Labcoin already have the money so their success isn't dependant upon the share price. Ultimately, it depends on how their chips perform and the value they provide. We're about to find that out over the coming weeks.

They claim to currently have 2 Th/s and will be expanding to 20 Th/s in the next 20 days. They're not just bringing more hashing power online, they're also tweaking what's already running to optimise the whole system.

There's no proof whatsoever that they are not mining, just opinions. In fact, on the engineering side, from the updates we've had so far, Labcoin seem to be on schedule and possibly a bit ahead. When it has come to providing actual proof that would verify that Labcoin are in deed mining, Labcoin have failed miserably on that score. That is not proof that they're not hashing though, that's just proof of poor PR skills which I kind of expect from engineers anyway.

They've told us that this proof will be forthcoming over the next couple of weeks with the address being provided when mining is stabilised and around 10 TH/s.

Apart from the claimed good news about mining, what else has actually changed? The community has asked for specific things and has been told that those things will be provided within the next couple of weeks.

Sell all you want or buy all you want, it makes no difference to Labcoin. They'll keep bringing more hashing power online as they've already paid for the necessary hardware.

I agree with you but I don't think Labcoin is a scam. They are just paying the price of too much bullshit and not enough honesty. And as you said, in the BTC world, *trust* is everything.

I left on the previous update (if you remember) and that was obviously a good idea. I went through every update here and that was always the same story: only words, no proof. The pressure was increasing and this time it imploded. I just don't know how Labcoin is going to get back the trust of their shareholders.

I don't understand why people hold LC at the moment. I mean, gambling is ok, but with these odds, I'm feeling kinda skeptical.

Lets assume your right? (not imho) and now? you sell? or already sold? whats next?

What a way to wake up... I knew I should have set a clock in the middle of the night :p

So, for future reference, is there any way to place stop loss orders on btct.co or the other crypto exchanges?

And there will be some kind of Transaction Issues™, therefore it will only be paid out in Early November™

So will there be a div this tuesday?

They're anticipating a rebound. Heh!

Did I miss an update of pictures/addresses?

Why are people buying?

TheSweed posted this, then I guess deleted his comment:


It's not an untested chip.  First of all, it's being designed by eASIC, who know what they're doing.

Second of all they're using an FPGA copy process. Their chip literally has the same structure as an FPGA, but all the "field programmable" stuff is stripped out and replaced with metal wires.

It will behave exactly the same as the FPGA it's based off of, so testing should be no problem.

I would like to point out that I am not calling anyone FUDsters, I am also not saying that labcoin has not had 2th hashing. My statement is just based on the info I have and that is that more tweaking and calibrating is needed before Labcoin feels comfortable with stating a stable hash rate.

here's the thing - who's to say ActM won't have the same or similar problems when it comes to production.  Every company so far has had issues, except for Bitfury. KnC hasn't shipped yet. I think the super-well funded entries like HF and Cointerra should go smoothly, but I don't see much evidence that ActM will be able to deploy and produce at scale the way they'll need too.  They may be delayed a couple days or weeks as well.

Trying real hard not to be rude when you post a counter point using a project that has a 10x higher valuation providing less proof of working tech.

If this is true price should correct to IPO value. (if this is not a scam, remember scam = 0)


I wonder how they got to 2TH/s?

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 was wondering if I should buy some, but at this point I don't want something that no one wants.

If we go under IPO this is over. I wonder who the bagholders are going to be, all these people set 0.0015 as a buy thinking that will be awesome when it gets filled.

Hint, your buys got filled for a reason.