[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)

[velacreations]

That being said, burnside confirmed last week that they hadn't dumped, yet.  He also confirmed that they never requested the shares to be locked.

Burnside confirmed that 85% of their shares were still there.
That means 15% are gone - that's 450k shares.
Lets say they were sold at ~0.0035, that's 1575 BTC.

Please don't use what burnside confirmed as if it was a good thing.

yeah, I wasn't trying to paint it as positive, but you are right, he confirmed 15% are gone. 

What is interesting about that is that they could dump 10% right now, and still have their promise in tact.  What would a 10% dump do to the current market price?

Also, that confirmation was last week, we have no idea what they are right now.

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[TsuyokuNaritai]

Burnside confirmed that 85% of their shares were still there.
That means 15% are gone - that's 450k shares.
Lets say they were sold at ~0.0035, that's 1575 BTC.

Please don't use what burnside confirmed as if it was a good thing.

Burnside didn't say they'd been sold, he said they weren't held in the account he associated with Labcoin.

Yes, they are gone, like I said. We don't know what happened with them, so we have to assume they have been sold.
Painting it like burnside said or implied in any way that they haven't been sold is wrong.

No, we don't have to assume they have been sold. Now you're just spreading FUD.

I never said Burnside implied they haven't been sold, but come to think of it... here's what Burnside actually said:

I hope the LABCOIN guys don't mind me disclosing this.  Over 85% of the 3 million shares have not left a specific account I know is held in the Labcoin name.  The other 15% could easily be held in any of the next few top shareholders, but I am not privy to who is who without some assistance.

[Bitcycle]

That ask wall at 30 has to be real, any big buy is going to hit it now.

Interesting, I fully expected it to be pullled when we got this close.

Looks like LC is going to miss the deadline in China time.

[Zakryze]

That ask wall at 30 has to be real, any big buy is going to hit it now.

Interesting, I fully expected it to be pullled when we got this close.

Looks like LC is going to miss the deadline in China time.

Because the team is on vacation in hawaii.

[Luckybit]

LC's main objective isn't to appease us, it's to get kit on line. Sit back relax and watch the waves...

Do you know what their objective is?
Do they have any incentive to care about the stock price? How do you know they'll ever pay dividends if they don't pay it today? The probabilities of it being a scam begin to increase when you gather new bits of evidence and combine it all to form a picture.

A) Shares have been sold by the Labcoin development team and it's not locked.
B) The Labcoin team has been shown to use deception and dishonesty against the shareholders whether deliberately or not by making promises and not keeping them, and by putting up images that don't look real and claiming to be hashing without providing evidence.

Now we also know they haven't sold all their shares so that is on the plus side of the evidence. We also know they do have the money but are still communicating here, this is neutral evidence because we don't know their intentions.

If it's a complete scam they probably would just stop communicating and disappear. The longer the disappearance the more likely it would be to be a scam so if they claim they wont update until October then you gotta worry a lot. If they do frequent updates then you have less to worry about.

At this point we don't know what they are going to do. It could be a scam, or not. It's possible they are having difficulties with their deployment, that is a real possibility.  Whether people should buy, sell or hold should depend on which of these possibilities they think is most likely.

So you think it's most likely that they are a scam? Sell. You think it's more likely that they are having deployment issues? Hold. You think it's a scam but that they aren't going to dump until the price rises significantly? Hold.

Notice I don't recommend anyone buy?

[TsuyokuNaritai]

That ask wall at 30 has to be real, any big buy is going to hit it now.

Interesting, I fully expected it to be pullled when we got this close.

The price isn't significantly closer to the wall than it has been for a several hours, and the volume is small enough that it's safe from normal trading. If it's put there by a bot (to lower the price into those tiny bids that keep appearing) then it would probably not disappear till it's touched.

[TsuyokuNaritai]

A) Shares have been sold by the Labcoin development team

More FUD, or at best stating opinion as if it were fact. If you have proof that Labcoin have sold a single share, as oppose to 15% of their shares just being held in the accounts of other insiders like Burnside said, please present it.

[Zakryze]

A) Shares have been sold by the Labcoin development team

More FUD, or at best stating opinion as if it were fact. If you have proof that Labcoin have sold a single share, as oppose to 15% of their shares just being held in the accounts of other insiders like Burnside said, please present it.

he never said it was more than 15% so dont call him a FUDster... you are missreading dude
some ppl have very thin skin in this thread and are easy at accusing others...

[TMAN]

LC's main objective isn't to appease us, it's to get kit on line. Sit back relax and watch the waves...

Do you know what their objective is?
Do they have any incentive to care about the stock price? How do you know they'll ever pay dividends if they don't pay it today? The probabilities of it being a scam begin to increase when you gather new bits of evidence and combine it all to form a picture.

A) Shares have been sold by the Labcoin development team and it's not locked.
B) The Labcoin team has been shown to use deception and dishonesty against the shareholders whether deliberately or not by making promises and not keeping them, and by putting up images that don't look real and claiming to be hashing without providing evidence.

Now we also know they haven't sold all their shares so that is on the plus side of the evidence. We also know they do have the money but are still communicating here, this is neutral evidence because we don't know their intentions.

If it's a complete scam they probably would just stop communicating and disappear. The longer the disappearance the more likely it would be to be a scam so if they claim they wont update until October then you gotta worry a lot. If they do frequent updates then you have less to worry about.

At this point we don't know what they are going to do. It could be a scam, or not. It's possible they are having difficulties with their deployment, that is a real possibility.  Whether people should buy, sell or hold should depend on which of these possibilities they think is most likely.

So you think it's most likely that they are a scam? Sell. You think it's more likely that they are having deployment issues? Hold. You think it's a scam but that they aren't going to dump until the price rises significantly? Hold.

Notice I don't recommend anyone buy?

This would be the worst long con in the history of mankind.  Incompetence 100% not being forthcoming with information 100% a con no chance

[Luckybit]

A) Shares have been sold by the Labcoin development team

More FUD, or at best stating opinion as if it were fact. If you have proof that Labcoin have sold a single share, as oppose to 15% of their shares just being held in the accounts of other insiders like Burnside said, please present it.

Okay that is possible too. But all of these activities to decrease transparency is what fuels uncertainty, risk, and FUD. You have no way to prove either way because it's 50/50.

If the shares were locked we would know for certain. So why didn't they let Burnside lock the shares? What are they planning to do?

[TsuyokuNaritai]

B) The Labcoin team has been shown to use deception and dishonesty against the shareholders

Or more likely, the Labcoin team being typical tech genius types struggle with social, communication & language skills, and suck every last dick in the world at PR.

[TMAN]

B) The Labcoin team has been shown to use deception and dishonesty against the shareholders

Or more likely, the Labcoin team being typical tech genius types struggle with social, communication & language skills, and suck every last dick in the world at PR.

I like your style, these guys aren't a con. They are proving that they don't care about short term share price, that's a good thing. They are talking long term

[Luckybit]

B) The Labcoin team has been shown to use deception and dishonesty against the shareholders

Or more likely, the Labcoin team being typical tech genius types struggle with social, communication & language skills, and suck every last dick in the world at PR.

All they had to do to avoid all this is lock the shares. No one would be accusing them of being a scam and there wouldn't be wild swings in the share price if they locked the shares. They refused while trying to act like they would. Then they miss deadlines they set after promising to have evidence of hashing.

That is not communication and PR, that is incompetence. If they locked the shares and did not make any promise at all and just said sometime in September they'd be hashing, that would have been better. They went with specific dates and time.

[Luckybit]

B) The Labcoin team has been shown to use deception and dishonesty against the shareholders

Or more likely, the Labcoin team being typical tech genius types struggle with social, communication & language skills, and suck every last dick in the world at PR.

I like your style, these guys aren't a con. They are proving that they don't care about short term share price, that's a good thing. They are talking long term

How do you know what they care about? There is no proof of anything. It's basically the same proof you had when it was at IPO, plus some missed deadlines. So how is the price of shares so high?

If you want to hold then do so. Just don't encourage anyone to buy until after the dividends go out.

[Zakryze]

i bet they are just too damn high

like the difficulty of a real proof of existence...

[TsuyokuNaritai]

A) Shares have been sold by the Labcoin development team

More FUD, or at best stating opinion as if it were fact. If you have proof that Labcoin have sold a single share, as oppose to 15% of their shares just being held in the accounts of other insiders like Burnside said, please present it.

he never said it was more than 15% so dont call him a FUDster... you are missreading dude
some ppl have very thin skin in this thread and are easy at accusing others...

Not sure how you could have read it that way, but sorry if my sentence was ambiguous. Read it as: "If you have proof that Labcoin have sold any shares at all, please present it.".

[velacreations]

I like your style, these guys aren't a con. They are proving that they don't care about short term share price, that's a good thing. They are talking long term

except when they beg people to buy the shares in the dips...

[Bitcycle]

The 'are they a scam' boat has long since sailed.

If you seriously think they might be a scam, your ability to evaluate information is pretty near zero.

If you bring it up now, I automatically assume you have an agenda.  It's either that or you're stupid.  Either way.

The question now is are they at all competent?

That's still an entirely open question.

[Zakryze]

getting people into buying shares with wrong information is still a scam. maybe they are all working on their bachelors degree in fucking up and let us pay for it. who knows....

[Bitcycle]

I told you that wall was real.