Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 182. (Read 452285 times)

Thanks.

From there. Rule #6 reads [with my bold emphasis]: "6.  Buyer sends BTC to the escrow address.  Once the coins are received in escrow, the manual trading fee of 0.5% or 0.025BTC, whichever is greater, will be deducted from the escrow address."

Just to put this in perspective. BTC0.025 = $10 ... That seems a fair deal for the labor to verify a transaction.

Why would LR et.al. charge more for larger buy/sell transactions? We should be of one mind on this, and working together more - especially for those that actually funded the company. Isn't that profiteering in the face other's difficulty? With this fee structure, LR et.al. would have no great incentive to find an automated & free solution. I apologize if this sounds trivial, but the principle matters. Plus, I saw some hefty transactions on the asks on there (e.g. [email protected]). If that got filled, LR or whoever would be paid  equivalent of $200 to do for that person no more than was done for another at a cost of $10. Just saying - principle matters. Unless, the escrow person see's it as a risk on his part to handle that amount of bitcoin.

Regarding escrow. It might be late in the game to comment on this (not sure if suggestions were taken), but instead of doing escrow, why not just use the blockchain to verify the transaction between the two parties (buyer and seller)? That would cut out a step, and reduce the risk of the escrow handler sending the wrong amount or sending to the wrong address. All liability would rest on the buyer & seller. All you would have to do is verify a message & the blockchain, then update the ledger/list if those pass verification.

WTF! 50% indeed  I'm not sure where the best return % is, but think it should be a little higher than it is.  I do find it an interesting question though and would love to hear from those with a greater understanding of the issue.  I suppose any individual could do a personal version of this by simply reinvesting more.

I agree with you re LR.  He's definitely not a scammer in the slightest.  He's quite the opposite and I too look forward very much to some updates just as much as everyone else, but in the meantime I'm content to wait without worry.  I just don't understand why people assume the worst when there is little info.  We have all the basic facts and know what LR is up to -- why are people getting so wound up over not hearing from him?  They will, and it will be good news.  BTW, this is not a hobby for me either; I really need things to work out

That's the question... what is the point of optimal efficiency in terms of reinvestment?  Too little and we have a mining box that slowly loses capacity as difficulty moves ahead of it, too much and we never get anything back.  I don't have a good answer, and I don't think anyone could show a good answer mathematically either (due to the unknowns).  We have to make best guesses based on the information we have, which isn't much to go on.

Sorry, this doesn't amount to much of an explanation. 

I do know that once LR points the miners at us, and we get our 75% of the new hashing rate, the attitudes will change around here pretty fast.  Almost there... Almost there...  Maybe then we can reconsider increasing reinvestment, or maybe it's already optimal with the 2-weeks of dedicated mining up front.

There's a whole thread for it.....

https://bitcointalksearch.org/topic/official-labrat-mining-lrm-share-trading-thread-320578



grnbrg.

Is there a list of people wanting to buy/sell yet?

where are we on the laffer curve? (i.e., what is the theoretical justification of 50% versus 25%?) I'd be for it if LR can mathematically argue it. But he doesn't have to argue it, he can either follow through with what he promised investors (25%) or just say screw it and do whatever he wants anyways. There is no accounting, he can re-appropriate whatever he wants where ever and just keep on not telling us.

We all are asking serious & honest questions here so no FUD is being spread. Please read through post above many of the investors have doubts which needs answering. Also some posters get carried away , Lab_rat is not a scam but lack of clarity & info from Lab_rat is root cause of all the un-rest here, If I was investing in LRM as Hobby of earning BTC then I would not have bothered but that's not the case.

No dis-respect but WTF! 50%  I hope you have read the post which shows how much of initial IPO price has been paid back to investors in dividends.

This has already been talked about in the early days.  The expansion plan involves Labrat selling more bonds, he has only sold half of the amount planned so far.  I don't think investors taking a dividend haircut would go down too well

Smells like a lot of FUD unnecessarily brewing!

My thoughts are that LR is obviously busy as hell or he'd have more time to spend here with the cranky mob so take that as a good sign!  Didn't he say he had a bunch of hardware arriving?  I can imagine that takes a ton of time to set up and tweak. 

I'd actually like to see, once our dividends return to normal after any 2-week periods, a great increase in the amount of BTC we reinvest.  I think a percentage of the 25% deduction is not enough at this stage, and we need to get a leg up as soon as possible despite the increase in BTC value.

Might I suggest 50%?

LR can take the same as he does now for management, so that wouldn't change, but we could crank up the hardware buying power by quite a lot.

Things are changing fast in the mining world, and there may be a tipping point at which we cannot keep up - I don't know if it's 25%, 50% or even more, but I'd rather stay ahead than not.

Thoughts?

If we do this we could hit over 50% of the network and would have won Bitcoin.  I think you can rename bitcoin if you get over 51% of the network, we could change its name to lab-coin.

And one more question:
We saw on some moment LRM actual hash power.
Now we dont see anything.
As investor, i would like to see hash power as its not so difficult to do.
Also is LRM mining in pool with merged mining? Namecoins can be sold and invested in new hardware.

I have a great idea! Thank me later. LR should keep withholding dividends to pay for new hardware until the end of 2014...maybe even 2015. Think of how much hashing power your bonds will be representing. By that time, you will realize the genius of it, and refuse dividends in lieu of more hardware. It's tough being a mastermind sometimes...again, thank me later.   

I have to agree.  My understanding was also that each machine would have a 2 week period. Otherwise an order of 20 machines that comes in batches of 2 per week could drag on for 10+2 weeks... That is just insane. In essence this could drag on forever... It seems that all our possible profits are just being reinvested into labrat's company. In the end I fear only labrat will benefit from all this since we, the investors who actually paid for everything, effectively have no ownership of the company.

Edit: Could someone please explain to me why I'm wrong. I really want to be wrong about this.

This makes me think Labrat is also paying into the new hardware and is not getting a management fee. If that's the case I'm sure he would not want to drag out "2 weeks" forever. I also think it should be 2 weeks from plug in and hashing. If its mining at spec, its 2 weeks has started. When the next box is plugged in and running, it starts its 2 weeks. Is that work? Yes, it takes work to run a company. But that gives him the 2 weeks that he said he would take, and it gives the bond holders access to the new equipment hash rate in the time they were to expect. Seems kinda stupid to vote and agree on something and then just do whatever.

Was thinking the same thing.

Everything on that site is seriously out of date and needs a overhaul.  He might even be better off just taking it down until it can be corrected or pay someone to fix it, I'm sure if he paid someone a btc or two it could be updated in a day.

if Labrat mining is currently at 30th then the weekly income of BTC will be aprox ~200

So the management fee is currently 200* 0.25 =  50 BTC or aprox 20,000 USD a week

Damn I wish I was on the management team...

I have to agree with you, at least in one sense, that the understanding was that each hardware would be committed to 2 weeks of hashing for buying new hardware. And not contingent upon a whole bunch of other hardware. So, in that sense, if that is LR's intention, it is different than what he communicated or at least what I understood from the communication. It's evidence perhaps that LR's re-investment strategy (a fraction of the 25% deduction) was not sustainable.  The only bright side to this is that it should lead to higher hash rates - whether it will have disproportionately surpassed difficulty to be worth it is another question. However, the bitcoin price is helping a lot though. By nearly tripling in price since most bought into LRM, it means the 25% re-investment is equivalent to 75% re-investment compared to the original investment climate (keeping in mind that hardware costs track fiat/dollars, not bitcoins) - anyone correct me on that if it is a faulty analysis.

Scratch that - the List link on the LRM site is wrong. Goes to an old spreadsheet. Might want to update that.

One update, at least...

A notice and reminder that anyone who has not yet validated their Bitfunder public address with Lab_Rat has until Saturday morning to do so.  As of Saturday, any past unpaid dividends owed to unverified accounts will be paid out to verified addresses.  Going forward, dividends will be paid out evenly only to verified addresses.  As previously stated, unverified bonds will be claimable for at least the next 6 months, but dividends will not be accrued until claimed.

I'm trying to get a statement on the hashrate and hardware deliveries.  I'll post it when I get it.



grnbrg.