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We want to reassure all investors that the pictures are indeed real and the tray shown is loaded with our chips, also shown are some blades of the miner kit without the controller board.
Labcoin
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STILL no mining address posted, no pictures, no NOTHING.
And now they suddenly have chips for 10TH out of NOWHERE? Their foundry just decided to throw another 10k chips out now because shareholder are scared right?
Jesus fucking christ, who the hell is still buying this?
We do not have 10 TH of chips out of nowhere, we said that we will setup block labeling as soon as we reach that speed, which could be on the first days of october, so in "about" two weeks, or mid october. We will outsource deployment and assembly for the next batch of chips so that we will proceed at a much faster pace in the future. |
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Thanks for the update, we understand that a daily update isn't feasible. But is there any way to get a better flow of information to your investors?
We will soon work on improving our communication with investors, the huge difficulty increase forced us to prioritize other tasks. When will the 10T be reached? Next month???
We estimate in about 2 weeks. we're very confident that within a short time, shares will be valued what they are really worth
This is one thing we can both agree on This is exactly what a naive investor needs to hear to ride on the scam train. Well played Labcoin  This is an absolutely legit operation and many of those calling us a 'scam' will have to eat their words. |
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We promise pictures of some boards mining will be up for this weekend.
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We're sorry for delaying but we're struggling with deployment operations and time is money, we have to set priorities according to our goals.
It is in our interest to keep the shares price rising but we're very confident that within a short time, shares will be valued what they are really worth. We will post board picture and more within the weekend, and as soon as we reach 10 TH of deployed hardware block labeling will be mirrored on the site with other stats like speed, etc.
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As said, this is a legitimate operation, and all signs should point at that if you ask your common sense.
Our initial board design is quite rough while very functional, and pictures will be posted rather soon.
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LOL... you guys are a joke... if this is a scam, these are the worst scammers EVER. They should have run the day after the IPO instead of answering your questions here in the forum.... it's like a bankrobber that has $10 Million in his bag and decides to stay to chat with the bank employees and see if he can steal their watches too... Better. They announced a lower hashrate than initial. I doubt a pure scam would do such. Still like to see some proof of work though. Not selling. That could just demonstrate how well they are running this scam -- they drop subtle hints like this to make you think they are legit, but don't provide easily verifiable evidence like mining on a pool to show they are at 2TH/s. The same concept applies to doing the percentage IPO instead of taking the money and running, because then they can later manipulate the market with unlocked shares. I agree the choice of language and convenient answers are very much red flags to me. Time to get out with some profit boys. Please don't get burned. ActM is a healthy investment alternative in a real company who are very transparent and will provided all the answers you want as the boss and the advisory board are always available on irc to chat. We don't hold grudges and are ready to welcome Mabsark back into the fold a little sooner than he was planning.  We think we gave enough evidence that our company and achievements are real to avoid being labeled as a "scam". Our company is sitting on valuable hardware and intellectual property and we're confident we will delivery nice performances to our shareholders. We will work on improving our communications as we settle on our final premise and have reached stability. |
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Labcoin: What is the reason for the drop from the original estimate of 6Th/s to 3-4Th/s to now 2Th/s for this initial batch? Is there a problem with heat?
Not really a drop to 2 TH, this is roughly the speed we're mining at now, it will reach 4 TH next monday. The drop was from 6 to 4 TH and was caused by some underperforming part of the batch. when do we expect a dividend? somewhere this week? So 2 weeks till we start seeing divs?
First dividend payment is due on tuesday 17 September |
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Labcoin: What is the reason for the drop from the original estimate of 6Th/s to 3-4Th/s to now 2Th/s for this initial batch? Is there a problem with heat?
Not really a drop to 2 TH, this is roughly the speed we're mining at now, it will reach 4 TH next monday. The drop was from 6 to 4 TH and was caused by some underperforming part of the batch. |
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The chip picture may present some artifacts due to rough chip packaging commanded by hurry to get the IC delivered.
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The team is scattered on various countries, thus we have to coordinate to release anything. I'll see if i can get a screenshot of the hashing rate or something, but more pictures will be posted in the next few days, we will deploy the same mechanism ASICMINER uses for signing found blocks and publish them on our website.
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And here it comes, finally, today we are proud to announce the starting of mining operations in time with our roadmap.
The last week has been extremely busy and work is still in progress to bring online the whole hashing power.
We're currently averaging about 2 TH/s in solo mode, and expect to deploy at least 4 TH by monday 16, to reach gradually 50 TH within October.
The website will be updated this week in order to show our live hashing rate and dividends will be paid every two weeks.
More pictures of the laboratory setting where the hardware is currently deployed will be also distributed. Complete installment will be shown when our final premise will be ready. We're still considering some business aspects, including only focusing on the upcoming 65nm version for what concerns bulk chip sales. We plan to take a final decision regarding this issue during the next month.
We want to say thanks to all investors who trusted us during this long endeavor.
We will be here for about one hour to answer questions.
Labcoin Team
Great to hear that you're there for answering questions: 1. What pool do you use? Mind to share a link to follow your hashrate?We're mining in solo mode but live hashrate will be shown on our website next week. |
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And here it comes, finally, today we are proud to announce the starting of mining operations in time with our roadmap.
The last week has been extremely busy and work is still in progress to bring online the whole hashing power.
We're currently averaging about 2 TH/s in solo mode, and expect to deploy at least 4 TH by monday 16, to reach gradually 50 TH within October.
The website will be updated this week in order to show our live hashing rate and dividends will be paid every two weeks.
More pictures of the laboratory setting where the hardware is currently deployed will be also distributed. Complete installment will be shown when our final premise will be ready. We're still considering some business aspects, including only focusing on the upcoming 65nm version for what concerns bulk chip sales. We plan to take a final decision regarding this issue during the next month.
We want to say thanks to all investors who trusted us during this long endeavor.
We will be here for about one hour to answer questions.
Labcoin Team
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Deployment is proceeding according to plans and pictures of the devices will be revealed later. Hashing will start on the promised date.
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As we already stated, chip documentation isn't ready yet for public distribution.
We will start distribution to third parties when hashing power deployed will meet the goals we have set. This is our top priority right now.
We want to mention that we have received interview requests from several well know parties, CNN and Bloomberg being the most prominent and late progress with our 65nm design lead us to believe we will deploy 200-300 TH within 2013.
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For the test run we opted for QFP packaging, 44 pin, no exposed heat pad, here is a small preview :  |
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Status update
We have received the first chip batch and we're working full speed on finalizing the controller board design, mining will start no later than 10 September with about 3-4 TH, and to reach the full speed within October. Dividend payments will start on the same week.
We again remind everyone that the team shares won't be sold. We understand the investors concerns and we will be publishing pictures of the installment as soon as we are able to, before mining will start.
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Bingo! The shares should not have been rendered. What incentive does the company have to work at all if they can just sell all their own shares?
Come on, TAT. Plenty of companies have founders that are able to sell their shares. Larry and Sergey didn't cash everything out when Google IPO'd, did te Labcoin has been posting on the Mining forum for a while and they've got a strong incentive to make more money off of the appreciation of their shares than to sell now. Though I don't think the Labcoin team are quite comparing themselves to Google ( Yet  ) this is the way they see it. That said, I will talk to Sam about some form of solution that allows for more transparency when it comes to the Founder shares. I have a question for the Labcoin team which many others probably would like the answer to as well. What are is the first year's forecast profit range? Can we have at least an indication on how much these shares could be worth so that we resist pressure to sell? We did not sell any part of our stake in the company and we are open to audits on the account where founder shares are stored. It's very likely that share price will rise in the near future, as we bring online our mining farm. It's kind of hard to make forecasts about the first year profit as there are still too many unknow variables, for now we're focusing on bringing gradually our first 30-50 Terahash/s online, we plan to complete this goal within October 2013. Chip batches and finished mining Hardware sales will follow shortly. |
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Correct, the first batch of ICs is meant as a test for our design. Delivery is expected in mid September, in quantities of several thousands pieces.
We expect to have the boards up and running within 7/10 days after we receive the ICs.
65 nm design is currently under development and is expected to go on tape-out in late August or early September.
So you are not even going to wait to see if the 130nm chips work before going ahead with the next generation? Are you that confident? All tests and simulations show that we can be confident on the quality of our work, additionally, we will use this run of 130nm chips to deploy our own mining power and fine tune the hardware, before going for a larger run. The 65nm design is expected to be ready within the mentioned timeframe, but it's not guaranteed to, we will take the best decisions according to how events will unfold. |
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