[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)

[AngelSky]

I wonder how much time TheSwede and Labcoin will spend online today without providing any update here...

All day long, as usual. Don't you know how this security works ?

And even if they come with some "news", what can they provide us? There is no more excuse now. They'd better to keep low profile and not say a word. At least the share price will stabilize one day.

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[abuelau]

So to recap what we know:

1) They do have some chips (as seen in pictures) however we don't know what those chips are and what they do
2) They do have some boards (as seen in pictures) however we don't know what they are and what they do
3) We do know they have been working on chips (because TheSeven confirmed). Most likely 130nm but for sure 65nm but it doesn't mean they are the ones in the pictures.
4) We think they have mined some coins (because that address TheSwede provided received coins that we know came from 2 different pools) but it suddenly stopped and we don't know why.
5) Besides the above, all we have are words from Labcoin promising that they have chips and boards and are hashing but having stability issues.

Does this summarize the facts?

[Ytterbium]

So to recap what we know:

1) They do have some chips (as seen in pictures) however we don't know what those chips are and what they do
2) They do have some boards (as seen in pictures) however we don't know what they are and what they do
3) We do know they have been working on chips (because TheSeven confirmed). Most likely 130nm but for sure 65nm but it doesn't mean they are the ones in the pictures.
4) We think they have mined some coins (because that address TheSwede provided received coins that we know came from 2 different pools) but it suddenly stopped and we don't know why.
5) Besides the above, all we have are words from Labcoin promising that they have chips and boards and are hashing but having stability issues.

Does this summarize the facts?

Yeah. And their hashrate is about 240Gh/s, which is about 3 avalons.

Also it's a public holiday in China and the Labcoin engineers are going to be off work until Sunday (so Saturday night in the US)

[AngelSky]

Can you please tell to the labcoin forum if yes or no labcoin main account moved shares these last days ?

This would be a big issue.

Thanks,
Cheers.

I've sent TheSwede75 a new request for an accounting of where the 3,000,000 held shares are.  I can see that most of them are held in a single account, but as stated before, not all of them.

Cheers.

STILL NO ANSWER ??

No, he didn't answer.  I've posted a warning on the asset.

Cheers.

So, can you tell me why he does not want to reply to burnside ?

[physalis]

I don't think they need to do photoshopping and 3d rendering. Even if they really don't have chips and boards, they could easily bought two chips and a couple of boards. It is cheaper, safer, and even faster.

By the way, arguing with this is meaningless. Those photos prove nothing anyway.

Exactly, which is why it's ridiculous to claim that they're 3D renderings or photoshops.  They're clearly not photoshops and it would be far more expensive to create a rendering like that then it would be to just, you know, have some boards made and pose them next to a tray of chips.

One more reason to be pissed at labcoin's fuckup. It validated all these total nutbar conspiracy theorists. 

Making some CG of flat board and chips is not more expensive than getting actual boards and chips, are you even serious?
What would have been difficult is making it convincing, making CG of assembled miners in a real life surrounding.
But, sure, whatever, fine, then it's not CG Then let it be real photos of nothing. What does that prove to you?

So just so I understand it correctly, you're still on the side that they're for real, and "just having some problems", right? Please, explain to me: Why?
Why can't you just take occam's razor and apply it? It's so easy. They're a complete and outright scam, from the ground up.

And you can be pissed about the fact that we are right, fine. It's understandable that you're angry.
But maybe you'll understand soon that we've just been trying to help and make you and all the others see through something that was becoming more and more of an obvious scam.
Maybe you should direct your anger towards the people that actually deserve it.

[abuelau]

So to recap what we know:

1) They do have some chips (as seen in pictures) however we don't know what those chips are and what they do
2) They do have some boards (as seen in pictures) however we don't know what they are and what they do
3) We do know they have been working on chips (because TheSeven confirmed). Most likely 130nm but for sure 65nm but it doesn't mean they are the ones in the pictures.
4) We think they have mined some coins (because that address TheSwede provided received coins that we know came from 2 different pools) but it suddenly stopped and we don't know why.
5) Besides the above, all we have are words from Labcoin promising that they have chips and boards and are hashing but having stability issues.

Does this summarize the facts?

Yeah. And their hashrate is about 240Gh/s, which is about 3 avalons.

Also it's a public holiday in China and the Labcoin engineers are going to be off work until Sunday (so Saturday night in the US)

Ok so if we accept those are the facts, on the possible scenarios of what is really happening, this is how I see things:

1) It's a scam, they don't even have chips, never intended to have and just bought some Avalons: 1% chance
2) They have chips and are mining but for their own profit: 5% chance
3) They have some working sample chips (10 or so), but are having production/delivery issues with the remaining chips: 30% chance
4) They have chips and are having technical issues: 50% chance
5) They have chips but there is some catastrophic flaw with them that can never be solved: 10%

[🏰 TradeFortress 🏰]

So to recap what we know:

1) They do have some chips (as seen in pictures) however we don't know what those chips are and what they do
2) They do have some boards (as seen in pictures) however we don't know what they are and what they do
3) We do know they have been working on chips (because TheSeven confirmed). Most likely 130nm but for sure 65nm but it doesn't mean they are the ones in the pictures.
4) We think they have mined some coins (because that address TheSwede provided received coins that we know came from 2 different pools) but it suddenly stopped and we don't know why.
5) Besides the above, all we have are words from Labcoin promising that they have chips and boards and are hashing but having stability issues.

Does this summarize the facts?

Yeah. And their hashrate is about 240Gh/s, which is about 3 avalons.

Also it's a public holiday in China and the Labcoin engineers are going to be off work until Sunday (so Saturday night in the US)

Ok so if we accept those are the facts, on the possible scenarios of what is really happening, this is how I see things:

1) It's a scam, they don't even have chips, never intended to have and just bought some Avalons: 1% chance
2) They have chips and are mining but for their own profit: 5% chance
3) They have some working sample chips (10 or so), but are having production/delivery issues with the remaining chips: 30% chance
4) They have chips and are having technical issues: 50% chance
5) They have chips but there is some catastrophic flaw with them that can never be solved: 10%

All of the above indicates they are dishonest. They claim to be mining with, 2 - 6 TH/s.

[VolanicEruptor]

So to recap what we know:

1) They do have some chips (as seen in pictures) however we don't know what those chips are and what they do
2) They do have some boards (as seen in pictures) however we don't know what they are and what they do
3) We do know they have been working on chips (because TheSeven confirmed). Most likely 130nm but for sure 65nm but it doesn't mean they are the ones in the pictures.
4) We think they have mined some coins (because that address TheSwede provided received coins that we know came from 2 different pools) but it suddenly stopped and we don't know why.
5) Besides the above, all we have are words from Labcoin promising that they have chips and boards and are hashing but having stability issues.

Does this summarize the facts?

Yeah. And their hashrate is about 240Gh/s, which is about 3 avalons.

Also it's a public holiday in China and the Labcoin engineers are going to be off work until Sunday (so Saturday night in the US)

Ok so if we accept those are the facts, on the possible scenarios of what is really happening, this is how I see things:

1) It's a scam, they don't even have chips, never intended to have and just bought some Avalons: 1% chance
2) They have chips and are mining but for their own profit: 5% chance
3) They have some working sample chips (10 or so), but are having production/delivery issues with the remaining chips: 30% chance
4) They have chips and are having technical issues: 50% chance
5) They have chips but there is some catastrophic flaw with them that can never be solved: 10%

 You are a probability genius.. can i get a spreadsheet plz

[Ytterbium]

aaaaaaand back to IPO price. I wish I'd bought more put options

[abuelau]

So to recap what we know:

1) They do have some chips (as seen in pictures) however we don't know what those chips are and what they do
2) They do have some boards (as seen in pictures) however we don't know what they are and what they do
3) We do know they have been working on chips (because TheSeven confirmed). Most likely 130nm but for sure 65nm but it doesn't mean they are the ones in the pictures.
4) We think they have mined some coins (because that address TheSwede provided received coins that we know came from 2 different pools) but it suddenly stopped and we don't know why.
5) Besides the above, all we have are words from Labcoin promising that they have chips and boards and are hashing but having stability issues.

Does this summarize the facts?

Yeah. And their hashrate is about 240Gh/s, which is about 3 avalons.

Also it's a public holiday in China and the Labcoin engineers are going to be off work until Sunday (so Saturday night in the US)

Ok so if we accept those are the facts, on the possible scenarios of what is really happening, this is how I see things:

1) It's a scam, they don't even have chips, never intended to have and just bought some Avalons: 1% chance
2) They have chips and are mining but for their own profit: 5% chance
3) They have some working sample chips (10 or so), but are having production/delivery issues with the remaining chips: 30% chance
4) They have chips and are having technical issues: 50% chance
5) They have chips but there is some catastrophic flaw with them that can never be solved: 10%

 You are a probability genius.. can i get a spreadsheet plz

6) Something else I didn't think of: 4%

[Bitcycle]

Ok so if we accept those are the facts, on the possible scenarios of what is really happening, this is how I see things:

1) It's a scam, they don't even have chips, never intended to have and just bought some Avalons: 1% chance
2) They have chips and are mining but for their own profit: 5% chance
3) They have some working sample chips (10 or so), but are having production/delivery issues with the remaining chips: 30% chance
4) They have chips and are having technical issues: 50% chance
5) They have chips but there is some catastrophic flaw with them that can never be solved: 10%

Pretty much agree with that breakdown and odds.

[AngelSky]

Market recap of these last 24 hours:

SHARES: 89'074 bought vs. 983'810 sold
BTC: 172 BTC bought vs. 1723 BTC sold

[abuelau]

So to recap what we know:

1) They do have some chips (as seen in pictures) however we don't know what those chips are and what they do
2) They do have some boards (as seen in pictures) however we don't know what they are and what they do
3) We do know they have been working on chips (because TheSeven confirmed). Most likely 130nm but for sure 65nm but it doesn't mean they are the ones in the pictures.
4) We think they have mined some coins (because that address TheSwede provided received coins that we know came from 2 different pools) but it suddenly stopped and we don't know why.
5) Besides the above, all we have are words from Labcoin promising that they have chips and boards and are hashing but having stability issues.

Does this summarize the facts?

Yeah. And their hashrate is about 240Gh/s, which is about 3 avalons.

Also it's a public holiday in China and the Labcoin engineers are going to be off work until Sunday (so Saturday night in the US)

Ok so if we accept those are the facts, on the possible scenarios of what is really happening, this is how I see things:

1) It's a scam, they don't even have chips, never intended to have and just bought some Avalons: 1% chance
2) They have chips and are mining but for their own profit: 5% chance
3) They have some working sample chips (10 or so), but are having production/delivery issues with the remaining chips: 30% chance
4) They have chips and are having technical issues: 50% chance
5) They have chips but there is some catastrophic flaw with them that can never be solved: 10%

All of the above indicates they are dishonest. They claim to be mining with, 2 - 6 TH/s.

Very likely but not necessarily! Easy to come up with a plausible scenario to explain this mess... there are hundreds of possibilities the only people that know for sure are Sam and their team. For example:

Imagine you are Sam. You wait 6 months for the day chips and boards arrive. You can't sleep for the last week. You really want to tell everyone you hit the nail in the head, 15/September is the deadline you set yourself 6 months ago.

The chips and boards arrive on the 14th. You team starts assembling them. Everyone spends the whole night trying to get it to work... suddenly: It's working!

You send a message to everyone saying "We are hashing with 2TH/s".

10 minutes later: board stops working.

Engineers get to it... make it work again.... but after 15 minutes stops working.

You speak with the lead engineer: he says he thinks he knows what the issue is and can get it fixed in 24 hours.

But 24 hours later.... still not working. Engineer asks for another 48 hours...

48 hours later... it's better. So you keep your promise... but after 12 hours working the board stops again and now the whole thing is fried, won't even turn back on.

Add to this some delivery/production issues (so you don't even have some spare chips yet to replace that) - the factory promised chips "in about 2 days" and have been delaying for a week already...

[Anotheranonlol]

1) It's a scam, they don't even have chips, never intended to have and just bought some Avalons: 1% chance
2) They have chips and are mining but for their own profit: 5% chance
3) They have some working sample chips (10 or so), but are having production/delivery issues with the remaining chips: 30% chance
4) They have chips and are having technical issues: 50% chance
5) They have chips but there is some catastrophic flaw with them that can never be solved: 10%

you can't just write arbitary 30%, 50% 10% and 5% of "they have chips...but" and write 1% that they don't have chips

[Rannasha]

1) It's a scam, they don't even have chips, never intended to have and just bought some Avalons: 1% chance
2) They have chips and are mining but for their own profit: 5% chance
3) They have some working sample chips (10 or so), but are having production/delivery issues with the remaining chips: 30% chance
4) They have chips and are having technical issues: 50% chance
5) They have chips but there is some catastrophic flaw with them that can never be solved: 10%

you can't just write arbitary 30%, 50% 10% and 5% of "they have chips...but" and write 1% that they don't have chips

Sure you can. It's called Bayesian statistics.

[AngelSky]

1) It's a scam, they don't even have chips, never intended to have and just bought some Avalons: 1% chance
2) They have chips and are mining but for their own profit: 5% chance
3) They have some working sample chips (10 or so), but are having production/delivery issues with the remaining chips: 30% chance
4) They have chips and are having technical issues: 50% chance
5) They have chips but there is some catastrophic flaw with them that can never be solved: 10%

you can't just write arbitary 30%, 50% 10% and 5% of "they have chips...but" and write 1% that they don't have chips

Sure you can. It's called Bayesian statistics.

You must be kidding..

[Rannasha]

1) It's a scam, they don't even have chips, never intended to have and just bought some Avalons: 1% chance
2) They have chips and are mining but for their own profit: 5% chance
3) They have some working sample chips (10 or so), but are having production/delivery issues with the remaining chips: 30% chance
4) They have chips and are having technical issues: 50% chance
5) They have chips but there is some catastrophic flaw with them that can never be solved: 10%

you can't just write arbitary 30%, 50% 10% and 5% of "they have chips...but" and write 1% that they don't have chips

Sure you can. It's called Bayesian statistics.

You must be kidding..

No, it's mostly me having a very low opinion of Bayesian statistics ^^

[AngelSky]

No, it's mostly me having a very low opinion of Bayesian statistics ^^

 

[Bitcycle]

No, it's mostly me having a very low opinion of Bayesian statistics ^^

Well, there's my actual laugh-out-loud today.

[Anotheranonlol]

You must be kidding..

i think he's trying to say it's subjective probability