Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 33. (Read 452224 times)

To anyone concerned about FinCEN, my lawyer has deeply reviewed the subject to the point of making calls to DC and has determined that with the moves we've made, we are 100% in compliance.  We will continue to monitor the situation as we all know it could change at any moment.

Seizure of website - no one would lose any sleep over that. It would also be exceptionally easy to prevent. If you don't know how/don't think so - forget it

As for fincen I'm positive the lawyer he's been dealing with when asked about it would've shrugged it off and not looked into it, and if ya believe that I've got some land at the bottom of Australia I'm trying to sell.
Gotta love the absolute idiotic mire that is bureaucracy over there (not saying here is in any way exempt either).

I probably wouldn't spend the time putting forward documents either if it wasn't required to be public with them (if they are/were required) and instead invest my time a bit better.

I am not sure why we keep arguing about Fincen.  Rightly or wrongly, LRM already made a decision, and that will not change until new guidance is issued, a state contacts LRM, or Fincen contacts LRM. (That is assuming his assessment of the regulation is wrong and the business is not compliant.)

I feel you are being unfair, biased and a bit broad in these statements... as I also feel the Final Rule is also still a bit broad and needs to be further defined... here is what I see...


Two things here... 1) LRM only accepts virtual currencies from users as part of the buy in process to participate in the mining operation... LRM only transmits those funds to pay bills and buy equipment as a USER by definition and then 2) the definitions above do not take into consideration the POOL aspect of minting... this deficiency is the main reason why there is still need for clarification of what is an MSB... if LRM was not using a pool then it would be clear... LRM never ACCEPTS virtual currency in its day to day mining... it MINTS IT. I see no place where minting is defined properly. FinCen is lacking substance here.


Here I clearly see that without defining the difference between receiving payouts from a pool or solo mining, or defining that they are both technically the same mnting process AND NOT money transmission, LRM never takes currency from one person to send to another... LRM is involved in the MINTING of said currency and is the original owner (other than the lacking pool definition aspect) and therefore is not accepting the payout currency from anyone... it OWNS it and then PAYS it which should clearly be an exception in the eyes of FinCen.


Again, here FinCen attempts to define all methods of de-centralized minting, but fails miserably because they do not understand the entire process... LRM is a pool mining participant and receives payouts from the pool itself so by this bad definition would seem to be an MSB, but it will eventually be redefined after someone is litigated to reflect that mining operations, rather by pool or solo, are minting and thus OWN the coins before they distribute them, and the distribution is not resale in any way.

This may get flipped on us soon and pools and mining operations will become MSBs one day... but as it stands now, LRM is in good standing and NOT an MSB as FinCen has yet to satisfactorily define how a pool or mining operation that rewards its participants is to be treated as neither fall under the definitions as they have been presented.

Nice job grnbrg.  Thanks.

Pix!  Let's see if BitcoinTalk craps on all of these.  Or my webserver....

Edit:  This isn't working well.  You're all going to have to click for the pix.


Secret Data Centre Number 1


DC1-1

DC1-2

DC1-3

DC1-4

DC1-5

DC1-6


Secret Data Centre Number 2


DC2-1

DC2-2

The last of the BFL Singles:
DC2-3

Waiting for the Moarchs.  (Just two more weeks!)
DC2-4

DC2-5

It's a box of fans!
DC2-6

DC2-7

DC2-8


All in all, about what you'd expect from a data centre (or two) built fast and cheap.  Wire shelving, box fans, piles of power supply boxes stacked in the corners.  Netbooks and network gear strewn about.  Reasonably tame snarls of CAT-5 spaghetti.    What I was surprised by was the electrical stuff, which was all done "correctly" -- conduit for the cables, everything well attached, nothing warm to the touch.  Lab_Rat indicated it had all been cleared by the building inspectors, and it looked it.

Not too exciting to look at pictures, but here they are!



grnbrg.

Don't even get me started... Ill leave it to the experts,

You become really boring man...

You haven't invest a sigle Satoshi in LRM and you come here to troll...

so :
- if you aren't invested in LRM please...STFU and GTFO.
- if you haven't good advice for the good of this company and shareholders....STFU and GTFO
- if you are speaking out of your ass about FinCen and cie...STFU and GTFO.

Zach isn't perfect but he try the best for the company and shareholders.
I see (and invest) much worse...

I'm pretty fed up with little losers like you...

So eating makes me a fraud now? 

I shall starve for my company then...

Please re-read the original contract... All you were ever owed, but that's not what you received correct?

!

+100

>Investment
hahaha
owow

You forgot the RSPCA.

You're right Dutchy. Living anything more than the life of a pauper means that Lab Rat is absconding with our investment. Call the FTC, SEC, CIA, FBI, CSI, McDLT, BLT, LGBT and MLT (where the mutton is nice and lean). Alarm! Alarm! Danger Will Robinson!

Yeah but was that the really HURT part?

No.  But it's the last thing I remember before waking up in my hotel room, in a bathtub full of ice, and a badly stitched incision in my side.... 



grnbrg.

He bought you ice cream?

Was it good for you?

Did you get a candy bar too?

:eyeroll:

Mine.

Although he did buy me an ice cream today, I suppose.


grnbrg.

And you did all this on whose money?