Bitcoin Forum

Dear Bitcoin Community,

We are a new venture involved in the research and development of a novel Bitcoin mining technologies.
Our brand name is labcoin and our website is http://www.labcoin.com.
The management company is named "iTec Pro Limited" - Hong Kong, legally and officially registered in such jurisdiction.

This is initially a self-funded venture, so this thread is not meant to sell "pre-orders" or the likes.
Rather, it is  a mean for the community to evaluate our work and plans for a eventual, future second phase, when we will open investment opportunities to the public.

I won't post many images of IC and similar here, as a fair number of details can be found on our website, once again, our url is http://www.labcoin.com.

We look forward for constructive feedback and criticism. You can contact us with any question at info@labcoin.com or post in this thread. Thank you sincerely for your time.

Note : the pictures shown on our home page are just 3D renderings of possible case and board design and they do not represent real products.

Samuel Noi
Nominee Director
iTec-Pro Limited
sam.noi@labcoin.com

reserved

reserved for Q/A

You are too fast  8)

can you please share what's your NRE cost for 180nm process? Just curious if an opensource asic could be crowd funded?

Sorry, some typos here and there, will be fixed shortly. Thanks for the head-up. I clearly meant feature size.

I'm not one of the engineers but i'm in charge of creating the text contents you are reading, so you may encounter some small quirks like that one, the text will be fixed properly anyways in due time.

EDIT : Fixed all instances of the typo.

Cheers

interesting, I am watching  ;)

Awesome cheers :)

Sure. Since we're avoiding most EDA tools licensing costs and going for a MPW process through University channels, our costs are in the figures of 120.000CNY for a test run of chips.

EDIT : 120.000 CNY are about 20.000 USD

Cheers.

comes up to $20k only for a test run, that is quite reasonable, if that is successful you could well design and do wafer and go for chip productions?

Interested.

Yes, it's not including engineering costs too, which are in the ballpark of 10.000 USD, and yes, that's the plan, 180nm full wafers are still affordable and we have good funding.

Cheers

Thanks, i think i've just mailed you because you expressed interest when we posted in the newbies section. Cheers

what's the target price for your products? or Hash rate/$?

We won't yet talk about 'prices', but our cost is about 18~20 USD/Ghash for version 1, still just an estimation. Take it with a grain of salt.

Sounds good, I be keeping a watch for news about you guys :)

This is great news. Can you give us more information in regards to investment opportunities? Will you be mining and selling hardware?

http://www.labcoin.com/presentation.html

"We will use deploy half of this hashing power for private use and re-sell the remaining stock of ICs in the form of high powered 'blade-like' devices.
Income generated will go toward the completion and tape-out of the version 2 IC. We will also evaluate the possibility of offering shares of the company to the public."

Following.

also very interested  :o
and love to visit factory or R&D facility (if in China) when possible.  I will be in China mid/end of October.

Good luck in the development

Interested. We need some more real players.

Very interesting. Looking forward to following this project's development.

Interested as well. We need more (serious) players and until now you sounds pretty serious -)

Thanks for the interest so far. We will keep everyone updated about our progress.

Samuel Noi
labcoin.com

Can I buy ur product in HK ?

hi,
how close are you in producing your version 1 chip? Is this the chip will be launched in Aug/Sep 2013?
Or you plan version 2 chip for launch for this period?

Watching..

18~20 USD/Ghash is in line with estimates from Bitfury/Metabank (~16 USD/Ghash) and KNCminer (~20 USD/Ghash). Of course yours is a cost estimate and theirs is based on actual price. Like Avalon vs. BFL, timing will determine the winner.

Very interested in this. Good Luck.

I am in Hong Kong so look forward to seeing a HK player developing the local scene here!

ga yau!

Reserved

But your company & Asia Bussines same address.
http://www.asiabs.com/english/english_contact_us_hong_kong.htm

Explain please

awesome! always good to see new players coming in. anyway keep your design simple guys and don't overstretch yourselves trying to win race in how advanced and latest NM technology you should have.. start with cheapest and fastest route to market which seems to be 130nm so far and once you have the lead sky is the limit. i'm sure most of us here don't care how ugly the board looks like as long as it hashes and stable... If you look at BFL it just got itself way too overstretched trying to win NM die size race...

Asia Business is who registered our legal entity in Hong Kong and included in the price of company registration you do get a a mail forwarding service, normally you use that for correspondance, until you find and buy/rent your office space.

Thanks for your input.  Our main priority now is finalizing the design and put the ICs with a 180nm feature size in production.

Who or what is the European part of this company ?

+1

Also, will you actually sell hardware (blades) or shares? Not sure I understand...

The management, and a member of the technical team specifically.

The business model part mentions that, this is a decision that has not been yet taken. It depends on many still "unknow" factors.

EDIT : Further elaborating  with this bit from our website :

"At the moment we are able to fund a first test run of version 1 IC and continue development of version 2.
If v.1 IC test run is successful, we will purchase a run for 100.000 ICs which should yeld about 30 TH/sec in total.
We will deploy half of this hashing power for private use and re-sell the remaining stock of ICs in the form of high powered 'blade-like' devices.
Income generated will go toward the completion and tape-out of the version 2 IC."

The "unknow" factors, refer to the success/failure of first 180nm test run, on the success of which, depends a further, bigger run of ICs.
We still need to iron out some quirks with the preliminar design before we can safely go on tape-out phase, so you should get what i'm talking about, there are many 'chained' events which depend on each other success before we can achieve significant results and talk about selling devices or shares.

Nice - I will be interested in both options but if you ship from Asia (I live in Europe) maybe better if I have hosting/shares option.
Good luck anyway!

Just watching, too.

BUT Newsletter would be really nice, just to not missing sth. out. :)

Thanks for your input, we will be rolling out a newsletter in the next few days. Cheers!

Can you reply my pm please. Thanks ;)

Ouch, i must have overlooked the PMs, i have a bunch of them. Going thru'em  right now, sorry.

You better be prepared to answer a lot of questions just to let you know a head of time. would you have an open day to visit your facility and show case your Asic Miner? Do you plan to have STOCKS on hand before taking order? What payments options do you plan on having, paypal, credit and debit cards, STP, Perfect Money, Payza, okpay, bank wire, bitcoin, instalments plan?

so one more to make an asic

that s interesting but your partner is little bit arrogant one

i do remember to have ask him to give me an advice/help on one vhdl design my tech wasnt able to synthetize and this guy have replied as if it was only the one who will be able to achieve anything

but anyway world is large and there is space for anyone even for arrogant people

How do you avoid the cost of EDA tools?

did he say he is using some university facilities to reduce costs, since his development costs is minimal
hope he give us much cheaper price than others ..? most of us has already spend our very little funds available
on Avalon, Butterfly, Bitfury, Kncminer --- what is left?

You mean his European or Chinese partner is Arrogant? would you mind to share a bit more

the guy who hold the theseven as nickname

he actually has a project but never took off http://www.fpgamining.com/?

Let me get this straight! It took you 14 posts to try to get outta Newbie hell over a period of a month, when it can be accomplished in 5 hours, yet you're here to convince us that you have the next best thing to help protect the network, and all we will accomplished without a hitch. Golly gee, I'm all goatse!

Now, I have to read this thread to see if it's warranted to stick it up your ass--further!

After reading your first 15 posts, I'm pretty sure we're dealing with a kid here, someone with the same mentality that would propose starting a Bitcoin Town.

We are well prepared, i've replied to your email as well. We will have an open day in our offices and will show up prototypes of technology at work, once it is ready.
As i said earlier, we surely plan to have stock before taking ANY order. Regarding payment methods, maybe the question is still too early, but i will try to respond  :

1) Bitcoin
2) Bank Wire

Paypal is just outside our interest. We want them to sink, not finance them further.

Just starting reading this thread, and stopped at the very first word.

Dear! Seriously? To think I penned goatse, above, as a joke. Surely a reach around will be in order once I get to the end of the OP.

The usual troll visit. Well, i will reply to your childish accusations, we just didn't have any hurry to post here, that's why we patiently waited to get out the newbie section.
I work on the PR side of the business but i also act as a coordinator of the technical team, so i don't have much time to use on the forums.
Also, your language is pretty 'much out of context'. Your intervention here just brought the conversation to a low, unexpected level. I wouldn't add anything else.

Our Bitcoin Asic Chip investigator is here, be prepared for his in depth coverage glad to know he is here, he sure will dig up a lot of background information of this company. The who, the why, the where, the proof, etc. ;D

Would you please stop speaking non-sense ? is this forum really populated with crazy individuals ? i'm not even getting what you're talking about.
Please put a stop to this or use proper English / Human communication.

Oh god, investigator... Please let us work and put a stop to this absurdity.

I wouldn't call Phinnaeus Gage a troll or newbie, look he has an activity level of 742, joined june 16th 2011 versus yours may 18th 2013? he is a very respected investigator, a golden treasure in this forum. ;D

Yes, we're going through an university channel to avoid EDA licensing and getting better MPW rates.

To proof your legitimacy we need Paypal and Credit Cards payment full stop.

You are probably confusing him with someone else, i don't think Howard have posted anything regarding labcoin on any internet venue, let alone arrogant stuffs.
The guy who holds theSeven as a nickname is a serious professional which contributed to the open source FPGA bitcoin miner.

To prove our legitimacy you will need to come to our offices in China and check out the prototypes. As I said earlier, we are not sure if we will sell devices, and we WON'T DO PREORDERS.
We will be opening opportunities to the public, but to mid-sized investors probably.

He knows exactly who I am, albeit referencing me as troll is off.


Tell us again how you patiently went through the Newbie process. Have you read your first 14 posts lately?

Allow me to paraphrase:

Let me outta here!
How do I get outta here!
I want outta here!

I believe the questions are going to get a heck of a lot thougher but, then again, you know the drill. You know exactly how this forum operates, so no need to cry to mods.

I missed this. If you are here to create hype for your products, why discuss this project here at all if you are not offering it for sale ?

Am I missing something ?

I can certainly appreciate that you are trying to create a new SHA256 ASIC, but not sure of your intentions with posting this thread now.

I apologize for calling you a troll, your first post didn't approach us in a kind way, you must admit that.
After days of waiting, since i didn't know the 'Total time logged in' counter depends on activity rather than just time, i grown a little frustrated.
Then i proceeded to post some duplicates of this message on the Whitelist Requests (Want out of here?) :

-----------------------------------------------------------------
June 16, 2013, 11:26:44 AM
Dear Administrators,

Requesting to be whitelisted to post important updates about our ASIC project in the proper sections.
We are not taking any pre-orders or any kind of up-front money and do not need any kind of financing.
Nevertheless,we believe our announcement will be of some interest for the community. I will add a teaser :

We will be giving away some (limited amount) free USB devices similar to Block eruptors USB of ASICMINER in early,mid August.

Thanks for your attention

Samuel Noi
CEO
Labcoin Limited Hong Kong
http://www.labcoin.com

-----------------------------------------------------------------

Do you still think we are doing something wrong here ?

Cheers up!

From our initial post :

This is initially a self-funded venture, so this thread is not meant to sell "pre-orders" or the likes.
Rather, it is  a mean for the community to evaluate our work and plans for a eventual, future second phase, when we will open investment opportunities to the public.

So...how does one get on the list to be a tester of the USB device you will be giving out in August? Would love to be one of the few, have lots of video equipment and am willing to document everything. :)

Mail us your interest to info@labcoin.com. There will be a limited number so be sure to shoot  a mail right away!

Cheers

watching this...

http://www.linkedin.com/company/itec-pro-limited

http://farm4.staticflickr.com/3821/9120915787_45be23ac01_o.jpg

Is this the same iTec Pro Ltd. from 2004?: http://ieeeexplore.com/xpl/login.jsp?tp=&arnumber=1260644&contentType=Journals+%26+Magazines&url=%2Fxpl%2FarticleDetails.jsp%3Freload%3Dtrue%26arnumber%3D1260644%26contentType%3DJournals%2B%2526%2BMagazines

No, we have incorporated in Feb. 2013, while the labcoin experiment has been active since september/october. Here follows our certificate of incorporation :

https://i.imgur.com/qYw7Maf.jpg

 Derp ! Thanks for the clarification. Good luck !

with only 34 postings and sign up in may of 2013 how much of a claims do you have? now with members asking a few more questions you tend to throw up in saying you only would sell to private investors? not for the general public? are you scare or try to hide  something from us? ?

I've just over reacted a bit when i saw 'what-looked-like' accusations and bad slang. I do apologize for that. I'm trying to clarify each and every point that is being asked, except those for which i can't really give a definitive answer yet.

Kncminer was grill to the bone of over 100 pages of postings before they proof themselves somewhat legitimate . you better show some patience and be cool and answer respectfully and not like butterfly Josh/inaba who curse and swear because of all the not so positive postings on his business practices.

Have you ever seen a StarFish in the hallways?

You are right. I just want to add that i didn't insult anyone, the farther i went was calling P.Gage a troll, for which i've gave an explaination and apologize.  It is our intention to keep this conversation professional and as respectful and fruitful as possible. Thank you.

Can I take a stab in the dark and guess who your investor is?

Yes, that's AsiaBS - http://www.asiabs.com/ - Hong Kong company formation services - address.
We have yet to settle down on a physical location, while we have a lab located in Shenzhen, courtesy of Tsinghua university.

Oh no, no strange plots of weird stuffs like that, i gave you a fair explaination ( again because someone already asked clarification about that earlier, are you actually reading the thread ?   ???). Read my post, that company (asiaBS, which corresponds to that address) is just the most popular incorporation agency in Hong Kong and acts as a mail drop service too. There's nothing suspicious in this. Many companies in Hong Kong that operate in a offshore fashion share that same address.

That was excellent advice given. You are more than welcome to stick it back up my ass as long as it's done professionally. Adding a little humor at my expense also helps.

I truly wasn't offended with the troll post of yours. I used it to drive a different point home at the time.

I do want to apologize to you though for coming on so strong at the onset of my postings on this thread. I hope you understand that a many ASIC scammers came before you (you know what I mean), therefore guards are up.

We can all concede the address thing.

But I did run the image through one of photoshop detection thingies, and it said there's a mustard stain...  ;D

Later, bud.

PS: Are you sure there's no starfishes in the hallways?  ;D

We totally understand your concerns, as we are watching from the sidelines since a while now and have seen the parade of scams. Better safe than sorry. I will continue providing consistent updates to this thread for you to evaluate our conduct and progress. You do not need to apologize, i responded to you and we settled it down. Cheers up mate.

Great, bud!

Welcome to the site.

You passed.  ;D

We sure labcoin will be prepare to answer all our concern members after all we surely need good competitors with good prices with the difficulty increasing and hash rate getting higher we need something more affordable.

eheh, i'm curious to know which kind of mustard is that  8)
 you can look up http://www.hkent.biz/1866914.html or ask directly the Hong Kong Chamber of commerce.
I appreciate your dedication. indeed.

Later!

See when I first logged in. What does this make me? More important than you or anyone else?
Childish criteria...

18-20USD/G seems very reasonable, but price also depends on the date of delivery.
Also, will you open pre-orders?

Actually i like the fact that they announced it here. If they didn't we would wonder why the sudden increase in hashrate from "Unknown". I think knowing all or most ASIC players is a good thing. Also the fact that they won't accept money for pre-orders is another good thing.

@labcoin When do you expect your first chips in hand and when can we expect some kind of prototype? How fast will you go for the v2@65nm and will you use University channels there too? If not then you need some kind of fab relations to put you in the line.

i m exactly talking abt him

FYI, there is a law against selling pre-orders in HK! was just enacted recently :P

Something about selling stuff that is not yet invented or not deliverable within 40 days, i can't remember the specifics...so i am guessing no on the preorder thing.

Thank you! Glad to get your personal welcome  8)

No we won't accept pre-orders at all.




We do expect the first version 1 chips for early August and shortly later a working prototype, and the plan is to tape the version 2 @65nm outside university channels.

Why the flame?

What's so fraudulent in this venture? They said that first run will be funded with their own funds. No preorders, no gimmick.  How sure are you? Willing to offer 50:1 on bets?

This is the best pre-emptive answer labcoin could have possibly provided.  Why would anybody demand paypal?  By this statement alone, I will give them the benefit of the doubt.

NO COMMENT.

EDIT : Haters gonna hate. The terrracoind was for internal tests with our pool of Avalon machines.

and how many avalons do you have? any stats, pictures etc?

 To their credit, they are not accepting pre-orders or soliciting any funds. How do you figure this is a fraudulent venture when no-one here has been defrauded ? Yet.

 You are justified in being wary, but throwing around the word "fraud" at this point is not appropriate.

 Ugh. I might recommend not making posts like this :( It won't go well with this community if you want to be taken seriously at this point :(

We own and run several machines. checkout the team labcoin at btcguild ;)

Well, i know that's ugly, but that guy ran a portscan on our web server, found there a running terracoind instance and hence assumed we're scammers. It is pure logic, isn't it ?

 I guess haters are gonna hate indeed if he did a portscan. Ugh :( Welcome to the Bitcointalk forums :( The Mos Eisley cantina of the Bitcoin world...

aren't these your avalons? http://imgur.com/Eg7IlOw

and what is role of Fabrizio in this venture?

Yep. they are.

Fabrizio Tatti is the majority shareholder and CEO of iTec-Pro Limited actually.

Cheers

Right, but i could have stopped the daemon meanwhile. Also, why it should be a problem in first place ?

Cheers

I'm surprised you gave honest answer  :) . I can see you are at least actually in location, and have not (yet) gone down route of asking for public preorder or investment request for early birds, So I will give this 'trolling' a rest and just keep eyes peeled.

Interested.

What is the relevance regarding their ASIC project?

@labcoin i don't know if you are familiar with this community, but you need to be prepared for all kinds of requests and accusations. even if you are good intended you will need nerves of steel or just a huge amount of ignorance. anyway i wish you good luck with your project and don't forget to keep us updated.

Transparency is, and will remain a key point in our conduct.

Come on, we just tested that terracoind (and others) with the avalons, and left it there, again it was just testing ... there is NO relevance to the project this thread is about.

Dude don't trouble yourself with 'Bitcoin Megastore', he never has anything positive to say, ever. He trolls these forums slating every potential ASIC manufacturer trying to defame them. He presumably has funds tied up somewhere, it's not in creating a megastore though...

Don't mind Bitcoinmegastore, he is little but a full-time troll these days. I guess when people stopped buying his bitcoin swag he just sort of lost it..

Riiight....my qualifications seem to suggest otherwise though. How's the megastore going?

EDIT: It's also worth mentioning that my 'positivity' stems not from a delusion of living life through rosé-tinted glasses, but by the fact people are more open and opportunities create themselves more frequently to those that share a sunny disposisition and are proactive, you should try it, you may avoid the ensuing barrage of abuse directed at you after everyone of yout posts. That said, I'm nobody's fool, hence a current 100% record of calling out scams here. Labcoin appears to be holding his own quite well currently...

They can test whatever they wish to test. You still haven't answered me. What's the relevance to THIS project? If they can deliver a working ASIC chip funded by their own money i don't care what they test or what they or what are their fetishes. I'm only interested in the ASIC chip.



Did retard Inaba gave you some PR lessons?  Where is the constructive criticism? Where are the relevant questions?

Alright guys, point(s) taken. let's not derail the thread too much   8)

You are just a trolling moron with a fledging "business" selling cheap bitcoin printed crap that apparently spend your entire day "debunking" whatever you consider scams. I feel sorry for you, and your obviously miserable existence.

Yes agreed, some of this troll you need to ignore them, they come here to vent their frustration and let go of their hot air. it means that they need to hit on someone to make themselves feel better.

any news? no news is good news? or good news is no news? ;D

The news is it's going to be a while before we hear more news of this in-development project.

The latest price for 1GH/S has dropped to $17 for 1gh/s. I heard other competitors are also lowering their prices and the latest news could be you only need to pay half or a small deposits and the balance will be pay to them from your mining hardware, that would be fantastic. You pay $100 and balance of $2900 let say for a 150gh/s Asic Miner the supplier / manufacturer / assembler will keep your Miner for a few days to mine and testings and when it reached $2900 in bitcoin they will return the Miner to you.

Then why woulda you order a miner to begin with? And who would sell it? Makes no sense at all.

not affordable and they will be some who have this payment plans. reach out to the masses and not be Greedy

What is the possible motivation for a company not to maximize profits? I'm pretty sure that there are no "pro bono" companies in ASIC development. Besides, if they have the funds to build and mine, they would have to be halfvits not to do that instead of sell the equipment if its wildly more profitable.

Good news that more competer join this game.

yes agreed we need more competitors in this game. we need asic developers who makes the miner to take risks don't passed all the risk to your consumers.

won't be surprise when 1gh/s goes down to $12 or $10 competition is good !!

Why bother with 180nm technology?
Or 65nm technology for that matter?
Why would a chip / bitcoin miner manufacturer buy Avalons?
It just doesn't pass the sniff test.

They are not taking pre orders and only open up orders when they have stocks. why worry.

More players in developing the Asic Chip will help to lower down the price per gh/s. The next batch of suppliers should target $15 and below per gh/s. They get to sell more units and decentralized bitcoin mining.

A busy week passed and some messages and emails piled up. I apologize but i will get back to everyone during the weekend.

As announced on our home page, we are hiring additional workforce.

If you are skilled with HDL optimization, Verilog / VHDL, circuit design and verification, shoot us a mail right away with your CV at info@labcoin.com

Candidates with previous experience with FPGA bitcoin mining projects are preferred.

We will be posting soon very important progress.  

Hong Kong now involves this. Let see if it is real. If possible then do the required . However the time may get longer......

Just like kncminer.  If there is something not ready, or no steps, they won't open the orderbook for people.

yes will be real cool if they only sell when there are stocks available, next day delivery upon payment kind of thing

What a hell of a miner would that be to mine $2900 in a few days! More like is months! Suppose the miner is earning that money in just a few days, why would manufacturer rush to ship it to you? Keep it another 'few days' and double the earnings.
And then we are in that same waiting game again.

I suggest you create a mining pool account for them to mine and you control the account every day you know how much you make and when they are enough bitcoin you just have to pay them off and they shipped you the miner.

jjaajajajaj
Do you think they are going to build a miner from $ 3,000 for you for $ 100? They get to work the device to recover $ 3,000 then they will send.
Let's see I'm not mistaken.
Estimated that the cost of each device is $ 1500 included NRE
They put 90% of the investment for you. Once recovered the investment + profit. They sent the device.

If you send are fools.
If you believe they sent is ......

They will be some who agreed to this setup and not that selfish or greedy like you. share the wealth they are after all only for this life.

I have dealt with more than one Asian manufacturer and customer care is the worst I've seen.
Nobody invests to give the devices. Do not say that you have been scammed in five months.

But you are more skeptical with other projects. Why not this?

https://bitcointalk.org/index.php?topic=158044.msg2601915#msg2601915

There is a team labcoin in btcguild hashing 117 GH. Is that yours? (If yes,How many many machines are hashing)

http://www.btcguild.com/index.php?page=rankings&section=teams

Great to know that Labcoin keep stocks and only will sell when they are stocks. Order today next day deliver.

with no doubts :D

When can we get more detailed information in regards to an IPO on the mining farm?

really wish they have a more attentive PR guy? like this one is sleeping or has a full time Job that work from 7am to 12 midnight and no time for this forum stuff or they don't need our support? no updates, no newsletter, no reply to messages " what is going on "?

labcoin, please post more updates. too many of the pages are filled with wasted arguments and nothing of substance.
i for one am interested in your updates.

got an email from Labcoin:

That is an Auto Reply Template, nothing much. Worry how good is their Support??

Interested to see if this actually pans out to something.  At least the website seems legit  ::)

with the price of bitcoin at $88, they need to price their hardware at less than $12 per 1GH/S or else who is going to buy from them?

Sorry, but i don't have much time for the forums yet. A mailing list has been built and will be added to the site tomorrow, contextually with an update.

I have just finished a conference call with the Chinese team, we are shifting strategy from our initial plans, in light of the latest ASICMINER news.

Expect a very important update tomorrow.


Labcoin Team

What news would be that? Let me guess, move out from China, stop selling shares or ??

Getting interesting though.. ;)

We have to admit your customer service is slow I meant your reply to our questions and concerns. If you have a full time Job working 16 hours a day that we will understand, but if you are not a technical person why can't you show up or reply once a day?? Europeans serve their customers very well compares to those from the East, I am sure you are from the Western World.

You will learn the news tomorrow, it's really late and i'm heading to sleep right now. I work 'round the clock to keep up with all the time differences between the teams... I understand your points about customer service, but this is not customer service right now. I'm merely posting updates about the project. Stay tuned for tomorrow update. Thanks for your intervention.

Ok have a good night, 4 to 5 hours of sleeping time is more than enough. By the way you don't have to sleep that early , we are up till  3am or 4am everyday before we call it a day. Anyway  Wait for your good news?

Great and Awesome News, Now it is 12$+ per GH/s and could go down to 10$ per GH/S soon. Cheers to more reasonable pricing.

Where did you see this news?

+1

As promised, here is an important update about our progress, and some changes to our initial plan.

First thing to say, while the team in China was developing the first 180nm iteration, it was simultaneously exploring a 65nm IC design as well.

Few days ago, the team was carrying on with the final preparation steps to put our 180nm design out  for final tape-out with UMC fab.

Briefly after hearing about the latest news regarding ASICMINER new deployment of 800-1000 TH within the year, the management decided on a strategy shift.

We stopped at last minute the tape-out of 180nm first iteration test-run, and further development stopped as well.  

The Chinese team is now optimizing the initial 65nm design to work at 433Mhz, with over-clocking possible;
we expect to release final estimated hash rate and more precise estimations about power consumption data for this IC in 24 hours.

If all the post-simulations are positive, this IC design will go on tape-out, without test runs but with minimized risks, in a few days;  TSMC has a 65nm CLN65/CMN65 on schedule for 8 and 22 July.
Should we miss the 8 July shuttle we will go for the 22 July one. After about 50 days the deployment will start.

This IC could be used for a high-powered USB mining device, as preliminar tests shown power consumption is in the range of 0.7~0.9W

The version 2, which the European team is working on, is progressing as well; We got the whole I/O IC interface HDL code ready and it will be adapted and used for the new version 1 interface as well; The version 2 will still be a 65nm IC design with an expected higher hashing rate, in the range of 4~5 GH/sec, and lower power consumption but real progress is expected in September/October.

We need to take another decision now, since ASICMINER dominance is getting worse day by day, we are at a turning point, we have enough funds to finance a initial batch of 10.000 version 1  IC at an approximate cost of 700,000 CNY, or about 88,000 USD. This would output about 4.5 TH of power. Accounting (estimating) for a tripled or quadrupled mining difficulty during our deployment phase, we estimated that our initial investment could be recovered in about 1~1.5 months.

The other choice is opening a public IPO and going for a larger run of IC, 100.000~200.000 and mantain our previously announced marketing strategy. We want to hear the community opinion about this.


The Labcoin Team

EDIT : Photos of the new 65nm IC design with on chip PLL will be published as soon as they are ready.  Typos.

I have to say I like IPO.

+1

Can you be more specific ? there are various sites for doing the IPO, but we are more prone to a "private IPO" approach, if we should choose this way.
In addition, we would like to keep all the proceedings from the IPO on escrow, until we have a contract signed with the fab for the final tape-out.
We would be talking about a quite large sum of money.

Thanks for your feedback.

IPO probably best choice to speed up production.

how would private IPO work?

Thanks for the update

no ipo, most will prefer their own mining hardware.

" If all the post-simulations are positive, this IC design will go on tape-out, without test runs but with minimized risks, in a few days;  TSMC has a 65nm CLN65/CMN65 on schedule for 8 and 22 July."

- Go for the July 8th Tape out with TMSC for the 10k chip. Time is critical.

- if July 8th tape out you should get your Asic chip by middle of August and you can shipped those units out by August 2013.

They are a bunch of Asics coming in Sept and October ...

By the way USB Asic will not be a good piece of hardware to re-cover your ROI... may as well sell the higher hashing rate unit!

IPO on sites is just ok. Why do you choose "private IPO"?

In my view there are two different approaches here. Either you go straight for manufacturing of the 10k USB devices @ about (if I understand correctly) 1.5 x the speed of the ASICMINER block Eruptors and sell them to the public.

OR

You do a BTCT.CO/Bitfunder style IPO and rush to mass production of a more complex miner and/or mine-farm.

I think both are viable, though I think a IPO (if reasonably priced, well structure etc.) may be a much more,profitable and attractive option for all parties.

Just do like everyone else does. Make up some numbers and open your website for pre-orders. There's plenty of fools customers that will throw lots of money your way.

Be ethical nobody likes the work ethics of Butterfly or Avalon, they are being called scammers, cheaters and fraudsters.. and those 4 letter words. ;D

I'm not so sure you are necessarily correct. I think we are just now moving towards the main stream acceptance and interesting bitcoin. A say $50 USB miner, that can hash at 5-800 mh/s would prob sell very well even in sept/oct.

That said, I think that a ASICMINER style forum based/private IPO @ a reasonable valuation for production of low-cost larger units would prob still be a safer and more rewarding venture.

I would go for the IPO to raise more funds and to run a bigger production.

What would be considered a private IPO? Just private investors funding a bulk of the IPO outside of an exchange? How much money would you need to raise? How would the share structure and payout look like? If you can provide more details please share. Thanks.

+1 yes, yes, what that guy said above 8) please more detail, or if you're undecided lets discuss options here

Hi

where did you found the information about asicminer 800/1ph deployment?

if someone can post any link or else?

thanks

I believe ASICMINER has said that 800-1000 TH will be the total hashrate of the whole network and that they will bring in 200 TH to keep the 20% of the network, but the above statement has been misquoted as if they will implement the 1000 TH themselves.

edit: changed 1 TH to 1000 TH.

I also think we all need to take the ASICMINER deployment schedule and speed with a grain of salt. They still haven't hit their rollouts so far (thou close) and it always takes longer then expected to get to "market" with hash rate they expected.

There is also the already announced security and infrastructure risks of rolling out hash rate in China that Yifu has already explained in their Bitcoin expo video.

Do both. Private IPO and accept pre-orders, offering escrow until a prototype is available.

again


someone has a link abt the asicminer deployment?

thanks

Not a bad idea actually. If they can work parallel and churn out the 10k order as USB miners for instant ROI while using IPO funds to support Gen 2 development that may very well be the best solution. It would also enable dividends to share holders from Gen 1 as capital raised is used for Gen 2 dev.

+1 for this plan!

I am also very interested in a fairly significant portion of a private IPO (100-500 BTC)

+1 for investors to fund both projects.

Ok guys, thanks for the feedbacks.

Here is today's latest update from the Chinese team :

the IC version @ 65nm succeded post-simulation at 500 Mhz instead of 400 Mhz with some more optimizations, and still room for further overclocking.

 
 
We find this is the best option for our interests and those of the eventual shareholders. This way we would have a product relatively fast on the market and fund the 100k chip order, which will yield about 50 TH, even considering deployment costs, and various factors, we think it woud still be worth the investment.

The gen 2 chip you are referring to is the one the Chinese team is working on, or are you referring to the European team work ?

Advices are appreciated about the private IPO as well, how do you think this should work ?

We don't have experience with IPOs but have some financial background as well.

As for now we will go ahead with our plan and  the 8/22 July tape-out. Everything is almost ready for going to final  tape-out.

Good move " As for now we will go ahead with our plan and  the 8/22 July tape-out. Everything is almost ready for going to final  tape-out."

That is the best thing you should do. IPO and what not can come later. .to my understanding IPO, can be shares or shares base on per gh/s. You may not want to sell out all the IPO because you still need to have majority control. But some guys in AM group may know better.

Curious how you get 500mh/s per chip? are you using liquid cool? What was the watts consumption per chip?

Yes, but we haven't taken yet a final decision, regarding if that initial batch of ICs will be used for producing USB miners and those put up for sale, or  use the IC for private deployment.
We are still trying to figure out costs and price for eventual sale for having a better idea, but the best probable strategy as some of you suggested is selling the devices with escrowed pre-order and do an IPO. We are not very inclined familiar with an IPO model, as this wasn't our initial plan, but we'll start running numbers.
Indeed we think that the only way to gain some kind of  hedge on the competitors now, is going big, possibly for a 100.000 ICs order.
From the initial feedbacks from the community, it looks like there's interest to share the risk and thus, the profits of this eventual move.
We look forward for further discussion, time constraints are strict, so we would like to pan out a definitive strategy as soon as possible.

Labcoin Team

EDIT : Typos and phrasing

To reply to your technical questions :

Just some optimizations on the HDL by our engineers, no cooling as there's no actual chip yet. Only simulations and post-simulation verifications that were successful with a 500mhz clock.
Power estimations are about 2~2.5W per GH but they will definitely be optimized.

I think the main concern is deploying a massive amount of hashing power as fast as possible. The question now is how much money does Labcoin need in order to fund the order of 100,000 chips? How about going bigger and ordering more chips? In order to compete with competition now and future competition how much of the network would Labcoin want to capture once the hardware is deployed. Please share your thoughts and the direction you want to take. More hardware sales or more mining? Or a balance of both? I think you need to set up some kind of foundation and we can build on top of that. Hope this helps. Thanks.

We will get exact numbers directly from TSMC Shenzhen office, hopefully tomorrow or the day after. This is an important question definitely.

The chip fabrication itself is not expensive, maybe the more you fabricate the cheaper they will give you.

Also if an IPO was to happen how much % of the shares would Labcoin's management keep vs the % of shares to be sold? How much has Labcoin invested until now? I think a good place to start would be to put value to the operation and disclose how much capital has been invested by you and your team. I hope to hear back from you in detail.

well, first you should fully verify yourselves.. credentials of some sort, names etc to build TRUST.
then you figure out how much money you need for optimal funding, risk.
then you figure the rest out

We will disclose those figures in detail as soon as we get all the costs of the operation panned out.
 


We are still waiting for a final quotation from the fab, in order to evaluate the real possibility of going for an IPO.
Every other logical step will follow. By the way, you will find our certificate of incorporation somewhere in this thread if you want to take a peak at it.
Risk, definitely is also a factor to consider in the equation, and we're not ignoring it.

That sounds great. As start as you get things together and find out more detailed information please let us know. When do you think you will be able to present us with a plan?

We should get a reply from TSMC within 12 hours, otherwise we will contact them by phone, or worst case our Chinese team leader will reach out to their sales offices in Shenzhen. 
A plan is expected to be sorted out within 24 hours, but it will still need some refinements probably.

From a technical perspective we do not have any updates at the moment. The Chinese team is running more verifications on the 65nm/ 500Mhz/ 2~2.5WxGH design, all these computations take hours or standard workstations.

Interested.

This! I want to minimize risk as possible so more options is always the best

Escrow is a horrible idea for larger sums. Far better to just do an IPO at btct.co where IPO funds are in automatic escrow until trading time. No one wants to put $100,000s of dollars in escrow at 2%

This is the whole point of an IPO. Share holder bear the risk and provide capital.

I myself think that a IPO to cover additional chip orders (depending on price/gh) and fund Gen 2 development, in conjunction with sales of the first Gen mining rigs (with dividend from sales going towards share holders) is prob the strongest option.

In my opinion, ASICMINER has a brilliant approach to mining and hardware sales and there is no shame in copying is approach. Thou I think personally that ASICMINER has gotten quite overvalued at current market price.

Today we have a very important update, the Chinese team is simulating a lot of design simultaneously and worked almost non-stop for the last 48 hours  targeting different process sizes.

The results are more than positive, i will try to outline them in the clearest way possible.

1) The 65nm 500Mhz is still undergoing post-verification phase, while another simulation is ongoing at 600Mhz and we're waiting for the results.

2)  Post simulations yielded positive results on a 130nm, 300Mhz, Power 0.8W, 6.5x6.5mm design.
    
     The team is working on HDL optimizations to get 16 cores for chip.

     Some math, quoted from the tech team

What does this mean ? i think it's not hard to get.  130nm process and 5GH speed at slightly higher power consumption, but competitive prices.

Shoot any question guys

Sam
Labcoin team

Now you prefer 130nm? since it is cheaper to produce?  "Power consumption per GHash is 12.8W/4.8G=2.7W/GHash" compares to 65nm at 500mh/s at 2.5W?

Further elaborating, there's a TSMC Shuttle for 130nm on 5 August.

NRE costs for a full-mask at 130nm are affordable enough to be crowfunded, and the cost of full wafers are affordable as well. This is probably ASICMINER secret.

Chip output would be of about 1500 chips for each full wafer.

Estimate delivery of the already packaged chips would be around mid September.

We have multiple designs under test/simulation obviously to maximise the ability of obtaining results. 65nm results are not competitive with what we reached at 130nm.
NRE costs at 65nm are very high for a full-mask set, and since we're going for mass production, 130nm is not only cheaper, with 16 cores chip this is absolutely the way to proceed at the moment.
65nm chip is currently undergoing more simulations and verifications but it will definitely come shortly after this batch.

Any updates on IPO or order open?

would this add up to more power consumptions, a 5w difference per chip is negligible, however if you have a 1000 chip or even a few hundred chip the power bill will shoots up? 1000 chip x 5w = 5000w

We are evaluating different possibilities in this regard. News should be flowing soon.

I am fairly certain that anyone considering a 5TH mining operation would feel confident in handling 5000w as total power draw, over a vastly increased cost per chip and a later delivery date.

You're looking at a break-trough improvement. As said, we're able to fit 16 cores into a 130nm process, outputting 5 GH at  2.7W/GHash.
The 65nm 500mhz design will output 450~500MH at 0.7~0.8~1W  so it's definitely a great improvement.

EDIT : Also, the 65nm chip is more suitable for an USB miner device, not for mass deployment of hashing power as multi-core communication have yet to be ironed out.
 We think the best choice right now is going for mass production and deployment of the 130nm design with 16 cores, and consider the production of  USB miners for re-sale as well.
                    

what will be the hashing speed by chip?

Around 5 GH/s using a 130 nm multi core design @ around 14w total.

ok but the wattage seems too much comparing existing chips

estimate chips price?

It is a fair amount higher then KNC and Bitfury, that much is true. But interestingly enough it is on par with the BFL 65nm first batch, and can be produced at a magnitude lower price once NRE/Dev costs are paid.

i could be interested in participating in the nre costs and dev costs if you are ready

i was orienting my own project to structured asic

Great news from the team in China, we have got the on-chip PLL version working with multiple cores at 130nm. We're working out the final steps before considering this design good for tape-out, estimated on the first week of August. Investment opportunity will be open to the public soon and all details will be released.  

UPDATE : IC photos and magnifications, showing the internal PLL and the complete design, will be available in about 1 week.

Sam
Labcoin Team

For anyone who called us  from France today :

Sorry we missed your phone call on our  Chinese office number, because at the time of the call, it was late and nobody was there.  We will return back the call from Europe  tomorrow morning.

Samuel Noi
Nominee Director
iTec-Pro Limited
sam.noi@labcoin.com

How soon will the investment opportunity be open? Will you be using an exchange? Looking forward to more details. Thanks.

Investment opportunity should be open in 2 days. We'll be probably on btct.co or bitfunder, details are still being ironed out. Exact number of shares and price will be posted here shortly, probably tomorrow. We tried getting back to the French phone number who got in thouch yesterday but we were unable to obtain an asnwer. If who called is reading this, please send us a private message so we can book a time for a phone chat, we will re-try tomorrow morning at a different time.

I would like to add another line to this post, the intention is not to start a flamewar with other ASIC producers, but i want to give a warning to you guys, who are thinking to invest into other ventures present in this forum.

First of all : Do not trust any 3D rendering, whatsoever, they can be purchased easily and cheaply. ( we outsourced graphic design, so i speak from my personal experience ).

they are by no mean a proof of an existing product.

Look for a chip magnification, like those we posted, those are a good indications of the IC being really engineered and not a lie. But don't take them either as granted, it's not so hard to manipulate an EDA tool and obtain such images, or photoshop might be an even easier option.

You need to follow the development and do your own research about the consistency of the informations posted afterwards, and it's not always easy;
You can always use your google-fu if you are not an E.E engineer or have this kind of knowledge.

I want close this post by saying that we will provide btct.co or bitfunder full indentifications documents regarding the people behind this project.

Thank you
Samuel Noi
sam.noi@labcoin.com

It seems odd that the purveyor of the opportunity is providing us with information on how to spot a scam.

Not trying to troll, just thought it was ironic.

Ironic ? well, it's the last thing i find it to be. I respect your point of view though, if you just can elaborate more why you find it odd.

EDIT : Perhaps for conflict of interest ?

EDIT 2 : I just gave a warning, i didn't release any name at all. I think it's more than fair play.

So far I like your style.

Develop, produce, sell. Just let me know when you've got the first batch of hardware ready to ship.

~

Also I wonder if you could make my day and produce a product and will go in a 19inch U2/U3/U4 ? save us the trouble of having to mess with things.

Thank you. I appreciate that.  First batch will be probably ready for shipment by late august, Follow this thread or send us an email at info@labcoin.com so we can add you to our newsletter.
As for the rack size, i think it's a little early to make promises but we will do our best to give these devices the right casing. Thanks again

Sam
Labcoin Team

So the only way of investing is with bitcoins right?

The current plan is indeed to perform IPO through a Bitcoin exchange such as BTCT.CO, Bitfunder or Picostock, meaning that investments would be made in Bitcoin exclusively.

I didn't read for a while, mailed already for newsletter.

Is the first batch part of tthe hosting solution, or is there any possibility to buy/preorder some miners?

estimated selling price of 8-9 USD is affordable, is this confirm??

Estimated chip price may be slightly adjusted, but will stay near that price point. We're looking long-term and we think we will be working with volume instead of focusing on retail market.
We will still probably offer some high-powered devices though, expected in Mid September.

The contract with SZICC is being signed and sealed tomorrow, for booking the tape-out on Jul 24.

The IPO seems to be going a bit slow though, but we have enough funding for this initial tape-out, so it's not a concern.

P.S. All emails received are being automatically added to our newsletter.

Thanks

Sam
Labcoin Team

Here are some paperworks about the SZICC contract we are stipulating for the 130nm tape-out with TSMC, to gauge everyone's interest.

We have more exciting updates about the 65nm new generation IC, we will release the updates in the following days.


http://labcoin.com/docs/1.jpg

http://labcoin.com/docs/2.jpg

http://labcoin.com/docs/3.jpeg

I think you want to say July 24. How long until you will have chips in hand after July 24 tape-out?

How many chips are you making now? Waiting for the 65nm updates, in particular how soon do you plan to do them?

Thanks very much. Your project seems very promising at this point.
I like your style.
I guess you locate in Shenzhen, China. I'd like to visit your site if there is an open day for public reviewing.

Who is SZICC is that your Design House or Fab House and what is their relation with TSMC?

 SZICC is an incubator for helping startups dealing with large companies like TSMC. http://www.szicc.com.cn/en/comp_gsln.asp

Thanks for your appreciation, we will have open days as soon as the prototypes are ready! which will be around 45 days from Jul 24.

LOL

Yes, thanks for the head-up.  Fixed. 65nm will go on tape-out as soon as possible, and with great improvement on the original speed and power consuption. The point of the IPO is to raise money for this, because a 65nm tape-out cost is very different from a 130nm one.   Right now we're looking to get 1000/1500 chips from the first run at 130nm.

Have to admit they disclosed more details than others and certainly looks to be more transparent.

Any update?

The IPO is being finalized and a draft has been sent to Burnside @ btct.co
We are expecting to finalize the last details soon and are hoping to launch the IPO within a week.

 Sent an email asking to be added to your mailing list.

 Wishing you all the best with this project.

tag

Are you a part of the Labcoin team? It sounds like you are. Let me know if you will provide a few days in advance notice before shares are actually traded. Thanks.

I am assisting Sam and the Labcoin team in the IPO, and yes. We will most likely give people a few days advance notice before IPO is released on BTCT.CO both in this thread and a separate IPO thread under /securities

That sounds great. Thank you for the heads up. Will wait for the announcement.

UPDATE:

After an extremely busy week we are proud to announce that our Chinese team is working hard on the final place & route tedious task, scheduled for completion on this weekend.
We confirm that we're going out on fab next week, as per our last announcement.
For anyone who's interested on investing, we are working on the final details of the IPO and will submit all documentation to btct.co today.
We expect the IPO to be launched this weekend as well, and not later than monday 07/22.

sounds like everything goes smoothly.  ;)

What happened to the IPO?

The IPO process is taking slightly longer than expected. We are dotting i's and crossing T's as we speak. Expect more info shortly.

They are taking it nice and easy to make sure everything is perfect .. :)

any news or details about IPO..?

question to the TheSwede75, have you already bought into private IPO...?
how are you involved in this offering now..? 

I'm just curious and/or have I missed something

There has been no public  IPO or any form of public ownership distribution yet.

 I am helping Labcoin and Sam with the IPO process and possibly future communication and support. We (Labcoin) are currently finalizing the IPO documents for the IPO on BTCT.CO

As soon as the IPO is up for vote and we are comfortable that we have described the venture so that investors can make a 100% well informed decision there will be a thread opened under 'securities', and we will post link and information here,

We of course cannot promise perfection, but we do aim for an IPO that is correct and honest. Labcoin has also reached a few very important goals lately and we will communicate these shortly.

Interesting.  What are the legal issues involved with doing an IPO on btct.co?  Are they legally binding securities? What jurisdiction do they fall under?

Are you going to publish a full prospectus, with full disclosure of assets, revenue, etc? (I guess not much revenue yet)

I think technically the only legality under which the IPO would fall under is the rules for capital procurement for the country where a project or company is incorporated (If any).

That said, Labcoin is aiming for a very thorough and honest IPO and we will be publishing a prospectus complete enough to give all investors a chance to make informed decisions, as well as ask questions etc.

Which MPW are you using? Mosis?

The LABCOIN asset is now open for voting on BTCT.CO and you can find updated information on the IPO and more in the securities thread here: https://bitcointalk.org/index.php?topic=263445.0;all

If you are a voting share holder in BTCT.CO please make sure to vote. If there are questions we answer these in the securities thread.

Reserved ;)

Please give a full 24 hours before unlocking the IPO to allow time to transfer BTC into the exchange. if orders do indeed fill 'auction style' from the highest bidder down, allowing time for everyone to place their bids competitively will help the company raise more funds and give everyone a chance to buy shares.

Go to: https://bitcointalk.org/index.php?topic=263445.0;all

It seems like it has already started!!!

Information is vital reserved

It has not that is just people putting in bid orders the ask side is still empty
The asset just was officially approved

Will be on a first in first served basis or auction style?

IMHO it should be FIFS!

Outdated refer below that


Burnside said
Highest to Lowest
Then
First in First Serve

Since IPO is 0.001000 and its nearly filled to the 7000 bitcoin goal it is highly likely that not all orders will be filled at that price so earliest bids will be taken from those at the lowest price.

0.001001 is probably the safest bet before people start moving to it as bids above IPO are only 2558 BTC of the current changing bitcoin total which is 6759 BTC at the IPO price and then dust below it

Quick question is this still up to date
http://www.labcoin.com/presentation.html

EDIT Well that was fast when I Was napping a lot of things changed XD

I wish I could have bought some shares at 2:59, or told a buddy to, and then lock it right away. 
Great way to increase the demand and get the most return..
(fuck you)

Everyone got shares based on the % of the total buy interested, all priced at 0.001 btc.  Everyone got about 40% of what they asked for, so, if you bid for 100 shares, you got about 40 shares and paid 0.04btc

They got exactly what they asked for: 7,000 BTC.  No less, no more.

interesting .and mark this.want to know more about ur IPO details.

Sound reasonable. I should trust you first as the distance is very close. Hong Kongers inside.

So, congratulations on a successful IPO. Now let's get some real updates on the project status.

You may want to send TheSeven (https://bitcointalk.org/index.php?action=profile;u=15929) over here to explain things.

As announced here https://bitcointalk.org/index.php?topic=263445.msg2850861#msg2850861 (https://bitcointalk.org/index.php?topic=263445.msg2850861#msg2850861) we do look forward to provide more updates.
A website update is on the way as well, please post any question here or in the security thread as you see fit.

Thanks

Sam

My understanding is you've ordered a test first run of ICs at 130nm, and if those chips work you plan on ordering a larger run, correct?

When do you expect to receive the first run, and how many chips will you be getting? 

If the chips work, how long will it take to get them up and running on the network?

With the successful IPO, how many ICs will you order in the second run, and when exactly do you expect to receive them?

Are you still planning on a 65nm design next, when do you expect to tape out, etc?

Correct, the first batch of ICs is meant as  a test for our design. Delivery is expected in mid September, in quantities of several thousands pieces.
We expect to have the boards up and running within 7/10 days after we receive the ICs.
65 nm design is currently under development and is expected to go on tape-out in late August or early September.

So you are not even going to wait to see if the 130nm chips work before going ahead with the next generation? Are you that confident?

All tests and simulations show that we can be confident on the quality of our work, additionally, we will use this run of 130nm chips to deploy our own mining power and fine tune the hardware, before going for a larger run.
The 65nm design is expected to be ready within the mentioned timeframe, but it's not guaranteed to, we will take the best decisions according to how events will unfold.

When we are able to order some hashrate from you? I am worried that there are scams which like to use pre-order to cheat us.

I'd advise you not to take pre-orders for whole miners, instead just sell bulk chips and possibly reference PCBs

All the companies that are a little late with actually manufacturing working miners get massive amounts of hate. I'd say to avoid the risk and let third parties build systems and hobbyists build their own miners from components (possibly soldering on their own chips).

That will also create a "filter" that will prevent people who don't know anything from ordering from you and then flipping out all over the forum.

labcoin,

after 65 design will you begin work on 28nm? (q1/q2 2014?)

How can this version be so much smaller than the earlier 180nm design? I assume this is more or less the 180nm chip design shrunk to 130nm, and the numbers seem right except for the size. How in the world can you fit 16 cores in that small area? I can't make sense of it. The 180nm version would be 5mmx5mm so this one should be a square with 5mm*130/180=3.6mm, no? 16 of these would be 14x14. Can anybody help me figure this out?

wtf is going on here.. nothing for 3 days?  Was that question too tough?

I'm sure that all these questions of design strategy were covered in detail in the Business Planning and Strategy section of the Offering Memorandum that must have been available prior to the IPO...

someone answer tucenabers question, its so legit its creeping me out that its being ignored

+1

It's called "designing IC's by multiplication"! Where are the proper simulation results?

Not bad. If you are right then we are in good shape, 'cause that's one awesome chip, it looks like to me. Labcoin, please confirm ;)

UPDATE:

The developers are now open for live Q/A on IRC irc.freenode.org - #labcoin

Labcoin is still waiting for the Bitcointalk accounts to be whitelisted. Unfortunately I will be traveling today and have very limited Internet access for a few hours, so if someone from this thread would like to transcribe the Q/A for the forum I would be very grateful.

The Founder and the Developers WILL hold Q/A sessions and answer questions here on the forum as soon as their accounts are white-listed.

UPDATE:

Here is TAT's excellent transcript of the first Q/A session:

1. Please give us a detailed specification of the chip and its current status. What is the power efficiency?
Alright,the 130nm IC is designed to work at about 200 Mhz for core, with a total consumption of 0.8W per core, hashing performances of about 200 mhash per core, total speed will depend  on the overall output grade.
The IC covers an area of 6.5mm x 6.5mm and it has been designed following ideas similar to those employed in the bitfury ASIC.

2. How will you show transparency with the 75% retained shares?
the IPO manager will arrange some kind of way for burnside to release that information

3. Are your first run ASICs in production?
the first test run is already out to fab

4. How many chips do you expect to get out of the first batch? When will you have sample chips?
estimate date for receiving sample chip, one week later, if there are no delays, the plan is having boards produced within the first week of september

5. How is it possible to create chips with a such much better performance than the competitors. You've arranged them to fit more on the same size? For that to be possible, not only each Labcoin core would have to be ~42% smaller [65/130*(6.5^2)/(7.1^2)] than each BFL core but also the Labcoin chip would magically operate at a higher frequency (300MHz vs 250MHz) while keeping the same power draw...
rolled cores instead of unrolled, sea-of-hashers approach. as in sea-of-gates. you can google this term and find out more about what it means technically. i remind you guys that the bitfury chip has up to 750 cores. they also use the same approach, we chose this design because one of our guys was close to bitfury developments 2 months ago

6. What is the software used for mining, protocol development ? I am assuming Theseven will be doing the firmware part?
yes theSeven is working on a sophisticated interface for the 65nm version

7. Is Labcoin a hardware sales or mining co?
We will focus on deploying internal hash power initially and won't ship USB miners yet, time is tight

8. How many wafers? How many TH's will be hashing in September? That knowledge will be known as soon as you get the chips, correct?
well not 30-50 TH. not sure what will be the yield of the test-run but it's in the thousands ICs. correct, also,next week we'll have the next batch going out to fab
in september we may have a few TH. i can't give exact figures, by the end of Sept, initial week of october we'll have the full speed online.

9. Is this chip the same design as the 180nm? or a completely new one?
 it's based on similar design choices,but it's indeed different, as it's using a different library,different logic blocks  layout

10. How can you fit 16 cores on 6.5x6.5 ? How many cores on average per chip, what is your assumption
 The cores we have fit are not classical "unrolled cores",the cores as we mean them are the result of our engineering effort. i'll  pass the questions i can't reply to the lead developer

11. Labcoin seems almost small now in the light of new competitors like btcgarden, hashfast, actm, terrahash.. do you think you can keep up?
btcgarden? Well, guys, i would do a reality check before saying such things. Undoubtedly ASICMINER, AVALON and maybe BFL have some kind of advantage. But we don't see how we are inferior to those vaporware companies. What in their announcement makes them more convincing than us? time will tell and the sheer of technical details we have provided is not trivial. it's very unlikely we are making everything up

12. So if everything goes as planned - we'll see Labcoin start hashing in the first week of September? Can you please confirm?
confirm, hashing with moderate speed and testing and within the end of the month, we'll have the full speed online

13. What are the chances that the chips won't work? can you guestimate?
we're not worried about this, as soon as the hashing power comes up, the price will go the right route. there's a small chance that the chip won't work, but very very small. it's much more common to get slightly underperforming chips rather than completely dead ones

14. Who is Samuel Noi?
Sam is our nominee director, Fabrizio is the founder

15. What's the status of the boards? How long will it take after testing to get all the board you need, set them up with chips and get them hashing?
The boards are near their design completion and will be tested as soon as we have the chips. we'll post pictures of the boards very soon.  it will take about 7-10 days to get all the boards up and running probablyand, for the first run, we have 500 boards on order

16. Do you still depend on suppliers or do you have everything in stock? and what tools for p&r, sta, layout
we use  Mentor mostly, and its suite. we still depend on suppliers but we're closing in the gap. we'll be ordering components  according to the volume needed to avoid bottlenecks. 24july first one

17. Where is the lab? Shenzhen or Hongkong? Can we have a chance to visit? When if not now?
lab is located in SZ, at the university facility, we'll be moving shorty to another office. we'll be inviting selected investors to visit our datacenter in september

18. http://www.labcoin.com/presentation.html    are these photos of the real where u r working in?
yes,they are real. it's the university i mentioned

UPDATE:

I hope you felt that the Q/A session was informative. I will also, since he is an Authority that carries a fair amount of 'weight' in the forum make sure to ask TheSeven to take a more active role in the forum and our updates. As you have probably learned by now I am myself not an engineer or involved in development so the process of me asking Labcoin questions and them passing the answers to the forum via myself isn't the best route for technical discussion.

Thank you again!

Hmm, I'm a bit nervous about the whole "by the end of September" thing for getting everything online. Hopefully they have a faster internal goal for getting that initial hash power online.  I'm expecting pretty massive diff increases starting in September when the first KnCs hit.

Of course the dates/times provided take into consideration lead time etc. I personally also feel that accounting for current max-diff increase per period is more than taking into account a LOT of ASIC delivery.

NO NEWS for the last 2 weeks or so, why? After doing a successful IPO they vanished into the thin air? Why No Updates? What's going On with LabCoin? When are the Chips coming out? Hello, where is Sam??

I've never seen someones ignore button get so yellow in a span of ~90 days.

There has been news. A lot of it has been in the thread on the security board. Basically the chips should be arriving from the fab in the next few days, and they expect a week or so to get the first 2000-2500 chips online and hashing.

RESERVED

Lol, it's a bit late for that, isn't it?  

Who is going to read 15 pages in?

maybe he think that he is reserving some place in the queue,  hahaha

I'm all in.

What's up with that? Does it get yellower when more people ignore that person or what?

Anyone know why the labcoin IPO crashed so hard today? (it has since picked back up, but there was a HUGE HUGE drop)

Interesting. I haven't been keeping up with it, but I suppose the answer is somewhere towards the end of this thread for discussing the Labcoin security: https://bitcointalk.org/index.php?topic=263445.0

I'll read it over and edit the reason into my post here, because I am also curious now.  :)

EDIT: It seems Eve it right, "You know why? They weren't any updates or news from theSwede or Sam after the IPO? Off course everyone is worry."

It seems like a massive panic sale because of no updates. After the ball starts rolling down the hill, it is hard to stop.

You know why? They weren't any updates or news from theSwede or Sam after the IPO? Off course everyone is worry.

and here is the thread that has something to do with their IPO, https://bitcointalk.org/index.php?topic=263445.3760

Some says share were locked? and others say lack of communication between them, but the production is done by the Chinese guys in China, so wouldn't know how much of an influence they have over them? or was there a fallout between Sam and theSwede over btc?

Btcgarden already closed shop, refunding their IPO.

Waiting for Sam and theSwede for an updates.

The reason was that most of the investors in this place are impatient little kids.

TheSwede said he will give an update "early next week" and all the kiddies were sitting on the edges of their seats on monday and tuesday. Then Swede posted something along the lines "Sorry I wasn't able to talk to [the labcoin team] today, so I got no update right now". Then people went bananas, trolls came and called everything a scam, blablabla, more idiots joining the FUD party, blablabla => crash. Then just a few hours later, the actual update came and the price shot back up.

To summarize again: impatient little kids who fall for FUD, that's all.

last updates:
https://bitcointalk.org/index.php?topic=263445.msg3024941#msg3024941 (confirmation that the first batch of chips are received)
https://bitcointalk.org/index.php?topic=263445.msg3034290#msg3034290 (photo of the chip)
https://bitcointalk.org/index.php?topic=263445.msg3036247#msg3036247

I wonder if the calculations are correct. the "a 130nm, 300Mhz, Power 0.8W, 6.5x6.5mm design" means the size for 1 core is 6.5*6.5. or for 16 cores?
That is very confusing.

This team is old.

This team can't post a mining address.

This team has posted their mining address.

After a few days of setting things up, still no hashing hardware.

See something now
https://bitcointalk.org/index.php?topic=263445.msg3207029#msg3207029
http://www.btcguild.com/index.php?page=rankings&section=teams

They should share technical details with the community.  It's likely some people might be able to come up with software fixes to help stability issues (from what I understand the chips were 'resetting' after a couple of diff1 shares - possibly patching the software to shut off and restart the chip manually after a few MS to 'cool down' after a diff1 share could help)

What happened to labcoin? The webpage at http://labcoin.com/ still says "Launch est. Aug./Sept. 2013"

Great company. Meeting all targets and deadlines.

i suppose it s meant to be ironic?

I live in HK. If anyone wants me to give them a call I can! Is there a number? Actually i could do a search and see if they are even a registered company...

I think you should get in contact with LCSH (https://bitcointalk.org/index.php?topic=263445.msg3306517#msg3306517) as they are the ones amassing all the infos on LC - you can find most of them in the IRC channel #labcoin.

It would be great to have someone on the ground to go and check things up.

This is a scam...

It's on Eligius http://eligius.st/~wizkid057/newstats/userstats.php/17psAW21J4twanAFWmbcd5WdX2pKeX3trm

0.5 TH/s

500GH/s of avalons ok. Anything else?

I m under the impression that we had this discussion yesterday


Nothing has changed - on the 15th we are waiting for 3TH/s... or see above

Thank you for a shorter way to that thread. This is the second time when i manage to revive the "labcoin" user. This makes me warm and fuzzy.

Did you start the witch hunt yet?

http://eligius.st/~wizkid057/newstats/userstats.php/17psAW21J4twanAFWmbcd5WdX2pKeX3trm

Read your quote again. You said 3TH, not 2TH. Besides that i thought you want to take part of a company that was already supposed to have more than this hashing power plus the fact that they still haven't shown any single pic of a working miner, but oh well the fun must go on.

They are still tweaking  ;)

News?

Any mod to put SCAM in title or at least a warning? I think it's already clear that this was a very big fail.

Tweaking?

http://cdn.uproxx.com/wp-content/uploads/2013/09/wendy-breaking-bad.gif

I see 0 TH! Status?

They're on ghash.io now. The hashrate is about 8.8Th/s - you can check it by typing !hashrate in #labcoin on freenode.

so they are still alive???

On Cryptostocks: Labcoin associates themselves with iTec Pro Limited whose address in Hong Kong is:
Unit 1010, Miramar Tower,
 132 Nathan Road Tsim Sha Tsui,
 Kowloon Hong Kong, Hong Kong

So Have fun boys!

Website http://www.labcoin.com is down...

But, if their pool is hashing away 9.2 TH/S, they must have something good somewhere

yep, they've got a GOOD few million $$$ dollars of other peoples money.

fucking scumbags.. they can't hide forever, and one day someone will recognize them and expose them as low life criminals

actually it's easy to track these fuckers by hiring private detectives if you know your way around in Hong Kong but it's gonna cost a few thousands which i wouldn't really bother about since i lost only a few coins... however i would if i lost hundreds of coins...

Wow, this Roadstress guy sure is a gullible idiot.  I wonder how much he paid out at 50:1?

 ;D ;D ;D

And yet, he still has the gall to accuse HashFast of being a scam.   ::)

It seems that i just found myself in a very funny situation. I just lurk this Mining forum and ask questions and now people are attacking me. I saw it happen before to other people, but i never thought it would happen to me. There was a time when i thought 'Orama went crazy because of the lack of sleep (joking) when he was saying that people just start attacking him out of nowhere, but it seems that i lived the day to see it happen to me too.

What's so idiotic on my post? It was on the fifth page of a thread where the company says they will fund themselves with their own funds and also no preorders and no gimmiks.Hard to scam someone there if you fund yourself and you don't ask money for anything. At least that's how i see it. If you carefully read the first pages up to my post you will see that everything seems legit and i really believed in them and hoped that they succeed so that we can have more options for ordering ASICs.Back then the market wasn't so big as it it now and besides crappy Avalon there was nobody else shipping then if i remember correctly. The moment they started to ask for money for preorders and then started the Securies thread (started on 27 July over a month away from my post)  which i wasn't aware for a long time then that it was obvious there is something fishy with them. Actually after they started the Securities thread the posting from this thread stopped and in September i was pointing out that there is a problem with them. I haven't invested in them because it was a no-brainer that this is fishy.

The bet was obviously rulling out any preorder and any form of money upfront without any proof of working chips so thank you for proving yourself a retard and thank you for praising crappy HashFast. Inaba 2.0!

Edit: I might have said something similar in the xCrowd thread. Go ahead and spend your time reading all the posts and revive that thread. You can do it!

As proven by the existence and content of your quote, you were not "lurking" and richly deserve every consequence coming to you.

You were shilling for LabScam to the point of demanding anyone who knew it was a scam bet you their BTC, just to satisfy your unbridled enthusiasm for being taken advantage of.

If you want to see people attacking, look at the reaction when I broke the bad news to the Activemining cult.

Their cheerleaders turned my tag burnt umber!   :D

What was the catalyst for you finally waking up and realizing LabScam is a scam?

Are you sorry you helped a scam steal so much money?   How much did you pay out at 50:1?

Ok you got me. I'm a paid shill of Labcoin! Tard!

this shit is hilarious to read. all scammers sound the same calling others trolls. fuck you alberto ;)

You don't need a private detective….
Just contact the HK police cyber fraud squad

for getting records/history of Labcoin from BTC.TC, click link above and then paste your API that you received in email after the equals "="
 
eg. for trade history should look like below:
https://btct.co/csv/trades?key= (https://btct.co/csv/trades?key=)xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

fuck the cybersquads i want them skinned alive... triads can find these lowlife scums easily...