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

[Bitcycle]

Well, at least they are hashing then.

True.  But what if they don't find a block by 7:46 PM UTC?

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[KCBitcoin]

Well, at least they are hashing then.

True.  But what if they don't find a block by 7:46 PM UTC?

join a pool and at least show the hashrate they are at?

[Vigil]

Well, at least they are hashing then.

True.  But what if they don't find a block by 7:46 PM UTC?

Then admit that they should have used a pool instead.

[Bitcycle]

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

[keeron]

Well, at least they are hashing then.

True.  But what if they don't find a block by 7:46 PM UTC?

Seriously? You don't know labcoin or this thread enough. They'll post another announcement of announcements :-) And we'll have another counter.

Really, are people this dumb to waste their money/BTC? Burnside is probably enjoying the show, but you guys (I mean, those dumb souls that own the shares) need to just dump them and enjoy the 0.5% return you'll get with BTC changing value then LABCOIN ever delivering.

But since this is life, and everyone learns their lessons... enjoy those wasted BTCs :-)

This is fun, I am glad I've stayed away from this scam

[Vigil]

Well, at least they are hashing then.

True.  But what if they don't find a block by 7:46 PM UTC?

Seriously? You don't know labcoin or this thread enough. They'll post another announcement of announcements :-) And we'll have another counter.

Really, are people this dumb to waste their money/BTC? Burnside is probably enjoying the show, but you guys (I mean, those dumb souls that own the shares) need to just dump them and enjoy the 0.5% return you'll get with BTC changing value then LABCOIN ever delivering.

But since this is life, and everyone learns their lessons... enjoy those wasted BTCs :-)

This is fun, I am glad I've stayed away from this scam

Don't knock it til you try it.

[VolanicEruptor]

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.  

[Bitcycle]

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.  

No, I mean at 2TH the odds are against them finding a block in the next 20 hours.

[Bitcycle]

[limbaugh]

No, I mean at 2TH the odds are against them finding a block in the next 20 hours.

Does it matter if they have found a block?

This is  a very friendly advice; tomorrow the mining address and hashing statistics will be posted for everyone to verify.

Wouldn't this mean we can see the hashrate?

[VolanicEruptor]

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" return rate rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.  

No, I mean at 2TH the odds are against them finding a block in the next 20 hours.

100BTC/week means 14.28 bitcoins per day.. so there is a 14.28/25 (57%) chance of discovering a block in 24 hours

edit: that's 47.5% chance of finding one in 20 hours

[Bitcycle]

No, I mean at 2TH the odds are against them finding a block in the next 20 hours.

Does it matter if they have found a block?

This is  a very friendly advice; tomorrow the mining address and hashing statistics will be posted for everyone to verify.

Wouldn't this mean we can see the hashrate?

How is anyone going to verify the hashrate without blocks found?

[Vigil]

No, I mean at 2TH the odds are against them finding a block in the next 20 hours.

Does it matter if they have found a block?

This is  a very friendly advice; tomorrow the mining address and hashing statistics will be posted for everyone to verify.

Wouldn't this mean we can see the hashrate?

How is anyone going to verify the hashrate without blocks found?

Lets change the game up a bit... why worry about verifying it at all?

[szmarco]

If this is not a scam, there are two reasons to insist using solo mining.
1. they need factual figures to compare the solo mode with a pool mode.
2. If they will deploy a huge hashrate in the future, the solo mode should be prepared early.

I mean If it's not a scam.

[BitThink]

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.  

1, 0.2% is not always 2TH. After 10 months it has to be 2PH.
2, 20% return after one year is good only when the stock keep its value after one year.
Or think it this way, you have to hold it 5 years and hope they can keep up with the hash rate increase and be live after 5 years to double your BTC.

There's a much better way, faster and safer, to achieve better outcome: sell it above .002 now.

I am not saying we all need to sell now, but just saying pure investing on this stock is even riskier than just speculating.

[Bitcycle]

100BTC/week means 14.28 bitcoins per day.. so there is a 14.28/25 (57%) chance of discovering a block in 24 hours

edit: that's 47.5% chance of finding one in 20 hours

Expanding on that approach

16 hr -  38%
12 hr-   28.5%
8   hr-   19%
4   hr-   9.5%

[VolanicEruptor]

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.  

1, 0.2% is not always 2TH. After 10 months it has to be 2PH.
2, 20% return after one year is good only when the stock keep its value after one year.
Or think it this way, you have to hold it 5 years and hope they can keep up with the hash rate increase and be live after 5 years to double your BTC.

There's a much better way, faster and safer, to achieve better outcome: sell it above .002 now.

I am not saying we all need to sell now, but just saying pure investing on this stock is even riskier than just speculating.

This is why I was referring to "snapshot annual return rate".. as this has been a benchmark in determining part of the share value for BTC stocks for awhile..20% SNAPSHOT ROI does not take time and rising difficulty into consideration, and I have already acknowledged that.  I am talking about a temporary share value while they get the other chips up and running.

[BitThink]

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.  

1, 0.2% is not always 2TH. After 10 months it has to be 2PH.
2, 20% return after one year is good only when the stock keep its value after one year.
Or think it this way, you have to hold it 5 years and hope they can keep up with the hash rate increase and be live after 5 years to double your BTC.

There's a much better way, faster and safer, to achieve better outcome: sell it above .002 now.

I am not saying we all need to sell now, but just saying pure investing on this stock is even riskier than just speculating.

This is why I was referring to "snapshot annual return rate".. as this has been a benchmark in determining part of the share value for BTC stocks for awhile..20% SNAPSHOT ROI does not take time and rising difficulty into consideration, and I have already acknowledged that.  I am talking about a temporary share value while they get the other chips up and running.

Fair enough. But I just want to point out using snapshot annual return rate to evaluate a mining company is quite misleading. In other industry, people often expect that the returning rate keeps stable, if not increasing, for years is common. In bitcoin mining, that means double hashing rate every month, at least in the next year.

The snapshot yearly return for most PMBs are larger than 300%.

[redphlegm]

If this is not a scam, there are two reasons to insist using solo mining.
1. they need factual figures to compare the solo mode with a pool mode.
2. If they will deploy a huge hashrate in the future, the solo mode should be prepared early.

I mean If it's not a scam.

I was just thinking this earlier. If it was me, I would get the solo mining operation up first, working out any configuration nuances with a small hashrate. Better that than figuring it out when the mamma jamma becomes available later. Time lost with low hash rate now = least amount of funds lost long-term.

I always try to think of a rational explanation. Still trying to figure out the reason for the delay of the mining address though (and doesn't solo mining add found blocks to different addresses?)

[VolanicEruptor]

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.  

1, 0.2% is not always 2TH. After 10 months it has to be 2PH.
2, 20% return after one year is good only when the stock keep its value after one year.
Or think it this way, you have to hold it 5 years and hope they can keep up with the hash rate increase and be live after 5 years to double your BTC.

There's a much better way, faster and safer, to achieve better outcome: sell it above .002 now.

I am not saying we all need to sell now, but just saying pure investing on this stock is even riskier than just speculating.

This is why I was referring to "snapshot annual return rate".. as this has been a benchmark in determining part of the share value for BTC stocks for awhile..20% SNAPSHOT ROI does not take time and rising difficulty into consideration, and I have already acknowledged that.  I am talking about a temporary share value while they get the other chips up and running.

Fair enough. But I just want to point out using snapshot annual return rate to evaluate a mining company is quite misleading. In other industry, people often expect that the returning rate keeps stable, if not increasing, years is common. In bitcoin mining, that means double hashing rate every month, at least in the next year.

I believe you have described exactly why dividend yield % is so much higher in BTC securities than it is on a real stock exchange.  It decreases so fast, that 20% - 40% is the common snapshot ROI rather than a solid 5%.