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labcoin transactions are frozen again. Can't buy or sell.
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Are these things going to come with any instructions on how to get them running with CGMiner and such?
From the website: Comes with software for Windows/Mac/Linux (runs with cgminer). I assume that means that cgminer included with the kit will already be verified to work with the boards. Most likely plug and play. OK, saw that but wasn't sure if I would have to configure cgminer like I did for my GPUs. I assume there will be firmware upgrades as well from time to time. |
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Are these things going to come with any instructions on how to get them running with CGMiner and such?
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Pull those asks! Don't sell your labcoins cheap!  For real |
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I think the lag may have resulted in the early sell-off a bit.
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Can't buy anything.
ME TOO, but I saw a deal. . Why Too much traffic - starting to rise again. |
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Would have been nice to sell at .004 and then bought back in at .002.
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So many dumping their shares for a measly 2-3x
What did you expect? I doubt many people take this seriously. It's a pump and dump. Just like all the shitty alt coins. If i would've gotten my coins i also would sell right away at 2 or 3 times the price i paid for it. Guess what I am saying is that they are selling too low, they could have had much better gains if they had some discipline and sold higher. |
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It would be helpful to the lag if BTC-TC and BitFunder had real-time charts. You are forced to refresh the screen to see what is happening. Its like flying blind.
btc-tc does have a realtime feed. A feed maybe but not a chart. A RT feed does me no good. |
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It would be helpful to the lag if BTC-TC and BitFunder had real-time charts. You are forced to refresh the screen to see what is happening. Its like flying blind.
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So many dumping their shares for a measly 2-3x
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Is the IPO open yet?
The IPO ship sailed hours ago. |
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tl;dr can someone explain why we only get 40%, i put all the spare BTC in which was minuscule I had because i accidentally entered 3200 instead of 2300 in a buy on a different stock.
It was a genius laste-minute scheme to allow those who just found out about the IPO 2 hrs before it ended to dump as many BTC in to dilute the shares while those who were prepared ahead of time had no idea of this new scheme and thus got nowhere near the shares they could have if there would have just been an auction for those who first placed their bids on the 7,000,000 shares. |
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This is ridiculous.
I am living in China.
Before I go to sleep , I placed some order. After I wake up, every changed. My order become only 39% of origin order, and the assert frozen.
If I know the policy change, I will place more order. But both the policy change and the cut off happened when I was sleeping.
it's totally UNFAIR. And it's UNFAIR for all the people living in +5, +6, +7, +8, +9, +10 timezone, which is near 1/3 of the world.
Burnside, when you change the rule, you must have some lead time, this lead time must no less than 12 hours. Or, you should postpone this IPO, instead of doing like this and totally hurt your reputation.
Exactly... but the whole concept of the percentage is ridiculous because it favors those with large amounts of BTC. They should have had an IPO registration (first come first serve) of 1000 investors or more or less (whatever number), then allow those who registered on time to place bids live and bid for price (highest bidder then first come first serve). |
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This is going to be a very quick race to the bottom.
Feel a bit sorry for Labcoin themselves. This thread should be about them, not about trader issues. Perhaps they need to move to another thread.
This is their IPO thread where we talk about the IPO. There is another thread for Labcoin general discussion, plans, updates, and specs. |
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The only people who got screwed were the ones who had their investments ready to go yesterday and then wake up to this scheme that shares are going to be done through a percentage after all the latecomers transfer their hoard of BTC to dilute the shares.
Essentially making this IPO favor those with huge stashes of coin even if they had no intention of making a large investment. Rather than the 1000 shares I planned on, I will get around 400, if I am lucky. But I have the BTC to buy 1000 shares - I am just not allowed to purchase them becuase my stash of BTC isn't large enough. Had people known about this retardation, they would have transfered more BTC before all of you Johnny-come-latelys bum-rushed the echange with huge influxes of coin to steal away shares.
IPOs are usually closed deals, people register before hand and no one else can bid. You don't feel bad for everyone who was unaware of the IPO and jumped in at the last minute altering the rules to give them a chance. I had everything set to go because I knew I wouldn't have access to a computer during the launch.
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Almost $200k worth of BTC?
See, this is what I'm talking about - people would vastly inflate the amount they wanted to buy.
Agreed, Burnside please hold those BTC deposits for another hour! He is brilliant if he actually prevents these asses from gaming the system. +1, we dont need that BTC in BTCT right now. I want to buy shares as i have the right to buy shares, just like you do. You have no right to buy shares. You have a right to pursue the purchase of shares. |
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Terrible logic, the asset issuer said they would give 16+ hours notice. That never happened, because you happened to login closer to when the asset got approved doesn't make you more prepared, you just live in a better timezone in this case.
My coins were already on the site, so yes, I was better prepared. The bidding was only revealed to work this way sometime between 8:00 AM this morning and now. I only transfered what I needed based on the initial plan. |
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So we have to rebid? I am at work and having no way to bid. I thought this was going to start at 8:00 pm est. The plans have changed so many times. Do I need to just bid at .001 or higher?
only at .001, and as much as you can. only bid volumes count up till the cap, which is still unknown. The amount of shares in the IPO remains at 7 million. Only the distribution percentage per investor varies with bid volume (this is how I understand it). Total share volume remains also unchanged at 10 million shares. Don't understand what this means. Last night I bid 1000 shares at .001 for 1 BTC. What does this mean for me now? It means that you will be included in the IPO. How many shares you get will be determined by how many people have bit at or above .001. All shares will be sold at .001. If there are 20,000,000 shares on the orderbook at 4PM ET at or above .001, everyone will receive 35% of their number of shares on the order book at 20,000,000 on orderbook at or above .001 7,000,000 available shares 7,000,000 / 20,000,000 = .35 So, if you have an order for 1000, you will only receive 350 shares for BTC.35 That is ridiculous. That means there is no way for me to spend my 1 BTC to get my 1000 shares. I have never heard of anything this silly. Those who bid late shouldn't get to bid at all. That is how a real IPO works. How am i bidding late??? They haven't been released yet! We've been told we can bid till a certain minute. Guess what, that minute is still a hour away. God, the replies are totally insane. What a bunch of greedy assholes! Because the bidding started very early this morning and 7,000,000 share bids were placed. You were too late - i.e., you weren't prepared to bid when the bidding started to secure shares. I was prepared and planned to get shares but now my shares are going to be cut in half because 1000s of people can now drop a bunch of coin to dilute my shares. IF I put 1 BTC in I should get 1BTC worth of shares not .5 BTC worth. Since we can bid for another hour i have JUST AS MUCH RIGHTS as you do to these shares. Why do you act like that's not the case? Are you more special? Is your Bitcoin more special? You're a greedy ass and don't want others to buy shares. That's what's going on. Because I would have transfered more coin to secure 1000 shares. Do you see? They came up with some random crazy plan so that the slow kids wouldn't feel left out. To beetles dude: I was reading the updates on the forums to make sure I got in. you all were not and now you are diluting my shares. |
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