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? |
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Hysteria has reach all time high.
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Saving this for the inevitable moment when the 100 post forum sock made two months ago turns out to have been...a 100 post forum sock made two months ago.
There are no words to describe just how low the average IQ is around here.
So not a good buy?  If true then we should sticky this post to show all the drama that has unfolded in this thread. |
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Also, if you think gaming the system is wrong, then they shouldn't have setup the system like this.
OK, ALMOST everyone has already posted their bid. The IPO has been posted several hours. The majority of new bids are most likely folks trying to game the system. I am not 100% how Burnside is handling everything "behind the scenes" at BtCT.co but I am sure that he is doing everything he can to assure a fair distribution. I also think that perhaps the relatively short time between solution post and lock-in time together with the fact that we are not clearing out any placed orders at or over IPO price will lead to a at lest "as fair as possible" IPO distribution. I need a drink. +1 beer |
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Will this be the largest IPO in Bitcoin history?
Not sure if anyone has kept stats on things like this.
Interest wise, it probably is. Value wise I think 7k BTC does not even make top-10 (I could be wrong) Please do something with the ddos, I cannot bid now. As weird as it may sound to you. You are part of the DDoS. We are what we hated. |
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not just you, I am having difficulty as well
We did it guys. We killed the website. |
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I also agree that the shares should all be released at the time stated, or I guess just put up a 300K Buy wall at .001,
If not release all the shares at once why not just let everyone put bids at .001 and just take them all? whats the point of releasing the shares again at 9PM for the exact same price?
The shares (all 7 million) will be released for TRADING on the open market (The owners of shares can then trade) at 8 pm CST. The reason for the cut-off is to give Ethan Time to distribute the shares at IPO price according to the plan stated. After the shares are released for trading we will have no control over the pricing and the market will set price. This is a fairly coming practice in IPO's and is the most used alternative to a closed or open bidding process. Hear, hear. |
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This is a conspiracy! This is unfair.
At first, you say it's 8pm central time, then you change it to 3pm central time while the whole Asia is in their sleep.
It will hurt BTCT's reputation.
Damn we are so concern about America and Europe that we forgot Asia. |
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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 There is enough people online to double the shares at IPO. |
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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.
I would like to thank everyone for their comments in this thread. I totally understand the frustration that many people feel and I hope that people understand that we are only trying to do our best in an 'impossible situation'. I completely understand that not everyone is going to be happy with the solution but hopefully a majority will feel that we at least did our best in solving the problem.
Cheers!
(And now it's time for me to have a drink and a cigarette)
+1 beer |
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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  where we're going we don't need roads |
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Solution suggestion
The IPO shares are the first 7 Million bids @ 0.001
The rest will become bid orders, they want to buy at higher price anyway, those who bought 0.001 will be happy to sell it at higher price.
I think you just described free market. Free market? Blasphemy I say. Give me all 7million for free and I'll put it on the market. |
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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 I'm sure its an easy fix. Just don't include regions that at an inconvenient time like 10PM-7AM. |
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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. |
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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. |
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+1
I seem to be very agreeable today. So many +1  |
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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. |
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I vote for the free market deciding.
I get and like your standpoint, but selling an IPO at IPO price is the tiny bit of regulation an IPO is for. All free market as soon as 7 million shares are sold for the initial offering. +1 +2 I'm really interested in how burnside will decide. I think release 3.5mil for the Americans and the rest at a more convenient time for the Europeans might be a good idea. EDIT: Capping the price at the IPO and how can you be sure, that no american investors can buy shares when they are being sold for the europeans? Can't stop them but it will be the same the other way around. This will afford Europeans the same chance as Americans. Reading the thread it will be around midnight when 8PM CST rolls around. EDIT: I'm sure its within burnside's abilities to block ISP from those regions for a time-frame for this specific asset. |
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I vote for the free market deciding.
I get and like your standpoint, but selling an IPO at IPO price is the tiny bit of regulation an IPO is for. All free market as soon as 7 million shares are sold for the initial offering. +1 +2 I'm really interested in how burnside will decide. I think release 3.5mil for the Americans and the rest at a more convenient time for the Europeans might be a good idea. EDIT: Capping the price at the IPO |
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We need more fuel for this fire. Nothing else to do until TheSwede75 makes his announcement.
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