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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1079404 times)
Ytterbium
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September 20, 2013, 08:17:27 AM
 #12361

tl;dr - what happened over night?
Basically nothing. More dumping and buying-up of shares while FUD continues from everyone who "doesn't own any shares". And Burnside posted a "Warning" on the Labcoin page.

Keep in mind "Nothing" includes"  no mining revenue coming into their address. Which means, obviously, they're not hashing.

The only revenue that did show up is consistent with them mining with their 3x, 3 module Avalons at 350Mh/s.

The other big problem is that they've had their chips for over a week, and no sign of hashing whatsoever.  Over 24h since they posted their mining address, and funds started showing up there, which have since dried up.

Since PCBs only take 24 hours to have made the obvious conclusion is that their chips don't work, and they won't be hashing until they can fix the problems with the 130nm chip.[/b].

Based on some of their earlier comments - it seems like they may not even bother doing that instead waiting until their 65nm chips come in.

24h ago, it was reasonable to think they would start hashing really soon and we'd see revenue flow into their address.  Since we haven't seen anything other then a few dumps of what were probably saved up coins in Slush and BTCGuild accounts, it now seems like there's little chance of that happening.

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FloatesMcgoates
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September 20, 2013, 08:17:43 AM
 #12362

There goes the support at .0016, lets see how long .0015 will hold up, probably not long.
Ytterbium
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September 20, 2013, 08:20:55 AM
 #12363

So what do you guys think the price will be in 24 hours if they don't start hashing?

Bitcycle
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September 20, 2013, 08:21:48 AM
 #12364

There goes the support at .0016, lets see how long .0015 will hold up, probably not long.

Yeah.  Dunno how low this is headed.  0.0012?
ronaldlee0917
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September 20, 2013, 08:22:20 AM
 #12365

With a large warning banner like that, I think the price of Labcoin would not recover once again, no people buying it anymore, only sell sell sell, we will see sub-ipo price soon.

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Vigil
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September 20, 2013, 08:22:39 AM
 #12366

Should I panic sell? Smiley But seriously.
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September 20, 2013, 08:23:31 AM
 #12367

tl;dr - what happened over night?
Basically nothing. More dumping and buying-up of shares while FUD continues from everyone who "doesn't own any shares". And Burnside posted a "Warning" on the Labcoin page.
By FUD, presumably you mean confirmation that Labcoin is not hashing, as evidenced by Labcoin's own signed mining address?
BitThink
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September 20, 2013, 08:26:56 AM
 #12368

Should I panic sell? Smiley But seriously.
Depends on how much you will lose if you don't, or you do. Smiley
klee
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September 20, 2013, 08:28:14 AM
 #12369

Should I panic sell? Smiley But seriously.
Depends on how much you will lose if you don't, or you do. Smiley
I did so (my last shares forgotten @ Havelock PT)! Tongue
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September 20, 2013, 08:28:22 AM
 #12370

Should I panic sell? Smiley But seriously.
Depends on how much you will lose if you don't, or you do. Smiley
Well, I'm close to 40% loss if I sold now. Good thing I woke up.
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September 20, 2013, 08:29:50 AM
 #12371

There's still people buying the asks it seems... Just earned the spread of 10% with a small amount of shares (I hold no long term position in Labcoin, but like to play the higher-lower game).
Vigil
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September 20, 2013, 08:31:46 AM
 #12372

There's still people buying the asks it seems... Just earned the spread of 10% with a small amount of shares (I hold no long term position in Labcoin, but like to play the higher-lower game).
Of course, that works when a stock is relatively stable in some range, but eventually you get caught in a downward trend and you are stuck with a situation like this where there are bouts of massive dumping.
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September 20, 2013, 08:32:25 AM
 #12373

There's still people buying the asks it seems... Just earned the spread of 10% with a small amount of shares (I hold no long term position in Labcoin, but like to play the higher-lower game).

Is it you who runs some bots on Labcoin? Like the one that doubles each ask and the other one that places 1/10 of each bid? Or the smallish orders that pop up once in a while? Wink

Bitcycle
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September 20, 2013, 08:33:38 AM
 #12374

There's still people buying the asks it seems... Just earned the spread of 10% with a small amount of shares (I hold no long term position in Labcoin, but like to play the higher-lower game).

Is it you who runs some bots on Labcoin? Like the one that doubles each ask and the other one that places 1/10 of each bid? Or the smallish orders that pop up once in a while? Wink

I hate that double-ask bot.   Angry
Vigil
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September 20, 2013, 08:34:09 AM
 #12375

I have a feeling this will bounce back up to .002 at least, but that is only because it has in the past. I figure those guys buying all these shares at .0015 and .0016 are going to want to rake in some profit off selling higher.
Ytterbium
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September 20, 2013, 08:35:38 AM
 #12376

This could be pretty brutal when the US wakes up.

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September 20, 2013, 08:35:51 AM
 #12377

There's still people buying the asks it seems... Just earned the spread of 10% with a small amount of shares (I hold no long term position in Labcoin, but like to play the higher-lower game).

Is it you who runs some bots on Labcoin? Like the one that doubles each ask and the other one that places 1/10 of each bid? Or the smallish orders that pop up once in a while? Wink

No, Labcoin I only do manually. My bot is fairly fresh and with me being fairly risk-averse, I am still thinking about good algorithms for highly volatile securities.
Vigil
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September 20, 2013, 08:36:31 AM
 #12378

This could be pretty brutal when the US wakes up.
Don't scare me any more than I already am.
FloatesMcgoates
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September 20, 2013, 08:37:47 AM
 #12379

This could be pretty brutal when the US wakes up.
Don't scare me any more than I already am.

If you cut losses now you might be able to get some back by getting in on the neobee IPO that is launching tomorrow
Bitcycle
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September 20, 2013, 08:38:35 AM
 #12380

I have a feeling this will bounce back up to .002 at least, but that is only because it has in the past. I figure those guys buying all these shares at .0015 and .0016 are going to want to rake in some profit off selling higher.

What  they want doesn't matter much. We all want to sell higher.   Grin
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