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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
mgio
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July 31, 2013, 09:33:56 PM
 #1081

Be professional, be a part of the community and be a part of the solution rather than the problem.

Are you kidding? How professional was this mess with the bug on deposits in the latest 3h of the IPO Huh

The solution would have been to extend the deadline before the cutoff so that those who suffered the bug could place their bids.

Outside BTC world, any professional trader would just find a complaint at the exchange, and win. See Facebook IPO glitches, see who won in court and who lost.

Umm, if a problem with your bank wire, ACH, SEPTA payment, etc held up a deposit due to whatever reason then you would have no recourse. Delays happen. Waiting until the last minute to do something is not a guarantee for success.

I get that it's unfortunate. There have been times when I've wanted to get in or out of a position and BTCT has been ...  "less responsive" than I would like. Smiley -> Burnside
I know it's frustrating - it happens to all of us at some point. I'm serious about wanting to improve things - start a thread and get Burnside to look into the bug.

Yes, but since the IPO was being done on BTCT and the bug was on BTCT, the IPO should have been delayed until the bug was fixed.

This was not an unavoidable situation. The right thing could have been done but it wasn't.
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gimme_bottles
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July 31, 2013, 09:34:42 PM
 #1082

srsly guys, just wait for the first dumper to get your cheap shares.
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July 31, 2013, 09:34:50 PM
 #1083

I would like a confirmation on if yes/no you will give 24-48 hours notice on the IPO? I need to juggle some funds around before I buy and want to make sure I do it in time. thanks Smiley

We aim to launch the IPO as fast as possible after we are approved by anough votes. That said we will give between 16-24 hours notice before the start of share sales. We will also attempt to place the sale during US business hours.

D

Also, way to go back on your word Swede.  I know in all the excitement you wanted to rush the IPO, thus these mistakes happened.  Way to screw over the people following this stock who just didn't happen to be on in the four hours from your announcement to the sale.
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July 31, 2013, 09:35:13 PM
 #1084

srsly guys, just wait for the first dumper to get your cheap shares.

They will likely never be anywhere near this cheap again.
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July 31, 2013, 09:36:08 PM
 #1085

Yes, things can go wrong. After that it's time to fix it.
I bet he's working his ass off on that now.

I see what you're doing there. Personal responsibility. Take some.

ShroomsKit
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July 31, 2013, 09:36:35 PM
 #1086

Burnside, i'm almost starting to think you're gonna ignore this coins dissapearing thing.
Which we all know would be just crazy...right?
It's been hours now. A lot of us lost out on a lot. Maybe it's time to address this and work on a solution?

Its price is not a very relevant factor in its adoption....
TMAN
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July 31, 2013, 09:37:20 PM
 #1087

how many hours till we unlock? ive confused myself with the time differences now!

#FREETMAN
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July 31, 2013, 09:37:43 PM
 #1088

srsly guys, just wait for the first dumper to get your cheap shares.

They will likely never be anywhere near this cheap again.

Nope and those of us that have been following and support Labcoin will be rewarded. It's going to be fun!
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July 31, 2013, 09:38:00 PM
 #1089

Yes, but since the IPO was being done on BTCT and the bug was on BTCT, the IPO should have been delayed until the bug was fixed.

This was not an unavoidable situation. The right thing could have been done but it wasn't.

It's is so much exactly my point and my thought, word for word.
So much frustration could have been avoided by just extending the deadline a couple of hours to compensate for the bug.

But "they" decided otherwise, and assume "they" cannot / will not be held accountable for that decision.

Well, "they"'d better be right about this, because that is a bold assumption.
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July 31, 2013, 09:38:04 PM
 #1090

how many hours till we unlock? ive confused myself with the time differences now!


8pm cst? est? utc? aud? gbp? wtf?

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July 31, 2013, 09:39:40 PM
 #1091

It's prevented me from realising either the profits or losses from a massive risk.... that's the way the world works, nothing free about it. Regardless, this clusterfuck of retardedness prevented something it shouldn't have. Be it my profit or loss.

Please.  there was a limited quantity of shares and people who got in first and paid the most attention to the thread got 'em.  Labcoin didn't "owe" you anything. You can still purchase shares on the market once trading actually starts.

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July 31, 2013, 09:39:59 PM
 #1092

how many hours till we unlock? ive confused myself with the time differences now!


8pm cst? est? utc? aud? gbp? wtf?

he said soon so i imagine within 1-2 hrs
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July 31, 2013, 09:41:33 PM
 #1093

Burnside, these coins not showing up was obviously not done on purpose right?

No, certainly not on purpose.  The deposit system usually takes a couple of deposits an hour, not hundreds.  Sad

We'll beef it up obviously for future use, but any time you come across a new mode of business like this you find new bottlenecks.

Extremely frustrating for sure, but 99% of the users are still way better off than they were 20 hours ago when we were looking at doing it auction style and frankly, even if you missed out you may end up paying less for the shares now than you would have had the auction style IPO run it's course the way things were getting bid up.  (hard to say for sure)

Props to LABCOIN on this one for opting to go this route.  They could have been greedy and stuck with the auction and made 2x the coins...


I'm not a Coinbase fan -- I placed a buy order, they took the funds out of my account, then a week later the price went up and they canceled the buy and closed my account.  You've been warned.  Use a different exchange.
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July 31, 2013, 09:42:37 PM
 #1094

I'm almost done massaging the orders.  Users will see their altered orders up on the books soon.

My missing coins finally showed up. I already have an order, can I edit it and increase this order's quantity?

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July 31, 2013, 09:43:54 PM
 #1095

Burnside, these coins not showing up was obviously not done on purpose right?

No, certainly not on purpose.  The deposit system usually takes a couple of deposits an hour, not hundreds.  Sad

We'll beef it up obviously for future use, but any time you come across a new mode of business like this you find new bottlenecks.

Extremely frustrating for sure, but 99% of the users are still way better off than they were 20 hours ago when we were looking at doing it auction style and frankly, even if you missed out you may end up paying less for the shares now than you would have had the auction style IPO run it's course the way things were getting bid up.  (hard to say for sure)

Props to LABCOIN on this one for opting to go this route.  They could have been greedy and stuck with the auction and made 2x the coins...



You've fucked up burnside - you could have saved some credibility.

Weren't you going back to bitfunder for good 10 pages ago?

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July 31, 2013, 09:44:02 PM
 #1096

Burnside, these coins not showing up was obviously not done on purpose right?

No, certainly not on purpose.  The deposit system usually takes a couple of deposits an hour, not hundreds.  Sad

We'll beef it up obviously for future use, but any time you come across a new mode of business like this you find new bottlenecks.

Extremely frustrating for sure, but 99% of the users are still way better off than they were 20 hours ago when we were looking at doing it auction style and frankly, even if you missed out you may end up paying less for the shares now than you would have had the auction style IPO run it's course the way things were getting bid up.  (hard to say for sure)

Props to LABCOIN on this one for opting to go this route.  They could have been greedy and stuck with the auction and made 2x the coins...


+1

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DopeFish
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July 31, 2013, 09:44:08 PM
 #1097

Burnside, these coins not showing up was obviously not done on purpose right?

No, certainly not on purpose.  The deposit system usually takes a couple of deposits an hour, not hundreds.  Sad

We'll beef it up obviously for future use, but any time you come across a new mode of business like this you find new bottlenecks.

Extremely frustrating for sure, but 99% of the users are still way better off than they were 20 hours ago when we were looking at doing it auction style and frankly, even if you missed out you may end up paying less for the shares now than you would have had the auction style IPO run it's course the way things were getting bid up.  (hard to say for sure)

Props to LABCOIN on this one for opting to go this route.  They could have been greedy and stuck with the auction and made 2x the coins...



Burnside; please prosess the withdraws
foxykah
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July 31, 2013, 09:44:32 PM
 #1098

how many hours till we unlock? ive confused myself with the time differences now!


8pm cst? est? utc? aud? gbp? wtf?

he said soon so i imagine within 1-2 hrs

according to the original post, and taking this CST-CDT thing into consideration, if we assume they mixed them up the time they announced the opening of trading, it is 3 hours 15 minutes from this post.

Good things come to those who wait.
ShroomsKit
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July 31, 2013, 09:44:35 PM
 #1099

Burnside, these coins not showing up was obviously not done on purpose right?

No, certainly not on purpose.  The deposit system usually takes a couple of deposits an hour, not hundreds.  Sad

We'll beef it up obviously for future use, but any time you come across a new mode of business like this you find new bottlenecks.

Extremely frustrating for sure, but 99% of the users are still way better off than they were 20 hours ago when we were looking at doing it auction style and frankly, even if you missed out you may end up paying less for the shares now than you would have had the auction style IPO run it's course the way things were getting bid up.  (hard to say for sure)

Props to LABCOIN on this one for opting to go this route.  They could have been greedy and stuck with the auction and made 2x the coins...



Thanks for the answer and good to hear it wasn't done on purporpse.
There is one thing that still bothers me and that is you have/had most likely several options to work something out with us but you seem unwilling. That's really bad imo.

Its price is not a very relevant factor in its adoption....
superbit
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July 31, 2013, 09:44:50 PM
 #1100

No offense but this is bullshit. I was one of the 3 million bids at 0.001 before I had to move it up as that price wouldn't get filled. Then swede mentioned earlier that book would likely be wiped. Now, I wake up and he says the opposite and it's locked and I don't have any bids.

gee gee

If you moved you're bid up you are included.

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