Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 272. (Read 452170 times)
July 16, 2013, 09:11:25 AM
Please read through the entire thread before asking questions. Some of this has already been covered if you would take the time to read through everything. I'd understand if it was the Asicminer thread which has over 500 pages, but this is only 3 pages.
July 16, 2013, 08:46:11 AM
Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)
If I buy the bonds on Wednesday when will the first dividend be paid? Saturday the 20th of July 2013?
If so I will buy 100 BTC worth of bonds.
You don't get any dividends until the machines arrive. After that you get 85% of what the machines you paid a 200% markup for mine.
If you don't want to wait you can achieve the same result faster - just send 2/3 of your BTC to an address you don't have the key for.
Where do you see a 15% fee included? It will be a zero fee company with all running costs covered by the company for life... As well as that, the hashrate per bond will be increasing over time. In fact Dave from BitFury has agreed to fly out to meet me in order to present a working prototype to me. I will likely be investing in BitFury a significant amount which will increase the hashrate per bond significantly.
Sorry - was confusing this with one of the other offerings trying to sell on hardware/pre-orders at a big markup.
Make up your mind whether you're running a bond or a share.
If it's a bond then fix in stone what gets paid.
If it's a share then add accountability in - and take your cut via a defined management fee.
This vague "it's sort of a bond but I'll try to give a bit more than X but without any guarantees and I'll keep whatever I feel like" approach just isn't one or the other. Investors should know what they're entitled to from the contract. If it's a bond then they're entitled to some fixed payment. If a share then they own the output of everything bought with funds raised - less costs and management fee.
Hmm, this reminds me of people coming and viewing your belongings for sale on craigslist, yet spend the duration of the time kicking tires, and questioning its worth.
Its a very simple concept, either invest, or don't.
Actually the dude has a point. A bond has a fixed rate coupon (interest rate) and share pays out after company costs and retentions are met. This is nether a bond or a share and now I have concerns that this operation was not well thought out.
This bond/share creates market confusion when people want to unload it and I don't see how you can run this operation without taking operational costs.
RatLab need to be fair to himself and keep some of the value he has created.
July 16, 2013, 08:37:58 AM
Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)
If I buy the bonds on Wednesday when will the first dividend be paid? Saturday the 20th of July 2013?
If so I will buy 100 BTC worth of bonds.
You don't get any dividends until the machines arrive. After that you get 85% of what the machines you paid a 200% markup for mine.
If you don't want to wait you can achieve the same result faster - just send 2/3 of your BTC to an address you don't have the key for.
Where do you see a 15% fee included? It will be a zero fee company with all running costs covered by the company for life... As well as that, the hashrate per bond will be increasing over time. In fact Dave from BitFury has agreed to fly out to meet me in order to present a working prototype to me. I will likely be investing in BitFury a significant amount which will increase the hashrate per bond significantly.
So the answer is NO.
Fuck I hate it when people don't answer the question directly. It's shady. Don't dance around a direct question.
Next question are these bonds tradable on an exchange? If so what exchange can I buy and sell them?
July 16, 2013, 01:57:15 AM
Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)
If I buy the bonds on Wednesday when will the first dividend be paid? Saturday the 20th of July 2013?
If so I will buy 100 BTC worth of bonds.
You don't get any dividends until the machines arrive. After that you get 85% of what the machines you paid a 200% markup for mine.
If you don't want to wait you can achieve the same result faster - just send 2/3 of your BTC to an address you don't have the key for.
Where do you see a 15% fee included? It will be a zero fee company with all running costs covered by the company for life... As well as that, the hashrate per bond will be increasing over time. In fact Dave from BitFury has agreed to fly out to meet me in order to present a working prototype to me. I will likely be investing in BitFury a significant amount which will increase the hashrate per bond significantly.
Sorry - was confusing this with one of the other offerings trying to sell on hardware/pre-orders at a big markup.
Make up your mind whether you're running a bond or a share.
If it's a bond then fix in stone what gets paid.
If it's a share then add accountability in - and take your cut via a defined management fee.
This vague "it's sort of a bond but I'll try to give a bit more than X but without any guarantees and I'll keep whatever I feel like" approach just isn't one or the other. Investors should know what they're entitled to from the contract. If it's a bond then they're entitled to some fixed payment. If a share then they own the output of everything bought with funds raised - less costs and management fee.
Hmm, this reminds me of people coming and viewing your belongings for sale on craigslist, yet spend the duration of the time kicking tires, and questioning its worth.
Its a very simple concept, either invest, or don't.
July 16, 2013, 12:38:12 AM
Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)
If I buy the bonds on Wednesday when will the first dividend be paid? Saturday the 20th of July 2013?
If so I will buy 100 BTC worth of bonds.
You don't get any dividends until the machines arrive. After that you get 85% of what the machines you paid a 200% markup for mine.
If you don't want to wait you can achieve the same result faster - just send 2/3 of your BTC to an address you don't have the key for.
Where do you see a 15% fee included? It will be a zero fee company with all running costs covered by the company for life... As well as that, the hashrate per bond will be increasing over time. In fact Dave from BitFury has agreed to fly out to meet me in order to present a working prototype to me. I will likely be investing in BitFury a significant amount which will increase the hashrate per bond significantly.
Sorry - was confusing this with one of the other offerings trying to sell on hardware/pre-orders at a big markup.
Make up your mind whether you're running a bond or a share.
If it's a bond then fix in stone what gets paid.
If it's a share then add accountability in - and take your cut via a defined management fee.
This vague "it's sort of a bond but I'll try to give a bit more than X but without any guarantees and I'll keep whatever I feel like" approach just isn't one or the other. Investors should know what they're entitled to from the contract. If it's a bond then they're entitled to some fixed payment. If a share then they own the output of everything bought with funds raised - less costs and management fee.
July 16, 2013, 12:02:59 AM
Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)
If I buy the bonds on Wednesday when will the first dividend be paid? Saturday the 20th of July 2013?
If so I will buy 100 BTC worth of bonds.
You don't get any dividends until the machines arrive. After that you get 85% of what the machines you paid a 200% markup for mine.
If you don't want to wait you can achieve the same result faster - just send 2/3 of your BTC to an address you don't have the key for.
Where do you see a 15% fee included? It will be a zero fee company with all running costs covered by the company for life... As well as that, the hashrate per bond will be increasing over time. In fact Dave from BitFury has agreed to fly out to meet me in order to present a working prototype to me. I will likely be investing in BitFury a significant amount which will increase the hashrate per bond significantly.
July 16, 2013, 12:00:28 AM
Public Offering – 100 000 bonds will be made available to the public. The bonds will be tiered in value beginning at 0.15BTC/bond with each consecutive 20 000 being 0.01BTC higher.
20 000 bonds @0.19BTC
20 000 bonds @0.18BTC
20 000 bonds @0.17BTC
20 000 bonds @0.16BTC
20 000 bonds @0.15BTC
...
*Plans for Expansion – It is intended the initial sale of bonds will result in at least 10TH/s being controlled and paid out by LabRatMining on a weekly basis. The 10TH/s current estimate is subject to increase depending on the speed at which the public offering is completed allowing for further expansion.
20 000 bonds @0.19BTC
20 000 bonds @0.18BTC
20 000 bonds @0.17BTC
20 000 bonds @0.16BTC
20 000 bonds @0.15BTC
...
*Plans for Expansion – It is intended the initial sale of bonds will result in at least 10TH/s being controlled and paid out by LabRatMining on a weekly basis. The 10TH/s current estimate is subject to increase depending on the speed at which the public offering is completed allowing for further expansion.
So you want to raise 17000 BTC = $1.65 million USD in order to place orders for 20 BFL 500 GH/s minirigs which would cost $22,484 x 20 = $450,000. Where does the other $1.2 million USD go?
I said a minimum of 100MH/s per bond, and I'm covering hosting and electrical costs for life... I think I deserve to buy the company a little hardware to pay for that, and as with every company some profit should be included for the individual(s) going through the hard work to set up such a massive operation.
July 15, 2013, 02:26:51 PM
Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)
If I buy the bonds on Wednesday when will the first dividend be paid? Saturday the 20th of July 2013?
If so I will buy 100 BTC worth of bonds.
You don't get any dividends until the machines arrive. After that you get 85% of what the machines you paid a 200% markup for mine.
If you don't want to wait you can achieve the same result faster - just send 2/3 of your BTC to an address you don't have the key for.
July 15, 2013, 01:21:08 PM
Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)
If I buy the bonds on Wednesday when will the first dividend be paid? Saturday the 20th of July 2013?
If so I will buy 100 BTC worth of bonds.
July 15, 2013, 12:09:34 PM
Public Offering – 100 000 bonds will be made available to the public. The bonds will be tiered in value beginning at 0.15BTC/bond with each consecutive 20 000 being 0.01BTC higher.
20 000 bonds @0.19BTC
20 000 bonds @0.18BTC
20 000 bonds @0.17BTC
20 000 bonds @0.16BTC
20 000 bonds @0.15BTC
...
*Plans for Expansion – It is intended the initial sale of bonds will result in at least 10TH/s being controlled and paid out by LabRatMining on a weekly basis. The 10TH/s current estimate is subject to increase depending on the speed at which the public offering is completed allowing for further expansion.
20 000 bonds @0.19BTC
20 000 bonds @0.18BTC
20 000 bonds @0.17BTC
20 000 bonds @0.16BTC
20 000 bonds @0.15BTC
...
*Plans for Expansion – It is intended the initial sale of bonds will result in at least 10TH/s being controlled and paid out by LabRatMining on a weekly basis. The 10TH/s current estimate is subject to increase depending on the speed at which the public offering is completed allowing for further expansion.
So you want to raise 17000 BTC = $1.65 million USD in order to place orders for 20 BFL 500 GH/s minirigs which would cost $22,484 x 20 = $450,000. Where does the other $1.2 million USD go?
July 15, 2013, 12:03:02 PM
So this is just a glorified plan to re-sell butterfly pre-orders.
I am finding it hard to believe any investor would profit from this. By the time the mining equipment arrives and is setup, the network will likely be at a much higher difficulty.
I am finding it hard to believe any investor would profit from this. By the time the mining equipment arrives and is setup, the network will likely be at a much higher difficulty.
July 15, 2013, 11:59:31 AM
Dividends/Bond Value – Each bond will receive a minimum of 100MH/s* worth of mining profit in dividends/returns (all dividends are intended as contractual returns based on investments and may simply be referred to as dividends for future purposes) on a weekly basis. The first payout will be at the end of the second full week mining. If the entire 100 000 bond initial offering is not sold immediately, bonds will represent an equivalent portion of the processing power included in the operation at that time. If it occurs that multiple installments of hardware are required to fulfill the public offering’s expected hardware, the earnings of each installment will begin to be paid out in dividends on the second full week of each installment. Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)
So no dividends until around early-mid 2014, then?
July 15, 2013, 11:47:47 AM
Sorry if this has been mentioned somewhere already, but when do you plan to begin mining and what will the initial hashrate be?
July 15, 2013, 07:15:48 AM
Why the tiered nature of the initial offering?
July 15, 2013, 05:39:15 AM
Lab_rat what hardware have you ordered with BFL , dates on which order was placed with BFL or do you already have got some BFL hardware to mine with ?
July 15, 2013, 05:04:08 AM
Can you please detail your strategy - scenario if BFL won't be able to ship in time?
July 14, 2013, 09:09:40 PM
Yes I am the Lab_Rat from the BFL forums, you can confirm this by viewing I made the same posts there. To those of you who say that I am giving no detail and only investing in BFL, please actually read my posts, or don't reply. Bitfury is a major competitor at this point and I will likely be meeting with them shortly and making an equivalent purchase with them, which will provide the earliest dividends possible to investors.
Post at BFL Forums: https://forums.butterflylabs.com/bitcoin-business-directory/3712-lab-rat-data-processing-llc-labratmining-official-announcement-3.html#post47502
The asset will likely be going live tonight, given I can get ahold of Ukto. The bonds will not be listed tonight, but rather Wednesday 7/17/2013 at 8AM Eastern Time (UTC -05:00) in full. This will provide the opportunity for individuals to put up buy orders to secure bonds if they do not have the option to make a purchase at that time.
Everything is now finalized and ready to go 100%.
Below you will find the details listed on the asset,
Summary:
Bonds:
Each 1 bond of LabRatMining represents a portion of the total hashrate owned and operated by LabRatMining.
This initial amount is guaranteed to be a minimum of 100MH/s per bond, but with future installments of the company the hashrate per bond will also increase. Depending on the speed at which the initial offering of bonds is completed, the 100MH/s estimate could raise rather quickly.
The current estimate for hashrate following the third installment of the company is over 200MH/s per bond.
Dividends:
Dividends are to be paid out weekly on Saturdays around 12 noon (Eastern Time UTC -5:00)
Dividends are to be paid out in the full amount with 0% fees (no fees for power, hosting costs, etc.)
Voting Rights:
Bondholders in LabRatMining do not have explicit voting rights, but concerns and questions will be heard and tended to.
Bondholders Terms/Benefits:
• These bonds are not attached to any BTC exchange in any way, shape, or form and will remain in the bondholder’s possession in the event of an exchange dissolving or LabRatMining separating from that exchange.
• No fees will be placed upon the dividends that are to be paid out to bondholders for electricity or hosting. 100% payout of the hashrate the bonds represent will be paid in full to the bondholders.
• In the event of new technology, making this operation obsolete, an upgrade option will be presented to bondholders in an attempt to keep them valid within the mining community. Company funds will be used to subsidize new investments.
• We are NOT including a forced buyback policy for shares or bonds like that of many other mining companies in an attempt to scam individuals into purchasing hardware for them.
• LabRatMining reserves the right to adjust the price and/or quantity of bonds being offered for new sale at any point in time.
Description:
Lab Rat Data Processing, LLC
LabRatMining
Official Release
Lab Rat Data Processing, LLC, a NJ company, operating under the trade name, LabRatMining is a company that will be operating as a mid to large scale miner for Bitcoins paying out dividends/returns to bondholders. Each bond in the company represents a portion of the overall hashrate owned and managed by LabRatMining. LabRatMining plans to expand mining operations to maintain a presence in the mining community for years to come.
Bond Structure – It is intended 100,000 bonds will be sold during the initial offering. These bonds represent the hashrate that these machines produce rather than the hardware itself. This allows for control of the company without taking mining profits from investors and bondholders. Future bond offerings of the company will be funded by intended additional sales in increments of 50,000 bonds. These bonds will be nonrefundable and non-callable as per traditional bonds.
Public Offering – 100 000 bonds will be made available to the public. The bonds will be tiered in value beginning at 0.15BTC/bond with each consecutive 20 000 being 0.01BTC higher.
20 000 bonds @0.19BTC
20 000 bonds @0.18BTC
20 000 bonds @0.17BTC
20 000 bonds @0.16BTC
20 000 bonds @0.15BTC
This 100 000 bond count being issued during the initial sale of bonds is slightly shortened due to a few(7) initial investors who were sold bonds before the initial offering to the public, to provide proof of interest to Ukto. These bonds are being sold initially from the bonds being offered at 0.15BTC.
These prices are first come first serve, and the prices are not guaranteed to any individual purchaser. By placing a buy order for a mining bond, you are agreeing to all terms and conditions contained herein. That includes that your order will be processed based upon the order in which it's received and there is no guarantee to any individual investor that they will receive any specific purchase price listed above. Orders will be filled based upon the lowest available price of the bonds which may necessitate a particular purchase order to be divided between bonds of different values.
Dividends/Bond Value – Each bond will receive a minimum of 100MH/s* worth of mining profit in dividends/returns (all dividends are intended as contractual returns based on investments and may simply be referred to as dividends for future purposes) on a weekly basis. The first payout will be at the end of the second full week mining. If the entire 100 000 bond initial offering is not sold immediately, bonds will represent an equivalent portion of the processing power included in the operation at that time. If it occurs that multiple installments of hardware are required to fulfill the public offering’s expected hardware, the earnings of each installment will begin to be paid out in dividends on the second full week of each installment. Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)
*Plans for Expansion – It is intended the initial sale of bonds will result in at least 10TH/s being controlled and paid out by LabRatMining on a weekly basis. The 10TH/s current estimate is subject to increase depending on the speed at which the public offering is completed allowing for further expansion.
The next installment will be offered up in bonds at the beginning of the week following completion of the initial offering. This set of 50,000 bonds will be put up for sale @0.25BTC/bond or market value +-5% at the time of the bonds being issued, whichever is of greater value. This installment will add at least 15TH/s to the companies mining operation, and with it will follow an increase in dividend payout to a minimum of 166.67MH/s per bond (this may increase depending on company expansion). This not only gives the new investors an increase in dividend payment, but gives greater benefits to the initial and early investors.
It is intended the third installment will likely mimic the second installment thereby potentially increasing the company’s total hashrate to 40+TH/s which will in turn bump the dividend payout to 200+MH/s per share. All the forgoing and following estimates presume a fully sold out bond/contract offering and returns for mining based on certain historical data for returns of similar operations.
It is intended installments in the operation will continue to occur which will provide more value to the company as well as more value to each individual bond as the company matures. These expansions, if they occur, will likely grow the company and our mining capacity in size which will provide further expanded payouts in the form of dividends (or increased dividends to investors). It is currently intended a portion of the money the company receives in revenue from bond sales and mining will be used to expand the operation which will further increase dividends per bond. It is currently intended the company will be adding to the bondholders hashrate on a regular basis as the company expands so one should expect to receive greater dividends than those explained above.
LabRatMining is in no way attached to any hardware manufacturer at this time and has not pledged to continue to host a lone company’s hardware. If, in due time, LabRatMining decides to become affiliated with a mining hardware producer or begin developing our own technology, we reserve that right.
Initial purchases will be, and have been, placed with Butterfly Labs, Inc. We believe they currently have the most efficient hardware hitting the market. However with existing and new companies continually coming out with newer, better, and more efficient hardware, our company will be dedicated to purchasing what we believe to be the best available product on the market at that time. We reserve the right to determine at that time what we believe to be the best such available products for purchase. At this time, in addition to current technologies available, we are investigating new technologies which have recently been announced to the public by BitFury.
Why LabRatMining?
LabRatMining is offering bonds at far less cost to bondholders than almost all, if not all bond issuers. Some are issuing bonds at 7+BTC/GH/s whereas these bonds are being offered initially between 1 and 2BTC/GH/s. This is three to six times as profitable as AsicMiner’s Block-Erupter USB devices already and it is intended these bonds will increase in hashrate per bond over time as an additional added bonus to the purchasers (although this is not guaranteed). Lab Rat is providing a great service to those who either can’t host the equipment they would choose to mine with, or would rather not host. The company and its owners are taking on substantial risk in this investment and managing these devices for an extended period of time. The company is providing a service that will allow for ~100% up-time by having measures put in place to make sure that HVAC, electricity, Internet, a private pool, and a hosting location are always available for this operation. The company will be tending to the hardware to keep it clean and running properly. The company shall be responsible for dealing with hardware manufacturers regarding defective units in the event of a unit failure.
• The bonds discussed above do not represent traditional bonds, but what are commonly known as PMB’s or Perpetual Mining Bonds. Another commonly used term is Mining Contracts. These bonds are not traditional bonds as offered by publicly traded companies. PMB’s are actually private contracts with anticipated returns based on investments into the company.
• This is an announcement of the company and is not a final binding document regarding the IPO. IPO terms will be released as the bonds become available for public trade.
• Some initial investors have been secured, but no money has changed hands at this time or will until further notice.
• A contract is being drafted to allow for purchase of bonds using USD, rather than BTC, which will be available at the time of release. In order to initiate such transaction, you will have to contact me via one of the listed available methods.
• This is a privately held, nonpublicly traded company. This company and the PMB's being offered are not regulated by any governmental entities including the SEC or any other agency or board.
• Returns on investment are not guaranteed. All investments are speculative, subject to influences beyond the company's control and are nonrefundable unless agreed to by the company.
• All investments are at the investor’s sole risk. You should not invest if you do not understand the investment. By purchasing a PMB or Mining Contract you are acknowledging that you understand the investment, accept the risks inherent in any investments, and specifically the risks of this investment.
Bitcoin Disclaimer -- These bonds are being purchased in Bitcoin, and all dividends are paid in Bitcoin. The purchaser understands what Bitcoins are and that they are not guaranteed to maintain any future value or even any value at all. LabRatMining does not guarantee any such values, nor does it guarantee the future success or stability of Bitcoins. These bonds are totally dependent upon the value of Bitcoins and are not otherwise secured by any asset of the company or the company itself. In the event of any devaluation or total devaluation of Bitcoins, bonds may decrease in value, including a decrease in value to 0.00BTC or any fiat currency. In the event of such an occurrence, bondholders have no right or claim to any assets held by LabRatMining.
Feel free to contact me via PM on BitcoinTalk or Butterfly Labs forums, by E-mail ([email protected] or [email protected] ), or in any chat I am present with any questions or concerns you may have with me regarding this investment, or the company as a whole, and I will get back to you in a timely manner.
Post at BFL Forums: https://forums.butterflylabs.com/bitcoin-business-directory/3712-lab-rat-data-processing-llc-labratmining-official-announcement-3.html#post47502
The asset will likely be going live tonight, given I can get ahold of Ukto. The bonds will not be listed tonight, but rather Wednesday 7/17/2013 at 8AM Eastern Time (UTC -05:00) in full. This will provide the opportunity for individuals to put up buy orders to secure bonds if they do not have the option to make a purchase at that time.
Everything is now finalized and ready to go 100%.
Below you will find the details listed on the asset,
Summary:
Bonds:
Each 1 bond of LabRatMining represents a portion of the total hashrate owned and operated by LabRatMining.
This initial amount is guaranteed to be a minimum of 100MH/s per bond, but with future installments of the company the hashrate per bond will also increase. Depending on the speed at which the initial offering of bonds is completed, the 100MH/s estimate could raise rather quickly.
The current estimate for hashrate following the third installment of the company is over 200MH/s per bond.
Dividends:
Dividends are to be paid out weekly on Saturdays around 12 noon (Eastern Time UTC -5:00)
Dividends are to be paid out in the full amount with 0% fees (no fees for power, hosting costs, etc.)
Voting Rights:
Bondholders in LabRatMining do not have explicit voting rights, but concerns and questions will be heard and tended to.
Bondholders Terms/Benefits:
• These bonds are not attached to any BTC exchange in any way, shape, or form and will remain in the bondholder’s possession in the event of an exchange dissolving or LabRatMining separating from that exchange.
• No fees will be placed upon the dividends that are to be paid out to bondholders for electricity or hosting. 100% payout of the hashrate the bonds represent will be paid in full to the bondholders.
• In the event of new technology, making this operation obsolete, an upgrade option will be presented to bondholders in an attempt to keep them valid within the mining community. Company funds will be used to subsidize new investments.
• We are NOT including a forced buyback policy for shares or bonds like that of many other mining companies in an attempt to scam individuals into purchasing hardware for them.
• LabRatMining reserves the right to adjust the price and/or quantity of bonds being offered for new sale at any point in time.
Description:
Lab Rat Data Processing, LLC
LabRatMining
Official Release
Lab Rat Data Processing, LLC, a NJ company, operating under the trade name, LabRatMining is a company that will be operating as a mid to large scale miner for Bitcoins paying out dividends/returns to bondholders. Each bond in the company represents a portion of the overall hashrate owned and managed by LabRatMining. LabRatMining plans to expand mining operations to maintain a presence in the mining community for years to come.
Bond Structure – It is intended 100,000 bonds will be sold during the initial offering. These bonds represent the hashrate that these machines produce rather than the hardware itself. This allows for control of the company without taking mining profits from investors and bondholders. Future bond offerings of the company will be funded by intended additional sales in increments of 50,000 bonds. These bonds will be nonrefundable and non-callable as per traditional bonds.
Public Offering – 100 000 bonds will be made available to the public. The bonds will be tiered in value beginning at 0.15BTC/bond with each consecutive 20 000 being 0.01BTC higher.
20 000 bonds @0.19BTC
20 000 bonds @0.18BTC
20 000 bonds @0.17BTC
20 000 bonds @0.16BTC
20 000 bonds @0.15BTC
This 100 000 bond count being issued during the initial sale of bonds is slightly shortened due to a few(7) initial investors who were sold bonds before the initial offering to the public, to provide proof of interest to Ukto. These bonds are being sold initially from the bonds being offered at 0.15BTC.
These prices are first come first serve, and the prices are not guaranteed to any individual purchaser. By placing a buy order for a mining bond, you are agreeing to all terms and conditions contained herein. That includes that your order will be processed based upon the order in which it's received and there is no guarantee to any individual investor that they will receive any specific purchase price listed above. Orders will be filled based upon the lowest available price of the bonds which may necessitate a particular purchase order to be divided between bonds of different values.
Dividends/Bond Value – Each bond will receive a minimum of 100MH/s* worth of mining profit in dividends/returns (all dividends are intended as contractual returns based on investments and may simply be referred to as dividends for future purposes) on a weekly basis. The first payout will be at the end of the second full week mining. If the entire 100 000 bond initial offering is not sold immediately, bonds will represent an equivalent portion of the processing power included in the operation at that time. If it occurs that multiple installments of hardware are required to fulfill the public offering’s expected hardware, the earnings of each installment will begin to be paid out in dividends on the second full week of each installment. Dividends will be paid out on Saturdays ~12 noon Eastern Time(UTC -0500.)
*Plans for Expansion – It is intended the initial sale of bonds will result in at least 10TH/s being controlled and paid out by LabRatMining on a weekly basis. The 10TH/s current estimate is subject to increase depending on the speed at which the public offering is completed allowing for further expansion.
The next installment will be offered up in bonds at the beginning of the week following completion of the initial offering. This set of 50,000 bonds will be put up for sale @0.25BTC/bond or market value +-5% at the time of the bonds being issued, whichever is of greater value. This installment will add at least 15TH/s to the companies mining operation, and with it will follow an increase in dividend payout to a minimum of 166.67MH/s per bond (this may increase depending on company expansion). This not only gives the new investors an increase in dividend payment, but gives greater benefits to the initial and early investors.
It is intended the third installment will likely mimic the second installment thereby potentially increasing the company’s total hashrate to 40+TH/s which will in turn bump the dividend payout to 200+MH/s per share. All the forgoing and following estimates presume a fully sold out bond/contract offering and returns for mining based on certain historical data for returns of similar operations.
It is intended installments in the operation will continue to occur which will provide more value to the company as well as more value to each individual bond as the company matures. These expansions, if they occur, will likely grow the company and our mining capacity in size which will provide further expanded payouts in the form of dividends (or increased dividends to investors). It is currently intended a portion of the money the company receives in revenue from bond sales and mining will be used to expand the operation which will further increase dividends per bond. It is currently intended the company will be adding to the bondholders hashrate on a regular basis as the company expands so one should expect to receive greater dividends than those explained above.
LabRatMining is in no way attached to any hardware manufacturer at this time and has not pledged to continue to host a lone company’s hardware. If, in due time, LabRatMining decides to become affiliated with a mining hardware producer or begin developing our own technology, we reserve that right.
Initial purchases will be, and have been, placed with Butterfly Labs, Inc. We believe they currently have the most efficient hardware hitting the market. However with existing and new companies continually coming out with newer, better, and more efficient hardware, our company will be dedicated to purchasing what we believe to be the best available product on the market at that time. We reserve the right to determine at that time what we believe to be the best such available products for purchase. At this time, in addition to current technologies available, we are investigating new technologies which have recently been announced to the public by BitFury.
Why LabRatMining?
LabRatMining is offering bonds at far less cost to bondholders than almost all, if not all bond issuers. Some are issuing bonds at 7+BTC/GH/s whereas these bonds are being offered initially between 1 and 2BTC/GH/s. This is three to six times as profitable as AsicMiner’s Block-Erupter USB devices already and it is intended these bonds will increase in hashrate per bond over time as an additional added bonus to the purchasers (although this is not guaranteed). Lab Rat is providing a great service to those who either can’t host the equipment they would choose to mine with, or would rather not host. The company and its owners are taking on substantial risk in this investment and managing these devices for an extended period of time. The company is providing a service that will allow for ~100% up-time by having measures put in place to make sure that HVAC, electricity, Internet, a private pool, and a hosting location are always available for this operation. The company will be tending to the hardware to keep it clean and running properly. The company shall be responsible for dealing with hardware manufacturers regarding defective units in the event of a unit failure.
• The bonds discussed above do not represent traditional bonds, but what are commonly known as PMB’s or Perpetual Mining Bonds. Another commonly used term is Mining Contracts. These bonds are not traditional bonds as offered by publicly traded companies. PMB’s are actually private contracts with anticipated returns based on investments into the company.
• This is an announcement of the company and is not a final binding document regarding the IPO. IPO terms will be released as the bonds become available for public trade.
• Some initial investors have been secured, but no money has changed hands at this time or will until further notice.
• A contract is being drafted to allow for purchase of bonds using USD, rather than BTC, which will be available at the time of release. In order to initiate such transaction, you will have to contact me via one of the listed available methods.
• This is a privately held, nonpublicly traded company. This company and the PMB's being offered are not regulated by any governmental entities including the SEC or any other agency or board.
• Returns on investment are not guaranteed. All investments are speculative, subject to influences beyond the company's control and are nonrefundable unless agreed to by the company.
• All investments are at the investor’s sole risk. You should not invest if you do not understand the investment. By purchasing a PMB or Mining Contract you are acknowledging that you understand the investment, accept the risks inherent in any investments, and specifically the risks of this investment.
Bitcoin Disclaimer -- These bonds are being purchased in Bitcoin, and all dividends are paid in Bitcoin. The purchaser understands what Bitcoins are and that they are not guaranteed to maintain any future value or even any value at all. LabRatMining does not guarantee any such values, nor does it guarantee the future success or stability of Bitcoins. These bonds are totally dependent upon the value of Bitcoins and are not otherwise secured by any asset of the company or the company itself. In the event of any devaluation or total devaluation of Bitcoins, bonds may decrease in value, including a decrease in value to 0.00BTC or any fiat currency. In the event of such an occurrence, bondholders have no right or claim to any assets held by LabRatMining.
Feel free to contact me via PM on BitcoinTalk or Butterfly Labs forums, by E-mail ([email protected] or [email protected] ), or in any chat I am present with any questions or concerns you may have with me regarding this investment, or the company as a whole, and I will get back to you in a timely manner.
July 14, 2013, 06:05:10 PM
So no real company registration then...... and you are trading securities....(company shares)
Plus you are looking at BFL kit being shipped in 2014....
Don't get me started about 'everything will be cleared by September', it is BULL, I know what my BFL order numbers are, and they STILL have not been cleared.
Plus you are looking at BFL kit being shipped in 2014....
Don't get me started about 'everything will be cleared by September', it is BULL, I know what my BFL order numbers are, and they STILL have not been cleared.
July 14, 2013, 05:54:31 PM
I say we need competition.
I guess the OP is the same as the labrat on BFL forums. can you please confirm this?
I guess the OP is the same as the labrat on BFL forums. can you please confirm this?
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I can confirm that this is, in fact Lab_Rat from the BFL forums.
(And I've signed this message with the donations address I've used on the BFL forums, and BFL_News twitter feed.)
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Signature: G71LEVhESloznQ97mZwNsLBAdThDgfX65gjvAQZONdDXK5kBvQO2nHnImIhdGId22ULqjMrGkPZuYWg UhciOql8=
Address: 1grnbrg3Ea4t6bxHvQKRvorbBeLNDXv2N
grnbrg.
July 14, 2013, 04:35:06 PM
I say we need competition.
Competition is one of the most amazing market forces.
However, vague/shady securities with little few mentioned details should not be the standard held to compete with. We don't need more of those...but they will keep coming.
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