Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 229. (Read 452224 times)

It's not exactly clear to me either, but my understanding is that there is the 16-18TH order that is suppose to be received by mid-October. From that hardware, two weeks of the initial mining dividends are fully kept by LRM for new hardware. That is, it's with those funds, that the very next order is placed near/around the beginning of November (this seems to be the 'followed close behind' order of 6-10TH that Labrat is speaking about). That would be a final total ranging from 22TH(minimum) to 28TH(maximum). I'm not sure if that includes the in-hand ~4.35TH or Dave's contribution, so if not, it can be an upper maximum of 33.15TH. It's hard to guess with the bit of secrecy about it. The only other hardware on order is the undisclosed quantity of Monarchs. I could be wrong, but this is how it is coming off to me.

For those that were criticizing me on this topic before, this is why I said that the plan on diverting of dividends will not necessarily place LRM in a position more favorable than was already describe on the LRM website. That is, the estimate was already that 30TH based on bond sales from some time ago.




It's my hope that when he says followed close behind, he is referring to some order of hardware to be made well before the purchase he plans to make with the two weeks of dividends diverted from the hardware expected to be received mid-October.

Hmm.

Share price steadily dropping.  People who thought they were going to make a quick buck selling off?

Nice buying opportunity for the long term investors through.   

Dave

 

Thats how i understand it... if we are giving up our dividends, it makes perfect sense that new equipment will be added. but I really dont know, i wish Zach would give us a little more detail on whats coming, etc...

News post

"The current hashrate the company has in hand is ~4.35TH with 800GH being added by Dave of BitFury. This totals to ~5.15TH currently mining with an estimated 16-18TH incoming within the next couple weeks. This order of 16-18TH will be followed close behind with another 6-10TH."

If I add up all the hashing power sticking with the highest estimate I get 32TH (not including Dave's rate as this is temporary).

Would this total amount be hashing sometime in November all going well?

Will the 2 week BTC fund then add on top of this rate?  Will the BFL order also be on top ?

dooferorg has set up a shoutbox at https://cryptobox.pw/

It's fully custom (he wrote it from scratch) and he's adding new features constantly. 

As BFL trails off, I'm hoping some of the regulars from there head over.  Maybe a forum as well one of these days??

I've suggested that Lab put a link to it so he can avoid the hassle of running a shoutbox on site.

Would be great to see you there!

No problem. I also thought it was averaging 70% a month not too long ago. I think it was because I was thinking about difficulty going up about every two weeks. However, about every ten days is more accurate.

Sorry, my mistake.

Lab rat should add a forum on the labratmining.com site..  There are a lot of good, free ones..

Also, $180 would probably be the "real" price corresponding to a MtGox price of $200

(expect the gap to widen in $, i.e. maintain a fixed ratio between MtGox and other exchanges as prices rise, as the exchange differential is an expression of perceived risk in MtGox and therefore a scale-factor not an absolute difference).

Anywho - this is going wildly off topic...

The price pattern has a few traits that I like.

If you look over the one year chart, you see a giant dip from end of May to late August. It wasn't as gradual a decline to the bottom as I would like, but it's not terrible. Also, the rising side of the dip is more bowl-like..which is good, imo. Then another pattern following this giant dip that is a relatively mild pullback and is now forming a tightening ascending triangle. Combined, it's reminiscent of a "cup and handle" pattern. Which is probably one of the more coveted price patterns to find in charting.

I think a significant price drop is the least likely outcome, and that there is a near toss-up between staying relatively flat and inclining over the next month. But with a slight bias to an inclining price... especially with the triangular pattern in the "handle" of the "cup".

Cup and Handle pattern. See here: http://www.investopedia.com/university/charts/charts3.asp



Ascending triangle pattern. See here: http://www.investopedia.com/university/charts/charts5.asp



Compare to Bitcoin from end of May to present for Cup and Handle. And note that the handle (in September) is developing into an ascending triangle:



From that, you can see why breaking above $148 to $150 would be quite bullish. Note the cluster of resistance from early April around the price of $180. At least three days there show a strong reaction to $180 as either a high, low, opening or closing price. There are probably plenty of people that bought at those prices that will want out if prices reach there again (i.e. anticipate selling pressure there). Keep that in mind. Now, note the leg from the bottom, mid July(~$65), to the recent peak(~$148). That is about an $80 range. Legs seem to tend to repeat in size and duration in a steady bull market. If that same leg were to happen again from the developing base(~$137), or recent low(~$120) since the peak, it would run bitcoin up to $200 to $220 on Mt.Gox. However, that cluster of resistance around $180 seems quite strong, and $180 isn't toooo far from $200. So, $180 seems like another place to develop some sideways movement, maybe there, another ascending wedge [EDIT: triangle, not wedge] will develop. In either case, it might be a good time to trade out of bitcoins (if trading), and wait to see how the market develops.

Not sarcastic at all, but mainly thanking you for taking the time to answer. I would need to hear and see more before deciding whether it had merit, and I don't have the time to engage, but appreciated the answer nonetheless. You showed me an analysis of yours before and I quite liked it, but again didn't have the chance to engage.

Either way, it's all academic for me as all my funds are already tied up across a variety of things. I was just interested to hear as it would obviously be good for me if BTC went up!

Haha. I don't know if you were being sarcastic or not It's so subjective. Or just thanking me for taking the time to answer.

Of course, this idea is no guarantee in my thinking. That would be foolish. It's subjective. But if I were an active bitcoin trader, I'd be quite interested at this point to either be accumulating or readying to buy at a higher level (e.g. breaking over $148-$150). But if accumulating, also ready to sell off (stop loss) if it went below ~$130 on Mt.Gox.

Thanks!

I have an automated bitcoin trading bot that does  quite well, and it only does about 70 trades a year, well, It just triggered a buy last night (It could hold on to this buy for weeks)... so, maybe your theory is correct on your bitcoin price analysis.. I hope so, anyways....

The surge is based on price activity/patterns. The $180 is based on MtGox values. It's pretty subjective, that's why I said it's not worth much.

It's mostly based on having watched prior price activities unfold in the past on all kinds of securities (a long time interest I've had). It's subjective, but based on historical observations. I'll feel more comfortable once it breaks $145 again, and especially $148-$150 on MtGox.

Well, the main point to consider with respect to production, is that CoinTerra will have good working relationships with the fab, good experience of product development cycles, won't have belligerent PR managers, and will generally not sit around with the thumbs up their asses insulting people when in fact, people in glass houses should just be building some fucking miners and not throwing stones!

But as I said, many pennies is still pennies, costs are not relevant. But prices won't drop crazy fast because of the electricity factor. They need to milk as much money out of miners as they can before the units become unprofitable to buy and run. Look at it this way: you couldn't even give GPUs away these days (for mining), they have negative value on the market. Soon that will be the case for most ASICs, so they need to maximise their income before that is the case, so don't expect rock-bottom prices too soon...

Yeah, BFL was probably not so optimal. I was just roughing it in the same line of thought as you, just looking at what a more accurate comparison of BFL singles produces might be. That is, only in terms production - it was nothing to do with costs.

How so?

Firstly, it's really not relevant as the actual chip cost is pennies. Pennies times a factor of quite a lot is still nothing when you're selling the product for thousands of dollars!

But also, the scaling breaks down because the designs are going to be very different (i.e. BFL's was pretty shitty, hence, despite what they claim, not actually achieving much better performance than the Avalon chips in terms of energy (and even speed per transistor I think, though I should check that...)) - I imagine CoinTerra's offering will be close to optimal, and BFL's was, well let's just say, not.

Also, just look at the die size for these calculations, the process node isn't so relevant.

For whatever it's worth - which is not much - exchange price for bitcoin looks (to me) ready to surge up over the next few weeks. $180 is quite doable.