Guys come on!
The Hashrate skyrocketing won't be this way all the time.
Whenever a major ASIC Player releases their batch of units the Hashrate will jump, then when it does it will level off as they finish sending out the units, until the next one does it or they release another batch.
We probably won't see TOO much of a change from this difficulty to the next.
Also as we get to a higher difficulty it becomes that much harder to maintain that percentage of raise in difficulty.
KnC just released >0.5PH on the network within two weeks.
We don't have to worry about KnC releasing a ton more like that until November (and Hashfast will be releasing theirs as well then)
We might see a huge jump when they release but that's still 1 or 2 difficulty jumps away and we will be mining the whole time.
Everyone is expecting ~8PH on the network by the end of the year, that means difficulty will be somewhere around 960 Million. But you better be mining now when it is low (like Lab_Rat is doing).
Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 210. (Read 452224 times)
October 15, 2013, 02:45:28 PM
October 15, 2013, 02:37:38 PM
well, it seems people are starting to lose faith in LR, why else would they sell for such a low amount.. I hope we will have the last laugh...lets hope... 
I think if he can keep it mostly on track and bitcoin value does not decline, then there should be at least a consistent flat return (measured in fiat) for the next year. I'm betting it can generate about $0.80 in value of bitcoins per bond per month. And then the trick is sustainability. If LR's not investing in hardware wisely, then you can be pretty sure you will see a decay in dividends & bond value. My concern has always been the 25% re-investment plan (which isn't near 25% when you take out costs and fee's). That doesn't seem like enough. This is why when new hardware is received he will probably need to make it normal to commit the first two weeks of mining solely for re-investment funds.
I agree, now more than ever, we need to get as much equipment as possible. Before, I was on the fence about reinvesting the dividends, but since the difficulty is skyrocketing and I dont see how else we will sustain it, reinvesting the dividends is a must I think now, more than ever..
October 15, 2013, 02:35:12 PM
well, it seems people are starting to lose faith in LR, why else would they sell for such a low amount.. I hope we will have the last laugh...lets hope...
I think if he can keep it mostly on track and bitcoin value does not decline, then there should be at least a consistent flat return (measured in fiat) for the next year. I'm betting it can generate about $0.80 in value of bitcoins per bond per month. And then the trick is sustainability. If LR's not investing in hardware wisely, then you can be pretty sure you will see a decay in dividends & bond value. My concern has always been the 25% re-investment plan (which isn't near 25% when you take out costs and fee's). That doesn't seem like enough. This is why when new hardware is received he will probably need to make it normal to commit the first two weeks of mining solely for re-investment funds.
October 15, 2013, 02:35:01 PM
well, it seems people are starting to lose faith in LR, why else would they sell for such a low amount.. I hope we will have the last laugh...lets hope...
Yeah it does seem that way. Anyone tracking whether it's one or two big fish or a lot of small bond holders? I wish bitfunder would open up buying to the US accounts just long enough for me to snag some of these fire sale bonds. Ah well, probably better this way, the whole thing could collapse for all I know.
Exactly one person selling a lot.
Thanks! Their loss, hopefully...
October 15, 2013, 02:25:26 PM
well, it seems people are starting to lose faith in LR, why else would they sell for such a low amount.. I hope we will have the last laugh...lets hope...
Yeah it does seem that way. Anyone tracking whether it's one or two big fish or a lot of small bond holders? I wish bitfunder would open up buying to the US accounts just long enough for me to snag some of these fire sale bonds. Ah well, probably better this way, the whole thing could collapse for all I know.
Exactly one person selling a lot.
October 15, 2013, 02:23:11 PM
well, it seems people are starting to lose faith in LR, why else would they sell for such a low amount.. I hope we will have the last laugh...lets hope...
Yeah it does seem that way. Anyone tracking whether it's one or two big fish or a lot of small bond holders? I wish bitfunder would open up buying to the US accounts just long enough for me to snag some of these fire sale bonds. Ah well, probably better this way, the whole thing could collapse for all I know.
October 15, 2013, 02:20:48 PM
well, it seems people are starting to lose faith in LR, why else would they sell for such a low amount.. I hope we will have the last laugh...lets hope...
I guess it was more or less just 1 or 2 guys with a decent ammount of shares. If someone is bored enought he can get through older share lists and see who may sold his shares. October 15, 2013, 02:16:21 PM
well, it seems people are starting to lose faith in LR, why else would they sell for such a low amount.. I hope we will have the last laugh...lets hope...
October 15, 2013, 12:48:03 PM
I strongly believe that freezing the asset at this point is a very bad decision. Freezing would have been good before the panic to give everyone time to think it over and get the information needed to make a decision. However, now the panic is over, people had two days to think about it. If someone wants to sell, they will, freezing just makes life much harder for everyone and creates additional uncertainty.
I think that the best strategy at this point is to let the dust settle and find out how we proceed. If you still think that you want to freeze the asset, I think that it would be a good idea to set the exact time when you want to do it and give at least a one day notice. Just to make things clear and predictable.
+1 , Even i think freezing asset doesnt make sense , unless Lab rat has some more info & reasons behind this move other than to stop panic selling.
Right. Panic selling is over. After the initial panic there was only one person liquidating all his ~1k shares and causing all the sudden price drops in the last 24 hours. But he just sold off his last shares. So I expect the price to recover soon, cheap shares are most likely over
No, it's not.
2013-10-15 11:55:51 SELL ฿0.03000000 100 ฿3.00000000
2013-10-15 11:55:20 SELL ฿0.02270598 1 ฿0.02270598
2013-10-15 11:55:20 SELL ฿0.02200000 50 ฿1.10000000
That was cheap shares.
That wave of panic was over at that time. I did not say that panic will never occur again in human history :-)
October 15, 2013, 12:18:00 PM
Dont get it why 1 or 2 persons panic that much and throw away their money 
Edit: go panic i want more cheaper shares
Edit: go panic i want more cheaper shares
October 15, 2013, 12:12:16 PM
I strongly believe that freezing the asset at this point is a very bad decision. Freezing would have been good before the panic to give everyone time to think it over and get the information needed to make a decision. However, now the panic is over, people had two days to think about it. If someone wants to sell, they will, freezing just makes life much harder for everyone and creates additional uncertainty.
I think that the best strategy at this point is to let the dust settle and find out how we proceed. If you still think that you want to freeze the asset, I think that it would be a good idea to set the exact time when you want to do it and give at least a one day notice. Just to make things clear and predictable.
+1 , Even i think freezing asset doesnt make sense , unless Lab rat has some more info & reasons behind this move other than to stop panic selling.
Right. Panic selling is over. After the initial panic there was only one person liquidating all his ~1k shares and causing all the sudden price drops in the last 24 hours. But he just sold off his last shares. So I expect the price to recover soon, cheap shares are most likely over
No, it's not.
2013-10-15 11:55:51 SELL ฿0.03000000 100 ฿3.00000000
2013-10-15 11:55:20 SELL ฿0.02270598 1 ฿0.02270598
2013-10-15 11:55:20 SELL ฿0.02200000 50 ฿1.10000000
That was cheap shares.
October 15, 2013, 11:35:36 AM
There are 5188 asset holders on Bitfunder's asset list. That's a lot of people affected by Bitfunder's new policy. And overall, they could benefit from an independently operated software application that replaces Bitfunder's functions.
Just a tip for any of you application programmers out there You could even charge something like a tiny 0.25% fee for each trade done over the software application. But it probably wouldn't be a trivial project.
Just a tip for any of you application programmers out there
You could even charge something like a tiny 0.25% fee for each trade done over the software application. But it probably wouldn't be a trivial project. October 15, 2013, 07:52:51 AM
Maybe we could do it buttonwood style on a IRC session?
It's not looking good. Maybe, LR would do well to ask for help from Bitfunder on the back-end software, and install it at his site. Pay for it if necessary (from the 25% pool of course).
Im sure there will be a way. I have seen a similar bond company advertise that they will be selling/trading on their own site... Its not that difficult to set up. Also, there are still a few other options, havlock or whatever, is still an option.. I agree, I got into this with idea to be able to sell shares, so there has to be a way..
check out how nastyfans does it, they do trading on their own site.
1) share owner lists how much they are willing to sell a share for, how many, and your bitcoin address.
2) buyer chooses to buy your seats, is given the seller's bitcoin address and how many bitcoin to send. The shares are "on hold" for a certain amount of time so two people don't end up buying the same shares.
3) the site checks the blockchain for that transaction. After 6 confirmations, the site moves the shares from one account to the other.
upside: the site doesn't hold any bitcoins, so no risk of theft or shadiness.
downside: only asks are listed, no bids -- there's a constant downward pressure on price
Another thing nastyfans does that could be good to emulate: dividends are paid out once a week in one transaction with minimal transaction fees, essentially shared by everyone. Charging every account .0005 for transaction fees is ridiculous when you can make a single transaction with fees a few times bigger than that.
Example:
https://blockchain.info/tx/7c4d0999406c28ca71f67bd6c6b0d73ba75f43a565513b5d54ffe0ce480c7cb1
total fees for 20,000 "shares" and smaller dividends than LRM: 0.0035 BTC. I don't see how .0005 per account per week is at all reasonable when others are doing 0.00000014 per share per week (for a similar number of shares as LRM).
October 15, 2013, 02:37:27 AM
More importantly how much hashing power are the bonds currently worth and when will they hit the magic 100/MHs as promised in the IPO?
My current calculation is 5250000 mh /55207 bonds = 95 mh/bond so we are still short 5 mhs!
Lab_Rat, Any news on the next delivery?
My current calculation is 5250000 mh /55207 bonds = 95 mh/bond so we are still short 5 mhs!
Lab_Rat, Any news on the next delivery?
Good question , We need to keep-up with difficulty , getting more Mh/s or Gh/s per share when difficulty has become 3x of current difficulty will mean we will still earn near about same dividends as we are today with current Mh/s per share.
October 14, 2013, 10:48:49 PM
Maybe we could do it buttonwood style on a IRC session?
It's not looking good. Maybe, LR would do well to ask for help from Bitfunder on the back-end software, and install it at his site. Pay for it if necessary (from the 25% pool of course).
Im sure there will be a way. I have seen a similar bond company advertise that they will be selling/trading on their own site... Its not that difficult to set up. Also, there are still a few other options, havlock or whatever, is still an option.. I agree, I got into this with idea to be able to sell shares, so there has to be a way..
Yeah, my gut assessment might be unwarranted. It's obviously technically doable. I'm just ignorant on what options are actually out there. And it doesn't seem like something that is a simple plug-in for a website... with the need to not only track shares, but manage bitcoin transfer (a kind of escrow between traders)... so, it seems it would require some kind of online fund management. That can carry some concerns of liability from the website owner, and Labrat is liability adverse (this seems why he has a lawyer and runs things the way he does).
But something will need to be done. I got into this because of the fact I would be able to sell my shares, If I can't, that opens up a whole new can of worms. Thats why i think he'll have something figured out. If there wasn't a way to sell or the value cant go up (meaning, im just holding bonds for the dividends) I would have never invested...So, Im sure he'll have something figure out...
October 14, 2013, 10:19:58 PM
Maybe we could do it buttonwood style on a IRC session?
It's not looking good. Maybe, LR would do well to ask for help from Bitfunder on the back-end software, and install it at his site. Pay for it if necessary (from the 25% pool of course).
Im sure there will be a way. I have seen a similar bond company advertise that they will be selling/trading on their own site... Its not that difficult to set up. Also, there are still a few other options, havlock or whatever, is still an option.. I agree, I got into this with idea to be able to sell shares, so there has to be a way..
Yeah, my gut assessment might be unwarranted. It's obviously technically doable. I'm just ignorant on what options are actually out there. And it doesn't seem like something that is a simple plug-in for a website... with the need to not only track shares, but manage bitcoin transfer (a kind of escrow between traders)... so, it seems it would require some kind of online fund management. That can carry some concerns of liability from the website owner, and Labrat is liability adverse (this seems why he has a lawyer and runs things the way he does).
October 14, 2013, 10:10:56 PM
Thinking about recommending purchase of a couple of shares to friends outside of the US but things aren't looking to good to be honest. I hope you get something figured out for those people that have continued to stick in there with you Lab. Best of luck.
*Will keep watching in case things start to improve soon.
*Will keep watching in case things start to improve soon.
October 14, 2013, 09:44:27 PM
Maybe we could do it buttonwood style on a IRC session?
It's not looking good. Maybe, LR would do well to ask for help from Bitfunder on the back-end software, and install it at his site. Pay for it if necessary (from the 25% pool of course).
Im sure there will be a way. I have seen a similar bond company advertise that they will be selling/trading on their own site... Its not that difficult to set up. Also, there are still a few other options, havlock or whatever, is still an option.. I agree, I got into this with idea to be able to sell shares, so there has to be a way..
October 14, 2013, 09:38:08 PM
Maybe we could do it buttonwood style on a IRC session?
It's not looking good. Maybe, LR would do well to ask for help from Bitfunder on the back-end software, and install it at his site. Pay for it if necessary (from the 25% pool of course).
EDIT: I didn't mean your idea wasn't looking good. I mean it looks like it's going to be a bit compplicated to resolve. Unless there is another similar site as Bitfunder available. Would you explain how the buttonwood styles works? I'm familiar with buttonwood being associated with Wall Street... but not sure on what you mean by buttonwood style.
October 14, 2013, 09:30:29 PM
Due to issues with people not having THEIR OWN bitcoin addresses on BitFunder, I will be postponing this weeks dividends in an attempt to help give people more time to get their address situated.
This means the dividends due to go out Oct. 19th and Oct. 26th will BOTH go out on Oct. 26th.
Tuesday, Oct. 22nd, I will be freezing LRM on BitFunder and taking the final asset list. At this time I am requesting that all individuals send a signed message in the format detailed below between Tuesday, Oct. 22nd Noon and Thursday, Oct. 24th 11:59 PM Eastern Standard Time.
If you fail to send a signed message via email to [email protected] by the end of the time specified, your dividends will be rolled over to the following week.
Thursday, Oct. 31st will be the cut off for the week following.
If you do not verify ownership of your bonds via this method by Thursday, Nov. 7th, your bonds and accrued dividends will be absorbed by LRM.
I am giving everyone plenty of warning, so make sure your address on BitFunder is one of your own.
Format for signed message must be as follows:
EMail Title:
BTC address (must be the address on the bitfunder asset list which is the same one you signed the message with)
EMail Body:
Bonds: # owned
Name: (Name on BitCoinTalk or BFL Forums, not your real name)
BTC Address: (Preferred address, may keep the same or change)
Message Signature: xxxxxxxxxxxxxxxxxxxxxxxx
The information in the body should be copy pasted from the signed message to your email, no leading or following spaces other than to separate the message signature from the message. No additional information necessary.
This means the dividends due to go out Oct. 19th and Oct. 26th will BOTH go out on Oct. 26th.
Tuesday, Oct. 22nd, I will be freezing LRM on BitFunder and taking the final asset list. At this time I am requesting that all individuals send a signed message in the format detailed below between Tuesday, Oct. 22nd Noon and Thursday, Oct. 24th 11:59 PM Eastern Standard Time.
If you fail to send a signed message via email to [email protected] by the end of the time specified, your dividends will be rolled over to the following week.
Thursday, Oct. 31st will be the cut off for the week following.
If you do not verify ownership of your bonds via this method by Thursday, Nov. 7th, your bonds and accrued dividends will be absorbed by LRM.
I am giving everyone plenty of warning, so make sure your address on BitFunder is one of your own.
Format for signed message must be as follows:
EMail Title:
BTC address (must be the address on the bitfunder asset list which is the same one you signed the message with)
EMail Body:
Bonds: # owned
Name: (Name on BitCoinTalk or BFL Forums, not your real name)
BTC Address: (Preferred address, may keep the same or change)
Message Signature: xxxxxxxxxxxxxxxxxxxxxxxx
The information in the body should be copy pasted from the signed message to your email, no leading or following spaces other than to separate the message signature from the message. No additional information necessary.
Note: Not everyone has an account on bitcointalk of BFL forums. So, this may end up hurting people that only read the forums, but have participated in LRM. There are a lot of lurkers out there reading the forums.
Since this would be emailed to you, I'd guess that the persons email could satisfy as good as a forum name.
Just trying to help.
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