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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1041242 times)
Ytterbium
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September 20, 2013, 06:25:05 AM
 #12321

How much longer do you think the price will stay over 0.0015 if they don't get any hashing going? There are some put options available on btct.co, you could theoretically make money shorting this.

As I said, since boards only take 24 hours to have made - the only explanation I can think of at this point is that their chips don't work. And if the chips don't work, we won't see any mining at all for a few more weeks at the earliest, while we wait for new ones to be manufactured. (And of course, that would explain why they asked people to wait until the end of October, for their 65nm chips to finish)

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Bitcycle
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September 20, 2013, 06:27:15 AM
 #12322

How much longer do you think the price will stay over 0.0015 if they don't get any hashing going? There are some put options available on btct.co, you could theoretically make money shorting this.

They expire in 17 hours.  If it was 3 days I might gamble.  But 17 hours seems like a real roll of the dice.
BitThink
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September 20, 2013, 06:27:52 AM
 #12323

All you guys are doing is spooking the day traders and short term flippers.

The loudest people here are the ones that never held any shares, or bought some and panic sold them.

80% of the public shares have not changed hands since the IPO. A few setbacks will not have any major impact in the long run.

Yes Labcoin could spend more time on the forums and provide more information, but I would rather them concentrating at ironing out the issues at hand. And what is the point when day traders and short term flippers will analyse and twist anything Labcoin says, to create FUD, so they can to improve their position.

Vast majority of shareholders don't need hand holding!!!

For whatever reason, if a company promised to give a public mining address for the investors to monitor the hashing rate, but there's almost nothing after 36 hours, do you think the investors deserve an official clarification? I don't believe there's any reason to defend them at this issue.

Someone may avoid saying anything bad when they still own the shares, but I don't think that is reasonable. I still hold quite a lot shares of labcoin, but I will not betray my feelings just because I am afraid of my word will make the share price to tank further. First, I don't think I have the ability to affect the market at all. Second, I don't think it is morally correct to mislead any newcomers either to buy or hold in this situation.

The only advise from me, if anyone will listen to me, is do not buy or sell at this moment.

The reason for not buying is simple. Even if the price shoots up to above 0.003 when there's consistent hashing rate, you can still expect a big reward since if labcoin really works, the share price is very likely to be close to 0.01. You don't need to take risk now unless you are a day trader gambling with comfortable amount.

But in the same time don't panic sell even if you don't trust this company now.  In my opinion, panic selling is never a good option. Very rarely, the stock price will drop like a stone, and you can always find a better chance to quit. Take every rebound as your chances to quit if you don't trust this company any more.
Bitcycle
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September 20, 2013, 06:33:27 AM
 #12324


Maybe they've been hashing all along and are just saving their dividends on the pool instead of sending them to the address.

 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Ytterbium
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September 20, 2013, 06:34:00 AM
 #12325

How much longer do you think the price will stay over 0.0015 if they don't get any hashing going? There are some put options available on btct.co, you could theoretically make money shorting this.

They expire in 17 hours.  If it was 3 days I might gamble.  But 17 hours seems like a real roll of the dice.

That's what makes it fun, though Tongue. 17 hours is enough for everyone in Europe and the US to see what's going on.

But at this point, it seems like if there was a problem that could be fixed quickly then they would have fixed it by now.  So any technical problems they're having, they're likely to continue having for a while. Longer then 17 hours anyway.

Ytterbium
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September 20, 2013, 06:36:07 AM
 #12326


Maybe they've been hashing all along and are just saving their dividends on the pool instead of sending them to the address.

 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes

Lol,  like I said - if they were doing that then they really are scammers who are screwing over their shareholders.

Bitcycle
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September 20, 2013, 06:44:27 AM
 #12327


My most generous theory about what's happening-

The originally planned to solo mine.  That seemed like a good idea at the time, I guess, but they realized variance was going to kill them. 

So they moved to pool mining. But they didn't have software ready for it.  They assumed they could knock it out quickly, or their programmer told them he could anyway.

As often turns out to be the case, the programmer greatly underestimated the complexity of the task.

It could be they decided to pool as recently as a couple days ago and their coder is just in over his head somehow.

< / end generous theorizing >

As always, we'd know if they told us.  But they're determined to ruin their reputation by not letting us know.
Ytterbium
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September 20, 2013, 06:50:53 AM
 #12328

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[01:45] <StalkBot> User TheSwede75 has just come *** ONLINE *** at bitcointalk.org

TheSwede75 just showed up online, maybe he can provide some explanation.



My most generous theory about what's happening-

The originally planned to solo mine.  That seemed like a good idea at the time, I guess, but they realized variance was going to kill them. 

So they moved to pool mining. But they didn't have software ready for it.  They assumed they could knock it out quickly, or their programmer told them he could anyway.

As often turns out to be the case, the programmer greatly underestimated the complexity of the task.

The problem is, even at 2Th/s they would have found multiple blocks by now.

Quote
As always, we'd know if they told us.  But they're determined to ruin their reputation by not letting us know.

And, thus the share price.

BitThink
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September 20, 2013, 06:54:12 AM
 #12329


My most generous theory about what's happening-

The originally planned to solo mine.  That seemed like a good idea at the time, I guess, but they realized variance was going to kill them.  

So they moved to pool mining. But they didn't have software ready for it.  They assumed they could knock it out quickly, or their programmer told them he could anyway.

As often turns out to be the case, the programmer greatly underestimated the complexity of the task.

It could be they decided to pool as recently as a couple days ago and their coder is just in over his head somehow.

< / end generous theorizing >

As always, we'd know if they told us.  But they're determined to ruin their reputation by not letting us know.

They have got 3.3 BTC on Slush's pool and 1.1 BTC on BTCGuild. So it seems the pool mining worked, but only the mining self was not stable. Or, these BTCs were mined with other chips, such as the Avalons mentioned before.
powpow
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September 20, 2013, 06:55:24 AM
 #12330

I find it funny that TheSwede has the same real name as a famous Swedish hockey player...
demzie
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September 20, 2013, 07:00:05 AM
 #12331

Okay we now know who are the trollers/fudsters and who are believers.. yeah yeah; shame/blame/fame..

I dont get one thing: Why would someone (who prolly has sold all his shares) still be fucking up the company and/or this threat?

I mean move on? Why do you care? Are you so angry? Did you loose so much?

yawn you're not getting tired of it either. there are still some people who want to keep bitcoin a safe haven of investments you fool.
any word is wasted on you and johny though. you're unable to share our view anyways. you can't be convinced.  

I do share your concerns, but im no daytrader and not stupid..
Probally unlikely of you, i already got my investment out and the shares i have are pure profit.

Ofcourse i do know and see what can be better; sure labcoin screws up.. But im not here for their management..
Im here for their chips on long term..

But if i sold everything and didnt care anymore i would not waste my time on labcoin, i would move on!
Sure checking news out of curiosity but nothing more; like bullshit fud messages you do. Why?
BitThink
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September 20, 2013, 07:01:44 AM
 #12332

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[01:45] <StalkBot> User TheSwede75 has just come *** ONLINE *** at bitcointalk.org

TheSwede75 just showed up online, maybe he can provide some explanation.


By looking at his latest posts, he was quite happy in posting in a mining chips group buy thread. From beginning on, I feel he does not care much about labcoin at all.
Ytterbium
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September 20, 2013, 07:02:50 AM
 #12333

aaaaaaand offline:

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[02:00] <StalkBot> User TheSwede75 is now offline at bitcointalk.org

kingcrimson
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September 20, 2013, 07:07:03 AM
 #12334

TheSwede isnt coming back, the death threats scared him off. I think the hashing address is the last we are getting from them, take or leave.
Progressive
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September 20, 2013, 07:11:26 AM
 #12335

camu6
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September 20, 2013, 07:14:40 AM
 #12336

Sweet advice. Was about to post the same screenshot.

BitThink
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September 20, 2013, 07:16:25 AM
 #12337

Finally, burnside did something. That's a behavior deserves respect, considering labcoin often contributes big part of the volume of BTCT.
stereotype
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September 20, 2013, 07:21:12 AM
 #12338

Remember when Labcoin blatantly lied about having 2 TH?




So this has been addressed and found to be an honest mistake, yes??
Ytterbium
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September 20, 2013, 07:21:16 AM
 #12339

Someone just added a 7 day put option as well, along with a 16 hour one.  If they fail to hash in 7 days you could really make some money on that.

Those warnings could really cause the price to tank (and should, really).

Remember when Labcoin blatantly lied about having 2 TH?




So this has been addressed and found to be an honest mistake, yes??

Uh, no. It hasn't been addressed at all.  Before they posted the mining address, it was possible they were hashing and we didn't know about it.

Now that they have, we know for sure they are not hashing.  Unless they are hashing and stealing from their shareholders. Which is also possible.

somestranger
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September 20, 2013, 07:25:06 AM
 #12340

Here we go! Don't be a bagholder! 22,000 share ask wall and 20,000 shares sold... someone must want cheap shares  Roll Eyes.

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