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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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BitCsByBit
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September 22, 2013, 11:02:35 AM |
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Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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bobboooiie
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September 22, 2013, 11:04:09 AM |
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>25 labcoin 643.39 GH/s
Guess there's a reset and labcoin's doing PPLNS.
A changing hashrate is some sort of good news. Bitfury or avalons hash at the almost the same speed 24/7. So they must use their own chips that have a little, but solvable problem?! I wish they addressed this "resetting chips" as it appears to be real -_- |
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bitwhizz
Legendary
 Offline
Activity: 910
Merit: 1000
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September 22, 2013, 11:04:15 AM |
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As a shareholder ,WOOOOOOOHOOOOOO!!  |
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Ytterbium
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September 22, 2013, 11:08:16 AM |
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Can someone let me in on what happened?
How far back do you want to go? Basically a couple days ago TheSwede posted an address where their mining results would go. Then after 24 hours nothing, and the price started to drop. Then Burnside posted a warning. Then we got a little bit of btc trickling in, equivalent to the 3 avalons that one of the members of the company owned, and the price continued to drop and there were some 100k+ share dumps down to 0.0011 or so. Then, we started seeing more hashing, more then 200Gh/s, and the price started going back up. It got to around 400Gh/s based on the payout. Then TheSwede posted they were up to 800Gh/s and team "Labcoin" showed up on BTCGuild's top 25. The price went back up to about 0.0027 Then, burnside posted a dire warning on the trading page: "WARNING -- This asset has been flagged for potential violation of their Stockholder Agreement. Please place your orders accordingly." with no explanation, and the price dropped to about 0.002 again. Then, burnside posted that it was about the share locking issue and updated the warning to link to his post (which you can see now). The price recovered to about 0.0025, but since then has dropped back to 0.002. |
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BitCsByBit
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September 22, 2013, 11:11:55 AM |
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>25 labcoin 643.39 GH/s
Guess there's a reset and labcoin's doing PPLNS.
A changing hashrate is some sort of good news. Bitfury or avalons hash at the almost the same speed 24/7. So they must use their own chips that have a little, but solvable problem?! I wish they addressed this "resetting chips" as it appears to be real -_- Probably a software issue which can be solved as you go. Also, the hash rate in mining farms will always have 20 +/- variance. |
Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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BitThink
Legendary
Offline
Activity: 882
Merit: 1000
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September 22, 2013, 11:13:10 AM |
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What happened? The price has dropped a lot.
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gramma
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September 22, 2013, 11:15:25 AM |
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"The dividends paid will consist of between 70-80% all profits while 20-30% of profits will be held as a reinvestment fund for development, marketing and manufacturing."
I assume costs will be done from that percentage..
Costs will be done before you get to those percentages. Profit = Revenue - Cost. Of course, the devil is in the details of how "Cost" is determined. Depending on how they play it, Cost could be a number that sucks up much of the revenues. Then out of what's left, 20%-30% will be retained. THEN come dividends. There can be devilish details with Revenue as well. I am assuming here that they are doing revenue on a simple cash basis. It gets trickier if they don't. |
BTC: 1MrNRPo7p8DEyxn87c9BCGwrbatBQeCHc1
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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September 22, 2013, 11:22:43 AM |
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Seems your brain is made in USA. Good people vs. Bad people. I won't comment any further your posts, there is nothing to say.
Please take your USA envy and GFY. Keep it up Labcoin! @Angelsky STFU nazi |
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klee
Legendary
Offline
Activity: 1498
Merit: 1000
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September 22, 2013, 11:27:13 AM |
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I was joking oh, I know, I was just wondering if you knew where the other TH/s went? did they disappear? They were having problems if you failed to read their prior updates FUDer. Now its coming back online after the issues have been resolved. Thanks for being here to protect us against a scam. Now that they clearly have shown its not a scam, you can leave and stop spreading FUD. Afterall that was the only reason you are here to protect us right? Seems your brain is made in USA. Good people vs. Bad people. I won't comment any further your posts, there is nothing to say. No my Brain was made in Europe, it doesn't matter where it was made it's not hard to use it, unless it suffers from severe underdevelopment. Ha! Another jealous Euro-bigot talks crap about America and gets shit all over his face. Nice one AnalSky. LMAO he is a pussy Swiss - they gave ass to nazis! AnalSky LMAO |
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Puppet
Legendary
Offline
Activity: 980
Merit: 1040
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September 22, 2013, 11:41:40 AM |
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The lack of critical thinking and gullibility of people on this forum never ceases to amaze me. No wonder so many bitcoin cons are successful. Its not just that btc payments are irreversible and pseudonymous, thats certainly useful for a con, but its that you dont have to put in any effort at all. Just get the ball rolling with some vague story and promises of future fortunes and from then on, you can count on the community to come up with far better theories, excuses and fables then you could possibly think of as a scammer. Ask Pirate.
Now Im not saying Im positive this is a scam, but there is an overwhelming absence of evidence that would demonstrate the opposite.
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ShroomsKit
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September 22, 2013, 11:44:23 AM |
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OH comon swede, is it that hard for them to put a picture of rig hashing ?
Obviously extremely hard. I would even say impossible. |
Its price is not a very relevant factor in its adoption....
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TMAN
Legendary
Offline
Activity: 1414
Merit: 1808
Exchange Bitcoin quickly-https://blockchain.com.do
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September 22, 2013, 11:50:39 AM |
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OH comon swede, is it that hard for them to put a picture of rig hashing ?
Obviously extremely hard. I would even say impossible. they said that pictures cause more harm than good. the hash rate is all that matters - as soon as that gets over 2TH then this stock will fly. |
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Ytterbium
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September 22, 2013, 11:51:57 AM |
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Now Im not saying Im positive this is a scam, but there is an overwhelming absence of evidence that would demonstrate the opposite.
Who cares what you think? People have bleating "it's a scam!!!!" since the beginning. Clearly some people think think it is, others think it isn't, and some people think the risk is outweighed by the potential profits if it's not. It's likely they're having some technical difficulties, which are being worked out. The share price is far lower then it would be otherwise. |
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TMAN
Legendary
Offline
Activity: 1414
Merit: 1808
Exchange Bitcoin quickly-https://blockchain.com.do
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September 22, 2013, 11:55:26 AM |
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OH comon swede, is it that hard for them to put a picture of rig hashing ?
Obviously extremely hard. I would even say impossible. they said that pictures cause more harm than good. the hash rate is all that matters - as soon as that gets over 2TH then this stock will fly. they said that pictures cause more harm than good
yes "they are looking out for the best interests of shareholders" by not pulling out an iphone and uploading 10 sec video of these babies hashing away, blinking LED's and solving blocks...it would scare investors away, initiate a panic sell...  behave yourself because the units are probably rough as f*ck, and the fud spreaders here will destroy the pictures or video. The hashrate will do the talking! |
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wickedgoodtrader
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September 22, 2013, 11:57:34 AM |
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I think it's funny that the swede who has had such a hard time contacting his team because they are in china and what not, also knows how many shares they still have in their accounts. I still don't believe these people even exist though.
It would be extremely simple to prove they still have the shares yet they don't do it, and this has been an issue for a LONG time that they have blatantly ignored until the recent warning. Just like it would be extremely simple to take a picture of their machines, yet they don't. Once again, GET A FUCKING CLUE!
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Ytterbium
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September 22, 2013, 12:06:23 PM |
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OH comon swede, is it that hard for them to put a picture of rig hashing ?
Obviously extremely hard. I would even say impossible. they said that pictures cause more harm than good. the hash rate is all that matters - as soon as that gets over 2TH then this stock will fly. they said that pictures cause more harm than good
yes "they are looking out for the best interests of shareholders" by not pulling out an iphone and uploading 10 sec video of these babies hashing away, blinking LED's and solving blocks...it would scare investors away, initiate a panic sell... behave yourself because the units are probably rough as f*ck, and the fud spreaders here will destroy the pictures or video. The hashrate will do the talking! They should ignore the haters. They're going to spread nonsense no matter what. Reacting to them just means giving them more control. |
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VolanicEruptor
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September 22, 2013, 12:08:10 PM |
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OH comon swede, is it that hard for them to put a picture of rig hashing ?
Obviously extremely hard. I would even say impossible. they said that pictures cause more harm than good. the hash rate is all that matters - as soon as that gets over 2TH then this stock will fly. they said that pictures cause more harm than good
yes "they are looking out for the best interests of shareholders" by not pulling out an iphone and uploading 10 sec video of these babies hashing away, blinking LED's and solving blocks...it would scare investors away, initiate a panic sell... behave yourself because the units are probably rough as f*ck, and the fud spreaders here will destroy the pictures or video. The hashrate will do the talking!  |
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TMAN
Legendary
Offline
Activity: 1414
Merit: 1808
Exchange Bitcoin quickly-https://blockchain.com.do
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September 22, 2013, 12:11:05 PM |
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back up to 771.21 GH/s now.
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Puppet
Legendary
Offline
Activity: 980
Merit: 1040
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September 22, 2013, 12:18:10 PM |
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I still don't believe these people even exist though. TheSeven exists. He is just not doing anything important for labcoin. Im even willing to believe "howard wang" also exists (well, countless of them exist, its like the chinese John Doe), even though I cant find anyone on linkedin that would be a match. What is clear the two arent even talking to each other, so how that constitutes a team is beyond me. Here is my guess; the Howard Wang story may well be accurate. Its certainly feasible someone at a university would have access to the equipment and tools needed to make a rudimentary bitcoin asic on an old 130nm process and come up with a design in his free time. Upon learning about that, theswede set out to capitalize on that and launched his IPO. 130nm asics arent very profitable, so he invented a "Rev2" to make his IPO look more lucrative. The 65nm chip cant possibly be made by Howard wang because his university doesnt have a 65nm fab. Now the 130nm "hobby asic" isnt working, no one is pouring in the resources needed to make it work (assuming the problems are even fixable), still seems a one person venture. So theswede used his IPO money to buy some off the shelve hardware, be it avalon and/or bitfurry and is now claiming thats his 130nm chip. Actually, he isnt even claiming that, he is merely inferring it and lets others draw that conclusion. To keep up the charade of a future rev2 65nm chip, he contracted 7 and asked him to do some work on it. 7 is apparently only working on the chip IO HDL, but doesnt know what process will be used, doesnt know who if anyone is actually designing the hashing engine, doesnt think he himself is up to the job, didnt even know there was a dysfunctional rev1 and doesnt seem very convinced this 65nm chip will ever materialize. But now that some avalons/BF's are hashing, somehow people believe that this is a goldmine. Best of luck folks. |
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