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[daemonfox]

So the new contracts for sale take their 100MH/s from the uncontracted pool immediately upon purchase? Or are they subject to a waiting period for the new hardware you plan on purchasing with it?

Also why does your sig say 130 TH/s uncontracted but the cex banner says 107 for the last 24 hours?

[1714822436]

1714822436

[1714822436]

1714822436

[Doff]

After a long period of steady payouts, it's time to revamp. The company has surpassed 1600 BTC in payouts, the hashrate is in the 15 digit range, we've got a new shiny logo and website, so let's kick it up a notch.

There are a few things LRM has been looking into. These being:

• Great deals from Spondoolies and AntMiner
• MegaBigPower's Franchise Program (would launch Q1 2015)
• Scrypt Mining

To get some of these projects kicked off, the company is looking to secure additional funding. LabRatMining is going to be offering contracts at a discounted price to raise at least 500 BTC. Doing this will allow LRM to secure and begin operating new mining hardware between 25 and 75 cents a GH/s tripling or even quadrupling the total hashrate. If you have an opinion on whether to add Scrypt mining to the LabRatMining operation, please feel free to post on the BitcoinTalk Forums Thread.

Head on over to www.labratmining.com to check out the new website and contract purchase features.

Sounds good, but how will this affect the bonus payout we currently get? I think were what 21% paid back if you invested in the original IPO? I still have a LONG way to go to break even, and would really like to see that happen.

However I will be honest, I have no interest in buying anything else.

[Lab_Rat]

So the new contracts for sale take their 100MH/s from the uncontracted pool immediately upon purchase? Or are they subject to a waiting period for the new hardware you plan on purchasing with it?

Also why does your sig say 130 TH/s uncontracted but the cex banner says 107 for the last 24 hours?

It would come from the un-contracted pool and you would immediately receive the benefits.

There was an issue at the mine that is in the process of being resolved.  It should be closer to 150 once everything is perfect again.

[kaneda2004]

Labrat would you buy back bonds from original investors in this new plan?

[runam0k]

Fixed contracts with discretionary bonus will be a tough sell I would think.

[fractal02]

After a long period of steady payouts, it's time to revamp. The company has surpassed 1600 BTC in payouts, the hashrate is in the 15 digit range, we've got a new shiny logo and website, so let's kick it up a notch.

There are a few things LRM has been looking into. These being:

• Great deals from Spondoolies and AntMiner
• MegaBigPower's Franchise Program (would launch Q1 2015)
• Scrypt Mining

To get some of these projects kicked off, the company is looking to secure additional funding. LabRatMining is going to be offering contracts at a discounted price to raise at least 500 BTC. Doing this will allow LRM to secure and begin operating new mining hardware between 25 and 75 cents a GH/s tripling or even quadrupling the total hashrate. If you have an opinion on whether to add Scrypt mining to the LabRatMining operation, please feel free to post on the BitcoinTalk Forums Thread.

Head on over to www.labratmining.com to check out the new website and contract purchase features.

LabRat, i'm more than happy to see you go "step forward". Kudos for the new Website.

OK...we aren't ROI...and the past month wasn't easy...but i'm on Labrat mining for the long term.
I'm goin to buy some new contract to help the whole project and in fact help all of us to achieve ROI.

Because you know : "Small streams make big rivers" 

About Scrypt mining : For the moment, it's more secure to wait the monster like Gawminer Vaultbreaker and KNC Titan Scrypt.
Actual Scrypt miner will lose value a lot....and see the LTC price ? maybe it's a pump and dump strategy maybe not...

 

[daemonfox]

So the new contracts for sale take their 100MH/s from the uncontracted pool immediately upon purchase? Or are they subject to a waiting period for the new hardware you plan on purchasing with it?

Also why does your sig say 130 TH/s uncontracted but the cex banner says 107 for the last 24 hours?

It would come from the un-contracted pool and you would immediately receive the benefits.

There was an issue at the mine that is in the process of being resolved.  It should be closer to 150 once everything is perfect again.

So that raises the question... how do any of the numbers posted add up... they just don't...

If 17.7 TH/s is contracted... and 130 TH/s is bonus... why is the bonus only ~ 2X the payout of the contracted? Does discretionary really mean you are just keeping 75% of it for LRM?

I mean... if 17.7 TH/s = Per Contract: BTC 0.00002004 = ~ BTC 0.00000113 per contract per TH/s

Then how the hell does 130 TH/s = Per contract: BTC 0.00003937 = ~ BTC 0.00000030 per contract per TH/s

and of course... that will only diminish per contract as more are sold.

Shouldn't bonuses have been something nearer BTC 0.00014719 per contract? Why does LRM get to keep the coins earned by the "uncontracted" hashrate the contract holders ultimately paid for themselves?

[sparky999]

So the new contracts for sale take their 100MH/s from the uncontracted pool immediately upon purchase? Or are they subject to a waiting period for the new hardware you plan on purchasing with it?

Also why does your sig say 130 TH/s uncontracted but the cex banner says 107 for the last 24 hours?

It would come from the un-contracted pool and you would immediately receive the benefits.

There was an issue at the mine that is in the process of being resolved.  It should be closer to 150 once everything is perfect again.

So that raises the question... how do any of the numbers posted add up... they just don't...

If 17.7 TH/s is contracted... and 130 TH/s is bonus... why is the bonus only ~ 2X the payout of the contracted? Does discretionary really mean you are just keeping 75% of it for LRM?

I mean... if 17.7 TH/s = Per Contract: BTC 0.00002004 = ~ BTC 0.00000113 per contract per TH/s

Then how the hell does 130 TH/s = Per contract: BTC 0.00003937 = ~ BTC 0.00000030 per contract per TH/s

and of course... that will only diminish per contract as more are sold.

Shouldn't bonuses have been something nearer BTC 0.00014719 per contract? Why does LRM get to keep the coins earned by the "uncontracted" hashrate the contract holders ultimately paid for themselves?

That's a very good question. I was expecting this news to be that a large order has been placed with the funds that have been saved over the last while.  To find out that you are keeping 75% of the hash power and still trying to raise funds to pay for the new order doesn't make any sense.

500BTC is roughly $250,000 you said you can buy hardware at 25-75c /Gh and that the mine would expand 4 or 5 fold. Well that means you are only using the 500BTC you hope to raise to buy new hardware.

You won't sell 10BTC worth of bonds unless you lay out exactly what is going on with this.

[MrTeal]

retrocalc.net; start date 08/04 end date 08/10; 130TH/s generated ~20.5BTC. Even with bad luck there's some withholding going on, but running a datacenter isn't free either.

[Lab_Rat]

Out of the 17.7TH the company doesn't keep a penny to run anything.  All management fees come out of the uncontracted hashrate.  This includes power, hosting, rent, etc.  None of those are cheap when we're talking about anything over 100kW.

The fact that $250k wouldn't 10x the hashrate is due to buildout costs of such a mine.  The most expensive part of building a mine at this point isn't the hardware anymore.  It's the elec and cooling.  The buildout alone on a 1MW facility is between $3-500k if you know what you're doing and do it cheap depending on where you're building.

[btcrealm]

Thank you for the updates and the information.

daemonfox thank you for all your work in keeping the pricing info up to day, I do greatly appreciate it.

What hardware does LRM currently own?
What hardware is LRM planning on buying?
What is the EOL of the existing hardware as new hardware comes online?
What is the cost of the new shares?

• (nevermind, answered on the new website http://www.labratmining.com/BuyContracts/purchaseContracts.php)
• Based on what I paid (both in original purchases and LRM directly) these new contracts are 8 times cheaper than my average (yes I included the split x3 to be fair).  My average purchase was .037 and they are now .0045.  Currently my ROI is still under 14%.
• Is there any additional benefits to being a current contract holder vs the new contract holder?
• The website states a return per contract of .03251690 so far but based on what I have received it is 0.005258536 and I have had contracts from the beginning.

I am into LRM for a decent amount, the long term, and still want to see it grow. I would like to understand what is going on.

Sorry if some of this doesn't make sense/bad math, I've been up all night in our POPs updating equipment

<EDIT>
I guess as we are hash contract holders and don't have a stake in the hardware it makes more sense to have better transparency on listed hash (equipment specs), current hash (what is actually being performed), and hash statistics.
It is just nice to know what is actually being used, it gives confidence to contract holders.
</EDIT>

[sparky999]

What happens if you don't raise the 500BTC your hoping to? It does seem incredibly optimistic with out being listed on an exchange, the convoluted construction of the contracts and the bonus' and based on performance so far I doubt existing contract holders will be emptying their pockets to buy more.

[spuushie]

I really fail to see how this was good news. Someone explain please... 

[tempestb]

I really fail to see how this was good news. Someone explain please... 

It's good news for Lab Rat.  He gets $250,000 by reselling the hash we paid for.

[bigdude]

Let me just make one point here ...

No one is going to invest in shares/bonds that are not listed!

Get these listed, and then you have a chance.

[sparky999]

How did 'I've got great news coming' turn into ' I have no money and am gonna try and sell more contracts to further dilute your already under performing contracts.'

One day you will realise honesty and transparency in business is a superior strategy.

[DemocraticRepublicOfDave]

Let me just make one point here ...

No one is going to invest in shares/bonds that are not listed!

Get these listed, and then you have a chance.

+1

[hamburgerhelper]

After his bait and switch with the 75/25 deal to the "you get what I give you" deal I will never buy from LRM again. I would advise all potential investors/customers to stay far, far away. There's no telling what his next switcheroo will be.

[carnoto]

list first.

this week's div?

[fractal02]

So....no div this week ?