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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1042223 times)
AngelSky
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September 20, 2013, 02:08:15 PM
 #12521

Just one update of substance from Labcoin and it's back on. Grin

You are in a "hope" mode. Don't forget to listen to the market sometimes.
Nah, I was responding to Rulother. Like him, I am already out.

My bad. Any idea where to invest now ?

I'm seriously considering PETA.  It can't be worse than this... Plus they will be hashing next week I think ?

I need to read up on what's going on with them

Please, pm me if you find something reliable.

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BitCsByBit
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September 20, 2013, 02:08:35 PM
 #12522

Disclosure: It is late Friday night here and I've just had a few cold beverages while watching a comedy show.

In saying that, this just as fucken comical. The average IQ of people participating in this thread is bloody scary.

A bunch of FUDsters scaring everyone and a bunch of people acting hysterical and running around like a bunch of girls panicking with their arms up.

I don't even know why I read this thread any more, and I am ashamed to admit that I've read every single post in this thread, the speculation thread and the original Labcoin thread way before the IPO. This thread has amounted to hundred's of pages of crap with people consistently repeating themselves adding very little value to the general discussion. Why?!

There are so many concerned people on this thread that apparently have no interest in Labcoin, and yet they are spending hours on hours advising others not to invest because it is a scam.

It might of interest to some of you that a majority of "whales" do not even bother reading this thread and I now understand why.

State your point and fucken move on!!!

A vast majority of public shareholders (around 80%) have not traded their shares since the IPO, and the day traders and the shareholders who have invested in competing securities are causing most of the havoc and making the loudest noise.

It is pretty straight forward:
- Do your risk assessment and invest accordingly.
- Do not invest what you can't afford to lose.
- If you are not invested, stay the fuck out.


Plain and simple!

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Zakryze
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September 20, 2013, 02:13:25 PM
 #12523

ok i bought 1 share. may i be concerned about this security now?

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velacreations
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September 20, 2013, 02:14:32 PM
 #12524

what did I miss?

BitThink
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September 20, 2013, 02:15:48 PM
 #12525

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...

Great, almost think you are 'labcoin' himself if you don't have such a high activity Smiley

Yes, exactly what I think. This is the only explanation if bitcoin is not a liar, and it's already the best scenario. So now in the best scenario, no hashing until November.
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September 20, 2013, 02:15:57 PM
 #12526

what did I miss?
i bought back in! 1 share.... TO THE MOON!
Edit: the swede is on holiday in china too obviously.

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velacreations
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September 20, 2013, 02:16:20 PM
 #12527

A vast majority of public shareholders (around 80%) have not traded their shares since the IPO
how did you come to this figure?  7 day volume is 4.3M

boyohi
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September 20, 2013, 02:17:43 PM
 #12528

What! It has only been a day and we're already at the moon! Amazing company!!!
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September 20, 2013, 02:21:31 PM
 #12529


So? Someone bought a shitload of shares at 001 and directed his mining output to this adress. Smart move, a handfull of monkeys are following.
BitCsByBit
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September 20, 2013, 02:21:45 PM
 #12530

A vast majority of public shareholders (around 80%) have not traded their shares since the IPO
how did you come to this figure?  7 day volume is 4.3M

7 day volume is 4.3M but same shares got traded more than couple of times.

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DaSheep
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September 20, 2013, 02:22:28 PM
 #12531



lul

"That’s all I know."
velacreations
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September 20, 2013, 02:22:52 PM
 #12532


trollers gonna troll

velacreations
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September 20, 2013, 02:23:36 PM
 #12533

A vast majority of public shareholders (around 80%) have not traded their shares since the IPO
how did you come to this figure?  7 day volume is 4.3M

7 day volume is 4.3M but same shares got traded more than couple of times.
how do you know that?

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September 20, 2013, 02:23:45 PM
 #12534

Sucker rally time? Cheesy

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September 20, 2013, 02:27:15 PM
 #12535

Lol.  0.5BTC!? 21 hours since their last payment.

Last payment was at 2013-09-19 17:17:18, this one was at  2013-09-20 14:17:20.  

That's barely even ONE Avalon, let alone 3.

If this really is Labcoin then, yeah... not good Tongue

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September 20, 2013, 02:29:16 PM
 #12536

dividends 52 satoshi and rising. sounds legit! just wait 3 months and we'll all be rich!

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BitCsByBit
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September 20, 2013, 02:29:22 PM
 #12537

A vast majority of public shareholders (around 80%) have not traded their shares since the IPO
how did you come to this figure?  7 day volume is 4.3M

7 day volume is 4.3M but same shares got traded more than couple of times.
how do you know that?

We can discuss it once you stop trolling and have balls to invest into anything else but AM.

Also, you do realise that friedcat has not addressed his shareholders in a very long time and that the AM dividends are at the all time low?!

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MaxSan
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September 20, 2013, 02:29:28 PM
 #12538

Lol.  0.5BTC!? 21 hours since their last payment.

Last payment was at 2013-09-19 17:17:18, this one was at  2013-09-20 14:17:20. 

That's barely even ONE Avalon, let alone 3.

If this really is Labcoin then, yeah... not good Tongue

This is true but if they are still hashing (even at a reduced rate) it gives hope that the chips are actually working and they are stable. The question then is how long does it take to actually scale up?

Then again its probabaly a troll and we are wasting our time even discussing it lol
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September 20, 2013, 02:30:00 PM
 #12539

Coins were generated by BTCGuild, likely these: https://blockchain.info/tx/f978e725d8db9b74104305676339e1d18a35b6935f6b1fff6544d7c1e10d5788

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September 20, 2013, 02:33:02 PM
 #12540

Actually there was a big buy that came in on BTC-TC that took the ask price all the way up from  0.001185 to  0.001455 just a few minutes before that TX came in. 

So it's likely whoever bought knew the transaction was coming in.

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