Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 211. (Read 452224 times)
October 14, 2013, 09:28:02 PM
Maybe we could do it buttonwood style on a IRC session?
October 14, 2013, 09:11:21 PM
You will be able to sell the shares. Not sure how or for how much but I am confident there will be a way!
Craigslist.
October 14, 2013, 09:08:16 PM
You will be able to sell the shares. Not sure how or for how much but I am confident there will be a way!
October 14, 2013, 09:05:38 PM
Once labrat freezes trading on bitfunder will it be possible to sell bonds p2p or using labrat as escrow? I've got 269 bonds and I don't want to be locked down in this evolving market..
October 14, 2013, 09:01:56 PM
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?
October 14, 2013, 08:30:45 PM
copy and pasted from the labrat profile on bitfunder
• No fees will be placed upon the dividends that are to be paid out to bondholders for electricity or hosting. 100% payout of the hashrate the bonds represent will be paid in full to the bondholders.
This clearly states that we are not to be charged additional fees on our dividends. Labrat you need to make this right.
It is not ok to blatantly breach the terms that you set out.
If as shareholders we simply let this slide then what is to prevent this becoming a regular thing whenever labrat feels like it he can just charge additional fees.
@labrat - you have through out this operation shown yourself to be a stand up guy, I don't wanna be the guy causing waves but I am not ok with the clearly laid out terms in the Labrat profile being blatantly disregarded because you had to do some additional work. Which incidentally was your choice - dividends could have been paid to everyone through bitfunder this week and indeed could also be done this way for the following two weeks. There is no need for manual payments right now.
I vote that dividends continue to be paid via bitfunder until the end of the month at which point your automated system should be operational and people will have had plenty of time to update their address'. There is no need to delay next weeks dividend payout.
• No fees will be placed upon the dividends that are to be paid out to bondholders for electricity or hosting. 100% payout of the hashrate the bonds represent will be paid in full to the bondholders.
This clearly states that we are not to be charged additional fees on our dividends. Labrat you need to make this right.
It is not ok to blatantly breach the terms that you set out.
If as shareholders we simply let this slide then what is to prevent this becoming a regular thing whenever labrat feels like it he can just charge additional fees.
@labrat - you have through out this operation shown yourself to be a stand up guy, I don't wanna be the guy causing waves but I am not ok with the clearly laid out terms in the Labrat profile being blatantly disregarded because you had to do some additional work. Which incidentally was your choice - dividends could have been paid to everyone through bitfunder this week and indeed could also be done this way for the following two weeks. There is no need for manual payments right now.
I vote that dividends continue to be paid via bitfunder until the end of the month at which point your automated system should be operational and people will have had plenty of time to update their address'. There is no need to delay next weeks dividend payout.
Even though I disagree with the fee being taken from dividends to pay for a few hours of admin work. The excerpt you pasted above technically wouldn't be enough to make a case, because the fee he charged was not for electricity or hosting. The fee he charged was for him to do a bit more work than usual to transmit to people their dividends. However, the second half of that statement may be useful to make a case. Because an ad hoc fee was deducted which resulted in the case that 100% of dividends were not paid out.
The value of the fee is nothing really - maybe a cup of cafe bought coffee - but the principle is important. Not to say LR is being dishonest, but it at least has the appearance for some of bordering on a truth/trust issue.
"Anyone who doesn't take truth seriously in small matters cannot be trusted in large ones either." - Einstein
October 14, 2013, 01:58:52 PM
copy and pasted from the labrat profile on bitfunder
• No fees will be placed upon the dividends that are to be paid out to bondholders for electricity or hosting. 100% payout of the hashrate the bonds represent will be paid in full to the bondholders.
This clearly states that we are not to be charged additional fees on our dividends. Labrat you need to make this right.
It is not ok to blatantly breach the terms that you set out.
If as shareholders we simply let this slide then what is to prevent this becoming a regular thing whenever labrat feels like it he can just charge additional fees.
@labrat - you have through out this operation shown yourself to be a stand up guy, I don't wanna be the guy causing waves but I am not ok with the clearly laid out terms in the Labrat profile being blatantly disregarded because you had to do some additional work. Which incidentally was your choice - dividends could have been paid to everyone through bitfunder this week and indeed could also be done this way for the following two weeks. There is no need for manual payments right now.
I vote that dividends continue to be paid via bitfunder until the end of the month at which point your automated system should be operational and people will have had plenty of time to update their address'. There is no need to delay next weeks dividend payout.
• No fees will be placed upon the dividends that are to be paid out to bondholders for electricity or hosting. 100% payout of the hashrate the bonds represent will be paid in full to the bondholders.
This clearly states that we are not to be charged additional fees on our dividends. Labrat you need to make this right.
It is not ok to blatantly breach the terms that you set out.
If as shareholders we simply let this slide then what is to prevent this becoming a regular thing whenever labrat feels like it he can just charge additional fees.
@labrat - you have through out this operation shown yourself to be a stand up guy, I don't wanna be the guy causing waves but I am not ok with the clearly laid out terms in the Labrat profile being blatantly disregarded because you had to do some additional work. Which incidentally was your choice - dividends could have been paid to everyone through bitfunder this week and indeed could also be done this way for the following two weeks. There is no need for manual payments right now.
I vote that dividends continue to be paid via bitfunder until the end of the month at which point your automated system should be operational and people will have had plenty of time to update their address'. There is no need to delay next weeks dividend payout.
October 14, 2013, 12:48:40 PM
How to sign a message using blockchain.info:
- Log into blockchain.info
- Click on receive money
- click on the actions button to the right of the address your using for labrat
- click on sign message
- enter email body as detailed in the post/s above
- click sign message
- copy "signature" output
Close "Sign Message" window
Using the message and signature, you can create a new email which you can send to labrat - this process proves that you have control of the BTC address.
How to VERIFY your message:
- Log into blockchain.info
- Click on receive money
- Click on "More Actions" (bottom right - below the Balance)
- Verify Message
- Enter details
- Click Verify - you should get a green "Message Successfully Verified" notice
Close "Verify Message" window
- Log out of blockchain.info if you are finished
- Log into blockchain.info
- Click on receive money
- click on the actions button to the right of the address your using for labrat
- click on sign message
- enter email body as detailed in the post/s above
- click sign message
- copy "signature" output
Close "Sign Message" window
Using the message and signature, you can create a new email which you can send to labrat - this process proves that you have control of the BTC address.
How to VERIFY your message:
- Log into blockchain.info
- Click on receive money
- Click on "More Actions" (bottom right - below the Balance)
- Verify Message
- Enter details
- Click Verify - you should get a green "Message Successfully Verified" notice
Close "Verify Message" window
- Log out of blockchain.info if you are finished
October 14, 2013, 12:21:14 PM
Email Sent
@Lab_Rat may comment otherwise, but I'd hold off emailing until the 22nd. If your holdings change between now you'll have to resend, and it will confuse the issue....grnbrg.
My holdings personally won't change so I'm good
October 14, 2013, 12:17:35 PM
crap, i just sent the email. your right G! our holdings could change, well i guess if it does, well just have to put that in the subject line..
I dont intend on selling, so im probably okay, but mine is sent...
I dont intend on selling, so im probably okay, but mine is sent...
October 14, 2013, 12:15:38 PM
Email Sent
@Lab_Rat may comment otherwise, but I'd hold off emailing until the 22nd. If your holdings change between now you'll have to resend, and it will confuse the issue....grnbrg.
October 14, 2013, 12:04:36 PM
yes i got that thanks, just need to try it now
October 14, 2013, 12:03:08 PM
The private key is what enables you to spend the BTC associated with the address.
http://bitcoin.stackexchange.com/questions/7536/how-do-i-export-my-private-keys-from-my-bitcoin-qt-client
http://www.blockrun.com/faq/how_to_sign
And a sample signed message that I posted yesterday:
------------------
Test message. Ignore the dashes above and below when you copy and paste this to verify.
If you can verify this, you've probably figured out enough to sign messages with your own keys.
------------------
Signed with: 1grnbrg3Ea4t6bxHvQKRvorbBeLNDXv2N
Signature: HKT07NvQ31Mz3mpMUD+38RSnEPa0/HyrE0zx8qse5THhq3SDrsBHVLt+UogA1bsxqwy+MhYkRy1Uc+ph+627bXI=
grnbrg.
http://bitcoin.stackexchange.com/questions/7536/how-do-i-export-my-private-keys-from-my-bitcoin-qt-client
http://www.blockrun.com/faq/how_to_sign
And a sample signed message that I posted yesterday:
------------------
Test message. Ignore the dashes above and below when you copy and paste this to verify.
If you can verify this, you've probably figured out enough to sign messages with your own keys.
------------------
Signed with: 1grnbrg3Ea4t6bxHvQKRvorbBeLNDXv2N
Signature: HKT07NvQ31Mz3mpMUD+38RSnEPa0/HyrE0zx8qse5THhq3SDrsBHVLt+UogA1bsxqwy+MhYkRy1Uc+ph+627bXI=
grnbrg.
October 14, 2013, 11:55:41 AM
i dont know about everyone else but i need a `how to` on this signing thing, anyone
October 14, 2013, 11:36:16 AM
Email Sent
October 14, 2013, 11:27:39 AM
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.
October 14, 2013, 02:06:58 AM
As another question, I don't know where I am supposed to receive this manual dividend. If lab rat has an asset list, I don't believe that I have given bitfunder a personal bitcoin address. How does he know where to send funds? Is he sending funds to my bitfunder account address so it will show up in my bitfunder account?
Make sure to register a valid Bitcoin address with BitFunder. It must be one you control, i.e. own the private key and can sign a message. Your dividens might just have been blackholed this week. If Bitfunder goes down for good (in case it happened) your shares will also be blackholed if you don't control the address.
Edit: Only if you are in control of the address on the asset list you will be able to proof that you are the legitimate owner.
October 14, 2013, 12:04:33 AM
If it cuts my dividends- do it thru BitFunder.
Or create script.
Or i dont care until someone takes my money and says: "I have made mistake - pay for it to me".
Its your problem, you got paid for by 25% of bitcoins.
Or create script.
Or i dont care until someone takes my money and says: "I have made mistake - pay for it to me".
Its your problem, you got paid for by 25% of bitcoins.
October 13, 2013, 10:12:15 PM
I think the reasons have been well expressed (both calmly not-so-calmly) in the thread so far. I'll just say I agree that the fee was unreasonable. You really ought to reimburse it.
And going forward, the bitcoin network fee really ought to be paid out of your own pocket (correction: out of the 25% you keep each week). Once automated, you really should be using sendmany and therefore should not have to pay 0.0005 per person, but rather just pay fees on a handful of multi-person transactions.
Finally, can you please be crystal clear on your plans for the asset and bitfunder? Are you going to delist it? I need to know if I have to go through the verification process prior to November 1st just to continue to hold my shares?
And going forward, the bitcoin network fee really ought to be paid out of your own pocket (correction: out of the 25% you keep each week). Once automated, you really should be using sendmany and therefore should not have to pay 0.0005 per person, but rather just pay fees on a handful of multi-person transactions.
Finally, can you please be crystal clear on your plans for the asset and bitfunder? Are you going to delist it? I need to know if I have to go through the verification process prior to November 1st just to continue to hold my shares?
October 13, 2013, 10:00:54 PM
+1
Lab_rat,
As hostile as Jake sounds, I'm inclined to agree with him. You're already taking out a 25% fee for hosting/maintenance. Manually paying out a little under 300 addresses shouldn't be terribly difficult, and can be done in a matter of hours. Even though it's only a few bitcoins in total, it's the principle that matters. Whether it is only a few, or a few hundred coins, investors don't deserve that.
-Mufa
Lab_rat,
As hostile as Jake sounds, I'm inclined to agree with him. You're already taking out a 25% fee for hosting/maintenance. Manually paying out a little under 300 addresses shouldn't be terribly difficult, and can be done in a matter of hours. Even though it's only a few bitcoins in total, it's the principle that matters. Whether it is only a few, or a few hundred coins, investors don't deserve that.
-Mufa
Thank you Mufa. I will admit I was a little angry when I wrote that but I will stand up for the meat of the message. It is the numbers that kill me.
1) If he is going to pay someone with 20 bonds he is essentially stealing ~60% of their weekly dividend. Screw that!
2) If there are 300 addresses to pay he is literally charging us $1050 for his time. Even if he wasn't already charging us a fee for running the rigs there is no way that job is worth $1k.
As another question, I don't know where I am supposed to receive this manual dividend. If lab rat has an asset list, I don't believe that I have given bitfunder a personal bitcoin address. How does he know where to send funds? Is he sending funds to my bitfunder account address so it will show up in my bitfunder account?
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