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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1040116 times)
dhenson
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September 18, 2013, 02:13:49 AM
 #10841

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 ?

Once they post the address we will be able to see exactly when any blocks were mined (if any). It really doesn't make sense to stall.

Please post a picture of 'hashing' rigs and the public address.
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dhenson
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September 18, 2013, 02:18:48 AM
 #10842

I suspect they won't post the mining address; just a wallet address that they'll say their mining income goes into.

I suspect neither TheSwede75 nor Labcoin have direct access to the operation.

Any funds transferred to their public address can be traced back to the block they were mined.  That solves nothing.
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September 18, 2013, 02:18:52 AM
 #10843

I suspect they won't post the mining address; just a wallet address that they'll say their mining income goes into.
Yea, that's really possible.
They will just do it wrong in every possible way. (as usual)
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September 18, 2013, 02:27:21 AM
 #10844

I suspect they won't post the mining address; just a wallet address that they'll say their mining income goes into.
Yea, that's really possible.
They will just do it wrong in every possible way. (as usual)

If this is true, this will be...

▄██████████████████████████████████████████████████████████████████▀███▀███▄
████████████████████████████████████████████████████████████████████▄▀▄█████
███████████████████████████████████████████████████████████████████▀▄█▄▀████

███▀▀▀▀▀▀▀▀██████▀▀▀████████▀▀▀██▀▀▀███████████▀▀▀██▀▀▀▀▀▀▀▀████████▀▀▀█████
███          ▀███   ████████   ██    ▀█████████   ██           ▀████   █████
███   █████▄   ██   ████████   ██      ▀███████   ██   ██████▄   ███   █████
███   ██████   ██   ████████   ██   █▄   ▀█████   ██   ████████   ██   █████
███   █████▀   ██   ████████   ██   ███▄   ▀███   ██   ████████   ██   █████
███          ▄███   ▀██████▀   ██   █████▄   ▀█   ██   ███████▀   ██   █████
███   ▄▄▄▄▄███████   ▀▀▀▀▀▀   ███   ███████▄      ██   ▀▀▀▀▀▀   ▄███   █████
███   █████████████▄        ▄████   █████████▄    ██        ▄▄▄█████   █████
████████████████████████████████████████████████████████████████████████████
▀██████████████████████████████████████████████████████████████████████████▀
  BUY
  SELL
ACCEPT
   ███████████████████████████
  .CRYPTOCURRENCY..
███████████████████████████
.
Vigil
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September 18, 2013, 02:35:38 AM
 #10845

One of these times they are going to do something right.
Bitcycle
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September 18, 2013, 02:42:28 AM
 #10846




Bitcycle
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September 18, 2013, 02:48:05 AM
 #10847

We will show everyone this operation is very serious within about one month from now.


This is the part that keeps worrying me. 
Mabsark
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September 18, 2013, 02:52:45 AM
 #10848

We will show everyone this operation is very serious within about one month from now.


This is the part that keeps worrying me. 

Anyone with an attention span greater than a gold fish knows what he's talking about. 50 Th/s coming online in October. Why does that worry you?
drawingthesun
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September 18, 2013, 02:53:52 AM
 #10849

We will show everyone this operation is very serious within about one month from now.


This is the part that keeps worrying me.  

Be careful criticising Labcoin, you will be ignored by all the worshippers followers shareholders here.
BitCsByBit
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September 18, 2013, 02:55:52 AM
 #10850

Even friedcat, who set the standards in Bitcoin mining, has recently experienced a few weeks delay on ASICMINER's new blades!
So I'm not surprised that Labcoin needed extra time to tweak everything. Despite everyone's best efforts unplanned issues can occur.

The short term share price fluctuations due to FUDsters trying to pump and dump does not concern me, as I'm in it for the long run. Only about 20% of public shares were traded during the recent "crisis".

This official update was posted only 4 days ago, and it has been buried with 135 pages of FUD!!!



UPDATE:

The Labcoin team is current tweaking boards and preparing for prodution
roll out of mining operation
. Public mining address/Pool name will
be released as soon as the mining operation reaches a stable hash rate.

We are aware a lot of people are waiting for a address or pool name
where they can follow the hash rate and this is a priority, however
Labcoin also does not want the same kind of 'hysteria' that surrounds
ASICMINER every time pool rate drops or increases.

Once the miners have been deemed '100%' and can reliably mine 24/7 hash
rate will be made public
and a new website will be launched where
shareholders can follow the growth in hash rate.

The 130 nm Chips run at approx 1.8 GH/s and the boards are still being
tweaked and tested so that once full production roll out starts
(approx 1-2 weeks)
they will mine reliably 24/7

Labcoin has already ordered and will take delivery of OVER 100,000 chips
with accompanying boards and controllers for miner production and
rollout through the month of October.

Within 20 days (early Oct) approx 20TH will be online. Hash rate will
then progressively reach over 50TH of mining power during the month
of October as miners are brought online.

The mining operation will then be scaled up as miners are deployed and
will reach and pass 100TH+ in November to reach 500TH during the
month of December.


Other news:

Gen 2 65nm development is on track. Due to the fast increase in network
diff Labcoin will likely not sell or
ship volume 130nm orders but rather work towards quick tape out and
first run of 65 nm for bulk customer orders and consumer miners.

The 130 nm chips are still highly profitable for mining in datacenter in
China due to the short lead time and availabilty of resources etc.

Labcoin sees no reason to risk shipping chips at this point when the
team can just build miners on-site in China and reach very high
revenue mining with the chips instead of selling them to end users.


TLDR; Miners are being tweaked and tested still and deployment of
'significant' hash rate will be happening in the next two weeks, to reach
approx 20TH within 20 days. During October 50TH+ will be rolled out, to
reach 100TH+ in November and 500TH during the month of December.
65 nm is on track.


I will also post pictures of board and chips in about 2minutes.

Edit: here are chips and boards.http://imgur.com/4yuBc9A

To clarify. Hash goal for Dec is 500th+ and that is from chips that are already ordered using IPO funds. Short term goal is 20 TH within 20 days, 50TH in Oct and 100+ in November. We consider it likely that we surpass both Oct and November goals.

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
KCBitcoin
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September 18, 2013, 02:59:13 AM
 #10851

Even friedcat, who set the standards in Bitcoin mining, has recently experienced a few weeks delay on ASICMINER's new blades!
So I'm not surprised that Labcoin needed extra time to tweak everything. Despite everyone's best efforts unplanned issues can occur.

The short term share price fluctuations due to FUDsters trying to pump and dump does not concern me, as I'm in it for the long run. Only about 20% of public shares were traded during the recent "crisis".

This official update was posted only 4 days ago, and it has been buried with 135 pages of FUD!!!

LOL.....
redbeans2012
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September 18, 2013, 03:00:08 AM
 #10852

Labcoin will get it right.  I think they are just embarrassed to say they had some setbacks.  I'm patient.  Most here are spoiled and want to double or triple their investment in a months time.  Almost every ASIC developer has run into problems along the way.
BitCsByBit
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September 18, 2013, 03:00:43 AM
 #10853

Labcoin will get it right.  I think they are just embarrassed to say they had some setbacks.  I'm patient.  Most here are spoiled and want to double or triple their investment in a months time.  Almost every ASIC developer has run into problems along the way.

^^^ This!

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
Bitcycle
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September 18, 2013, 03:00:53 AM
 #10854

We will show everyone this operation is very serious within about one month from now.


This is the part that keeps worrying me. 

Anyone with an attention span greater than a gold fish knows what he's talking about. 50 Th/s coming online in October. Why does that worry you?

Because I'm waiting an extra 20 hours for the simplest of updates.  That suggests to me that everything may not go according to their schedules.

Actually, nothing whatsoever has gone according to their schedule.  

Things they said would happen in 2 days did not. So I'm skeptical about something that's supposed to happen six weeks from now.
BitCsByBit
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September 18, 2013, 03:02:56 AM
 #10855

We will show everyone this operation is very serious within about one month from now.


This is the part that keeps worrying me. 

Anyone with an attention span greater than a gold fish knows what he's talking about. 50 Th/s coming online in October. Why does that worry you?

Because I'm waiting an extra 20 hours for the simplest of updates.  That suggests to me that everything may not go according to their schedules.

Actually, nothing whatsoever has gone according to their schedule.  

Things they said would happen in 2 days did not. So I'm skeptical about something that's supposed to happen six weeks from now.

Stop worrying about the short term schedule...look at the big picture.

Labcoin is in a driving seat to deliver big even if they experience a few setbacks.

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
Vigil
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September 18, 2013, 03:08:08 AM
 #10856

We will show everyone this operation is very serious within about one month from now.


This is the part that keeps worrying me. 

Anyone with an attention span greater than a gold fish knows what he's talking about. 50 Th/s coming online in October. Why does that worry you?

Because I'm waiting an extra 20 hours for the simplest of updates.  That suggests to me that everything may not go according to their schedules.

Actually, nothing whatsoever has gone according to their schedule.  

Things they said would happen in 2 days did not. So I'm skeptical about something that's supposed to happen six weeks from now.

Stop worrying about the short term schedule...look at the big picture.

Labcoin is in a driving seat to deliver big even if they experience a few setbacks.

This is true.
Mabsark
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September 18, 2013, 03:14:02 AM
 #10857

We will show everyone this operation is very serious within about one month from now.


This is the part that keeps worrying me. 

Anyone with an attention span greater than a gold fish knows what he's talking about. 50 Th/s coming online in October. Why does that worry you?

Because I'm waiting an extra 20 hours for the simplest of updates.  That suggests to me that everything may not go according to their schedules.

Actually, nothing whatsoever has gone according to their schedule.  

Things they said would happen in 2 days did not. So I'm skeptical about something that's supposed to happen six weeks from now.

They said they would get their chips on the 28th of August and they claimed they did. Why do you think they won't get more chips when they say they will? That shipping schedule is down to TSMC.  
BitThink
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September 18, 2013, 03:36:50 AM
 #10858

We will show everyone this operation is very serious within about one month from now.


This is the part that keeps worrying me. 

Anyone with an attention span greater than a gold fish knows what he's talking about. 50 Th/s coming online in October. Why does that worry you?

Because I'm waiting an extra 20 hours for the simplest of updates.  That suggests to me that everything may not go according to their schedules.

Actually, nothing whatsoever has gone according to their schedule.  

Things they said would happen in 2 days did not. So I'm skeptical about something that's supposed to happen six weeks from now.

They said they would get their chips on the 28th of August and they claimed they did. Why do you think they won't get more chips when they say they will? That shipping schedule is down to TSMC.  
It's not about the chip arriving date. It's about their ability to deploy the hashing power and how upfront they communicate with the investors.
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September 18, 2013, 03:40:07 AM
 #10859

It's not about the chip arriving date. It's about their ability to deploy the hashing power and how upfront they communicate with the investors.

I think management has made it pretty clear how they'll communicate with investors.

BitThink
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September 18, 2013, 04:03:47 AM
 #10860

Since AM is always the one we wish Labcoin could be. Let's look how friedcat did before in the early stage of AM.
1) When chips arrived (28 Dec)
https://bitcointalk.org/index.php?topic=91173.msg1422891#msg1422891
2) passed the tests (3 Jan)
https://bitcointalk.org/index.php?topic=99497.msg1431982#msg1431982
3) send to assmbly (10 Jan)
https://bitcointalk.org/index.php?topic=99497.msg1445339#msg1445339
4) workshop ready and mass order finished (17 Jan) https://bitcointalk.org/index.php?topic=99497.msg1459790#msg1459790
5) Especially this Admit there are 2 weeks delay due to assmbly and > 2 months delay compared with IPO plan. Moreover, he clearly explained why the delay was caused and apologized. He also answered many important questions. (24 Jan)
https://bitcointalk.org/index.php?topic=99497.msg1475857#msg1475857
6) show QC boards (1 Feb) (Let's compare with what LC has shown us)
https://bitcointalk.org/index.php?topic=99497.msg1493791#msg1493791
7) Photos of deploying (7 Feb) (again, what has LC shown?)
https://bitcointalk.org/index.php?topic=99497.msg1510110#msg1510110

So how can people always think we can expect the share price to be comparable with AM?
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