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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1039735 times)
VolanicEruptor
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September 21, 2013, 01:25:06 AM
 #12861

It's still around 200-300GH. Consistent with the speed when it was in Slush's pool. Seems it was down when it was moved to BTCGuid for several hours, and was brought up  around 10 hours ago.

they are the 3 avalons they admitingly have, please stop this

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September 21, 2013, 01:34:21 AM
 #12862

It's still around 200-300GH. Consistent with the speed when it was in Slush's pool. Seems it was down when it was moved to BTCGuid for several hours, and was brought up  around 10 hours ago.

they are the 3 avalons they admitingly have, please stop this

Whatever it is, it's the only support of current price. I don't think they will or should stop it. Panic sell will hurt a lot people here. Really wish things turns to good slowly. Then even those who don't trust labcoin could leave in peace.
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September 21, 2013, 01:45:35 AM
 #12863

It's still around 200-300GH. Consistent with the speed when it was in Slush's pool. Seems it was down when it was moved to BTCGuid for several hours, and was brought up  around 10 hours ago.

they are the 3 avalons they admitingly have, please stop this

They only have two. I helped them sell one to a buyer in the US.
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September 21, 2013, 01:56:13 AM
 #12864

"WARNING -- There is a lot of controversy over the reliability of the operator of this asset. Please place your orders accordingly."

I am an exchange operator and this may be seen in poor view and many will disagree however the following is the personal opinion of myself as an investor in Labcoin.

As a Labcoin share holder who has not sold, I feel the message has done financial harm to Labcoin investors as it could easily be put on many asset's pages and has received special treatment never used before. (To the best of my knowledge)

Not to defend Labcoin's actions or justify the asset or argue that nothing should have been posted or done, just that it has carries suggestive implications without stating any facts.

This message carries no facts or merits of any kind and has only necessarily caused a form of market devaluation and manipulation.

In another thread it was mentioned being posted due to lack of response from the issuer.
If that is the case, please change the message to say that there is a lack of communicative response from the issuer to the exchange and not that there is "a lot of controversy".
As to weather posting the facts of a lack of communication would have caused the exact same devaluation, this can no longer be proven now and may potentially have had a much smaller impact.
There is a lot of controversy on many many many assets. Just because one is in the spotlight more does not mean the exchange needs spotlight it as well without stating any facts.

The immediate price drop of the asset following the posting of the speculative non-factual suggestive message (regardless of any potential issues with the asset) has cost investors thousands of bitcoins in losses by the message.

10,000,000 shares and a trade price of about 0.0025 btc per share at the time prior to posting having a roughly 25,000 valuation dropping to 0.0015 15,000 valuation.

Again, regardless of if there is the controversy or not, the exchange should not be posting non-factual information that could cause potential changes to the market value of an asset.
This is akin to the exchange posting a message similar to "Many users expect this asset to do very well. Place your orders accordingly."

The site already reminds users to be careful with their investments.

I do not like to see people get scammed, I think there are many potential actions from an exchange point of view.
I do not think causing already concerned investors massive losses by spreading controversy is one of them.

Speeding up potential drops in valuation is not within the scope of an exchange protecting it's investors or in the investors best interest.
Halting trade on an asset if there is a factual proven issue (or even extreme lack of communications between issuer and exchange) is within scope of investor protection.
The job of the exchange is to protect investors and offer a reliable service.
Who protected investors from the price drop ensued by the relay of non-factual "controversy" by the exchange?

Feel free to flame me for the message. I fully expect it from some. I may be very wrong and I do not intent to make a continued argument over it.
I am just stating an opinion that has been bugging me all day that I wanted to share.
As one of the already aforementioned concerned investors, I feel that this only made things worse and should at least be corrected.

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dhenson
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September 21, 2013, 02:00:02 AM
 #12865

+1

I was completely shocked when I saw the warning.  I do not feel that burnside did it with mal-intent, but I do feel it should be removed.
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September 21, 2013, 02:01:25 AM
 #12866

+1. I too have not sold my shares and don't feel that any extra warnings are unnecessary.

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September 21, 2013, 02:01:33 AM
 #12867

+1 Been holding sense day 1, still have know doubt, communication could be better, but to many fuders any way
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September 21, 2013, 02:02:52 AM
 #12868

The whole Avalon thing is the dumbest thing in the world.  If it was true Avalons would of been mining right away as they all easily work with pools, but again you 3rd world country folk have malnutritioned brains.
szmarco
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September 21, 2013, 02:02:54 AM
 #12869

Ukyo,I 1000% agree with you. Burnside has crossed the line. It's not fair.
Ukyo
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September 21, 2013, 02:03:26 AM
 #12870

+1
I was completely shocked when I saw the warning.  I do not feel that burnside did it with mal-intent, but I do feel it should be removed.

I do agree that I believe Bunrside has no ill intentions towards users.

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JohnyBigs
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September 21, 2013, 02:06:38 AM
 #12871

Yeah its completely retarded, that warning can be put on every security on there including ASICminer its completely ridiculous, I hope you all message him personally. Completely uncalled for. The fact that it was posted along with all the FUD makes me feel better about this security. A very good contrarian indicator.
Vigil
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September 21, 2013, 02:08:52 AM
 #12872

Whether Burnside intended it or not he exacerbated the sell-off.
szmarco
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September 21, 2013, 02:09:09 AM
 #12873

Yeah its completely retarded, that warning can be put on every security on there including ASICminer its completely ridiculous, I hope you all message him personally. Completely uncalled for. The fact that it was posted along with all the FUD makes me feel better about this security. A very good contrarian indicator.
I have sent one 2 minutes ago. WTF!
Ukyo
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September 21, 2013, 02:10:15 AM
 #12874

On another note, another 0.2 BTC has made it's way to the account.

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September 21, 2013, 02:10:17 AM
 #12875

So, I guess "today" really did mean tomorrow for Labcoin's message.
Luckybit
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September 21, 2013, 02:11:14 AM
 #12876

"WARNING -- There is a lot of controversy over the reliability of the operator of this asset. Please place your orders accordingly."

I am an exchange operator and this may be seen in poor view and many will disagree however the following is the personal opinion of myself as an investor in Labcoin.

As a Labcoin share holder who has not sold, I feel the message has done financial harm to Labcoin investors as it could easily be put on many asset's pages and has received special treatment never used before. (To the best of my knowledge)

Not to defend Labcoin's actions or justify the asset or argue that nothing should have been posted or done, just that it has carries suggestive implications without stating any facts.

This message carries no facts or merits of any kind and has only necessarily caused a form of market devaluation and manipulation.

In another thread it was mentioned being posted due to lack of response from the issuer.
If that is the case, please change the message to say that there is a lack of communicative response from the issuer to the exchange and not that there is "a lot of controversy".
As to weather posting the facts of a lack of communication would have caused the exact same devaluation, this can no longer be proven now and may potentially have had a much smaller impact.
There is a lot of controversy on many many many assets. Just because one is in the spotlight more does not mean the exchange needs spotlight it as well without stating any facts.

The immediate price drop of the asset following the posting of the speculative non-factual suggestive message (regardless of any potential issues with the asset) has cost investors thousands of bitcoins in losses by the message.

10,000,000 shares and a trade price of about 0.0025 btc per share at the time prior to posting having a roughly 25,000 valuation dropping to 0.0015 15,000 valuation.

Again, regardless of if there is the controversy or not, the exchange should not be posting non-factual information that could cause potential changes to the market value of an asset.
This is akin to the exchange posting a message similar to "Many users expect this asset to do very well. Place your orders accordingly."

The site already reminds users to be careful with their investments.

I do not like to see people get scammed, I think there are many potential actions from an exchange point of view.
I do not think causing already concerned investors massive losses by spreading controversy is one of them.

Speeding up potential drops in valuation is not within the scope of an exchange protecting it's investors or in the investors best interest.
Halting trade on an asset if there is a factual proven issue (or even extreme lack of communications between issuer and exchange) is within scope of investor protection.
The job of the exchange is to protect investors and offer a reliable service.
Who protected investors from the price drop ensued by the relay of non-factual "controversy" by the exchange?

Feel free to flame me for the message. I fully expect it from some. I may be very wrong and I do not intent to make a continued argument over it.
I am just stating an opinion that has been bugging me all day that I wanted to share.
As one of the already aforementioned concerned investors, I feel that this only made things worse and should at least be corrected.


Why complain? Just buy cheap shares and increase your position as a long term shareholder. If you're trying to day trade then that message is for you.
Ytterbium
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September 21, 2013, 02:13:45 AM
 #12877

Okay, another payment.  This time 0.2 for 3 hours of work.  That's definitely more then 3 Avalon.  In fact, it's 4.8, or about 400Gh/s.

So new hashrate estimate is 400Gh/s.  I think my prior one was off, it should have been averaged over several hours, not just one.

But 400Gh/s is the new baseline, as far as I can tell.

Ukyo
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September 21, 2013, 02:17:33 AM
 #12878

Okay, another payment.  This time 0.2 for 3 hours of work.  That's definitely more then 3 Avalon.  In fact, it's 4.8, or about 400Gh/s.

So new hashrate estimate is 400Gh/s.  I think my prior one was off, it should have been averaged over several hours, not just one.

But 400Gh/s is the new baseline, as far as I can tell.

Assuming someone else has not lost quite a bit of value recently and thought it may be more fruitful to point their miners at the address as well.
A few parts of a btc from enough miners can add up, increase share price since no one is confirming or denying and then they can sell off and not be at such a loss.

Wonder how much better it would make labcoin look if I pointed my avalons? (I will not.)
This is just my point.

Though, I am curious if the pool would send multiple payments to the same address at the same time or sum them into one payment if this was done.

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Ytterbium
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September 21, 2013, 02:18:15 AM
 #12879

Where's our update? Any explanation as to why mining output is so low?

People thought they might be mining with the 3 Avalons that one of them had, or it was possible that someone might be sending their BTCGuild payments to their address to pump the price up. Except, they'd need to have a ton of hash power to keep doing it.

Up until now it did look like their hashrate was consistent with the 3 avalon theory, but this latest one is equivalent to 4.8 Avalons.  We still can't say for sure, but it's looking less likely.   We also can't rule out the 'outsider sending his payments to pump the price' theory. But the longer these payments go on, the less likely that is, and the more hash power that person would need to have.

They're up to 5.87 BTC right now. So, while it would be possible to make that much flipping the stock with the crazy fluxuations lately, it's less likely.

Still, I'm not suggesting anyone buy this stock with anything other then money they feel like gambling.  I would still consider it extremely high risk at this point.

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September 21, 2013, 02:22:06 AM
 #12880

Ukyo you are wrong here, Labcoin should not only have a warning attached, it should be delisted entirely. They used burnside's platform to lie to investors. No exaggeration, they lied and deceived, and no one can debate that. Why is that okay with no consequences? This stock has done great damage to btct's reputation.
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