Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 241.

||bit

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Quote from: bittymitty on September 18, 2013, 12:37:36 AM

Can you clarify "The 400-700 range is for the first order or so from BitFury... There will be a lot more almost immediately after that."

So are you saying that the mh/bond will be higher than 700 after the Bitfury delivery?

I don't think he wants to promise anything too high or specific. His philosophy on it seems to be, as he implied, it's better to end up having over-delivered than under-delivered.
Safer that way in this community, from what I've seen.

bittymitty

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Keep em coming

Lab_Rat

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Quote from: bittymitty on September 18, 2013, 12:37:36 AM

Can you clarify "The 400-700 range is for the first order or so from BitFury... There will be a lot more almost immediately after that."

So are you saying that the mh/bond will be higher than 700 after the Bitfury delivery?

What that means is that there will be subsequent orders.

bittymitty

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Can you clarify "The 400-700 range is for the first order or so from BitFury... There will be a lot more almost immediately after that."

So are you saying that the mh/bond will be higher than 700 after the Bitfury delivery?

Lab_Rat

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Quote from: ||bit on September 17, 2013, 10:14:13 PM

Labrat modified his per bond hashrate estimate to:
"The current estimate for the hashrate per bond to be paid out is in the range of 400-700MH/s per bond based on current bond sales (after all hardware is received.)"

source: http://www.labratmining.com/currentHashrate.html

I thought the prior estimated outlook was 600MH/s (or 600+MH/s).

In contrast, this part remained the same:
"The current estimate for the company's total hash-rate once all hardware is secured is likely to be over 30TH based on current bond sales. (Updated: 09/16/2013)"

Should this be interpreted as a downgraded outlook? Anyone have thoughts on this?

Not downgraded. I just have a better guess now as things are getting closer and it's better not to over-promise under-deliver correct? The 400-700 range is for the first order or so from BitFury... There will be a lot more almost immediately after that.

PS Live dynamically updated stats from the pool found here: http://www.labratmining.com/currentHashrate.php

I spoke with Dave Monday and everything was better than expected. Should have some more solidified dates that I will be able to pass on to you guys (and gals) soon.

Should have some good news tomorrow and some even better news within 2 weeks (Not a BFL pun)

||bit

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Labrat modified his per bond hashrate estimate to:
"The current estimate for the hashrate per bond to be paid out is in the range of 400-700MH/s per bond based on current bond sales (after all hardware is received.)"

source: http://www.labratmining.com/currentHashrate.html

I thought the prior estimated outlook was 600MH/s (or 600+MH/s).

In contrast, this part remained the same:
"The current estimate for the company's total hash-rate once all hardware is secured is likely to be over 30TH based on current bond sales. (Updated: 09/16/2013)"

Should this be interpreted as a downgraded outlook? Anyone have thoughts on this?

||bit

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Quote from: bigasic on September 17, 2013, 09:37:25 PM

In regards to your last line. I've actually thought about that. As long as im not losing too much money, it may be easier to mine them at a small loss because most of us here believe that the btc will go up dramatically in the next 10 years. So, if it costs me 200 bucks in electricity to get 150 dollars in bitcoins (in todays market) may be a solution. Now, If I didn't have faith the btc will go up, then that idea would be stupid. Its an easy way to get bitcoins, even if your paying more than market price at the time.

Also, the btc could and probably still will make a dramatic drop and then recover, its done that since the beginning. I remember when I was mining at a loss when bitcoins were only going for about 2 bucks a piece. I kept mining, It actually paid off quite well after a few months.. I guess its what your risk tolerance is.

This mining thing is quite the experience.....

Yeah, that's why I'm feeling out of the game myself. If I were into it, I'd rather buy early on pre-order hardware and try selling it off for 50% markup or something like that. It seems like there would be less headaches involved.

bigasic

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In regards to your last line. I've actually thought about that. As long as im not losing too much money, it may be easier to mine them at a small loss because most of us here believe that the btc will go up dramatically in the next 10 years. So, if it costs me 200 bucks in electricity to get 150 dollars in bitcoins (in todays market) may be a solution. Now, If I didn't have faith the btc will go up, then that idea would be stupid. Its an easy way to get bitcoins, even if your paying more than market price at the time.

Also, the btc could and probably still will make a dramatic drop and then recover, its done that since the beginning. I remember when I was mining at a loss when bitcoins were only going for about 2 bucks a piece. I kept mining, It actually paid off quite well after a few months.. I guess its what your risk tolerance is.

This mining thing is quite the experience.....

||bit

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Quote from: bigasic on September 17, 2013, 07:42:26 PM

Quote from: ||bit on September 17, 2013, 07:26:18 PM

Quote from: M31 on September 17, 2013, 05:44:32 PM

My guess would be that Lab_Rat doesn't want to specifically say he's hooking up say, another 3TH or whatever today, then disappoint due to a technical glitch. No news is fine with me, as I know that when the LR does speak, it's important and positive.

I'm pretty happy with it flying low right now, as I doubt I'd have much chance to buy cheap shares once he's running at >600MH/s/share or even 300 for that matter.

Also, if Lab_Rat gets into details here, he'll have everyone pick apart his every word, and end up wasting a lot of time and stress for no gain. Best to run silent, run deep, and just get the job done I reckon.

Too many details would be a hassle, so, I can understand that. But some more transparency on plans might be helpful. That may still come though. For example: the plan to beat difficutly is, imo, the most important. True that 600MH/bond is six times better than 100MH, but in what context? What does that mean if difficulty is six times higher when you achieve 600MH?

LRM is still in the start up phase as far as I'm concerned, but the basic plans for the long haul would be helpful to know. I'm not sure on whether 25% re-investment is sufficient to match difficulty.

YEa, right now the difficulty is crazy. it will only get worse and probably never get better. But, I do think it will slow down. Right now is when most of the asics are delivering or starting to deliver, hence the 20-30 percent diff each time. So your right, It would be probably smart to invest more than 25 percent for now, then slow down when the difficulty isnt going crazy high, (if it ever stops lol)

Right now, demand is high for hardware. As difficulty goes up, demand will tend to slow. More than likely, hardware manufacturers will lower the costs. Some kind of demand/supply equilibrium will be gravitated towards. I kinda imagine part of it all heading to something like this: How much are PC's selling for now? You can pretty easily buy one with a decent CPU for $1000. Mining hardware is simpler than any PC. The driving cost will be the chips. ASIC mfg's will have surely (I think anyway) recovered all development costs at a certain point soon, and if the demand is low enough, prices should plummet, I'd think... BUT... there is probably an equilibrium point where mfg's can't reduce the cost any more, and electricity costs can't justify buying more mining hardware. The only obvious factor left that to would upset that equilibrium point would be bitcoin value or new technology (but that is further out)... unless there are people that won't mind mining to the point of no return (literally) as a kind of pseudo-exchange where their fiat (i.e. the cost of electricity) is essentially "buying" bitcoins. Or maybe for those that might have free or extremely cheap electricity.

bigasic

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Quote from: ||bit on September 17, 2013, 07:26:18 PM

Quote from: M31 on September 17, 2013, 05:44:32 PM

My guess would be that Lab_Rat doesn't want to specifically say he's hooking up say, another 3TH or whatever today, then disappoint due to a technical glitch. No news is fine with me, as I know that when the LR does speak, it's important and positive.

I'm pretty happy with it flying low right now, as I doubt I'd have much chance to buy cheap shares once he's running at >600MH/s/share or even 300 for that matter.

Also, if Lab_Rat gets into details here, he'll have everyone pick apart his every word, and end up wasting a lot of time and stress for no gain. Best to run silent, run deep, and just get the job done I reckon.

Too many details would be a hassle, so, I can understand that. But some more transparency on plans might be helpful. That may still come though. For example: the plan to beat difficutly is, imo, the most important. True that 600MH/bond is six times better than 100MH, but in what context? What does that mean if difficulty is six times higher when you achieve 600MH?

LRM is still in the start up phase as far as I'm concerned, but the basic plans for the long haul would be helpful to know. I'm not sure on whether 25% re-investment is sufficient to match difficulty.

YEa, right now the difficulty is crazy. it will only get worse and probably never get better. But, I do think it will slow down. Right now is when most of the asics are delivering or starting to deliver, hence the 20-30 percent diff each time. So your right, It would be probably smart to invest more than 25 percent for now, then slow down when the difficulty isnt going crazy high, (if it ever stops lol)

mmmerlin

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Quote from: ||bit on September 17, 2013, 07:26:18 PM

Quote from: M31 on September 17, 2013, 05:44:32 PM

My guess would be that Lab_Rat doesn't want to specifically say he's hooking up say, another 3TH or whatever today, then disappoint due to a technical glitch. No news is fine with me, as I know that when the LR does speak, it's important and positive.

I'm pretty happy with it flying low right now, as I doubt I'd have much chance to buy cheap shares once he's running at >600MH/s/share or even 300 for that matter.

Also, if Lab_Rat gets into details here, he'll have everyone pick apart his every word, and end up wasting a lot of time and stress for no gain. Best to run silent, run deep, and just get the job done I reckon.

Too many details would be a hassle, so, I can understand that. But some more transparency on plans might be helpful. That may still come though. For example: the plan to beat difficutly is, imo, the most important. True that 600MH/bond is six times better than 100MH, but in what context? What does that mean if difficulty is six times higher when you achieve 600MH?

LRM is still in the start up phase as far as I'm concerned, but the basic plans for the long haul would be helpful to know. I'm not sure on whether 25% re-investment is sufficient to match difficulty.

It's a complex question with complex answers. However, there are a lot of not-stupid people with a vested interest in getting that right, or as right as can be with incomplete information. The difficulty is that there are also a lot of stupid people who think they know how to play it, and sorting the wheat from the chaff wrt who to listen to is non-trivial in itself... Tongue

(This is not aimed at anyone - just a general comment about both the bitcoin community and more generally, the world)

||bit

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Quote from: M31 on September 17, 2013, 05:44:32 PM

My guess would be that Lab_Rat doesn't want to specifically say he's hooking up say, another 3TH or whatever today, then disappoint due to a technical glitch. No news is fine with me, as I know that when the LR does speak, it's important and positive.

I'm pretty happy with it flying low right now, as I doubt I'd have much chance to buy cheap shares once he's running at >600MH/s/share or even 300 for that matter.

Also, if Lab_Rat gets into details here, he'll have everyone pick apart his every word, and end up wasting a lot of time and stress for no gain. Best to run silent, run deep, and just get the job done I reckon.

Too many details would be a hassle, so, I can understand that. But some more transparency on plans might be helpful. That may still come though. For example: the plan to beat difficutly is, imo, the most important. True that 600MH/bond is six times better than 100MH, but in what context? What does that mean if difficulty is six times higher when you achieve 600MH?

LRM is still in the start up phase as far as I'm concerned, but the basic plans for the long haul would be helpful to know. I'm not sure on whether 25% re-investment is sufficient to match difficulty.

M31

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My guess would be that Lab_Rat doesn't want to specifically say he's hooking up say, another 3TH or whatever today, then disappoint due to a technical glitch. No news is fine with me, as I know that when the LR does speak, it's important and positive.

I'm pretty happy with it flying low right now, as I doubt I'd have much chance to buy cheap shares once he's running at >600MH/s/share or even 300 for that matter.

Also, if Lab_Rat gets into details here, he'll have everyone pick apart his every word, and end up wasting a lot of time and stress for no gain. Best to run silent, run deep, and just get the job done I reckon.

||bit

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Quote from: bigasic on September 17, 2013, 04:38:40 PM

Yea, im excited as to what the news is...I believe its going to be pretty good. whatever the news is, I bet it makes the bond price go up....

Seems that no news or insight into actual money use is where a lot of the instability or price decay comes from. Might be why some people are apparently selling out instead of holding... unless they were original buyers just looking to make a quick buck, but met with disappointment that it didn't pop or soar as they'd hoped by now.

bigasic

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Yea, im excited as to what the news is...I believe its going to be pretty good. whatever the news is, I bet it makes the bond price go up....

fractal02

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Quote from: Lab_Rat on September 16, 2013, 09:16:53 AM

I have a lot of news on the way, hopefully some today, but some news is going to have to wait a little while to release.

yeah some news would be great... Wink

bittymitty

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Yes it would be good to get a complete run down of what is left to be delivered of ordered/paid for equipment and the expected date. Then maybe a forward projection of equipment that is going to be ordered with left over/new funds over the next few months.

||bit

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Quote from: mmmerlin on September 16, 2013, 03:22:17 PM

Quote from: ||bit on September 16, 2013, 03:07:50 PM

Quote from: Bargraphics on September 16, 2013, 09:19:37 AM

Quote from: Lab_Rat on September 16, 2013, 09:16:53 AM

Quote from: Ashitank on September 16, 2013, 02:15:22 AM

I think price will be low till each share hashing power goes beyond atleast 100+ Mh/S as there are some other bonds/shares that are cheaper than LRM & provide more Mh/s per share compared to LRM, but LRM has great potential once each bond starts to go beyond 200 Mh/S per share..

The only issue is that it looks like were going to go from ~75MH/s per share straight up to at least 300+... I hope everyone is ok with that?

I have a lot of news on the way, hopefully some today, but some news is going to have to wait a little while to release.

is your estimated 300+ from a partial shipment of bitfury or are you still receiving other ASIC hardware?

I have the same question.

I suspect that you are asking the wrong question. My guess is that the 300MH/s/bond will be from a full delivery of BitFury hardware, and that the remaining hashrate/bond will come from other manufacturers, so the question should probably be "what other hardware is coming after BitFury?"

I also think his post strongly implies that little/no hardware will be arriving in the meatime (other than the temp hashrate from Dave). But this could be all wrong.

The only 28nm hardware Labrat has on order, that I know of, are the Monarchs. I thought the bulk of the 30+TH of hardware to be ordered was going to be Bitfury.
Hopefully, we aren't waiting on just Butterfly Labs to deliver the remaining hardware after whenever the nice bump to 300+MH happens.

Labrat said he has some news on the way - sounds interesting. Maybe that will answer those questions.

bittymitty

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Quote from: Lab_Rat on September 16, 2013, 09:16:53 AM

Quote from: Ashitank on September 16, 2013, 02:15:22 AM

I think price will be low till each share hashing power goes beyond atleast 100+ Mh/S as there are some other bonds/shares that are cheaper than LRM & provide more Mh/s per share compared to LRM, but LRM has great potential once each bond starts to go beyond 200 Mh/S per share..

The only issue is that it looks like were going to go from ~75MH/s per share straight up to at least 300+... I hope everyone is ok with that?

I have a lot of news on the way, hopefully some today, but some news is going to have to wait a little while to release.

Good news for the 300+MH/s jump, we need this asap as the difficulty is rising quick.

mmmerlin

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Quote from: ||bit on September 16, 2013, 03:07:50 PM

Quote from: Bargraphics on September 16, 2013, 09:19:37 AM

Quote from: Lab_Rat on September 16, 2013, 09:16:53 AM

Quote from: Ashitank on September 16, 2013, 02:15:22 AM

I think price will be low till each share hashing power goes beyond atleast 100+ Mh/S as there are some other bonds/shares that are cheaper than LRM & provide more Mh/s per share compared to LRM, but LRM has great potential once each bond starts to go beyond 200 Mh/S per share..

The only issue is that it looks like were going to go from ~75MH/s per share straight up to at least 300+... I hope everyone is ok with that?

I have a lot of news on the way, hopefully some today, but some news is going to have to wait a little while to release.

is your estimated 300+ from a partial shipment of bitfury or are you still receiving other ASIC hardware?

I have the same question.

I suspect that you are asking the wrong question. My guess is that the 300MH/s/bond will be from a full delivery of BitFury hardware, and that the remaining hashrate/bond will come from other manufacturers, so the question should probably be "what other hardware is coming after BitFury?"

I also think his post strongly implies that little/no hardware will be arriving in the meatime (other than the temp hashrate from Dave). But this could be all wrong.

Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 241. (Read 452180 times)