Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 10. (Read 452170 times)
September 29, 2014, 05:29:33 PM
When I visited them late May early June 2013 they were mining with a significant amount of hardware. I'll give more detailed numbers in a few.
September 29, 2014, 12:26:49 PM
Like Josh said, they had 65nm equipment 6 months before shipping. Who knows how much they mined and kept at that point 
I think he said that it was 6 months between getting chips for 65nm and shipping, which seems about right given the timelines.In a lot of ways, I think the Skype chat kind of vindicates BFL from some of the accusations of self-mining. The spinning and misrepresentation about deadlines is inexcusable (especially with regards to the tapeout of the 28nm chip), but from everything there it looks like these guys really could not get their products finalized and out the door in timely manner.
September 29, 2014, 11:54:52 AM
It would be interesting to audit BFL's power consumption, at the business location and employees homes, and homes of relatives/friends. I'd bet there would be some pretty huge power bills that can't be accounted for, even after the admitted mining. Instead of following the money, they should follow the power consumption!
And, to state the obvious: it feels like the lawyers don't quite have the same level of understanding of crypto that Josh does; I hope they are bringing some smarts on board!
Like Josh said, they had 65nm equipment 6 months before shipping. Who knows how much they mined and kept at that point
And, to state the obvious: it feels like the lawyers don't quite have the same level of understanding of crypto that Josh does; I hope they are bringing some smarts on board!
Like Josh said, they had 65nm equipment 6 months before shipping. Who knows how much they mined and kept at that point
September 29, 2014, 10:37:16 AM
I would like to point out that it is stated:
"We are in possession of the storage wallet that contains roughly 98 percent of the total funds."
With 910+ BTC accounted for in other wallets, that's a scary thought. My math shows 45k+ BTC hanging around in that wallet... So how many BTC did they not find that the higher ups have hidden...?
EDIT: He says total funds and 1.2M in USD is accounted for which could mean 200-250k BTC.
"We are in possession of the storage wallet that contains roughly 98 percent of the total funds."
With 910+ BTC accounted for in other wallets, that's a scary thought. My math shows 45k+ BTC hanging around in that wallet... So how many BTC did they not find that the higher ups have hidden...?
EDIT: He says total funds and 1.2M in USD is accounted for which could mean 200-250k BTC.
September 29, 2014, 10:20:36 AM
Also, I wonder if Josh's wife knows he was cheating on her every time he left town?
I must have missed that bit when I was scanning through the documents...It wasn't in the documents... It was just in there that he's been married 6 years...
September 29, 2014, 10:10:46 AM
Also, I wonder if Josh's wife knows he was cheating on her every time he left town?
I must have missed that bit when I was scanning through the documents... September 29, 2014, 09:56:57 AM
Also Josh technically lied in the deposition already. When asked about any aliases, he failed to mention inaba...
September 29, 2014, 09:52:27 AM
I read something about BFL mass ordering pitchforks etched with a Y U NO SHIP meme on them...
That's been confirmed somewhere in the documents. I've seen pictures, too, but can't remember where....
grnbrg.
September 29, 2014, 09:50:42 AM
I read something about BFL mass ordering pitchforks etched with a Y U NO SHIP meme on them...
I'm sorry but I wouldn't call Josh a white knight yet... I personally have seen otherwise.
I'm sorry but I wouldn't call Josh a white knight yet... I personally have seen otherwise.
September 29, 2014, 08:57:06 AM
Interesting...
Well, considering Josh has been the only higher-up employee to consistently interface with customers, I'm not too surprised. He always struck me as someone trying to save face and apologize for BFL's actions.
Well, considering Josh has been the only higher-up employee to consistently interface with customers, I'm not too surprised. He always struck me as someone trying to save face and apologize for BFL's actions.
September 29, 2014, 07:41:47 AM
September 29, 2014, 07:00:12 AM
Isnt that a bad return for the bonus hardware on the new PPS pool? 20% less? compared to the 10% loss in the "bonds" bought hardware.
It wouldnt be proportional, since operating expenses are covered through the bonus pool. Worse, those expenses occur in usd, and btc has been down. The irony is if btc were up, we'd all receive more btc...
and it keeps dropping......
Why? I am sure there is a thread about it... Can someone point me to it pls... Or explain.
TY
No one will be able to give a definitive answer. The glib answer is that there are more sellers than buyers.
Id guess its dollar strengthening, same reason gold and silver. Btc are more speculative than the pms, and have seen that in monstrous downward pressure. Inefficient miners will get shaken out if they need to convert btc to usd to cover operating expenses. Of course, this creates a vicious circle of more btc being sold on the market, driving prices lower. Weak hand miners have got to be getting nervous.
Curiously, alts, particularly doge, have made gains in btc terms. I shouldve hedged more in doge than I did, but its all largely a guessing game.
The speculative money is moving from BTC to the v2.0 (stealth) coins perhaps? where large swings are still occuring.
Cheers
Dave
September 29, 2014, 04:52:19 AM
Isnt that a bad return for the bonus hardware on the new PPS pool? 20% less? compared to the 10% loss in the "bonds" bought hardware.
It wouldnt be proportional, since operating expenses are covered through the bonus pool. Worse, those expenses occur in usd, and btc has been down. The irony is if btc were up, we'd all receive more btc...
and it keeps dropping......
Why? I am sure there is a thread about it... Can someone point me to it pls... Or explain.
TY
No one will be able to give a definitive answer. The glib answer is that there are more sellers than buyers.
Id guess its dollar strengthening, same reason gold and silver. Btc are more speculative than the pms, and have seen that in monstrous downward pressure. Inefficient miners will get shaken out if they need to convert btc to usd to cover operating expenses. Of course, this creates a vicious circle of more btc being sold on the market, driving prices lower. Weak hand miners have got to be getting nervous.
Curiously, alts, particularly doge, have made gains in btc terms. I shouldve hedged more in doge than I did, but its all largely a guessing game.
September 29, 2014, 12:24:43 AM
Isnt that a bad return for the bonus hardware on the new PPS pool? 20% less? compared to the 10% loss in the "bonds" bought hardware.
It wouldnt be proportional, since operating expenses are covered through the bonus pool. Worse, those expenses occur in usd, and btc has been down. The irony is if btc were up, we'd all receive more btc...
and it keeps dropping......
Why? I am sure there is a thread about it... Can someone point me to it pls... Or explain.
TY
September 28, 2014, 09:18:53 PM
Isnt that a bad return for the bonus hardware on the new PPS pool? 20% less? compared to the 10% loss in the "bonds" bought hardware.
It wouldnt be proportional, since operating expenses are covered through the bonus pool. Worse, those expenses occur in usd, and btc has been down. The irony is if btc were up, we'd all receive more btc...
and it keeps dropping......
September 28, 2014, 02:26:41 AM
Isnt that a bad return for the bonus hardware on the new PPS pool? 20% less? compared to the 10% loss in the "bonds" bought hardware.
It wouldnt be proportional, since operating expenses are covered through the bonus pool. Worse, those expenses occur in usd, and btc has been down. The irony is if btc were up, we'd all receive more btc...
September 27, 2014, 03:54:04 PM
Isnt that a bad return for the bonus hardware on the new PPS pool? 20% less? compared to the 10% loss in the "bonds" bought hardware.
September 27, 2014, 02:52:34 PM
Distributions paid:
Mined: BTC1.73092112
Per Contract: BTC0.00000970
Bonus: BTC4.75951255
Bonus Per contract: BTC0.00002668
Mined: BTC1.73092112
Per Contract: BTC0.00000970
Bonus: BTC4.75951255
Bonus Per contract: BTC0.00002668
September 26, 2014, 08:48:19 AM
All those who received miners from BFL though, you probably will make your money back.
You have a little bit of bitcoin history. I suspect they will become collectors items in a few years.
Actually I'm not kidding.
Cheers
Dave
(hmm. am thinking BBC's Antiques Roadshow in 30 years time... - ok - now I'm kidding).
You have a little bit of bitcoin history. I suspect they will become collectors items in a few years.
Actually I'm not kidding.
Cheers
Dave
(hmm. am thinking BBC's Antiques Roadshow in 30 years time... - ok - now I'm kidding).
Heh. I've actually wondered if some collector might eventually be interested in ShortBus...
grnbrg.
September 26, 2014, 04:00:09 AM
All those who received miners from BFL though, you probably will make your money back.
You have a little bit of bitcoin history. I suspect they will become collectors items in a few years.
Actually I'm not kidding.
Cheers
Dave
(hmm. am thinking BBC's Antiques Roadshow in 30 years time... - ok - now I'm kidding).
You have a little bit of bitcoin history. I suspect they will become collectors items in a few years.
Actually I'm not kidding.
Cheers
Dave
(hmm. am thinking BBC's Antiques Roadshow in 30 years time... - ok - now I'm kidding).
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