner? No one said they are worried about a 25% attack, this is conjecture. But why choose ghash.io/cex.io when they are obviously becoming a large part of the network, why help them when there are other pools that offer the same service? If wizkid reached 25% I would move sure, takes two seconds. If I had maybe 7-10TH more hashrate I would be solo mining and not even worry about a pool. Tin Foil Hat - How do you know CEX.io isn't mining on their own solo pool + since they are tied in with ghash.io, maybe together they have an even larger majority of the network than we think. Impatience and lack of understanding isn't a reason to not mine at a pool with less % of the network. |
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Are you sure you're posting on the right thread?
I think Minerpart is trying to convince Ken not to sell ActiveMinings 1200* or so Bitcoin. *Ken gave hints but has not confirmed that the Avalon refund still remains as a Bitcoin asset or if it has been converted into a fiat asset. Indeed. Last night I would have sold at $600. With the very strong bounce at $450+ I would have re-bought at $600 on the way back up so as to not lose anything. Every wanna-be investor always says "I could have, should have, would have" when looking back. We don't need captain hindsights in this thread even less than we need speculating on the BTC price. You are doing no one favors by trying to act the part of a day trader. This isn't meant to be offensive, just reality. Anyone can trade looking back. Let us clear this thread for actual relevant posts and use the Speculation thread for BTC/USD Hindsight/Guessing Games. |
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I have been reading the thread and trying to find out the best pool for a Nov order, so I can preconfigure my miner. I have started a poll on new thread.
Can you please vote. Thanks in advance https://bitcointalk.org/index.php?topic=341888.0As far as I am aware Eligius and Ghash.io are the only 2 pools that: - have fast enough speeds that you don't have no worry about variance
- have zero fees
- have merged mining (Eligius gives you 105% NMC while GHash.io gives you NMC, IXC and Devcoin)
- TX fees are shared between miners
So for a maximum profit these 2 are the best pools. there seems to be no option to choose ghash.io in the preconfigure pool menu on the KnC site / order page, which is a problem. unless they are easy to configure. ROFL= about variance... I may try .io if there were a good set of directions....the wiki is vague. Again, please try to choose any other pool at isn't currently 24% of the network |
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There is also something new called 'bitshares'. Something similar to mastercoin it seems, except it is a new cryptocurrency based off of RAM mining, so it's very different in that regard. It's an interesting project by Invictus Innovations, I've heard the interview from Let's Talk Bitcoin. They're trying to develop a decentralized anonymous internet and a decentralized securities market. It'll probably be a while though.
They had a presentation at the Atlanta Bitcoin Conference. It was extremely interesting and they are moving forward with it very quickly. It's great that all of these projects are underway. May the best one win! |
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Why mine at any other pool when Eligius is 0% Fees?
Downtime. I guess you could do elig + a backup pool. Not sure I've experienced any downtime in the past month or so that was caused by eligius. And please tell me, why do you mine at Eligius? Such an ugly site! That Wizkid and his pool.
I mine at eligius because with 11 Jupiters, 3% Fees would have been over 11 Coins already for me that I would have given to BTCGuild or other pools. Why mine at any other pool when Eligius is 0% Fees? Because you like pretty Stats? Not worth all that lost money. Also 105% PPS NMC helps out, get an extra coin or two per month. Pool basically pays you to mine there Ghash.io has 0% fee, pays transactions to miners, and merge-mines NMC, IXC, and DVC - and their stats page seems to be very reliable. Ghash.io has made it extremely clear that their fee is "currently" 0% and could likely change it in the future. They are directly connected to CEX.io and have the majority of the networks hashrate currently. Unless Eligius gets too big I don't plan on switching and would sway others from joining a pool that currently has 24% of the network https://blockchain.info/pools?timespan=24hrs |
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And please tell me, why do you mine at Eligius? Such an ugly site! That Wizkid and his pool.
I mine at eligius because with 11 Jupiters, 3% Fees would have been over 11 Coins already for me that I would have given to BTCGuild or other pools. Why mine at any other pool when Eligius is 0% Fees? Because you like pretty Stats? Not worth all that lost money. Also 105% PPS NMC helps out, get an extra coin or two per month. Pool basically pays you to mine there |
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