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Updated a week ago on the LRM website, I read that the cex.io disaply is for the LRM hashrate. But it still only shows 2.85GH. To state the obvious, it's should read at least 23TH. When will this actually reflect LRM's full hash rate?
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He is out of town, and connecting where he can via iPhone...
That said, the current hash rate is reported to be 23TH/s, and some bad pool luck this week. Not much, but that's what I've got.
grnbrg.
Any chances that the pool mining will be made public for those that funded the purchase of the hardware? |
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Another stab at what dividends should come out to theoretically. The website indicates there is NOT 25TH available, but rather about 20.95TH:
From labrat's website: "Hashrate: 5.45 TH/s + 15.5TH/s mining for additional hardware"
So...
5.45TH @ 707,408,283 difficulty x 1.5 days = BTC3.8745/day x 1.5days = BTC5.81175
20.95TH @ 707,408,283 difficulty x 1 day = BTC14.8939
20.95 TH @ 908,350,862 difficulty x 4.5 days = BTC11.5991/day x 4.5 days = BTC52.19595
-----------------------------------------------------------------------------------------------------------
Total: BTC5.81175 + BTC14.8939 + BTC52.19595 = BTC72.901652 mined (theoretical)
BTC72.901652 x 0.75 = BTC54.676239 to dividends
BTC54.676239/ 57350 bonds = BTC.00095337/bond <---- theoretical yield
Actual paid:
BTC0.00076112/bond
Difference (theory - actual):
BTC.00095337/bond - BTC0.00076112/bond = BTC0.00019225/bond
0.00019225/.00095337 = ~20.17% below theoretical.
This could be due to bad luck. It would be nice to be able to view the pool results.
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If I recall, there was more than 2 weeks mined. He just "officially" started the 2 weeks ago, 2 weeks ago, I believe he was receiving equipment to mine with before, I think that the mining without our dividends is actually closer to 3-4 weeks, but not all of it was up and running during the first week, I think..
I just wish things were more transparent.. If your running an honest operation (which I think and hope Lab rat is doing) being transparent should be the first thing one should do. It will explain things like this....
+1 |
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Does anyone here know where to view the pool labrat is mining? It would resolve the many questions. Transparency was suppose to be important to maintain.
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Labrat. Make sure your calculator wasn't set for decimal and not octal!
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Labrat.
Would you describe how our calculations are amiss? We are coming out with 30% to 33% below a calculated expected dividend. Was it bad luck? or Was the 25TH not mining for 5.5 days but rather something like 4 days?
Please double-check the dividend math on your end.
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yep... 0,000761125 BTC per Bonds. Remember, Monday was a day with a diff at 707,408,283... According to BitcoinWisdom, 25TH/s bring daily ~ 13.84 BTC at diff 908,350,862. So : - 1 day at 707,408,283 : ~17.77 BTC- 4.5 days at 908,350,862 : ~ 62.28 BTC ( 13.84*4.5) (62.28+17.77)*0.75 = ~60.03 BTC60.03/57451 bonds = ~ 0,00104489 BTC... Sorry but something is wrong....my math or...  Because 0,000761125 BTC per bonds is ~43.72 BTC for 5.5 days after the 25% cut... Don't forget to add in the 1.5 days before @ 5TH. I just left Monday at 908,400,000 ... and even still come out with about 33% below expectation! |
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Divs were paid out. How much were people paid per bond?
...and how do they compare to a per bond calculated expectations? Calculate:
(25TH @ Difficulty 908,400,000 @ 5.5 days * 0.75) / 57350 bonds?
I come out with an estimate of:
(BTC104.125 * (5.5/7) * 0.75) / 57350 bonds = BTC0.00106991/bond
If my bond # has been updated, then I show 0.00076112545 / bond. Of course, at this time of day I'm somewhat prone to error. That appears to be the same number I came up with. About 25% below calculated expectation. Unless there was a lot of bad luck, that isn't representative of 25TH @ 5.5 days. Looks more like ~ 25TH @ 4.2 days. I ran this just using coinwarz calcs with no electric costs to get an idea of what 5.5 days @ 25TH and 1.5 days at 5 TH would yield in total. I got 83.04845 BTCs. 83.04845 X .75 / 57350 = 0.0010860738884045 per bond. Good call. I forgot to add in the 1.5 days @ 5TH. I'll update my post. |
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A single card in a server of course skews the comparison a bit but, I'll add my setup as an example. 6x sapphire 7950's, 3800 kh/s at 1375W (including 14" honeywell fan). I'm currently assembling another 6 x 7950 rig but expect similar to better results. The ASIC quality on a few of the sapphires is subpar. I run my cards at 1000mv and tweak each core clock individually so I end up having clocks ranging from 995 to 1070mhz.
Where are you finding 7950 cards? I haven't built any rigs, but investigated a bit... and everywhere I've seen they are sold out...except maybe one or two on ebay. By the way, I recently saw in Fry's (an electronic department store) a computer advertised with an AMD 8000 series GPU. So, I guess they are coming soon. |
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Divs were paid out. How much were people paid per bond?
...and how do they compare to a per bond calculated expectations? Calculate:
(25TH @ Difficulty 908,400,000 @ 5.5 days * 0.75) / 57350 bonds?
I come out with an estimate of:
(BTC104.125 * (5.5/7) * 0.75) / 57350 bonds = BTC0.00106991/bond
If my bond # has been updated, then I show 0.00076112545 / bond. Of course, at this time of day I'm somewhat prone to error. That appears to be the same number I came up with. About 25% below calculated expectation. Unless there was a lot of bad luck, that isn't representative of 25TH @ 5.5 days. Looks more like ~ 25TH @ 4.2 days. |
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Excited for today's distribution.
I've been thinking more about Scrypt mining (Litecoin specifically). I am not sure it makes sense on a LRM scale anymore.
I used Coinwarz and put in a full BF rig for SHA256 mining + power usage (using current retail pricing) and put in an amount of KH/s for Scrypt that could be gained from the same $ put into GPU rigs and power usage based on my own rigs. The result at this moment in time is Litecoin is only 111% as profitable as BTC. Once you factor in the added cooling and power requirements for GPUs, it is probably a non starter. Although, the drop off in profitability would probably be significantly less and I still doubt we'll see working ASICs in Scrypt that can compete in price and performance to GPUs for at least another year. To maximize Scrypt profitability, LR would have to go chasing altcoins around or pick one of the better alts to focus on. No time for that mess, so LRM should probably just focus on BTC now. The other concern would be can he convert one coin to another to distribute as BTC or not without stepping outside of his legal bounds. My gut tells me no.
In the future, if LR gets more time on his hands, it might not be a bad idea to look into it as a means to diversify and perhaps balance out some bad weeks of btc with good weeks of an alt. I personally would not mind getting distributions in BTC and some other coin. There are at least a few alts that are at the moment promising.
I don't think the cooling and power requirements take as much out of the profit as you think. If LTC is 111% more profitable than BTC on a $ invested basis, then accounting for cooling and electricity might take it down to 100% - just a quick guesstimate. I'll also guesstimate that you can ROI on LTC in about 4 months, if not sooner. That figure will migrate towards ~10 months, which is where I think BTC mining with GPU's started to reach equilibrium (i.e. miners didn't seem to come on-board as much or stay on-board as much with that duration to ROI). Buying and holding has historically been the biggest winner... but I still think there is opportunity with LTC mining using GPU's, despite the supposed coming LTC asic. A single Radeon 7950 at ~700KH/s @ ~500w (I have it in my server that is always on so lots of HDDs,fans and CPU usage etc.) churns about $10 a day on Multipool.us. Depending on my mood and estimates, I also choose to point at Grandcoin or Megacoin exclusively and can net twice that if I wait to cash to BTC at an appropriate time frame. With that said, after power costs and the cost of just the GPU... a 35-45 day ROI on a $300-$400 GPU is totally possible at current BTC prices. I have a 6 GPU rig spec'd that runs almost $1500 and would hash at ~4.2MH/s on scrypt and could pull down right at $60 per day on Multipool.us and even more on Grandcoin/Megacoin depending on the rates and difficulties. That ROIs in less than 30 days at current rates. I was being intentionally conservative with my ROI figure. Fudge factoring in a generous difficulty increase. The conclusion I would be the same: I would consider it still an opportunity. |
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Divs were paid out. How much were people paid per bond?
...and how do they compare to a per bond calculated expectations? Calculate:
(25TH @ Difficulty 908,400,000 @ 5.5 days * 0.75) / 57350 bonds?
I come out with an estimate of:
(BTC104.125 * (5.5/7) * 0.75) / 57350 bonds = BTC0.00106991/bond
[LATE UPDATE: Correction on the above. Calculation should be approximately: ((25TH @ Difficulty 908,400,000 @ 5.5 days + 5TH @ Difficulty 707,400,000 @ 1.5 days)* 0.75) / 57350 bonds.
New estimate would be: ((BTC81.8125 + BTC5.177) * 0.75) / 57350 bonds = BTC0.0011376/bond]
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So.. today its the day with 25Th paying dividends? or next week?
It's today. And keep in mind that Lab_Rat made the switch on Monday, so it's 5.5 days of ~25TH/s divs, not 7. grnbrg. 5.5 days? It's 2PM in New Jersey...and divs have just now been sent. So, you must mean 5.583 days. ..just saying..  |
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Excited for today's distribution.
I've been thinking more about Scrypt mining (Litecoin specifically). I am not sure it makes sense on a LRM scale anymore.
I used Coinwarz and put in a full BF rig for SHA256 mining + power usage (using current retail pricing) and put in an amount of KH/s for Scrypt that could be gained from the same $ put into GPU rigs and power usage based on my own rigs. The result at this moment in time is Litecoin is only 111% as profitable as BTC. Once you factor in the added cooling and power requirements for GPUs, it is probably a non starter. Although, the drop off in profitability would probably be significantly less and I still doubt we'll see working ASICs in Scrypt that can compete in price and performance to GPUs for at least another year. To maximize Scrypt profitability, LR would have to go chasing altcoins around or pick one of the better alts to focus on. No time for that mess, so LRM should probably just focus on BTC now. The other concern would be can he convert one coin to another to distribute as BTC or not without stepping outside of his legal bounds. My gut tells me no.
In the future, if LR gets more time on his hands, it might not be a bad idea to look into it as a means to diversify and perhaps balance out some bad weeks of btc with good weeks of an alt. I personally would not mind getting distributions in BTC and some other coin. There are at least a few alts that are at the moment promising.
I don't think the cooling and power requirements take as much out of the profit as you think. If LTC is 111% more profitable than BTC on a $ invested basis, then accounting for cooling and electricity might take it down to 100% - just a quick guesstimate. I'll also guesstimate that you can ROI on LTC in about 4 months, if not sooner. That figure will migrate towards ~10 months, which is where I think BTC mining with GPU's started to reach equilibrium (i.e. miners didn't seem to come on-board as much or stay on-board as much with that duration to ROI). Buying and holding has historically been the biggest winner... but I still think there is opportunity with LTC mining using GPU's, despite the supposed coming LTC asic. |
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So.. today its the day with 25Th paying dividends? or next week?
I'm fairly sure it is today. |
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ActiveMining is getting set up to trade on Crypto-Trade, based in Hong Kong. Could that be an option for LRM?
Looks like it has potential. Might want to wait it out a bit to make sure it isn't a MCXNow pt.2 or Bitfunder pt. 2 https://crypto-trade.com/news/39 |
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My feeling is that LR should resolve the trading solution before offering more bonds. This may help alleviate the bond price depreciation. Why sell new bonds at BTC0.10 when you can sell them for maybe BTC0.15 or BTC0.20?
Also, if the potential deal is what LR says, he could capitalize on this with an advertisement campaign. But again, having a trading solution would be important to resolve before proceeding with such plans. Again, that's just my feeling on it.
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Why so much attention in pandering to those who just want to trade the stock?
It's not a stock. And it's questionably a bond. Anyway, I don't think there is too much attention allotted to those that want to trade the bonds. Some would like to sell, but the price is very depressed. Why? It seems in-part because it can't be easily traded. Evidence of that is just looking at the price pre- and post- Bitfunder. So, if a person decides to sell now, they are forced to take a deeper loss because of a lack of a any easy/fast trading procedure. Why should someone that merely changes their mind on a holding be required to sell their position for a loss in-part because the way to trade it is only a little better than making a craigslist posting? |
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I doubt the altcoin concept offers any advantage apart from maybe getting it listed on a dubious exchange.
You don't need to use the exchange as a wallet. The coins stay in your labrat wallet...unless you want to trade them. You can do this privately if desired. it opens up issues like what happens if my hd crashes, and I lose my lrm wallet?
The exact same thing if your HD crashes with the wallet you have on record with Labrat that you signed a message with. Dividends will still be paid in bitcoins to some bitcoin address.
what if i made a private sale? while the transaction happens without an issue, both parties still have to go back to grnbrg to pay him his fee to update the ledger?? meanwhile the blockchain should be proof enough, right? doesnt seem to fix anything apart from having it listed on an exchange of ill repute and exposing it to increased volatility and buyers who will have no idea what the heck they just bought. and I all but guarantee that they'll have zero clue on how to digitally sign a message.
Not in the scenario I described. If you have labrat coins in your labrat wallet. Register the wallet address on the LR website. It would be entirely automatic on the server side. would lr pay divs on lrm coin fractions?
Yes. As long as you register the labrat wallet and provide a bitcoin address for dividends to be deposited. if lrm bonds are replaced by a dividend paying alt coin, does lr draw scrutiny for coining money?
I'm pretty sure the answer here is no. It isn't presented as an official US currency, and it doesn't look like any US currency. if I wanted to buy fakecoin, or whatever, I wouldve bought one of the lamecoins. I bought btc dividend paying bonds in lrm. I'm not willing to restructure the holding just to buy some dubious beta.
The software is already proven. Bitcoin is no more real than any altcoin. Most of the altcoin software is the same - just launch any altcoin wallet and see. Your % holdings and dividends would not change one iota. Only the digital form of the bond. |
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