I advise everyone to not turn this into a ActM vs. Lab drama thread.  |
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Instead of using the withdrawal adress, you could ask the user to set a public bitcoin adress which is then shared with share issuers. (Kinda like BitFunder) This. It has to be a different one. I really like this step, because it enables the oppertunity to identify or authorize user outside of BTCT. For example: I set up a service connected to BTCT, but how do I know if a user who wants to use my service is actually the one on BTCT? I can't right now. But if I ask him to sign a specific message with his BTCT address and I know this address, the problem is solved immediately. Edit: Thanks! Edit 2: Do we get rid of usernames now? How are transfers handled? It would be absoluteley awesome, if you could change the internal transfer system in a way that allows transfers from address -> address. Both on LTCG and BTCT. |
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Dear shareholders and potential shareholders,it has been two days since CIPHERMINE-PT started on BTCT and I want to give you an overview of the past days and what is to expect in the nearer future. I'm not sure yet about the format, but I want to publish similar shareholder reports frequently. Where we are now:The "IPO" was a success and within less than 2 minutes all 1000 shares found a buyer. They say pictures are worth more than 1000 words, thus I'll leave you with some charts for an overview of recent trading activity: LTC/USD, source: BTC-E via Cryptocoin Charts BTC/USD, source: BTC-E via Cryptocoin Charts BTC/LTC, source: BTC-E via Cryptocoin Charts CIPHERMINE, source: Litecoin-Global CIPHERMINE-PT, source: BTC Trading Corp. Edit: There seems to be a minor displacement due to a different timezone used in NinjaTrader.Dividend:The first dividend was issued some minutes ago with an exchange rate of 0.02031 BTC/LTC. A fee of 5 % or 0.7738 LTC has been withheld. Actually it's a double dividend this time and I'm sure Kate will address this soon. Dividend received on Litecoin-Global:  Dividend issued on BTC-TC:  Share transfers:5144 shares were transferred in and 58 shares were transferred out. I strongly support arbitrage and I will try to process share transfers as fast as I can, but right now I'm doing this manually. In a shorter timeframe, but rather sooner than later, I'm looking forward to set up a share transfer bot to provide a way to exchange CIPHERMINE and CIPHERMINE-PT shares instantaneously and to build a constant bridge between the Bitcoin and Litecoin worlds. Though I'm not interested in delivering a sloppy solution and when I hand over the control over the transfers (and related accounts) to a bot, I want to be absolutely sure that everything behaves as expected and the risk of unwanted behaviour is minimized. Volume and spread:While the IPO went off very smooth and fast, I'm not satisfied with the trading volume and the gap between bids and asks is quite huge. This has been a problem on Litecoin Global also, though CIPHERMINE is one of the most traded securities over there. I hope we will gain more attention on BTCT in the future and offering an autonomous share transfer serivice might be a niche to achive this. Any suggestion and comment regarding this topic is very welcome. Public Q&A:It has been asked before and I discussed it with Kate: We will do a public "question and answer" session soon, most likely on IRC. More details and a fixed date and time will be announced with a sufficient leadtime. Cheers!
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... You forgot the part about massive tape painting. |
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Publicly on BTCT, the exchange your security is traded on?
Or publicly in this thread?
I think news travel fast and this doesn't make that huge difference at all. Or are you mentioning this, because shareholders receive an e-mail notification? |
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What is known about this address? What makes it a possible labcoin candidate?
Not much. Only guessing, I think. It's a new miner address and the timing + block finding probability doesn't rule out that it's not Labcoin's. But of course we can't be sure, that it's really theirs. |
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It'll at least go to where it was, if not higher.
Don't be so shy. If it works out, we are from a fundamental point of view way ahead of where we were last week and last week was almost 2x of where we are now. |
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Right, I think Labcoin's posts encourage FUD. (And they know it)
I disagree. The statements are somewhat neutral, it's the people who turn this into drama, either because they want to or because their expectations weren't met. Edit: labcoin, here is a suggestion for improved communication: it would be nice, if you could address "what you are doing right now", instead of "what are you going to do" in the future. |
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Still, it is so extremely easy to stop this and actually make the price go up. I talked to a few other investors and one thing is clear, "we would do a few things differently and could easily end the drama". But the thing is, we don't run this company and we don't know how it is like to run Labcoin and what the given circumstances are. We can only assume and conclude, but the divergence between expectations and what Labcoin has given us is huge. I am pretty sure they don't want to do harm to us, really. I'm almost convinced it is not the case, so the question of the day is: "why is that so?" I'll leave you with TheSwede75's quote: NOT AN UPDATE, JUST PERSONAL OPINION:
To be brutally honest. I realize that has been delays, and I also realize that communication has not always been what I wish we could provide. BUT, supporting day trading or providing updates at the whim of every single person that owns a share is just not priority.
If you do not believe Labcoin can deliver, or that somehow the team is running the world most advanced long-con ever you are well in your right to sell your shares.
The project is fully funded and I have personally 100% faith that Sam and the developers can and will deliver and though mining has been delayed, every single (even the most pessimistic) calculation I have done makes selling my shares anywhere near current price a bad idea.
I am not saying this to influence share price, but simply because it is getting a little tiring to see people yell and scream completely irrelevant information.
The chips that have been developed perform well within variance of what can be expected, boards have arrive and are arriving as we speak and mining will according to the team be up and running at production speeds within a week or two.
With 100,000+ chips already ordered I see no reason as to why the project would not yield a very healthy profit within the next month.
The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.
I know its easy to have 20/20 hindsight but I feel that frequent updates do more harm then good. Feel free to voice your opinion of course (as I am sure you will).
I guess asking for some measure of reason is futile but the best I can do is to inform as best as I can. Hopefully I will be able to look back at this thread in a few months and smile.
Edit: I can personally guarantee that no one on the Labcoin team has the Photoshop skills to fake the chip/board images. Source; engineers are not artists.
I disagree with the statement "that frequent updates do more harm", but I suggest instead of yelling "what the f- is wrong with them" we should take a more active role and explore ways to improve the "communication" and overall find a consensus to achive our goal of turning this into a successful story. |
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500 pages is not far away, keep up the good work guys!
Compared to 24 hours ago, the silence over the last hours suggests that our beloved bears are done. By the way, I'm paying a bounty of .5 Bitcoin, if anyone can provide a consistent and gap-less log of all orderbook changes from over the last 48 hours or to be more precise at least starting at 2013-09-13 12:00 UTC. I don't care about the data format as long as it's parsable in any way. Offers via PM with a sample please. |
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What do you guys think about another Q&A round or similar? Or maybe gathering all open questions and hand them over in one batch?
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I'm not claiming they're mining on a large scale, I'm just saying that the most plausible scenario for removing chips from the tray is to mine with those chips, After all, that's what they're designed for.
Haha yes, I agree. Just wanted to point out that "only because some chips are missing", we can't conclude that they are running a full blown mining operation right now that generates significant profit. But I think you got that. |
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The obvious reason for those chips being missing is because they are being mined with. It's funny the way none of you FUDsters can come up with a logical argument against this.
It might be good to stop this "black and white" thinking. There are several nuances between "Labcoin is not hashing at all" and "Labcoin mines on a large scale". They say they are at an experimental stage, they say they are hashing and optimizing and we also know they are not yet on a productional scale. Edit: I should add that the tray looks oddly 1 dimensional. Does anyone else notice this? It looks like it was painted onto the white table (or poorly photoshopped on)
There is acutally another picture:  https://bitcointalk.org/index.php?topic=263445.msg3148724#msg3148724 https://bitcointalk.org/index.php?topic=263445.msg3148974#msg3148974 |
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The boards they showed don't even have traces for the chips. How do you explain that?
Meh, sorry. What does "traces" mean in this context? Circuit paths? I'm not that deep into this topic, but maybe they are on the other side? Maybe the board manufactor even screwed up and some layers were not "printed". I have no idea. As far as I know they are in an experimental stage right now and I wouldn't wonder, if they do the tests on breadboards anyway, because they also said they aren't at a productional level yet. Edit: Ytterbium seems to know more about this.But as said before, there are some things that seem strange, but I also think the current price reflects that. Thus it comes down to the "is it a full blown scam or or" question and I'm clearly in for the later. Right now people are expecting "something" and Labcoin tries to deliver "something", but it clearly doesn't work to a satisfying degree and the number of angry posters as well as rushed answers from Labcoin shows that. Edit: really? you're gonna blame the crash on the shareholders, and not the guys that totally dropped the ball on the "announcement"
No, of course not. As said before "initiated by Labcoin, fueled by posters", dispite that, there was a huge level of tape painting involved. |
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This picture is not from Labcoin. In all seriousness I can't help but think this panic was caused intentionally.
Yes and no. Labcoin is not 100 % consistent which was the initial spark that triggert the recent sell-off. But since then it was fueled by more than 1000 posts of less than 15 users. (estimated) I for one am sure that they are real and the update/pictures from yesterday showed that they are working on it. You can argue about the price, you can argue about the timeline and you can argue about the PR style, that's personal risk each one has to take for himself. |
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I think i missed the part.. where they say: we dont mine atm; we dont have the 2th.. someone has that on his clipboard?
I think it's something inbetween. They have working chips, which are hashing, but they don't operate on a productional scale yet. Also, I'll give the following a requote, because I noticed it just now: NOT AN UPDATE, JUST PERSONAL OPINION:
To be brutally honest. I realize that has been delays, and I also realize that communication has not always been what I wish we could provide. BUT, supporting day trading or providing updates at the whim of every single person that owns a share is just not priority.
If you do not believe Labcoin can deliver, or that somehow the team is running the world most advanced long-con ever you are well in your right to sell your shares.
The project is fully funded and I have personally 100% faith that Sam and the developers can and will deliver and though mining has been delayed, every single (even the most pessimistic) calculation I have done makes selling my shares anywhere near current price a bad idea.
I am not saying this to influence share price, but simply because it is getting a little tiring to see people yell and scream completely irrelevant information.
The chips that have been developed perform well within variance of what can be expected, boards have arrive and are arriving as we speak and mining will according to the team be up and running at production speeds within a week or two.
With 100,000+ chips already ordered I see no reason as to why the project would not yield a very healthy profit within the next month.
The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.
I know its easy to have 20/20 hindsight but I feel that frequent updates do more harm then good. Feel free to voice your opinion of course (as I am sure you will).
I guess asking for some measure of reason is futile but the best I can do is to inform as best as I can. Hopefully I will be able to look back at this thread in a few months and smile.
Edit: I can personally guarantee that no one on the Labcoin team has the Photoshop skills to fake the chip/board images. Source; engineers are not artists.
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Here you go, about locking shares...
I have not been handed a list unless I missed it somewhere.
I hope the LABCOIN guys don't mind me disclosing this. Over 85% of the 3 million shares have not left a specific account I know is held in the Labcoin name. The other 15% could easily be held in any of the next few top shareholders, but I am not privy to who is who without some assistance.
Edit/add: and this account is not locked. I will not lock it without a specific request from the owner. - Is that clear? Or you see some conspiracy? Me? I think it is a good idea to own a bit just in case they pull 500TH out of their backside.
Yes, I think it is a good idea to own a bit just in case.. oh well. Lol you sheeple are so predictable, keep buying so we can dump on you again. IPO folks are in danger now. Below, IPO folks are going to bail with the quickness Headed below IPO, I'm staying up for this. Once we pass .0014 its free falling Yep, please delist this BS Burnside. Obvious deception here. So now people are not content with spreading FUD, they're resorting to straight up lies in order to bring the price down. The funny thing is that people are actually believing the bullshit when the arguments are obviously nonsense.
A lot of people in here are brain-dead gullible idiots, the rest of us are now a lot wealthier thanks to your stupidity. Thanks, that gave me some insight. (I'm serious) -- This is funny to see that some people here believe that this is the FUDsters that made the share price crash.
The selloff was initiated by the PR, followed by a mini spike after the pictures, but fueled by the posts. |
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<--- *wears a tinfoil hat since some hours* ... we will see, how it turns out. One important question to ask is: why does someone solely focus on posting "this or that is flawed, the ship will go down" with over 20 posts in a row? matt4054, foxykah, limbaugh for example, please tell me. This is no accusation, maybe I got it all wrong.. Labcoin mentioned in virtually every thread in the Securities forum too. A concerted effort to get minimum price?
I think so. And I believe there were thousands of artifical trades in the last hours, split into smallish parts, to flood the trading feeds. How do people fall for this blatant manipulation?
I've seen this pattern multiple times over the last hours. Tell me more about. You missed the step between 1. Oh looky, manipulation!, 2.  , 3. Labcoin goes up/down. |
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Over the last 5-6 hours this thread grew by 42 pages and completely stuffed with no-content-posts. This equals a post rate of more than one post / 30 sec and this was done by approx. 5 personas at the same time. For visibility: 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. https://bitcointalk.org/index.php?topic=263445.msg3148724#msg3148724https://bitcointalk.org/index.php?topic=263445.msg3148974#msg3148974 |
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You guys are nuts. Pushing the same stuff in 30 seconds intervals in a circle jerk of 3-5 accounts over and over again is far beyond of what I tolerate. For visibility: 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. https://bitcointalk.org/index.php?topic=263445.msg3148724#msg3148724https://bitcointalk.org/index.php?topic=263445.msg3148974#msg3148974What is this off to the side? Something on the lense. It's pretty nice visible if you see both pictures at the same time.  |
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