Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 263. (Read 452170 times)

Very awesome! Glad to see this show getting on the road.

Hi folks - I just wanted to add my confirmation that the above statement by Lab_Rat is true and accurate.

Cheers,
Dave

Dave and I just finalized a portion of our deal that I find to be significant.  Dave has agreed to, with his own personal hardware, mine for LabRatMining for a minimum of 14 days once the hardware is received.  There is a guaranteed hashrate of 400GH/s (one rig), with an additional 100GH/s per $50,000 pledged to his company.  As of this time that is in the range of ~3900 bonds.  From here on out, every (approximately) 3900 bonds sold will increase this hashrate by 100GH/s that he is mining for the company up to 2TH.

***To clarify, Dave is doing this with personal hardware, therefore it will not affect shipment to any of his customers.***

The terms of this deal that have been discussed can be considered to be "minimums."  Dave has proposed that if this deal works out well for the both of us, we may extend the deal past 14 days worth of contracted mining.  As of this time it is unclear as to how the mining will take place.  We will be discussing whether it will be easier for him to mine and issue the BTC for that hashrate, or whether he can easily point that specific hashrate at an LRM public account for open viewing.  Either way the payout will be the same.

There are additional aspects of the deal being worked on, unrelated to the contracted mining, that will sweeten the investment that much more.

Additionally, and unrelated, there is a Single 60GH/s unit on it's way to me at this time with other private deals with individuals in the works (some in the range of 2.3TH.)  Dividends will be paid out next Saturday Aug. 10th accordingly on the terms I receive the unit before this weekend.  I am under the impression it was over-nighted or next day shipped so this should not be an issue.

Another big announcement is that the first large order has been placed with Butterfly Labs.  3TH has been ordered securing LRM's place in line with them, while the place in line with BitFury is held regardless of paydate.

There are many different ways to secure hashpower, and LRM is taking every one of them to ensure dividends be paid out in the largest amount possible to not only benefit the investors, but the company as a whole.

I was referring to Dave at BitFury rather than Dave "The Knife" at BFL.

I would consider that a misappropriation of funds. Far less than $10k, but most people are requesting a payment in bonds rather than BTC or fiat.

What will be price for Bfl Single like example?
10kUSD as on eBay?

Are you saying that bfl is going to negotiate a deal with you to allow you to jump in queue ahead of pre- orders and get gear sooner? If so, please take my btc now

The particular deal I was referring to in that instance does not appear to be going through, but there should be multiple other individuals shipping me Singles in the next week or so.  I believe I should be getting one Thursday, although if it reached me Friday or Monday I would not be surprised.

There has even been an offer to purchase an Avalon.

It appears LRM may be mining with equipment from all manufacturers at some point.

I am expecting to hear back from Dave later this week to finalize a part of our deal so I may make the announcement.

Lab_Rat Did you get any of the BFL hardware to start of the mining with right away ? You said you were expecting some thing soon to at least have 200gh/s going online soon.

I believe I may have some hashrate coming online far before new orders are received.  I can't give specifics as to how as of this time, but I will say that I am working on something that is quite a big deal.

I know it's hard to say but do you have an estimate or rough timeline for hashrate coming online or ordered hardware vs expected delivery date(s) (and maybe even confidence level)?

I spoke with Dave today and one of the major parts of the deal he is making with LabRatMining is in the process of being finalized.  Once it is confirmed I will be delivering specifics regarding this part of the deal.

From what we discussed he should be able to confirm this within the next couple days without a problem.

Updated estimates:
354MH/s per bond
10.5TH/s total hashrate
http://www.labratmining.com/currentHashrate.html

When you go to a market where people are selling turnips, they are generally valued somewhat the same. Nothing hocus pocus about that. I've done a lot of reading of stock profiles, news etc, and invested in a few stocks, and the general rule of thumb at the moment seems to be shares are valued at about 5 years ROI. It's a fact, although also a generalisation.

Since the mining stocks are relatively similar, theres no reason to think the performance of each stock wouldn't mirror one another.

As for the buying hardware vs buying stocks - there are loads of extremely legitimate reasons why people prefer to buy stocks - I sold my BFL pre-orders because I didn't have faith I'd be receiving them anytime soon, and my power costs (£0.17/kwh) are not hugely economical. I invested that money in shares. I'm bullish on ActM and LRM. I'm bearish on ASICM.

It's funny you started talking about hocus pocus in respect to my post, while also saying "What makes LRM either a good or bad investment is the virtue of its underlying fundamentals" because to be fair my post was based entirely on fundamentals and fundamentals alone.

I'll put my hat on a stake and say the remaining 80k odd shares will be snapped up within about 3 months.

Whether true or not, making such generalizations is pointless. If you want to go down that road, why not compare LRM to buying hardware directly and getting a 46-day ROI instead of 46-weeks? These are just example numbers, BTW; try not to take them seriously. I do not take your '5-year ROI' statement seriously either. Using either of these comparisons to decide whether LRM is a 'good' or 'bad' investment is missing the point.

What makes LRM either a good or bad investment is the virtue of its underlying fundamentals, the trustworthiness of its operator, what the BTC exchange rate does over the life of the investment, and how quickly difficulty rises. Coming up with answers to most of these questions requires skill with a Ouija board. It has nothing to do with how well or poorly "other mining stocks" are rated. Everyone has their own crystal balls, Ouija boards, skeletons in the closet, and other spiritual advisors, and they will see what they want to see.

As with all things Bitcoin, never invest more than you are able to comfortably lose. Having said that I sincerely wish LabRat the best of luck with his venture and hope it turns out well for everyone. It is one of the more interesting ventures out there for me, which is why I continue to watch as it develops. In a year's time, let's see if this has turned a profit for an investment made today.

Most of the mining stocks are on 5 year ROI...

As I mentioned earlier, a 1-year ROI is a 'soft boundary' beyond which people will no longer be so willing in invest further capital. 46 weeks is already approaching that boundary, and that's assuming a constant difficulty of 75 million during the entire 46 week period. Clearly that is an unrealistic assumption.

Difficulty will continue to grow beyond 100m, perhaps beyond 200m in that time frame. Under such conditions the break-even point will continue to be pushed back and it is conceivable that investors may  never recover their initial investment (look no further than Gigamining for an example of this).

This is all speculation from me, and from you, and it is pointless to argue about mere speculation. Everyone has their own opinion on what they expect will happen. The truth is that no one really knows. In the end all we can really do is just place our bets and watch the chips fall where they may.

I will say this: that key to success in this venture is to get as much hashrate as possible deployed as quickly as possible. Any other consideration must be secondary. If LabRat can pull that off, investors stand a much better change of achieving a reasonable ROI.

I'm just being conservative in my calcs LR ;-)

That's truly sad that that's 5x better than other mining bonds due to the fact that if 100k sold you could expect roughly 50TH with LabRatMining, therefore you would receive your ROI 25x as fast truly...

See my calculator as the 10TH was a minimum original estimate, this calculator shows how the money is actually being spent: http://www.labratmining.com/Bonds/bondCalculator.html

Some maths for my own benefit, which I may as well share:

First:
20821 LRM shares sold so far
250GH coming online "within 10 days"

Remove management expenses:
250GH - 25% = 187.5GH

20 BTC/week would be generated with 187.5GH currently (conservative figures)

Lets assume another 5000 LRM shares will be sold between now and "in about 10 days" - 25821 total

Dividend would therefore be about: 0.00077456 per share

Second:
Now lets assume 100,000 shares have been issued, and 10TH is online in.... 3 months... and lets assume difficulty of 75mil:

66 BTC/day - 25% = 346.5BTC/week
Divided by 100,000 shares = 0.003465 per share
ROI in about 46 weeks - that's about 5 x better than other mining shares.

my bad.... i guess i didn't realize that these were bond like instruments as opposed to actual "shares" of Lab Rat.