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[bigasic]

I would be willing to give up my two weeks worth of dividends if Lab_Rat included his 5% management fee in it as well for those two weeks.

From what I'm gathering "Every Bitcoin Counts". I think this would show a lot of good faith towards shareholders.



That being said, we would be looking at around ~200 Coins from two weeks worth of dividends to be reinvested back into LRM.

In all honesty, that's NOT that much. Would ~$26,000 really get that much of a better deal with Bitfury?

Im with bar on this one, if the management fee was included to help the company, then im all for it.. like he said, would 26k really help in the short term? If it does, then by all means, go for it...

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[bittymitty]

It will be a lot more than 26k.

"This idea states that (and my contract allows for) LRM to mine for 2 full weeks with new hardware without paying dividends from it"

This means that all new hardware pays 2 weeks worth of BTC to buy more miners.  If you compound this effect over time then you will have a lot more than if you just had one payment of 26k.

This was part of the plan from the start but was dropped to start paying early div's.

I vote yes for this plan.

[Lab_Rat]

Lab,

I hope that you got the 25 percent off voucher for the monarchs.. I dont know if you can use them retro, but I have one if you can... Im so glad all my orders are done with the BFL night mare...... I probably wouldnt purchase something from them even if the cost was 10 percent of the nearest competitor...but, maybe they will surprise us and deliver a timely and good product... like you said lab, I dont want to wait 3 months to get our hash rate up, but whatever is best for LRM, im in...

Don't worry, vouchers were used for everything, nobody pays face value for anything from BFL!

How come BCT doesn't have a like button

[mmmerlin]

Lab,

I hope that you got the 25 percent off voucher for the monarchs.. I dont know if you can use them retro, but I have one if you can... Im so glad all my orders are done with the BFL night mare...... I probably wouldnt purchase something from them even if the cost was 10 percent of the nearest competitor...but, maybe they will surprise us and deliver a timely and good product... like you said lab, I dont want to wait 3 months to get our hash rate up, but whatever is best for LRM, im in...

Don't worry, vouchers were used for everything, nobody pays face value for anything from BFL!

How come BCT doesn't have a like button

At least you can post "+1" here - the BFL forum doesn't allow posts under 5 chars!

[Lab_Rat]

I would be willing to give up my two weeks worth of dividends if Lab_Rat included his 5% management fee in it as well for those two weeks.

From what I'm gathering "Every Bitcoin Counts". I think this would show a lot of good faith towards shareholders.



That being said, we would be looking at around ~200 Coins from two weeks worth of dividends to be reinvested back into LRM.

In all honesty, that's NOT that much. Would ~$26,000 really get that much of a better deal with Bitfury?

It would be more like 850BTC or 807.5 at 95% (scooping 5% for elec).  I'd prefer to at least cover rent out of it too as that's what's intended in the 25% cut from divs. So let's say somewhere between 5 and 10% and I'll throw in my share.

As bittymitty stated it was the original plan, but I got hardware and wanted to show good faith and pay divs as early as possible.

[Lab_Rat]

Lab,

I hope that you got the 25 percent off voucher for the monarchs.. I dont know if you can use them retro, but I have one if you can... Im so glad all my orders are done with the BFL night mare...... I probably wouldnt purchase something from them even if the cost was 10 percent of the nearest competitor...but, maybe they will surprise us and deliver a timely and good product... like you said lab, I dont want to wait 3 months to get our hash rate up, but whatever is best for LRM, im in...

Don't worry, vouchers were used for everything, nobody pays face value for anything from BFL!

How come BCT doesn't have a like button

At least you can post "+1" here - the BFL forum doesn't allow posts under 5 chars!

Try it with spaces? "   +1"

[mmmerlin]

Lab,

I hope that you got the 25 percent off voucher for the monarchs.. I dont know if you can use them retro, but I have one if you can... Im so glad all my orders are done with the BFL night mare...... I probably wouldnt purchase something from them even if the cost was 10 percent of the nearest competitor...but, maybe they will surprise us and deliver a timely and good product... like you said lab, I dont want to wait 3 months to get our hash rate up, but whatever is best for LRM, im in...

Don't worry, vouchers were used for everything, nobody pays face value for anything from BFL!

How come BCT doesn't have a like button

At least you can post "+1" here - the BFL forum doesn't allow posts under 5 chars!

Try it with spaces? "   +1"

Even BFL aren't that sloppy! (also they didn't code their own forum, and everything is trimmed first)

[mmmerlin]

I would be willing to give up my two weeks worth of dividends if Lab_Rat included his 5% management fee in it as well for those two weeks.

From what I'm gathering "Every Bitcoin Counts". I think this would show a lot of good faith towards shareholders.



That being said, we would be looking at around ~200 Coins from two weeks worth of dividends to be reinvested back into LRM.

In all honesty, that's NOT that much. Would ~$26,000 really get that much of a better deal with Bitfury?

It would be more like 850BTC or 807.5 at 95% (scooping 5% for elec).  I'd prefer to at least cover rent out of it too as that's what's intended in the 25% cut from divs. So let's say somewhere between 5 and 10% and I'll throw in my share.

As bittymitty stated it was the original plan, but I got hardware and wanted to show good faith and pay divs as early as possible.

Just to clarify - is this confirmation that you mean doing this with the new hardware as people are assuming?

Also, now that the info is essentially out there, to save having to run all the number backwards could you just say how many BitFury rigs this equates to please?!

[bigasic]

Wouldnt it be easier to just say the hard cost? instead of a percentage? Im sure you know what it costs you to power what you have and iim sure you know how much the rent is. So, just figure that out in hard cost. I think it would be easier to say, "1000 us for electricity and 500 for rent" (obviously, trivial numbers) thats a lot more transparent than using a percentage, but what do I know, lol. maybe its better to use a percentage, but you for sure need to pay your hard costs... plus, since you probably already know what your paying a kilowatt and monthly rent, it would be easier to figure out, plus you would make sure you got your hard costs covered rather than giving a  percentage, where there is a chance that they wouldnt be..

[bigasic]

Also, I wouldn't mind giving up the next couple weeks worth of dividends but if we are talking about giving up the dividends when the 30ths comes on line, thats a little different.. Thats a lot of money for me since I hold a considerable amount of bonds.  I certainly dont mind giving up the dividends now, to help things out, but Ive been holding my breath for the 30ths to come in and reap the benefits..

Maybe this should be clarified... If it makes sense, then I may be in agreement, but I would want to know all the particulars, etc.

[bittymitty]

If you bought shares in LabRatMining then you have already agreed to the proposal as it was in the IPO on page 1

"Dividends/Bond Value – Each bond will receive a minimum of 100MH/s* worth of mining profit in dividends/returns (all dividends are intended as contractual returns based on investments and may simply be referred to as dividends for future purposes) on a weekly basis. The first payout will be at the end of the second full week mining.  If the entire 100,000 bond IPO is not sold immediately, bonds will represent an equivalent portion of the processing power included in the operation at that time.  If it occurs that multiple installments of hardware are required to fulfill the IPO’s expected hardware, the earnings of each installment will begin to be paid out in dividends on the second full week of each installment.  Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)"

Technically you are not giving up anything, we have actually been getting paid out early since the start.  The reason for the early payment was to boost confidence in the mine due to all the delays from suppliers.

This early payment is nice to see in the wallet but is actually gimping the potential of the mine over the long term.  You will still reap the benefits but at a slightly slower rate at the start(2 weeks).    All subsequent dividends you receive after will be boosted by the extra hashing power and will enable the mine to hold its percentage of network a lot more effectively.
 

[LostDutchman]

@Lab_Rat:

Look, I like you and think highly of your service so do not take my following comments as any kind of negative criticism.

I am basing the uninvited advice I am about to give you on many years of successful (And sometimes unsuccessful! ) business experience.

Set your Terms of Service and stick to them.

Right now you are being barraged with things like, "Why don't you do this?" and "Why don't you do that?"; "I'd like to see this!"; "I would do this!"; "I would do that!"; I would do the other thing!".

Now lookey here; see; someone has to be in charge and someone has to be the King_Lab_Rat and these people are driving you nuts and you don't need it.

It's your deal; you make the rules.

Be the King_Lab_Rat!

Make the rules fair and stick to them.

If anyone wants out, let them out and let them out right now.

With a good solid TOS you have made yourself clear and being clear cancels out all the BS.

You have good work to do and do not have time to be forum posting in response to people who think they know how to run your business better than you do and you are doing good work.

Get some firm and hard TOS. Stick to them and go on down the road to bring success to you and your investors.

Best wishes for you in your endeavour and I have every confidence of your long term success.

My $.02.



Get some firm and hard TOS. Stick to them and go on down the road to bring success to you and your investors.

[BKM]

I would be willing to give up my two weeks worth of dividends if Lab_Rat included his 5% management fee in it as well for those two weeks.

From what I'm gathering "Every Bitcoin Counts". I think this would show a lot of good faith towards shareholders.



That being said, we would be looking at around ~200 Coins from two weeks worth of dividends to be reinvested back into LRM.

In all honesty, that's NOT that much. Would ~$26,000 really get that much of a better deal with Bitfury?

It would be more like 850BTC or 807.5 at 95% (scooping 5% for elec).  I'd prefer to at least cover rent out of it too as that's what's intended in the 25% cut from divs. So let's say somewhere between 5 and 10% and I'll throw in my share.

As bittymitty stated it was the original plan, but I got hardware and wanted to show good faith and pay divs as early as possible.

Works for me! TY LR

[bobfranklin]

LR I'm only a small shareholder and even I agree with the proposition to hold 2 weeks and increase capacity.

The question I have is do you have any estimates on hashrate/bond after this deal and what time frame for active mining?

[Doff]

I like it, lets do it.

[bittymitty]

Lab_Rat said:
"The 400-700 range is for the first order or so from BitFury... There will be a lot more almost immediately after that."
&
" I'm almost ready and by mid Oct it should have a virtual boatload of BitFury gear hashing away in it."

So I guess October is going to be a big month, and it is not far away....

[Lab_Rat]

To clear anything up.  I would be paying out Dividends with the hardware in hand and holding the payout from the new hardware coming in for 2 weeks.  It seems as though a couple individuals didn't quite understand.  It appears the general consensus is to do so.

One of the main reasons for doing this I can't share as of yet because it's not my news to share.  People would just have to know it's for the greater good of the company and would help out a ton in the long run.

[bigasic]

you might want to consult with your larger shareholders, at least let them  know whats going on.

[bobfranklin]

One of the main reasons for doing this I can't share as of yet because it's not my news to share.  People would just have to know it's for the greater good of the company and would help out a ton in the long run.

This sounds somewhat ominous to me.

[bigasic]

One of the main reasons for doing this I can't share as of yet because it's not my news to share.  People would just have to know it's for the greater good of the company and would help out a ton in the long run.

This sounds somewhat ominous to me.

I would have to agree....