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Labrat would you buy back bonds from original investors in this new plan?
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Looks like the approximate hash rate has spiked significantly. |
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So how do dividends work now? Based on 100 mh/s per bond and 3 times original bond quantity?
There were some posts about increased hashrate earlier in the week. Is it confirmed we have more gear on line? How is this going to be handled vis a vis bond quantities / hashrate per bond and "dividends"?
Given that we are expecting our distribution today, it might be a good time to give an update.... maybe.
For me it looks like: 0.07351809 BTC on 254 "bonds" or 0.07351809 on 762 "new bonds" Last week I got 0.06527283 BTC on the same number of bonds.. Which is a 12.63% increase this week.. not the 20% quoted by LR, but likely there was a difficulty increase or bad pool luck.. |
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I will make an attempt to clarify #4 in one quick sentence but the rest you can read a little more for. Everyone who has contracts at this point in time is an "early purchaser" of contracts. The company is still young and people should not be looking at this like it's all going to end in 3-4 months. I can't count how many times I've stated Bitcoin is not a sprint it's a marathon. For over 2 years people said that graphics cards were not profitable and in 4-6 months people will stop mining so much, but every time someone said that the price went up and they remained profitable. Change =/= Death.
This is probably the most hopeful thing I've heard in the last few days on this thread. I'm serious - no sarcasm whatsoever. If you're in for the long haul then that is reassuring. |
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Granted, that is true. However, what I am suggesting is soliciting the help of community members, individuals who operate enterprises of a similar nature to LRM, or anyone who may have information that is helpful. I'm suggesting being open to help from them rather than writing them off as not being similar enough - someone may have something to contribute, if only you were to solicit the help. If LRM hasn't been operating illegally this whole time, then there is no harm in talking in the open about what challenges we face and how we can productively overcome them. If LRM has been operating illegally this whole time then I can understand your hesitance to ask for help and talk about specifics.
Bottom line: Ask the community for help regardless of how well versed you think they are.
The closest would be James Gibson's giga/teramining ventures as they are in the US and have handled issues in the past, but they are fixed hashrate payout schemes, not variable. This still seems like a closed response from you. Let's try something more direct and to the point. 1)Are you willing to ask the community for help? 2)If so, when will you formally solicit help from the community, stakeholders, investors etc? 3)If not, is it because you fear that LRM has been operating illegally? |
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Found an almost exact analogy... http://en.wikipedia.org/wiki/Community_Shared_AgricultureThe way those work here is you buy a "share" in the commodities produced by the farm and each week you get your share of production. The people who buy shares don't own the farm, just it's output. Find legal basis for those, structure LRM accordingly. This is interesting. What have you been doing with your spare time? If our investment is important to you, and LRM as a company is important to you, then I implore you to use the brains in this community to problem solve this and then make actual practical decisions and actions based on the bondholders input and guidance. This is our money after all. Make a post soliciting help, contact the bitcoin foundation, contact anyone with any experience in this who runs a legitimate buisness - talk to CEX.io, talk to ANYONE... rather than just stay silent as the ship sinks. 1) Solicit help. 2) Make informed descisions. 3) Take positive action. 4) Quell the masses with pitchforks and torches. CEX.io is on a different boat than LRM, although they are definitely breaching MSB issues within the US whether they operate in or out of the country. Granted, that is true. However, what I am suggesting is soliciting the help of community members, individuals who operate enterprises of a similar nature to LRM, or anyone who may have information that is helpful. I'm suggesting being open to help from them rather than writing them off as not being similar enough - someone may have something to contribute, if only you were to solicit the help. If LRM hasn't been operating illegally this whole time, then there is no harm in talking in the open about what challenges we face and how we can productively overcome them. If LRM has been operating illegally this whole time then I can understand your hesitance to ask for help and talk about specifics. Bottom line: Ask the community for help regardless of how well versed you think they are. |
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Found an almost exact analogy... http://en.wikipedia.org/wiki/Community_Shared_AgricultureThe way those work here is you buy a "share" in the commodities produced by the farm and each week you get your share of production. The people who buy shares don't own the farm, just it's output. Find legal basis for those, structure LRM accordingly. This is interesting. What have you been doing with your spare time? If our investment is important to you, and LRM as a company is important to you, then I implore you to use the brains in this community to problem solve this and then make actual practical decisions and actions based on the bondholders input and guidance. This is our money after all. Make a post soliciting help, contact the bitcoin foundation, contact anyone with any experience in this who runs a legitimate buisness - talk to CEX.io, talk to ANYONE... rather than just stay silent as the ship sinks. 1) Solicit help. 2) Make informed descisions. 3) Take positive action. 4) Quell the masses with pitchforks and torches. |
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I'm still at a loss as to how this is remotely fair or legal..
I've got 38.1 BTC invested with you LabRat. You've killed any chance of us seeing our investments remotely returned...
0.82 BTC dividends on 38.1 BTC investment.... what a tragedy.
I vote for you to liquidate the company's assets and buy back our bonds for whatever pittance you get for the hardware.
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How about instead of paying divs to me, buy back my bonds by sending me ~77gh of mining hardware?
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Hate that it has to come to this, but there are too many bills. PM me to discuss fees based on how many shares you want. FTFY - added the leading 0 on the ask |
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grnbrg, has there been any communication with LabRat?
He's been incommunicado for two weeks...
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Ditto... is the site under attack?
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Labrat, can you give us an update on where all the LRM hardware orders are at? IE: number of TH from which vendor, and expected time to delivery for that specific hardware order?
I know this has probably been covered in other posts, however I'd like to see a current post-holiday update from Labrat directly.
Thanks kindly.
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