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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1042551 times)
ShroomsKit
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September 19, 2013, 12:57:01 AM
 #11661

if someone did it, he is a fucked evil genius

he will be even more of a genius if he does it a second time.

that's what I was thinking about... but I hope labcoin or theswede will open the mouth before the 31 confirmations left

You know they don't give a shit.

Its price is not a very relevant factor in its adoption....
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velacreations
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September 19, 2013, 12:58:46 AM
 #11662

You know they don't give a shit.
I would think that they would want to show us all that they are legit...

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September 19, 2013, 01:02:34 AM
 #11663

You know they don't give a shit.
I would think that they would want to show us all that they are legit...

As I had predicted, labcoin currently has 0 TH of mining power.
+1

I am going to let the mining speak for itself when the pool merge is complete. I would like to note however that even with 5+ TH solo-mining it can easily take 2+ days to find a block due to variance, hence the move to pool-mining.

TsuyokuNaritai
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September 19, 2013, 01:08:21 AM
 #11664

Deprived has been hitting the sauce again which is always good for a chuckle, but guess who his latest target is...

https://bitcointalk.org/index.php?topic=125629.msg3186052#msg3186052

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September 19, 2013, 01:10:26 AM
 #11665

So let me get this right. Someone mined 3 BTC and sent it to the Labcoin wallet to cause a price spike?

Which I bought into.

How dumb am I? What kind a person does this?

Well, someone with some serious hashing power...

3 BTC / 10,000,000 shares is .0000003/share.  We are the new wealthy elite, ladies and gentlemen.

I'm buying the ticket to Bora Bora, retirement here I go!

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September 19, 2013, 01:10:53 AM
 #11666

3 btc "donation" is nothing if you can make 50x more from trading Cheesy

Assuming the villain traded the move and went in at .0021-.0023, he would have gained at the top of .0028 approx. .0005-.0007 per share. To stay profitable or gain more than 3.25, he needs at least 4650-6500 shares. That's not that much and the volume was significantly higher during that timeframe. So ít is absolutely possible, that this was indeed a "clever investment".

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September 19, 2013, 01:16:02 AM
 #11667

So let me get this right. Someone mined 3 BTC and sent it to the Labcoin wallet to cause a price spike?

Which I bought into.

How dumb am I? What kind a person does this?

Well, someone with some serious hashing power...


not really, they can just set their threshold for 3btc+ and hold up payments, and then say " oh look, an opportunity to make 20 btc, and it only costs me 3 btc"

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September 19, 2013, 01:18:35 AM
 #11668

if someone did it, he is a fucked evil genius

Quoted for the lulz. Love the phrasing.

Meanwhile, every announcement seems to take us down another rabbit hole...


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September 19, 2013, 01:21:37 AM
 #11669

I'm a bit drunk but what significance does 3 BTC have here?

If you mine solo and find a block doesn't it still pay 25 BTC plus transactions?  If you mine in a pool then isn't what matters your rate of finding shares/hour?  I can't think of any reason why 3 BTC is relevant to anything - it's 100 GH/S mining for Y*X time or 1 GH/S mining for 100*Y*X time : it's exixtence says nothing about what X or Y is.
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September 19, 2013, 01:24:09 AM
 #11670

I'm a bit drunk but what significance does 3 BTC have here?

If you mine solo and find a block doesn't it still pay 25 BTC plus transactions?  If you mine in a pool then isn't what matters your rate of finding shares/hour?  I can't think of any reason why 3 BTC is relevant to anything - it's 100 GH/S mining for Y*X time or 1 GH/S mining for 100*Y*X time : it's exixtence says nothing about what X or Y is.
A bit drunk?

Please GTFO off bitcointalk, have a couple more drinks and then come back.  Cheesy
VolanicEruptor
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September 19, 2013, 01:24:46 AM
 #11671

I'm a bit drunk but what significance does 3 BTC have here?

If you mine solo and find a block doesn't it still pay 25 BTC plus transactions?  If you mine in a pool then isn't what matters your rate of finding shares/hour?  I can't think of any reason why 3 BTC is relevant to anything - it's 100 GH/S mining for Y*X time or 1 GH/S mining for 100*Y*X time : it's exixtence says nothing about what X or Y is.

when you mine in a pool, you set threshold payments so that after so much work, you will get paid X BTC (in this case, 3).  This is so you don't get 100,000 deposits of 1 satoshi each to your account.  If this 3 BTC payment repeats itself enough times, a hash rate can be calculated based on how long between payments.  That's the idea anyway.

edit: please correct me if wrong here?

Ukyo
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September 19, 2013, 01:28:08 AM
 #11672

I'm a bit drunk but what significance does 3 BTC have here?

If you mine solo and find a block doesn't it still pay 25 BTC plus transactions?  If you mine in a pool then isn't what matters your rate of finding shares/hour?  I can't think of any reason why 3 BTC is relevant to anything - it's 100 GH/S mining for Y*X time or 1 GH/S mining for 100*Y*X time : it's exixtence says nothing about what X or Y is.

Basically when you mine in a shared pool, you get your portion of the block based on how much work you did compared to everyone else to earn it.
In this case, "someone" had mined 3.xxxx BTC worth on Slush and had it sent to LC's now official mining address.

So if it is LC, then they are mining. If not, someone just did it to make them appear to be mining to bank on a price rise.
We will know more as time goes by.

That is where the 3 btc comes from.

-Ukyo

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Ytterbium
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September 19, 2013, 01:29:28 AM
 #11673

I'm a bit drunk but what significance does 3 BTC have here?

If you mine solo and find a block doesn't it still pay 25 BTC plus transactions?  If you mine in a pool then isn't what matters your rate of finding shares/hour?  I can't think of any reason why 3 BTC is relevant to anything - it's 100 GH/S mining for Y*X time or 1 GH/S mining for 100*Y*X time : it's exixtence says nothing about what X or Y is.

It's just their first payment.  The next one should come in when Slush gets 100 confirmations on it's next block:

http://mining.bitcoin.cz/stats/

Unless they stopped mining or the reward is less then their threshold, or if someone was trolling us by pointing their slush account at that address.

superduh
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September 19, 2013, 01:33:00 AM
 #11674

slush allows you to hold 5btc max so payouts would have to be frequent if labcoin is mining there

ok
BitThink
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September 19, 2013, 01:35:36 AM
 #11675

I thought I was good at understanding people's behaviour before, but now I am totally lost. What is labcoin doing now?

If they are mining in a pool, is the name of the pool top secret? Is the hashing rate top secret, or they don't have any idea about their own hashing rate themselves? If they want the public to monitor their hashing rate, why not choose a pool showing hashing rate? If the 3 BTC really are mined by them, they should've joined the pool more than 12 hours ago. Why they wait until the panic selling happened to announce the address?

All these things are beyond my understanding. Only one word is left in my mind: unbelievable.
Duffer1
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September 19, 2013, 01:36:26 AM
 #11676

if someone did it, he is a fucked evil genius

Quoted for the lulz. Love the phrasing.

Meanwhile, every announcement seems DESIGNED to take us down another rabbit hole...

FTFY
BitThink
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September 19, 2013, 01:42:37 AM
 #11677

May I know what do the first 3 transactions mean? There's a 0.0062166 and two 0.001 BTC went to the LC mining address. Thanks.
Pale Phoenix
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September 19, 2013, 01:44:01 AM
 #11678

if someone did it, he is a fucked evil genius

Quoted for the lulz. Love the phrasing.

Meanwhile, every announcement seems DESIGNED to take us down another rabbit hole...

FTFY

Yeah, one does get the uneasy feeling that someone, somewhere is pulling the strings and laughing his bloody ass off.

pedrog
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September 19, 2013, 01:46:29 AM
 #11679

May I know what do the first 3 transactions mean? There's a 0.0062166 and two 0.001 BTC went to the LC mining address. Thanks.

Those might actually be attempts to manipulate share price, very poorly attempts..

Ytterbium
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September 19, 2013, 01:47:09 AM
 #11680

I thought I was good at understanding people's behaviour before, but now I am totally lost. What is labcoin doing now?

If they are mining in a pool, is the name of the pool top secret? Is the hashing rate top secret, or they don't have any idea about their own hashing rate themselves? If they want the public to monitor their hashing rate, why not choose a pool showing hashing rate? If the 3 BTC really are mined by them, they should've joined the pool more than 12 hours ago. Why they wait until the panic selling happened to announce the address?

All these things are beyond my understanding. Only one word is left in my mind: unbelievable.

Probably because they're sick of all the haters. Here's what TheSwede said:

I am going to let the mining speak for itself when the pool merge is complete. I would like to note however that even with 5+ TH solo-mining it can easily take 2+ days to find a block due to variance, hence the move to pool-mining.

Which would imply they no longer have anything they feel they need to prove, and can rely on the blockchain to communicate for them. That will really be the case when we see another 24 blocks come in and slush sends it's next tx, unless they switched pools, stopped mining, or made less then their threshold.

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