Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 262. (Read 452170 times)

Eclipse is registering 74/95GH I'm pointing toward it, so until I get that worked out I'm mining privately. It's in as a backup, but I don't appreciate a paycut... Not sure if EMC does that to everyone and therefore it works out in the long run or if it's an issue with how it's reading LRM's shares. Didn't have time to look at it today as there are other more important things to do. Either way... 95GH and climbing rapidly!!!

We need more power captain!

Correct:

(Emphasis mine.)

Although Eclipse's pages are "sort of" public.  EMC requires you to have an account to look at anything but the front page, including the "Top Miners" page.  Easy enough to get one, though.  The miner at the bottom of that list is currently hashing at 88 GH/s.  @Lab_Rat reports that LRM will be hashing above that level on Wednesday or Thursday (Aug 7th or 8th) and will therefore appear on the list.


grnbrg.

Stats aren't public on EMC, but I think what Lab_Rat is saying is that he/we should be on the high-scores list soon, which is public

I don't see the stats on EMC. Does it require an account to view? Did you consider using Bitminter yet? It's super easy to get going, and stats appear to be available for non users to see. LRM's hashing is fast enough to be in the top 50. See here: http://bitminter.com/livestats/big

giga, I am assuming. Would mine there myself if my hash speed was high enough.

I have access to a private pool that I'd like to mine in, but transparency is rather important, so I may use EMC with this private pool as a backup.  It's no fee and by invitation only, therefore DDoS protected.  It's also extremely stable.  In the months I've mined there I have experienced 0 downtime.

Are you planning on using a commercial pool long term or are you thinking of setting up a private pool (or p2pool -- I think OgNasty, ADDICTION, pyraminning asics-only are using p2pool so they control their own nodes, are DoS protected, and only pay a ~1% donation to the developer)

I am rather dissatisfied with the random downtime on Eligius over the past 48 hours.  Due to this fact I have switched over to EMC.  I would rather have a more stable miner with less visibility.  You will see the stats hit https://eclipsemc.com/top_miners_pie.php over the next week or 2.  The company hashrate should hit ~95GH on Wednesday or Thursday depending on how reliable USPS is.  This is currently enough to be placed on the top miners list.

I will likely be implementing API connectivity with my website in the near future, but for the time being this will have to suffice.

About an hour ago, a purchase through BitFunder put the number of bonds sold from the IPO over 25,000.

25% of the initial issue has been sold in a little over 2 weeks.



grnbrg.

It's ok, I'm not afraid of death or speaking about it.  I'm having measures put in place that will cover the company in the event of this happening.  I know a few people who would have the ability to take over the company if this event were to occur.

The only question that remains unanswered, in my eyes, and without wanting to be too morbid here, is what happens in the event of your death.

I know it's not really a nice question for you to contemplate, and an understandable attitude from your point of view might be "give a shit, I'll be dead", however, companies with a single point of failure, (i.e. you), are risky by definition, and it is important to have a plan in place should the unthinkable happen. I know of big companies who have backed out of investing in smaller companies for this very reason, and having that scenario covered to mitigate the damage is important for potential investors confidence (IMHO).

Sorry to be grim, and apologies if it seems tactless, but there is no easy way to cover this point...

To anyone looking at the graph on Eligius, that little hiccup in the graph was not the miner going down, it was Eligius going down.  LRM has many back-up pools in place for such an occasion.  The pool it failed over to is private, but you will still be receiving dividends for that time.

I will not be tearing down the company unless certain circumstances are met and one of the only real reasons I could ever see myself tearing down this company is if the government decided to rip the equipment from my cold dead arms.

I believe in Bitcoin and in the event of a serious legal battle I will defend Bitcoin and all related businesses to the bitter end.

As mmmerlin stated, the more I grow this business the more I will make in the long run.  Why would I sell the hardware?

You're right, his identity is known by several here. Also, if he is Tom, he's taking playing the long game to the extreme. This thread is run in parallel on the BFL forum, with identical posts appearing from Lab_Rat in both when he makes announcements. His account on the BFL forums has been continuously maintained and in excellent rep for a very long time now, so it would therefore have to have been Tom on the BFL forums all this time, so this really doesn't seem plausible.

Also, his writing style is very different, and Lab_Rat showed no signs of meltdown when Tom was losing it towards the end. They are clearly not the same person, nor is there any reason to suspect that they are.

WRT pulling the plug, I don't think this is issue. People would have a case against him as contracts and lawyers are involved, and there are contractual obligations with respect to keeping the company running unless certain thresholds are passed in the market (minimum BTC value in the case of a crash etc), so I don't see a real risk here. Besides, I don't think this is the kind of thing he would be want to do, growing the business will be more profitable in the long run anyhow. Nobody's saying this is going to be the new ASICMiner, but there is no reason this company can't make good money long term.

I'm pretty sure his identity is known by several here. And I doubt it's Tom, unless he's using a fake name in his private emails. From what little correspondences I've had with him, he's seems legit at what he is doing. Perhaps, the only thing that bothers me is that it seems he could possibly pull the plug on everyone and keep the hardware. Afterwards, who could do anything to have a case against him? Where's your agreement? So, there appears to be that nagging risk. I'd like to know that if he was to liquidate the company, that he'd pay out to bond holders the proceeds of the mining hardware sales.

Curious? Sure, but this is the Internet where anonymity is the user's prerogative - not to mention one of the tenets behind Bitcoin.

Satoshi Nakamoto,

There's reason to believe he wanted to remain anonymous so he changed his name to Lab_Rat.

Is anybody curious as to whom Lab_Rat's previous username was, one he has great reason for distancing himself from?

Want to follow LRM's progress in securing hashrate and generating dividends for investors?

There will be 2 pools that provide public stats involved in LRM's mining operation. Eligius and Eclipse Mining Consortium. I will be using DGM on Eclipse Mining Consortium and the standard CPPSRB on Eligius to provide short term and long term stability in dividend payouts. Once there is at least 200GH secured I will be load balancing the pools, but as for now you can view the Eligius stats here and the Eclipse Mining Consortium stats will show up here once enough hashrate is secured.

There are some big deals in the works so these numbers should be climbing rapidly.

Just read this article http://thegenesisblock.com/bitfury-400-ghs-bitcoin-mining-rig-hits-us-shores/ I wish you could bottle the smell of a new ASIC miner    Looking forward to seeing them hashing.