Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 34.

grnbrg

hero member

Activity: 509

Merit: 500

Official LRM shill

I've had a busy couple of days with Lab_Rat, some of it work, and most of it fun (We went to Six Flags Great Adventure for the day, today....) and I've moved on to my vacation in Washington DC. I just finished the 4 hour drive from New Jersey, and am going to bed. I have pictures from both the NJ data centres, and will post them tomorrow evening.

I demanded a huge bribe from Zach, which he refused to pay, so I'm just going to have to spill all the secrets. The fast cars. The loose women. The SS Kerpopples.... Wink

grnbrg.

(But really, I didn't see or hear anything particularly surprising during my visit. The pictures will be of interest, I'm sure, but there's not much else to report.)

And now.... Bed time.

bigasic

hero member

Activity: 924

Merit: 1000

Quote from: contactmike1 on May 29, 2014, 03:05:59 PM

Quote from: contactmike1 on May 28, 2014, 06:02:05 PM

New equipment does go into the dividend pool, after two weeks. I know people complain that it's not contractually guaranteed (and it isn't), but you'll make more money selling out at these lows if you don't believe there will be new equipment. Why hold?

I just answered this question for you yesterday.

Im glad your confident....

contactmike1

sr. member

Activity: 672

Merit: 251

Quote from: contactmike1 on May 28, 2014, 06:02:05 PM

New equipment does go into the dividend pool, after two weeks. I know people complain that it's not contractually guaranteed (and it isn't), but you'll make more money selling out at these lows if you don't believe there will be new equipment. Why hold?

I just answered this question for you yesterday.

bigasic

hero member

Activity: 924

Merit: 1000

Quote from: Lab_Rat on May 28, 2014, 11:44:00 PM

Quote from: bigdude on May 28, 2014, 11:21:52 PM

So what everyone really wants to know is ....

What is our current hashrate?

And what will the hashrate be into the future?

Current hashrate is north of 100TH a decent amount and I'm hoping to turn it into 200TH+ in the very near future. Key word in that sentence is "hoping" as I'm not the one producing that hardware.

Got a question.. What good will 200ths do us when the bonds are at a fixed rate?

Why even care what the hashrate is? if you signed the latest contract, all you are legally able to get is 100mhs per bond.

tempestb

hero member

Activity: 729

Merit: 500

Exemption F: (F) Accepts and transmits funds only integral to the sale of goods or the provision of services, other than money transmission services, by the person who is accepting and transmitting the funds.

He transmits funds that are integral to the provision of the service, and is not providing a money transmission service (Exchanging Bitcoin for USD for instance).

He's exempt.

The thing you are missing from all the legalese is that FinCen is interested in you laundering the money. They want to know if you are operating a business which takes in cash, flips it into Warcraft Gold, then you sell the Warcraft Gold for new cash, and you give the cash to other people. Havelock or Crypto-Trade are Money Transmission Businesses. Bitpay, for instance, is not. They are exempt because a single individual is taking their money and flipping it back and forth. They don't care about that.

The guidance explains that Mining and investment mining operations like this are exempt. The service is exempt.

contactmike1

sr. member

Activity: 672

Merit: 251

Quote from: ?? on ??

as they may constitute money transmission

it may be engaged in money transmission

The FINCEN guidance says it may be a MSB, which means each entity needs to do an assessment. I think labrat said multiple times he's looked into it and believes that Labrat Data Processing LLC is OK at this time.

btcrealm

jr. member

Activity: 62

Merit: 1

Quote from: ICantThinkOfaName on May 29, 2014, 09:31:15 AM

https://docs.google.com/spreadsheets/d/1YnYihk2iWoxyD4fYMhwDbeVaQJRjBU_NVARqMXUIOd4

Updated with this (last?) weeks divs. Also added a couple of charts on sheet two. I plan on reconciling my list with LR's Official List when I get some time as well as adding more charts. (Bitches love charts)

Thanks for keeping these up!

tempestb

hero member

Activity: 729

Merit: 500

Quote from: ?? on ??

Can you please provide us with links to your Money Service/Transmitter Business registrations as well as a copy of your Fin-Cen registration?

Can you tell us in which states you are registered as a Money Service Business?

You obviously don't know what a Money Service Business is. FinCEN already said that miners and Bitcoin investments are not subject to being a Money Transmitter or Money Service Business.
http://www.coindesk.com/fincen-bitcoin-miners-investors-money-transmitters/

Folks who send money via Bitcoin is not a Money Transmitter by default. You have to operate a business which sends money as a service. A Bitcoin exchange that turns USD into Bitcoin and back is an example of a Money Transmitter. An operation that deals with just mining and moving Bitcoin to investors is not.

ICantThinkOfaName

full member

Activity: 146

Merit: 100

https://docs.google.com/spreadsheets/d/1YnYihk2iWoxyD4fYMhwDbeVaQJRjBU_NVARqMXUIOd4

Updated with this (last?) weeks divs. Also added a couple of charts on sheet two. I plan on reconciling my list with LR's Official List when I get some time as well as adding more charts. (Bitches love charts)

theMiracle

full member

Activity: 154

Merit: 100

Quote from: ?? on ??

Glad to hear things are improving.

Why was grnbrg not permitted to simply say you were occupied moving equipment to deal with a hosting problem?? (That would have substantially reduced the stress levels of no-dividend combined with no Labrat present and accounted for...)

How to make shit news seem great:

1. Stop communicating, let everyone fear teh worst.
2. Return, deliver shit news.
3. Everyone's psyched, shit not as bad as feared. Very joy. Such exalted.
4. ? ? ?
5. PROFIT!

zero10

newbie

Activity: 10

Merit: 0

Is it too much to ask to be notified of these things in ADVANCE instead of days after the expected payout?
I am very understanding but to be told days after the problem that "oh by the way, our equipment was down most of the week because of a move" is pretty poor IMO.

bigdude

hero member

Activity: 896

Merit: 500

Dolphins Finance TRUSTED FINANCE

Quote from: carnoto on May 29, 2014, 03:44:18 AM

any plan to list on exchange?

+1

Very good question

carnoto

newbie

Activity: 25

Merit: 0

any plan to list on exchange?

bobfranklin

member

Activity: 116

Merit: 10

Quote from: Mindsync Miner on May 29, 2014, 02:14:31 AM

Good to hear from you LR.

Let's see how long it takes for people around here to punish you for breaking your silence.

RABBLE RABBLE RABBLE

Mindsync Miner

member

Activity: 69

Merit: 10

An independent miner.

Good to hear from you LR.

Let's see how long it takes for people around here to punish you for breaking your silence.

btcrealm

jr. member

Activity: 62

Merit: 1

bobfranklin

member

Activity: 116

Merit: 10

Quote from: Lab_Rat on May 28, 2014, 11:46:19 PM

If you'll notice from the spreadsheet I just posted, LRM has now paid out over 1500 BTC in distributions.

Noice!

Lab_Rat

hero member

Activity: 599

Merit: 502

Token/ICO management

If you'll notice from the spreadsheet I just posted, LRM has now paid out over 1500 BTC in distributions.

Lab_Rat

hero member

Activity: 599

Merit: 502

Token/ICO management

Quote from: bigdude on May 28, 2014, 11:21:52 PM

So what everyone really wants to know is ....

What is our current hashrate?

And what will the hashrate be into the future?

Current hashrate is north of 100TH a decent amount and I'm hoping to turn it into 200TH+ in the very near future. Key word in that sentence is "hoping" as I'm not the one producing that hardware.

Lab_Rat

hero member

Activity: 599

Merit: 502

Token/ICO management

Quote from: ?? on ??

Quote from: Lab_Rat on May 28, 2014, 10:55:32 PM

Quote from: ICantThinkOfaName on May 23, 2014, 10:58:30 PM

Spreadsheet with divs per bond going back to day 1. Also has approximate hashrate, div increase/decrease week over week, and profit % based on .15 BTC IPO.

If any one sees any glaring mistakes, let me know.

https://docs.google.com/spreadsheets/d/1YnYihk2iWoxyD4fYMhwDbeVaQJRjBU_NVARqMXUIOd4/edit?pli=1#gid=0

In response to previous post. This seems pretty accurate (didn't check 100% but trust it from the looks), but mine has conversions to USD based on BTC "closing" price on days of payments as well.

By the way Lab, have you become Fin-CEN compliant and have you registered as a Money Service Business in each of he US states in which you do business?

Just askin'.

http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html

I believe we are in compliance, but the laws based around virtual currencies are developing around us so I have my eyes constantly peeled.

Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 34. (Read 452170 times)