-

[elitenoob]

OK.  Just out of a meeting with my lawyer and things look very very good in respect to how they have looked.  I can't give time frames as things in the real world operate 9-5 m-f (NOT INCLUDING LUNCH HOURS) and my lawyer stated this loud and clear to me.  When I asked for an estimate on time he said it will come when it's done and it's a priority.

What he specified I can share is that there will be an announcement that will provide some clarification followed by a contract to be presented.  More info will come when it is available and no sooner.  It is the intention of LRM to provide further than 300MH/s per contract and is apparent that the way this will be done is legal.

Ok sounds good. Hope angry people think again before they take legal actions. And an updated bond holder list would be nice...unless i missed it.

[1714497982]

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[1714497982]

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[bittymitty]

OK.  Just out of a meeting with my lawyer and things look very very good in respect to how they have looked.  I can't give time frames as things in the real world operate 9-5 m-f (NOT INCLUDING LUNCH HOURS) and my lawyer stated this loud and clear to me.  When I asked for an estimate on time he said it will come when it's done and it's a priority.

What he specified I can share is that there will be an announcement that will provide some clarification followed by a contract to be presented.  More info will come when it is available and no sooner.  It is the intention of LRM to provide further than 300MH/s per contract and is apparent that the way this will be done is legal.

I have put the pitch fork back in the shed.  Is seems you could have been a lot more clear with your intentions.

Let see if the bonds rebound or if trust has been permanently damaged.

[||bit]

OK.  Just out of a meeting with my lawyer and things look very very good in respect to how they have looked.  I can't give time frames as things in the real world operate 9-5 m-f (NOT INCLUDING LUNCH HOURS) and my lawyer stated this loud and clear to me.  When I asked for an estimate on time he said it will come when it's done and it's a priority.

What he specified I can share is that there will be an announcement that will provide some clarification followed by a contract to be presented.  More info will come when it is available and no sooner.  It is the intention of LRM to provide further than 300MH/s per contract and is apparent that the way this will be done is legal.

I have put the pitch fork back in the shed.  Is seems you could have been a lot more clear with your intentions.

Let see if the bonds rebound or if trust has been permanently damaged.

LOL!

Today I was grilling vegetables and a big chicken sausage. To speed up the cooking, I split the sausage down the middle and flattened it out..and thought about how closely it might resemble a rat being grilled. And fantasized about a rat pelt....but didn't see much use for one... anyway *head shake*gotta snap out of those ideas... indeed, pitchfork is on hold...but within reach.

[hamburgerhelper]

OK.  Just out of a meeting with my lawyer and things look very very good in respect to how they have looked.  I can't give time frames as things in the real world operate 9-5 m-f (NOT INCLUDING LUNCH HOURS) and my lawyer stated this loud and clear to me.  When I asked for an estimate on time he said it will come when it's done and it's a priority.

What he specified I can share is that there will be an announcement that will provide some clarification followed by a contract to be presented.  More info will come when it is available and no sooner.  It is the intention of LRM to provide further than 300MH/s per contract and is apparent that the way this will be done is legal.

I have put the pitch fork back in the shed.  Is seems you could have been a lot more clear with your intentions.

Let see if the bonds rebound or if trust has been permanently damaged.

I've read several articles in the last day which indicate that more than one federal and regional regulator is waiting patiently for bitcoin fraud cases to fall into their laps.

The nice thing about a Feds v. Zach Dailey case is that I've already paid for the prosecutor's fees in the form of my weekly taxes.

I'll be sharpening my pitchfork until this is equitably resolved.

[Endlessa]

I've read several articles in the last day which indicate that more than one federal and regional regulator is waiting patiently for bitcoin fraud cases to fall into their laps.

The nice thing about a Feds v. Zach Dailey case is that I've already paid for the prosecutor's fees in the form of my weekly taxes.

I'll be sharpening my pitchfork until this is equitably resolved.

https://www.youtube.com/watch?v=AEu2n2DGF8s

[Endlessa]

Just a thought and a heads up. . .if at any point your solution is that I can buy future bonds with a discount. . . my recent posts will be like a friend request in comparison.

[oldbushie]

*reads 20 pages of posts*

So... my best guess is that we're moving into growth in the number of contracts you have over time, versus growth of the (as we have it now) individual bond hashrate? If that's the case, I'm cool with that. Otherwise it doesn't make sense to have a bunch of contracts trapped at 100 MH/s indefinitely.

[||bit]

It would be nice if Dave shipped that hardware soon.

[BKM]

OK.  Just out of a meeting with my lawyer and things look very very good in respect to how they have looked.  I can't give time frames as things in the real world operate 9-5 m-f (NOT INCLUDING LUNCH HOURS) and my lawyer stated this loud and clear to me.  When I asked for an estimate on time he said it will come when it's done and it's a priority.

What he specified I can share is that there will be an announcement that will provide some clarification followed by a contract to be presented.  More info will come when it is available and no sooner.  It is the intention of LRM to provide further than 300MH/s per contract and is apparent that the way this will be done is legal.

I have put the pitch fork back in the shed.  Is seems you could have been a lot more clear with your intentions.

Let see if the bonds rebound or if trust has been permanently damaged.

I've read several articles in the last day which indicate that more than one federal and regional regulator is waiting patiently for bitcoin fraud cases to fall into their laps.

The nice thing about a Feds v. Zach Dailey case is that I've already paid for the prosecutor's fees in the form of my weekly taxes.

I'll be sharpening my pitchfork until this is equitably resolved.

WTF: "The nice thing about a Feds v. Zach Dailey case". That would please you?

LRM (Zach) is actively working to be onside of the evolving statute law. Any prosecutor would find a very tough row to hoe in the absence of any statutes that were broken or misinterperted if it can be demonstrated that LRM is doing everything it can to mitigate the issue. Your scenario is exactly what Zach is sweating his testes to AVOID on all our behalf. Sharpen the pitchfork for sure - but don't spread bullshit with it please.

[BKM]

As serious as all of this is (and I do take it seriously) - https://www.youtube.com/watch?v=4aULv6Fwr9M

Warning - there is a pitchfork and there are geeks....

[sparky999]

Zach please respond to my email request for your lawyers details. Any actions that are filed can be dropped the second you realise an equitable solution but your failure to disclose that information upon request from a shareholder is extremely suspect.

[VinceSamios]

Zach please respond to my email request for your lawyers details. Any actions that are filed can be dropped the second you realise an equitable solution but your failure to disclose that information upon request from a shareholder is extremely suspect.

you clearly don't know how litigation works - you are obliged to give a reasonable opportunity for response before you begin "any actions" - Zach has asked for more time and explained why - your demands are unreasonable. stop making stupid threats.

[sparky999]

All I have requested is zach's lawyers contact info, I gave him 3 days to respond. I have been completely reasonable.

[VinceSamios]

All I have requested is zach's lawyers contact info, I gave him 3 days to respond. I have been completely reasonable.

You don't require Zach's lawyers details - you can send whatever panty wetting demands you want directly to Zach. But you would know this if you weren't just ignorantly posturing.

[Frankthechicken]

Well... if people are still into forming a mob...

http://www.youtube.com/watch?v=rLJFgJ1GXsM

It sucks there is such a crap history with bitcoin investments turning into scams that people jump to accusations and threats at the drop of a hat at the first signs of trouble.  With the SOP being to eviscerate someone at the first signs of trouble, I'm astounded anyone even bothers trying to create bitcoin businesses anymore.

[rangerbob21]

I am still confused on why ANYTHING was said at all... LR could have waited until the "lawyers" cleared his communications with the bond holders... Still seems very fishy... With only the information presented from LR, I can't/don't buy it at all.  

[Endlessa]

I could get behind that, especially if  we could see the blockchain activity from mining.  we would know exactly what was happening.

Some questions that would be nice to have answered concerning Due Diligence LR performed on executing the old bonds/contracts/mining shares (whatever we want to call them now) and the change to new ones:

• What is the problem?
• Did this problem suddenly happen? (I assume no, since you said you've been working on this for 2-3 months)
• If not, why are we addressing it right now with partial solution?
• Why didn't we address this earlier?
• Why didn't we discuss the problem prior to taking action?
• Can we have a copy of what the lawyers had to say on the issue and the solution?
• What agency is exerting pressure on LRM, if any?
• Why tell us the purchase of new hardware was going to give us 2 gh/s per share, if you already knew there were problems with the shares being legal?
• Why sell more shares, if you already knew about this?

Bump

[Endlessa]

Well... if people are still into forming a mob...

http://www.youtube.com/watch?v=rLJFgJ1GXsM

It sucks there is such a crap history with bitcoin investments turning into scams that people jump to accusations and threats at the drop of a hat at the first signs of trouble.  With the SOP being to eviscerate someone at the first signs of trouble, I'm astounded anyone even bothers trying to create bitcoin businesses anymore.

This isn't a drop of the hat, let me review:

January 24, 2014, 03:35:25 AM
  Big announcement about the coinseed deal

January 30, 2014, 02:59:18 AM
  Discussion about overpaid divs
  small paragraph with a few more coinseed details
  Bargraphics get special invite to  visit the mine

January 30, 2014, 03:11:17 AM
  Discusses the incoming hash and the when and who of it.

January 30, 2014, 03:14:50 AM
  Tells us not to lynch grnbrg (everybody was asking for questions to be answered about coinseed zach being cto)

January 30, 2014, 04:07:13 AM
  Jokes with grnbrg

January 30, 2014, 04:17:55 AM
  reiterates how amazing the hash per bond is going to be and says an exchange for shares is being worked on, but can't share the details yet.

January 30, 2014, 04:39:39 AM
  Tells us he has the dec/jan hardware in hand but has been personally mining with it, because he used his funds instead of the companies to pay. brief mention of how he handles bonds.

January 30, 2014, 04:48:59 AM
  Was told to keep up the good work and keep the good news coming and responded
  "Thank you, and there's one coming up real soon.  For obvious reasons I'm not giving a date.  Wink"

January 30, 2014, 04:56:39 AM
  Mentions how much fun he had in Miami and he made great connections.  Discusses the woes of buying large and small amounts of hardware

January 30, 2014, 04:59:06 AM
  tells us his lawyer said buying hardware and mining with it is a conflict of interest and he will never be doing that again

January 30, 2014, 05:00:37 AM
  talks about how jet lagged he is from the miami thing and BarGraphic's visit

January 30, 2014, 05:08:22 AM
  Fights off more concerns about him owning gear.  Says he hasn't received a paycheck this year.

January 30, 2014, 06:23:37 PM
  confirms the hash isn't appearing on GHash.io because it has too much network share and lives on "other pools". says the rest will be moved when GHash.io network share reduces

January 30, 2014, 07:05:41 PM
  talks about div over payment and that everyone has replied they paid back to his emails

____________

At this point there is practically silence, note the date

___________

February 01, 2014, 08:00:53 PM
  Div update, says it will be small until first or second week of march

February 02, 2014, 04:26:56 PM
  Says GHash.io is temporary and he has something in the works with Merlin to make it go away

February 09, 2014, 01:01:48 AM
  Div update.  says the 3 stragglers have paid off div overpayments. and the next week divs will be on monday.

February 25, 2014, 05:14:54 AM
  drops a whois link on Mt. Gox  . . . no text just the link
____________

Silence is deafening, people start to wonder if something happened to him. Coinseed questions are still unanswered.
then .   . .

____________

CHANGE IN PAYOUT RATE STRUCTURE

Cryptocurrencies, which includes Bitcoin, are relatively new to the world economic communities and its governments. Worldwide there continues to be almost daily announcements from governments regarding crypto currencies. Lab Rat Data Processing, a Limited Liability Company in the state of New Jersey, continues to monitor those announcements and the ever-changing laws and economic environments and how those laws impact cryptocurrencies, including Bitcoin, and in particular Lab Rat Data Processing. Most important to Lab Rat Data Processing are the ever-changing laws and/or announcements from the United States and its governmental agencies and the state of New Jersey and its governmental agencies.

Based upon recent developments in US and local laws, Lab Rat Data Processing, and their legal representatives, have determined a potential current or future problem with its current rate structure, which was originally intended as a variable rate payout. Therefore, Lab Rat Data Processing is amending its variable rate payout with a set rate payout of 100 MH/s per contract. This rate payout shall be for all current contract-holders and all future contract-holders.  Contemporaneous with the change from a varying rate payout to a set rate payout Lab_Rat will triple the amount of contracts held by all contract holders as of the date of March 8, 2014.  Therefore, for all current contract holders on their current contracts, the effective rate will be permanently set at 300 MH/s per contract.  All future contracts purchased will be at the new rate of 100MH/s.

Lab Rat Data Processing will continue to monitor developments for cryptocurrencies and Bitcoin in particular, seeking to maintain its current status as a leader in the Bitcoin community and to maintain compliance with US and New Jersey laws.

More information to come.

So to say this happened at a drop of the hat is complete bullshit.  For LR to say he knew the bonds weren't legal for 2-3 months, while running around and doing/saying all this is minimum bad business, imo.

What actually happened? I have no idea, there is little to follow up on any of these announcements.  most of the answers are "I can't really tell you" or "In the works, but I'm not allowed to give details" type answers.  The explosive announcement after a month of practical silence is absurd on a good day.  Never mind that the solution isn't even complete.

LR Please answer my due diligence questions.

[dooferorg]

"Arthur Daley" from the British TV series Minder http://en.wikipedia.org/wiki/Minder_(TV_series)

"Minder is a British comedy-drama about the London criminal underworld. "

"Arthur Daley
Arthur is a mid-level professional criminal of rather mature years, a minor con man eternally involved in dodgy dealings"


Any relation to Zach Dailey?

[Endlessa]

I'm here to answer the questions I can so feel free to ask.

The issues at hand are both on a state and federal level regarding multiple topics.  The specifics of these statutes will be presented in a timely manner.

I have not done any work for CoinSeed in weeks and don't believe I will have a major if any further involvement in CoinSeed.  This is yet to be determined by Merlin Kauffman.

The newly issued contracts price will be changed.

something more than a 1 liner on that not so insignificant piece of news would be nice as well.