Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 67.

daemonfox

hero member

Activity: 630

Merit: 500

Quote from: ||bit on April 19, 2014, 05:05:49 AM

Quote from: Lab_Rat on September 30, 2013, 04:41:56 AM

Quote from: ||bit on September 28, 2013, 03:21:58 AM

Quote from: tgerring on September 28, 2013, 01:30:05 AM

Quote from: ||bit on September 27, 2013, 07:49:24 PM

It'll be nice if the exchange rate for bitcoin pops before Labrat orders anything, and stays up when using the scooped up dividends next month.
The price pattern for bitcoin is looking nice on the chart, so far.

Assuming he orders in fiat, not BTC?

Not sure how likely this is.

Equipment is priced in fiat, but he has in the past held funds in bitcoin until paying.

Correct

Daemonfox.... ^ see here ^

That was still September... where do we see that he concretely pinpoints when he paid for Bitfury gear and at what exchange rate?

||bit

hero member

Activity: 924

Merit: 506

Quote from: Lab_Rat on September 30, 2013, 04:41:56 AM

Quote from: ||bit on September 28, 2013, 03:21:58 AM

Quote from: tgerring on September 28, 2013, 01:30:05 AM

Quote from: ||bit on September 27, 2013, 07:49:24 PM

It'll be nice if the exchange rate for bitcoin pops before Labrat orders anything, and stays up when using the scooped up dividends next month.
The price pattern for bitcoin is looking nice on the chart, so far.

Assuming he orders in fiat, not BTC?

Not sure how likely this is.

Equipment is priced in fiat, but he has in the past held funds in bitcoin until paying.

Correct

Daemonfox.... ^ see here ^

sparky999

sr. member

Activity: 473

Merit: 250

Quote from: ||bit on April 18, 2014, 06:02:48 PM

you had an arrangement with BitFury where you did not need pay Dave anything until hardware was actually ready to ship (not before). So, the bitcoins were in hand and increasing in value until shipments were ready.

Wow ,I was unaware that was the situation. I assumed funds were tied up, that is quite a bombshell.

a2offrb

full member

Activity: 453

Merit: 101

RISE WITH RAYS FOR THE FUTURE

Quote from: daemonfox on April 18, 2014, 06:30:38 PM

Quote from: ||bit on April 18, 2014, 06:02:48 PM

Quote from: Lab_Rat on April 18, 2014, 04:18:46 PM

Quote from: karusloom on April 18, 2014, 02:56:51 PM

Quote from: Lab_Rat on April 18, 2014, 02:43:50 PM

Quote from: ICantThinkOfaName on April 18, 2014, 07:44:35 AM

Quote from: karusloom on April 17, 2014, 05:55:53 PM

Is it only me or ...., every time we read anything about Gox we hear a litle from Rat and now that Gox has filed for liquidation suddenly Rat has the documents in hand

I seriously hope that i'm wrong about this but may god give us strength if im right and all our funds are flushed and that 18TH is all we ever going to see.

Quote from: Lab_Rat on March 08, 2014, 01:52:10 PM

Mt. Gox did not effect LRM.

The trading platform is still being worked on. It's in Alpha testing, but it is not owned, operated, or affiliated with LRM.

I can assure you I wasn't stupid enough to hold funds on any exchange and I'm still not.

I manage all priv keys used.

I believe you understand if I don't take your word very seriously only because you have had all our funds in hand from the day 1 but we do not see the gear that was promised months ago mining for us, not to mention that bitfury still has equipment in stock ready to ship over night. So....yeah.

And to clarify, the majority of the funds that were pulled in were when the bitcoin price was between $80-120, so the millions they'd be worth today was only a few hundred thousand. On top of this, equipment pricing was much steeper back then.

...However, you held the property invested and did not trade it for fiat...

Where has that ever been posted? For all we know... it was traded for Fiat almost immediately because at that time... no one knew which way BTC was going...

Lab Rat posted that somewhere in this topic

daemonfox

hero member

Activity: 630

Merit: 500

Quote from: ||bit on April 18, 2014, 06:02:48 PM

Quote from: Lab_Rat on April 18, 2014, 04:18:46 PM

Quote from: karusloom on April 18, 2014, 02:56:51 PM

Quote from: Lab_Rat on April 18, 2014, 02:43:50 PM

Quote from: ICantThinkOfaName on April 18, 2014, 07:44:35 AM

Quote from: karusloom on April 17, 2014, 05:55:53 PM

Is it only me or ...., every time we read anything about Gox we hear a litle from Rat and now that Gox has filed for liquidation suddenly Rat has the documents in hand

I seriously hope that i'm wrong about this but may god give us strength if im right and all our funds are flushed and that 18TH is all we ever going to see.

Quote from: Lab_Rat on March 08, 2014, 01:52:10 PM

Mt. Gox did not effect LRM.

The trading platform is still being worked on. It's in Alpha testing, but it is not owned, operated, or affiliated with LRM.

I can assure you I wasn't stupid enough to hold funds on any exchange and I'm still not.

I manage all priv keys used.

I believe you understand if I don't take your word very seriously only because you have had all our funds in hand from the day 1 but we do not see the gear that was promised months ago mining for us, not to mention that bitfury still has equipment in stock ready to ship over night. So....yeah.

And to clarify, the majority of the funds that were pulled in were when the bitcoin price was between $80-120, so the millions they'd be worth today was only a few hundred thousand. On top of this, equipment pricing was much steeper back then.

...However, you held the property invested and did not trade it for fiat...

Where has that ever been posted? For all we know... it was traded for Fiat almost immediately because at that time... no one knew which way BTC was going...

||bit

hero member

Activity: 924

Merit: 506

Quote from: Lab_Rat on April 18, 2014, 04:18:46 PM

Quote from: karusloom on April 18, 2014, 02:56:51 PM

Quote from: Lab_Rat on April 18, 2014, 02:43:50 PM

Quote from: ICantThinkOfaName on April 18, 2014, 07:44:35 AM

Quote from: karusloom on April 17, 2014, 05:55:53 PM

Is it only me or ...., every time we read anything about Gox we hear a litle from Rat and now that Gox has filed for liquidation suddenly Rat has the documents in hand

I seriously hope that i'm wrong about this but may god give us strength if im right and all our funds are flushed and that 18TH is all we ever going to see.

Quote from: Lab_Rat on March 08, 2014, 01:52:10 PM

Mt. Gox did not effect LRM.

The trading platform is still being worked on. It's in Alpha testing, but it is not owned, operated, or affiliated with LRM.

I can assure you I wasn't stupid enough to hold funds on any exchange and I'm still not.

I manage all priv keys used.

I believe you understand if I don't take your word very seriously only because you have had all our funds in hand from the day 1 but we do not see the gear that was promised months ago mining for us, not to mention that bitfury still has equipment in stock ready to ship over night. So....yeah.

And to clarify, the majority of the funds that were pulled in were when the bitcoin price was between $80-120, so the millions they'd be worth today was only a few hundred thousand. On top of this, equipment pricing was much steeper back then.

I'm curious about this. What are you trying to say to karusloom? The funds (bitcoins) were indeed worth ~$100+/BTC (upwards of $750,000 in total). However, you held the property invested and did not trade it for fiat. Also you had an arrangement with BitFury where you did not need pay Dave anything until hardware was actually ready to ship (not before). So, the bitcoins were in hand and increasing in value until shipments were ready. And since the projected hardware (based on what in-hand bitcoins you had) was quite large, and shipments have not since been discussed, there is therefore either (1) a LOT of bitcoins still be in hand, or (2) lots of unreported hardware. This is a potent argument for transparency - and I will not be surprised if/when people seek legal recourse to make all transactions a legal public record. Afterall, it is already established that you are dealing with other people's (investor's) property - rewriting the contract/agreement can't undo that.

smracer

donator

Activity: 1057

Merit: 1021

So LR are you trying to say that you put all your funds into BFL Monarch's and didn't order any more BitFury?

Spit it out.

I did the same thing. I am waiting on 60 Monarchs.

Lab_Rat

hero member

Activity: 599

Merit: 502

Token/ICO management

Quote from: karusloom on April 18, 2014, 02:56:51 PM

Quote from: Lab_Rat on April 18, 2014, 02:43:50 PM

Quote from: ICantThinkOfaName on April 18, 2014, 07:44:35 AM

Quote from: karusloom on April 17, 2014, 05:55:53 PM

Is it only me or ...., every time we read anything about Gox we hear a litle from Rat and now that Gox has filed for liquidation suddenly Rat has the documents in hand

I seriously hope that i'm wrong about this but may god give us strength if im right and all our funds are flushed and that 18TH is all we ever going to see.

Quote from: Lab_Rat on March 08, 2014, 01:52:10 PM

Mt. Gox did not effect LRM.

The trading platform is still being worked on. It's in Alpha testing, but it is not owned, operated, or affiliated with LRM.

I can assure you I wasn't stupid enough to hold funds on any exchange and I'm still not.

I manage all priv keys used.

I believe you understand if I don't take your word very seriously only because you have had all our funds in hand from the day 1 but we do not see the gear that was promised months ago mining for us, not to mention that bitfury still has equipment in stock ready to ship over night. So....yeah.

And to clarify, the majority of the funds that were pulled in were when the bitcoin price was between $80-120, so the millions they'd be worth today was only a few hundred thousand. On top of this, equipment pricing was much steeper back then.

karusloom

newbie

Activity: 27

Merit: 0

Quote from: Lab_Rat on April 18, 2014, 02:43:50 PM

Quote from: ICantThinkOfaName on April 18, 2014, 07:44:35 AM

Quote from: karusloom on April 17, 2014, 05:55:53 PM

Is it only me or ...., every time we read anything about Gox we hear a litle from Rat and now that Gox has filed for liquidation suddenly Rat has the documents in hand

I seriously hope that i'm wrong about this but may god give us strength if im right and all our funds are flushed and that 18TH is all we ever going to see.

Quote from: Lab_Rat on March 08, 2014, 01:52:10 PM

Mt. Gox did not effect LRM.

The trading platform is still being worked on. It's in Alpha testing, but it is not owned, operated, or affiliated with LRM.

I can assure you I wasn't stupid enough to hold funds on any exchange and I'm still not.

I manage all priv keys used.

I believe you understand if I don't take your word very seriously only because you have had all our funds in hand from the day 1 but we do not see the gear that was promised months ago mining for us, not to mention that bitfury still has equipment in stock ready to ship over night. So....yeah.

Lab_Rat

hero member

Activity: 599

Merit: 502

Token/ICO management

I just got off the phone with my lawyer. We're working on final editing and I hope things will be done. I've informed him of the importance, but I cannot force him to work on a holiday weekend if things are not complete and ready for release by days end.

The AMA has been scheduled for Friday 4/25/14 between the hours of 2 and 4 PM Eastern Time.

Lab_Rat

hero member

Activity: 599

Merit: 502

Token/ICO management

Quote from: ICantThinkOfaName on April 18, 2014, 07:44:35 AM

Quote from: karusloom on April 17, 2014, 05:55:53 PM

Is it only me or ...., every time we read anything about Gox we hear a litle from Rat and now that Gox has filed for liquidation suddenly Rat has the documents in hand

I seriously hope that i'm wrong about this but may god give us strength if im right and all our funds are flushed and that 18TH is all we ever going to see.

Quote from: Lab_Rat on March 08, 2014, 01:52:10 PM

Mt. Gox did not effect LRM.

The trading platform is still being worked on. It's in Alpha testing, but it is not owned, operated, or affiliated with LRM.

I can assure you I wasn't stupid enough to hold funds on any exchange and I'm still not.

I manage all priv keys used.

ICantThinkOfaName

full member

Activity: 146

Merit: 100

Quote from: karusloom on April 17, 2014, 05:55:53 PM

Is it only me or ...., every time we read anything about Gox we hear a litle from Rat and now that Gox has filed for liquidation suddenly Rat has the documents in hand

I seriously hope that i'm wrong about this but may god give us strength if im right and all our funds are flushed and that 18TH is all we ever going to see.

Quote from: Lab_Rat on March 08, 2014, 01:52:10 PM

Mt. Gox did not effect LRM.

The trading platform is still being worked on. It's in Alpha testing, but it is not owned, operated, or affiliated with LRM.

1247364403

newbie

Activity: 13

Merit: 0

I heard the Congress and SEC strengthen the supervision of bitcoins, we can directly call the police to arrest him for fraud. In fact, lab_rat cheated us of a lot bitcoins.

karusloom

newbie

Activity: 27

Merit: 0

Is it only me or ...., every time we read anything about Gox we hear a litle from Rat and now that Gox has filed for liquidation suddenly Rat has the documents in hand

I seriously hope that i'm wrong about this but may god give us strength if im right and all our funds are flushed and that 18TH is all we ever going to see.

smracer

donator

Activity: 1057

Merit: 1021

https://bitcointalksearch.org/topic/wts-21-x-bitfury-full-kit-85-th-in-hand-556154

How does this guy have 8.5Th of Bitfury gear mining for months and Labrat still has nothing? Did you actually order BitFury gear LR?

Did you order anything besides BFL Monarchs?

Did you upgrade the Monarch's to 1TH + 600Gh or did you get a refund from BFL?

What else did you pre-order?

sparky999

sr. member

Activity: 473

Merit: 250

Quote from: Lab_Rat on April 17, 2014, 12:37:22 PM

Quote from: sparky999 on April 16, 2014, 03:21:55 AM

There is literally zero chance missing this self-imposed deadline is good news for bond holders

My self imposed timeline says I'll be adding the business side of the document this week...... Where did I slip up?

And it also said SHOULD be done over the weekend. It wasn't done til late Monday so I'm hurrying to keep the timeline.

Jeez where do I start . . .

In this particular instance you said update by Tuesday, you did not appear till Thursday.

The real slip up was dishing out only good news whilst trying to sell more and more LRM bonds all the whilst knowing there was a legal issue which would/could result in bonds being capped at 300Mh/s. I could get past the total lack of clarity with regard to the financial dealings of LRM, the fact that you mislead people as to the pre-mining for two weeks when in fact for some equipment it was more like 5. Co-mining with equipment you supposedly bought with your own money that was to be transferred to LRM was a massive conflict of interest even if it does not fully qualify a slip-up, although to some it does. Extended silence and hiring a clearly incompetent or over worked lawyer( I hope it's the second but fear it's the first) etc etc etc

It's not even worth the energy to type any more to be honest, you think you've acted in a perfectly natural and understandable way - >50% of the bondholders disagree. It is what it is.

mufa23

legendary

Activity: 1022

Merit: 1001

I'd fight Gandhi.

Is this going to be good news?

ksenter

member

Activity: 90

Merit: 10

Quote from: Lab_Rat on April 17, 2014, 12:37:22 PM

Quote from: sparky999 on April 16, 2014, 03:21:55 AM

There is literally zero chance missing this self-imposed deadline is good news for bond holders

My self imposed timeline says I'll be adding the business side of the document this week...... Where did I slip up?

And it also said SHOULD be done over the weekend. It wasn't done til late Monday so I'm hurrying to keep the timeline.

You said you'd have an update by Tuesday and then disappeared until Thursday. You gotta stop doing that if you want people to lighten up on you.

Lab_Rat

hero member

Activity: 599

Merit: 502

Token/ICO management

Quote from: sparky999 on April 16, 2014, 03:21:55 AM

There is literally zero chance missing this self-imposed deadline is good news for bond holders

My self imposed timeline says I'll be adding the business side of the document this week...... Where did I slip up?

And it also said SHOULD be done over the weekend. It wasn't done til late Monday so I'm hurrying to keep the timeline.

Lab_Rat

hero member

Activity: 599

Merit: 502

Token/ICO management

I do have a document in hand, I'm still editing it. I said it should be completed by weeks end (meaning Saturday) and that is still the plan. He input almost all of the legal information and is working on a couple things to add. I'm working on adjusting the wording to better fit the Bitcoin community and adding in business information.

I was hoping to have a scheduled date for the AMA by tues and it still hasn't been scheduled. My goal has been to set this up for next week.

Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 67. (Read 452170 times)