Quote from: mmmerlin on April 25, 2014, 08:18:24 PM

Quote from: Mindsync Miner on April 25, 2014, 08:15:02 PM

Quote from: Lab_Rat on April 25, 2014, 07:52:16 PM

Quote from: rustyh17 on April 25, 2014, 07:37:44 PM

Would you submit LRM financials to a third party audit paid for by contract holders?

There are no contractual obligations to do so, but if in the future we deem it necessary we will consider it. I DO have a CPA overseeing my books, including BTC wallets.

I understand you have closed the AMA. There is a glaring outstanding question raised by this particular answer.

The new contract specifies a discretionary (read optional) bonus payout per contract, however, that bonus payout will be completely on the honor system without any third party audits.

As was stated earlier even if there were an audit said funds could be diverted to new shares, LR's pocket etc. on a whim.

An additional question is: How has any of this restored faith in LRM or it's contracts?

The price per contract has tanked and unless bonus payouts are both plentiful and consistent I see little hope in recovering more than a fraction of initial contract costs. Additionally anybody buying existing or new contracts would be foolish to value them as worth anything more than the 100 MH/s since the bonus is completely discretionary and can become zero at any time.

That is all correct, plus we don't know how much hardware is incoming, even in the current BitFury shipment, as the AMA was closed just before my question re-asking this. It is, however, almost a moot point, as neither contract entitles bondholders to any of the proceeds from that equipment.

Many questions remain to be answered...

That is how i read it... the hashrate we have in equipment now is all we will ever get... all this new Bitfury equipment WE PAID FOR can only be reaped by purchasing more bonds... essetially LRM will be mining with it all for his own pocket except that portion that someone else pays for as they buy new contracts. WE PAID FOR THAT BITFURY GEAR, IT IS OUR HASHRATE AND LRM IS FORCING US TO RELINQUISH IT TO NEW CONTRACTS ONLY.