I have just one question for FC (or anyone else who can answer authoritatively): where are the dividends from hardware sales? I was kind of expecting them a couple weeks ago, then I was really expecting them last week. Now I am totally uncertain when or even if they will ever be paid. I suspect a lot of other shareholders (and former shareholders) are in the same boat.
I think he paid them out already. The cubes most probably have a thin profitabilty now anymore since its gen1. So lets say 3000 are sold for a profit of 0.1 BTC makes 300 BTC in total for one week. Not so very much. At least thats how i think it worked. Could be. I thought the last couple weeks were just mining plus the franchise mining. I think this goes back to the basic lack of communications. Greatly looking forward to better communications. If you follow the feeder addresses of Asicminer then there are always not small amounts of values in it that most probably are miner sales since the prices are so made up. I have just one question for FC (or anyone else who can answer authoritatively): where are the dividends from hardware sales? I was kind of expecting them a couple weeks ago, then I was really expecting them last week. Now I am totally uncertain when or even if they will ever be paid. I suspect a lot of other shareholders (and former shareholders) are in the same boat.
I think he paid them out already. The cubes most probably have a thin profitabilty now anymore since its gen1. So lets say 3000 are sold for a profit of 0.1 BTC makes 300 BTC in total for one week. Not so very much. At least thats how i think it worked. Weren't the cubes being sold for 1 BTC a piece? I'm pretty sure the profit margin is way more than 10%. The only question I have for fc is "when is the better communication coming"? Its not that I'm too lazy to ask a reasonable question, just too lazy to ask questions that will go unanswered anyway ..... Right... he probably would pay out the whole price and when he needs money for reinvestment retract divs again. |
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I cant believe that since such a scam only can work if the majority of the money remains in the system. When all the big players would have ended with a win then the system couldnt have played out only on the backs of the small guys.
Sure it could. The "big" names werent in with bitcoins anymore, they long cashed out, instead they set up pass through schemes to funnel fresh money to pirate in return for a cut. Ah you mean them... might be that a couple of them realized what happens and withdrew the fee they got. Though its more big names than big returns. Since big returns on that side means even bigger returns on the scammers side otherwise the whole thing had to be stopped by the scammer in order to make money with it. I dont know if there really were many that won with it. On the other hand... who would admit if he did? It would be very sure that the scammed ones would shred them to pieces... TheSwede75 didnt make 1,000BTC profit? Where do you have this from? Thats plain stupid. In fact he made a big loss. So if you cant come with some evidences or hints you shouldnt propagate such things.
I just read a post by you where you can't put 2+2 together to see how funds got to jd wallet, and now this.  "in fact he made a big loss" . with the fake portfolio img he show? he jump on a flight, then back to trollbox, buy 250k ftc and 50k xpm with all dreamers investment $.. There really is no fixing stupid. *sigh* Impressive again how some guys can suck stories out of their own fingers. Wheres the proof? Surely you would use these evidences at court right? Its very easy. You claim you know that the image is fake and he will go to jail right? What do you mean with jd wallet? TheSwede made big money off this, somebody found his wallet, and he was buying cars+luxury watches shortly after Labcoin went live.
He is the biggest reason why this scam succeeded. He is just as responsible for it.
Just look at all his stupid posts trying to convince people to stay in this company, even when we were discovering facts that it was a scam. You really take that psychopath's word he knew nothing what was going on? Even now, I still see him in the trollbox everyday pumping Feathercoin and other garbage alts.
He is responsible? He thought it was a legit company like any other involved that bought shares. He did his work which was PR, he received shares for it and invested from his own BTC in those shares too. So now you claim he is responsible? Is howard responsible too then because he developed an asic for labcoin? There were all the time people that claimed to know it was scam and others that didnt see the sense in it. If thats really all you have to claim he is guilty of then im glad that you guys are no judges. I guess thats human nature. One will not be guilty of being stupid. No... that cant be. Others must have been it. They convinced me. They had to know it was wrong. Im the poor victim. Guys... that wont work. |
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Guys... User750 still insists that the Dutch Auction is the normal auction worldwide. I cant imagine that. Sothebys isnt dropping the price of the highest bidder to 1USD above the second lowest bidder. In fact i know these dutch rules only from ebay.
Am i wrong and are these dutch auction rules normal so that i should have mentioned it?
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User705 is on my ignore list, obviously for good reason. He's probably just weaseling out of the bid, nothing more.
It's been a while since I suggested such, but every auction should probably have something to the following effect:
"If you have are not yet a Full Member (3-coin forum rating), or have a negative trust rating, or are on my ignore list, your bids will not be counted unless a full backing payment to 1XYz1234568lhugfTGfkif22334 accompanies your bid. Any bid increases by such individuals must also be paid in full before they are respected as real bids. If such bidders lose an auction, all sent coins will be refunded to the address they were sent from."
Yes... there are a couple of rules and suggestions that could/should be included into the tutorial to make auctions work better. |
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I have just one question for FC (or anyone else who can answer authoritatively): where are the dividends from hardware sales? I was kind of expecting them a couple weeks ago, then I was really expecting them last week. Now I am totally uncertain when or even if they will ever be paid. I suspect a lot of other shareholders (and former shareholders) are in the same boat.
I think he paid them out already. The cubes most probably have a thin profitabilty now anymore since its gen1. So lets say 3000 are sold for a profit of 0.1 BTC makes 300 BTC in total for one week. Not so very much. At least thats how i think it worked. |
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What hinders me to use an email address i know is attached to your Asicminer Shares, fake an email coming from that address and move 300 shares to one of my addresses? Even when one doesnt know this email. The chance is high that the user is showing that email somewhere and isnt using a special email for this.
I think thats a high risk. I no longer submit my requests like most people, so it would stick out like a sore thumb, but I'm not your average shareholder in that sense. Otherwise, I agree, FC could get duped if he isn't careful. Being that no one has pulled this off yet, I suspect he is. (This sounds like a good POLL question. However, it could be moot once the blockchain-based exchange is up and running...) Yes, i can be specific with my own signature. But if i already gave out a signature to someone other, or even posted it somewhere then someon could go and try to use this signature.
Don't do that. That security mistake is yours, not FC's. If you have careless sigs out there, move your shares to a new address, simple as that. I would expect that friedcat would solve problems that occur out of his failures from his wallet. So i think the problem isnt so big. Regarind signatures... it was an example. But how many signatures did you get by pm? Or found them in the forum? I guess its many. And many of them didnt thought about the possibility of them being recycled. This could only be prevented when both the signer is using only specific messages and when friedcat is demanding specific messages. Everything else is risky. |
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I'm open to using you as escrow. Have you provided this service a lot in the past?
I escrowed already more than 2,000 BTC and ran a groupbuy for avalon chips where i had 4,816 BTC in total in escrow. @VE... im impressed how hard you work for cheap shares...  That's it? Yes... i cant bid more than these $7Mio... sorry...  I'm open to using you as escrow. Have you provided this service a lot in the past?
I escrowed already more than 2,000 BTC and ran a groupbuy for avalon chips where i had 4,816 BTC in total in escrow. @VE... im impressed how hard you work for cheap shares... Lol. you don't seriously believe that VE wants to buy shares, do you? He dumped a shitload relatively high, and watched this failstock go down down down without touching it. And now that shit has really hit the fan, you think he changed his mind? How wacky is that  His arguments are so made up, his fantasy goes wild about hidden mining farms... its hard to imagine that he fights this way without having something in mind. Otherwise he would be some grumpy whinger that likes to grumble. Will i really believe something so useless? In a campaign that goes on days? Ill give him the benefit of the doubt and will think he sees the potential and would like to get shares for cheap... |
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Thanks ThunderSheep for the explaination. That's the strangest statement I've seen. Maybe it's a language barrier. In your example the bidder would not get to buy items at a price below somebody else's bid and I'm not asking that either. In any auction I can call an auction house and leave a maximum bid with them. When the auction occurs the auctioneer bids for me at the proper bid increments until either someone overbids me or I win but at no time does the price magically jump to my highest bid if there isn't a bidder that bid one increment below me.
Im not ebay. I never stated that there will be steps in between or something. I never saw an auction here on the forum that worked this way nor do i know that sothebys would lower bids until 1 Euro above the previous bid at the end. You saw the bid status all the time too. So i wonder why you now await to get a discount because lower bids won too. I stated bids are binding and you gave your bid. If there were such rules that the winning bidders only pay the lowest winning bid until overbidden i would have stated this. Normally one bids high to ensure that he gets the item and is not overbidden. That is the same in all open auctions i know. Only ebay has another system running. |
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Why would you not be able to reinvest mining profits into making more chips?
You will be able but it would be far less effective. Imagine: Day 1 Order new miners in the worth of 100Bitcoins They reach soon. Day 1 Mine 1 Bitcoin... Day 2 Mine 1 Bitcoin... Until you have collected enough Bitcoins to make worthwhile reinvestment it takes way more time than if you could turn your miners in profit instantly, order more, sell them and so on. Having the mining income of 2 or more months in an instant brings you big advantages. And the bigger you can create an order of new miners the cheaper they are. No comparison to make small orders each 2 weeks after you collected a couple more bitcoins with mining. Ken has a personal mining farm but we won't see any of the profits. This is why he makes no mention of it. Can't wait to meet the son of a bitch.
Funny how hard you work to spread your phantasies. Its so random what you claim here... hefty. |
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At the end the government had to catch him together with only a couple of smaller investors. But the big investors didnt care.
Because the big investors didnt lose money, they made money off Pirate's scheme. I cant believe that since such a scam only can work if the majority of the money remains in the system. When all the big players would have ended with a win then the system couldnt have played out only on the backs of the small guys. What happened to pirates BTCs btw? Did he gave them up after being arrested?
As far as i know he is still in status of being sued. I prefer to hunt this guy. And i cant believe how he can think that he can get away with the bitcoins
all talk about getting revenge, why wakeup now? i saw some post about theswede75 'co-operating' he's laughing hard at 1,000+ btc profit. of course an investigation could already be underway some months ago, doesn't mean you will see your balance recovered. this is unregulated free market where nobody's here to hold your hand, you got what it said on the tin Revenge? Maybe partly. I would like to see him get a reward for this. But i cant see all this scams in the bitcoin community anymore. I would like to see those guys jailed so that scammers will think twice before doing such stunt again. It would be nice if these scams become less because they learned they arent invincible. TheSwede75 did make 1,000 BTC profit? Where do you have this from? Thats plain stupid. In fact he made a big loss. So if you cant come with some evidences or hints you shouldnt propagate such things. I doubt i will get my BTC back. Thats not what im doing that for. Even with half the ipo it would be so few back that it wouldnt make much sense. But kicking scammers is something that would be worth something. And i dont want to get my hand hold. But i wont hold the hands above such persons and do as like they were smart to scam others. Scammerprotection... as if... |
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I'm open to using you as escrow. Have you provided this service a lot in the past?
I escrowed already more than 2,000 BTC and ran a groupbuy for avalon chips where i had 4,816 BTC in total in escrow. @VE... im impressed how hard you work for cheap shares... |
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Example 1:
Bitcoin worth $120
10,000,000 shares are priced .0015
this means that Ken would have to PROFIT $1.8 million dollars to give us .0015/share
Example 2:
Bitcoin worth $1200
10,000,000 shares priced at .0015
this means that Ken would have to PROFIT $18 million dollars to give us .0015/share. This now makes the share price worth .00015 because you have to earn 10x as much fiat.
The only way to make the insanely high Bitcoin value work for the share price is to turn this into a mining company and bring in some bitcoins with this hardware instead of selling machines. Obviously Ken won't talk about mining because he wants to take that half of the business for himself
Then what a luck that bitcoin miners still mine bitcoin isnt it? I only see one point where Ken is failing. He is selling the miners way too cheap. Of course i dont know how much time it needs until the miners get delivered but judging from the bitcoin price its way too cheap. And i dont understand why he is doing that. Maybe he knows that the miners will be delivered late? The $9000 Miner, when it starts mining on january the first will make a profit of $22,000. When it starts on February its $4400 only anymore. So maybe Ken knows more than we know and its still a good price to sell the miners instead self mining. If you ever bought a PMB you would understand that mining is not where the real action is. Especially as difficulty goes up and rewards get halved. Price will have to constantly rise as we know....is that guarenteed .....no. Even in 1849 the miners wernt the ones who became overwhelming rich.....it was the guys that sold the picks, pans ans shovels. Bitcoin is no different...ACTM will be selling the tools of hope....lol and with a small farm that may spout a div every now and again. Anyone with experience in the operation of a PMB knows this. Its like dating a supermodel....there's a lot of maintenance to keep that lady performing.
Right... even when a miner looks relatively promising... after you checked future diff development, the time when the miner starts actually mining and so on... it might look way more risky already. And... having the same bitcoins in hand now instead having the same bitcoins in 2 months of mining makes a huge difference for business too. You can reinvest that money to create more miners. You couldnt do this with self mining... So selling has many advantages for a business. |
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... Quick question that was raised before by me. There are some overbids here and in general auction rules they simply get filled at lowest available price. Original description doesn't mention that. OP can you clarify how you see it please.
Im not quite sure if i know what you mean but there are 34 bidders that lost their shares completely and didnt bid back in. One guy lost 2 of his 3 shares. I still have this list of dropped out shares. If you mean something different please explain more detailed. There are a few bidders myself included who have a bid that's above the .32 needed to win this auction. I personally bid higher in order to not have to keep checking and also to be the 1st bidder at that level if it would have gotten that high. In general auctions it's called an absentee bid. And generally if a bidder wins an absentee bid they don't pay the max price they bid but pay the minimum price it takes to win. I never heard of that. If that would be true then anyone only would place a bid for 1 share at 0.32, 0.33,0.34,0.35 and 100 shares at 2btc. At the end he can be sure that the lowest bid is somewhere in the range he bid on 0.32-0.35 and with the 2btc he ensured that he gets 100 shares for the lowest price. I cant possibly imagine that this is used in an auction somewhere. Normally you bid higher to get the product you want for sure to not being bid out. Doesn't Friedcat usually keep an email address associated with the Bitcoin address as well? At least that's what was needed when dealing w/ share x-fers w/ Burnside + TAT... I think you might need to collect some email addresses as well: https://www.havelockinvestments.com/fund.php?symbol=AM1-S Yes, it is in your best interest to include an email address in your registration with Friedcat. I now sent a pm to all winners to ask for an email i can give to friedcat. |
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Doesn't Friedcat usually keep an email address associated with the Bitcoin address as well? At least that's what was needed when dealing w/ share x-fers w/ Burnside + TAT... I think you might need to collect some email addresses as well: https://www.havelockinvestments.com/fund.php?symbol=AM1-S Friedcat keeps email addresses in his list but its not needed though he prefers to have this data. If someone wishes i can give the email address to friedcat too. Simply send me a pm then. Quick question that was raised before by me. There are some overbids here and in general auction rules they simply get filled at lowest available price. Original description doesn't mention that. OP can you clarify how you see it please.
Im not quite sure if i know what you mean but there are 34 bidders that lost their shares completely and didnt bid back in. One guy lost 2 of his 3 shares. I still have this list of dropped out shares. If you mean something different please explain more detailed. |
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There is simply no way you can upgrade a chip infinitely by software only. Unless you cripple it at first of course.
Yes. And i cant see how a software at all should be able to raise hashrate by 20%. Maybe the previous software was poorly coded? But the chip design had to be changed? There should be no shortcuts available in hashing. So i only can imagine they made a bad hashingsoftware better. Thats all. And for some reason the chip design had to be changed to work with the new code. VE is right on this. Whether Intellihash was implemented or not. We could have had nondelayed chips && intellihash. Now we have delayed chips && intellihash. It's not an either or.
No you cant. If you create 2 types of chips you have double NRE-Costs. Mask creation and so on. So that would work only with big losses. I tend to believe that Ken was able to judge what route would bring in the best return. I mean he for sure knows of the diffi updates all the times. So i think the change in asic design will not mean a very big delay in time. He knows he has to deliver and he cant sacrifice weeks only to gain 20%. and you're not getting that the chips are delayed. Most damaging announcement to shareholder confidence ever.
This is surprising to you? I would be surprised when a bitcoin asic venture would run exactly after the timeframe that was planned before. Let's do some simple math.
Ken has recently made it clear he does not intend to mine very much at all, and only intends to make money via hardware sales. This means we would have to generate 10x as much profit to reach our .0025 target as we did when bitcoin was $120.
Look.
.0025 x 10,000,000 = 25000 BITCOINS of dividends.
When BTC was $120, that was $2.7 million dollars...
but now that BTC is $1200, $27.5 million dollars of profits is needed to pay off .0025 dividends.
This is why it BLOWS MY MIND that Ken would be so focused on hardware sales. The only explanation would be that he is definitely interested in mining, but doing it behind closed doors where he does not intend to share the profits with us. Why do you think he didn't mention mining ONCE in his announcement?
What do you mean? Profits are profits. Getting $6000 now in Bitcoins or getting $6000 2 months later in bitcoins can make a big difference in the amount of bitcoins you get. And even when he would sell a miner for only 2 months of mining income... it still would mean you have 2 months worth of mining in a couple of days instead having to wait 2 months for it. That brings completely different opportunities. So i dont really get your logic behind looking so bad about the selling plans. You calculated the prices and mining income for the VMC-Miner? Depending on the delivery date the buyer takes a not small risk. It can be fast at the point where it never makes the buying price back. Selling for a good price is definitely much worth on many levels. |
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I do escrow. See my signature. If the seller doesnt go through, once the shares are on the exchange, he can get a negative trust. Only problem i see is how to prove that he owns the shares now? Did he sold them on bitfunder at the end or did he move them to AMC-TENDER?
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How's the mixing of our money going, Sammy?
Open theft is something new for you, isn't it?
You've been able to hide behind your staggering incompetence in the past, but that's not going to work now that you just stole money in front of everyone's eyes.
Thanks for that, now everyone knows *exactly* what sort of thief you are. It's not "theft" when you willingly give LabScam Sam your money BECAUSE GREED AND AMAZING COMPANY AND #REASONS.What about your own "staggering incompetence?" Care to address how you managed to cluelessly ignore the hundreds of posts warning you constantly for months? Because you are so emotional, you can't simply accept your loss and move on. You have to continue your BitchCycle, even though you know it will accomplish nothing. ALWAYS BET ON iCE...Oh please. Not this scammer protecting attitude. Of course investors are to blame for being too gullible. But im happy that the time changed and people want to hunt down the scammer. I never understood the scammed ones after pirateat40 that didnt want "throw good money after bad money" and would have let him go. At the end the government had to catch him together with only a couple of smaller investors. But the big investors didnt care. I prefer to hunt this guy. And i cant believe how he can think that he can get away with the bitcoins. Dont he realize that bitcoins are a global currency? Everywhere he is trying to hide is a bitcoiner. So no, i dont understand what he does. And i dont see why you try to hold your hands above him Ice. |
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You wrote something about signing in your message. Do you want a specific message signed or was this just as a hint to us in case we ever want to sell them?
It was only a hint since it might be needed at some point that you prove that its really an address you control. Regarding signatures... please be cautious with it: https://bitcointalk.org/index.php?topic=353708Its only a warning. I dont know of a case where it has been misused. But i see the potential for scam in it. Heh, are you saying we should have asked YOU for a more specific signature? You didn't include a date... :p No... i dont need a signature at all. I only need a bitcoin address and the payment. But the bitcoin address should be an address you can sign a message with so that you can proof you control that address. The post about signatures is only because i got and gave a lot signatures and i noticed that a lot of them are dangerous and could be recycled by a scammer. It was only a hint to be cautious in case you really create a signature sometimes. But nobody needs to send me a signature now. |
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You wrote something about signing in your message. Do you want a specific message signed or was this just as a hint to us in case we ever want to sell them?
It was only a hint since it might be needed at some point that you prove that its really an address you control. Regarding signatures... please be cautious with it: https://bitcointalk.org/index.php?topic=353708Its only a warning. I dont know of a case where it has been misused. But i see the potential for scam in it. |
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Hello,
since i got and gave already alot signatures i want to warn about them. Giving out a signature should be considered. Posting it on the forum even more. Everyone knowing that signature possibly could misuse it and try to convince others that he has control about your address.
For example. You have an address and you give out a signature with only your username inside. Everyone that gets this signature to know could now try to register a very similar username at BCT and could try to convince someone that he owns your bitcoin address. If its on IRC one could even claim that this is proof he is the real one at bitcointalk.
Even worse if you only use a text like "This is my address with my Shares on it.". There is no specific info to you or a certain action involved.
In order to prevent this it would be best to only use very specific signatures. Such that only can be used for one purpose. For example "Trade between UserA and UserB for a Bitfury for x BTC on (date)". You cant really recycle that.
The same goes for someone/companies who wants to get a verification. Ask for a certain message to be coded. Thats the best way that you dont get a recycled signature. So the one asking for a signature has to be careful and the one that gives out a signature.
I mention this only because i often think that many messages that are signed could be recycled. I dont know of cases yet where this was used to scam but its best to have thought about that possibility before its misused.
Greetings!
Sebastian
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