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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
powpow
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September 18, 2013, 08:32:13 PM
 #11381

I conducted an analysis of the posted mining address.  I concluded that the address does not contain any bitcoins either from solo mining or deposits from known pools. 
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TsuyokuNaritai
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September 18, 2013, 08:32:26 PM
 #11382

someone hire a russian guy on the deepweb to take care of these idiots please...

As perfectly fine as I am with people being upset about the delays in both roll-out and communication I would like to mention that it's pretty damn bad taste to even joke about something like this. Period.

+1. Let's not go there.

They haven't actually stolen, they're just awful at certain things.

velacreations
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September 18, 2013, 08:32:27 PM
 #11383

Labcoin isn't a scam.
They may not be a scam, but they are incompetent and liars.  Which is barely above scam, really.

Without mining, this security is not worth more than the IPO price.  It is currently severely overvalued.

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September 18, 2013, 08:32:34 PM
 #11384

I don't understand. Are they allegedly solo mining or pool mining?


It's not clearly stated but I think that:

while the hashrate is low (<15TH/s) it's useless to go solo, so they will join a pool

when the whole 50TH have been deployed (and if that is not a too small part of the network at that time) they will go solo

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September 18, 2013, 08:32:56 PM
 #11385

If this is the first time you've dealt with an engineer who tried to cover up that he's behind...

Well, it's the first time you've dealt with an engineer.

Haha, true!

Shit happens...

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September 18, 2013, 08:33:12 PM
 #11386

How come this isnt crashing yet?

0.0027 to 0.0021 not crashing? lol


Keep watching for round two in a few mins.

I thought there would be another crash to near IPO like the other crash haha
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September 18, 2013, 08:33:37 PM
 #11387

As perfectly fine as I am with people being upset about the delays in both roll-out and communication I would like to mention that it's pretty damn bad taste to even joke about something like this. Period.
No!
You don't get to tell people their remarks are in bad taste when you have literally been misleading us for at least a week.

Pretty sure I do. Considering I simply report what the team relays to me as information, I would consider it perfectly within my right to think that thinly veiled personal threats are in bad taste.
TMAN
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September 18, 2013, 08:34:18 PM
 #11388

Labcoin isn't a scam. When things calm down I will post TheSeven's reply to my PM.

Would you pm it?

#FREETMAN
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September 18, 2013, 08:34:49 PM
 #11389

As perfectly fine as I am with people being upset about the delays in both roll-out and communication I would like to mention that it's pretty damn bad taste to even joke about something like this. Period.
No!
You don't get to tell people their remarks are in bad taste when you have literally been misleading us for at least a week.

Pretty sure I do. Considering I simply report what the team relays to me as information, I would consider it perfectly within my right to think that thinly veiled personal threats are in bad taste.

lol, you the man

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September 18, 2013, 08:35:19 PM
 #11390

someone hire a russian guy on the deepweb to take care of these idiots please...

As perfectly fine as I am with people being upset about the delays in both roll-out and communication I would like to mention that it's pretty damn bad taste to even joke about something like this. Period.

+1. Let's not go there.

They haven't actually stolen, they're just awful at certain things.

Well i couldnt care less if someone broke his finger so he cant spam more lies on these forums...
It's not my intention to do this i just hope he will soon activate his brain and turn into some kind of honest person.

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tucenaber
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September 18, 2013, 08:35:27 PM
 #11391

I don't understand. Are they allegedly solo mining or pool mining?

This is fuzzy:


They are going to mine on a pool. How hard is that to understand? The revenue will end up in the specified address. But not as freshly minted coins of course since whole blocks only goes to solo miners.
FloatesMcgoates
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September 18, 2013, 08:35:39 PM
 #11392

I would urge everyone that wishes for BTC-TC to continue operating head over to the main BTC-TC thread and push for burnside to take some executive action regarding labcoin. Forget if labcoin is a scam or not a scam or whatever, instead focus on the reality that the actions that labcoin has undertaken so far is a HUGE red blimp that can easily bring the Securities and Exchange Commission running to investigate. Such an action would probably cripple BTC-TC.

I really think its time for Burnside to consider taking some action regarding labcoin. The type of scandalous behavior that they are currently exhibiting is exactly the type of activity that will bring regulatory entities such as the SEC down on btc-tc. Labcoin's presence on btct could really jeopardize btct's continued existence.

Is what I have posted in that thread, hopefully others will come and push for the same.
Twilight_Sparkle
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September 18, 2013, 08:36:18 PM
 #11393

As much as I have hated how things have developed and how you guys deal with PR and information. While the negitivity is all over the place, I would like to say thanks for the address. Personally I would like even more transparency and sooner. Even negative news is better than delayed news and no news.

https://bitcointalk.org/index.php?topic=263445.msg3182809#msg3182809

this is you

Well considering I sold all my shares a day or so ago...I disagree.

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powpow
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September 18, 2013, 08:36:44 PM
 #11394

When did this IPO become questionable?  Was it the faked invoices on their website?  The pictures of boards that cannot be made into miners?  Or the posting of an empty mining address?
pedrog
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September 18, 2013, 08:36:55 PM
 #11395

someone hire a russian guy on the deepweb to take care of these idiots please...

As perfectly fine as I am with people being upset about the delays in both roll-out and communication I would like to mention that it's pretty damn bad taste to even joke about something like this. Period.

Yap, all of those deepweb hitmen are nothing but scams to steal coins. Cheesy

redphlegm
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September 18, 2013, 08:37:07 PM
 #11396

As perfectly fine as I am with people being upset about the delays in both roll-out and communication I would like to mention that it's pretty damn bad taste to even joke about something like this. Period.
No!
You don't get to tell people their remarks are in bad taste when you have literally been misleading us for at least a week.

Pretty sure I do. Considering I simply report what the team relays to me as information, I would consider it perfectly within my right to think that thinly veiled personal threats are in bad taste.

I have to say, given the nature of the responses directed at you, you do manage to stay quite grounded and rational. I hope you don't let those who take skepticism too far get to you personally.

Unless it is a scam ... in which case, <insert insult and anger here>.

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Pale Phoenix
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September 18, 2013, 08:37:40 PM
 #11397


no, he seem not to care..the fees are nice boost. burnside knows in fact that they did not even spend IPO money on R&D of 130nm chip

his answer

Quote
So you're upset that we processed a withdrawal for an issuer after an IPO?  That's kind of how it all works.

Or you're upset that they haven't spent it yet?  (take it up with them?)

That is complete bullshit. There's no need to defame 3rd parties in your quest for the FUD of the day award.

https://bitcointalk.org/index.php?topic=125629.msg3179277#msg3179277

theswede75, biggest troll, fucking always winding people up...receives and cash out $120,000  of labcoin shares
these are NOT shares he has brought with own money, he's always poor prior to this

anybody can follow blockchain to see where funds are, should they be concerned about their investment

Yes, I saw the post. It's your interpretation of the meaning that is bullshit.

Stuartuk
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September 18, 2013, 08:37:49 PM
 #11398

Pretty sure I do. Considering I simply report what the team relays to me as information, I would consider it perfectly within my right to think that thinly veiled personal threats are in bad taste.

Dude seriously you better have your bills sorted out because you will get a knock at the door from your local Fraud Squad as soon as the shit hits the fan and you wont see your family or friends for a very long time. Do you know how long a jail sentence you would get for conspiracy in a 5Million dollar fraud? You might even end up in a US prison (if you are in Sweden). Personally I'd rather be dead than spend 20years in a US prison.

velacreations
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September 18, 2013, 08:37:58 PM
 #11399

Pretty sure I do. Considering I simply report what the team relays to me as information, I would consider it perfectly within my right to think that thinly veiled personal threats are in bad taste.
So, misleading us is in good taste, or what?  Lying about hashing?  Is that good taste?  Missing deadlines, breaking promises, lying about progress, etc, is that good taste. 

You can hide behind the "I'm just the mouthpiece" part all you want, but when this thing turns ugly, people will hold you to the same level as Labcoin. "Following orders" is an excuse that never works.

Luckybit
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September 18, 2013, 08:38:04 PM
 #11400

Actually he said they are going to mine in a pool, so you can't see newly generated coins on that address.

I don't understand. Are they allegedly solo mining or pool mining?

This is fuzzy:

... and users will be able to view the mined coins through pool and this address:

https://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trm

I have asked Sam to sign the address so that it can be proven without a doubt that Labcoin is indeed the entity mining.

According to Sam the initial hash rate will be 'a few' TH and will be scaled up in the coming days as more miners come online.

TLDR; Pool mining is being integrated and will be running in the next few hours (less than 12). Address provided above will be used for mining and will be signed as proof. Initial mining will be 'a few' TH and scaled up in the coming days.

They claim they were supposedly solo mining with at least 2TH since 2 weeks ago, so we demanded a "mining address" to see all the newly generated block rewards. So after 2 weeks, finally they post an "address" that has zero bitcoins, now they conveniently switch to pool mining, which makes the "mining address" useless in terms of proof of mining. I bet they don't have a public stat page from the pool neither.

It's possible that they tried to mine and thought they were mining when they made their update and then ran into some issues. Let's be reasonable.
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