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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1040991 times)
Bitcycle
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September 18, 2013, 12:15:29 AM
 #10801



My point is not whether they missed their deadline or not, but why gave explicit deadlines and wait to the last minute to trigger this kind of dump and pump again and again.

It's blatantly obvious to me that they're hoping something will happen by a certain time, and it's not happening. So they have to keep shifting at the last minute.

My guess is that that something is finding a block.
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Vigil
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September 18, 2013, 12:16:20 AM
 #10802

Well, at least they are hashing then.
Bitcycle
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September 18, 2013, 12:17:23 AM
 #10803

Well, at least they are hashing then.

True.  But what if they don't find a block by 7:46 PM UTC?
KCBitcoin
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September 18, 2013, 12:19:16 AM
 #10804

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?
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September 18, 2013, 12:19:25 AM
 #10805

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
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September 18, 2013, 12:21:36 AM
 #10806


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

I have to talk myself out of dumping. Heh.
keeron
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September 18, 2013, 12:22:42 AM
 #10807

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
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September 18, 2013, 12:26:21 AM
 #10808

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
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September 18, 2013, 12:28:34 AM
 #10809


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
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September 18, 2013, 12:29:45 AM
 #10810


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
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September 18, 2013, 12:32:38 AM
 #10811



limbaugh
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September 18, 2013, 12:32:42 AM
 #10812


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
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September 18, 2013, 12:32:54 AM
 #10813


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
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September 18, 2013, 12:35:33 AM
 #10814


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
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September 18, 2013, 12:40:06 AM
 #10815


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
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September 18, 2013, 12:41:45 AM
 #10816

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
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September 18, 2013, 12:42:17 AM
 #10817


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. Smiley

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
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September 18, 2013, 12:43:53 AM
 #10818



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
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September 18, 2013, 12:44:43 AM
 #10819


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. Smiley

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
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September 18, 2013, 12:51:09 AM
 #10820


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. Smiley

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%.
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