Update:
Just a small update with the address signed so that there is less confusion and fud when pool mining is running.
Message: Labcoin mining address
Signature: HJRjzVPG3CC5OjInesByNcdfkI2kz6hONR3LjVUABUVDq03Z3ARcmEfdXWeJwzX0zUqoWkyx1rNjmps CuP8cWQA
Address: 17psAW21J4twanAFWmbcd5WdX2pKeX3trm
$ bitcoind verifymessage 17psAW21J4twanAFWmbcd5WdX2pKeX3trm HJRjzVPG3CC5OjInesByNcdfkI2kz6hONR3LjVUABUVDq03Z3ARcmEfdXWeJwzX0zUqoWkyx1rNjmpsCuP8cWQA "Labcoin mining address"
error: {"code":-5,"message":"Malformed base64 encoding"} The sig seems to be malformed. Can you please post the correct signature? Wow if they lied about that then it's game over. |
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You caught him.
But that doesn't mean it's purposeful. It could be that mining just didn't work when they tried it and had to stop. They did mention that it wasn't very reliable.
wait, wait, wait. How is saying "we are mining" not purposefully lying when it is not true? He just said "when mining starts" That means mining hasn't started. Maybe they started mining but then the miner overheated and broke, or didn't work, or was unreliable. There are plenty of logical explanations for why they could have stopped mining. They promised a dividend so then a miscalculation. It's not exactly easy to deploy something like this, lets be real. |
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Of course anyone can create and sign an address, I do not expect this to do anything until the point that mining starts.
Finally!!!! Some truth! They are not mining and have not been mining since Sep 10, even though they stated otherwise several times!If they would lie for more than a week about so simple as to whether they are mining or not, how can we trust them that any of the MORE COMPLICATED promises will be kept? You know, like locking shares, paying dividends, buying hardware, assembling hardware, and mining with assembled hardware??!! This is, perhaps, the most significant piece of information of this whole thread. Not only have they lied directly to the shareholders a number of times, they covered it up, and STILL don't have anything to show for the vast amount of money invested in this venture. You caught him. But that doesn't mean it's purposeful. It could be that mining just didn't work when they tried it and had to stop. They did mention that it wasn't very reliable. |
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the address literally proves nothing as people have been stating, if they want to prove it how about showing us a picture of the hardware they are using to mine? KNC made a video showing their FPGA is it that hard for labcoin to do the same thing?
if people didnt know addresses that swede has owned had nothing more than a few grand worth of BTC and after the IPO there was around 900 then the dude is buying all sorts of stuff and trying to purchase a rolex (LOL btw pretty pathetic for someone with only a mediocre some of money to spend lavishly on things he can hardly afford)
Show us pics of mining hardware, if you are in fact minng this shouldnt be to hard to do,
It's very possible that they don't have that ability. Howard Wang is the team lead. Sam Noi is "Labcoin" and TheSwede is the communications guy. Howard Wang might decide for whatever reasons not to post pics anytime soon and that is fine as long as they post a username with their pool mining info so that it can be monitored. |
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Update:
Just a small update with the address signed so that there is less confusion and fud when pool mining is running.
Message: Labcoin mining address
Signature: HJRjzVPG3CC5OjInesByNcdfkI2kz6hONR3LjVUABUVDq03Z3ARcmEfdXWeJwzX0zUqoWkyx1rNjmps CuP8cWQA
Address: 17psAW21J4twanAFWmbcd5WdX2pKeX3trm
Nice job. When the pool mining is set up remember to follow the instructions from dexX7. Publish the user name. |
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http://bizcovering.com/investing/stock-market-chart-and-price-jargon-revealed/Price Movements
Tree Shakes – if you hold shares in a company and the price starts to drift downwards, you need to check two things. Firstly check the date and make sure it is not ex-dividend day – your share price will drop by the same amount as the dividend, and this is fine. Secondly, scour the news for reasons why the sp might be dropping. If you can’t find any good reason, then the chances are that you are witnessing a “tree shake”. When a market maker is trying to fill a large institutional buy order, sometimes they may not have enough shares. They start to gradually drop the share price in order to “scare” people into thinking the company has a problem. Weak holders will sell up, and the market maker continues to drop the price until enough weak holders have relinquished their shares. The market maker then fulfils its large order and returns the share price to where it started. Be eagle-eyed for all news relating to companies you hold shares in, and you’ll be better able to spot tree shakes and not get caught out. I have to admit this actually makes sense, but I think its just incompetence. I doubt they are that clever. |
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So what would you have them do?
Either solo mine and receive fresh generated coins to a signed address or mine on a pool and publish the username etc. How long will you give them to do this? |
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Just to be crystall clear: The transaction of 0.0062166 BTC was not from Labcoin, but a demonstration why "posting an address and moving coins from another address" is not sufficient. See #11166. So what would you have them do? |
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Actually he said they are going to mine in a pool, so you can't see newly generated coins on that address.
I don't understand. Are they allegedly solo mining or pool mining? This is fuzzy: ... and users will be able to view the mined coins through pool and this address: https://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trmI have asked Sam to sign the address so that it can be proven without a doubt that Labcoin is indeed the entity mining. According to Sam the initial hash rate will be 'a few' TH and will be scaled up in the coming days as more miners come online. TLDR; Pool mining is being integrated and will be running in the next few hours (less than 12). Address provided above will be used for mining and will be signed as proof. Initial mining will be 'a few' TH and scaled up in the coming days. They claim they were supposedly solo mining with at least 2TH since 2 weeks ago, so we demanded a "mining address" to see all the newly generated block rewards. So after 2 weeks, finally they post an "address" that has zero bitcoins, now they conveniently switch to pool mining, which makes the "mining address" useless in terms of proof of mining. I bet they don't have a public stat page from the pool neither. It's possible that they tried to mine and thought they were mining when they made their update and then ran into some issues. Let's be reasonable. |
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Address 17psAW21J4twanAFWmbcd5WdX2pKeX3trm
First seen?: Never used on the network (as far as I can tell)
Received transactions: 0
Received BTC: 0
Sent transactions: 0
Sent BTC: 0
Hash160?: 4ade2df61ee1d7f0d89d46c9dc4ff1e7e1dd6f21
Public key?:
Unknown (not seen yet)
lol so the address we all waited for is an empty address with nothing? so labcoin got ZERO bitcoins from supposedly mining for 2 weeks with at least 2TH? If you have kept up with the updates, you would know that there have been some delays etc. The team is signing a clean address so that there will be zero questions that this is indeed the mining address used, and that all coins are indeed from the mining operation. I think to be fair, lets all monitor that address for a few days and see what happens. If they are mining on a pool then they'll have to get some coins within the next few days and if that happens then its evidence that its not a scam. Um no, mining address with newly generated coin is proof, ONLY if they were solo mining which they claim they were. For pooled mining, only proof is public stats page. Having bitcoin sent to their mining address is NOT proof at all. There is an address. If the address generates even a single Bitcoin that is proof. |
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I am going to let the mining speak for itself when the pool merge is complete. I would like to note however that even with 5+ TH solo-mining it can easily take 2+ days to find a block due to variance, hence the move to pool-mining.
Well, you have had 8 days since Sep 10, when you claimed you were mining with 2TH/s, so plenty of time to have at least 25 btc in that empty address you just posted. We suggested you move to pool mining, then, why did it take a week of missed revenue to do it? They probably had issues with deployment. It's certainly possible and for once they are admitting it which is an attempt at transparency. |
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Address 17psAW21J4twanAFWmbcd5WdX2pKeX3trm
First seen?: Never used on the network (as far as I can tell)
Received transactions: 0
Received BTC: 0
Sent transactions: 0
Sent BTC: 0
Hash160?: 4ade2df61ee1d7f0d89d46c9dc4ff1e7e1dd6f21
Public key?:
Unknown (not seen yet)
lol so the address we all waited for is an empty address with nothing? so labcoin got ZERO bitcoins from supposedly mining for 2 weeks with at least 2TH? If you have kept up with the updates, you would know that there have been some delays etc. The team is signing a clean address so that there will be zero questions that this is indeed the mining address used, and that all coins are indeed from the mining operation. I think to be fair, lets all monitor that address for a few days and see what happens. If they are mining on a pool then they'll have to get some coins within the next few days and if that happens then its evidence that its not a scam. Also Swede just came clean and admitted there have been delays. |
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Do we have an end date for the IPO?
A failure to raise 9500 BTC by Saturday 30th November would constitute a failed IPVO. With all proceeds being returned to shareholders, otherwise the shares will remain up for sale. They'll probably raise 2/3x that. |
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My guess is the 130nm chips didn't pass testing and are faulty. That would explain the full month setback. I suspect that might be the case as it would explain their creepy behavior. If it is and management is going through all these contortions to hide this fact then there's no reason to hold shares. Their 65nm chips are still a ways off and management has already demonstrated a disturbing lack of transparency. If you held this long and you know for certain its an issue they can fix within a matter of weeks then why not hold for another few weeks? I don't see a point in dumping at a loss when you can hold and know for sure its not a scam. The issue is people would rather know the chips didn't pass the test and failed than to not know anything at all. If the chips wont work until October 30th that would be perfectly fine as something could be arranged. They could do what Ciphermine is doing and offer a bond/loan and let investors buy that instead of shares and then use the bond/loan money to fix the problem with the bad chips. They can produce more chips to make up for it or outsource deployment. My guess is they messed up on the deployment side and on the chips. My guess is the chips don't work but they are stuck holding millions of dollars and not knowing how to explain that the chips don't work. They also probably don't want to alert the competition that the chips don't work. Transparency would be better here but there may be cultural differences. Chinese culture is very difficult in this. |
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Maybe I over reacted a few days ago. It's possible that Sam Noi and TheSwede don't know whats going on. Who is Howard Wang? He's like a Satoshi Nakamoto, no one knows for sure if he exists at all but he's the team lead. It's probably a situation where Sam Noi receives instructions from Howard Wang on progress and then it gets passed to TheSwede.
For this reason it's best to hold. Still wouldn't buy it, but its stupid to dump it if you have a lot of it and waited this long, and even more stupid to dump it if you have a very small amount. This is why I think most people are holding or buying in small amounts.
I think most people can stand to wait until October 30th.
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Even friedcat, who set the standards in Bitcoin mining, has recently experienced a few weeks delay on ASICMINER's new blades! So I'm not surprised that Labcoin needed extra time to tweak everything. Despite everyone's best efforts unplanned issues can occur. The short term share price fluctuations due to FUDsters trying to pump and dump does not concern me, as I'm in it for the long run. Only about 20% of public shares were traded during the recent "crisis". This official update was posted only 4 days ago, and it has been buried with 135 pages of FUD!!! UPDATE: The Labcoin team is current tweaking boards and preparing for prodution
roll out of mining operation. Public mining address/Pool name will be released as soon as the mining operation reaches a stable hash rate. We are aware a lot of people are waiting for a address or pool name where they can follow the hash rate and this is a priority, however Labcoin also does not want the same kind of 'hysteria' that surrounds ASICMINER every time pool rate drops or increases. Once the miners have been deemed '100%' and can reliably mine 24/7 hash
rate will be made public and a new website will be launched where shareholders can follow the growth in hash rate. The 130 nm Chips run at approx 1.8 GH/s and the boards are still being tweaked and tested so that once full production roll out starts
(approx 1-2 weeks) they will mine reliably 24/7 Labcoin has already ordered and will take delivery of OVER 100,000 chips with accompanying boards and controllers for miner production and rollout through the month of October. Within 20 days (early Oct) approx 20TH will be online. Hash rate will then progressively reach over 50TH of mining power during the month of October as miners are brought online. The mining operation will then be scaled up as miners are deployed and will reach and pass 100TH+ in November to reach 500TH during the
month of December.Other news:
Gen 2 65nm development is on track. Due to the fast increase in network diff Labcoin will likely not sell or ship volume 130nm orders but rather work towards quick tape out and first run of 65 nm for bulk customer orders and consumer miners. The 130 nm chips are still highly profitable for mining in datacenter in China due to the short lead time and availabilty of resources etc. Labcoin sees no reason to risk shipping chips at this point when the team can just build miners on-site in China and reach very high revenue mining with the chips instead of selling them to end users. TLDR; Miners are being tweaked and tested still and deployment of
'significant' hash rate will be happening in the next two weeks, to reach
approx 20TH within 20 days. During October 50TH+ will be rolled out, to
reach 100TH+ in November and 500TH during the month of December.
65 nm is on track.I will also post pictures of board and chips in about 2minutes. Edit: here are chips and boards. http://imgur.com/4yuBc9ATo clarify. Hash goal for Dec is 500th+ and that is from chips that are already ordered using IPO funds. Short term goal is 20 TH within 20 days, 50TH in Oct and 100+ in November. We consider it likely that we surpass both Oct and November goals. This also means they wont be able to send any chips out for the community to test just to see if they really work. My guess is the 130nm chips didn't pass testing and are faulty. That would explain the full month setback. |
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I actually created a script that sends a message to my phone whenever Labcoin comes online, as well as hourly labcoin updates (bid/ask and profit).
How is the message sent to the phone? Email or actual sms? Code it to send out a tweet for the rest of us and post the twitter account so we can follow it. |
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Dividend day was previously miscalculated, i apologize, expect the first payment on Tue 24/9 and mining address proof in less than 24 hours as promised.
w t f! even if this is real and not a scam............................. w t f? at least give some kind of reason for this "fuckup" |
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Dividend day was previously miscalculated, i apologize, expect the first payment on Tue 24/9 and mining address proof in less than 24 hours as promised.
Why choose now to say that? Miscalculated? You had no information but then when the stocks crash now you come up with another random date which just happens to be a full week from today... Just one more week, just one more day... |
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