MWNinja
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January 10, 2014, 05:36:41 AM |
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If they tried a double spending attack, It would be very foolish. While they would get away with some coins, I don't think that they would get away with much. They are making too much money right now. If they did an attack, it would make the coin plummet along with their business. Do I think we should worry about it? absolutely, but it makes no sense as to why they would do a 51 percent attack, why ruin a good thing?
If they keep to their recent statement, I think everything will be fine. Lets hope that other pools start to get bigger..
They have already double spent against justdice. They also limit their block size to 250kb. Do they have the best interests of bitcoin at heart, or is it just greed?
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||bit
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January 10, 2014, 09:29:15 AM |
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Buying GH on CEX is a bad idea, imo.
A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.
Good point This is a tried and true strategy for companies which feel their share (bonds) are undervalued. It is also a huge confidence statement on the part of management. Seconded -DiggeR That makes five people with an immediate affirmative response to thinking this is the [best] thing to do with the alt coin returns. Labrat or grnbrg ... any response or thoughts of yours on this would be appreciated.
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bobfranklin
Member
Offline
Activity: 116
Merit: 10
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January 10, 2014, 11:07:02 AM |
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Buying GH on CEX is a bad idea, imo.
A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.
Good point This is a tried and true strategy for companies which feel their share (bonds) are undervalued. It is also a huge confidence statement on the part of management. Seconded -DiggeR That makes five people with an immediate affirmative response to thinking this is the [best] thing to do with the alt coin returns. Labrat or grnbrg ... any response or thoughts of yours on this would be appreciated. I think it'll give us a good boost as bondholders and increase what we can put towards this asic venture potentially as bonus above the 25%
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runam0k
Legendary
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Activity: 1092
Merit: 1001
Touchdown
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January 10, 2014, 12:15:20 PM |
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Buying GH on CEX is a bad idea, imo.
A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.
Good point This is a tried and true strategy for companies which feel their share (bonds) are undervalued. It is also a huge confidence statement on the part of management. Agreed.
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drdops
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January 10, 2014, 01:14:11 PM |
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I like the sound if that too.
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SimonBelmond
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January 10, 2014, 01:34:26 PM |
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Buying GH on CEX is a bad idea, imo.
A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.
Good point This is a tried and true strategy for companies which feel their share (bonds) are undervalued. It is also a huge confidence statement on the part of management. Agreed. +1
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Bargraphics
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January 10, 2014, 02:56:49 PM |
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Buying GH on CEX is a bad idea, imo.
A better idea would be for LR to buy LRM bonds from people selling them. And deleting the acquired amount from the list of outstanding bonds.
Currently based on the "Trade-book Thread" LabRat would only be able to buy around 400 Shares for 26BTC (What I estimate he would get for the Alt Coins currnetly) This means our shares would be worth 0.8% more. My recommendations would be to wait til we have a trading platform to do this as there will likely be more people willing to get out lower once it's on an actual exchange. I also recommend to not tell the community you are doing this until after it is done. My final recommendation is to just give out dividends on the Alt Coins in one lump sum currently and then cash them out weekly at the current going rate and add it to the dividends.
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tar_meneldur
Newbie
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Activity: 19
Merit: 0
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January 10, 2014, 03:32:01 PM |
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I'd like to see the alt coins split just like the BTC are being split: 75% to investors, 25% to new hardware.
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Lab_Rat (OP)
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January 10, 2014, 04:37:18 PM |
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I'm not planning on buying GHS on CEX, no worries.
But I'm also not moving over the rest of the HW due to the high network percentage.
Buying back bonds right now is just not a good idea as I'm trying to raise as much funds as possible to get LRM to expand. There are a couple projects going on that are limiting LRMs flow of cash making that move irresponsible.
I'd have no problem with this in April or so.
I'm likely going to take the alt coins for the time being to use 100% toward hardware.
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Frankthechicken
Member
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Activity: 112
Merit: 10
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January 10, 2014, 06:31:37 PM |
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I would agree with putting the altcoins 100% toward hardware at this point. Right now feels like an extremely critical time for LRM.
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fractal02
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January 10, 2014, 06:39:15 PM |
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I'm likely going to take the alt coins for the time being to use 100% toward hardware.
+1 Or/And for the ASIC project
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SimonBelmond
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January 10, 2014, 08:00:55 PM |
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I'm not planning on buying GHS on CEX, no worries.
But I'm also not moving over the rest of the HW due to the high network percentage.
Buying back bonds right now is just not a good idea as I'm trying to raise as much funds as possible to get LRM to expand. There are a couple projects going on that are limiting LRMs flow of cash making that move irresponsible.
I'd have no problem with this in April or so.
I'm likely going to take the alt coins for the time being to use 100% toward hardware.
Are we going to be part of 21e6?
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||bit
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January 10, 2014, 11:14:26 PM |
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I'm not planning on buying GHS on CEX, no worries.
But I'm also not moving over the rest of the HW due to the high network percentage.
Buying back bonds right now is just not a good idea as I'm trying to raise as much funds as possible to get LRM to expand. There are a couple projects going on that are limiting LRMs flow of cash making that move irresponsible.
I'd have no problem with this in April or so.
I'm likely going to take the alt coins for the time being to use 100% toward hardware.
It seems expanding LRM will be an ongoing process. When would you do a bond buy-back? In principle, buying back bonds is a good move for LRM & bond holders. It would increase weekly monies useful for more hardware purchases (i.e. LRM would expand faster) and increase dividends for bond holders (not to mention sustaining or even growing value per bond). And I wouldn't classify any good move as irresponsible. Unless perhaps, you know that you have another move or project that can easily beat bond buy-backs for the long term. For example, if you could acquire a better than bond GH/ BTC rate immediately in the form of hardware, then that might be better than a bond buy-back on the front end (not necessarily better for the long run; I'd have to do some math) - i.e. better for LRM & bond holders. Or if you had some mega clearance level deal in the works a month off, which hasn't been disclosed, then that might be better than a buy-back. If you don't know that your specific intentions are better or not, then share your intentions more often, you could take advantage of group think on potential moves for LRM & bond holders. There are plenty of intelligent people with vested interest in LRM success tracking this.
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Endlessa
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January 11, 2014, 12:36:40 AM |
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I'm not planning on buying GHS on CEX, no worries.
But I'm also not moving over the rest of the HW due to the high network percentage.
Buying back bonds right now is just not a good idea as I'm trying to raise as much funds as possible to get LRM to expand. There are a couple projects going on that are limiting LRMs flow of cash making that move irresponsible.
I'd have no problem with this in April or so.
I'm likely going to take the alt coins for the time being to use 100% toward hardware.
It seems expanding LRM will be an ongoing process. When would you do a bond buy-back? In principle, buying back bonds is a good move for LRM & bond holders. It would increase weekly monies useful for more hardware purchases (i.e. LRM would expand faster) and increase dividends for bond holders (not to mention sustaining or even growing value per bond). And I wouldn't classify any good move as irresponsible. Unless perhaps, you know that you have another move or project that can easily beat bond buy-backs for the long term. For example, if you could acquire a better than bond GH/ BTC rate immediately in the form of hardware, then that might be better than a bond buy-back on the front end (not necessarily better for the long run; I'd have to do some math) - i.e. better for LRM & bond holders. Or if you had some mega clearance level deal in the works a month off, which hasn't been disclosed, then that might be better than a buy-back. If you don't know that your specific intentions are better or not, then share your intentions more often, you could take advantage of group think on potential moves for LRM & bond holders. There are plenty of intelligent people with vested interest in LRM success tracking this. it would only make sense if fees taken in for expansion where greater than current growth rate + next period's growth (next diff change). at that point you could say hell or high water we have met our hash investment needs. . . .so a while from now
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kaneda2004
Member
Offline
Activity: 66
Merit: 10
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January 11, 2014, 01:02:12 AM |
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Labrat, can you give us an update on where all the LRM hardware orders are at? IE: number of TH from which vendor, and expected time to delivery for that specific hardware order?
I know this has probably been covered in other posts, however I'd like to see a current post-holiday update from Labrat directly.
Thanks kindly.
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Lab_Rat (OP)
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January 11, 2014, 04:57:43 AM |
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I'm likely going to take the alt coins for the time being to use 100% toward hardware.
+1 Or/And for the ASIC project That would be included in hardware.
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Lab_Rat (OP)
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January 11, 2014, 04:59:36 AM |
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Labrat, can you give us an update on where all the LRM hardware orders are at? IE: number of TH from which vendor, and expected time to delivery for that specific hardware order?
I know this has probably been covered in other posts, however I'd like to see a current post-holiday update from Labrat directly.
Thanks kindly.
I'm working on that, I've pretty well got final numbers together for outstanding orders. The Bitfury deal with Dave is pretty finalized and that's the only thing I'm not ready to release at this time.
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||bit
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January 11, 2014, 06:20:57 AM |
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Any chance at getting photos of all the hardware and not only a single BFL rig and one or two BitFury boards?
Not that I think it, but theoretically, how could anyone prove this is still not a ponzi scheme? Except, maybe by the hash-rate in the pool. Bitcoins + hardware value collected: upwards of BTC7500 Bitcoins paid out: just over BTC1000
Take us on a small tour. Even if it's a mess and not as pretty as ASICminer's facility. It's still something. Besides, we can see a before and after if LRM is ever proven successful for long term.
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mufa23
Legendary
Offline
Activity: 1022
Merit: 1001
I'd fight Gandhi.
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January 11, 2014, 07:39:31 AM |
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Any chance at getting photos of all the hardware and not only a single BFL rig and one or two BitFury boards?
This would be cool! LabRat, (I probably don't have to tell you) double check that you scrub EXIF data from any photos you may post. I'd hate to hear that someone broke into one of the mining center and stole/broke stuff.
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Positive rep with: pekv2, AzN1337c0d3r, Vince Torres, underworld07, Chimsley, omegaaf, Bogart, Gleason, SuperTramp, John K. and guitarplinker
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grnbrg
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January 11, 2014, 03:42:12 PM |
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LabRat, (I probably don't have to tell you) double check that you scrub EXIF data from any photos you may post. I'd hate to hear that someone broke into one of the mining center and stole/broke stuff.
The few photos he's given me to post have not had location data in them, but I've removed the EXIF data completely anyway. Lab_Rat has had that thought, as have I. grnbrg.
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