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Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 19. (Read 452170 times)

jr. member
Activity: 62
Merit: 1

I'll put something together, but to ease concerns with the BFL issue.  I have requested the refund and received an email stating that it's being processed.  Just a waiting game now and every penny of that is going into the new hardware purchase/setup.

The matter of when hardware will be delivered is up to which deal we move forward with.  I feel as though the MBP franchise program has much more promise than purchasing hardware outright as it works into us owning it outright rather quickly and allows all upfront costs to go toward buildout making the mine larger.

I'll answer the other questions when I have another moment regarding partially raised funds and financial situation.
Thank you
full member
Activity: 140
Merit: 100
Let me understand this correctly... Correct me please if i'm wrong:

You're selling 100mh contracts for 0.0045 when cex.io sells 1gh for 0.0037..

If it was just that, people will use 1/4 of a braincell to say no.

But it doesnt end there, in the process, you're going to dilute our dividends selling new contracts and dividing pool mined coins exactly the same with people who paid 3% of what we paid, the pool we helped build with our 25% and further 2 weeks and who knows what else you screw us over..

It seems you're a bit delusional to say the least, show us the numbers and we might trust you with our current investment, you started great, all out in the open, then all became too shady and information stopped flowing, so far im so deep in the loss with this investment.
sr. member
Activity: 473
Merit: 250
hero member
Activity: 599
Merit: 502
Token/ICO management
There is one way your gonna sell the 500BTC of bonds you want to and that is by explaining in detail the current financial, mining and legal situation of LRM.

How many coins are currently in the 'buy new hardware fund'?

What happens if you only sell 10BTC of contracts, 100BTC, 250BTC etc?

When will new hardware be delivered?

Have you received the refund from BFL yet? Is that money going towards new equipment? If not what is happening with it?



Come on Zach, we played ball and switched to the new contracts - take a deep breath and fully explain LRM's current situation and then we can all properly evaluate your offering and maybe we will finally see it for the good news that you said it was going to be.

I'll put something together, but to ease concerns with the BFL issue.  I have requested the refund and received an email stating that it's being processed.  Just a waiting game now and every penny of that is going into the new hardware purchase/setup.

The matter of when hardware will be delivered is up to which deal we move forward with.  I feel as though the MBP franchise program has much more promise than purchasing hardware outright as it works into us owning it outright rather quickly and allows all upfront costs to go toward buildout making the mine larger.

I'll answer the other questions when I have another moment regarding partially raised funds and financial situation.
sr. member
Activity: 473
Merit: 250
There is one way your gonna sell the 500BTC of bonds you want to and that is by explaining in detail the current financial, mining and legal situation of LRM.

How many coins are currently in the 'buy new hardware fund'?

What happens if you only sell 10BTC of contracts, 100BTC, 250BTC etc?

When will new hardware be delivered?

Have you received the refund from BFL yet? Is that money going towards new equipment? If not what is happening with it?



Come on Zach, we played ball and switched to the new contracts - take a deep breath and fully explain LRM's current situation and then we can all properly evaluate your offering and maybe we will finally see it for the good news that you said it was going to be.
hero member
Activity: 599
Merit: 502
Token/ICO management
So just to be clear, Zach. Your saying that instead of the original agreed upon amount of 25% for expenses you are actually taking closer to 50% and not using any of the extra acquired coins for buying more hardware?

Leaving LRM with out any way to buy new hardware with out issuing more bonds which nobody will buy due to the convoluted nature of the contract?

How many bitcoins worth of contracts have been sold since you posted your great news and launched your 'flashy' new website?

Actually none of that is correct.  The 23 coins that were estimated by a faulty calculator is far over actual mined coins and the coins that have been saved are all going into hardware.  The idea is to save up enough to get a good price discounted below retail.
sr. member
Activity: 473
Merit: 250
So just to be clear, Zach. Your saying that instead of the original agreed upon amount of 25% for expenses you are actually taking closer to 50% and not using any of the extra acquired coins for buying more hardware?

Leaving LRM with out any way to buy new hardware with out issuing more bonds which nobody will buy due to the convoluted nature of the contract?

How many bitcoins worth of contracts have been sold since you posted your great news and launched your 'flashy' new website?
member
Activity: 83
Merit: 10
According to retrocalc.net, the "contracted" plus "bonus" hardware, all of which was purchased by people who expected to get 75% of the bitcoins mined, earned approximately 22.5895 BTC.

Before Zach's switcheroo we would have split up 16.942125 among the bond holders. Compare that to the 9.44677759 he paid out. Future customers of LRM beware! Don't join the ranks of the swindled.
hero member
Activity: 599
Merit: 502
Token/ICO management
Distributions Paid

Mined: BTC2.84709269
Per Contract: BTC0.00001600
   
Bonus: BTC6.59968490
Bonus Per contract: BTC0.00003709
hero member
Activity: 599
Merit: 502
Token/ICO management
Had a personal issue yesterday.  Divs are going out right now.
hero member
Activity: 504
Merit: 500
So....no div this week ?

newbie
Activity: 25
Merit: 0
list first.

this week's div?
member
Activity: 83
Merit: 10
After his bait and switch with the 75/25 deal to the "you get what I give you" deal I will never buy from LRM again. I would advise all potential investors/customers to stay far, far away. There's no telling what his next switcheroo will be.
member
Activity: 77
Merit: 10
Let me just make one point here ...

No one is going to invest in shares/bonds that are not listed!

Get these listed, and then you have a chance.
+1
sr. member
Activity: 473
Merit: 250
How did 'I've got great news coming' turn into ' I have no money and am gonna try and sell more contracts to further dilute your already under performing contracts.'

One day you will realise honesty and transparency in business is a superior strategy.
hero member
Activity: 896
Merit: 500
Dolphins Finance TRUSTED FINANCE
Let me just make one point here ...

No one is going to invest in shares/bonds that are not listed!

Get these listed, and then you have a chance.
hero member
Activity: 729
Merit: 500
I really fail to see how this was good news. Someone explain please... 

It's good news for Lab Rat.  He gets $250,000 by reselling the hash we paid for.
member
Activity: 67
Merit: 10
I really fail to see how this was good news. Someone explain please... 
sr. member
Activity: 473
Merit: 250
What happens if you don't raise the 500BTC your hoping to? It does seem incredibly optimistic with out being listed on an exchange, the convoluted construction of the contracts and the bonus' and based on performance so far I doubt existing contract holders will be emptying their pockets to buy more.
jr. member
Activity: 62
Merit: 1
Thank you for the updates and the information.

daemonfox thank you for all your work in keeping the pricing info up to day, I do greatly appreciate it.

What hardware does LRM currently own?
What hardware is LRM planning on buying?
What is the EOL of the existing hardware as new hardware comes online?
What is the cost of the new shares?
  • (nevermind, answered on the new website http://www.labratmining.com/BuyContracts/purchaseContracts.php)
  • Based on what I paid (both in original purchases and LRM directly) these new contracts are 8 times cheaper than my average (yes I included the split x3 to be fair).  My average purchase was .037 and they are now .0045.  Currently my ROI is still under 14%.
  • Is there any additional benefits to being a current contract holder vs the new contract holder?
  • The website states a return per contract of .03251690 so far but based on what I have received it is 0.005258536 and I have had contracts from the beginning.

I am into LRM for a decent amount, the long term, and still want to see it grow. I would like to understand what is going on.

Sorry if some of this doesn't make sense/bad math, I've been up all night in our POPs updating equipment


I guess as we are hash contract holders and don't have a stake in the hardware it makes more sense to have better transparency on listed hash (equipment specs), current hash (what is actually being performed), and hash statistics.
It is just nice to know what is actually being used, it gives confidence to contract holders.
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