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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1040971 times)
yuchuanzhen
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August 02, 2013, 03:26:24 AM
 #1481

Quote
Outstanding 10000000 / 10000000 Issued
what's going on? Huh

10,000,000 shares exist, 7,000,000 offered at IPO and founders own the other 3,000,000.
so,they are free to sell?

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yxxyun
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August 02, 2013, 03:31:41 AM
 #1482

Quote
Outstanding 10000000 / 10000000 Issued
what's going on? Huh

10,000,000 shares exist, 7,000,000 offered at IPO and founders own the other 3,000,000.
so,they are free to sell?
so that's why the price falling?

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Vigil
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August 02, 2013, 03:35:11 AM
 #1483

labcoin transactions are frozen again. Can't buy or sell.
szmarco
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August 02, 2013, 03:43:37 AM
 #1484

Quote
Outstanding 10000000 / 10000000 Issued
what's going on? Huh

10,000,000 shares exist, 7,000,000 offered at IPO and founders own the other 3,000,000.
so,they are free to sell?
so that's why the price falling?

It will be a very bad situation.
Zero share holding means zero responsibility to shareholder's profits.
Vigil
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August 02, 2013, 03:54:49 AM
 #1485

Quote
Outstanding 10000000 / 10000000 Issued
what's going on? Huh

10,000,000 shares exist, 7,000,000 offered at IPO and founders own the other 3,000,000.
so,they are free to sell?
so that's why the price falling?

It will be a very bad situation.
Zero share holding means zero responsibility to shareholder's profits.
I don't think they are selling, they have just been issued the shares - someone had to be issued the shares. 10M total, 3M to them, and 7M to investors at BTC.001
damiano
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August 02, 2013, 04:06:51 AM
 #1486

Quote
Outstanding 10000000 / 10000000 Issued
what's going on? Huh

10,000,000 shares exist, 7,000,000 offered at IPO and founders own the other 3,000,000.
so,they are free to sell?
so that's why the price falling?

It will be a very bad situation.
Zero share holding means zero responsibility to shareholder's profits.
I don't think they are selling, they have just been issued the shares - someone had to be issued the shares. 10M total, 3M to them, and 7M to investors at BTC.001

I believe this was discussed earlier but the 3 mill had to be issues the founders.

szmarco
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August 02, 2013, 04:08:36 AM
 #1487

Quote
Outstanding 10000000 / 10000000 Issued
what's going on? Huh

10,000,000 shares exist, 7,000,000 offered at IPO and founders own the other 3,000,000.
so,they are free to sell?
so that's why the price falling?

It will be a very bad situation.
Zero share holding means zero responsibility to shareholder's profits.
I don't think they are selling, they have just been issued the shares - someone had to be issued the shares. 10M total, 3M to them, and 7M to investors at BTC.001

yes,maybe they are not now,but they are "able to". No one can find it if it happens.
yxxyun
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August 02, 2013, 04:13:30 AM
 #1488

Quote
Outstanding 10000000 / 10000000 Issued
what's going on? Huh

10,000,000 shares exist, 7,000,000 offered at IPO and founders own the other 3,000,000.
so,they are free to sell?
so that's why the price falling?

It will be a very bad situation.
Zero share holding means zero responsibility to shareholder's profits.
I don't think they are selling, they have just been issued the shares - someone had to be issued the shares. 10M total, 3M to them, and 7M to investors at BTC.001

yes,maybe they are not now,but they are "able to". No one can find it if it happens.


yes, that's bad.  I think the 3,000,000 shares should be locked, but they are issued and free to sell.

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yuansuyi
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August 02, 2013, 04:25:08 AM
 #1489

Quote
Outstanding 10000000 / 10000000 Issued
what's going on? Huh


outstanding: 300000/10000000 Huh

+1, what is that?

Those are the 300000 private shares and I assume they were transfered internally.

then it should be 3M not 300k according to the contract, or am I wrong?

Correct, but to avoid possible 'fat fingering' of any transfer we are transferring the 3 million shares not available for sale in the IPO in batches instead of as a single lump transfer. NO shares are sold privately during or before the IPO!

Ytterbium
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August 02, 2013, 04:55:28 AM
 #1490

I assume they are not planning on doing any insider trading any time soon.  In a real IPO top company executives are blocked from selling stock for a certain period after the IPO.

boyohi
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August 02, 2013, 05:03:41 AM
 #1491

Quote
Outstanding 10000000 / 10000000 Issued
what's going on? Huh


outstanding: 300000/10000000 Huh

+1, what is that?

Those are the 300000 private shares and I assume they were transfered internally.

then it should be 3M not 300k according to the contract, or am I wrong?

Correct, but to avoid possible 'fat fingering' of any transfer we are transferring the 3 million shares not available for sale in the IPO in batches instead of as a single lump transfer. NO shares are sold privately during or before the IPO!



+1
Yes the 3mil was there before the IPO. We should have 10mil/10mil outstanding.  The shares didn't reflect that because of a bug that Burnside already acknowledged and said he would fix today. Looks like he fixed the bug.
Ytterbium
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August 02, 2013, 05:14:36 AM
 #1492

Here's a question: Do you guys have a target in mind of what % of the network hashrate you'd like to achieve?  ASICMiner targets 20%, BTCGarden plans on getting 35% (doubtful, IMO)

damiano
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August 02, 2013, 05:16:10 AM
 #1493

Here's a question: Do you guys have a target in mind of what % of the network hashrate you'd like to achieve?  ASICMiner targets 20%, BTCGarden plans on getting 35% (doubtful, IMO)

I think they were saying 15%
superduh
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August 02, 2013, 06:40:36 AM
 #1494

Here's a question: Do you guys have a target in mind of what % of the network hashrate you'd like to achieve?  ASICMiner targets 20%, BTCGarden plans on getting 35% (doubtful, IMO)

these companies are going to put btcguild and others out of biz

ok
Wayne_Chang
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August 02, 2013, 08:22:23 AM
 #1495

Here's a question: Do you guys have a target in mind of what % of the network hashrate you'd like to achieve?  ASICMiner targets 20%, BTCGarden plans on getting 35% (doubtful, IMO)

these companies are going to put btcguild and others out of biz
Maybe little hashpower will concentrate to big mining pool like btcguild and 50btc.
Other smaller mining pools will be forced out.
weaknesswaran
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August 02, 2013, 08:55:23 AM
 #1496

The mining pool / solo mining doesn´t really matter right now.

It´s all about bringing the hashing power online as soon as possible.
ArcticWolf
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August 02, 2013, 10:58:20 AM
 #1497

Quote
Outstanding 10000000 / 10000000 Issued
what's going on? Huh

10,000,000 shares exist, 7,000,000 offered at IPO and founders own the other 3,000,000.

If the founders own the other 3million, why are they issued on the exchange at all? The can keep those shares privately held and still earn the dividends form them. With the shares issued on the exchange as they are, the founders could cash out their shares at any point and noone would be any the wiser.

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Lohoris
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August 02, 2013, 11:01:57 AM
 #1498

If the founders own the other 3million, why are they issued on the exchange at all? The can keep those shares privately held and still earn the dividends form them. With the shares issued on the exchange as they are, the founders could cash out their shares at any point and noone would be any the wiser.
I agree.

I guess they haven't realised this, but who knows.
It would be nice for them to address this problem.

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tucenaber
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August 02, 2013, 11:10:11 AM
 #1499

If the founders own the other 3million, why are they issued on the exchange at all? The can keep those shares privately held and still earn the dividends form them. With the shares issued on the exchange as they are, the founders could cash out their shares at any point and noone would be any the wiser.
I agree.

I guess they haven't realised this, but who knows.
It would be nice for them to address this problem.


It doesn't mean anything. This is just make believe anyway. Do realize that legally you don't own anything? If the real owners want to screw you they can, and there is nothing you can do about it.

[edit] Actually, it means one thing: the dividends will be payed to all 10M shares. Which is just what the stockholder agreement says.


I take that back. That was stupid of me.
Luckybit
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August 02, 2013, 12:44:50 PM
 #1500

Here's a question: Do you guys have a target in mind of what % of the network hashrate you'd like to achieve?  ASICMiner targets 20%, BTCGarden plans on getting 35% (doubtful, IMO)

these companies are going to put btcguild and others out of biz
Maybe little hashpower will concentrate to big mining pool like btcguild and 50btc.
Other smaller mining pools will be forced out.

Labcoin can sell to BTCguild and 50BTC and make massive profits while also mining.
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