it's very easy to join a pool and prove that they are indeed hashing. It is very easy to publish the mining address. It is very easy to let investors know what the hell is going on.
For some benefit of doubt, if their program didn't include the functionality of joining a pool in the first place, it takes some time adjust that. That said I'm not sure whether publicly released programs offer functionality to work with large and expandable ASIC farms off-the-shelf; the last time I looked they seem to be designed for standalone PC's with hashers connected as plug-and-play hardware, not routers / servers that connect to racks of ASICs through LAN. If they could solo mine, they can mine on a pool in about 1 minute to change the configuration. Actually mining on a pool is MUCH easier to set up than solo mine. |
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TMAN you realize what we are all doing here is illegal right. Unlicensed securities and all...
um no? buying virtual shares of a company based in HongKong, I would imagine is completely legal in the United States. |
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Lots of activity on btct but it's mostly jostling - the price is still ~.003.
As rubbish as LC is in terms of providing updates and info, much of the activity in this thread looks like people trying to stoke a crash... to cash in on cheap shares.
Full disclosure: holding shares bought at IPO.
or just trying to warn people to get out of a scam while they can, BTCST ran a scam for nearly a year before it was exposed and collapsed. Lots of people made money by getting out before it collapsed. |
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was this ipo 0.002?
no, 0.001 |
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The beauty of this great deception is that TheSwede75 is credible and himself believes that this operation is legit.
You forgot the sarcasm tag. The biggest warning sign IMO is TheSwede75 is their spokesperson. How can a person be credible when half of his post history are trolling posts. |
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I have reached out to Sam so that we can coordinate an information release. As usual I have no inside information and no new information has been released anywhere, as soon as The Labcoin team has more news to share I will of course release that information here in the forum as well as through BTCT.co.
What exactly do you do other than posting you don't know anything? He posted to try to stop the bleeding. But his post is completely content free, he hasn't even talked to anyone at Labcoin. And even if he had, he has no credibility after his 48 Hours fiasco. So it was totally worthless. Your post implies TheSwede75 had any credibility previously. |
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lol I can't believe people still buying this. Solo mine with 2TH, why? because mining on a pool would leave them with no excuse to not publicly display their non-existent hashing stats.
oh and, of course, zero block found so far solo mining with their non-existent hashing hardware. LOL
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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
If you are really mining with 4TH, then it should be trivial to temporarily switch to a pool with public stats, to confirm you are mining at 4TH. Not sure why you choose to solo mine, and provided ZERO proof that you are indeed mining. |
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This will not get the price high, anyway.
hmm I don't know, right now it's nearly $10 higher than yesterday. There's definitely some movement. |
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Slightly off-topic, but is this thread showing up as grayed-out on the Securities page?
That's because "TheSwede75" is on your ignore list, he's also on mine. |
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Maybe, but I'd think anyone with that much money at stake would be working with Gox to get the money transferred our rather than taking a $250k haircut. Unless they have some inside info that Gox's collapse is imminent.
After FBI seized 5.8M USD from mtgox, I doubt they are still solvent enough to cash out 25000 BTC in USD. |
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That article is filled with errors and misconceptions, it's actually quite funny to read. I quote "litecoin is the first scrypt coin" (um no, tenebrix is) "alt coins can not succeed" (define success? litecoin is worth more than $2 per coin, and also it has a lot more coins outstanding than bitcoin, I'd consider that pretty successful) |
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Is it overbought? I see them all over the place in LA.
I think they are. Ferrari market cap 7.7B. Tesla currently nearly 20B |
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So are we going to let this bite the dust? Yes, we probably are all happy to even see all of our BTCs returned but what happened stinks. That story seems to be like they didnt even try to make a good excuse. And what, you didnt think that was an option before you raised 36k Bitcoins ? And how were these bitcoins just sitting somewhere in wallet just like that doing nothing for 2 weeks when there was all the fuzz about how fast you need to raise this IPO to begin with all your plans?
As I see it (from the talk about how you are continuing with your plans just without IPO money) there could easily be some big private investor and you just cut people from IPO as it would be easier and probably benefits you more. And that probably is some sort of breach contract therefore OP should be wearing SCAMMER TAG.
If you have concrete proof of what you claim actually happened, then he should. Otherwise no. |
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All I see is: "I want share price to go down!" "I want share price to go up!" "I want share price to go down!" "I want share price to go up!"  I see a lot of valid points from both sides, but LC is entirely too quiet. Are their devs *STILL* in newbie jail? Really? I bought into this IPO because I thought it was attractively priced and had a good risk/reward profile(I did not feel the same about BTCGarden), but you cannot properly assess risk/reward without accurate and timely information and all I hear from management is crickets. You get what you pay for, there's a reason this IPO is "attractively priced". |
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Exactly, I wouldn't touch this Italian owned "train wreck in the making" with a 10 foot pole, I'm not yet convinced this is a not a scam. IMHO after btcgarden has gone private, the only other trustworthy asic mining operation IPO is MYMINER from the people at bter.com.
They are at the mercy of chip suppliers which has been unreliable at best. My money is on a self sufficient mining operation which unfortunately leaves LC as the only option. They are in China and well connected with the suppliers, the chip supply is not a problem. There's a reason not many company develop their own CPU but instead buy Intel. The cost of research, development and manufacturing your own chip will soon be a disadvantage once the chip is just an easily obtained commodity. The true future competition in ASIC mining operation, is power/infrastructure cost, not who can manufacture a chip. MYMINER will have a HUGE advantage in this area, since they will be locating their facility in super low cost areas of China and also even utilize solar power fields in the area. |
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Not insider info,
I was waiting around for .0013-.0014 but then JMG had to go and post that stupid chart and stop any downward momentum. What people aren't realizing is that this security should settle around 30% apr after everything is up and running.
Labcoin is set to initially hold ~5% when they first come online, this will spike the share price considerably allowing for an impressive mid-term gain.
I think people realize the POTENTIAL - what about the risk that these guys never get anything off the ground - even if they are delayed 6-10 months their current plans may be almost worthless at the current diff increase rate. Exactly, I wouldn't touch this Italian owned "train wreck in the making" with a 10 foot pole, I'm not yet convinced this is a not a scam. IMHO after btcgarden has gone private, the only other trustworthy asic mining operation IPO is MYMINER from the people at bter.com. |
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They stated their IPO purpose on Chinese forum, their main purpose of the IPO is marketing, by having a publicly held security, they hope to spread the word about them and their hardware, so people will know to buy them when their hardware is available. (Actually now that I think about it, I suspect this entire IPO might just be a marketing stunt, since they said multiple times they don't need money).
I don't know, the IPO was basically free money for them (especially including the dilution clause). No matter how well off they already are, they could have always used the IPO money to increase the scale of their operation. Yes, but again, they are already very well funded, the money from this IPO is just a "nice addition" to their already formidable warchest. Their main purpose is definitely not the money. |
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You are assuming that the coins never will be inside a Bitcoin bank in the future. A transaction can occur off chain.
So? it only makes energy wasted per transaction worse. Bitcoin mining is not environmentally sustainable. PPCoin's proof of stake mining is ultimately the way to go. |
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