Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 42. (Read 452224 times)

Nope... LRM will either keep paying it anyways or LRM will get to keep them if it is legal to do so.

Fair enough, so the generated income goes into the ether then? Seems like a waste to me (cutting off the nose to spite the face sorta thing).
I've invested in worse but I do understand.

No I want nothing to do with this.  I don't want to sell them, because they are hardly worth anything near what I paid for them and I don't want to pass on what I consider to be a bad investment. 

Or just let them continue to pay (even if it's small amounts it's still something).

Or give them to me

I'm baffled why you wouldn't just sell them?

Don't burn your shares, just give them to me 

I'm officially out of this mess.  I have requested that LRM burn my shares and no longer pay anything to my wallets.  Thank god I tested the waters (put a small amount in to be able to watch) before putting the rest of hardware budget into it. 

Those who lost larger amounts have my sympathy.  Feel free to contact me if you need help with anymore of this.  I got away with minimal loss and after consideration realize, it's just not worth the time. 

These shares are worthless to me. G' luck peeps. . .peace out.  Not worth my time. 

ok

In addition to the very active discussion here, two messages were sent out to all email addresses registered with LRM.

I would suggest emailing [email protected] and explaining your circumstances directly to Zach.



grnbrg.

Hi, I have been out of town and did not get a chance to here about the new news till now.

I see some people saying that i will not get todays "bonus payment" because i didn't switch in time this seems unfair to me, I returned a large overpayment in the past and have never disparaged LRM in any way. I hope you see it in your heart to make good on that with me.

Don't worry about it.  I hate it when people delete posts.    And I don't mind looking derpy on occasion.



grnbrg.

Feel free to delete it as i deleted the above post and will also delete this one afterwards.

Fuck.

I hate it when I moron.



grnderp.

Unless there are unusual. extenuating circumstances, anyone who did not convert to the April 25th contract before the May 10th divs were paid were therefore not eligible for the May 13th bonus payment.  You still have the option to convert to be eligible for future bonus payments.

If there is anyone who did contact myself or Lab_Rat to convert prior to the May 10th dividend payment, but did not receive the bonus payment, please contact myself or Lab_Rat, and we will resolve the issue.  Zach does not believe there are any people in this category, however.  (And note that the error reported by sparky999 was not due to a lost email.  It was a more complex problem, which is being resolved.)



grnbrg.

Edit:  Because calendar.

I have received your PM to convert to the April 25th contract.  I will pass it on to Zach, and you will begin receiving any bonus payments beginning next week.



grnbrg.

https://twitter.com/LRM_News

https://twitter.com/LRM_News/status/414936894762266625
"with  the sale of more bonds it could very easily push past 200TH in addition  to the 50TH in hand already"

https://twitter.com/LRM_News/status/426560802837913600
"LRM has locked in an order with a guaranteed hashrate of 156+TH/s."

https://twitter.com/LRM_News/status/414936849119838208
"FEB/MAR (150-250TH est): Bitfury equipment should start shipping out by the end of February which will be a minimum of 100TH, but (...)"

So 50 TH in hand, and I believe 75% of the bitfury order rolled out = 117TH/s + 50th/s = 167Th/s

:facepalm:

Yeah, you were one of the first to convert, I think.  Zach has said he would fix such omissions.



grnbrg.

We know?
How? What was the total orders of Bitfury he has? (that a part of is hashing now)

Yes, this week's dividends were great.

The problem is that we come from a system that was based on high reinvestment, low dividends: we buy hashing power but not all of it's output flows into our wallets as dividends: no, we reinvest. When a company reinvests, it's goal should always be the increase in the company's worth and thus the worth of one bond. Whatever is not reinvested can be paid out as dividends.

By putting "Fixed 100Mh/s" on the contract it essentially makes the bonds worthless. So the system changes - or should - from high reinvestment to high dividends but there is no way to calculate those dividends anymore like you would when you really had 100Mh/s while it was still worth something. Instead, we get 100Mh/s plus a bonus. What is this bonus based on? Will my reinvestment ever be paid back this way? Who is gonna buy this formula? Seriously?

You don't know if this will ROI. But off course you never know this. But what you DO have in a "normal" shareholder situation is the ability to opt out... sell your bonds if you think the investment will not pay back anymore. But as stated above this is taken from us by placing "Fixed 100Mh/s" on the contract. On Cex.io, the price of one Gh/s at this moment is 0.0068BTC which will also not grow but you WILL receive full mining profit from it and it is up to you to decide if you want to reinvest and buy more Gh/s.

So it comes down to trust again. And trust is thin these days. I really do NOT believe that Zach is a scammer but I do think that this should be resolved and decided upon by more then one person. We invested and reinvested in LRM as a whole, it's sad to see that a share of LRM compares to the price of "100Mh/s" right now. As long as "bonus" is not defined somehow, it means nothing. Basically you put your trust in one person. And even though Zach is probably trustworthy, what happens when he is out of the picture? Hit by a truck, dead? Is the next LRM owner going to be trustworthy too?. Yes, testimonies over time might change this but that doesn't give me a warm, fuzzy feeling right NOW :s. It feels like I'm being forced to gamble with no option to cash out. The value of one bond will decline forever and we do not have any clue as to how we MIGHT make money from our investment. Right now everyone wonders "Will I ever get paid back?" We are not even considering "Was this a good investment? Will I MAKE money from this?"

It's just not right that our ROI is based on the whims and likes of ONE person (but again: I'm not calling anybody a liar or a cheater here. I think we could have done ALOT worse. I still think Zach is willing and is trustworthy or I wouldn't have signed this new contract.) The bonus that was paid is great. But how does this compute? Will it go down forever from now on? Will it go up or will it constantly fluctuate? I ask again: "Who will buy this formula?" If it is so great, people should be lining up to buy more of LRM - like I once did when conditions were great.

A little bit of transparency would be great here... I still don't understand why it was legally wrong that our hashrate grew. We buy part of the company, the company's activity is hashing and it's profits are determined by it's hashrate. For our part to grow, so should our hashrate. Is that not the purpose of buying shares? You bet on them to grow? Any other method is just saying you are now a copy of cex.io where you buy hashrate and it stays that way. Right now we are neither a shareholder nor did we buy hashrate. We are floating in gray areas.

It's shady at best...

Dude we already know he has at-least 150TH/s online. But has only been paying dividends for the 25th/s ish while he was figuring out the problems.