Why should we, as bitcoiners show such great respect for regulations which are unfair to us and pushed by people who are corrupted by lobbyist money?
This is extremely unfair. What if the US gov says that every bitcoin miner is now illegal and should be destroyed by burning in a big pile, will Labrat just pile them all up and burn them?
Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 83. (Read 452170 times)
March 19, 2014, 08:22:00 AM
March 19, 2014, 07:38:56 AM
Explain that to Labrat. Nobody would have bought the shares if they were static and didn't grow proportionately with hardware. Labrat never sold bondholders that agreement, and he knows it. And of course he knows we know he knows that (it's documented). This is why lawsuits have been a topic for the past couple weeks.
I'm not about to sue. That won't help anyone because the LLC would simply go out of business. Labrat has always been reasonable so i'm not sure what has happened. It would be nice to get some from of explanation.
I don't think anyone will sue if he maintains the spirit of the original agreement. The legal topics came up because the way it was sounding was that he planned to make bonds static. And some of his subsequent communication seemed to carry a bit of legal posturing defending any decisions. So, I don't blame people for discussing legal options - at least in terms of showing willingness to legally counter such a reverse on the agreement. If he did do that, the LLC going out of business might be the best thing, even if liquidating meant less of a return to investors. Nobody would want to see someone get away by dishonoring an agreement and then ending up wealthier off the backs of sucker investors.
Actually the ONLY thing that has been done so far is that the bonds are now static, in opposition to the original agreement. LR has stated that he will try and do "something" for the "original" bond holders, whatever that means... No more info from LR, period. Anything else is pure speculation, good or bad.
March 19, 2014, 06:53:04 AM
so will we ever get new infos?
You'll get all the info, contracts, hardware updates, etc. once labrat's lawyer finishes deciding the answers to all those questions. March 19, 2014, 04:27:26 AM
so will we ever get new infos?
March 18, 2014, 09:32:07 PM
Nobody would want to see someone get away by dishonoring an agreement and then ending up wealthier off the backs of sucker investors.
Also, there's great value to the community as a whole to throw someone under the bus to get these nebulous "Shroedingers cat" legal interpretations cleared up by firm court precedents so nobody can hide behind "maybes" any more.
March 18, 2014, 08:10:45 PM
Any hint of when we might get an update?
How is it possible that the lawyer has not been able to set out a brief summary of the key issues and the prosposed solution to share with us?
Perhaps remind the lawyer that it is literally part of his or her job - a very important part! - to meet deadlines set by a client. I am a lawyer, I should know. I imagine with the months already spent pondering these questions it would take all of an hour to prepare a memo.
How is it possible that the lawyer has not been able to set out a brief summary of the key issues and the prosposed solution to share with us?
Perhaps remind the lawyer that it is literally part of his or her job - a very important part! - to meet deadlines set by a client. I am a lawyer, I should know. I imagine with the months already spent pondering these questions it would take all of an hour to prepare a memo.
Brief summary of the key issues
We bought shares/bonds in a company as per the page one "non-document"(still waiting for someone to show me the actual agreement)
Lab rat changed the terms because of unspecified laws/statutes
Our share are now almost worthless and have diminishing returns to zero
Lab Rat's Lawyer advised him not to talk as anything he said could be used as evidence against him. Lab rat is heroically sticking to his guns and mining with the new equipment for his own gain.
How do we know for sure he has the new hardware yet? Vince is the only one that has informed us that that was the case. And I've heard contradicting back-end stories on this.
March 18, 2014, 04:37:40 PM
Labrat,
Are you upgrading all your BFL Monarch's to Imperial Monarch's or are you getting a refund?
If upgrading, are you then going to use the BFL vouchers and get free 600GH Monarch's (minus shipping) or are you going to sell the vouchers?
Are you upgrading all your BFL Monarch's to Imperial Monarch's or are you getting a refund?
If upgrading, are you then going to use the BFL vouchers and get free 600GH Monarch's (minus shipping) or are you going to sell the vouchers?
March 18, 2014, 02:32:10 PM
2-3 weeks after the new hardware order arrives lab rat will have a solution, but the solution will mean that back dividends can not be paid. Lab rat will vow to use those 2-3 weeks of mining income for re-investment in more hardware.
Just my prediction - let's see if i can go 2 out of 2
Just my prediction - let's see if i can go 2 out of 2
March 18, 2014, 02:26:33 PM
Any hint of when we might get an update?
How is it possible that the lawyer has not been able to set out a brief summary of the key issues and the prosposed solution to share with us?
Perhaps remind the lawyer that it is literally part of his or her job - a very important part! - to meet deadlines set by a client. I am a lawyer, I should know. I imagine with the months already spent pondering these questions it would take all of an hour to prepare a memo.
How is it possible that the lawyer has not been able to set out a brief summary of the key issues and the prosposed solution to share with us?
Perhaps remind the lawyer that it is literally part of his or her job - a very important part! - to meet deadlines set by a client. I am a lawyer, I should know. I imagine with the months already spent pondering these questions it would take all of an hour to prepare a memo.
Brief summary of the key issues
We bought shares/bonds in a company as per the page one "non-document"(still waiting for someone to show me the actual agreement)
Lab rat changed the terms because of unspecified laws/statutes
Our share are now almost worthless and have diminishing returns to zero
Lab Rat's Lawyer advised him not to talk as anything he said could be used as evidence against him. Lab rat is heroically sticking to his guns and mining with the new equipment for his own gain.
March 18, 2014, 02:23:29 PM
Any hint of when we might get an update?
How is it possible that the lawyer has not been able to set out a brief summary of the key issues and the prosposed solution to share with us?
Perhaps remind the lawyer that it is literally part of his or her job - a very important part! - to meet deadlines set by a client. I am a lawyer, I should know. I imagine with the months already spent pondering these questions it would take all of an hour to prepare a memo.
It starts to get even worse than bitcoin-24 in the past with Simon with the flow of information we get. How is it possible that the lawyer has not been able to set out a brief summary of the key issues and the prosposed solution to share with us?
Perhaps remind the lawyer that it is literally part of his or her job - a very important part! - to meet deadlines set by a client. I am a lawyer, I should know. I imagine with the months already spent pondering these questions it would take all of an hour to prepare a memo.
March 18, 2014, 02:22:15 PM
Explain that to Labrat. Nobody would have bought the shares if they were static and didn't grow proportionately with hardware. Labrat never sold bondholders that agreement, and he knows it. And of course he knows we know he knows that (it's documented). This is why lawsuits have been a topic for the past couple weeks.
I'm not about to sue. That won't help anyone because the LLC would simply go out of business. Labrat has always been reasonable so i'm not sure what has happened. It would be nice to get some from of explanation.
I don't think anyone will sue if he maintains the spirit of the original agreement. The legal topics came up because the way it was sounding was that he planned to make bonds static. And some of his subsequent communication seemed to carry a bit of legal posturing defending any decisions. So, I don't blame people for discussing legal options - at least in terms of showing willingness to legally counter such a reverse on the agreement. If he did do that, the LLC going out of business might be the best thing, even if liquidating meant less of a return to investors. Nobody would want to see someone get away by dishonoring an agreement and then ending up wealthier off the backs of sucker investors.
March 18, 2014, 12:30:31 PM
Any hint of when we might get an update?
How is it possible that the lawyer has not been able to set out a brief summary of the key issues and the prosposed solution to share with us?
Perhaps remind the lawyer that it is literally part of his or her job - a very important part! - to meet deadlines set by a client. I am a lawyer, I should know. I imagine with the months already spent pondering these questions it would take all of an hour to prepare a memo.
How is it possible that the lawyer has not been able to set out a brief summary of the key issues and the prosposed solution to share with us?
Perhaps remind the lawyer that it is literally part of his or her job - a very important part! - to meet deadlines set by a client. I am a lawyer, I should know. I imagine with the months already spent pondering these questions it would take all of an hour to prepare a memo.
March 18, 2014, 11:37:25 AM
Explain that to Labrat. Nobody would have bought the shares if they were static and didn't grow proportionately with hardware. Labrat never sold bondholders that agreement, and he knows it. And of course he knows we know he knows that (it's documented). This is why lawsuits have been a topic for the past couple weeks.
I'm not about to sue. That won't help anyone because the LLC would simply go out of business. Labrat has always been reasonable so i'm not sure what has happened. It would be nice to get some from of explanation.
March 18, 2014, 11:35:03 AM
So i'm not a big share holder here and i don't always follow this thread. It seems to me all investors bought shares in Labrat's LLC on the basis that he tries to run a profitable company. Please correct me if i'm wrong but now it seems we bought a number of mhs per share. To me that was never the idea. I'm not even going to start about tradeable shares but if all i wanted to buy was a static amount of hashing power i would have gone to cex.io. With an ever increasing hashrate (and therefore decreasing payouts) this investment doesn't make sense.
Explain that to Labrat. Nobody would have bought the shares if they were static and didn't grow proportionately with hardware. Labrat never sold bondholders that agreement, and he knows it. And of course he knows we know he knows that (it's documented in emails & internet archives). This is why lawsuits have been a topic for the past couple weeks.
March 18, 2014, 09:51:25 AM
So i'm not a big share holder here and i don't always follow this thread. It seems to me all investors bought shares in Labrat's LLC on the basis that he tries to run a profitable company. Please correct me if i'm wrong but now it seems we bought a number of mhs per share. To me that was never the idea. I'm not even going to start about tradeable shares but if all i wanted to buy was a static amount of hashing power i would have gone to cex.io. With an ever increasing hashrate (and therefore decreasing payouts) this investment doesn't make sense.
March 17, 2014, 11:52:16 AM
It seems to me that Labrat can solve all issues with one simple business change.
Define all hardware as hardware belonging to investors. And LRM's function is only to act as a hosting service.
Investors are actually customers. And LR can charge a 5% hosting & service fee.
Customers (formerly known as LRM investors) receive 85-90% of all minded coins and can then make the decision to send LR more of those bitcoins to purchase & install more hardware.
Simple.
After all, if I recall correctly, Labrat used the term "group purchase" to describe this business better than anything else.
Define all hardware as hardware belonging to investors. And LRM's function is only to act as a hosting service.
Investors are actually customers. And LR can charge a 5% hosting & service fee.
Customers (formerly known as LRM investors) receive 85-90% of all minded coins and can then make the decision to send LR more of those bitcoins to purchase & install more hardware.
Simple.
After all, if I recall correctly, Labrat used the term "group purchase" to describe this business better than anything else.
Another of many good suggestions.
March 17, 2014, 06:05:38 AM
It seems to me that Labrat can solve all issues with one simple business change.
Define all hardware as hardware belonging to investors. And LRM's function is only to act as a hosting service.
Investors are actually customers. And LR can charge a 5% hosting & service fee.
Customers (formerly known as LRM investors) receive 85-90% of all minded coins and can then make the decision to send LR more of those bitcoins to purchase & install more hardware.
Simple.
After all, if I recall correctly, Labrat used the term "group purchase" to describe this business better than anything else.
Define all hardware as hardware belonging to investors. And LRM's function is only to act as a hosting service.
Investors are actually customers. And LR can charge a 5% hosting & service fee.
Customers (formerly known as LRM investors) receive 85-90% of all minded coins and can then make the decision to send LR more of those bitcoins to purchase & install more hardware.
Simple.
After all, if I recall correctly, Labrat used the term "group purchase" to describe this business better than anything else.
March 17, 2014, 03:04:37 AM
Well that was tedious enough to encourage me to go back to cleaning a fishtank instead of procrastinating.
So much like a school yard at times.
So much like a school yard at times.
you cleaned fish tanks at school ?
What an odd thing to ask.
March 17, 2014, 01:01:08 AM
Well that was tedious enough to encourage me to go back to cleaning a fishtank instead of procrastinating.
So much like a school yard at times.
So much like a school yard at times.
you cleaned fish tanks at school ?
March 17, 2014, 12:56:22 AM
Well that was tedious enough to encourage me to go back to cleaning a fishtank instead of procrastinating.
So much like a school yard at times.
So much like a school yard at times.
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