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Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1042022 times)
Zakryze
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September 20, 2013, 01:44:00 AM
 #12161

ok sherlock, how much information do we have on these guys? who will trace their steps and can actually do so? the nsa maybe but will they fly to uganda to get him or them? what if they just borrow time like with their announcements which were obviously lies? Both sides of this argument are imaginations. I just think yours are wilder than mine. It's not so hard to hide from persecution in china for example.
We are talking about almost a million dollars here and tens of thousands of people. If just one of them works for a powerful government then where are they supposed to hide? People in the Chinese government could be investors, you never know.

but it's ok if you dont want to think out of the box. Just leave my concerns to me and we will see where this will end. I dont have to run from anything or ignore someone because i can even accept if if my theories or imaginations are blunders.
There are likely scenarios but some of the scenarios you are presenting are just not likely. I don't think it's impossible, but it isn't very smart for people who are all college educated. They are going to give up all their dreams and all their futures to try to scam? The economy is bad, but that is just stupid. They could have just set up an ordinary mining company and purchased HashFast like other companies are doing. They would have made plenty of money.

Obvious scam would get them arrested earlier if you ask me. Of course the longer they proceed this the higher is the chance of them making a mistake that will reveal their identity but who knows who we actually deal with right now?

Can we just stop making this a personal fight?
Why do you assume their identites are secret just because you don't know?
You think out of thousands of people not one of them has the skills and resources to find out?

You watch too many movies.

It's easy to burn bridges for enough cash. The 3 avalons mentioned above were sent somewhere and that's one trace that might lead to something but who in here will actually investigate?
What does a government care about some shareholders? As someone else mentioned just lately this is pretty much unregulated and don't you think govs have something else on their agenda? just because america is persecuting people like pirateat doesnt mean every government does.
This argument leads to nothing as i mentioned often enough now. What is likely or not doesnt count in most scamcases believe me. I never said scamming was smart. I believe in karma and i never said you are wrong but we must keep all those concerns in mind and none of them are better or worse than the others.
I'm giving you this general answer because we are already spinning in circles. I dont want to discredit you or anything.

PS: would the real powerful government people please stand up?

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1508681481
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Bitcycle
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September 20, 2013, 01:46:55 AM
 #12162



The longer they remain silent, the lower this is going to go.

Entirely predictable.


Luckybit
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September 20, 2013, 01:50:18 AM
 #12163

They are all going to be millionaires if they get these chips to hash and if they don't then that is business. Most startups go bankrupt.
LOL
They're already millionaires. They already took your BTC. They don't need to do shit. They can string you along as long as they like and still sell their remaining shares at 2x IPO because there are plenty of believers out there ready to hold the bags.

That is not true. They do have to mine and deliver dividends. If they do not even attempt to do that then what good are all those Bitcoins if they can't spend it?

What do you think they'll do? Start buying pizzas and cars with their corporate funding? That is clearly illegal.

They are obligated as a corporation to make chips and mine with them. If they don't then they'll go out of business, all their Bitcoins will be confiscated, etc.

They have the chance to be millionaires if they simply play by the rules and do what their corporation was set up to do when they asked for funding. If they don't do this the community knows where their coins are, everything is transparent.

Wow your obviously in the dark about how a bitcoin stock works. THERE IS NO REGULATION. Didn't you read the waiver in order to invest? You had to admit to investing in fake made up companies.

"BTC-TC is not a real-world stock exchange and does not offer opportunity for direct real-world investment or profit. While we fully expect listed virtual companies to follow through with their virtual business plans, please KEEP IN MIND AT ALL TIMES -- shares purchased on this stock exchange simulation do not entitle you to legal real-world rights to a listed virtual company as you would expect from a real company."

 You can't confiscate bitcoins from these guys. This company is run by people hiding behind a computer. Nobody knows who they are. BTC are easily washed too so it makes it extremely difficult to track them. Trust me, nobody can get those btc back.

Nobody knows who they are? That clearly isn't true. It's also not true that Bitcoin is easily washed. It's also not true that law enforcement doesn't get involved. Anyway I'm not debating this anymore, I see now it's a complete waste of time and people talking don't even know technical details or the law.
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September 20, 2013, 01:55:32 AM
 #12164



Nobody knows who they are? That clearly isn't true. It's also not true that Bitcoin is easily washed. It's also not true that law enforcement doesn't get involved. Anyway I'm not debating this anymore, I see now it's a complete waste of time and people talking don't even know technical details or the law.

oh bitcoins cant be coldstored and maybe hidden? i know your imagination is limited but i didnt know you had such a small horizon. Who knows who they are then? did you hear of the case of fritzl? many people like these can go under the radar for ages. its only when we find out our minds are blown away and maybe this will be the case with labcoin and your mind too.

This is my last post here until we have real evidence of labcoins actual agenda and "realness" in case i wont be addressed directly. Sorry that i bothered you with my concerns. You seem to know what you do. Njoy

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BitCsByBit
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September 20, 2013, 01:57:40 AM
 #12165

So many ActM trolls!!!!!

I guess they just don't know what to do with themselves now when the ActM share price is below the IPO and their original thread is locked. Even their "Board of Advisors" have unanimously resigned!

I guess it will only get worse for the ActM shareholders, considering that on BTCT there is only BTC71.4 on the bids side all the way down to 0.00000003Grin

On top of that, there is nothing to look forward to until the second half of November, and that is if no technical issues are experienced, which is highly unlikely in the BTC mining world.

At least they are designing ground breaking technology where you can mine with the Solid State HDD's   Grin


It seems ActiveMining's business also include photoshopping SSD devices through its wholly owned subsidiary Virtual Mining Corporation (VMC).






If you want to clean up the thread, please ignore, and don't reply to, the following people that "dhenson" has compiled for us:

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BitThink
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September 20, 2013, 02:08:48 AM
 #12166

it's a blessing to believe in law and law enforcement. If everyone does that, we will see much less crime.

That said, there's a much more likely answer to current situation than scam. The chips do not work well, at least not stable enough. If it is just board issue or software issue, it will be fixed already, considering 2 weeks have past. Moreover, board/software issue is a small issue, so they can admit it easily. Only the chip failure makes them reluctant to let us know. They just tried everything they could to buy sometime for them to fix, if it is fixable. just wish they have not spent a lot in ordering large number of unstable chips already. Chips may work initially and passed their tests before they realized they do not work stably.
KCBitcoin
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September 20, 2013, 02:11:04 AM
 #12167

it's a blessing to believe in law and law enforcement. If everyone does that, we will see much less crime.

That said, there's a much more likely answer to current situation than scam. The chips do not work well, at least not stable enough. If it is just board issue or software issue, it will be fixed already, considering 2 weeks have past. Moreover, board/software issue is a small issue, so they can admit it easily. Only the chip failure makes them reluctant to let us know. They just tried everything they could to buy sometime for them to fix, if it is fixable. just wish they have not spent a lot in ordering large number of unstable chips already. Chips may work initially and passed their tests before they realized they do not work stably.
+1
Bitcycle
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September 20, 2013, 02:12:46 AM
 #12168

it's a blessing to believe in law and law enforcement. If everyone does that, we will see much less crime.

That said, there's a much more likely answer to current situation than scam. The chips do not work well, at least not stable enough. If it is just board issue or software issue, it will be fixed already, considering 2 weeks have past. Moreover, board/software issue is a small issue, so they can admit it easily. Only the chip failure makes them reluctant to let us know. They just tried everything they could to buy sometime for them to fix, if it is fixable. just wish they have not spent a lot in ordering large number of unstable chips already. Chips may work initially and passed their tests before they realized they do not work stably.

My suspicion is that they're having trouble on an operational level. They've likely gone with a data center that's simply not capable of making this work, perhaps in terms of power consumption, or climate control with so much heat generated.  Or their ops guy(s) is completely incompetent.

But who knows?

Because....yes, they still aren't talking to us.
wickedgoodtrader
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September 20, 2013, 02:16:39 AM
 #12169

it's a blessing to believe in law and law enforcement. If everyone does that, we will see much less crime.

That said, there's a much more likely answer to current situation than scam. The chips do not work well, at least not stable enough. If it is just board issue or software issue, it will be fixed already, considering 2 weeks have past. Moreover, board/software issue is a small issue, so they can admit it easily. Only the chip failure makes them reluctant to let us know. They just tried everything they could to buy sometime for them to fix, if it is fixable. just wish they have not spent a lot in ordering large number of unstable chips already. Chips may work initially and passed their tests before they realized they do not work stably.

O.k then BEST case is you have incompetent liars running a company in a competitive business. What would make you think they can beat out the other honest knowledgeable players?
BitThink
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September 20, 2013, 02:23:33 AM
 #12170

There were some words in their previous updates could back up my guess.
1) they said they will give out test chips to public for testing and even have some private preorders. But after they got their chips, they announced the 1 gen chips will only be used in self mining. I believe nobody got the testing chips, not even TheSwede75.
2) labcoin described the chips as "design was rough but works". TheSwede75 admitted that 6T was changed to 4T due to under performance. Seems nobody officially claimed the chips worked to their specification.
3) they once tried to show us a screenshot of hashing rate but never did it.

I may be wrong in my guessing. But it is really their responsibility to show the results of testing chips to their shareholders weeks ago.
Panterino
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September 20, 2013, 02:25:13 AM
 #12171

it's a blessing to believe in law and law enforcement. If everyone does that, we will see much less crime.

That said, there's a much more likely answer to current situation than scam. The chips do not work well, at least not stable enough. If it is just board issue or software issue, it will be fixed already, considering 2 weeks have past. Moreover, board/software issue is a small issue, so they can admit it easily. Only the chip failure makes them reluctant to let us know. They just tried everything they could to buy sometime for them to fix, if it is fixable. just wish they have not spent a lot in ordering large number of unstable chips already. Chips may work initially and passed their tests before they realized they do not work stably.
+1

Hence why they are "concentrating on 65nm"
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September 20, 2013, 02:27:15 AM
 #12172

it's a blessing to believe in law and law enforcement. If everyone does that, we will see much less crime.

That said, there's a much more likely answer to current situation than scam. The chips do not work well, at least not stable enough. If it is just board issue or software issue, it will be fixed already, considering 2 weeks have past. Moreover, board/software issue is a small issue, so they can admit it easily. Only the chip failure makes them reluctant to let us know. They just tried everything they could to buy sometime for them to fix, if it is fixable. just wish they have not spent a lot in ordering large number of unstable chips already. Chips may work initially and passed their tests before they realized they do not work stably.
+1

Hence why they are "concentrating on 65nm"

And maybe this mythical end of October is when they plan on having 65nm....
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September 20, 2013, 02:30:17 AM
 #12173

If you want to clean up the thread, please ignore, and don't reply to, the following people that "dhenson" has compiled for us:

Anotheranonlol
iCEBREAKER
kokojie
pankkake
velacreations
drawingthesun
wickedgoodtrader
physalis
aquarius
Vigil
camu6
limbaugh
well.attenuated
AngelSky
eve
crumbs
TECHICENINE
Stuartuk
zumzero
Zakryze

Thank you, much better now!

BitThink
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September 20, 2013, 02:32:14 AM
 #12174

it's a blessing to believe in law and law enforcement. If everyone does that, we will see much less crime.

That said, there's a much more likely answer to current situation than scam. The chips do not work well, at least not stable enough. If it is just board issue or software issue, it will be fixed already, considering 2 weeks have past. Moreover, board/software issue is a small issue, so they can admit it easily. Only the chip failure makes them reluctant to let us know. They just tried everything they could to buy sometime for them to fix, if it is fixable. just wish they have not spent a lot in ordering large number of unstable chips already. Chips may work initially and passed their tests before they realized they do not work stably.
+1

Hence why they are "concentrating on 65nm"

And maybe this mythical end of October is when they plan on having 65nm....

Yes, exactly. They are expecting 65nm testing chips be available at the end of October. So labcoin kept saying 'make decision at the end of October.'
zefyr0s
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September 20, 2013, 02:33:19 AM
 #12175

Something someone posted earlier made me think, but I'm not sure, so I'll put it to you guys.

Why would labcoin suggest for people to buy shares low? It honestly should make no difference to them what the price of their stock is, as they've already IPO'd and gotten their money. Only investors would really have an incentive to build up or knock down the price.

Labcoin should be focused on their business, not what the market is doing.
Luckybit
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September 20, 2013, 02:53:40 AM
 #12176

Something someone posted earlier made me think, but I'm not sure, so I'll put it to you guys.

Why would labcoin suggest for people to buy shares low? It honestly should make no difference to them what the price of their stock is, as they've already IPO'd and gotten their money. Only investors would really have an incentive to build up or knock down the price.

Labcoin should be focused on their business, not what the market is doing.

Keep in mind that the guys actually doing the work aren't the ones posting here.

That statement, while extremely unprofessional, doesn't really mean much in the grand scheme of things, imo. It's just more proof of their crappy PR. It shows nothing of their actual ability to hash.
It's actually just one guy.
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September 20, 2013, 02:54:39 AM
 #12177

Public Note: "I am going to let the mining speak for itself."

http://blockchain.info/address/1BA782NB1jiAmfAPAM5Bcn8BZkcXCie6FJ

http://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trm
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September 20, 2013, 02:57:48 AM
 #12178

That statement, and the various other statements by TheSwede about "cheap shares"and suggesting we buy are what set off alarm bells for me. So much so that I sold my whole Labcoin stake. It all sounded good according to the prospectus but there's too many reasons to want to get out for me to stay in - there have been so many chances to conclusively show that things are as they should be, and every time they've failed.

I don't give up any hope that they might in the future, but based on their record to date, I got out.

Unlevereged financial instruments acting as a store of value that fluctuate 50% within 10 minutes is perfectly acceptable. I think it should be offered in IRA form to soon to be retirees.
VolanicEruptor
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September 20, 2013, 02:57:59 AM
 #12179


That's a really pointless trolling attempt, whoever did that.  They should do something else with their time.  

xchrisxsays
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September 20, 2013, 02:58:13 AM
 #12180

Something someone posted earlier made me think, but I'm not sure, so I'll put it to you guys.

Why would labcoin suggest for people to buy shares low? It honestly should make no difference to them what the price of their stock is, as they've already IPO'd and gotten their money. Only investors would really have an incentive to build up or knock down the price.

Labcoin should be focused on their business, not what the market is doing.



They own a large percentage of shares, so share price is significant to them.
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