Yet another ICO that immediately heads downward. This one has the bonus of being clearly destined for a cease and desist order. Why he didn't use a better name is beyond me.

Anyway, now he's spending his time deleting any critical posts from the thread.

I guess that means the coin doesn't need any development work, it's all done!


Stop buying these ICOs, people. There's nothing behind these coins.  They aren't going to make you rich.  You're just going to keep losing money.

 

Questions asked by Radiumsoup and deleted by "Sam";

a few things off the top of my head:
-How many of the 20,000 chips in hand still remain to be deployed?
-On what date will all chips in hand be deployed?
-What are the approximate running costs, per board or per terahash, of outsourcing and hosting (electricity, etc.)?
-Are the current chips profitable right now at the current difficulty? If so, what is the current profit margin?
-What is the status of the next batch of chips? (the 130nm ones promised to use a thermally superior package)
-What is the status of the 65nm design? If it's still on hold, do you have anyone under contract to complete the design?
-Have you secured exclusive access to the bitcoin wallet for IPO funds yet from Fabrizio? (If so, what address?)
-When will you be in Shenzen next?
-The network difficulty has risen 40% in the last few days, and is expected to rise sharply again in less than 12 days. Can you achieve 1% of global hashrate before the next difficulty change, and can you maintain that rate in the future?
-There have been a number of well-funded competing ASIC designers now producing real hardware, and difficulty is expected to continue rising at record high levels for the foreseeable future. At what difficulty will the existing Labcoin chips cease to be profitable given the known power and hosting costs?

[NOTES FROM THE Q&A]

NOTES FROM THE Q&A

INCLUDING A TO-DO LIST FOR SAMUELE NOI.

I am PMing a copy of this to-do list to the Labcoin account as a reminder of the action items from this session.

I am also asking Mr. Noi to inform us when these items are completed.

Actions for the next 24 hours.

• Skype session with Ukyo regarding Bitfunder listing
• Posting to the forum the amount of BTC left in the company funds.
• Change pool to Eligius
• Make the labcoin portfolio public on BTCT

Other actions to complete ASAP

• Verification of ID.  A good start would be writing "I am Samuele Noi of Labcoin" and the date on a piece paper, and photograph yourself holding it.
• Photos of the hosting facilities as well as the operational boards
• Send a sample board to TheSeven.  This should be done immediately as the sooner he gets the board the sooner he can provide advice. Delays have a direct cost.
• Exact power consumption figures for the chips/boards

Actions for the community to complete ASAP

• Nominate a panel of community representatives to work closely with Samuele. This should be done immediately. We complain about delays from Sam, let's not do what we criticize him for.

THIS LIST WILL BE REPOSTED DAILY WITH ITEMS CHECKED OFF AS THEY ARE COMPLETED