I got to the "Initial purchases will be placed with Butterfly Labs, Inc." and checked out.
It's like an 'unintentional' pump and dump to start a security with future BFL equipment these days....
Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 274. (Read 452170 times)
July 06, 2013, 08:48:24 PM
It's like an 'unintentional' pump and dump to start a security with future BFL equipment these days....
So, you have been on a 7 months hiatus from the forums. Bought account I'm guessing.
Why not list on an exchange?
It will be listed on bitfunder.
I got to the "Initial purchases will be placed with Butterfly Labs, Inc." and checked out.
I didn't even open the page. Thanks for telling me I shouldn't bother.Also, love your pro hyperlinking skills.
I got to the "Initial purchases will be placed with Butterfly Labs, Inc." and checked out.
Another PMB, cool.
Why not list on an exchange?
That site is temporary, I'm in the process of developing a new one. I have no problems confirming my identity with a trusted member of the community if that's an issue, but quite a few people in the community know me on a personal level.
What's your companies registration number etc?
I'm sorry but your site is poorly coded in html.
Edit: nvm found here https://www.njportal.com/DOR/businessrecords/
Still proves nothing. No address, No phone number or any details.
I mean c'mon man anyone can open a LLC, make a site and start issuing online bonds, take peoples money and then buy all stuff or run away will all money.
I'm sorry but your site is poorly coded in html.
Edit: nvm found here https://www.njportal.com/DOR/businessrecords/
Still proves nothing. No address, No phone number or any details.
I mean c'mon man anyone can open a LLC, make a site and start issuing online bonds, take peoples money and then buy all stuff or run away will all money.
Lab Rat Data Processing, LLC
LabRatMining
Official Announcement
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 IPO. 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.
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 IPO 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 IPO’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 IPO 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 IPO 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 IPO. 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 placed with Butterfly Labs, Inc. We believe they currently have the most efficient hardware hitting the market, but with ever expanding competition, a new company may come to fruition that allows for our company to become more efficient and cost effective.
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. These bonds will be nonrefundable and non-callable.
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 in 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.
With the announcement of this company comes my resignation from the position of moderator on the Butterfly Labs Forums to avoid any conflict of interest. Grnbrg will have to take care of it from here on out. I will still be around on the forum, but on different terms.
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.
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