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Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 99. (Read 452224 times)

hero member
Activity: 560
Merit: 500
What is the other US company you have in mind?
I will tell you "in two weeks"  Wink

BFL?

So far I have been BFLed, Goxxed and it looks as if I am about to be labratted. Compared to the experience with kncminer - well.. sorry can't even start comparing.

MtGox isn't a US company. It's located in Japan, the CEO (Mark Karpeles) is French and it's owned by Tibanne Ltd. was founded by Karpeles.

Yeah - I am aware of that crook being European. I guess we are in a painful maturity phase. A lot of 1st gen players will eventually go down.

Please don't take this off topic.
newbie
Activity: 38
Merit: 0
What is the other US company you have in mind?
I will tell you "in two weeks"  Wink

BFL?

So far I have been BFLed, Goxxed and it looks as if I am about to be labratted. Compared to the experience with kncminer - well.. sorry can't even start comparing.

MtGox isn't a US company. It's located in Japan, the CEO (Mark Karpeles) is French and it's owned by Tibanne Ltd. was founded by Karpeles.

Yeah - I am aware of that crook being European. I guess we are in a painful maturity phase. A lot of 1st gen players will eventually go down.
hero member
Activity: 924
Merit: 506
What is the other US company you have in mind?
I will tell you "in two weeks"  Wink

BFL?

So far I have been BFLed, Goxxed and it looks as if I am about to be labratted. Compared to the experience with kncminer - well.. sorry can't even start comparing.

MtGox isn't a US company. It's located in Japan, the CEO (Mark Karpeles) is French and it's owned by Tibanne Ltd. (which was founded by Karpeles).
newbie
Activity: 38
Merit: 0
What is the other US company you have in mind?
I will tell you "in two weeks"  Wink

BFL?

So far I have been BFLed, Goxxed and it looks as if I am about to be labratted. Compared to the experience with kncminer - well.. sorry can't even start comparing.
hero member
Activity: 924
Merit: 506
The only solution lab rat could come up with involved bond holders taking a hair cut.

Now the bonds are worthless the only thing left to do is drag this out and hope we forget.

Nice work lab Rat Wink



I'm not sure I get it yet. What hair cut?

Didn't they get converted to a fixed hashrate? Does this not make them almost worthless?

Isn't this a well laid out scam?





From the way I'm reading this. He will issue three bonds/contracts for each one bond/contract to keep the original investment on par with the hash-rate. If hardware is added, then he should issue more bonds/contracts to those with bonds/contracts. Clumsy but it works.

If he doesn't figure that out, then he will probably get sued. Give him a chance to clear this up before deciding on getting the ball rolling with that though.
hero member
Activity: 924
Merit: 506
What is the other US company you have in mind?
I will tell you "in two weeks"  Wink

BFL?
hero member
Activity: 924
Merit: 506
For what its worth, I get the impression LR is fully intending to "do right" by investors/customers - he is in a hard position and simply (in my mind) chose the wrong solution.

Compared to other companies LR has done very very well for us and after a brief personal exchange with him my genuine feeling is that it is his intention to continue doing so.

What is the hard position he's in? There appears to be more than one solution to keep things rolling as they effectively have been. Any of these solutions can be implemented. "Hard position" resolved.

What reason would he have to not implement them? He's already bound to his agreement posted on this forum. Nobody was ever sent a different contract to sign and return. And even if anyone did, that would only apply to that one person. As long as people are paid what has been expected from the start per what has been communicated by Zach, then there shouldn't be any issue...should there be?

However, if Labrat were, for example, to say he is capping original investments at 300MH, and not implementing a solution to sustain and grow that return...then... it's almost a certainty that he will get sued. There is enough money in this forum to afford a team of lawyers, and there are people in his area that will help do & serve the paperwork. Small investment to recover a lot. But if he's smart, he won't let it go that far.
sr. member
Activity: 294
Merit: 250
The only solution lab rat could come up with involved bond holders taking a hair cut.

Now the bonds are worthless the only thing left to do is drag this out and hope we forget.

Nice work lab Rat Wink



I'm not sure I get it yet. What hair cut?

Didn't they get converted to a fixed hashrate? Does this not make them almost worthless?

Isn't this a well laid out scam?



newbie
Activity: 38
Merit: 0
What is the other US company you have in mind?
I will tell you "in two weeks"  Wink
hero member
Activity: 924
Merit: 506
I guess that's what you get investing in US companies these days. Sad development.

What is the other US company you have in mind?
newbie
Activity: 38
Merit: 0
I guess that's what you get investing in US companies these days. Sad development.
hero member
Activity: 924
Merit: 506
The only solution lab rat could come up with involved bond holders taking a hair cut.

Now the bonds are worthless the only thing left to do is drag this out and hope we forget.

Nice work lab Rat Wink



I'm not sure I get it yet. What hair cut?
sr. member
Activity: 473
Merit: 250
For what its worth, I get the impression LR is fully intending to "do right" by investors/customers - he is in a hard position and simply (in my mind) chose the wrong solution.

Compared to other companies LR has done very very well for us and after a brief personal exchange with him my genuine feeling is that it is his intention to continue doing so.

So he does respond to emails, just not the ones requesting his lawyers details. OK, got it. Thanks.
sr. member
Activity: 294
Merit: 250
The only solution lab rat could come up with involved bond holders taking a hair cut.

Now the bonds are worthless the only thing left to do is drag this out and hope we forget.

Nice work lab Rat Wink

sr. member
Activity: 448
Merit: 250
For what its worth, I get the impression LR is fully intending to "do right" by investors/customers - he is in a hard position and simply (in my mind) chose the wrong solution.

Compared to other companies LR has done very very well for us and after a brief personal exchange with him my genuine feeling is that it is his intention to continue doing so.
hero member
Activity: 924
Merit: 506
Again I would like to apologize for this seeming like I'm randomly dropping this out of thin air.  I have had morality yanking on one arm and legality yanking on the other for the last 2-3 months.  This is not a new development, it is just becoming a finalized one though.
Does Grnbrg know?
Yes, now he knows. I think they will not be anymore best friends Sad
And if he knew...well the word "rat" comes into my mind.

He knew ~ a week ago and didn't sell his bonds behind the scenes.  He understands because he knows me well enough to know I wouldn't do this unless I had to.

After looking at the matter at hand, based on what you've provided, why would Grnbrg even in theory want to sell on this news? It's not like you are saying you plan to stop growing LRM, or that you plan to stop increasing dividends with the growth of company hash-rate.
hero member
Activity: 924
Merit: 506
Again I would like to apologize for this seeming like I'm randomly dropping this out of thin air.  I have had morality yanking on one arm and legality yanking on the other for the last 2-3 months.  This is not a new development, it is just becoming a finalized one though.

I don't understand. Where was there a moral vs. legal dilemma?

Legally, per documented oral agreements, you owe investors dividends that grow with the company. Nobody has been provided any legal documents produced by your lawyer. All that has been communicated is found in the forum. Some was on your website, but that has been modified greatly. The forum communication acts as an oral agreement, and it essentially translates to mean dividends per contract will grow with the company growth. And I don't think any bond holders actually care if you call them bonds or contracts or chicken-pot-pies, or whether you multiply to split bonds/contracts as the company grows to keep the dividend on par with the original bonds....as long as people receive the percentage that continually represent the same percentage of total mining hashrate per bond - as per the documented agreement in the forum - then I doubt you will get much of a complaint, if any.

Anyway, there is no moral v. legal dilemma found there.

Unless, you are referring to a kind of dilemma, like not communicating to people on this forum about stuff they would need (or really want) to know, but where you felt it was not ready officially.
sr. member
Activity: 476
Merit: 250
Lessons learned from last months:
 - Lab_Rat does not answer direct questions
hero member
Activity: 924
Merit: 506
Labrat. Please respond to these questions where answers are highly anticipated:

What is up with the 150TH order?

What is the current status of the hardware resources you've been working on? Were any bridges closed or burned?

Are you committed to LRM being an actual success?

Are you committed to keeping the spirit of the agreement you communicated and sold to everyone?
That spirit means you intend to continue to send out dividends in proportion to the growth of the whole company hash-rate, and maintain the same continual re-investment plan.
hero member
Activity: 924
Merit: 506
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