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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1040802 times)
dhenson
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September 24, 2013, 11:01:11 PM
 #14221

Back to the 'Which exchange should we move to?' discussion.  Just my 2BTC but I think Labcoin should place a high preference on moving to an exchange that is operating legally in the jurisdiction in which it exists.  For example, Havelock Investments is in Canada and Canada is very friendly to alt currency start ups, going so far as to say that they are unregulated.

Let's do what we can to avoid this same situation (or worse) in the future.

I do not quite understand. Is Belize an over-regulated country?  Wink

I think what he means is, have it secure and regulated to secure our investments in-case things go pear shaped, doesn't matter where..

If there is no regulation, everything is legal. I thought that this was more or less the case in Belize. But apparently it is not like that.

If Ukyo is a U.S. citizen then he is bound to follow U.S. laws and regulations.
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Ytterbium
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September 24, 2013, 11:09:12 PM
 #14222

If Ukyo is a U.S. citizen then he is bound to follow U.S. laws and regulations.

What makes you think Ukyo is in the US?

AngelSky
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Pundi X- Any store can buy, sell & accept Crypto!


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September 24, 2013, 11:15:36 PM
 #14223

Still not hashing ?

▄██████████████████████████████████████████████████████████████████▀███▀███▄
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Sou
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(Bitcoin related text here)


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September 24, 2013, 11:16:14 PM
 #14224

Still not hashing ?

Their BTC wallet suggest they are hashing.
moribana
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September 24, 2013, 11:19:58 PM
 #14225

Back to the 'Which exchange should we move to?' discussion.  Just my 2BTC but I think Labcoin should place a high preference on moving to an exchange that is operating legally in the jurisdiction in which it exists.  For example, Havelock Investments is in Canada and Canada is very friendly to alt currency start ups, going so far as to say that they are unregulated.

Let's do what we can to avoid this same situation (or worse) in the future.

I do not quite understand. Is Belize an over-regulated country?  Wink

I think what he means is, have it secure and regulated to secure our investments in-case things go pear shaped, doesn't matter where..

If there is no regulation, everything is legal. I thought that this was more or less the case in Belize. But apparently it is not like that.

If Ukyo is a U.S. citizen then he is bound to follow U.S. laws and regulations.

I do not think there are any US regulations pertaining to stocks listed in another country.
Ytterbium
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September 24, 2013, 11:20:40 PM
 #14226

Still not hashing ?

Their BTC wallet suggest they are hashing.

Not very fast, though average over the last payment would be 171.73Gh/s, not counting whatever extra is in the account (it would have had to be less then 0.15 an hour ago or they would have gotten a payment then)

They're still not in the top 25 on BTCGuild, so they're less then 647.94Gh/s.  

So, somewhere between 171.73Gh/s minimum and 647.94Gh/s max.

Ytterbium
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September 24, 2013, 11:22:01 PM
 #14227

I do not think there are any US regulations pertaining to stocks listed in another country.

If you're in the US you have to follow US laws, regardless of where your company is registered. But as far as I know Uyko isn't based in the US.

moribana
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September 24, 2013, 11:24:50 PM
 #14228

I do not think there are any US regulations pertaining to stocks listed in another country.

If you're in the US you have to follow US laws, regardless of where your company is registered. But as far as I know Uyko isn't based in the US.

I understand that if I am in the US I have to follow US laws. The question is whether there are actually any US laws about the Belize stock market.
dwdoc
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September 24, 2013, 11:25:01 PM
 #14229

Where do I buy shares in team China?
GreekGeek
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September 24, 2013, 11:26:29 PM
 #14230

Where do I buy shares in team China?

+1111

retirement fund : 1NBM5DM317RfWsHXKUfPUDtba2scavpPoB
KCBitcoin
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September 24, 2013, 11:37:45 PM
 #14231

Will Labcoin be BFL #2?
dhenson
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September 24, 2013, 11:38:27 PM
 #14232

If Ukyo is a U.S. citizen then he is bound to follow U.S. laws and regulations.

What makes you think Ukyo is in the US?

Just his posts about lawyer costs spent above and beyond site profits.  If he lived outside the U.S. he wouldn't be so worried (at least that's the impression I got).
Luckybit
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September 24, 2013, 11:41:53 PM
 #14233


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.

Bitshares, Netcoin and Mastercoin are options for distributed exchanges. Those options should come online in 2014 but for now it would be best of Labcoin lists on all the exchanges. Some people prefer Havelock, some prefer Bitfunder, and there is Cryptostocks.
Luckybit
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September 24, 2013, 11:43:06 PM
 #14234



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.


Havelock has a passthrough already.
Luckybit
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September 24, 2013, 11:44:09 PM
 #14235

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

WeExchange is an argument against it.
KCBitcoin
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September 24, 2013, 11:46:04 PM
 #14236

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

WeExchange is an argument against it.
+1
Luckybit
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September 24, 2013, 11:46:19 PM
 #14237


They certainly do make it hard to believe in them.

Well from the sound of things "Labcoin have proven themselves trustworthy". I guess started hashing at 20Th, and shareholders have started to receive the dividends. 

They paid out dividends.
well.attenuated
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September 25, 2013, 12:14:25 AM
 #14238

Where do I buy shares in team China?

Buy Bitfury rack and join Team China...  Wink
Ytterbium
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September 25, 2013, 01:15:23 AM
 #14239

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

WeExchange is an argument against it.
+1

What's the problem people have with WeExchange?  I'm not saying it's not a problem or anything - I'm actually not very familiar with it.

pedrog
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September 25, 2013, 01:19:36 AM
 #14240

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

WeExchange is an argument against it.
+1

What's the problem people have with WeExchange?  I'm not saying it's not a problem or anything - I'm actually not very familiar with it.

It might be complicated for some people...

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