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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1057960 times)
creativex
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September 18, 2013, 02:41:31 PM
 #10961

My guess is the 130nm chips didn't pass testing and are faulty. That would explain the full month setback.

I suspect that might be the case as it would explain their creepy behavior. If it is and management is going through all these contortions to hide this fact then there's no reason to hold shares. Their 65nm chips are still a ways off and management has already demonstrated a disturbing lack of transparency.

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Bitcycle
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September 18, 2013, 02:42:32 PM
 #10962

So seriously, what's going to be different 5.5 hours from now
the share price will be considerably lower...

When will the dumping start?  We've got to be getting close to the time that the nervous start their panic...

Also, that wall at 0.003 seems to be the dumbest guy ever.  If it's going up, it's going a lot higher than that.  Why give money away?




velacreations
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September 18, 2013, 02:56:54 PM
 #10963

Also, that wall at 0.003 seems to be the dumbest guy ever.  If it's going up, it's going a lot higher than that.  Why give money away?
what makes you think it is going up?

dexX7
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September 18, 2013, 02:58:23 PM
 #10964

Semi-/Inofficial Labcoin news:

I have talked to TheSeven the second time now. For the reference, TheSeven is a PPCoin pool operator and a contributer to the The Open Source FPGA Bitcoin Miner project. According to Labcoin, he is a generalist software developer, touched most layers from electronics to web development with a background on low level software (down to the hardware interface, bare-metal software, operating systems, kernel, etc.) and working mostly on the 65 nm generation. His website is fpgamining.com where he offers to design and sell custom FPGA based hardware. He acts as technical consultant and basically as HDL engineer for the second generation.

I'm really no fan of posting private messages, but he stated it's a standard response from now on, thus I feel comfortable with posting it here:

Hi,

please excuse that due to the high number of messages, I'm responding with a standard reply to anything Labcoin related right now.

First of all, Labcoin is not "my" project in any way. They have hired me as an external consultant on bitcoin-related aspects, and also accepted some of my proposals on the actual chip implementation. However these proposals are for their second generation chips, and I'm not involved with their first generation hardware at all, except for giving them some general advice on how things can be optimized.

I'm currently working on part of their second generation chip implementation, but haven't been in touch with the engineers that handle the first generation chips since quite a while. I also have no insight at all into their business plans or anything related.

From what they claim right now, they do have first generation chips, which seem to be somewhat working, but showing some issues, which they are working on. I do not have more detailed information on what exactly these issues are yet, however I might be able to look into that next week.

From my point of view there are zero signs of a scamming plan (if it would be one, it would be an extremely elaborate one). However, as with any ASIC project, there is a lot of risks, and it's much too early to tell if this project will be successful in the end.
Please note that I don't have access to any physical hardware from them (yet), so I cannot verify if they actually have the chips that they are claiming to have. I have no reason to belive the contrary though.

Please understand that I can't give you more detailed information right now.

All the best,

TheSeven


San1ty
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September 18, 2013, 02:58:26 PM
 #10965

Also, that wall at 0.003 seems to be the dumbest guy ever.  If it's going up, it's going a lot higher than that.  Why give money away?
what makes you think it is going up?

This ^! They better have some extremely legit news or it's going allll the way down to IPO.

Found my posts helpful? Consider buying me a beer :-)!:
BTC - 1San1tyUGhfWRNPYBF4b6Vaurq5SjFYWk NXT - 17063113680221230777
Bitcycle
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September 18, 2013, 03:00:05 PM
 #10966

Also, that wall at 0.003 seems to be the dumbest guy ever.  If it's going up, it's going a lot higher than that.  Why give money away?
what makes you think it is going up?

It might, it might not.

But if it does, it's going a lot higher than 0.003.

No way I'd have an open ask any lower than 0.005, at the very lowest.

At the same time, I wouldn't have a bid above 0.0012.


AngelSky
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September 18, 2013, 03:04:32 PM
 #10967

Semi-/Inofficial Labcoin news:

I have talked to TheSeven the second time now. For the reference, TheSeven is a PPCoin pool operator and a contributer to the The Open Source FPGA Bitcoin Miner project. According to Labcoin, he is a generalist software developer, touched most layers from electronics to web development with a background on low level software (down to the hardware interface, bare-metal software, operating systems, kernel, etc.) and working mostly on the 65 nm generation. His website is fpgamining.com where he offers to design and sell custom FPGA based hardware. He acts as technical consultant and basically as HDL engineer for the second generation.

I'm really no fan of posting private messages, but he stated it's a standard response from now on, thus I feel comfortable with posting it here:

Hi,

please excuse that due to the high number of messages, I'm responding with a standard reply to anything Labcoin related right now.

First of all, Labcoin is not "my" project in any way. They have hired me as an external consultant on bitcoin-related aspects, and also accepted some of my proposals on the actual chip implementation. However these proposals are for their second generation chips, and I'm not involved with their first generation hardware at all, except for giving them some general advice on how things can be optimized.

I'm currently working on part of their second generation chip implementation, but haven't been in touch with the engineers that handle the first generation chips since quite a while. I also have no insight at all into their business plans or anything related.

From what they claim right now, they do have first generation chips, which seem to be somewhat working, but showing some issues, which they are working on. I do not have more detailed information on what exactly these issues are yet, however I might be able to look into that next week.

From my point of view there are zero signs of a scamming plan (if it would be one, it would be an extremely elaborate one). However, as with any ASIC project, there is a lot of risks, and it's much too early to tell if this project will be successful in the end.
Please note that I don't have access to any physical hardware from them (yet), so I cannot verify if they actually have the chips that they are claiming to have. I have no reason to belive the contrary though.

Please understand that I can't give you more detailed information right now.

All the best,

TheSeven



Interesting, thanks.

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circuitry
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September 18, 2013, 03:04:42 PM
 #10968

Also, that wall at 0.003 seems to be the dumbest guy ever.  If it's going up, it's going a lot higher than that.  Why give money away?
what makes you think it is going up?

Whether it goes down or not, this thread is proof that people are happy to cope with an astounding crapload of bullshit before acting as if they cared.

Even if Labcoin turns out to be a legitimate project, the milestone they have set is an excellent crash course for future scammers on how to abuse the Bitcoin community with little or no consequences.
demzie
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September 18, 2013, 03:05:15 PM
 #10969

Theseven on next gen confirmed? Great news!
ShroomsKit
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September 18, 2013, 03:05:22 PM
 #10970

Are they really gonna wait till the very last minute to post an address?
Why?

Its price is not a very relevant factor in its adoption....
VolanicEruptor
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September 18, 2013, 03:05:51 PM
 #10971

Theseven on next gen confirmed? Great news!

+9001

limbaugh
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September 18, 2013, 03:06:03 PM
 #10972

Uh oh, bids are gaining strength. Gonna be tough to get in soon.
Bitcycle
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September 18, 2013, 03:06:48 PM
 #10973

Uh oh, bids are gaining strength. Gonna be tough to get in soon.

Great time to dump if you'e doubtful.

creativex
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September 18, 2013, 03:13:13 PM
 #10974

Semi-/Inofficial Labcoin news:

I have talked to TheSeven the second time now. For the reference, TheSeven is a PPCoin pool operator and a contributer to the The Open Source FPGA Bitcoin Miner project. According to Labcoin, he is a generalist software developer, touched most layers from electronics to web development with a background on low level software (down to the hardware interface, bare-metal software, operating systems, kernel, etc.) and working mostly on the 65 nm generation. His website is fpgamining.com where he offers to design and sell custom FPGA based hardware. He acts as technical consultant and basically as HDL engineer for the second generation.

I'm really no fan of posting private messages, but he stated it's a standard response from now on, thus I feel comfortable with posting it here:

Hi,

please excuse that due to the high number of messages, I'm responding with a standard reply to anything Labcoin related right now.

First of all, Labcoin is not "my" project in any way. They have hired me as an external consultant on bitcoin-related aspects, and also accepted some of my proposals on the actual chip implementation. However these proposals are for their second generation chips, and I'm not involved with their first generation hardware at all, except for giving them some general advice on how things can be optimized.

I'm currently working on part of their second generation chip implementation, but haven't been in touch with the engineers that handle the first generation chips since quite a while. I also have no insight at all into their business plans or anything related.

From what they claim right now, they do have first generation chips, which seem to be somewhat working, but showing some issues, which they are working on. I do not have more detailed information on what exactly these issues are yet, however I might be able to look into that next week.

From my point of view there are zero signs of a scamming plan (if it would be one, it would be an extremely elaborate one). However, as with any ASIC project, there is a lot of risks, and it's much too early to tell if this project will be successful in the end.
Please note that I don't have access to any physical hardware from them (yet), so I cannot verify if they actually have the chips that they are claiming to have. I have no reason to belive the contrary though.

Please understand that I can't give you more detailed information right now.

All the best,

TheSeven

Thanks dexX7, these comments from TheSeven are consistent with the brief interview I quoted way back on this fast moving thread.

Cheers.

lzr1900
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September 18, 2013, 03:13:58 PM
 #10975

Semi-/Inofficial Labcoin news:

I have talked to TheSeven the second time now. For the reference, TheSeven is a PPCoin pool operator and a contributer to the The Open Source FPGA Bitcoin Miner project. According to Labcoin, he is a generalist software developer, touched most layers from electronics to web development with a background on low level software (down to the hardware interface, bare-metal software, operating systems, kernel, etc.) and working mostly on the 65 nm generation. His website is fpgamining.com where he offers to design and sell custom FPGA based hardware. He acts as technical consultant and basically as HDL engineer for the second generation.

I'm really no fan of posting private messages, but he stated it's a standard response from now on, thus I feel comfortable with posting it here:

Hi,

please excuse that due to the high number of messages, I'm responding with a standard reply to anything Labcoin related right now.

First of all, Labcoin is not "my" project in any way. They have hired me as an external consultant on bitcoin-related aspects, and also accepted some of my proposals on the actual chip implementation. However these proposals are for their second generation chips, and I'm not involved with their first generation hardware at all, except for giving them some general advice on how things can be optimized.

I'm currently working on part of their second generation chip implementation, but haven't been in touch with the engineers that handle the first generation chips since quite a while. I also have no insight at all into their business plans or anything related.

From what they claim right now, they do have first generation chips, which seem to be somewhat working, but showing some issues, which they are working on. I do not have more detailed information on what exactly these issues are yet, however I might be able to look into that next week.

From my point of view there are zero signs of a scamming plan (if it would be one, it would be an extremely elaborate one). However, as with any ASIC project, there is a lot of risks, and it's much too early to tell if this project will be successful in the end.
Please note that I don't have access to any physical hardware from them (yet), so I cannot verify if they actually have the chips that they are claiming to have. I have no reason to belive the contrary though.

Please understand that I can't give you more detailed information right now.

All the best,

TheSeven




Great!Good to see TheSeven is actually involved in this project..
limbaugh
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September 18, 2013, 03:18:24 PM
 #10976

Semi-/Inofficial Labcoin news:



From my point of view there are zero signs of a scamming plan (if it would be one, it would be an extremely elaborate one). However, as with any ASIC project, there is a lot of risks, and it's much too early to tell if this project will be successful in the end.
Please note that I don't have access to any physical hardware from them (yet), so I cannot verify if they actually have the chips that they are claiming to have. I have no reason to belive the contrary though.

Please understand that I can't give you more detailed information right now.

All the best,

TheSeven



Better get busy scam theorists, TheSeven just plugged the hole.

Thanks DexX7!
AngelSky
Hero Member
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September 18, 2013, 03:19:59 PM
 #10977

Well, this is going to be interesting.

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drawingthesun
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September 18, 2013, 03:20:09 PM
 #10978

2 minutes from 0.003

This is a great time to be alive!
Bitcycle
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September 18, 2013, 03:20:35 PM
 #10979

Most interesting parts highlighted.

More or less confirming what most of us have guessed.



Hi,

please excuse that due to the high number of messages, I'm responding with a standard reply to anything Labcoin related right now.

First of all, Labcoin is not "my" project in any way. They have hired me as an external consultant on bitcoin-related aspects, and also accepted some of my proposals on the actual chip implementation. However these proposals are for their second generation chips, and I'm not involved with their first generation hardware at all, except for giving them some general advice on how things can be optimized.

I'm currently working on part of their second generation chip implementation, but haven't been in touch with the engineers that handle the first generation chips since quite a while. I also have no insight at all into their business plans or anything related.

From what they claim right now, they do have first generation chips, which seem to be somewhat working, but showing some issues, which they are working on. I do not have more detailed information on what exactly these issues are yet, however I might be able to look into that next week.

From my point of view there are zero signs of a scamming plan (if it would be one, it would be an extremely elaborate one). However, as with any ASIC project, there is a lot of risks, and it's much too early to tell if this project will be successful in the end.
Please note that I don't have access to any physical hardware from them (yet), so I cannot verify if they actually have the chips that they are claiming to have. I have no reason to belive the contrary though.

Please understand that I can't give you more detailed information right now.

All the best,

TheSeven

Pale Phoenix
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September 18, 2013, 03:20:42 PM
 #10980

Thanks dexX7 for the useful post.

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