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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1042344 times)
runam0k
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September 19, 2013, 01:34:20 PM
 #11921

The good news is they certainly seem to be able to hash sometimes, at some level.
What's the market cap of this company again?
There are several different types of Bitcoin clients. Header-only clients like MultiBit trust that the majority of mining power is honest for the purposes of enforcing network rules such as the 21 million BTC limit. Full clients do not trust miners in this way.
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cix888
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September 19, 2013, 01:37:13 PM
 #11922


The good news is they certainly seem to be able to hash sometimes, at some level.



They had a software issue so it was unstable but it's been resolved.

seems they are hashing with more than 2TH when they change from solo to Pool

so it should/can only get better
Bitcycle
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September 19, 2013, 01:39:09 PM
 #11923


The good news is they certainly seem to be able to hash sometimes, at some level.



They had a software issue so it was unstable but it's been resolved.

seems they are hashing with more than 2TH when they change from solo to Pool

so it should/can only get better

Why are there no payments coming in?
camu6
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September 19, 2013, 01:47:25 PM
 #11924


The good news is they certainly seem to be able to hash sometimes, at some level.



They had a software issue so it was unstable but it's been resolved.

seems they are hashing with more than 2TH when they change from solo to Pool

so it should/can only get better

Why are there no payments coming in?

More difficulties? Another random pool change?

If this is what they meant by:


This is  a very friendly advice; tomorrow the mining address and hashing statistics will be posted for everyone to verify.


They failed again. And if we can interpret "tomorrow" within 24 hours of this post, again.
velacreations
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September 19, 2013, 01:49:13 PM
 #11925

so, what did I miss?  2 da moon or same ol' Labcon?

codegnome
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September 19, 2013, 01:50:04 PM
 #11926


They failed again. And if we can interpret "tomorrow" within 24 hours of this post, again.

But there was an update since that post.

UPDATE:
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.



Ytterbium
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September 19, 2013, 01:51:30 PM
 #11927

Well now. That was an exciting 20 pages. Hope LC post a new picture so I can turn it into my new profile pic.

Amazing Company is going to the Sun!!!!!!

The sun?  It's going to the center of the Galaxy! 

Where there is a black hole, but whatever.

camu6
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September 19, 2013, 01:51:46 PM
 #11928


They failed again. And if we can interpret "tomorrow" within 24 hours of this post, again.

But there was an update since that post.

UPDATE:
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.





But that update completly ignored the promised trackable hashing statistics.
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September 19, 2013, 01:52:03 PM
 #11929

so, what did I miss?  2 da moon or same ol' Labcon?

both, apparently they are mining from 2 different pools, so to da moon. In reality we got nothing for sure and they missed another deadline, so to da floor.
Ytterbium
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September 19, 2013, 01:52:30 PM
 #11930

so, what did I miss?  2 da moon or same ol' Labcon?

As usual with labcoin, everything was completely ambiguous.

codegnome
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September 19, 2013, 01:55:14 PM
 #11931

But that update completely ignored the promised trackable hashing statistics.


I interpret that as a change of strategy from solo to the pool. So tracking could be done from the pool. Hell if I know, why the silence?

MaxSan
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September 19, 2013, 01:57:13 PM
 #11932

The important thing to me is it appears they are making progress.

This is all just gravy now. I think they have purchased some time to avoid the scam patrol berating them until they get more hash power online which is hopefully just a rinse and repeat process for all the chips and PCBs they have.
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September 19, 2013, 02:02:30 PM
 #11933

The important thing to me is it appears they are making progress.

This is all just gravy now. I think they have purchased some time to avoid the scam patrol berating them until they get more hash power online which is hopefully just a rinse and repeat process for all the chips and PCBs they have.

I don't see any progress yet. Imho their biggest flaw is the lack of verifiable information, not to mention the lies they told. Maybe they are hashing, maybe not, but steps towards transparency and reliability have not yet been made
velacreations
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September 19, 2013, 02:03:00 PM
 #11934

The important thing to me is it appears they are making progress.
can you show me the progress?

what I see are very likely trolling attempts by people sending their mined coins to that LC address and the stock rising, and then big sells happening.  I watched it last night with the Slush news, and after the second payment came from slush, the price rose to .03, and someone sold like 15K shares.  If they bought those shares near yesterday's low, they made some good coin on that manipulation.

I just can't bring myself to trust these payments from random pools.  It's too easy for someone to fake to pump up the price.

Bitcycle
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September 19, 2013, 02:04:20 PM
 #11935

The important thing to me is it appears they are making progress.

This is all just gravy now. I think they have purchased some time to avoid the scam patrol berating them until they get more hash power online which is hopefully just a rinse and repeat process for all the chips and PCBs they have.

I don't see any progress yet. Imho their biggest flaw is the lack of verifiable information, not to mention the lies they told. Maybe they are hashing, maybe not, but steps towards transparency and reliability have not yet been made

I hate to say it, but I have to agree.

In the absence of any sort of status update, we don't really know if they've even been in a pool at all.

We'd know if they told us, but they refuse to do so.
Ytterbium
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September 19, 2013, 02:08:21 PM
 #11936

The important thing to me is it appears they are making progress.

This is all just gravy now. I think they have purchased some time to avoid the scam patrol berating them until they get more hash power online which is hopefully just a rinse and repeat process for all the chips and PCBs they have.

Yeah, but we have no idea how much hash power they have.  It could be 11Th/s, or it could be 300Gh/s.  They could have been accumulating BTC in Slush and BTCGuild accounts for a while, and the follow on payments from slush were low - but slush's payout system is weird, and if they left the pool they'd still get small payouts.  Then we get this payment from BTCGuild, for whatever. And then nothing since.  We have no idea what their payout threshold is on BTCGuild.

So somehow, this company has managed to post a mining address, receive multiple payments, and yet still we have absolutely no idea what's actually going on.

afrotec
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September 19, 2013, 02:09:38 PM
 #11937

The important thing to me is it appears they are making progress.
can you show me the progress?

what I see are very likely trolling attempts by people sending their mined coins to that LC address and the stock rising, and then big sells happening.  I watched it last night with the Slush news, and after the second payment came from slush, the price rose to .03, and someone sold like 15K shares.  If they bought those shares near yesterday's low, they made some good coin on that manipulation.

I just can't bring myself to trust these payments from random pools.  It's too easy for someone to fake to pump up the price.

I've been thinking the same thing myself. But I want to believe.......

We need labcoin to come on and at least confirm that those are coins mined by them
auto2nr1
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September 19, 2013, 03:52:24 PM
 #11938

So somehow, this company has managed to post a mining address, receive multiple payments, and yet still we have absolutely no idea what's actually going on.

Yup, you got it. Pretty incredible if you think about how they managed to pull this off. I can't believe people are trolling the mining address to pump/dump the shares. This is insane. I wonder how much longer we will be left in the dark.
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September 19, 2013, 03:53:18 PM
 #11939

I don’t understand, everyone dumps their shares because they think it’s a scam. Now it’s proven that their not a scam. But people are bitching about technical issues as if their Pro engineers or have their own mining company that’s doing so good. So now the only issue is LC not constantly giving updates with pictures. Ever think that maybe their sick and tired of trying to please people at a place where 75% of people have no respect and outright call them a scam with no evidence, except their high school intuition. Or maybe LC doesn’t like giving deadlines because their working on something where there is constantly going to be un-foreseeable issues that will arise when doing something for the first time, that most people who talk all the trash would never have the balls to attempt. Its apparent that LC has no option but to prove things with results, which is why LC is never online, giving future progress updates, because when things don’t go the way they planed to the T, its all of a sudden a huge scam, and on top of that, the arrogant pricks that roam this thread some how think they deserve answer immediately, if any.

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moneymanagment
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September 19, 2013, 03:54:57 PM
 #11940

Either you understand and have faith or you dont. Simple as that. Your not vice president, if you dont like it move on and get lost. No one cares that your simple minded.

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