[ANN] labcoin ASIC - v.1 @130nm/300Mhz -16 cores chip - European / Chinese Team

[TheSwede75]

UPDATE:

After an extremely busy week we are proud to announce that our Chinese team is working hard on the final place & route tedious task, scheduled for completion on this weekend.
We confirm that we're going out on fab next week, as per our last announcement.
For anyone who's interested on investing, we are working on the final details of the IPO and will submit all documentation to btct.co today.
We expect the IPO to be launched this weekend as well, and not later than monday 07/22.

What happened to the IPO?

The IPO process is taking slightly longer than expected. We are dotting i's and crossing T's as we speak. Expect more info shortly.

[dan99]

They are taking it nice and easy to make sure everything is perfect ..

[merv77]

UPDATE:

After an extremely busy week we are proud to announce that our Chinese team is working hard on the final place & route tedious task, scheduled for completion on this weekend.
We confirm that we're going out on fab next week, as per our last announcement.
For anyone who's interested on investing, we are working on the final details of the IPO and will submit all documentation to btct.co today.
We expect the IPO to be launched this weekend as well, and not later than monday 07/22.

What happened to the IPO?

The IPO process is taking slightly longer than expected. We are dotting i's and crossing T's as we speak. Expect more info shortly.

any news or details about IPO..?

question to the TheSwede75, have you already bought into private IPO...?
how are you involved in this offering now..? 

I'm just curious and/or have I missed something

[TheSwede75]

UPDATE:

After an extremely busy week we are proud to announce that our Chinese team is working hard on the final place & route tedious task, scheduled for completion on this weekend.
We confirm that we're going out on fab next week, as per our last announcement.
For anyone who's interested on investing, we are working on the final details of the IPO and will submit all documentation to btct.co today.
We expect the IPO to be launched this weekend as well, and not later than monday 07/22.

What happened to the IPO?

The IPO process is taking slightly longer than expected. We are dotting i's and crossing T's as we speak. Expect more info shortly.

any news or details about IPO..?

question to the TheSwede75, have you already bought into private IPO...?
how are you involved in this offering now..? 

I'm just curious and/or have I missed something

There has been no public  IPO or any form of public ownership distribution yet.

 I am helping Labcoin and Sam with the IPO process and possibly future communication and support. We (Labcoin) are currently finalizing the IPO documents for the IPO on BTCT.CO

As soon as the IPO is up for vote and we are comfortable that we have described the venture so that investors can make a 100% well informed decision there will be a thread opened under 'securities', and we will post link and information here,

[TheSwede75]

They are taking it nice and easy to make sure everything is perfect ..

We of course cannot promise perfection, but we do aim for an IPO that is correct and honest. Labcoin has also reached a few very important goals lately and we will communicate these shortly.

[Ytterbium]

Interesting.  What are the legal issues involved with doing an IPO on btct.co?  Are they legally binding securities? What jurisdiction do they fall under?

Are you going to publish a full prospectus, with full disclosure of assets, revenue, etc? (I guess not much revenue yet)

[TheSwede75]

Interesting.  What are the legal issues involved with doing an IPO on btct.co?  Are they legally binding securities? What jurisdiction do they fall under?

Are you going to publish a full prospectus, with full disclosure of assets, revenue, etc? (I guess not much revenue yet)

I think technically the only legality under which the IPO would fall under is the rules for capital procurement for the country where a project or company is incorporated (If any).

That said, Labcoin is aiming for a very thorough and honest IPO and we will be publishing a prospectus complete enough to give all investors a chance to make informed decisions, as well as ask questions etc.

[kingcoin]

Which MPW are you using? Mosis?

[TheSwede75]

The LABCOIN asset is now open for voting on BTCT.CO and you can find updated information on the IPO and more in the securities thread here: https://bitcointalk.org/index.php?topic=263445.0;all

If you are a voting share holder in BTCT.CO please make sure to vote. If there are questions we answer these in the securities thread.

[onecent]

Reserved

[bitrocket]

Please give a full 24 hours before unlocking the IPO to allow time to transfer BTC into the exchange. if orders do indeed fill 'auction style' from the highest bidder down, allowing time for everyone to place their bids competitively will help the company raise more funds and give everyone a chance to buy shares.

[BitCsByBit]

Please give a full 24 hours before unlocking the IPO to allow time to transfer BTC into the exchange. if orders do indeed fill 'auction style' from the highest bidder down, allowing time for everyone to place their bids competitively will help the company raise more funds and give everyone a chance to buy shares.

Go to: https://bitcointalk.org/index.php?topic=263445.0;all

It seems like it has already started!!!

[freedomno1]

Information is vital reserved

[freedomno1]

Please give a full 24 hours before unlocking the IPO to allow time to transfer BTC into the exchange. if orders do indeed fill 'auction style' from the highest bidder down, allowing time for everyone to place their bids competitively will help the company raise more funds and give everyone a chance to buy shares.

Go to: https://bitcointalk.org/index.php?topic=263445.0;all

It seems like it has already started!!!

It has not that is just people putting in bid orders the ask side is still empty
The asset just was officially approved

[BitCsByBit]

Please give a full 24 hours before unlocking the IPO to allow time to transfer BTC into the exchange. if orders do indeed fill 'auction style' from the highest bidder down, allowing time for everyone to place their bids competitively will help the company raise more funds and give everyone a chance to buy shares.

Go to: https://bitcointalk.org/index.php?topic=263445.0;all

It seems like it has already started!!!

It has not that is just people putting in bid orders the ask side is still empty
The asset just was officially approved

Will be on a first in first served basis or auction style?

IMHO it should be FIFS!

[freedomno1]

Please give a full 24 hours before unlocking the IPO to allow time to transfer BTC into the exchange. if orders do indeed fill 'auction style' from the highest bidder down, allowing time for everyone to place their bids competitively will help the company raise more funds and give everyone a chance to buy shares.

Go to: https://bitcointalk.org/index.php?topic=263445.0;all

It seems like it has already started!!!

It has not that is just people putting in bid orders the ask side is still empty
The asset just was officially approved

Will be on a first in first served basis or auction style?

IMHO it should be FIFS!

Outdated refer below that


Burnside said
Highest to Lowest
Then
First in First Serve

Since IPO is 0.001000 and its nearly filled to the 7000 bitcoin goal it is highly likely that not all orders will be filled at that price so earliest bids will be taken from those at the lowest price.

0.001001 is probably the safest bet before people start moving to it as bids above IPO are only 2558 BTC of the current changing bitcoin total which is 6759 BTC at the IPO price and then dust below it

Quick question is this still up to date
http://www.labcoin.com/presentation.html

EDIT Well that was fast when I Was napping a lot of things changed XD

UPDATE FINAL:

(Ethan Burnside) Hi all, I'm posting this somewhat blind.  (haven't caught up with the last 10 or so pages...)

TheSwede75 and I have talked a bit and here's what we've come up with:

- 3 PM CST/4 PM EST is the cutoff for bidding.  (EDITED!)
- Sometime shortly after that time I will lock the asset.
    - All bids below 0.001 will be thrown out.
    - All bids posted after the cutoff will be thrown out.
- We will then add up all the bids and use the total to create a ratio of number of shares ordered to number of shares available.  (eg, 9,000,000 ordered, 7,000,000 available gives us a ratio of 0.777)
- We will multiply everyone's orders times the ratio and extract a whole number of shares on a per order basis.  The orders will then be filled according to the result at 0.001 BTC.  (regardless of what they actually bid.)
- This will leave some number of shares available due to rounding down to a whole number on every calculation.  We'll figure out a way to deal with these fairly.  Most likely recipients will be chosen at random from the pool of bidders but they will be a very small portion of the overall issue.
- 8 PM CST/9 PM EST we remove the admin lock and everyone can start trading.

Wednesdays are already full days for me with ASICMINER-PT related duties and my day job.  So please be patient today.  Responses to customer service and related requests will unfortunately be delayed significantly so that I can write and test all the code necessary to execute the plan above.

sounds sane
Cheers.

[VolanicEruptor]

I wish I could have bought some shares at 2:59, or told a buddy to, and then lock it right away. 
Great way to increase the demand and get the most return..
(fuck you)

[Ytterbium]

I wish I could have bought some shares at 2:59, or told a buddy to, and then lock it right away. 
Great way to increase the demand and get the most return..
(fuck you)

Everyone got shares based on the % of the total buy interested, all priced at 0.001 btc.  Everyone got about 40% of what they asked for, so, if you bid for 100 shares, you got about 40 shares and paid 0.04btc

They got exactly what they asked for: 7,000 BTC.  No less, no more.

[qnosh]

interesting .and mark this.want to know more about ur IPO details.

[polarhei]

what's the target price for your products? or Hash rate/$?

We won't yet talk about 'prices', but our cost is about 18~20 USD/Ghash for version 1, still just an estimation. Take it with a grain of salt.

Sound reasonable. I should trust you first as the distance is very close. Hong Kongers inside.