-

[mmmerlin]

However, the full hashrate per bond will not be paid until all the hardware that was bought with the money raised by those bond sales is online, which will be many weeks from now. Things are starting to ramp up, and there may well be a decent amount of power coming online soon, but the full amount per bond (forecast to be ~350MH/s) won't be paying dividends until many (read >6) weeks from now.

Yes, we are saying the same thing.  That is the only point I was trying to make.  That the minimum hashrate dividends per bond  will not be met until the hardware is installed and hashing for two weeks. What that value is, is based on what bonds have been sold to that point, and what hardware is operational.

Sorry, we are indeed in agreement then!

I'm just fire-fighting as I expect a lot of people to be waving burning torches soon saying "You guaranteed XXX MH/bond" when the first dividends are paid out v. soon, when in fact what they should be saying is "it's only small but boy is it sooner than I expected, and much better than nothing at all!"

[grnbrg]

I'm just fire-fighting as I expect a lot of people to be waving burning torches soon saying "You guaranteed XXX MH/bond" when the first dividends are paid out v. soon, when in fact what they should be saying is "it's only small but boy is it sooner than I expected, and much better than nothing at all!"

+1 



grnbrg.

[mmmerlin]

I'm just fire-fighting as I expect a lot of people to be waving burning torches soon saying "You guaranteed XXX MH/bond" when the first dividends are paid out v. soon, when in fact what they should be saying is "it's only small but boy is it sooner than I expected, and much better than nothing at all!"

+1 



grnbrg.

Brace yourself, "where are my dividends?" posts are coming! 

[Ashitank]

Lab_Rat please kindly update both estimated hash rate per share & Current hash rate per share as you start to get more mining power online , I find this info valuable to people buying your shares.

[pixl8tr]

Lab_Rat please kindly update both estimated hash rate per share & Current hash rate per share as you start to get more mining power online , I find this info valuable to people buying your shares.

Look here  http://www.labratmining.com/currentHashrate.html

[mufa23]

Brace yourself, "where are my dividends?" posts are coming!  

Yup. 122GH/s (in hand) divided by the bonds sold (~26,000) is about 4.7 MH/s per bond. This Saturday's payout will be next to nothing. However, good news for investors. This will probably anger some people, and they'll sell off some bonds for cheap. I'm already waiting to buy them up.

[mmmerlin]

Brace yourself, "where are my dividends?" posts are coming!  

Yup. 122GH/s (in hand) divided by the bonds sold (~26,000) is about 4.7 MH/s per bond. This Saturday's payout will be next to nothing. However, good news for investors. This will probably anger some people, and they'll sell off some bonds for cheap. I'm already waiting to buy them up.

Surely people can't be that stupid, can they? There were never going to be dividends for a long time, surely even the most stupid out there realise that 0.00001>0 no?

[narayan]

Havelock Investments seems to be going downhill with all those lackluster IPOs. SANDSTORM, and then this.

[maqifrnswa]

Brace yourself, "where are my dividends?" posts are coming! 

Yup. 122GH/s (in hand) divided by the bonds sold (~26,000) is about 4.7 MH/s per bond. This Saturday's payout will be next to nothing. However, good news for investors. This will probably anger some people, and they'll sell off some bonds for cheap. I'm already waiting to buy them up.

Surely people can't be that stupid, can they? There were never going to be dividends for a long time, surely even the most stupid out there realise that 0.00001>0 no?

immediately followed by

Havelock Investments seems to be going downhill with all those lackluster IPOs. SANDSTORM, and then this.

i found it funny

[mmmerlin]

Brace yourself, "where are my dividends?" posts are coming! 

Yup. 122GH/s (in hand) divided by the bonds sold (~26,000) is about 4.7 MH/s per bond. This Saturday's payout will be next to nothing. However, good news for investors. This will probably anger some people, and they'll sell off some bonds for cheap. I'm already waiting to buy them up.

Surely people can't be that stupid, can they? There were never going to be dividends for a long time, surely even the most stupid out there realise that 0.00001>0 no?

immediately followed by

Havelock Investments seems to be going downhill with all those lackluster IPOs. SANDSTORM, and then this.

i found it funny

+1. Amazing.

[mufa23]

Brace yourself, "where are my dividends?" posts are coming! 

Yup. 122GH/s (in hand) divided by the bonds sold (~26,000) is about 4.7 MH/s per bond. This Saturday's payout will be next to nothing. However, good news for investors. This will probably anger some people, and they'll sell off some bonds for cheap. I'm already waiting to buy them up.

Surely people can't be that stupid, can they? There were never going to be dividends for a long time, surely even the most stupid out there realise that 0.00001>0 no?

immediately followed by

Havelock Investments seems to be going downhill with all those lackluster IPOs. SANDSTORM, and then this.

i found it funny

+1. Amazing.

I rest my case, your honor. 

*waits to buy more bonds*

[||bit]

My main concern is the rate of receiving hardware. LR ordered 3TH from BFL not too long ago. I'm a risk taker - afterall, I'd buy LRM 'bonds'   - but that's something I wouldn't do. Why? Because I'm still waiting on delivery of a June/July 2012 order. So, my concern is when LRM receives it, will it be able to recoup the ~$132,000 spent on the 3TH (i.e. with the difficulty growing as fast as it is, and new hardware on the horizon at fractions of BFL prices)?  

The reason I'd feel a bit safer (less risk) to buy LRM 'bonds' is the diversifying of hardware purchases that appear to be being made. So far, LR has some Bitfury orders in place which should counter some losses incurred from BFL purchases (well, if that happens to become a loss).

Cointerra and others seem interesting. I won't be too surprised if 500GH machines eventually retail for $500 or less. It might be wise to hold some of those funds at LRM for such buying markers/opportunities. Either that or continuously buying the faster ASIC deliverables.

That said, I won't put it past BFL to surprise people with new competitive offers. Hopefully, in that case, they will give folks that made late BFL purchases a buying edge to recoup losses that might otherwise occur.

[Lab_Rat]

My main concern is the rate of receiving hardware. LR ordered 3TH from BFL not too long ago. I'm a risk taker - afterall, I'd buy LRM 'bonds'  - but that's something I wouldn't do. Why? Because I'm still waiting on delivery of a June/July 2012 order. So, my concern is when LRM receives it, will it be able to recoup the ~$132,000 spent on the 3TH (i.e. with the difficulty growing as fast as it is, and new hardware on the horizon at fractions of BFL prices)? 

The reason I'd feel a bit safer (less risk) to buy LRM 'bonds' is the diversifying of hardware purchases that appear to be being made. So far, LR has some Bitfury orders in place which should counter some losses incurred from BFL purchases (well, if that happens to become a loss).

Cointerra and others seem interesting. I won't be too surprised if 500GH machines eventually retail for $500 or less. It might be wise to hold some of those funds at LRM for such buying markers/opportunities. Either that or continuously buying the faster ASIC deliverables.

That said, I won't put it past BFL to surprise people with new competitive offers. Hopefully, in that case, they will give folks that made late BFL purchases a buying edge to recoup losses that might otherwise occur.

I understand your concern, and I can say with confidence that I am looking into each and every hardware manufacturer in great detail.  I will not allow LRM to fall behind in the ASIC race.  I am therefore diversifying the fund amongst any and all hardware manufacturers who actually get  their promised hardware working in the form of a prototype.  I will not be risking company funds on manufacturers who at this point could fail to bring their hardware to market.

[Lab_Rat]

Within the next couple of hours I will be paying out the first dividends on BitFunder, and I wanted to make an announcement about how this is going to work.

There have been concerns that the bonds I'm still holding (are in the process of selling) will receive a portion of the dividends.  I am here to explain why this will not happen.  On BTCT.co they have the option to "not pay dividends to yourself," whereas BitFunder does not have that option in place yet, although Ukto has stated it will be implemented.  What I will be doing to pay out the dividends is removing those bonds temporarily from the market, deleting them, and then paying out dividends to the remaining bonds.  This shouldn't stop anyone from purchasing bonds as it will only take a few minutes to do.

Next Saturday when dividends are paid out, I will not be re-listing the remaining bonds.  It has occurred to me that some individuals may choose to purchase a large quantity of bonds once dividends have begun being paid, therefore diluting the existing bondholders dividends.  As the hashrate of LRM is rising this could become a reality.  To prevent this from happening while still allowing for growth of the company, I will be selling small quantities of bonds at market price until the remaining bonds (out of the 100,000) are sold.  This will allow LRM to market regulate.  It is important to raise capital and expand without harming those who made their investments early.

The reason I have chosen next Saturday is that it is 1 full month from the day the bonds were listed, and there should be a significant amount of hashrate coming online in the next couple weeks for LRM.

As of right now LabRatMining has reached 122GH/s, but should be increasing each and every week until those large orders are received.  This means you will not be receiving a large sum of dividends this week, but the number is going to be increasing significantly from here on out.  It has come to my attention that a few members of the community may have misinterpreted what I was saying in that I am promising a minimum of 100MH/s and a likely 350+MH/s per bond.  What that statement means is that intended hashrate per bond will be paid out once all hardware is received.  I am in the process of securing a significant amount of hardware, so this number should be reached rather quickly.

These next weeks will be very exciting for everyone involved.  Thank you to everyone who has helped make this possible.

[mmmerlin]

Within the next couple of hours I will be paying out the first dividends on BitFunder, and I wanted to make an announcement about how this is going to work.

There have been concerns that the bonds I'm still holding (are in the process of selling) will receive a portion of the dividends.  I am here to explain why this will not happen.  On BTCT.co they have the option to "not pay dividends to yourself," whereas BitFunder does not have that option in place yet, although Ukto has stated it will be implemented.  What I will be doing to pay out the dividends is removing those bonds temporarily from the market, deleting them, and then paying out dividends to the remaining bonds.  This shouldn't stop anyone from purchasing bonds as it will only take a few minutes to do.

Next Saturday when dividends are paid out, I will not be re-listing the remaining bonds.  It has occurred to me that some individuals may choose to purchase a large quantity of bonds once dividends have begun being paid, therefore diluting the existing bondholders dividends.  As the hashrate of LRM is rising this could become a reality.  To prevent this from happening while still allowing for growth of the company, I will be selling small quantities of bonds at market price until the remaining bonds (out of the 100,000) are sold.  This will allow LRM to market regulate.  It is important to raise capital and expand without harming those who made their investments early.

The reason I have chosen next Saturday is that it is 1 full month from the day the bonds were listed, and there should be a significant amount of hashrate coming online in the next couple weeks for LRM.

As of right now LabRatMining has reached 122GH/s, but should be increasing each and every week until those large orders are received.  This means you will not be receiving a large sum of dividends this week, but the number is going to be increasing significantly from here on out.  It has come to my attention that a few members of the community may have misinterpreted what I was saying in that I am promising a minimum of 100MH/s and a likely 350+MH/s per bond.  What that statement means is that intended hashrate per bond will be paid out once all hardware is received.  I am in the process of securing a significant amount of hardware, so this number should be reached rather quickly.

These next weeks will be very exciting for everyone involved.  Thank you to everyone who has helped make this possible.

I think this is excellent news and a smart way of dealing with this problem, well done! And looking forward to the first dividends coming in, even if it's just a token amount!

[kslavik]

... I will be selling small quantities of bonds at market price until the remaining bonds (out of the 100,000) are sold.  This will allow LRM to market regulate.  It is important to raise capital and expand without harming those who made their investments early....

Does it mean if the market price to go down below .15 per bond (say like 0.10), you would still be selling small amounts of bonds? You have to spell it out one way or another to avoid confusion.

Thank you.

[mmmerlin]

... I will be selling small quantities of bonds at market price until the remaining bonds (out of the 100,000) are sold.  This will allow LRM to market regulate.  It is important to raise capital and expand without harming those who made their investments early....

Does it mean if the market price to go down below .15 per bond (say like 0.10), you would still be selling small amounts of bonds? You have to spell it out one way or another to avoid confusion.

Thank you.

I'm pretty sure the implication is that it will be at whichever is higher out of the market value, or the current level as per IPO pricing structure (there are only 13.3k left @0.16, after which it will be 20k @0.17), but do wait for LR or grnbrg to confirm. I don't think this will result in the price of bulk bond sales ever going down (i.e. when sold by LR), the only "cheap" bonds that will be sold will be by other people (like the hugely discounted bonds that you can pick up at the moment for 0.1599999  )

Market value will only be able to be established once the unsold shares are removed, as these currently provide an effective price cap. Once the number being released is much more limited then the free market dynamics will allow the price to fluctuate in response to events like good news in hardware acquisition deals, or successful payment of decent dividends etc.

[grnbrg]

... I will be selling small quantities of bonds at market price until the remaining bonds (out of the 100,000) are sold.  This will allow LRM to market regulate.  It is important to raise capital and expand without harming those who made their investments early....

Does it mean if the market price to go down below .15 per bond (say like 0.10), you would still be selling small amounts of bonds? You have to spell it out one way or another to avoid confusion.

Thank you.

I'm pretty sure the implication is that it will be at whichever is higher out of the market value, or the current level as per IPO pricing structure (there are only 13.3k left @0.16, after which it will be 20k @0.17), but do wait for LR or grnbrg to confirm.

I've confirmed this with @Lab_Rat, and it is correct.  The bonds will be sold in the price tiers as previously stated, or at market value, whichever is higher.


grnbrg.

[mmmerlin]

About an hour ago, a purchase through BitFunder put the number of bonds sold from the IPO over 25,000.

25% of the initial issue has been sold in a little over 2 weeks.



grnbrg.

Over 30% sold now, 30,700 bonds in the wild now!

[grnbrg]

About an hour ago, a purchase through BitFunder put the number of bonds sold from the IPO over 25,000.

25% of the initial issue has been sold in a little over 2 weeks.



grnbrg.

Over 30% sold now, 30,700 bonds in the wild now!

Yeah, someone bought a block of nearly 3,000 bonds yesterday. 8-O  I wish I had that kind of cash to play with.....


grnbrg.