Labrat has stated in the past he has opted for a refund from BFL.  I am assuming he bought around 60 monarchs and should be getting around 500BTC+ refund.

I would like to start a petition to distribute those coins to the investors and not use them to buy more hashrate that will just go into Zach's pocket.

ouch.  today's payment was disheartening.  

Seemed about 4x what it has been. Can only guess that relocation/postponement has given the "bonus" fund a reprieve from legal fees for a short time.

Well, then you should not detest us for what we are going to do.

Please note that the definition of spam is unsolicited commercial EMAIL.

We are not emailing.

@countduckula:  Brewer's yeast has a similar take on success.  Given a limitless amount of sugar, It eats it and multiplies as fast as it can...
...while shitting ethanol, which inevitably kills it, giving us delicious booze.
I hope the Bitcoin community is smarter than yeast.

Back from my week away and 3 hours after I get back, got into a pretty bad car accident.  No one was *seriously* injured.  Just a broken thumb for me and a bit of whiplash for everyone.

I'll try to answer the questions I noticed real quick though. (not fun typing)

I have yet to have invested in anything BTC related where this wasn't the case.  :sigh:



grnbrg.

This weeks payout is only 2.5-3 days worth of mining as a payout was made on Wed.

Next week will be a full 7 with a hopefully chunky bonus!!!

Mined BTC: 2.14294572
Per Contract: 0.00001215

To anyone concerned about FinCEN, my lawyer has deeply reviewed the subject to the point of making calls to DC and has determined that with the moves we've made, we are 100% in compliance.  We will continue to monitor the situation as we all know it could change at any moment.

Good to hear from you LR.

Let's see how long it takes for people around here to punish you for breaking your silence.

If you'll notice from the spreadsheet I just posted, LRM has now paid out over 1500 BTC in distributions.

Hello all,

Distributions are going out with this post.

The payment you are about to receive is for the previous week as well as the days between May 24th and today (11 days ending May 28th.)  This payment is for a completely up to date list in terms of ownership and regarding new or old contracts as of today.

I'm going to start this post with a brief update on the build out of the most recently received hardware.  The build out did not go as planned by any means which resulted in plenty of lost coins and added expenses.  The datacenter owner was unprepared for the heat and power consumption drawn by this equipment on a large scale.  Although there were major delays in hardware installment, he is not solely to blame.  There was miscommunication, a transformer failure, AC issues, and a cut fiber line that resulted in additional lost time and revenue.  In short, the hardware has been moved this previous weekend to a different and 100% reliable hosting location and is already at the max which is 40% over the previous max hashrate up to that point.  Unfortunately, this move had the hardware down most of the week, and additionally cost a significant figure in fees and moving costs.  This will result in no bonus this previous week or coming Saturday to recover the company's expenses.

The great news is that from here on we are exactly where we should be and bonuses should be increasing and a little more stable.  To boot the BTC price rose $100 a pop as well!!!

I will be giving more frequent updates and being more transparent whenever possible going forward as some of the major issues are now out of the way.  This will give me much more time to focus on contract holders and the growth of the company again.

This weeks (11 days) distribution details:

BTC:11.81682227
BTC / contract: 0.00006700


This does mean the upcoming payment will be low as it's only a few days worth of coins, but I think we'll all be very happy with the following payout!

-Lab_Rat

Well I know as much as being confirmed in that list and also seen in that doc you provided I am confirmed and also moved into new contracts. How big is each contract going to be as this is confusing and looking at it old is 300MH and new is 100MH per contract. What one does one get if moved over. Do I get new or old as it is not clearly outlined

Have their been any updates regarding moving forward. I followed instructions in email and got confirmation I was confirmed. Is their a new site with details on or is it the same old site and updates and details can be found on it etc??