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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
BombaUcigasa
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September 19, 2013, 07:09:41 PM
 #12021

If you have the block reward and pool hash rate and you know the percentage that Labcoin received from that block reward then you can estimate the hash rate. I don't have the equation in front of me because I'm not a math nerd but I'm sure someone here can explain it to you.

That is correct. However to apply the equation you need access to those numbers you mentioned. Do you know the block reward, pool rate and Labcoin percentage at this moment?
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Luckybit
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September 19, 2013, 07:11:16 PM
 #12022

But why would anyone do this if its a scam? Scams aren't supposed to lose money.
People would do this if its to save face but not out of greed.
Scam cost ~4 btc. 
Buy 15K shares at .0022 yesterday: 33 btc.
Sell 15K shares around .0029 yesterday: 43.5 btc

profit: 6.5 btc ON JUST ONE MOVE

Yeah so they'll do all that for  43.5 BTC when they could have had more if they posted fake pictures? If they are scammers they are stupid. Missing deadlines makes your shares worth a lot less. All they had to do to run a scam is post a video of some box mining away, with fake pictures, and elaborate fake technical specifications and the share prices would have already been over 0.004.
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September 19, 2013, 07:12:10 PM
 #12023

If you have the block reward and pool hash rate and you know the percentage that Labcoin received from that block reward then you can estimate the hash rate. I don't have the equation in front of me because I'm not a math nerd but I'm sure someone here can explain it to you.

That is correct. However to apply the equation you need access to those numbers you mentioned. Do you know the block reward, pool rate and Labcoin percentage at this moment?

At one point I saw it posted somewhere on this forum. They are at BTC Guild. That is all I know at the moment.
ShroomsKit
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September 19, 2013, 07:13:54 PM
 #12024

Labcoin could spend 2 minutes to clear things up. But as always they refuse to.
Crazy. Absolutely crazy.

Its price is not a very relevant factor in its adoption....
velacreations
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September 19, 2013, 07:14:03 PM
 #12025

Yeah so they'll do all that for  43.5 BTC when they could have had more if they posted fake pictures?
what makes you think it is Labcoin?  I'm saying it is a 3rd party troll, not labcoin sending those payments to the Labcoin address to generate share price fluctuations. 

velacreations
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September 19, 2013, 07:15:40 PM
 #12026

At one point I saw it posted somewhere on this forum. They are at BTC Guild. That is all I know at the moment.

All you know is that a payment is coming from BTC Guild.

just a while ago someone mentioned the hash rate:
Quote
250 GH/s (= 1.12 BTC / day currently, at 100% PPS)

So, that's like what?  1 USB miner?

Luckybit
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September 19, 2013, 07:16:01 PM
 #12027

But why would anyone do this if its a scam? Scams aren't supposed to lose money.
People would do this if its to save face but not out of greed.
Scam cost ~4 btc. 
Buy 15K shares at .0022 yesterday: 33 btc.
Sell 15K shares around .0029 yesterday: 43.5 btc

profit: 6.5 btc ON JUST ONE MOVE

They have 7000+ Bitcoins and you're telling me they'll do all that elaborate work for 6.5 BTC?
They are rich already! They already have 30% of 7000+ Bitcoins.

You're acting as if they are desperate teenagers mining from their mothers basements.
velacreations
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September 19, 2013, 07:17:28 PM
 #12028

Labcoin could spend 2 minutes to clear things up. But as always they refuse to.
Crazy. Absolutely crazy.
why do you think that is?  what would motivate a team that has lot all credibility to mine and earn money but not tell anyone about it?

what's the most likely explanation?  those are not Labcoin's coins.

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September 19, 2013, 07:18:03 PM
 #12029

Yeah so they'll do all that for  43.5 BTC when they could have had more if they posted fake pictures?
what makes you think it is Labcoin?  I'm saying it is a 3rd party troll, not labcoin sending those payments to the Labcoin address to generate share price fluctuations.  

That makes some sense. Sure a third party troll could do that. Doing it without getting caught wont be easy though. Also if they can mine so easily, can't they just sell at a loss and mine with their 0.5-1TH?

Anyway if you're right then the mining will stop soon because it wont last through the weekend and probably wouldn't last much longer than 48hr.
velacreations
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September 19, 2013, 07:19:11 PM
 #12030

But why would anyone do this if its a scam? Scams aren't supposed to lose money.
People would do this if its to save face but not out of greed.
Scam cost ~4 btc. 
Buy 15K shares at .0022 yesterday: 33 btc.
Sell 15K shares around .0029 yesterday: 43.5 btc

profit: 6.5 btc ON JUST ONE MOVE

They have 7000+ Bitcoins and you're telling me they'll do all that elaborate work for 6.5 BTC?
They are rich already! They already have 30% of 7000+ Bitcoins.

You're acting as if they are desperate teenagers mining from their mothers basements.

dude, you don't get it, it is not Labcoin pulling that scam.  Labcoin is not mining! 

Yes, it is some teenage troll in their basement with a USB miner sending their BTC guild revenue to the Labcoin address to increse the Labcoin share price to sell to the suckers who are buying labcoin right now!

Bitcycle
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September 19, 2013, 07:20:40 PM
 #12031



It's pretty clear to me that Labcoin is not mining in any meaningful way. They'd be bragging about it if they were, and justifiably so.

They're obviously still having issues of some sort and don't want to admit it.
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September 19, 2013, 07:20:57 PM
 #12032

Labcoin could spend 2 minutes to clear things up. But as always they refuse to.
Crazy. Absolutely crazy.
why do you think that is?  what would motivate a team that has lot all credibility to mine and earn money but not tell anyone about it?

what's the most likely explanation?  those are not Labcoin's coins.

They already have the money. They have no incentive to care about the price of shares.
The only thing they should care about is getting their chips to work and figuring out how to mine with it.

If share prices drop that even might benefit them because "Cheap shares" for the CEO.
Believe it, he's fully capable of buying shares at cheap prices and using that language to crash the price.

But considering they have plenty of Bitcoins already due to having so many shares, if they would want to crash the price it reveals absolute confidence in their operation. If they were pumping the price then it's likely a scam.
AngelSky
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September 19, 2013, 07:20:58 PM
 #12033

So I heard that the hashrate was about 250 GH/s ? Amazing company.

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 ▄█████████ ███      ███  ▄█████  ▄█████  ▄████████▄   ▄████████▄   ▄█████████ ███       ███
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velacreations
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September 19, 2013, 07:21:53 PM
 #12034

Anyway if you're right then the mining will stop soon because it wont last through the weekend and probably wouldn't last much longer than 48hr.
it will keep going as long as the price to maintain the scam is less that the profits from selling shares on the spikes every time someone like you says "see, that's proof! Labcoin is mining" and then the share price jumps, scammer makes money, and rinse, repeat.

afrotec
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September 19, 2013, 07:21:58 PM
 #12035

At one point I saw it posted somewhere on this forum. They are at BTC Guild. That is all I know at the moment.

All you know is that a payment is coming from BTC Guild.

just a while ago someone mentioned the hash rate:
Quote
250 GH/s (= 1.12 BTC / day currently, at 100% PPS)

So, that's like what?  1 USB miner?


But isn't this figure based on the July screenshot of the avalon miners?
matt4054
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September 19, 2013, 07:23:24 PM
 #12036

At one point I saw it posted somewhere on this forum. They are at BTC Guild. That is all I know at the moment.

All you know is that a payment is coming from BTC Guild.

just a while ago someone mentioned the hash rate:
Quote
250 GH/s (= 1.12 BTC / day currently, at 100% PPS)

So, that's like what?  1 USB miner?


My calculation is based on the incoming rate, ignoring the 1st payment (because obviously profits were accumulated, and there's nothing wrong with that, but I have to exclude it to make calculations).

Now it's puzzling that it corresponds to the 250 GH/s of 4 Avalon miners. However, if you assume good faith, there is no evidence for or against the "Avalon" version.

It is a fact, however, that the current incoming rate of BTC on that address corresponds to about 250 GH/s
velacreations
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September 19, 2013, 07:24:52 PM
 #12037

They have no incentive to care about the price of shares.

then why do they beg people to buy shares when the price drops?

Again, we advise anyone to purchase more shares now that they are cheap.

take advantage of the current cheap prices.

Luckybit
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September 19, 2013, 07:24:57 PM
 #12038

Anyway if you're right then the mining will stop soon because it wont last through the weekend and probably wouldn't last much longer than 48hr.
it will keep going as long as the price to maintain the scam is less that the profits from selling shares on the spikes every time someone like you says "see, that's proof! Labcoin is mining" and then the share price jumps, scammer makes money, and rinse, repeat.

Okay so what stops the scammer from forming a team then  taking turns and pointing their rigs? The scammer doing this could always call in a few of his friends.

I think you just want cheap shares.

quote author=velacreations link=topic=263445.msg3191870#msg3191870 date=1379618692]
They have no incentive to care about the price of shares.

then why do they beg people to buy shares when the price drops?

Again, we advise anyone to purchase more shares now that they are cheap.

take advantage of the current cheap prices.

[/quote]

Maybe because he bought his cheap shares and he wants you to buy yours. I don't deny that he probably is buying them cheap. But he has said things which crashed the price and missed deadlines that he has set down to the hour.
velacreations
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September 19, 2013, 07:25:43 PM
 #12039



It's pretty clear to me that Labcoin is not mining in any meaningful way. They'd be bragging about it if they were, and justifiably so.

They're obviously still having issues of some sort and don't want to admit it.
+1
we find ourselves agreeing once again

auto2nr1
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September 19, 2013, 07:27:07 PM
 #12040

Labcoin could spend 2 minutes to clear things up. But as always they refuse to.
Crazy. Absolutely crazy.

+1

I feel the same way. Why not just come clean and give us a detailed explanation. It is better than silence.
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