-

[levi]

Divedends received. 0.00066618 per "new" share.

I assume this was a baloon payment as we've all been locked to 100MH/s for a while now.  So I'd assume this would be the back pay of "bonuses"which would essentially be the effective hash rate should our shares be uncapped.

[sparky999]

I told grngb and zach to convert but I still got the small pay out, what us up with that? Zach doesn't reply to my emails so what am I supposed to do now? I feel like I just got screwed

[runam0k]

Folks who are butthurt are butthurt through their own arrogance or ignorance. Folks who had faith in Zach and read about the problems and the possible solutions have been justly rewarded.

Vince, please.

I switched my contracts but it was through coercion, pure and simple.  The contract we signed - you apparently willingly, with complete faith - is complete bullshit.  It's so bad it's probably invalid.  LR can turn around tomorrow and pay 100MHs and zero "bonus" for the months and years ahead under the new terms.  And how the hell did LR generate the BTC for this week's "bonus", in just one week?  I suspect much of it was stripped from the woeful returns of previous weeks.  Yours and mine.  It goes without saying we will never know, but hey.

Frankly, I admire the folk who took a stand.  It was not arrogance or ignorance, it was integrity and strength of moral belief.  They make you look small.  (They make me look small, but at least I know I was coerced.)

[runam0k]

Divedends received. 0.00066618 per "new" share.

I assume this was a baloon payment as we've all been locked to 100MH/s for a while now.  So I'd assume this would be the back pay of "bonuses"which would essentially be the effective hash rate should our shares be uncapped.

LR tripled our contracts to account for the hashrate at the time.  Which suggests he's been hashing with new equipment - and setting some or all of those proceeds aside - for a significant period of time, possibly since 8 March (the date of the supposed contract change).  Of course we will never know for sure because LR doesn't disclose what he's hashing with, how much BTC he's taking in, what the overheads are, etc.

[CumpsD]

Hope it isn't a one time balloon bonus, but a weekly occurence now to be honest

[bobfranklin]

Folks who are butthurt are butthurt through their own arrogance or ignorance. Folks who had faith in Zach and read about the problems and the possible solutions have been justly rewarded.

Vince, please.

I switched my contracts but it was through coercion, pure and simple.  The contract we signed - you apparently willingly, with complete faith - is complete bullshit.  It's so bad it's probably invalid.  LR can turn around tomorrow and pay 100MHs and zero "bonus" for the months and years ahead under the new terms.  And how the hell did LR generate the BTC for this week's "bonus", in just one week?  I suspect much of it was stripped from the woeful returns of previous weeks.  Yours and mine.  It goes without saying we will never know, but hey.

Frankly, I admire the folk who took a stand.  It was not arrogance or ignorance, it was integrity and strength of moral belief.  They make you look small.  (They make me look small, but at least I know I was coerced.)

As pointed out in the original contract he could have also done the same thing...

[xuyongpku]

I have told lab_rat and grnbrg to switch to new contract. May I received the complete dividends of this week?

[SimonBelmond]

OK this weeks Divs were great (if switch occured to new contract). THX for that. Hope it continues like that every week.  

Now I know that it sucks if conditions change during a game. I totally understand everyone who is pissed because of that. However, we all knew we are totally dependent on LR to have our best interests in mind or we are screwed anyway. Everyone knew the risk involved and hopefully did not think they get rick quick and never have to work again.  

Does anyone have the updated list on how many % of IPO price we made back so far?

I must admit that I have some other investments in mining "companies" and compared to what happens there this is a very luxurious situation as LRM bondholders.

1.) They haven't payed any divs so far (none, nada, nill, ...) although the IPO happend the same time on BitFunder.
2.) Now they want us to fill out 4 pages of forms and a witness also has to give all their details and sign this shit for Hong-Kong regulators. Questions go as far as if you have mental illnesses, if you are not well socially connected etc. Still unsure if you get any divs ever if you do not submit all your personal info including bank accounts and all just to be listed on Cryptomex.io
3.) The company got as a whole got scammed by ScamFast and so far no communication regarding what compensation (if any) we will get for it. No progress in months.

https://bitcointalk.org/index.php?topic=269216.0

Good thing I only invested about 3% of what I invested in LRM there. Still sucks. I know this might not be of your interests but I just thought that I give a little comparison regarding how bad it acctually can be...

[JoeGruff]

This weeks dividends were great! 50 more weeks of this and I'll be back to what I started with!

[Flashman]

I switched my contracts but it was through coercion, pure and simple.  The contract we signed - you apparently willingly, with complete faith - is complete bullshit.  It's so bad it's probably invalid.  

Ditto... I got over it being "last chance to sue" due to it seeming full of holes, figure I can go along for the ride until we have other actionable problems.

[VinceSamios]

And how the hell did LR generate the BTC for this week's "bonus", in just one week?  I suspect much of it was stripped from the woeful returns of previous weeks.  Yours and mine.  It goes without saying we will never know, but hey.

Dude we already know he has at-least 150TH/s online. But has only been paying dividends for the 25th/s ish while he was figuring out the problems.

[wingcom]

Yes, this week's dividends were great.

The problem is that we come from a system that was based on high reinvestment, low dividends: we buy hashing power but not all of it's output flows into our wallets as dividends: no, we reinvest. When a company reinvests, it's goal should always be the increase in the company's worth and thus the worth of one bond. Whatever is not reinvested can be paid out as dividends.

By putting "Fixed 100Mh/s" on the contract it essentially makes the bonds worthless. So the system changes - or should - from high reinvestment to high dividends but there is no way to calculate those dividends anymore like you would when you really had 100Mh/s while it was still worth something. Instead, we get 100Mh/s plus a bonus. What is this bonus based on? Will my reinvestment ever be paid back this way? Who is gonna buy this formula? Seriously?

You don't know if this will ROI. But off course you never know this. But what you DO have in a "normal" shareholder situation is the ability to opt out... sell your bonds if you think the investment will not pay back anymore. But as stated above this is taken from us by placing "Fixed 100Mh/s" on the contract. On Cex.io, the price of one Gh/s at this moment is 0.0068BTC which will also not grow but you WILL receive full mining profit from it and it is up to you to decide if you want to reinvest and buy more Gh/s.

So it comes down to trust again. And trust is thin these days. I really do NOT believe that Zach is a scammer but I do think that this should be resolved and decided upon by more then one person. We invested and reinvested in LRM as a whole, it's sad to see that a share of LRM compares to the price of "100Mh/s" right now. As long as "bonus" is not defined somehow, it means nothing. Basically you put your trust in one person. And even though Zach is probably trustworthy, what happens when he is out of the picture? Hit by a truck, dead? Is the next LRM owner going to be trustworthy too?. Yes, testimonies over time might change this but that doesn't give me a warm, fuzzy feeling right NOW :s. It feels like I'm being forced to gamble with no option to cash out. The value of one bond will decline forever and we do not have any clue as to how we MIGHT make money from our investment. Right now everyone wonders "Will I ever get paid back?" We are not even considering "Was this a good investment? Will I MAKE money from this?"

It's just not right that our ROI is based on the whims and likes of ONE person (but again: I'm not calling anybody a liar or a cheater here. I think we could have done ALOT worse. I still think Zach is willing and is trustworthy or I wouldn't have signed this new contract.) The bonus that was paid is great. But how does this compute? Will it go down forever from now on? Will it go up or will it constantly fluctuate? I ask again: "Who will buy this formula?" If it is so great, people should be lining up to buy more of LRM - like I once did when conditions were great.

A little bit of transparency would be great here... I still don't understand why it was legally wrong that our hashrate grew. We buy part of the company, the company's activity is hashing and it's profits are determined by it's hashrate. For our part to grow, so should our hashrate. Is that not the purpose of buying shares? You bet on them to grow? Any other method is just saying you are now a copy of cex.io where you buy hashrate and it stays that way. Right now we are neither a shareholder nor did we buy hashrate. We are floating in gray areas.

It's shady at best...

[bobfranklin]

And how the hell did LR generate the BTC for this week's "bonus", in just one week?  I suspect much of it was stripped from the woeful returns of previous weeks.  Yours and mine.  It goes without saying we will never know, but hey.

Dude we already know he has at-least 150TH/s online. But has only been paying dividends for the 25th/s ish while he was figuring out the problems.

We know?
How? What was the total orders of Bitfury he has? (that a part of is hashing now)

[grnbrg]

I told grngb and zach to convert but I still got the small pay out, what us up with that? Zach doesn't reply to my emails so what am I supposed to do now? I feel like I just got screwed

:facepalm:

Yeah, you were one of the first to convert, I think.  Zach has said he would fix such omissions.



grnbrg.

[VinceSamios]

And how the hell did LR generate the BTC for this week's "bonus", in just one week?  I suspect much of it was stripped from the woeful returns of previous weeks.  Yours and mine.  It goes without saying we will never know, but hey.

Dude we already know he has at-least 150TH/s online. But has only been paying dividends for the 25th/s-ish while he was figuring out the problems.

We know?
How? What was the total orders of Bitfury he has? (that a part of is hashing now)

https://twitter.com/LRM_News

https://twitter.com/LRM_News/status/414936894762266625
"with  the sale of more bonds it could very easily push past 200TH in addition  to the 50TH in hand already"

https://twitter.com/LRM_News/status/426560802837913600
"LRM has locked in an order with a guaranteed hashrate of 156+TH/s."

https://twitter.com/LRM_News/status/414936849119838208
"FEB/MAR (150-250TH est): Bitfury equipment should start shipping out by the end of February which will be a minimum of 100TH, but (...)"

So 50 TH in hand, and I believe 75% of the bitfury order rolled out = 117TH/s + 50th/s = 167Th/s

[grnbrg]

I have told lab_rat and grnbrg to switch to new contract. May I received the complete dividends of this week?

I have received your PM to convert to the April 25th contract.  I will pass it on to Zach, and you will begin receiving any bonus payments beginning next week.



grnbrg.

[grnbrg]

I have told lab_rat and grnbrg to switch to new contract. May I received the complete dividends of this week?

I have received your PM to convert to the April 25th contract.  I will pass it on to Zach, and you will begin receiving any bonus payments beginning next week.

Unless there are unusual. extenuating circumstances, anyone who did not convert to the April 25th contract before the May 10th divs were paid were therefore not eligible for the May 13th bonus payment.  You still have the option to convert to be eligible for future bonus payments.

If there is anyone who did contact myself or Lab_Rat to convert prior to the May 10th dividend payment, but did not receive the bonus payment, please contact myself or Lab_Rat, and we will resolve the issue.  Zach does not believe there are any people in this category, however.  (And note that the error reported by sparky999 was not due to a lost email.  It was a more complex problem, which is being resolved.)



grnbrg.

Edit:  Because calendar.

[grnbrg]

I have told lab_rat and grnbrg to switch to new contract. May I received the complete dividends of this week?

I have received your PM to convert to the April 25th contract.  I will pass it on to Zach, and you will begin receiving any bonus payments beginning next week.

Unless there are unusual. extenuating circumstances, anyone who did not convert to the April 25th contract before the May 13th divs were paid were therefore not eligible for the May 13th bonus payment.  You still have the option to convert to be eligible for future bonus payments.

If there is anyone who did contact myself or Lab_Rat to convert prior to the May 13th dividend payment, but did not receive the bonus payment, please contact myself or Lab_Rat, and we will resolve the issue.  Zach does not believe there are any people in this category, however.  (And note that the error reported by sparky999 was not due to a lost email.  It was a more complex problem, which is being resolved.)

May 13th? Try again...

Fuck.

I hate it when I moron.



grnderp.

[daemonfox]

I have told lab_rat and grnbrg to switch to new contract. May I received the complete dividends of this week?

I have received your PM to convert to the April 25th contract.  I will pass it on to Zach, and you will begin receiving any bonus payments beginning next week.

Unless there are unusual. extenuating circumstances, anyone who did not convert to the April 25th contract before the May 13th divs were paid were therefore not eligible for the May 13th bonus payment.  You still have the option to convert to be eligible for future bonus payments.

If there is anyone who did contact myself or Lab_Rat to convert prior to the May 13th dividend payment, but did not receive the bonus payment, please contact myself or Lab_Rat, and we will resolve the issue.  Zach does not believe there are any people in this category, however.  (And note that the error reported by sparky999 was not due to a lost email.  It was a more complex problem, which is being resolved.)

May 13th? Try again...

Fuck.

I hate it when I moron.



grnderp.

Feel free to delete it as i deleted the above post and will also delete this one afterwards.

[grnbrg]

I have told lab_rat and grnbrg to switch to new contract. May I received the complete dividends of this week?

I have received your PM to convert to the April 25th contract.  I will pass it on to Zach, and you will begin receiving any bonus payments beginning next week.

Unless there are unusual. extenuating circumstances, anyone who did not convert to the April 25th contract before the May 13th divs were paid were therefore not eligible for the May 13th bonus payment.  You still have the option to convert to be eligible for future bonus payments.

If there is anyone who did contact myself or Lab_Rat to convert prior to the May 13th dividend payment, but did not receive the bonus payment, please contact myself or Lab_Rat, and we will resolve the issue.  Zach does not believe there are any people in this category, however.  (And note that the error reported by sparky999 was not due to a lost email.  It was a more complex problem, which is being resolved.)

May 13th? Try again...

Fuck.

I hate it when I moron.

Feel free to delete it as i deleted the above post and will also delete this one afterwards.

Don't worry about it.  I hate it when people delete posts.    And I don't mind looking derpy on occasion.



grnbrg.