Ninjastic
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Post
Topic
Board Securities
Re: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement
by
BKM
on 08/03/2014, 23:02:51 UTC
Quote from: goddardnet on March 08, 2014, 10:51:47 PM
Quote from: Lab_Rat on October 02, 2013, 10:34:23 PM
Quote from: maqifrnswa on October 02, 2013, 02:59:12 PM
LRM's real saving grace may be that they claim to be selling hardware derivatives. Your security is (in the eys of the SEC) worthless; LRM promises you no rights to assets nor facevalue. It will only generate derivative income off of bitcoin mining and is only worth what someone else is willing to pay you for it.

My main reason of structuring like this.


Why does this still not hold Huh?

It may relate to Money Service Bureau issues as a mining consortium may fall under the MSB regulatory climate. If this is the case then all the assets of the company could be siezed and forfeit in which case we would be totally screwed. Better to shut down immediately and liquidate the company for asset value.

With regard to accounting - it is very important for everyone to understand that the value of BTC when you purchased the bond to now has changed. Your input value would have been accounted for in USD and exit values will be the same. BTC is simply a mode of exchange and regarded as something like a foreign currency. Money in money out. BTC is not money. All accounting records must be kept in USD. We are not in a Bitcoin economy, yet.