Bitcoin Forum

According to labcoin (https://bitcointalk.org/index.php?topic=263445.msg3258316#msg3258316) their team is going to hold a public Q&A session on IRC tomorrow to discuss the controversy (http://www.reddit.com/r/Bitcoin/comments/1ncckq/labcoin_has_been_outed_as_a_scam_run_by_notorious/) surrounding Labcoin. The time for this session is yet to be announced by labcoin (https://bitcointalk.org/index.php?action=profile;u=120219).

To get the most out of it this thread is intended to collect questions and topics to discuss.

If you think this is a good idea, please post here so we can refer to those questions tomorrow.

Please use Labcoin's thread (https://bitcointalk.org/index.php?topic=263445) for discussion to keep this thread as clean as possible.

Because it's in our all interest to get explicit and direct answers, please don't be too vague or phrase the questions too general.

kleeck (https://bitcointalk.org/index.php?action=profile;u=68461) has voluntarily agreed to moderate the Q&A as discussed in #labcoin.

Sidenote: the nicknames "TheSwede75", "labcoin_dev" and "labcoin" were registred on Freenode, but not from a member of Labcoin. Don't get fooled - it's not them.

Please explain the nature of the technical issue.
Is it the boards? The chips?  The software?

Why are you able to hash at all?  Is it using Labcoin-developed hardware? Or something else?

Have you actually ordered 100,000 more chips?

What is the performance of the current chips?

Who are the team members involved? What are their qualifications?

Why can you not provide a photo of the working hasher?

Is the current batch of hardware unsalvagable?

Is there any possibility of improving the hashrate before Oct 15?  Be specific as to how this will happen.

Why have you not brought on TheSeven to assist with rev 1 issues?  He's asked to be allowed to help.

Where are you, Samuel Noi, located?  

Where is the hashing hardware located?  Have you inspected it personally?  

How many shares have the team sold so far?
We need a full trade log of the whole team.

Valid point. Though I think most questions are more or less obvious anyway, but if there is something bristant and unexpected, don't make it public yet. Phrase all questions in a way that there is no tolerance for manufactured answers.

how many people are working on it?

is howard providing any support for the chips he likely designed?

Would you consider hiring a Chief Technical Officer to oversee the technical aspects of this project?

If not, please justify your choice.

According to TheSeven and a transcript [1] Alessia Tatti is behind the Skype "delaria". According to the data on Facebook Alessia Tatti [2] is the sister of Fabrizzio Tatti [3] who is in some way connected to Labcoin. Why does user "labcoin" use her Skype handle "delaria" on bitcointalk.org [4]?

Who is Alessia Tatti and what is her role in Labcoin?

Alessia Tatti [5] and Fabrizzio Tatti [6] are connected to Alberto Armandi who is a well known scammer [7][8]. What is his involvement in Labcoin?

[1] http://pastebin.com/1Rq8r4UW
[2] https://www.facebook.com/tatti.alessia
[3] https://www.facebook.com/fabrizio.tatti
[4] https://bitcointalk.org/index.php?action=profile;u=120219 (mirror (https://i.imgur.com/FD6tSoK.png))
[5] https://bitcointalk.org/index.php?topic=263445.msg3257525#msg3257525
[6] https://bitcointalk.org/index.php?topic=263445.msg3257739#msg3257739
[7] https://bitcointalk.org/index.php?topic=83794.0
[8] http://codinginmysleep.com/lessons-learned-from-the-bdt-fiasco

You say you've outsourced the fix for the current problem.

How did you make sure the people you hired are qualified?  Be specific.

Pictures are one of the easiest things they could of provided us with

Will you meet in person a nominated shareholder? Sign an NDA with them. Then show them the following information.

Management accounting to date.
A visual inspection of the main btct account with 2 million plus shares
Full disclosure on company structure
Full disclosure on current technical issues

Then work on an update with them to pass non confidential infomation to the rest of the shareholders

Here's what I'd like to know: What actually happened the other day when you posted you'd be back on BTCGuild within an hour, and then that didn't happen?

What was supposed to be happening in an hour, and why didn't it happen?

How many boards/devices do you have assembled and running?

What is your schedule for receiving units from the company you outsourced too? Are you planning on receiving all of them on 10/15? Has the outsourcing company guaranteed their work in any way? And speaking of which, what's the name of the company you hired?

How do you know these units won't have the same technical problems as your current devices?

What is your current financial situation?  How many BTC/USD/HKD/whatever do you have left?  How much are you spending on these technical teams/outsourcing companies?

Will you send out some sample chips to independent parties or shareholders to evaluate?


+1 - this company needs someone in charge who actually knows what they're doing. They also probably need someone who speaks Chinese fluently to communicate with the technical teams if the CTO doesn't.

I also think we need something like supervisory board (as opposed to 'advisory' board) to actually review what Sam is doing, be kept in the loop on decisions being made, know who the contacts are at the outsourcing companies so we can independently verify the progress being made, and so on.   (as well as reviewing technical data for the chips/boards to see they're for real)


In order to give someone a test, you have to know if the answers are correct in order to grade them. In this case, we want him to research these issues and get the correct answers.

Why make them sign an NDA? The only way that information could be harmful is if it could hurt the share price, which at this point...

Also I think it should possibly be multiple people, not just one.

From what I've heard Fabrizio Tatti is the owner of i-Tech pro ltd, and brother of Alessia Tatti, who used to date Alberto Armandi, but no longer does. I have no idea how accurate that information is (All I know is that Fabz and Alessia have the same last name and that she lists someone other then Armandi as her bf on facebook)

Can you update the OP to include clear instructions which will allow people to join the chat tomorrow.

Remember not everyone has used IRC before so make it simple please.  A countdown clock would be useful once you have a set time.

Thanks.

A bet like Josh did ?

Chat available here: http://irc.radiumsoup.com/freenode/labcoin/ with link to the logs (updated near real-time) at the top

New question-

Will they actually do a Q&A?

Where is the money?
And do you have accounting for every dollar spent?

they are still dodging all questions..

<radiumsoup> There are deposits going to the publicly signed mining address now. What hardware are you using to generate those hashes?
* Squirrel is now known as Guest31299
<labcoin__> we're using the same ICs from the batch, some of them are not actually "defective"



There is no reason NOT to post pictures of the ones currently in use.. if he fails to do this, then prepare for a huge dump

Most of  these got asked and responded to.  Thank you!