It's still a great performing chip.  It's like 6 watts for 11gh.  But that's not optimized.  Once they tweak software and such, it'll do even better. 

Where did Havelock say they'd import for him?  Have a link to that?

I'd be curious if AMC could get on Havelock simply because of the way Havelock investigates a company to make sure they are legit.  Given that Ken produces almost no information for shareholders and often gets things wrong all the time, I'm not sure he'd pass their checks and balances or at the very least give them the information they request of him in a timely manner.

Anyway, banging a drum over which exchange to use is meaningless until Ken gets the verification thing done.  I feel like I'm waiting for the sun to burn out before it'll happen, let alone when he then takes that information and puts it on an exchange.  The way it's going, Colored Coins release version 9 will be out by then. 

I will hold off on judging until they tell us what the state of the chips are.  If they've come back, work as expected, and they don't have to make any major changes to anything, it's quite possible they can deliver on time.  But like everyone has been saying, the stars need to align for it to go off without a hitch.

It's a scam.

I lost money on this too.  By saying he upgraded to Titans he can drag this out for months longer before vanishing.  Plus they aren't even in the same price range are they?  So how could he afford to upgrade to them and still compensate everyone who purchased a percentage.

He's provided no evidence of anything and hasn't even put the list together.  Even if by some miracle he was legit and just lazy like that other dude said he was, the odds of this lazy guy actually distributing profits to everyone are near zero based on his terrible management skills so far.

Just one more loss for me in the Bitcoin universe.

What's been presented is circumstantial evidence at best.  Without proof it's still up in the air.  Get some proof for them or against them.  Save everyone a lot of drama... 

Who cares who you are and what you did?  Whoop-dee-doo...  Here's an idea.  Go find some evidence that they are or aren't a scam and post it rather than just sitting in here guessing and allowing people to either lose money, or sit in fear that they might lose money.  Otherwise, you guessing that they are a scam and wanting credit for it is super-dumb.  You won't get it.  Nobody cares about your ego.

You want to out them, you want to be a hero, then really out them or prove they are legit.  Do one or the other.

In the meantime, everyone should remain highly suspect and cautious of doing business with them.

Great.  I have had faith that they will come through for us.  Hopefully that ends up being the case.

I think though that people shouldn't bother pointing at existing numbers for anything.  Until they ship the price of Bitcoin is going to be up and down.  What is a factor today may be twice as much tomorrow, or half as much.  Just have to wait and see.

Hopefully though this good announcement won't be followed by a delay announcement.

Because people on the fence who might buy a share from him would do what you just did and check his history.

There's also the complete possibility that he did indeed buy the miners but is going to keep the coins to himself.

There's a BF list of folks who own shares, but I have not seen a posted copy of the tender list.  

Here's how to sign a Bitcoin message from an address you control ->  https://www.youtube.com/watch?v=S88ciN9DsRk

Ken needs to have the Bitfunder Tender list.  Which shows the people (like me and many others) that moved our shares to AMC-TENDER.  With repeated questioning, Ken has not answered whether he has this list.  He has asked that people login to Bitfunder and take screenshots of their trade to AMC-Tender to help prove that they did.  Which kind of tells me that he doesn't have the tender list, because he wouldn't need to do that otherwise.  (Which others have also pointed out.)

I look forward to the day I have my shares so I can immediately sell them and take whatever satoshi I can get for them.

Yeah, I liked it, but lately it's been spotty and I went back to cgminer. 

What a bunch of baloney.  They get DDOS and people might hurt them.  Somehow this doesn't bother Josh at BFL or the guys at KNC or any other real company involved in mining.  We even know who runs MtGox and I'm sure a lot of people would like to put the hurt on him.

You have no basis to say they are legit.  The Ebay thing means nothing.  They could send you something from anywhere as PBMining and get positive EBay feedback. 

If they are asking you for money, you should know who they are.  Only in this crazy Bitcoin world do people just hand over cash to total strangers and hope things turn out ok.  It's bonkers.

They run "out of stock" because they have to distribute the funds by hand.  Which whether they are legit or not seems to be what they have admitted they are doing.  That's a long process, so the more people who buy in and get added, the more work they need to do to distribute funds. 

I get what you're saying, but that's nonsense.  Then every single business would be a money transmitting business and be required to file for a license.  That's not how it works.  The Government sees Bitcoin like it sees bricks.  If LRM handed out bricks it wouldn't need a money transmitting license just like it doesn't need one for bitcoin.  The reason folks like Mtgox got nailed was because they were depositing fiat/cash into a bank account and then wiring that to people.  They were transmitting money through the banking system without a license to do so.

This Bitcoin business is like Warcraft Gold to the Government.  It doesn't matter until you cash it for Fiat.  Then they want a piece.  And it's not up to LRM to declare anything about that.  It's on whoever cashes out the Bitcoins to do it. 

I think everyone is trying to look for reasons why Labrat has a good excuse for what is going on.  He might, but guessing what it is isn't helping.  It'd be better if he told people otherwise it appears he's hiding something.  I can't imagine what on Earth a lawyer would be able to write up about this except terms of a new contract that we would have to either accept or go to court over it.  What else could it be?  The lawyer isn't going to be writing up some big excuse document.  "This is why LRM can't do what they said they were going to do after taking your money."   

I believe something probably went wrong.  LRM speculated and lost, or invested in something that failed, or partnered up with someone who blew a bunch of cash for no results.  There probably isn't any new hardware, it was probably scammed out from under him or some embarrassing thing like that, and dude can't come clean about it because there would be pitchforks and torches.  So instead he's pointing to nonexistent legal issues and saying they are the reason why we're not all getting 2gh per share right now.   I don't believe for a second it's a legal reason, because there are multiple similar operations currently up and running and doing the same thing this one is, and they aren't having any problems.  So I don't buy that it's a legal issue.  If it was, we would be able to see the Government's demand letter.

LRM is NOT a money transmitter.  A money transmitter is a business that acts between payer and payee.  Paypal is a money transmitter.  The only thing LRM is doing is letting us buy hashing power that results in Bitcoin distribution based on our share of it.  The same thing CEX or Cloudhashing or any other cloud mining service does.  The reinvestment for more hash power is also part of their strategies as it is here.  No difference and not illegal.

I think there are real concerns that everything is fake and made up.  Labrat hasn't taken any photos and refuses to even talk about the hardware order that he likely has right now or never bought which would bring up questions about where the money went to.  This has nothing to do with lawyers writing anything up.  It's about being shady and creating suspicion about what is really going on.

Lawyers might not get anything suing him.  Then again, it seems unlikely LRM will go to whatever jurisdiction and fight this out in court.  He'll ultimately get a lien on his property if he doesn't, and his future wages can be garnished and property can be seized.   It depends on how much is won in the judgement and his willingness to battle it out in various courts.

Look anyone that actually is conversing with a lawyer, which is probably nobody, is first going to send LRM a demand letter.  Between getting that ready and giving LRM enough time to respond to it before further action is done, means that by then whatever Labrat has got going on, can be produced.  We're talking a couple months from now.  The alternative would be to wait weeks longer, possibly, and not get any further info from Labrat.  And then start the long process of the demand letter.

So I would recommend continuing the legal approach.  So that if nothing develops, you're well on your way.  There is also a high degree of likely-hood what whatever Labrat's lawyer produces is not going to meet with everyone's satisfaction.  So legal options will likely have to sort it out.

That's all well and good, but if you look at your time stamp and my time stamp, I checked it almost an hour after you posted that it was up.  That's some long 23 minutes.  Good to see it's faster than that.

375gh... 

 

Boards don't take that long.  That's something that can be turned around in a couple days.  Finding a fan they like and getting the manufacturer to ramp up to send them enough is going to take longer than the boards.

I'd be more concerned about the chips coming in and being not-right.   Like what recently happened to BFL.  That set them back 5 weeks or so.  If BA has that happen, game over...

Their previous update has said that the chips may be 4 or 5 days later than they wanted.  So it's already a sure bet that we're talking May 5th or 6th if everything backs up because of that.  Sticking to their existing time line.

I think it's possible, but again, everything has to go perfect which hasn't happened to anyone except KNC, and then they had a number of quality issues on the first units that left the building.

I think the point is, anyone saying the company is legit doesn't know that to be true except the owners.  Since they apparently do not show anyone their hashing power and have refused to show it, etc.  They are pretty closed down and there is very little info about any of them.

It's quite possible that you could earn your money back and then some.  It depends on if you got in early enough and if the Ponzi is growing.  So long as it grows, they can keep feeding people.  So you COULD make out, but you'd be in a minority. 

I bought in as well, so am just concerned that they'll take the money and run as anyone else.  I hope it's legit, but I refuse to invest any more money in it until I see evidence that it is.  So far, I haven't seen that.