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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
Vigil
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September 20, 2013, 08:12:24 AM
 #12361

This Labcoin thing pisses me off though. I had made some good return here and the recent swings have taken a lot of it from me. I should have just taken what I had and run with it.

Shouldn't Labcoin be on here soon to get the prices back up so all those guys who bought at .0016 can get their 50% gains?
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BitThink
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September 20, 2013, 08:14:02 AM
 #12362

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.  

No, I don't think the price will drop to 0.00091 in 7 days. Even there's no mining income, as long as people still believe labcoin will bring 500TH (2-gen chips) by the end of this year, the share price will be still above 0.001, the IPO price. Actually, the failure of 1-gen chips itself will not completely kill this project, cause it at most halves the potential reward. The failure will kill this project only because it severely hurts the creditability of the Labcoin team. They may have no way to make the 1-gen chips work, but they can still rescue their credibility in the coming 7 days, by just be a man, stand up and explain everything happened.

Idk how people can believe anything labcoin says when they put out a definitive statement like this:


and have it be completely untrue. It appears as though generation 1 has failed completely.

They just need to admit the chips worked initially, and then they found them cannot work stably. They've spent 2 weeks try to fix the problem and still trying their best, but the result is not predictable yet. They are looking for other methods to compensate the investors, meanwhile the 2-gen chips R&D moves smoothly, and working chips are expected by the end of October. Deploying 500TH by the end of December is still on the plan.
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September 20, 2013, 08:17:27 AM
 #12363

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.

FloatesMcgoates
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September 20, 2013, 08:17:43 AM
 #12364

There goes the support at .0016, lets see how long .0015 will hold up, probably not long.
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September 20, 2013, 08:20:55 AM
 #12365

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
 #12366

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
 #12367

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
 #12368

Should I panic sell? Smiley But seriously.
runam0k
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September 20, 2013, 08:23:31 AM
 #12369

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
 #12370

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
 #12371

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
Vigil
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September 20, 2013, 08:28:22 AM
 #12372

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.
Rannasha
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September 20, 2013, 08:29:50 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).
Vigil
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September 20, 2013, 08:31:46 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).
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
 #12375

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
 #12376

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
 #12377

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
 #12378

This could be pretty brutal when the US wakes up.

Rannasha
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September 20, 2013, 08:35:51 AM
 #12379

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
 #12380

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