Message from Kate to CIPHERMINE shareholders on Litecoin-Global:This week and the futureDear Investors, There is good news and bad news this week. The bad news is that a) as you'll have heard this exchange is closing and b) we've had a rubbish week due to continuing to rise difficulty on all fronts. We actually made a very small loss this week after power, depreciation and the bond interest payments. The net contribution to the hardware fund was €306 so we are still net positive, it is just all going into reinvestment. I am not overly concerned by this since we have always been geared towards being hardware-reinvestment intensive. However, my forecasts are looking a little more doubtful for scrypt mining given recent rises in difficulty. Further, I am not entirely satisfied that we will get good value for money from money invested in SHA256 ASICs either right now. Therefore I have decided not to reinvest the Avalon refund in more hardware. Instead I we are going to use this money to advance some of our diversification plans, the most notable of which is a gambit to purchase Burnside's code and re-launch this exchange and BTC Trading Co (some details here), which is the good news. For this purpose we will setup a new virtual security most likely and CIPHERMINE shareholders shall get a proportional number of shares in the new entity(ies). I feel it best to keep clearly different business operations separate. It should also be noted that I have personally contributed at least that amount to CipherMine's hardware estate out of my own pocket, so I feel that redirecting those funds is not innappropraite (and it will likely benefit you all more). Finally, thanks to the aforementioned plans, CipherMine shall continue as a virtual security. The business itself is strong and we have significant ASIC pre-orders coming through in the next weeks and months. It is likely that there may be a period where the security is illiquid and not on an exchange. During that time we will continue to pay dividends to your public withdrawal address (please do make sure you've set this!). My aspiration is that we will have a new exchange operational for the start of December; ie. only one month of illiquidity (this exchange closes at the end of next month). Finally, please also ensure that you have set an active and secure email address as your LTC Global email account. When reconstituting shares on the new exchange we will be using those email addresses (I have records of them from the shareholder reports .csv sent twice daily). If you are using an insecure or out-of-date email address then you will likely lose your holdings during the trasition! Kate. Kate should create a Ciphercoin and let people trade that to fund Ciphermine's trading engine development. Using Avalon refund money is fine but I doubt its going to be enough. When the engine is done then Ciphermine shareholders should own shares of it. |
|
|
|
No q&a. It was just another lie. Like every single thing they said.
It's over people. Move on.
I don't think people can accept that they got scammed out of thousands of dollars. And it probably includes even people like Swede and Seven. The majority of people probably got socially engineered and don't know what happened. |
|
|
|
|
Don't you guys get it by now? Labcoin is 100% scam.
Samuel Noi is a genius who tricked you out of your life savings.
He promised to do Q&A and didn't. That can only mean one thing.
|
|
|
|
A Labcoin appears just as the price tanks. Haven't we seen that before?
Also, where's the million shares?
Some amounts of shares were used as payouts for team members, including theSwede. Labcoin claimed when asked about the missing MILLION shares that they were used to pay you. Could you please confirm or deny that assertion? A million shares isn't 900 BTC though or is it? Anyway, TheSwede said he will show his 30,000 shares in a few hours. He is known to at least keep his schedules and dates. |
|
|
|
I just wanted to visit real quick and let people know that I will not be moderating or participating in the IRC Q/A. I was for a long time, and would still be happy to relay news for Labcoin but the fact is that I have had very little to report lately and had to withstand quite a few accusations from several people on the forum.
Without information to provide, and having been put in a situation where I had to "break my word" several times to simply to lack of communication i have full understanding that investors and the public in general is upset but the fact is that I have never had any inside information on the project and have always just attempted to relay the status and information that I have been provided with.
For what it's worth I still don't see any reason to believe the project is a Scam and I myself have not, and do not intend to sell the shares I own.
This post is not means as critique towards Labcoin, but I feel that to regain confidence the Labcoin team themselves need to answer the questions from the forum directly so that there is just no possibility for any misunderstanding or miscommunication.
Prove it. Make your portfolio public. If you do not then you've done nothing to change the opulent perception the community has of you. I own other shares then Labcoin and prefer not to make my portfolio public, but to give some insight I can say that I currently own 30.000 shares in Labcoin at an average purchase price of around 0.0027. Given that I purchased shares in the IPO and did sell some several weeks ago I will likely still end up making some Coin but I can assure you that any idea that I would have made anywhere even remotely close to 900BTC is absolutely false. As for holding the shares still, I feel that the Project still has a chance of turning a bad situation around. Only time will tell if I am correct of course. I don't accuse you of making 900BTC. Can you post a screen shot of your portfolio and redact everything except for the Labcoin portion? That would be enough to satisfy us. We do not want to invade your privacy. We just want some transparency with so much money on the line and so many dreams at stake. If you have 30,000 shares then you know how it feels to see the price going to 0.00001 with no indication of recovery or even an exchange. I am mobile right now and with no Yubikey access (my choice of 2 factor) but can definitely post a screenshot of this in a few hours at the latest. Okay thanks. That would be appreciated and do a lot to restore your credibility. |
|
|
|
I just wanted to visit real quick and let people know that I will not be moderating or participating in the IRC Q/A. I was for a long time, and would still be happy to relay news for Labcoin but the fact is that I have had very little to report lately and had to withstand quite a few accusations from several people on the forum.
Without information to provide, and having been put in a situation where I had to "break my word" several times to simply to lack of communication i have full understanding that investors and the public in general is upset but the fact is that I have never had any inside information on the project and have always just attempted to relay the status and information that I have been provided with.
For what it's worth I still don't see any reason to believe the project is a Scam and I myself have not, and do not intend to sell the shares I own.
This post is not means as critique towards Labcoin, but I feel that to regain confidence the Labcoin team themselves need to answer the questions from the forum directly so that there is just no possibility for any misunderstanding or miscommunication.
Prove it. Make your portfolio public. If you do not then you've done nothing to change the opulent perception the community has of you. I own other shares then Labcoin and prefer not to make my portfolio public, but to give some insight I can say that I currently own 30.000 shares in Labcoin at an average purchase price of around 0.0027. Given that I purchased shares in the IPO and did sell some several weeks ago I will likely still end up making some Coin but I can assure you that any idea that I would have made anywhere even remotely close to 900BTC is absolutely false. As for holding the shares still, I feel that the Project still has a chance of turning a bad situation around. Only time will tell if I am correct of course. I don't accuse you of making 900BTC. Can you post a screen shot of your portfolio and redact everything except for the Labcoin portion? That would be enough to satisfy us. We do not want to invade your privacy. We just want some transparency with so much money on the line and so many dreams at stake. If you have 30,000 shares then you know how it feels to see the price going to 0.00001 with no indication of recovery or even an exchange. |
|
|
|
Does the Swede or anyone else at least know what time the IRC Q&A will be?  It's going to be another broken promise. Then he will come back and convince the next line of suckers to buy because a sucker is born every minute. If you like to day trade you can make profits as it crashes down to 0.00001. |
|
|
|
I just wanted to visit real quick and let people know that I will not be moderating or participating in the IRC Q/A. I was for a long time, and would still be happy to relay news for Labcoin but the fact is that I have had very little to report lately and had to withstand quite a few accusations from several people on the forum.
Without information to provide, and having been put in a situation where I had to "break my word" several times to simply to lack of communication i have full understanding that investors and the public in general is upset but the fact is that I have never had any inside information on the project and have always just attempted to relay the status and information that I have been provided with.
For what it's worth I still don't see any reason to believe the project is a Scam and I myself have not, and do not intend to sell the shares I own.
This post is not means as critique towards Labcoin, but I feel that to regain confidence the Labcoin team themselves need to answer the questions from the forum directly so that there is just no possibility for any misunderstanding or miscommunication.
Prove it. Make your portfolio public. If you do not then you've done nothing to change the opulent perception the community has of you. |
|
|
|
And the morons who bought at .0006 lost 50% and are dumping lols
They'll buy again at 0.0003 and dump at 0.0001 and keep doing this all the way down to 0.00001 and 0.000001 forever. It's gambling addiction and its hot potato. |
|
|
|
Outsourcing sounds like a sane decision. If one cant do it alone he should let others, with more knowledge, do it. Sometimes admitting that you dont know further is a hard thing. So i see this as a good sign.
Anyway... keeping aside all this emotions, the fear and talk... i still see a company that has slight results, problems with hardware and time problems. As if this is something new for asic companies...
Besides that i did not find a real reason that this is would be a scam. And it doesnt make sense anyway to move this on after you already got all the money from IPO.
Whatever... the price is low enough to buy in. Panic is not a real indicator for the worth of future divs. And im only interested in divs. With this shareprice the relation between potential reward and total loss is good.
Some people should keep the saying "never trade on emotions" in mind. Thats prone to errors. And i fall for it often enough. Saying that... its still possible to lose everything... but what i see doesnt look to me like something that justifies crashing the price.
At the end its a gamble like every investment... and the lots are cheap now.
if i was religous man, i'd pray for you. naivety knows no bounds you've got 2 chances of making any sort of money here, none of which follow the original plan and both of which rely on finding a bigger set of fools A sucker is born every minute. |
|
|
|
Outsourcing sounds like a sane decision. If one cant do it alone he should let others, with more knowledge, do it. Sometimes admitting that you dont know further is a hard thing. So i see this as a good sign.
Anyway... keeping aside all this emotions, the fear and talk... i still see a company that has slight results, problems with hardware and time problems. As if this is something new for asic companies...
Besides that i did not find a real reason that this is would be a scam. And it doesnt make sense anyway to move this on after you already got all the money from IPO.
Whatever... the price is low enough to buy in. Panic is not a real indicator for the worth of future divs. And im only interested in divs. With this shareprice the relation between potential reward and total loss is good.
Some people should keep the saying "never trade on emotions" in mind. Thats prone to errors. And i fall for it often enough. Saying that... its still possible to lose everything... but what i see doesnt look to me like something that justifies crashing the price.
At the end its a gamble like every investment... and the lots are cheap now.
And with the current hash rate what do you think the divs will be? |
|
|
|
All things being equal 0.0003 is a decent price to get in at just for the gamble. I would say don't get in too deep but you can't deny that is a bargain price. Again don't risk you life savings here but there is a lot of upside potential now. This is a triple bottom - a very bullish sign - so you are more likely than not to make money here rather than lose it.
Ofcourse should LabCoin sort this mess out and start some serious hashing then a buy here could make you a nicely wealthy man. Good luck everyone.
Unfortunately it's going to go below 0.0001 so why not just wait? It's too risky to buy it on the way down. |
|
|
|
If you sold on this "news", you're going to regret it.
Very soon.
Why Because reading through bitcycle's posts reveals that he bought in at .0005 trying to get some quick profits At least money can be made making a movie out of this scam. It belongs in a movie. |
|
|
|
If you sold on this "news", you're going to regret it.
Very soon.
Why No one wants to be the bag holder. At some point you gotta just get out and put your money anywhere else. Or do you want to lose more? |
|
|
|
I wonder if they will let TheSwede bring his rolexes into prison.
Poor guy is going to take the biggest fall for this.
Yeah he is done. They are all done. I don't even think he knew what was going on but it doesn't matter. He has to make a deal with the SEC now. This tarnishes the entire Bitcoin community. Probably millions of dollars were lost. There will be people who end up homeless over this, people who will lose their life savings over it. One guy lost $20,000 at least. |
|
|
|
Amazing Company?
I'm out. Net loss = 193 btc, lesson learned = priceless.
Isn't that almost $20,000? You lost a car. |
|
|
|
The money is lost even if it is a ponzi scheme. Their silence speaks volumes. If it were anyone else running a legit operation they would be freaking out about these share prices. They'll let the price drop to 0 and not care when a corporation is supposed to legally profit for shareholders? It doesn't make sense.
You don't know what their scam is in the end. It could just as well be that they have working hardware, but want all the profit for themselves. So they create uncertainty with all their bullshit, suspiciously show very little hashing etc and drive the price down close to zero, then buy up all the shares. And then suddenly, when everyone has completely lost trust and they have 99+% of the shares, they suddenly do start to openly mine and can say "well, we told you all along, you just didn't have trust in us", thus saving themselves from the legal threats. The stock price would shoot up again dramatically and they would have earned millions in share appreciation already, let alone the mining income. I don't really think that is the scam they're doing, but it could just as well be. All that I'm practically sure of is that they are doing a scam, whatever the exact scheme might be. Just get out of this mess and buy yourself some safe and reliable ASICMINER. That is possible too but that would probably still be a crime. |
|
|
|
|
This stock is worth less than 0.0001 now. There is a strong chance that legal action will be taken. Too many people have lost too much money and the Labcoin team seems not to care.
Think of how many people lost their life savings from this. Millions of dollars were lost.
|
|
|
|
User "Labcoin" has a Skype Name in his Profile named "delaria"
User "Delaria" on bitcointalk is a italian Guy who run 3 avalons some months ago under the Name "Labcoin"
Dont you guys think User "Labcoin" is an italian aka Fabrizio?
Got a link for that second claim? If this is true, I revise my opinion. That would be evidence proving without a doubt that Fabrizio has direct involvement with Labcoin. He will have a difficult time denying it. |
|
|
|
My opinion is Fabrizzio is bullshitting us I have a hunch after I saw his face http://www.linkedin.com/in/fabriziotattilooks a bit wizzley Maybe this whole thing was based on 2-3 Avalons just to keep the moral up , so they can get rid of the shares above IPO, and than buying them back below IPO, no harm right? Fabrizzio doesnt seem to know a thing about bitcoin, just started working in what appears a fairly decent job at OPPO, and is the only one who's identity is absolutely clear. We may have to go through him to find the others, but I very much doubt he is the guy behind this. User "Labcoin" has a Skype Name in his Profile named "delaria" User "Delaria" on bitcointalk is a italian Guy who run 3 avalons some months ago under the Name "Labcoin" Dont you guys think User "Labcoin" is an italian aka Fabrizio? No, they communicate different. Labcoin is Samuel Noi. |
|
|
|
|
Show Posts
