You guys and dolls haven't yet figured out what the "legal issues" most likely are, have you?
Check the recent IRS rulings and FIN-Cen requirements, especially those requirements concerning Money Transmitters.
Yeah, we've all seen and read those requirements. To the best of my knowledge, none of them should warrant labrat from keeping us out of the loop. He's implying a different issue.
@mufa23, the idea that LR is just recycling the bitcoin originally acquired through IPO into dividends seems extremely unlikely IMO. There would have to be an accomplice selling him recently mined coins and letting him use the stats feed from CEX.io (which just jumped to near 23TH... that seems promising). That seems like an overly complicated (and expensive) way to scam. But I suspect you don't really think that, just making a point that pictures of the hardware are long overdue. Which I agree. I was really looking forward to pictures once the first batch of bitfury equipment came in.
Not all that expensive. 23 TH/s isn't that much... I am personally mining at a few Terahashes myself with about
BTC10. Those Antminer S1's are worth the investment. Granted of course, they probably costed a few extra Bitcoin per unit back in December. But lets say he paid top dollar. Real wild example, so bear with me: You can reach 23 TH/s with 46 of BFL's old 500GH/s (the ones that costed a little over $20k back in the day). That's still only a small portion of the Bitcoin we've given him.
Exactly this. There is absolutely no legal reason why we can't be made aware what the issue itself is. There is no reason for the statements like "I'm talking to my lawyer about
stuff" (not a real quote, but just the idea around it). We don't necessarily need the solution, but the description of the problem would be nice. It is complete bullshit, imo, that we still don't know exactly where the issue lies. Fortunately for labrat, my husband has been on vacation during this time and I've taken a breather. That time is not infinite. With the lack of value left in the shares, there is very little to lose by asking government agencies to look into the legality/execution of this project. I do believe we have passed the acceptable time frame for "my lawyer is sick", "my dog ate my homework", "my aunt died" and "I'm working on it". . . .and then some