should someone be trying to physically locate/visit these places which are possible Labcoin connected..?
I will be in Guangzhou on the 23rd of October, and I can also go to Shenzhen and Hong Kong.
Is there anyone willing to meet up and do some investigating?
EDIT. didn't Samuel Noi say he was going to be in Shenzhen in 10 days..?
I'm willing to meet up with him.
It would be fantastic if someone could at least meet up with Sam for coffee or some such. Would allay a lot of fears, I imagine. Being able to see the boards in person would be ideal. if we could some how make this happen, I'm available from 23rd of October till the 5th of November. I can go to Guangzhou/Shenzhen/Hong Kong. |
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should someone be trying to physically locate/visit these places which are possible Labcoin connected..?
I will be in Guangzhou on the 23rd of October, and I can also go to Shenzhen and Hong Kong.
Is there anyone willing to meet up and do some investigating?
EDIT. didn't Samuel Noi say he was going to be in Shenzhen in 10 days..?
I'm willing to meet up with him.
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If I find a block mining in a pool, is the bock that my miner found solely work submitted by my miner only, or is it a combined effort with all pool members/miners.?
I'm asking because I have been mining in a pool with 30GH/s for 34 days and my miner has found 2 blocks. Is this combined effort or just my miner.?
you miner gets unique work from the pool, which you try to hash to a solution for the pool, in your case successfully 2 times  thanks for your reply could this have the same outcome if solo mining..? |
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If I find a block mining in a pool, is the bock that my miner found solely work submitted by my miner only, or is it a combined effort with all pool members/miners.?
I'm asking because I have been mining in a pool with 30GH/s for 34 days and my miner has found 2 blocks. Is this combined effort or just my miner.?
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this guy is online now, has someone contacted him..? EDIT I sent him a message in italian asking for his help.. We'll see if he replies fabrizio89 has replied my message and he replied saying that he's got no involvement with Labcoin and even doesn't own any shares. |
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anyone with more than a dozen jupiters shoud srsly consider donating one to ckolivas, even if its only 'temporary' while he irons out the kinks...
if anyone can get us in the 4 figure hashrate, its him and or kano.
but then my post will probably be modded away so the real shitwaffle barons' crud doesnt get sidetracked...
Which country are they located..? is one of them in Australia..? |
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If I find a block mining in a pool, is the bock that my miner found solely work submitted by my miner only, or is it a combined effort with all pool miners.?
I'm asking because I have been mining in a pool with 30GH/s for 34 days and my miner has found 2 blocks. Is this combined effort or just my miner.?
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Let's cool down.. I came here to ruin the fun. Bitfury chips are 55nm and do <0.7 W/Gh. KNCMiner chips are reportedly >1.4W/Gh.
I'm just wondering as I really have no idea, how much would an equivalent miner (in terms of GH/s) from Bitfury cost? $8000 for 400GH/s October delivery. With 'pencil mod' you can get over 500GH/s. Actually with pencil mod / changing R01F resistor, you can get atleast 30% more hashrate from the unit. The old pencil rubbing trick, I used it couple times this month I already bought myself couple boxes of HB pencils... Gonna be rubbing pencils all over my jupiter... wow another 30% increase for a wopping 780GH/s /joke |
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this guy is online now, has someone contacted him..? EDIT I sent him a message in italian asking for his help.. We'll see if he replies |
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this is it.... Amazing Company... great launch video... thanks Orama... oh did I say THANKS Orama and of course thanks KnC what a machine...   just beautiful  |
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let him talk and identify himself...
if he's serious and just got big problems with hardware then he's got nothing to worry about revealing himself.
reveal yourself and tell us where are you located..?
Would you let members view the boards and chips and try suggest how to save the situation.
Where are you and would you meet up with investors of Labcoin? When and where?
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Yeah. At the same time, though I think LC could use a board to oversee what's going on. And also offer assistance and in terms of how to manage things.
One of the reasons why the share price is in so much trouble is the rising difficulty. If this was a year ago, it wouldn't be much of a problem if they got delayed by a month or so. ASICMiner had issues as well. B1 Avalons were delayed a month or two, but their owners are still pretty happy.
The problem now is that with KnC, Cointerra, and the like there's not much room for error, before bitcoin mining becomes unprofitable.
The difficulty is not such a big problem here because this is not a normal mining security. This is a security that owns an asic design. That means they can create miner at cost. Thats fundamentally different to securities that have to buy miner for nearly enduser prices. Those last securities arent much better than when you buy hardware yourself. And you know it wont be a big success. But securities like labcoin can create the miners at cost and on top they will grow the mine. So the difficulty isnt a big problem. I admit... i invested in 2 other normal mining projects, that dont own their own design, in the hope that the previous patterns of other mining securities are repeated. They went up and then slowly dropped. But since all the panic is going on in all mining securities now this wont work anymore. My bad. But companies like labcoin, that own their own asic design, are different. Regarding the scam claims... they didnt run with the money because they wanted to earn more later? How that? I mean they still have 2million shares. Where is the sense when this would be planned as a scam? It would have been so easy to fake a miner. I could do this myself. Then when the shareprice is rising sell the 2 million shares. Easy as pie. Instead they post unfortunate news and know that it makes the price drop. So they are bagholding scammers? Really? If this is a scam then its a scam done exceptionally bad. I guess it could be a scam and they just fucked up in typical Labcoin fashion. I got that thought too... but then i think... every kid could have made such a scam a success. The difference to scams like pirateat40 is that pirate was still earn more than he paid out all the time. When this started to change he stopped paying out. With such a security that wouldnt make much sense. The IPO-Money would be what counts. Everything above that would be to pump the shareprice high so one could sell the shares the security issuer owns. It looks like that didnt happen. And they did exceptionally bad to push the shareprice. I mean they knew exactly when they will post bad news. They posted it and still have their shares. It would be the best time to sell them before. Or even fake a miner hardware and fake a cgminer screen output. Easily doable. Instead they post more and more bad news while bagholding their own shares. That means they either believe in the divs of the project or, if still seeing a scam, they want cheap shares. But even then... they could post news looking way worse. Or not speaking at all. Then the shareprice would be even way lower. They could buy shares with a sockpuppet account since they know it will succeed. So either way i look at it... it doesnt make much sense as a scam. I like to think you're correct. I wouldn't know if they are a scam or not, but one thing I can remember when Labcoin (Samual Noi) first created the original Labcoin thread and presented this project he was involved in... and he wasn't looking at IPOing the project but he was looking for private investors, or angel investors - I can't remember the exact words. But what I can remember was that forum members here suggested it would be better to IPO as there was huge amount of interest in the project. Can anyone else remember this in the beginning..? Also my impression at the time, was they didn't seem like professionals, especially at IPO's... that's where theSwede comes to the rescue... REMEMBER.  So, what I'm getting at, is that this wasn't a scam intentionally, but this was a creation that evolved from this forum and everyone in it including myself. I think that Samual Noi maybe genuine would like this to work out, but unfortunately he don't have a clue and is in over his head. You also have to look at the fact that they really f*cked their investors (pardon my french). They might be in over their head on the hardware side, but the no-show here is just criminal. I don't disagree... And ok this is only speculation, but... I'm starting to think that this Samual Noi is a one man band... gave it a try and failed big time. This company Labcoin had started way before coming to this forum and original investors (Engineer's) separated, left, sold out, or something like that for what ever reason/s unknown at this point. Who knows, maybe the engineer suspected there was going to be problems and left. Then Samual Noi was left to find new investor to try and save the company Labcoin. Only if he just came out and just spilled the beans... TELL US THE TRUTH SAMUAL NOI... and would be a good idea to start from the beginning. |
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Yeah. At the same time, though I think LC could use a board to oversee what's going on. And also offer assistance and in terms of how to manage things.
One of the reasons why the share price is in so much trouble is the rising difficulty. If this was a year ago, it wouldn't be much of a problem if they got delayed by a month or so. ASICMiner had issues as well. B1 Avalons were delayed a month or two, but their owners are still pretty happy.
The problem now is that with KnC, Cointerra, and the like there's not much room for error, before bitcoin mining becomes unprofitable.
The difficulty is not such a big problem here because this is not a normal mining security. This is a security that owns an asic design. That means they can create miner at cost. Thats fundamentally different to securities that have to buy miner for nearly enduser prices. Those last securities arent much better than when you buy hardware yourself. And you know it wont be a big success. But securities like labcoin can create the miners at cost and on top they will grow the mine. So the difficulty isnt a big problem. I admit... i invested in 2 other normal mining projects, that dont own their own design, in the hope that the previous patterns of other mining securities are repeated. They went up and then slowly dropped. But since all the panic is going on in all mining securities now this wont work anymore. My bad. But companies like labcoin, that own their own asic design, are different. Regarding the scam claims... they didnt run with the money because they wanted to earn more later? How that? I mean they still have 2million shares. Where is the sense when this would be planned as a scam? It would have been so easy to fake a miner. I could do this myself. Then when the shareprice is rising sell the 2 million shares. Easy as pie. Instead they post unfortunate news and know that it makes the price drop. So they are bagholding scammers? Really? If this is a scam then its a scam done exceptionally bad. I guess it could be a scam and they just fucked up in typical Labcoin fashion. I got that thought too... but then i think... every kid could have made such a scam a success. The difference to scams like pirateat40 is that pirate was still earn more than he paid out all the time. When this started to change he stopped paying out. With such a security that wouldnt make much sense. The IPO-Money would be what counts. Everything above that would be to pump the shareprice high so one could sell the shares the security issuer owns. It looks like that didnt happen. And they did exceptionally bad to push the shareprice. I mean they knew exactly when they will post bad news. They posted it and still have their shares. It would be the best time to sell them before. Or even fake a miner hardware and fake a cgminer screen output. Easily doable. Instead they post more and more bad news while bagholding their own shares. That means they either believe in the divs of the project or, if still seeing a scam, they want cheap shares. But even then... they could post news looking way worse. Or not speaking at all. Then the shareprice would be even way lower. They could buy shares with a sockpuppet account since they know it will succeed. So either way i look at it... it doesnt make much sense as a scam. I like to think you're correct. I wouldn't know if they are a scam or not, but one thing I can remember when Labcoin (Samual Noi) first created the original Labcoin thread and presented this project he was involved in... and he wasn't looking at IPOing the project but he was looking for private investors, or angel investors - I can't remember the exact words. But what I can remember was that forum members here suggested it would be better to IPO as there was huge amount of interest in the project. Can anyone else remember this in the beginning..? Also my impression at the time, was they didn't seem like professionals, especially at IPO's... that's where theSwede comes to the rescue... REMEMBER. So, what I'm getting at, is that this wasn't a scam intentionally, but this was a creation that evolved from this forum and everyone in it including myself. I think that Samual Noi maybe genuine would like this to work out, but unfortunately he don't have a clue and is in over his head. |
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^so much speculating, you guys are crazy, wait for facts and stop inventing between the lines!!
Oh, but this is fun! + 1 and I've got skin in the game. hey we did all know this bitcoin business was risk before we purchased these miners, right..? and delays could/should be expected. ahh, just another day in bitcoin land. What else is new |
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Just when hosting option starts looking like a better option.. here's a new fear to throw into the mix.
I for one think that the hosting option will be more of a delay then the delivery side of things.
I only think this because of the photos they published building their data center. (i'm a sparky and cable guy by trade)
in the photos they were constructing the cabinets that hold the miners, but I couldn't see any cabling yet.. it looks to neat for the cabling to have started.
how many units are they hosting..?
1. they will need 240v cabling for all the miners, earthing on all cabinets, etc.. (this sort of thing cannot be rushed)
2. they will need network cable to all the miners, switches and routers configured, etc..
note: the above wiring needs to be tested and inspected for safety before it can actually be used.
the people who are using the hosting option how are you going to confirm you miner is hashing, It could be a while before they actually have remote or online viewing for your miners.
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maybe in hand (delivered) on September could be referring to people picking up miners only.
who's picking up their miners..? Are you going to KnC on Monday..? What are KnC telling the pick up customers to do..?
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wasn't there something about being in the first "1-500" list or something like that.
I actually bought someone elses order to get into this "1-500" list. remember the reselling "1-500" fiasco... What was all that about???
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I am still trying to reach Sam today but wanted to show up here just to make a few things clear.
- I hold a (for me) significant amount of shares that I am not selling. I am convinced that the project is by no means a scam, but it does seem they are experiencing ongoing hardware issues.
- I have no information that I do not post here and an just as frustrated with the issues as everyone else.
- As far as I know the Project has never owned any other hardware (one team member sold his Avalon to fund the tape-out earlier this year) and hashing income, even as it is small does come from the hardware build with the 130nm design.
- The team is working on a plan to move the shares to a new marketplace (probably Bitfunder) in the next week, well ahead of shut down of BTCT.CO and I will do anything I can to make this a smooth and orderly process.
- I have instructed Sam to post an update here ASAP even if I happen to be offline. I can only hope this happens soon.
thanks for trying anyway, and having the BALLS to show up here. |
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anyone remember what happen to BTCGarden with the person who complained to Chinese police...
If someone done similar (contact Chinese police and complained about ponzi scheme) they would be forced to shut down and return investors money.
I'll be in China in 3 weeks, we may have to group up to make it more credible when complaining.
PS. I personally don't want to go this path but if they turn out to be fraudulent then justice needs to be served... "The Law Way"
I think that they still have one final chance to prove themselves. Let's wait for their next communication before we decide what to do next. Seriously I don't want to go this path, I would like them to come good and just communicate (as we all do) no matter how bad the situation is. there seems to be many smart people involve (including investors) and maybe we could all input suggestions on how to get best results for all investors. If they're having major problems with this 1st gen chip, maybe they should just drop it and use all resources on 2nd gen chip. /just a suggestion  |
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anyone remember what happen to BTCGarden with the person who complained to Chinese police...
If someone done similar (contact Chinese police and complained about ponzi scheme) they would be forced to shut down and return investors money.
I'll be in China in 3 weeks, we may have to group up to make it more credible when complaining.
PS. I personally don't want to go this path but if they turn out to be fraudulent then justice needs to be served... "The Law Way"
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