-

[||bit]

I believe I've updated the entire website. Please kindly let me know if I missed something stupid... I'll fix it immediately.

Could please tell us from whom are you going to buy future hardware from , bitfury is good but their shipment delays to us have cost us dear , how about picking-up 2nd hand KNC gear from people bailing out of mining.

At this time it is undecided, but I'm in contact with multiple suppliers.

Other than Bitfury & BFl gear , have you made any pre-order deals with any other manufacturers ie. cointera , hashfast , I would also request you to please look into Vitrual Mining corp, you could probably have a word with VMC CEO Ken slaughter on this forum to see if you can make a deal work with them because I believe VMC has got prototype chip in hand already hashing.

VMC ?!?
Are you insane...we already lose time and money, buying vaporware doesn't help...

Second hand KNC ?
Overpriced...LRM miss the boat...end of line.


For the moment Cointerra and/or maybee Clam ( https://bitcointalk.org/index.php?topic=343856.0 ) can be a good choice.

LOL 55nm & i am Insane , sure bro

At some point LRM will have to sell gear which doesnt cut it any more , 55nm doesnt bode well.

If he finds cheap enough electricity, it would work. I've heard about a location where it costs about one and half cent per kilowatt. That would mean a 55nm option would surpass 28nm in overall cost and delivery time.

Besides, as LR noted, Bitfury 55nm can compete with 28nm on power efficiency. Maybe, Bitfury will consume only 50% to 100% more power - which is not too bad - unlike something like Butterfly Labs 65nm which will be many times more power hungry.  I've also read somewhere that the Bitfury's can even be optimized further by clocking them with external clocks - something like that.

[||bit]

So, the after December 8th dividends. I suppose you might see two more difficulties increase by the time said dividends reach the bond holders. Let's say that equates to 45% increase in difficulty. Hashrate delivered to bond holders will be ~500% of present rate. Applying the difficulty increase, 500% / 1.45 = 245% improvement in dividends. Not what I'd personally call skyrocketing, but certainly seems like it should be better than anything delivered to date. At least it will be nearing some kind of cruising altitude. Whatever hardware is bought with the two weeks snatch (actually it will average longer than two weeks if you want to be technical) will be interesting.

[bigdude]

Sorry for the question, but what is the 14 days that starts on Monday?

What is this about?

Thanks

[fractal02]

Sorry for the question, but what is the 14 days that starts on Monday?

What is this about?

Thanks

Everything is here : http://www.labratmining.com/

[bigdude]

Sorry for the question, but what is the 14 days that starts on Monday?

What is this about?

Thanks

Everything is here : http://www.labratmining.com/

Yes, I read that, and the last few pages. There is reference to 'the 14 day period'. But what about it?

From the site:
- This massive amount of equipment ... is now all online and will begin the 14 day period on Monday
- There will be a substantial amount of BTC to invest after this 14 day period is over

Do you see any explanation of what "this 14 day" period is about.

[countduckula]

The "14 days period" is 15-20TH of equipment mining towards a fund for new hardware for 14 days.

[bigdude]

The "14 days period" is 15-20TH of equipment mining towards a fund for new hardware for 14 days.

Ok, so no dividends for the 14 days to build the fund?

[countduckula]

No dividends for those 15-20th.

Yes dividends from what its running already, about 5.25.

[bigdude]

No dividends for those 15-20th.

Yes dividends from what its running already, about 5.25.

Ok, thanks for clarifying.

[bigasic]

I realize that we will be getting around 5ths for the next 2 weeks, but im assuming that the revenue that has been mined (since LRM started getting machines around 2-3 weeks ago) all of it will be going towards new equipment, not just the two weeks starting monday..

LR, could you clarify how many coins that are "extra" from the time you started receiving the non dividend equipment up until this monday? I hope i made sense. Im assuming that those coins are going towards new equipment.

[countduckula]

Those coins are going to new equipment too.

[Mindsync Miner]

Got a note from Lab_Rat that pool luck was crappy this week.  Dividends are going to be less pretty than expected.  

grnbrg.

It was a crap fest on Bitparking this week too.  The last couple days have been bad on Eclipse too.  So much bad luck, so little time.

[goddardnet]

If my records are correct... LRM has now paid out BTC808.91411207 to bondholders. Lets have a party when it breaks 1000?

Paaaaaaaaaaaaaaaaarrrrrrty.

I'll bring the cheesy nibbles!

[Doff]

Great updates. Is it possible to get a quick note on what will be done about getting the shares back on an Exchange or an automated place to trade shares?

[maqifrnswa]

I am actually curious as to how others on BitFunder/BTCT.co handled getting booted... From what I heard a lot just looked for a cheap buyout of their bond/share/contract holders and jumped ship.

Many went to direct shares, like LRM did. A few are exploring trustless trading systems using the block chain to verify transaction (ala OgNasty/NastyFans) and keep an automated list of shares (fee-free trading). Most were essentially group buys, so their securities are designed to fall to zero value and not much needed for exchange.

Some are actually doing zero-fee direct share exchanges over the forums (ADDICTION). I cannot recommend tyrion70 and blastbobb enough, if anyone is interested in group buys in the future - their operation is amazing, I'm very happy with them.

Clarifying that I will be putting up a decent amount for reinvestment*** It will be coming out of LRM's 25%

How generous

[maqifrnswa]

Really does seem as though $1mill should have bought a lot more hash power than 25 Th.

I can assure you that with the exchange rates at time of purchases there wasn't a $1m to play with...

what is the model for sustainability now that all the IPO has been spent? Yes, I know about the reinvesting the 25% and the two weeks of mining - but that can be unsustainable and accelerate failure if done improperly. These are things that if you released financial statements months ago, your investors could have helped you avoid a potential death spiral.

I know you don't think about these things and get annoyed when investors ask for accountability, so I'm not expecting an answer.

[CumpsD]

I am actually curious as to how others on BitFunder/BTCT.co handled getting booted... From what I heard a lot just looked for a cheap buyout of their bond/share/contract holders and jumped ship.

Many went to direct shares, like LRM did. A few are exploring trustless trading systems using the block chain to verify transaction (ala OgNasty/NastyFans) and keep an automated list of shares (fee-free trading). Most were essentially group buys, so their securities are designed to fall to zero value and not much needed for exchange.

Some are actually doing zero-fee direct share exchanges over the forums (ADDICTION). I cannot recommend tyrion70 and blastbobb enough, if anyone is interested in group buys in the future - their operation is amazing, I'm very happy with them.

We're stuck with a forum non-fee-less version

Even if I wanted more LRM shares, I'd make a loss at the fee

I hope there will be some fee-less solution soon

[goddardnet]

I am actually curious as to how others on BitFunder/BTCT.co handled getting booted... From what I heard a lot just looked for a cheap buyout of their bond/share/contract holders and jumped ship.

Many went to direct shares, like LRM did. A few are exploring trustless trading systems using the block chain to verify transaction (ala OgNasty/NastyFans) and keep an automated list of shares (fee-free trading). Most were essentially group buys, so their securities are designed to fall to zero value and not much needed for exchange.

Some are actually doing zero-fee direct share exchanges over the forums (ADDICTION). I cannot recommend tyrion70 and blastbobb enough, if anyone is interested in group buys in the future - their operation is amazing, I'm very happy with them.

We're stuck with a forum non-fee-less version

Even if I wanted more LRM shares, I'd make a loss at the fee

I hope there will be some fee-less solution soon

+1

As a small bond holder I do not have the means to buy even small quantities of bonds without having to find the transaction fee first!

I came to bitcoin in June, invested in LRM from the IPO and made my first BTC by September most of which has gone into LRM as I believe this will be paid back and return significantly over the coming months/years.

[Lab_Rat]

I have something very big in the works that would mean LRM is very sustainable.  I can assure you of that.

[fractal02]

I have something very big in the works that would mean LRM is very sustainable.  I can assure you of that.

Can't wait !  

This big news will be announced this week or later LabRat ?
It's related of your deal with your "anonymous" partner ?