DodSno
Newbie
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Activity: 3
Merit: 0
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January 30, 2014, 04:43:48 AM |
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I would like to applaud both labrat and grnbrg for their handling of the situation (and hard work in general). Although it took a couple of days to arrive, the plan seems to be a reasonable one. It would be interesting to see how many of those who were overpaid actually return the BTC. I'm not asking you guys to take time to compile such a list, just wondering aloud about people's honesty and reaction to being given, in some cases, the opportunity to take back at least as many BTC as they put into this venture. The "I was just letting it mine to pay itself off part way as it came from my pocket" bit seems a odd, but assuming that the funds to purchase the hardware came exclusively from LR's pocket and he is now turning it over to the company I don't see an issue. LR has so far been pretty honest about how things are run, if a bit mute, so I'm inclined to give him the benefit of the doubt. Keep up the good work, can't wait for the next big announcement. (For the sake of full disclosure, I hold bond, was overpaid and returned the excess.) Edit: Beat me to the punch LR  |
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Lab_Rat (OP)
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January 30, 2014, 04:48:59 AM |
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Keep up the good work, can't wait for the next big announcement.
Thank you, and there's one coming up real soon. For obvious reasons I'm not giving a date. |
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grnbrg
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January 30, 2014, 04:50:35 AM |
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Keep up the good work, can't wait for the next big announcement.
Thank you, and there's one coming up real soon. For obvious reasons I'm not giving a date. Two weeks™? lol grnbrg. |
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M31
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January 30, 2014, 04:51:48 AM |
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"As a fix for this bondholders who refuse to payback funds will retain ownership of their bonds forcefully until the dividends have covered their overpayment." Um, there is already such a system in place. Its called SELLING BONDS IN A FORUM THREAD. -- "The Dec/Jan hardware is in hand, I was just letting it mine to pay itself off part way as it came from my pocket but it's about time to start moving it over to LRM." My jaw dropped when I read this. How long has it been mining for you personally? This is going to be another case where I ask for clarification and you ignore me. But for the love of dog, please tell me you haven't been keeping the proceeds from this hardware for more than two weeks. There is no appropriate justification for this if its true. "it came from my pocket" is not a credible explanation after you've sold thousands of BTC worth of bonds to buy hardware. If you are jumbling your personal mining endeavors with LRM mining, then please, please buy my bonds back now so I can get off of the crazy train. -- And just so that it is a matter of public record, I was overpaid. It is substantially less than this coming Saturday's dividend payment, and as LR mentions above, the difference will be subtracted from my payment. Problem solved. grnbrg and I verify all transactions before bonds change hands and can turn down a sale. The hardware has been in hand for about a week as that's all it took to pay it off (I got it cheap) and there's still another TH coming in. This will be added to LRM after this weeks div payment. I just didn't want to use company funds on it. Be glad I'm adding it when I could just as well keep it theoretically. It's pretty awesome seeing you here with all this rapid-fire feedback LR. Thanks for spending your own BTC to help advance the company! I have no problem with that kind of thing, since, knowing you, you'd jump on an opportunity when it presented itself - for the good of all. Besides, it's much more than by-the-book logic that is getting us to where we'll be this year -- it's personality and the ability to effectively make connections! I really want to ask more about the exchange, but I'll do my best to hold back. Whatever it is.. it will be worth the wait. One question I do have: once the ball is rolling, do you think that being a LRM bondholder might possibly allow some of us to piggyback on hardware deals for personal use? (maybe a very limited quantity, or even some old gear you are dumping). |
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hamburgerhelper
Member
Offline
Activity: 83
Merit: 10
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January 30, 2014, 04:52:41 AM |
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"As a fix for this bondholders who refuse to payback funds will retain ownership of their bonds forcefully until the dividends have covered their overpayment."
Um, there is already such a system in place. Its called SELLING BONDS IN A FORUM THREAD.
grnbrg and I verify all transactions before bonds change hands and can turn down a sale. You missed my point. What I'm saying is that by expecting people to buy/sell bonds on an Internet forum, you have effectively instituted a system of forcing people to continue to own the bonds they have. This is just how it is and how it has been since November, 2013. You've said that it will change soon, hopefully you make good on that. I'm glad to hear that the hardware has not been mining for you personally for more than two weeks. Again, I can't stress enough how little sense it makes for you to personally own any mining hardware at this point. One could go so far to say that it would be a complete and total conflict of interest. |
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Lab_Rat (OP)
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January 30, 2014, 04:56:39 AM |
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It's pretty awesome seeing you here with all this rapid-fire feedback LR. Thanks for spending your own BTC to help advance the company!
I have no problem with that kind of thing, since, knowing you, you'd jump on an opportunity when it presented itself - for the good of all. Besides, it's much more than by-the-book logic that is getting us to where we'll be this year -- it's personality and the ability to effectively make connections!
I really want to ask more about the exchange, but I'll do my best to hold back. Whatever it is.. it will be worth the wait.
One question I do have: once the ball is rolling, do you think that being a LRM bondholder might possibly allow some of us to piggyback on hardware deals for personal use? (maybe a very limited quantity, or even some old gear you are dumping).
Made a lot of great connections in Miami. Being an LRM bondholder will make me want to help you out more, but limited quantity purchases are actually worse than large ones. Getting ahold of a large amount of gear isn't a problem and more funds means lower prices. Might be dumping some old BFL gear once the new BFL gear comes in though. |
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Lab_Rat (OP)
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January 30, 2014, 04:59:06 AM |
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One could go so far to say that it would be a complete and total conflict of interest.
This is why I'm not owning any hardware ever again... I've spoken to my lawyer and we both agree I can't compete with the company. In this case it's resulting in a contribution to the company so I see this particular case to be in the company's interest rather than against it. |
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Lab_Rat (OP)
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January 30, 2014, 05:00:37 AM |
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I can only be on for a few more minutes though. My entire time in Miami I may have slept 10-14 hours. Still haven't recovered from this due to BarGraphics' visit.
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BKM
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January 30, 2014, 05:02:14 AM |
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Keep up the good work, can't wait for the next big announcement.
Thank you, and there's one coming up real soon. For obvious reasons I'm not giving a date. Heh - it seems like most of the pitchforks are turned back to their agrarian purpose...... Thanks Zach - looking forward to the Next Big Thing |
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hamburgerhelper
Member
Offline
Activity: 83
Merit: 10
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January 30, 2014, 05:03:12 AM |
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One could go so far to say that it would be a complete and total conflict of interest.
This is why I'm not owning any hardware ever again... I've spoken to my lawyer and we both agree I can't compete with the company. In this case it's resulting in a contribution to the company so I see this particular case to be in the company's interest rather than against it. Oh good, I can sleep tonight. Enjoy your rest as well! |
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Lab_Rat (OP)
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January 30, 2014, 05:08:22 AM |
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One could go so far to say that it would be a complete and total conflict of interest.
This is why I'm not owning any hardware ever again... I've spoken to my lawyer and we both agree I can't compete with the company. In this case it's resulting in a contribution to the company so I see this particular case to be in the company's interest rather than against it. Oh good, I can sleep tonight. Enjoy your rest as well! I actually haven't owned any hardware since I started LRM nor did I plan to. The only time I've had any hardware mining for me is this time. All of my purchases were added to the company at startup. I also haven't even taken a paycheck this year yet. |
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oldbushie
Member
Offline
Activity: 94
Merit: 10
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January 30, 2014, 06:18:18 AM |
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AND PLEASE DONT LYNCH GRNBRG he's very helpful and only messed up once by letting the cat out of the bag a little early haha.
He turned me into a newt! ...I got better... |
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ICantThinkOfaName
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January 30, 2014, 01:58:14 PM |
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Why doesn't reflect all of our hashrate yet?  "Hashrate: 25+TH about to be moved to GHash.io/CEX.io" Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version. |
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ksenter
Member
Offline
Activity: 90
Merit: 10
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January 30, 2014, 02:47:34 PM |
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It's pretty awesome seeing you here with all this rapid-fire feedback LR. Thanks for spending your own BTC to help advance the company!
I have no problem with that kind of thing, since, knowing you, you'd jump on an opportunity when it presented itself - for the good of all. Besides, it's much more than by-the-book logic that is getting us to where we'll be this year -- it's personality and the ability to effectively make connections!
I really want to ask more about the exchange, but I'll do my best to hold back. Whatever it is.. it will be worth the wait.
One question I do have: once the ball is rolling, do you think that being a LRM bondholder might possibly allow some of us to piggyback on hardware deals for personal use? (maybe a very limited quantity, or even some old gear you are dumping).
Made a lot of great connections in Miami. Being an LRM bondholder will make me want to help you out more, but limited quantity purchases are actually worse than large ones. Getting ahold of a large amount of gear isn't a problem and more funds means lower prices. Might be dumping some old BFL gear once the new BFL gear comes in though. First off, thanks for the update. The silence was stressing me out. Second, let us know if you do decide to sell old BFL gear. I'd be interested, if the price is reasonable. (i.e. There would have to be a reasonable chance that I could make back the cost) Although if you're getting power as cheap as you say, it might make more sense for you to keep them. |
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spuushie
Member
Offline
Activity: 67
Merit: 10
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January 30, 2014, 02:53:33 PM |
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Why doesn't reflect all of our hashrate yet? "Hashrate: 25+TH about to be moved to GHash.io/CEX.io" Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version. I think he decided not to move more HW there. Because they have over 40% of the network. |
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ICantThinkOfaName
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January 30, 2014, 03:55:56 PM |
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Why doesn't reflect all of our hashrate yet? "Hashrate: 25+TH about to be moved to GHash.io/CEX.io" Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version. I think he decided not to move more HW there. Because they have over 40% of the network. Then he should update the page to reflect that, right? |
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spuushie
Member
Offline
Activity: 67
Merit: 10
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January 30, 2014, 04:29:47 PM |
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[/quote]
Then he should update the page to reflect that, right?
[/quote]
Well updating that page seems to have been a low priority. I stopped looking for info there a long time ago...
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Lab_Rat (OP)
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January 30, 2014, 06:23:37 PM |
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Why doesn't reflect all of our hashrate yet? "Hashrate: 25+TH about to be moved to GHash.io/CEX.io" Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version. I think he decided not to move more HW there. Because they have over 40% of the network. This ^^^ The rest is on other pools ready to be moved over once GHash starts sliding back on % a little more. |
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mufa23
Legendary
Offline
Activity: 1022
Merit: 1001
I'd fight Gandhi.
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January 30, 2014, 06:31:50 PM |
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Dividends have to be sent back from the same address they were sent too, correct? How are you figuring out who returned their extra dividends?
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Positive rep with: pekv2, AzN1337c0d3r, Vince Torres, underworld07, Chimsley, omegaaf, Bogart, Gleason, SuperTramp, John K. and guitarplinker
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Lab_Rat (OP)
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January 30, 2014, 07:05:41 PM |
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Dividends have to be sent back from the same address they were sent too, correct? How are you figuring out who returned their extra dividends?
If they are sent back from the same ones it just makes things easier, but the quantities are all pretty well unique and everyone has replied paid with the tx ID to my emails. |
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