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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
BitThink
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September 24, 2013, 08:27:23 AM
 #14041


correction: 796 has very high withdraw fees.


Screw them, then.

They also have a very awkward interface.

I see.  I'm not very familiar with them at all, other then that they have some kind of HK license for dealing with money. I think bitfunder is the way to go. Being listed on 796 could give us some extra protection, plus being on multiple exchanges would make things much easier for people, especially if there was a way to transfer shares.
That license only at best make their BTC exchange legal. Not a license will protect security exchange, which is almost impossible to be completely legal in my opinion.

It depends on the local laws. Some countries are extremely lax when it comes to banking regulation.

Yes, agree. But security exchange is out of the scope of banking, I think. So coinbase is fine but btct is not. In china, btcchina is fine, but both btc garden and myminer have to cancel their IPO. I don't know the law in HongKong, but most likely that license is just for normal currency exchange, at most some unit trust distribution, not for running a stock market let alone withunregulated virtual stocks.

But anyway, more exchanges are fine. Most people will just stick to one anyway, others are all just backups.
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MaxSan
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September 24, 2013, 08:38:33 AM
 #14042


correction: 796 has very high withdraw fees.


Screw them, then.

They also have a very awkward interface.

I see.  I'm not very familiar with them at all, other then that they have some kind of HK license for dealing with money. I think bitfunder is the way to go. Being listed on 796 could give us some extra protection, plus being on multiple exchanges would make things much easier for people, especially if there was a way to transfer shares.
That license only at best make their BTC exchange legal. Not a license will protect security exchange, which is almost impossible to be completely legal in my opinion.

TOR + namecoin.

Go dark or go home.


pretty sure there already is TorStocks or something similar
KCBitcoin
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September 24, 2013, 08:40:23 AM
 #14043


correction: 796 has very high withdraw fees.


Screw them, then.

They also have a very awkward interface.

I see.  I'm not very familiar with them at all, other then that they have some kind of HK license for dealing with money. I think bitfunder is the way to go. Being listed on 796 could give us some extra protection, plus being on multiple exchanges would make things much easier for people, especially if there was a way to transfer shares.
That license only at best make their BTC exchange legal. Not a license will protect security exchange, which is almost impossible to be completely legal in my opinion.

TOR + namecoin.

Go dark or go home.



pretty sure there already is TorStocks or something similar
can u plz not quoting him? ty.
MaxSan
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September 24, 2013, 08:48:17 AM
 #14044

Quote
can u plz not quoting him? ty.

I have this thing called a bullshit filter where I internally ignore people who spout rubish. Thankfully I dont need an ignore list so when someone who is ignored by many people actually says something which is not troublesome I see it and can respond. I think many people on this forum require this. Its called intuition.

But in all seroiusness. If its a valid comment whats the harm in quoting someone. Its not like I have a detailed list of everyone on *your* ignore list...
iCEBREAKER
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September 24, 2013, 09:01:04 AM
 #14045

Quote
can u plz not quoting him? ty.

I have this thing called a bullshit filter where I internally ignore people who spout rubish. Thankfully I dont need an ignore list so when someone who is ignored by many people actually says something which is not troublesome I see it and can respond. I think many people on this forum require this. Its called intuition.

But in all seroiusness. If its a valid comment whats the harm in quoting someone. Its not like I have a detailed list of everyone on *your* ignore list...

For 'special' people like KNB, life is about personalities, gossip, feuds, and shunning.

For intelligent Bitcoiny types, we have humor, facts, logic, and free inquiry.  Plus cookies!


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Bitcycle
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September 24, 2013, 09:33:04 AM
 #14046



The sooner a new exchange is determined the better.  Share value and trust in Labcoin will remain low until that problem is resolved. 

Many securities have already begun their move.

Ideally this process can be well under way if not completed by the time trading halts on BTCT.  It deserves the strongest possible efforts from the team.

Direct shares is the least preferable option, by far.  Greatly reduced liquidity and thus greatly reduced share value.  It works for AM primarily because of the passthroughs, so if you MUST go with direct shares (only as a last resort), please work to establish passthroughs ASAP. Of course, you'll end up with most of the same issues as listing on the exchange, so you might as well list on the exchange.
Bitcycle
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September 24, 2013, 09:43:12 AM
 #14047



While I am not confident in giving exact figures I can say that the team will be (and is) testing and bringing more miners online on a daily basis.

It would be a great boost to shareholder confidence to actually see this reflected in the numbers on btcguild's ranking.

If you think it would hurt to see the rate from new miners vary, I can assure you it hurts you more to not see it at all.
abuelau
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September 24, 2013, 09:50:36 AM
 #14048



While I am not confident in giving exact figures I can say that the team will be (and is) testing and bringing more miners online on a daily basis.

It would be a great boost to shareholder confidence to actually see this reflected in the numbers on btcguild's ranking.

If you think it would hurt to see the rate from new miners vary, I can assure you it hurts you more to not see it at all.


+1000.

And it looks like Labcoin is out of the chart in BTCGuild now....

Know what's happening in cryptoworld: www.coinschedule.com
Zubilica
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September 24, 2013, 09:58:20 AM
 #14049

well , no more Labcoin in BTC Guild charts, i'm hoping to see ~1,4TH/s on restart.

kingcrimson
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September 24, 2013, 09:58:58 AM
 #14050

Is there any real argument against bitfunder? It is a no brainer to list there.
BitThink
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September 24, 2013, 09:59:20 AM
 #14051

Hopefully it is temporary down for merging new batches.
BitThink
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September 24, 2013, 10:02:21 AM
 #14052

Is there any real argument against bitfunder? It is a no brainer to list there.

Ukyo said bitfunder has very strict rule in selecting asset. So it is not like where to list is completely decided by the issuer. Labcoin will bring high volume, but in the same time a high risk.
NineLives
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September 24, 2013, 10:05:13 AM
 #14053

This is not a real update on anything that concerns the future of Labcoin but I figure sometimes just showing up is a good thing.

Me and Sam have been in close contact today and we are evaluating marketplaces for listing. So far we are looking at any possibilities including havelock (that already have a pass through listed), Bitfunder and even 796 (a Hong Kong based exchange), as well as running the shares as "direct shares" as per the ASICMINER model.

We are aware that the up coming closure of BTCT is a major event and besides hash rate increase this is something that we are working on finding the best possible solution to.

As the process matures we will post more information and likely ask for share holder input on listing place etc. we are however very confident that Burnside has records of share holders and holding as we will be making a decision on a new marketplace well in time before the final closure of BTCT.co.

A motion on BTCT or a poll of some sort would be nice to decide on where to move.

Thanks for the short update.

Bitcoin Mining Hardware:   www.mininghardware.co.uk
Bitcycle
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September 24, 2013, 10:05:55 AM
 #14054

well , no more Labcoin in BTC Guild charts, i'm hoping to see ~1,4TH/s on restart.

Looks like that was the last straw for someone.  About 60k shares dumped at once.
Zubilica
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September 24, 2013, 10:08:42 AM
 #14055

well , no more Labcoin in BTC Guild charts, i'm hoping to see ~1,4TH/s on restart.

Looks like that was the last straw for someone.  About 60k shares dumped at once.

 i just love panic sell , if i had any BTC left to reinvest

LE. back to 0.1 BTC incoming from pool

drawingthesun
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September 24, 2013, 10:09:55 AM
 #14056

Is there any real argument against bitfunder? It is a no brainer to list there.

Ukyo said bitfunder has very strict rule in selecting asset. So it is not like where to list is completely decided by the issuer. Labcoin will bring high volume, but in the same time a high risk.

Ukyo has spent more on lawyers than he has made from his site, and if Labcoin was the catalyst for BTCT.co closing down I am sure Ukyo might think twice.

In my opinion Ukyo has nothing to worry about, Labcoin have proven themselves trustworthy.
ltiv
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September 24, 2013, 10:16:14 AM
 #14057

Is there any real argument against bitfunder? It is a no brainer to list there.

Ukyo said bitfunder has very strict rule in selecting asset. So it is not like where to list is completely decided by the issuer. Labcoin will bring high volume, but in the same time a high risk.

Ukyo has spent more on lawyers than he has made from his site, and if Labcoin was the catalyst for BTCT.co closing down I am sure Ukyo might think twice.

In my opinion Ukyo has nothing to worry about, Labcoin have proven themselves trustworthy.

I doubt Labcoin was the catalyst for anything but their share prices rising and plummeting. The closure of BTCT.co would have been an issue on the legality of the exchange then that of its listed securities, though you never know.
Sou
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(Bitcoin related text here)


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September 24, 2013, 10:18:26 AM
 #14058

Is there any real argument against bitfunder? It is a no brainer to list there.

Ukyo said bitfunder has very strict rule in selecting asset. So it is not like where to list is completely decided by the issuer. Labcoin will bring high volume, but in the same time a high risk.

Ukyo has spent more on lawyers than he has made from his site, and if Labcoin was the catalyst for BTCT.co closing down I am sure Ukyo might think twice.

In my opinion Ukyo has nothing to worry about, Labcoin have proven themselves trustworthy.

When did they prove themselves trustworthy?
drawingthesun
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September 24, 2013, 10:19:47 AM
 #14059

Is there any real argument against bitfunder? It is a no brainer to list there.

Ukyo said bitfunder has very strict rule in selecting asset. So it is not like where to list is completely decided by the issuer. Labcoin will bring high volume, but in the same time a high risk.

Ukyo has spent more on lawyers than he has made from his site, and if Labcoin was the catalyst for BTCT.co closing down I am sure Ukyo might think twice.

In my opinion Ukyo has nothing to worry about, Labcoin have proven themselves trustworthy.

When did they prove themselves trustworthy?

They are hashing on BTC-Guild.
Zubilica
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September 24, 2013, 10:20:46 AM
 #14060

Is there any real argument against bitfunder? It is a no brainer to list there.

Ukyo said bitfunder has very strict rule in selecting asset. So it is not like where to list is completely decided by the issuer. Labcoin will bring high volume, but in the same time a high risk.

Ukyo has spent more on lawyers than he has made from his site, and if Labcoin was the catalyst for BTCT.co closing down I am sure Ukyo might think twice.

In my opinion Ukyo has nothing to worry about, Labcoin have proven themselves trustworthy.

When did they prove themselves trustworthy?

They are hashing on BTC-Guild.

ATM they are not hashing Smiley

http://www.btcguild.com/index.php?page=rankings&section=teams

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