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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1042425 times)
redphlegm
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September 18, 2013, 12:51:29 AM
 #10821

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?)

Whiskey Fund: (BTC) 1whiSKeYMRevsJMAQwU8NY1YhvPPMjTbM | (Ψ) ALcoHoLsKUfdmGfHVXEShtqrEkasihVyqW | (CGB) 5WHiSkEY8ocPHdeczVfpaGfquJK3j3Lqis
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VolanicEruptor
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September 18, 2013, 12:52:48 AM
 #10822


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, 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%.  

matt4054
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September 18, 2013, 12:53:43 AM
 #10823

Guys, it's official, I want back in!

Code:
Received Bid Order: 100000 @ 0.0001 BTC

Placed Purchase Order #2742476: 100000 @ 0.0001 BTC.
drawingthesun
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September 18, 2013, 12:54:26 AM
 #10824

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?)

You move all mined bitcoins into an address of your choice. No point leaving them in their mined addresses especially if they belong to shareholders. You make 1 pass through address for verification of mined blocks.
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September 18, 2013, 12:56:17 AM
 #10825

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?)

You move all mined bitcoins into an address of your choice. No point in leaving them in their mined addresses especially if they belong to shareholders. You make 1 pass through address for verification of mined blocks.

I would rather used a shared wallet.dat with keypoolsize=100000 or something like that.
Industrial solo miners know about this, so I expect them to do as well Cheesy
velacreations
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September 18, 2013, 12:57:00 AM
 #10826

We understand the feelings you are going through but at the same time we know most of the accusations thrown at us are foolish.
Please wait for results to take your decisions. We will show everyone this operation is very serious within about one month from now.
This is  a very friendly advice; tomorrow the mining address and hashing statistics will be posted for everyone to verify.

This has been a long and difficult endeavour,thanks again.
you forgot the part where you say "please buy these shares, pretty please"

it takes me literally 2 seconds to copy and paste a BTC address.  It takes me about 15 seconds to generate a signed message and post an address.

we all know they have the time to post an address, cause that last "update" took longer than that.

drawingthesun
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September 18, 2013, 12:58:49 AM
 #10827

I would rather used a shared wallet.dat with keypoolsize=100000 or something like that.
Industrial solo miners know about this, so I expect them to do as well Cheesy

But you still want to move all the coins because they need to be paid out right? I might be wrong but moving them through a known address is what you would do to prove your mining.

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September 18, 2013, 01:00:53 AM
 #10828

I would rather used a shared wallet.dat with keypoolsize=100000 or something like that.
Industrial solo miners know about this, so I expect them to do as well Cheesy

But you still want to move all the coins because they need to be paid out right? I might be wrong but moving them through a known address is what you would do to prove your mining.

Correct, as long as the coins come from generated inputs, they can safely be fanned out to shareholder addresses (BTC-TC I guess) once the mined blocks have matured, while still allowing transparency on the fact that the funds come from mining and not from other sources.
VolanicEruptor
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September 18, 2013, 01:02:09 AM
 #10829

Guys, it's official, I want back in!

Code:
Received Bid Order: 100000 @ 0.0001 BTC

Placed Purchase Order #2742476: 100000 @ 0.0001 BTC.

The labcoin team would have to be arrested for it to go that low  Cheesy who knows, good luck! 

drawingthesun
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September 18, 2013, 01:03:57 AM
 #10830

Correct, as long as the coins come from generated inputs, they can safely be fanned out to shareholder addresses (BTC-TC I guess) once the mined blocks have matured, while still allowing transparency on the fact that the funds come from mining and not from other sources.

Thanks. So do you have any idea why they keep delaying, what would you do in this situation?
velacreations
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September 18, 2013, 01:04:12 AM
 #10831

Guys, it's official, I want back in!

Code:
Received Bid Order: 100000 @ 0.0001 BTC

Placed Purchase Order #2742476: 100000 @ 0.0001 BTC.

be careful what you wish for, you might just get it!

matt4054
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September 18, 2013, 01:11:08 AM
 #10832

Correct, as long as the coins come from generated inputs, they can safely be fanned out to shareholder addresses (BTC-TC I guess) once the mined blocks have matured, while still allowing transparency on the fact that the funds come from mining and not from other sources.

Thanks. So do you have any idea why they keep delaying, what would you do in this situation?

I don't know why they keep the mining address secret, if they are already hashing, that means they are not yet willing to expose the real situation for about 19 more hours. This is puzzling to say the least: what could possibly happen in 19 hours that make it possible to expose the situation, when it seems impossible now?

Do they think playing the game of words (before vs no later than, etc) is funny or beneficial to the market price? Their PR is full of non-sense and I've already asked numerous questions that always were ignored by the LC team (last question was clarification on generated blocks, no answer).
Vigil
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September 18, 2013, 01:14:41 AM
 #10833

Correct, as long as the coins come from generated inputs, they can safely be fanned out to shareholder addresses (BTC-TC I guess) once the mined blocks have matured, while still allowing transparency on the fact that the funds come from mining and not from other sources.

Thanks. So do you have any idea why they keep delaying, what would you do in this situation?

I don't know why they keep the mining address secret, if they are already hashing, that means they are not yet willing to expose the real situation for about 19 more hours. This is puzzling to say the least: what could possibly happen in 19 hours that make it possible to expose the situation, when it seems impossible now?

Do they think playing the game of words (before vs no later than, etc) is funny or beneficial to the market price? They're PR is full of non-sense and I've already asked numerous questions that always were ignored by the LC team (last question was clarification on generated blocks, no answer).
Sorry, but I feel like I need to do this: *Their*. "They're" means "they are". Its not just you, I see this all day long on these forums.
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September 18, 2013, 01:18:25 AM
 #10834

Sorry, but I feel like I need to do this: *Their*. "They're" means "they are". Its not just you, I see this all day long on these forums.

Corrected, TY. As a non-native speaker, these kind of phonetic mistakes are rare from me, probably means I've spent too much time here Wink

By the way, "It's just not you" vs "Its just not you"... LOL
creativex
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September 18, 2013, 01:30:28 AM
 #10835

Do they think playing the game of words (before vs no later than, etc) is funny or beneficial to the market price? Their PR is full of non-sense and I've already asked numerous questions that always were ignored by the LC team (last question was clarification on generated blocks, no answer).

Management has been playing word games for months. They're clearly stalling and are unwilling to level with shareholders.

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September 18, 2013, 01:43:42 AM
 #10836

Even they post the address and stats, I don't expect a very good result. Otherwise, labcoin will not keep saying 'in one month'. They are betting on their second batch and the new team to whom they outsourced the deploying.
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September 18, 2013, 01:45:02 AM
 #10837

Not sure whats taking the market so long to tank this stock right now, the announcement tomorrow is probably going to be horrendous or else they would have released it today.
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September 18, 2013, 01:47:09 AM
 #10838

Not sure whats taking the market so long to tank this stock right now, the announcement tomorrow is probably going to be horrendous or else they would have released it today.

Why are they buying time ?

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Bitcycle
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September 18, 2013, 01:49:16 AM
 #10839

Not sure whats taking the market so long to tank this stock right now, the announcement tomorrow is probably going to be horrendous or else they would have released it today.

I tend to agree.  20 hours can't make any meaningful difference.

And they keep talking about the end of October to make a decision.  Simple fact is that no one is going to wait that long.

But I just can't bring myself to dump.  I want to, but I can't.

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September 18, 2013, 01:50:44 AM
 #10840

Not sure whats taking the market so long to tank this stock right now, the announcement tomorrow is probably going to be horrendous or else they would have released it today.

I tend to agree.  20 hours can't make any meaningful difference.

And they keep talking about the end of October to make a decision.  Simple fact is that no one is going to wait that long.

But I just can't bring myself to dump.  I want to, but I can't.



Too much love, not enough facts.

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