-

[CumpsD]

Current bond list (sorted by number of bonds, which should make finding your entry easier!) at https://docs.google.com/spreadsheet/ccc?key=0Aiur3uoeAOQndGtsS1FObjNDcFlCVFFiMmhPX016VUE

I'm still poking at for my own interest, so let me know if you see anything odd.

grnbrg.

I cannot find my address on it? I have 32 bonds, according to the last PM you sent me from the Trading Thread

Could you have a look please?

[sparky999]

It's now Wednesday - 5 days since LabRat has had access to a keyboard, sorry but I don't believe you haven't had 15 minutes to address concerns of the half arsed announcement you threw out 5 days ago.

If your working 18 hours a day right now try working 18 hours and 15 minutes just one day soon please.

[sparky999]

Friedcat just droppped details on their next gen chips - he is looking for partners. Lab-Rat thoughts? If he can hit those specs it's gonna be one of the best chips on the market.

https://bitcointalk.org/index.php?topic=438359.0

[crazyearner]

Payment sent however in future please provide tx ids t make things simple

Status: 0/unconfirmed, broadcast through 18 nodes
Date: 29/01/2014 19:52
To: 1B1ZvpshwzXns4RZy31zTYD6XVGGWQM5ft
Debit: -0.01468057 BTC
Transaction fee: -0.002 BTC
Net amount: -0.01668057 BTC
Transaction ID: 5e5cc4c8c8dcbfc488ec508f5a396fcb250b42e822b3572abaa61076f74485c6

[Komodorpudel]

Current bond list (sorted by number of bonds, which should make finding your entry easier!) at https://docs.google.com/spreadsheet/ccc?key=0Aiur3uoeAOQndGtsS1FObjNDcFlCVFFiMmhPX016VUE

I'm still poking at for my own interest, so let me know if you see anything odd.

grnbrg.

I cannot find my address on it? I have 32 bonds, according to the last PM you sent me from the Trading Thread

Could you have a look please?

Also can't find my address, nevertheless i received divs every week.

[grnbrg]

Current bond list (sorted by number of bonds, which should make finding your entry easier!) at https://docs.google.com/spreadsheet/ccc?key=0Aiur3uoeAOQndGtsS1FObjNDcFlCVFFiMmhPX016VUE

I'm still poking at for my own interest, so let me know if you see anything odd.

grnbrg.

I cannot find my address on it? I have 32 bonds, according to the last PM you sent me from the Trading Thread

Could you have a look please?

Also can't find my address, nevertheless i received divs every week.

Did you at some point change the address you used?  I basically grabbed the first two columns out of Lab_Rat's spreadsheet, which means that if you've changed from the address you used at BitFunder, that change may not be reflected.  (This was the issue with CumpsD, BTW)

My spreadsheet-fu is weaker than Lab_Rat's.  I will update this evening to fix this.



grnbrg.

[spuushie]

It's now Wednesday - 5 days since LabRat has had access to a keyboard, sorry but I don't believe you haven't had 15 minutes to address concerns of the half arsed announcement you threw out 5 days ago.

If your working 18 hours a day right now try working 18 hours and 15 minutes just one day soon please.

This!

[ICantThinkOfaName]

@Labrat

[Komodorpudel]

Current bond list (sorted by number of bonds, which should make finding your entry easier!) at https://docs.google.com/spreadsheet/ccc?key=0Aiur3uoeAOQndGtsS1FObjNDcFlCVFFiMmhPX016VUE

I'm still poking at for my own interest, so let me know if you see anything odd.

grnbrg.

I cannot find my address on it? I have 32 bonds, according to the last PM you sent me from the Trading Thread

Could you have a look please?

Also can't find my address, nevertheless i received divs every week.

Did you at some point change the address you used?  I basically grabbed the first two columns out of Lab_Rat's spreadsheet, which means that if you've changed from the address you used at BitFunder, that change may not be reflected.  (This was the issue with CumpsD, BTW)

My spreadsheet-fu is weaker than Lab_Rat's.  I will update this evening to fix this.



grnbrg.

Yeah, that's it, i changed my adress after the bitfunder shutdown.  Problem solved

[Bargraphics]

Sorry guys,

Been taking up all of Lab Rats time since the Miami conference. After it was over I flew up to New Jersey to see the operation and of course take up more of his time hah. However I was able to help him straighten out some of the Bitfury Rigs so there should be a decent boost on Ghash.io

I'm at the airport now leaving him so I expect he will be available soon to address any concerns. He's working hard!

[M31]

Sorry guys,

Been taking up all of Lab Rats time since the Miami conference. After it was over I flew up to New Jersey to see the operation and of course take up more of his time hah. However I was able to help him straighten out some of the Bitfury Rigs so there should be a decent boost on Ghash.io

I'm at the airport now leaving him so I expect he will be available soon to address any concerns. He's working hard!

Thanks for the update Bargraphics, and thanks for helping increase Lab's warp drive output

[Lab_Rat]

Hello all,

as BarGraphics said, I've been extremely busy over the past couple weeks.  I'm glad that I have the time to release a formal update with more information.

I would like to start off by clarifying the dividend mixup.  This mixup is unrelated to any circumstances going on at this moment other than the fact that I was out of town at the conference.  I decided to give the individual who screwed up dividends months back on BitFunder a second chance.  She handled the payout properly but made a simple mistake on creating the spreadsheet.  After freaking out for a few moments while over 1000 miles away from the situation at hand I began working on a way to resolve the situation as fairly as possible.  I called grnbrg to get an investors point of view and ensure I was taking the right path.  I was originally going to flat out eat the cost of paying the extra to those underpaid, but grnbrg brought up a very valid point.  Besides the fact of those who were paid what they should have been being at a disadvantage to those who were overpaid, LRM would then have less funds to reinvest.  This turned to the decision to require overpaid funds to be returned.  As Bitcoin was designed, there are no chargebacks so each individual has the right to refuse.  As a fix for this bondholders who refuse to payback funds will retain ownership of their bonds forcefully until the dividends have covered their overpayment.  They will not be able to transfer their bonds at all.  I will gladly thank all of you who have returned funds.  I have been sending out emails to those of you who were overpaid by a significant amount and to verify the emails are truthful and I am the ones sending them, you will receive a link to this post.  For all of you who see this and wish to actively seek repayment, please feel free to email me at labrat@labratmining.com and your overpayment amount will be sent to you.  To avoid mass emails, If you received 2 dividend payments, you were paid the CORRECT amount, please do not inquire.

The next hot topic I would like to cover is CoinSeed.  CoinSeed has a vast amount to offer LRM, with not a whole lot more work than I'm already doing for LRM, the location is just different.  Working with CoinSeed provides the benefits of piggybacking on deals to ensure the lowest cost possible for hardware at the shortest time frame possible.  In addition to this, CoinSeed provides a hosting location with some redundancy that is not cost effective on a smaller mine as well as a buildout team and solid infrastructure in an area with some of the lowest power costs in the world.  There are a few things that partnering with Merlin Kauffman is offering LRM that I can not share at this time, as is the case with any other company in the world.  Can't tell the public everything unfortunately until the time is right.  There are a few projects that are in the works that are far too exciting to pass up and WILL benefit each and every person who has invested with LabRatMining.

As for inviting BarGraphics up to visit the mine.  This was for a few business reasons that are also exciting, but the main intention was to validate LRM to the public as there is now a trusted witness to the mine(s) and also have some fun working on the hardware and <sarcasm>enjoy the sub 20F temperatures.</sarcasm>

I hope that this clears up some of the uncertainty that was left after the CoinSeed announcement.  It was released at a time that disallowed much interaction by the public which is unfortunate, but BarGraphics can rightfully verify that I'm not going anywhere.  The skeptics can put down the pitchforks and torches now and ask me questions they would like.  I believe I can make at least a few minutes every day to field some answers every day through next tues (2/4)

Thank you for your patience and I hope no one had a heart attack waiting for more information.

[Lab_Rat]

Back on Dec. 21st, Labrat posted the following estimates:
    DEC/JAN (25+TH)
    JAN/FEB (50+TH)
    FEB/MAR (150-250TH)
    MAR+ (? PH ?)

(Now, to be totally fair, he didn't specify which year these estimates were for...  but... )

Now, some members are wondering just how realistic those estimates were.  (And are giving LR some grief in the process.)  Adding to the uncertainty is the online difficulty/hashrate data graph not being updated in months.  Bail, hold, or double-down...  The answer isn't clear given the limited info most of us have access to at the moment and uncertainty is NOT an investors friend.

To be clear on my own view...  I have no reason to doubt the good intentions of Labrat and grnbrg.  But all the good intentions in the world don't help us stay ahead of an exponential difficulty curve.  I hope that the rumored "good news" gets us well ahead of the curve.

After making the announcement tonight I read back to this and wanted to address.  The Dec/Jan hardware is in hand, I was just letting it mine to pay itself off part way as it came from my pocket  but it's about time to start moving it over to LRM.  Better Nate than Lever right, I believe it's still January.  The Jan/Feb bump is Monarchs which were some of the first ordered and should be delivered as soon as they're ready.  I have a feeling they'll be ready in two more weeks.  The Feb/Mar hardware is pretty well confirmed to be the first half of March and will put LRMs total hashrate toward the higher end of that number at ~210TH.  The Mar+ timeframe is still uncertain, but I can see us hitting 1 PH very easily in 2014, the exact amount is going to be played by ear.

[Lab_Rat]

AND PLEASE DONT LYNCH GRNBRG he's very helpful and only messed up once by letting the cat out of the bag a little early haha.

[bittymitty]

Can you give us projections for hashrate per bond over the next few months. 

Can you also tell us what plans you have for an exchange?

keep up the good work

[grnbrg]

AND PLEASE DONT LYNCH GRNBRG he's very helpful and only messed up once by letting the cat out of the bag a little early haha.

Oi!  I did not!

I only mentioned that there was a cat, and the bag was going to be opened soon.   



grnbrg.

[Lab_Rat]

AND PLEASE DONT LYNCH GRNBRG he's very helpful and only messed up once by letting the cat out of the bag a little early haha.

Oi!  I did not!

I only mentioned that there was a cat, and the bag was going to be opened soon.   



grnbrg.

This is true

[Lab_Rat]

Can you give us projections for hashrate per bond over the next few months. 

58792 currently outstanding bonds. With an expected hashrate of:

25-30TH in the next week or so (318.915-382.703 MH/s per bond)
50-55TH in the next month (637.842-701.626 MH/s per bond)
205-215TH beginning of March (some of this could get sent a little early  ) (2.615-2.743 GH/s per bond)

These are estimates and are in no way binding if off by a small amount.  Certain factors could change these projections.

Can you also tell us what plans you have for an exchange?

I can't share this yet, but I have not forgotten about this.  It's being worked on and hopefully a solution can be worked out in the near future.

[hamburgerhelper]

"As a fix for this bondholders who refuse to payback funds will retain ownership of their bonds forcefully until the dividends have covered their overpayment."

Um, there is already such a system in place. Its called SELLING BONDS IN A FORUM THREAD.

--

"The Dec/Jan hardware is in hand, I was just letting it mine to pay itself off part way as it came from my pocket  but it's about time to start moving it over to LRM."

My jaw dropped when I read this. How long has it been mining for you personally? This is going to be another case where I ask for clarification and you ignore me. But for the love of dog, please tell me you haven't been keeping the proceeds from this hardware for more than two weeks. There is no appropriate justification for this if its true. "it came from my pocket" is not a credible explanation after you've sold thousands of BTC worth of bonds to buy hardware. If you are jumbling your personal mining endeavors with LRM mining, then please, please buy my bonds back now so I can get off of the crazy train.

--

And just so that it is a matter of public record, I was overpaid. It is substantially less than this coming Saturday's dividend payment, and as LR mentions above, the difference will be subtracted from my payment. Problem solved.

[Lab_Rat]

"As a fix for this bondholders who refuse to payback funds will retain ownership of their bonds forcefully until the dividends have covered their overpayment."

Um, there is already such a system in place. Its called SELLING BONDS IN A FORUM THREAD.

--

"The Dec/Jan hardware is in hand, I was just letting it mine to pay itself off part way as it came from my pocket   but it's about time to start moving it over to LRM."

My jaw dropped when I read this. How long has it been mining for you personally? This is going to be another case where I ask for clarification and you ignore me. But for the love of dog, please tell me you haven't been keeping the proceeds from this hardware for more than two weeks. There is no appropriate justification for this if its true. "it came from my pocket" is not a credible explanation after you've sold thousands of BTC worth of bonds to buy hardware. If you are jumbling your personal mining endeavors with LRM mining, then please, please buy my bonds back now so I can get off of the crazy train.

--

And just so that it is a matter of public record, I was overpaid. It is substantially less than this coming Saturday's dividend payment, and as LR mentions above, the difference will be subtracted from my payment. Problem solved.

grnbrg and I verify all transactions before bonds change hands and can turn down a sale.

The hardware has been in hand for about a week as that's all it took to pay it off (I got it cheap) and there's still another TH coming in.  This will be added to LRM after this weeks div payment.  I just didn't want to use company funds on it.  Be glad I'm adding it when I could just as well keep it theoretically.