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I wonder who these people are making those large buys. Maybe people over in the Chinese forum?
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The party is starting to heat up!!!
I hope people in the US can wake up before the party ends. I don't sleep. |
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Fellow gardeners,
I am now in for the ride..
Gardeners. I like that |
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I'm in the boat!  I'm on a boat. |
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But seriously just chill. If you don't trust these guys with your money, then don't hold the shares.
It's not as simple as that. The greater issue here is the legitimacy of the market itself. We care, so we kick and scream. I don't want issuers acting like scammers, or investors buying into scams, regardless of whether I hold shares. It affects everyone. It affects the value of everything, and bitcoin's health in general. +1 its important for a company to address our concern. |
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In other words, you can sell whenever you want and no one will know. Surely, burnside would. But still there should be lock on them or at least mentioned in the contract that they cannot sell them Yes. Updating the contract and putting a lock on those 3million shares will be good. If they have no intention to sell, doing this shouldn't be a problem. |
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Outstanding 10000000 / 10000000 Issued what's going on?  outstanding: 300000/10000000 +1, what is that? Those are the 300000 private shares and I assume they were transfered internally. then it should be 3M not 300k according to the contract, or am I wrong? Correct, but to avoid possible 'fat fingering' of any transfer we are transferring the 3 million shares not available for sale in the IPO in batches instead of as a single lump transfer. NO shares are sold privately during or before the IPO!+1 Yes the 3mil was there before the IPO. We should have 10mil/10mil outstanding. The shares didn't reflect that because of a bug that Burnside already acknowledged and said he would fix today. Looks like he fixed the bug. |
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Quote of the week... Beware the mirage of ASICMINER clones, and hold tight to your shares ActiveMiners.
Edit: and right on cue, their false prophet is now addressed as... A renaissance man like FriedKen
AntiCat worshipers! The day bitcoin ASIC companies become a religion. |
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Q: How do you plan to convert 7000 Bitcoin into fiat? No need for full disclosure, but this question is critical.
A: ... I do believe there is still some discussion around if ALL 7k should be sold ASAP or if a portion should be held for dividend payments etc. ...
Please establish and communicate a policy around this ASAP. I do NOT like to see investor funds being used for dividend payments, the money is there to grow your business, not to placate the shareholders. I'm dumping my shares. Talks about operating the security as a ponzi scheme should not be taken lightly. This is exactly the type of publicity we don't need in the BTC security marketplace. Obviously Labcoin is by no means a Ponzi-Scheme. Labcoin does NOT intend to pay dividends until the project is profitable. The shares in the IPO has been placed already and Labcoin does NOT intend to raise more capital. I cannot even see how a company without re-investment incentive or a continuous dilution of share capital could even function as a Ponzi scheme. I will make sure that Labcoin prioritizes having a developer Q/A and for the Founder Fabrizio to hold an open discussion.
I am sorry if I made it unclear. Holding a small portion of Bitcoin would NOT be to pay dividends out of 'thin air' of course. This would simply be a small buffer to use for dividends if say Fiat payments are made for bulk chips or miners from customers and BTC is hard to 'come by'. I will pose this question more clearly to the Labcoin team, but rest assured this is NOT a large amount of Bitcoin we are talking about and of course no coin will be held at all if needed to grow the project or pay for Chips/Hardware/Dev etc.
+1 |
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I'm dumping my shares. Talks about operating the security as a ponzi scheme should not be taken lightly. This is exactly the type of publicity we don't need in the BTC security marketplace. It's far fetched to claim this is a ponzi. All they say is "We have 7000 Bitcoin now and we don't want everything converted to fiat", because they want to keep some coins for liquidity reasons and to avoid fiat to Bitcoin exchanges afterwards. I don't see any problem with that, but if you still do, please elaborate. +1. I'd say that the level of hysteria in bitcoin investors is really high, but I have enough experience in the forex forums to know that bitcoin doesn't have the lock on people with fingers on the panic/accusations button. I think some of the people here are over emotional. |
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I'm dumping my shares. Talks about operating the security as a ponzi scheme should not be taken lightly. This is exactly the type of publicity we don't need in the BTC security marketplace. It's far fetched to claim this is a ponzi. All they say is that they want to keep some coins for liquidity reasons and to avoid fiat to Bitcoin exchanges. I don't see any problem with that, but if you still do, please elaborate. I am sorry if I made it unclear. Holding a small portion of Bitcoin would NOT be to pay dividends out of 'thin air' of course. This would simply be a small buffer to use for dividends if say Fiat payments are made for bulk chips or miners from customers and BTC is hard to 'come by'. I will pose this question more clearly to the Labcoin team, but rest assured this is NOT a large amount of Bitcoin we are talking about and of course no coin will be held at all if needed to grow the project or pay for Chips/Hardware/Dev etc.
I believe the reason for the Chinese sale is that not only would it be somewhat cumbersome to move a large amount of fiat between western exchanges and Chinese accounts, but also the fact that Bitcoin (don't quote me on this) actually is quite a bit more valuable on average in China then on many US exchanges.
+1 I hope people understand what Swede is trying to say here |
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I'm still alive!
I concur. I, also, concur. |
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We've flatlined.
What's the prognosis, doctor? Do you concur? |
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Well I'll put my bids at 0.005 when the IPO launches P/E Ratio jumps up to 5 on a tech company lol I'm going to kill myself if I just missed out on an easy $40,000.
Don't do it. It's just money. And just in case don't do it !!! $40,000? You have to give yourself more credit. I'd say you're worth at-least 7.9 million. |
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I vote to remove confusion in the future Zulu time is now the official time of Bitcoin.
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Just to make matters worse, this IPO caused a ridiculous crash of ASICMiner.
So not only did I miss out on a great opportunity, I lost a ton of money too.
I'm down a few grand. If I had 10x as many shares in Asicminer I'd probably have punched a wall for not selling out before the crash. Only because I think that the speculation in ASICMINER share price drop probably is wrong I will point out that there have been several thread on bitcointalk, reddit and elsewhere reporting that share holders are dissatisfied with the latest dividend payment. I doubt a single IPO of 7k BTC could really affect a security of ASICMINER's value (100x+ current LABCOIN Ipo value if I am not mistaken) You made the IPO to lower the price of Asicminer so you can buy them at cheap price /conspiracy Yes yes its the perfect crime |
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Just to make matters worse, this IPO caused a ridiculous crash of ASICMiner.
So not only did I miss out on a great opportunity, I lost a ton of money too.
I'm down a few grand. If I had 10x as many shares in Asicminer I'd probably have punched a wall for not selling out before the crash. Only because I think that the speculation in ASICMINER share price drop probably is wrong I will point out that there have been several thread on bitcointalk, reddit and elsewhere reporting that share holders are dissatisfied with the latest dividend payment. I doubt a single IPO of 7k BTC could really affect a security of ASICMINER's value (100x+ current LABCOIN Ipo value if I am not mistaken) You made the IPO to lower the price of Asicminer so you can buy them at cheap price /conspiracy |
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For the past 10 pages we have confirmed that transactions are not working.
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Wow everyone is ignoring the possibility of this being a scam.
I just want a little discussion perhaps.....
Great. Discuss why you think it might be a scam. Like MPOE said, OP's account is actually quite new, I read over a lot of his posts today and most of them are about buying ASICs and stuff. But he reads like a new person to this stuff and makes no suggestion that a ongoing experimental development has been taking place. And then all of a sudden this IPO. I am probably wrong, but his post history does not imply he was apart of an ongoing ASIC development team of any kind.... I'm most likely wrong, just seems fishy. They have another post in custom hardware posted by user labcoin. It was the conversations in that thread that lead to this IPO. Sorry I can't link. Someone help me? Here you are... https://bitcointalk.org/index.php?topic=241033.0Hope someone from the dev team chimes in regarding the chip specs as OP promised. Thanks. |
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