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Q:How many of the 20,000 chips in hand still remain to be deployed?
A:More than 60%
Q:On what date will all chips in hand be deployed?
A:To be determined
Q:What are the approximate running costs, per board or per terahash, of outsourcing and hosting (electricity, etc.)?
A:Did not run proper calculations yet
Q:Are the current chips profitable right now at the current difficulty? If so, what is the current profit margin?
A:Yes they are.
Q:What is the status of the next batch of chips? (the 130nm ones promised to use a thermally superior package)
A:We are considering a next batch.
Q:What is the status of the 65nm design? If it's still on hold, do you have anyone under contract to complete the design?
A:We are evaluating the candidates for this task.
Q:Have you secured exclusive access to the bitcoin wallet for IPO funds yet from Fabrizio? (If so, what address?)
A:Yes, address will be disclosed later
Q:When will you be in Shenzen next?
A:End of October.
Q:The network difficulty has risen 40% in the last few days, and is expected to rise sharply again in less than 12 days. Can you achieve 1% of global hashrate before the next difficulty change, and can you maintain that rate in the future?
A:Did not run proper calculations yet
Q:There have been a number of well-funded competing ASIC designers now producing real hardware, and difficulty is expected to continue rising at record high levels for the foreseeable future. At what difficulty will the existing Labcoin chips cease to be profitable given the known power and hosting costs?
A:Did not run proper calculations yet
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Just wondering. It looks like when you add to the total hashing there is a drastic dip for a little bit.. I'm guessing you are re-arranging, etc? If so I'm guessing we'll see more than 3 TH shortly...
Correct. We are currently bringing up more hardware. |
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Does Cryptostocks not use Google 2FA?
Yubikey only supported at the moment. |
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Labcoin,
How soon is trading expected to begin?
Probably a few hours, we're waiting for cryptostock response. |
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Sam, when can we expect to see some management accounts? Also will you be updating us on the work that the outsourcers have completed to stablise the chips?
Would you please clarify what you do mean with "management accounts"? I've already stated that outsourcers have worked out a new board design and powerful cooling solution. |
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When can we expect photos of the boards and hosting facility?
We will setup an open-space in Shenzhen probably during next month. |
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We will have 5 TH/s up and running later today, 8 TH/s online by saturday and will reach 11-12 on tuesday according to our estimates.
Sounds good. So this would be batch 1 correct? What are the plans regarding the next batches? Correct. Announcements about subsequent batches will be given in the next weeks. |
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Well, this is a pleasant surprise, things are finally moving on.  So, I don't have a CryptoStocks account, an account will be created automatically and shares credited, we just need to wait, right? This is the new official Labcoin thread, relevant news and informations will be only posted here. We are moving our shares to Cryptostocks, asset url is https://cryptostocks.com/securities/53Shareholders without a Cryptostocks account will receive an email message from the exchange with their account details, shares will be credited automatically. We will give notice here regarding the trading operations opening time. We are now hashing on eligius.st at 3 Terahash/s, more hardware is being prepared as we speak. http://eligius.st/~wizkid057/newstats/userstats.php/17psAW21J4twanAFWmbcd5WdX2pKeX3trmGiven the sheer amount of false informations posted in the original IPO discussion we are forced to self moderate this thread. Solid effort! I was wondering if you could clarify how the transfer of stocks would work. I've read that we will receive account details with shares credited but would that mean you would be the one generating the accounts or would we need to follow a process after creating an account with cryptostocks to credit our shares? If I missed anything in what you've stated, apologies on my part. If you already signed up with Cryptostocks using the same email address as BTCT, your shares will be credited automatically on the corresponding account portfolio. If you don't have an account already, the exchange will create one for you from the shareholders list i've forwarded to them. You will be receiving an email (check your spam folder) with credentials to login and verify the shares are credited on your portfolio. |
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We will have 5 TH/s up and running later today, 8 TH/s online by saturday and will reach 11-12 on tuesday according to our estimates.
Awesome. Awesome, awesome. Any ETA on when I get an email for the migration to CryptoStocks? Is it a good idea to make a cryptostocks account with the same credentials as on BTCT? Probably later today, we are waiting for Cryptostock response. It's ok to create a new account on the exchange, make sure to use the same email address you have on BTCT. |
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We will have 5 TH/s up and running later today, 8 TH/s online by saturday and will reach 11-12 on tuesday according to our estimates.
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This is the new official Labcoin thread, relevant news and informations will be only posted here. We are moving our shares to Cryptostocks, asset url is https://cryptostocks.com/securities/53Shareholders without a Cryptostocks account will receive an email message from the exchange with their account details, shares will be credited automatically. We will give notice here regarding the trading operations opening time. We are now hashing on eligius.st at 3 Terahash/s, more hardware is being prepared as we speak. http://eligius.st/~wizkid057/newstats/userstats.php/17psAW21J4twanAFWmbcd5WdX2pKeX3trmGiven the sheer amount of false informations posted in the original IPO discussion we are forced to self moderate this thread and lock the original one. |
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I was just fishing for information. I hope you realize that Labcoin shareholders know almost NOTHING about this security, things we need and desperately want to know.
We have learned, and uncovered, the fact that almost NOTHING in the BTC-TC security contract is accurate or true in any way.
-H.Z. Wang has verified to us that Labcoin never took receipt of his finished chip design. Who's gear are you hashing with?
-Why has 65nm development been suspended?
-Why do you refuse to properly identify (video skype) yourself? Video chat with TheSeven right now. Prove you are who you say you are.
-What's the fund address? Show us the money.
-We're down to 10TH now?! What happened to 50?
- Someone else completed his work. We are hashing with our own gear. - Resources are used according to priorities. Development will restart next week. - My identity will be proven upon a meeting with someone nominated as a community representative when we open our mining facility. - I need to shuffle funds located in different wallets for which i don't have control now. - We are not down to 10 TH, this is the first batch total hashing power. |
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October 13 Update
Monday we will start deploying the first batch of finalized hardware, amounting to 10 TH/S.
According to our estimations, we will reach 3 TH/s on monday, and about 5 TH/s within Saturday.
Within Saturday 19, full hashing speed of the first batch will be deployed.
We will receive more batches of hardware in the following weeks and deploy it accordingly.
This week dividends deposit on btct.co has been "confiscated" by Burnside, thus we were unable to push it to shareholders.
Given recent developments at bitfunder we are again looking for a platform to move our shares.
Also how do you plan on paying dividends If we are unable to find a suitable exchange this task will be executed manually, but we think the best solution would be to use a platform like what btct used to provide. There is a Labcoin passthru on Havelock. https://www.havelockinvestments.com/fund.php?symbol=LABCODo you plan transferring all shares here asap? They should accept Labcoin as they already accepted the passthru. Thanks! On the passthrough details it says Labcoin is not accepted at this moment, anyway i'm getting in touch with them as well. |
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What is your association with BTCGarden?
I'd say, absolutely none. Why are you asking so? |
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Where are you right now, Sam?
I am in Italy at the moment. |
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October 13 Update
Monday we will start deploying the first batch of finalized hardware, amounting to 10 TH/S.
According to our estimations, we will reach 3 TH/s on monday, and about 5 TH/s within Saturday.
Within Saturday 19, full hashing speed of the first batch will be deployed.
We will receive more batches of hardware in the following weeks and deploy it accordingly.
This week dividends deposit on btct.co has been "confiscated" by Burnside, thus we were unable to push it to shareholders.
Given recent developments at bitfunder we are again looking for a platform to move our shares.
Also how do you plan on paying dividends If we are unable to find a suitable exchange this task will be executed manually, but we think the best solution would be to use a platform like what btct used to provide. |
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October 13 Update
Monday we will start deploying the first batch of finalized hardware, amounting for 10 TH/S.
According to our estimations, we will reach 3 TH/s on monday, and about 5 TH/s within Saturday.
Within Saturday 19, full hashing speed of the first batch will be deployed.
We will receive more batches of hardware in the following weeks and deploy it accordingly.
This week dividends deposit on btct.co has been "confiscated" by Burnside, thus we were unable to push it to shareholders.
Given recent developments at bitfunder we are again looking for a platform to move our shares.
Good to see your back Can you go into detail about how it was confiscated? Transaction https://blockchain.info/pl/tx/3f22c73e677709ce39dfba1b23d6f5e1923238e7566d25dc806812af4e72856f never showed up on btct wallet. |
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October 13 Update
Monday we will start deploying the first batch of finalized hardware, amounting to 10 TH/S.
According to our estimations, we will reach 3 TH/s on monday, and about 5 TH/s within Saturday.
Within Saturday 19, full hashing speed of the first batch will be deployed.
We will receive more batches of hardware in the following weeks and deploy it accordingly.
This week dividends deposit on btct.co has been "confiscated" by Burnside, thus we were unable to push it to shareholders.
Given recent developments at bitfunder we are again looking for a platform to move our shares.
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I am having issues with IRC, reconnecting with IP 31.7.62.72
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