Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 183. (Read 452224 times)

LabRat need to clarify this :


So...
On November 09, LRM has 12-13TH/s up (and we don't even know when this hardware was received...).
Normally Tuesday another 17 TH was added.

If all plans is on track today LRM must be ~ 30TH/s

But the "14 days" period (two weeks ? no anyone ? ^^ ) don't officially begins.

My question is pretty simple :

- The next dividends will include the actual hashing power ?

Because for me, the "14 days period" don't start and if you don't include the current hashing power for the futur dividends we aren't talking anymore about "14 days" but a lot more...this change a lot...

Don't worry...LabRat heard you all... 

It would be good if we had better updates, maybe grnbrg could step up and provide some if Labrat it too busy setting up miners etc.  Even a small tweet like just got x miners or Im so busy is hurts.  We did get some updates on the 9th and 12th Nov. https://twitter.com/LRM_News

Same here.  There are things I like about LRM and things I don't like.  I'm not running off to any regulator crying about it.  I do appreciate that this thread is full of people who are in the same boat, and that we can talk about it.

I realize Lab_Rat is probably in over his head and not doing everything perfectly.  But he's human and no human I know is perfect.  I do wish there was more transparency, that we had an automated exchange to trade on, and a few other things.  But I do not think Lab_Rat is out to scam anyone.

I'm not running anywhere.  Just venting some frustration with the way things stand.

I made a free decision to invest. I face up to the consequences of my actions without running off crying to the police/government/regulator. In a free economy trust is very important. Lesson learned.

"destroying confidence in the security" is a really apt description stemming from his lack of information.  I'd say the share price is primarily where it's at because of this.  

All we really know right now is we get dividends right now that slide every week, and that they will go up again...eventually.

hmm, maybe i am too soft, fair points.

It is the wild west, we have to regulate ourselves. LR has shown to be bad at business. There are other offerings which are run better. LR got his money, but will find it difficult to raise more in the future.

I don't think he's a scammer, I think he's someone that is annoyed that the people who bought the hardware for his mining hobby are demanding accountability. He doesn't have to tell us anything, we already donated our BTC to his company in exchange for nothing.

It's obvious he has little knowledge of economics or financial markets, he doesn't even know the damage he's doing.

We've enabled this mess, it is our fault for not demanding more accountability from the start. We bought him equipment, pay for his electricity, and pay him a fee. He does the work and collects money. What was his financial buy in? What was his risk? Does him destroying confidence in the security financially affect him at all? What is his fee? Why did we give money without knowing these answers?


EDIT: You know we paid him $200,000 (before the recent run-up, his fee now is > $500k if he held on to BTC) to set up this up ON TOP of the hardware he bought. What the **** happened to that money? "Trust him" is a horrible response - don't work on trust, believe the data. Seriously, this is approaching criminal level. We bought in to a managed group buy. Where did the money go?

hmm. you know this whole forum is kinda like that, a bit like the wild west.

That would be the true if it wasn't for his blase and unapologetic attitude to these issues.

a bit harsh maybe. this kind of business is very difficult to manage i have some idea of what hes going through, just mangaged 3 terahashes of equipment recently had only a quarter running and it was hard, especially with a day job. besides this type of investment is a longer term thing really. hoping that the share price will go up. i believe LRM is doing the best he can, beside hes paid divs so far albeit a bit precarious recently, but hes not running off.

Labrat has shown himself to be unreliable. Bending the rules regarding investor benefits. I intend to hang on to my shares since I only made a small investment which has in turn dropped in value.

As far as I'm concerned, LabRat is a scammer. He isn't paying out the dividends being produced by the new hardware, and he also charged an arbitary transaction fee refered to in the previous post.

I wouldn't invest a single satoshi in anything else he does. I don't care how amazing the business is, or how profitable it is. If LabRat just helps himself to funds as and when he feels like it investors will not get any return.

I dont agree with that one bit ,  I did not invest money in LRM so Lab_rat could buy hardware with our monies & do what ever he likes to do  , sorry but this logic is ridiculous , instead please donate money to charity ...... , I am confident Lab_rat understands every one invested into LRM is for dividends & returns & this is top priority for LRM , I remember paying 0.025BTC as transaction fees is still quite fresh in my memory & that didn't go down quite well did it , so doing what he just likes to do is not the way to go.

While I agree with you, it's sadly not really up to us.  LR is going to do what he's going to do.

Here's my take on this.  The above was posted on November 9th.  Lab_Rat said he thought the remaining shipment(s) would be in this week, but can't guarantee it.

Let's assume that it does arrive and Lab_Rat gets it set up and hashing by Saturday, November 16.  So then the 14 days starts.  We won't start earning anything from this until November 30th.  We likely won't see dividend increase until December 7.

from The Great Proposition at http://www.labratmining.com/index.html

It really doesn't seem fair that we have to wait until all of the equipment is received before we receive any benefit.  Some of it has likely been set up and hashing for weeks now.  We should start receiving dividends from new equipment 2 weeks after it is put online and starts hashing.  Just because it is not all in doesn't mean we should have to wait longer for dividends from the equipment that is already in.

Question is about the mining dividends which are earned with new hardware before 14 days of official mining starts , I am confident Lab_rat will clarify this for us all soon.

Even if the 14 period has already started LR has said we won't get any dividends from the new hardware until the 14 days are up.

It has not been made clear whether mining revenue from new gear will be paid as dividends this Staurday or LRM has already started the 14 days mining period.

I don't want to trash talk Butter-bot. I'll simply state that the profit calculations it is touting
on its website is not BTC profit, but USD profit. In other words, it does not actively compare
what a buy and hold BTC strategy would produce given the same set of back test conditions.
It simply shows you the fiat profit based on a set of EMA conditions you pick.

At the very least it could be very useful as a fail safe stop loss while you sleep. It is also nice
to use for seeing where the ema's are currently located for any one of the 3 different exchanges
it actively tracks. Great to see if a huge dip takes place and the likelihood of a fast retracement.

I think it is a nice tool, but it isn't going to be a magic trading tool for you since a buy and hold
strategy right now is king. Perhaps when the market enters into a sideways oscillation, it would
probably do great over buy and hold.

Anyway, I bought it and have a 1 year subscription. I am glad to do any type of back testing you
want to try out or whatever. Pablo also offers a free demo period if you want to play with it your-
self.

This is just my opinion. I may be looking at it all wrong. Maybe it is really should be called the
"Best Thing Since Sliced Bread And Butter-Bot"!

Thanks, Rusty