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[BKM]

Hi Labrat,

Are you going to declare when you make private sales of shares?  My main concern is that you could sell the shares privately for an undisclosed amount and massively devalue our share holdings without us knowing.  I have a record of the shares held per key and I have seen two new holders in the last few days(these were not there last week as per my records).

LabRatMining   5,087   18whVGfLcTnXva7rFGqwr6DkW1RzS3zJb1
LabRatMining   2,491   1EGiTu5sz89jjvcoy2FdQNpuks3sPTNn8q

I have not seen this amount traded on Bitfunder? At the current rate this is worth aprox 1500 btc!

If these were bought at market rate then this is good news and should mean a massive increase in hashing power even if we do take a bit hit per dividend in the short term.

I guess some more transparency in sales outside of Bitfunder would be nice otherwise I am left to speculate about this...

Not speaking for Labrat, but I know for a fact that these bond sales are specifically for the purpose of purchasing hardware from individuals (they were paid in bonds). This is reason that hash rate is rising so fast and I think is a genius way to go about it. Anyone who is selling their mining gear to LRM in exchange for bonds clearly has a vested interest in the future success of the company. I trust Zachary to ensure that these purchases are not made at too great a cost. Like anyone else who is waiting on gear to deliver, I know all to well the value of hashing power today versus hashing power "Coming Soon" 

[Lab_Rat]

Yes I am trading bonds for hardware, but nothing close to the ridiculous prices you find on eBay or BCT.org  There have been a few private sales, but nothing under market yet as I'm, for the time being, offering a deal to large purchasers.  No one has taken me up on that offer yet, but I have a feeling there are a few people out there that are interested.

[kslavik]

Hi Labrat,

Are you going to declare when you make private sales of shares?  My main concern is that you could sell the shares privately for an undisclosed amount and massively devalue our share holdings without us knowing.  I have a record of the shares held per key and I have seen two new holders in the last few days(these were not there last week as per my records).

LabRatMining   5,087   18whVGfLcTnXva7rFGqwr6DkW1RzS3zJb1
LabRatMining   2,491   1EGiTu5sz89jjvcoy2FdQNpuks3sPTNn8q

I have not seen this amount traded on Bitfunder? At the current rate this is worth aprox 1500 btc!

If these were bought at market rate then this is good news and should mean a massive increase in hashing power even if we do take a bit hit per dividend in the short term.

I guess some more transparency in sales outside of Bitfunder would be nice otherwise I am left to speculate about this...

Bitfinder does list how many outstanding shares are out there: https://bitfunder.com/asset/LabRatMining (under "Profile" tab) and this # has not changed since the dividends were paid out. I hope there is no hidden pool of bonds outside if bitfunder, right?

Interesting facts about LBM shareholders:
- There 400 LBM shareholders
- Top 10 shareholders have 21844 shares (46%)
- 173 shareholders are holding 10 or less shares for a total of 813 shares (1.75% of all shares)
- 90% of all shares are held by 22.75% of shareholders (91 people)

[||bit]

Yes I am trading bonds for hardware, but nothing close to the ridiculous prices you find on eBay or BCT.org  There have been a few private sales, but nothing under market yet as I'm, for the time being, offering a deal to large purchasers.  No one has taken me up on that offer yet, but I have a feeling there are a few people out there that are interested.

Considering you have been sitting on most of the bitcoins raised, that bitcoin value has gone up mostly since fund raising, and that your plan has apparently been to place a very large order next week for October delivery (hopefully). Then it makes sense that you would not want to spend bitcoins on in-hand asic hardware.

Assuming you can get institutional pricing, raised funds could go even further pound for pound than if a bunch of 28nm pre-orders were placed a month ago. And I suspect leveraging is likely because of the reason I have come to change my mind on buying any asic hardware personally - the numbers just aren't looking that good unless you can get institutional pricing. Retail level mining might double your investment in 6 to 10 months, but only if you can get a product cheap enough and soon enough. An institutional purchase seems like it would have at least half of that covered with quantity purchasing power. And going with a product that is delivering now makes up for the other half of the equation.

I admit to being optimistic. My prior calculations came up with a potential estimate of 0.0050337BTC/week in dividends by December. So, if you bought bonds now around 0.20, you'd be seeing a weekly return of (0.0050337/0.2)*100% = 2.5%/week which is 130% annualized (without compounding)  ... I could have missed a factor that makes it all a loss. But it would be pretty nice if it all works.

Even if that level is reached, the problem then will be sustaining that performance against the network.

[MPOE-PR]

Contracts have been posted online and in person outlining at least some obligations, however vague they may be stated.

There's no such thing as a vague contract, just as there's no such thing as an "at least some obligation", just as the processed pink swill formed into patties and sold at McDonald's isn't chicken, just as your feelings about how some guy is nice has exactly zero to do with securities.

There is one, and only one reason to continue putting money into crap like this, and it's not some notion that people won't fuck up because they're afraid of being "sued". It's not the "analyses" of known shills. It is laziness.

Pure and simple. There is no other reason to eschew actual contracts crafted by the actually transparent, there is no other reason to "invest" based on politeness and pictures. Save that shit for McDonald's, because at least there you're making YOURSELF fat, you're making YOURSELF sick.

By being freely and cluelessly lazy in Bitcoin you're strictly sending one message to the world: Bitcoin isn't real, it isn't good, and it's not worth fighting for, it's just another vat of pink goop we're going to suck in 'til the whole mess is so full of bullshit Nanny will have to come and "regulate" it for "our own protection."

[mmmerlin]

Contracts have been posted online and in person outlining at least some obligations, however vague they may be stated.

There's no such thing as a vague contract, just as there's no such thing as an "at least some obligation", just as the processed pink swill formed into patties and sold at McDonald's isn't chicken, just as your feelings about how some guy is nice has exactly zero to do with securities.

There is one, and only one reason to continue putting money into crap like this, and it's not some notion that people won't fuck up because they're afraid of being "sued". It's not the "analyses" of known shills. It is laziness.

Pure and simple. There is no other reason to eschew actual contracts crafted by the actually transparent, there is no other reason to "invest" based on politeness and pictures. Save that shit for McDonald's, because at least there you're making YOURSELF fat, you're making YOURSELF sick.

By being freely and cluelessly lazy in Bitcoin you're strictly sending one message to the world: Bitcoin isn't real, it isn't good, and it's not worth fighting for, it's just another vat of pink goop we're going to suck in 'til the whole mess is so full of bullshit Nanny will have to come and "regulate" it for "our own protection."

I agree with much of what you are saying, but I was being reticent before and left myself a little open to attack; most of the obligations are pretty clearly defined in the contracts that were signed.

Out of interest though, who are the "known shills" you are referring to?

Feel free to PM if you don't want to call people out in public, though I have a feeling this is not something you're going to be too worried about

[mmmerlin]

I agree with much of what you are saying, but I was being reticent before and left myself a little open to attack; most of the obligations are pretty clearly defined in the contracts that were signed.

Out of interest though, who are the "known shills" you are referring to?

Feel free to PM if you don't want to call people out in public, though I have a feeling this is not something you're going to be too worried about

Please do not poke the troll. Thank you.

Lol, I have seen him post perfectly reasonable and sometimes rather insightful things. He may have a bit of an acid tongue on him at times (perhaps a bit of an understatement), but be careful not to throw the baby out with the bath-water...

[bittymitty]

Hi Labrat,

Can you divulge how much hashing we acquired for giving away 1789 BTC($232,000) worth of bonds?

LabRatMining   5,087   18whVGfLcTnXva7rFGqwr6DkW1RzS3zJb1
LabRatMining   4,091   1EGiTu5sz89jjvcoy2FdQNpuks3sPTNn8q

I know a miner in the hand is worth 2 in the bush but from my napkin calculations we should have over 4 th for this give away.  I would also assume you would only pay out once the miners have been received and not before?

Thanks

[Lab_Rat]

Hi Labrat,

Can you divulge how much hashing we acquired for giving away 1789 BTC($232,000) worth of bonds?

LabRatMining   5,087   18whVGfLcTnXva7rFGqwr6DkW1RzS3zJb1
LabRatMining   4,091   1EGiTu5sz89jjvcoy2FdQNpuks3sPTNn8q

I know a miner in the hand is worth 2 in the bush but from my napkin calculations we should have over 4 th for this give away.  I would also assume you would only pay out once the miners have been received and not before?

Thanks

Those bondholders happened to purchase bonds and receive some from hardware, so those bonds were not "given away."

Most individuals who are looking to sell hardware for bonds have some money on the side and are looking to further their investment in the company.  There will be a very nice hike in hashrate again this week and nothing is paid for until received.

Were currently at ~2.7TH with some issues on Singles (being RMA'ed) so with the newly acquired singles and expected hardware 4TH should be very easily a possibility and might I add that Dave is going to be pointing some additional hashrate at LRM very soon!!!

[Lab_Rat]

Put another 1k bonds up for sale split between 0.2 and 0.225.

[maqifrnswa]

I'm not one to dig through mounds of dirt to find a single diamond.

but we will dig through billions of nonces to find a hash

[a2offrb]

I feel like we've had a lack of communication this week.  Especially seeing as how if Bit Fury is shipping, we should be seeing some decent increases in hashrate, between hardware purchases and contracted hardware.  While it's nice to see pictures and all, it would be nicer if the level of communication increased, if only on the "Such and such added to the hashrate today."  If you want to keep selling shares, Lab Rat, you need to keep up the communication of hashrate increses.  Hell, just updating your site with the latest numbers would do it.  I think the rest of LRM shareholders would disseminate information pretty quickly from there.  Maybe let grnbrg handle to communication end since he seems to be "in the know"?

FYI, the hashrate shown at the private pool for LabRat is now 1.83 TH/s.

There is an API now for the pool that could be used to dynamically read the current hashrate.  If LabRat doesn't update his website in the next few days to start using the API (instead of requiring manual updates), then I'll put something together.

MayBe api based android widget could be done for LRM to see real time mining speed?

[mmmerlin]

I feel like we've had a lack of communication this week.  Especially seeing as how if Bit Fury is shipping, we should be seeing some decent increases in hashrate, between hardware purchases and contracted hardware.  While it's nice to see pictures and all, it would be nicer if the level of communication increased, if only on the "Such and such added to the hashrate today."  If you want to keep selling shares, Lab Rat, you need to keep up the communication of hashrate increses.  Hell, just updating your site with the latest numbers would do it.  I think the rest of LRM shareholders would disseminate information pretty quickly from there.  Maybe let grnbrg handle to communication end since he seems to be "in the know"?

FYI, the hashrate shown at the private pool for LabRat is now 1.83 TH/s.

There is an API now for the pool that could be used to dynamically read the current hashrate.  If LabRat doesn't update his website in the next few days to start using the API (instead of requiring manual updates), then I'll put something together.

MayBe api based android widget could be done for LRM to see real time mining speed?

A bit OTT, no? I think I'd settle for having a link on a website to follow, and would rather LR didn't waste his time knocking up what is, IMHO, a fairly pointless app... No offense.

[mmmerlin]

Well, this seems to be the first time there's been what I would consider a meaningful slump in share prices (as opposed to the anomalies caused by low trade volume before). Any ideas on what's causing this anyone?

[mmmerlin]

I agree with much of what you are saying, but I was being reticent before and left myself a little open to attack; most of the obligations are pretty clearly defined in the contracts that were signed.

Out of interest though, who are the "known shills" you are referring to?

Feel free to PM if you don't want to call people out in public, though I have a feeling this is not something you're going to be too worried about

Please do not poke the troll. Thank you.

Lol, I have seen him post perfectly reasonable and sometimes rather insightful things. He may have a bit of an acid tongue on him at times (perhaps a bit of an understatement), but be careful not to throw the baby out with the bath-water...

I'm not one to dig through mounds of dirt to find a single diamond.

I think you've done me out of an answer... 

[Bargraphics]

Well, this seems to be the first time there's been what I would consider a meaningful slump in share prices (as opposed to the anomalies caused by low trade volume before). Any ideas on what's causing this anyone?

It was announced that Lab_Rat would give % off for bulk shares based on Market Price.

I imagine someone interested in doing this has a very good reason to sell all the way down to 0.16, making that the market price and then buying in bulk from Lab_Rat at %10-15 less (.136 - .144) making money on selling and buying direct from Lab_Rat.

Thankfully this can only be done for a short period of time at which the market will stabilize once Lab_Rat takes this offer off the table.

[bittymitty]

I would speculate the price slump is people cashing out shares they have acquired from hardware.  They can turn a quick profit and still have plenty of shares left to get dividends from later.

Lets hope the next dividend is substantial enough to bring the price back up.

[Bargraphics]

I would speculate the price slump is people cashing out shares they have acquired from hardware.  They can turn a quick profit and still have plenty of shares left to get dividends from later.

Lets hope the next dividend is substantial enough to bring the price back up.

Once the bitfury deal is done and Lab_Rat announces precise dates on Hardware Arrival and how much. This is when you will see the Market push the share price to where it should be.

[bittymitty]

I like it when the price dips, it gives me a chance to get more cheap shares

Does anyone know if Labrat is buying any Hashfast or Cointerra chips.  I have only heard about Bfl and Bitfury chips so far.

[mmmerlin]

Well if he's counting on buying a significant number of BFL Monarchs then you can count me out. If I had to bet on someone I'd be going CoinTerra all the way, but hey, that's just my opinion.

It's a shame that this new deal seems to be having this effect on the market, but as you say, it should last too long. It's not an easy optimisation problem, judging whether to go big on BitFurt that you know will arrive on time, on spec and which you're at the start of the line for, or to go for CoinTerra which will give the efficiency to mine into the furute, or how to split between the two. Once I have a bit more time on my hands I will try to formulate it as an actual maths problem and solve it for several sets of initial assumptions, but that won't be for a few weeks yet I'm afraid.