Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 233.

mmmerlin

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Quote from: ipxtreme on September 23, 2013, 01:59:39 PM

thanks LR. Can you put this update on your main page. It took me a hour to find any news or updates to LRM just to stumble upon this critical one.

Thanks

Always worth checking here first! Wink

But yes, this should definitely be put on the main website, and the fact that (I believe) the motion has now passed as well.

Some sort of announcement also should be made on BitFunder, as this needs to be public knowledge for prospective buyers as it will affect people's decisions considerably...

ipxtreme

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mmmerlin

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Activity: 266

Merit: 250

Quote from: BKM on September 23, 2013, 12:24:39 PM

Quote from: SimonBelmond on September 23, 2013, 11:11:51 AM

Quote from: bigasic on September 23, 2013, 10:10:56 AM

Wow, btct shutting down? I wonder if the SEC got after them? this is going to bring everyone to bitfunder. not sure if thats a good thing or a bad thing.. But, I do think that will bring more light to LRM and people will see the value and im confident that it will continue to be a popular bond...

Im in for whats ever best for LRM short term, especially long term..

Just another reason to support Open-Transactions. Please give some of your dividends to OT so We can have a truly decentralized exchange and smart contracting system. We will not have to worry about such shutdowns any longer or at least not as much.

OT is being formalized as Monetas. Fellowtraveler is part of the Monetas founder team and they are making serious progress. www.monetas.net

Btct shutting down is serious. Fortunately, Zach purposefully structured LRM to be within the regulatory climate for private companies. This is definitely not the case for others in the marketplace who have floated offerings of millions of shares. It will be very interesting to see what happens with Bitfunder in the coming weeks. That said LRM is also positioned to work without bitfunder. Can you say "distributed peer to peer blockchain based corporate entities" three times fast?

BTC-TC shutting down is indeed very serious. Was there a particular action taken that made them do it, or was it just the general regulatory climate/atmosphere?

BKM

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Quote from: SimonBelmond on September 23, 2013, 11:11:51 AM

Quote from: bigasic on September 23, 2013, 10:10:56 AM

Wow, btct shutting down? I wonder if the SEC got after them? this is going to bring everyone to bitfunder. not sure if thats a good thing or a bad thing.. But, I do think that will bring more light to LRM and people will see the value and im confident that it will continue to be a popular bond...

Im in for whats ever best for LRM short term, especially long term..

Just another reason to support Open-Transactions. Please give some of your dividends to OT so We can have a truly decentralized exchange and smart contracting system. We will not have to worry about such shutdowns any longer or at least not as much.

OT is being formalized as Monetas. Fellowtraveler is part of the Monetas founder team and they are making serious progress. www.monetas.net

Btct shutting down is serious. Fortunately, Zach purposefully structured LRM to be within the regulatory climate for private companies. This is definitely not the case for others in the marketplace who have floated offerings of millions of shares. It will be very interesting to see what happens with Bitfunder in the coming weeks. That said LRM is also positioned to work without bitfunder. Can you say "distributed peer to peer blockchain based corporate entities" three times fast?

mmmerlin

sr. member

Activity: 266

Merit: 250

Quote from: rustyh17 on September 23, 2013, 11:24:09 AM

After speaking with LRM, I believe the hash rate increase we'll experience by donating 2 weeks of dividends
to LRM will more than offset any difficulty increase over that same period of time. It will also set LRM up for
the next hardware acquisition phase(s) occurring over the next 180 days.

A lot more, and otherwise we wouldn't be doing it! But yes, I think this is now settled and is going ahead.

mmmerlin

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Activity: 266

Merit: 250

Quote from: bigasic on September 23, 2013, 10:10:56 AM

Wow, btct shutting down? I wonder if the SEC got after them? this is going to bring everyone to bitfunder. not sure if thats a good thing or a bad thing.. But, I do think that will bring more light to LRM and people will see the value and im confident that it will continue to be a popular bond...

Im in for whats ever best for LRM short term, especially long term..

But they had that super-robust disclaimer about it all being just a game on their front page... And you had to like, click accept and everything, I thought that was water-tight! Wink

rustyh17

full member

Activity: 213

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After speaking with LRM, I believe the hash rate increase we'll experience by donating 2 weeks of dividends
to LRM will more than offset any difficulty increase over that same period of time. It will also set LRM up for
the next hardware acquisition phase(s) occurring over the next 180 days.

mmmerlin

sr. member

Activity: 266

Merit: 250

Quote from: ksenter on September 23, 2013, 11:05:45 AM

Quote from: Lab_Rat on September 22, 2013, 09:33:13 PM

To clear anything up. I would be paying out Dividends with the hardware in hand and holding the payout from the new hardware coming in for 2 weeks. It seems as though a couple individuals didn't quite understand. It appears the general consensus is to do so.

One of the main reasons for doing this I can't share as of yet because it's not my news to share. People would just have to know it's for the greater good of the company and would help out a ton in the long run.

Would this just be for the upcoming bit fury orders, or are you saying from this point forward whenever you get new hardware you'll mine with it for 2 weeks to get btc for future purchases before beginning to pay dividends on it?

This decision/vote was just for the upcoming BitFury orders, but it may or may not be good to repeat the exercise in the future, it all depends on the situation.

I think each bridge will be crossed when we come to it, but essentially everyone has the long term success of LRM as their goal, so it should be relatively easy to see the way forward in future.

SimonBelmond

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Quote from: bigasic on September 23, 2013, 10:10:56 AM

Wow, btct shutting down? I wonder if the SEC got after them? this is going to bring everyone to bitfunder. not sure if thats a good thing or a bad thing.. But, I do think that will bring more light to LRM and people will see the value and im confident that it will continue to be a popular bond...

Im in for whats ever best for LRM short term, especially long term..

Just another reason to support Open-Transactions. Please give some of your dividends to OT so We can have a truly decentralized exchange and smart contracting system. We will not have to worry about such shutdowns any longer or at least not as much.

ksenter

member

Activity: 90

Merit: 10

Quote from: Lab_Rat on September 22, 2013, 09:33:13 PM

To clear anything up. I would be paying out Dividends with the hardware in hand and holding the payout from the new hardware coming in for 2 weeks. It seems as though a couple individuals didn't quite understand. It appears the general consensus is to do so.

One of the main reasons for doing this I can't share as of yet because it's not my news to share. People would just have to know it's for the greater good of the company and would help out a ton in the long run.

Would this just be for the upcoming bit fury orders, or are you saying from this point forward whenever you get new hardware you'll mine with it for 2 weeks to get btc for future purchases before beginning to pay dividends on it?

mmmerlin

sr. member

Activity: 266

Merit: 250

Quote from: Bargraphics on September 23, 2013, 10:00:56 AM

As a large shareholder I agree with the two week dividends going to improve the company

I have just got off the phone with LR, and I think all of the biggest holders have now voted and that this is going ahead.

Good things are coming...

bigasic

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Activity: 924

Merit: 1000

Wow, btct shutting down? I wonder if the SEC got after them? this is going to bring everyone to bitfunder. not sure if thats a good thing or a bad thing.. But, I do think that will bring more light to LRM and people will see the value and im confident that it will continue to be a popular bond...

Im in for whats ever best for LRM short term, especially long term..

Ashitank

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Activity: 560

Merit: 500

I agree too for 2 weeks of dividends produce from new mining equipment be used for future funding / fees e.t.c

Bargraphics

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Activity: 518

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Every man is guilty of all the good he did not do.

As a large shareholder I agree with the two week dividends going to improve the company

mmmerlin

sr. member

Activity: 266

Merit: 250

Quote from: Ashitank on September 23, 2013, 07:55:44 AM

BTCT is shutting down , wake up

In my defence though, I'm currently working 115 hour weeks finishing my PhD thesis at the moment, and also trying to keep an eye on the bitcoin world, which is almost a fulltime job in itself!

Why are they shutting down? Did they realise their front-page disclaimer isn't as bullet-proof as they'd like? Is it SEC related?!

EDIT: OK, I read their page and I have clearly been under a rock. Whilst they don't say what, if any, action is being taken against them, the reason for the shut-down is the regulatory environment :/

mmmerlin

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Activity: 266

Merit: 250

Quote from: Ashitank on September 23, 2013, 07:55:44 AM

BTCT is shutting down , wake up

OK

Ashitank

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BTCT is shutting down , wake up

mmmerlin

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Activity: 266

Merit: 250

Quote from: Ashitank on September 23, 2013, 07:33:33 AM

Off topic but thank god LRM is listed on bitfunder Lips sealed

Why?

EDIT: Is this ironic becuase BTC-TC allows for automated voting on motions?

Ashitank

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Off topic but thank god LRM is listed on bitfunder Lips sealed

ICantThinkOfaName

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Activity: 146

Merit: 100

I have ~350 shares. I say spend two weeks dividends on hardware.

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