14 million shares, so at this point everyone will only get half off the shares right?
correct. |
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why are there so many bids above .001.. I even see someone with an order at .02 ? can I ask why??? do you like overpaying for things?
most likely they are offline so they couldnt be informed about the IPO |
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Apparently not, read Smiguel's comment above. and what is that? AM is transforming into a pool or what?  Maybe it's just a new node they are trying out. I don't know... but I want to know! and blochchain won't count those block in as AM blocks or what? |
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so are we going to move the bids to 0.001 if we have bids over?
can someone confirm
thanks
that is the smart move now. you will not gain any shares, but you will prevent yourself from "losing" IPO priced shares, as I think most of us will do this. |
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Any announcement regarding the beginning of share distribution?
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WHAT IS CST AND EST?  ?? USE UTC ！！！！ 20:00 GMT, 22:00 CET, as stated above |
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- 3 PM CST/4 PM EST is the cutoff for bidding. (EDITED!)
FYI: That's 22:00 CEST or 20:00 GMT. Hi all, I'm posting this somewhat blind. (haven't caught up with the last 10 or so pages...)
TheSwede75 and I have talked a bit and here's what we've come up with:
- 3 PM CST/4 PM EST is the cutoff for bidding. (EDITED!)
- Sometime shortly after that time I will lock the asset.
- All bids below 0.001 will be thrown out.
- All bids posted after the cutoff will be thrown out.
- We will then add up all the bids and use the total to create a ratio of number of shares ordered to number of shares available. (eg, 9,000,000 ordered, 7,000,000 available gives us a ratio of 0.777)
- We will multiply everyone's orders times the ratio and extract a whole number of shares on a per order basis. The orders will then be filled according to the result at 0.001 BTC. (regardless of what they actually bid.)
- This will leave some number of shares available due to rounding down to a whole number on every calculation. We'll figure out a way to deal with these fairly. Most likely recipients will be chosen at random from the pool of bidders but they will be a very small portion of the overall issue.
- 8 PM CST/9 PM EST we remove the admin lock and everyone can start trading.
Wednesdays are already full days for me with ASICMINER-PT related duties and my day job. So please be patient today. Responses to customer service and related requests will unfortunately be delayed significantly so that I can write and test all the code necessary to execute the plan above.
Cheers.
Given an example: 7 Million shares / 9 Million orders = 0.777 I have 50,000 share order @ 0.001, total 50 btc 50,000 x 0.777 = 38,850 shares My share become 38,850 and it's worth 0.001287 per share The higher number of orders the higher the price per share will be. NO, each of that 38850 will be sold to you @ 0.001, this is the reason of the whole idea. |
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So summarizing it: The best thing you can do is move your bids to 0.001, and bid for a higher volume. this will not guarantee you more shares, as everyone else is doing this too, but this way you wont "lose" shares as a result of other future investors doing this.
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Now we just hope that with LABCOIN and BTCGARDEN IPO's on the same day, BTCT.CO servers are wearing their very best work gloves.
looks like a good benchmark load for them servers. |
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this is dumb so the bids over .001 are being taken what is the point of an IPO?
they arent being taken, but they represent a smaller volume than they could if they were @ 0.001 It sounds like they are being taken... someone just said that they are accepting a ratio of it, so please explain how your statement of "they are not being taken" is correct only the volume of them counts, they add up all the shares @ 0.001 and above to get the ratio, and then all of them are multiplied by that ratio, and everyone gets shares @0.001, but if you have a bid over 0.001, then you "lose" shares, as you could bid for a higher volume @ a lower price. |
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Hi all, I'm posting this somewhat blind. (haven't caught up with the last 10 or so pages...)
TheSwede75 and I have talked a bit and here's what we've come up with:
- 3 PM CST/4 PM EST is the cutoff for bidding. (EDITED!)
- Sometime shortly after that time I will lock the asset.
- All bids below 0.001 will be thrown out.
- All bids posted after the cutoff will be thrown out.
- We will then add up all the bids and use the total to create a ratio of number of shares ordered to number of shares available. (eg, 9,000,000 ordered, 7,000,000 available gives us a ratio of 0.777)
- We will multiply everyone's orders times the ratio and extract a whole number of shares on a per order basis. The orders will then be filled according to the result at 0.001 BTC. (regardless of what they actually bid.)
- This will leave some number of shares available due to rounding down to a whole number on every calculation. We'll figure out a way to deal with these fairly. Most likely recipients will be chosen at random from the pool of bidders but they will be a very small portion of the overall issue.
- 8 PM CST/9 PM EST we remove the admin lock and everyone can start trading.
Wednesdays are already full days for me with ASICMINER-PT related duties and my day job. So please be patient today. Responses to customer service and related requests will unfortunately be delayed significantly so that I can write and test all the code necessary to execute the plan above.
Cheers.
Everyone with higher bids are going to want to move your bids to .001, otherwise you are cheating yourselves out of a chance at more shares. Realistically all bids should be at exactly .001. For example, if you bid 100,000 shares at .0011 you could move those bids to .001 with 0 risk and bid 110,000 shares for the same btc. exaclty |
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this is dumb so the bids over .001 are being taken what is the point of an IPO?
they arent being taken, but they represent a smaller volume than they could if they were @ 0.001 |
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Hi all, I'm posting this somewhat blind. (haven't caught up with the last 10 or so pages...)
TheSwede75 and I have talked a bit and here's what we've come up with:
- 3 PM CST/4 PM EST is the cutoff for bidding. (EDITED!)
- Sometime shortly after that time I will lock the asset.
- All bids below 0.001 will be thrown out.
- All bids posted after the cutoff will be thrown out.
- We will then add up all the bids and use the total to create a ratio of number of shares ordered to number of shares available. (eg, 9,000,000 ordered, 7,000,000 available gives us a ratio of 0.777)
- We will multiply everyone's orders times the ratio and extract a whole number of shares on a per order basis. The orders will then be filled according to the result at 0.001 BTC. (regardless of what they actually bid.)
- This will leave some number of shares available due to rounding down to a whole number on every calculation. We'll figure out a way to deal with these fairly. Most likely recipients will be chosen at random from the pool of bidders but they will be a very small portion of the overall issue.
- 8 PM CST/9 PM EST we remove the admin lock and everyone can start trading.
Wednesdays are already full days for me with ASICMINER-PT related duties and my day job. So please be patient today. Responses to customer service and related requests will unfortunately be delayed significantly so that I can write and test all the code necessary to execute the plan above.
Cheers.
+1 Chances are, some will move their coins to the other IPO and the ratio will be 1 by the proposed time. many +1, thanks Burnside and TheSwede75 |
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Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.
Just pull the trigger at the stated time, release the entire amount, at the IPO price and let the market decide. I'll provide a shoulder for anyone to cry on if their feelings got hurt for only 1btc per 5min. This is the correct answer. Let the market decide what to pay. And what if someone decided to buy 7,000,000 share at 0.004 BTC? Would you be happy with that? Free markets simply favour the rich and greedy. The cap and percentage idea is by far the fairest so far. +1 |
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Up to 12.5 mill orders at or above the IPO price.
I kind of want to order more now but I'm holding off since you said not too.
I still think capping large orders and distributing shares as much as possible to smaller orders would be the most 'fair' way to do this. In the real world IPOs aren't fair at all - banks give shares to themselves and their preferred clients first.
but we dont work like the real world. this is bitcoin world  |
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LOL 2 IPO's up, take your pick
God help, maybe this can solve all our problems. |
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It got the 3 approved votes!! Quick, time to start placing bids!!  not again 5 votes..this is starting to be really funny |
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Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.
You definitely showed us that you're willing to communicate, so I don't think anyone can blame you or Labcoin for being unprofessional here. I for myself want to thank you for being transparent and for listening to our ideas. Region lock for 3.5mil shares, America today at 8pm CST and Europe at a convenient time, lock price at IPO first come first serve. After all shares are sold then resume normal bidding. oh then I know the first problem: why USA first? this is a no win solution. Earliest it can be released. Labcoin announce it will release 8pm CST. The real question should be what about people that don't live in US or Europe. this is the next reason why this is not a solution |
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Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.
You definitely showed us that you're willing to communicate, so I don't think anyone can blame you or Labcoin for being unprofessional here. I for myself want to thank you for being transparent and for listening to our ideas. Region lock for 3.5mil shares, America today at 8pm CST and Europe at a convenient time, lock price at IPO first come first serve. After all shares are sold then resume normal bidding. oh then I know the first problem: why USA first? this is a no win solution. |
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Is everyone dumping their portfolio for Labcoin IPO?  I think there are a LOT of factors to the market movements. Not only our IPO but BTCgarden and several other large IPO's in China today. Stop being modest. We all know its your IPO. +1 |
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