[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)

[girlfawkesy]

Any ideas on where this new payment just came in from?

http://blockchain.info/tx/91692102235cc8d8379725476f3e578535a8f6636becfff1b4c1f360f612e39a

That's a BTCguild payment, as was the one for .19 that preceded nearly exactly 30 minutes ago.

The irony here is that they're likely no longer mining under the name labcoin. That rate of payout would mean .40 per hour which is about 2.8 terrahash per second.

So I have no fucking idea what is going on.

[1714832560]

1714832560

[ishkur]

jurisdictions. they matter and are freaking confusing to deal with regardless

If US shareholders have been effected then this is by default SEC territory. The US government is tireless in it's hunt for multimillion dollar fraudsters. International extradition warrents take a day to sort out and almost every country in the Western World has an agreement to uphold these extradition warrents.

Getting bigger payouts to the address now.. averaging the last 4 payouts its about 1.8 TH

Yup  

[radiumsoup]

jurisdictions. they matter and are freaking confusing to deal with regardless

If US shareholders have been effected then this is by default SEC territory. The US government is tireless in it's hunt for multimillion dollar fraudsters. International extradition warrents take a day to sort out and almost every country in the Western World has an agreement to uphold these extradition warrents.

http://www.gov.cn/english/laws/2005-09/22/content_68710.htm

Article 8 The request for extradition made by a foreign state to the People's Republic of China shall be rejected if:

　　(1) the person sought is a national of the People's Republic of China under the laws of the People's Republic of China;

[superduh]

jurisdictions. they matter and are freaking confusing to deal with regardless

If US shareholders have been effected then this is by default SEC territory. The US government is tireless in it's hunt for multimillion dollar fraudsters. International extradition warrents take a day to sort out and almost every country in the Western World has an agreement to uphold these extradition warrents.

no it's not. that is just utter bullshit. US is not world police. unless they can prove US citizens were TARGETED specifically than maybeeeeeeeee and that's a maybe. US shareholders can be affected by anything in the world a sneeze and a fart as well doesn't mean that gives US the reach to other jurisdictions.

[auto2nr1]

Any ideas on where this new payment just came in from?

http://blockchain.info/tx/91692102235cc8d8379725476f3e578535a8f6636becfff1b4c1f360f612e39a

That's a BTCguild payment, as was the one for .19 that preceded nearly exactly 30 minutes ago.

The irony here is that they're likely no longer mining under the name labcoin. That rate of payout would mean .40 per hour which is about 2.8 terrahash per second.

So I have no fucking idea what is going on.

Let's hope that this stays consistent. At least this is proof of hashing at a higher rate. I wish they would just tell us wtf is going on here.

[minerpart]

http://www.gov.cn/english/laws/2005-09/22/content_68710.htm

Article 8 The request for extradition made by a foreign state to the People's Republic of China shall be rejected if:

　　(1) the person sought is a national of the People's Republic of China under the laws of the People's Republic of China;

Good research. But what makes you think these people are even Chinese? If they are scammers thay are using the 'China issue' as a barrier to extradition to put off investigators, it won't work. They are more likely in the West.

[Bitcycle]

Any ideas on where this new payment just came in from?

http://blockchain.info/tx/91692102235cc8d8379725476f3e578535a8f6636becfff1b4c1f360f612e39a

That's a BTCguild payment, as was the one for .19 that preceded nearly exactly 30 minutes ago.

The irony here is that they're likely no longer mining under the name labcoin. That rate of payout would mean .40 per hour which is about 2.8 terrahash per second.

So I have no fucking idea what is going on.

Whatever's going on, I sure am glad I didn't panic and sell everything at bargain basement prices.

That would have been like giving my money to someone else.

[superduh]

http://www.gov.cn/english/laws/2005-09/22/content_68710.htm

Article 8 The request for extradition made by a foreign state to the People's Republic of China shall be rejected if:

　　(1) the person sought is a national of the People's Republic of China under the laws of the People's Republic of China;

Good research. But what makes you think these people are even Chinese? If they are scammers thay are using the 'China issue' as a barrier to extradition to put off investigators, it won't work. They are more likely in the West.

start by message mr howard wang first and see what his response is. he is actually in the US now

[radiumsoup]

http://www.gov.cn/english/laws/2005-09/22/content_68710.htm

Article 8 The request for extradition made by a foreign state to the People's Republic of China shall be rejected if:

　　(1) the person sought is a national of the People's Republic of China under the laws of the People's Republic of China;

Good research. But what makes you think these people are even Chinese? If they are scammers thay are using the 'China issue' as a barrier to extradition to put off investigators, it won't work. They are more likely in the West.

my point was that the US does not have unilateral jurisdiction here.

[minerpart]

no it's not. that is just utter bullshit. US is not world police. unless they can prove US citizens were TARGETED specifically than maybeeeeeeeee and that's a maybe. US shareholders can be affected by anything in the world a sneeze and a fart as well doesn't mean that gives US the reach to other jurisdictions.

That's complete conjecture. Do you have any evidence to suggest the US wont be interested in a multimillion dollar scam when US citizens start complaining. You think they will do nothing? There are UK citizens extradicted to the US every year for similar frauds.

[KarmaShark]

Any ideas on where this new payment just came in from?

http://blockchain.info/tx/91692102235cc8d8379725476f3e578535a8f6636becfff1b4c1f360f612e39a

That's a BTCguild payment, as was the one for .19 that preceded nearly exactly 30 minutes ago.

The irony here is that they're likely no longer mining under the name labcoin. That rate of payout would mean .40 per hour which is about 2.8 terrahash per second.

So I have no fucking idea what is going on.

Let's hope that this stays consistent. At least this is proof of hashing at a higher rate. I wish they would just tell us wtf is going on here.

If Labcoin does somehow manage to start hashing at relevant numbers with increasing hashrate than this will go down as one of the biggest swerves in Bitcoin history. Not even Vince McMahon could have scripted a better storyline.

[zumzero]

So we are all in agreement that LC is indeed  a scam, and that legal proceedings are a possibility for those involved.

But what I'd like to know is what will happen over the next couple of days and weeks for those whale shareholders with over 100,000 shares each.

Are they likely to hope that they don't lose the lot if btct.co closes its doors and they still haven't sold up?  Surely that is an inordinate risk.

Will they leave it until the last minute to sell?  This would be akin to financial suicide though as the share price would be driven down with the panic.

One thing's for sure, there are quite a few of them left holding and it's only a matter of time until they play their hands.  

It's going to become very interesting, very soon.

[minerpart]

my point was that the US does not have unilateral jurisdiction here.

Indeed not, it doesn't have jurisdiction anywhere except US territory. It has agreements with other nations.

In case you weren't aware the Chinese gov crack down VERY hard on corruption and fraud. One of their top 10 politicians is in jail right now due to corruption.

[Bitcycle]

So we are all in agreement that LC is indeed  a scam, and that legal proceedings are a possibility for those involved.

But what I'd like to know is what will happen over the next couple of days and weeks for those whale shareholders with over 100,000 shares each.

Are they likely to hope that they don't lose the lot if btct.co closes its doors and they still haven't sold up?  Surely that is an inordinate risk.

Will they leave it until the last minute to sell?  This would be akin to financial suicide though as the share price would be driven down with the panic.

One thing's for sure, there are quite a few of them left holding and it's only a matter of time until they play their hands.  

It's going to become very interesting, very soon.

LOL.

How low is your bid?

[superduh]

no it's not. that is just utter bullshit. US is not world police. unless they can prove US citizens were TARGETED specifically than maybeeeeeeeee and that's a maybe. US shareholders can be affected by anything in the world a sneeze and a fart as well doesn't mean that gives US the reach to other jurisdictions.

That's complete conjecture. Do you have any evidence to suggest the US wont be interested in a multimillion dollar scam when US citizens start complaining. You think they will do nothing? There are UK citizens extradicted to the US every year for similar frauds.

1) SEC is only civil claims. doubt they would be able to even get an extradition for that. 2) 1 million scam is small compared to the shit tons of scams going on nonstop in this world 3) certain countries won't extradite their citizens to US for this kind of stuff, russia, china, many others 4) hopefully it wont have to come down to that 5) it's a mess regardless

[Bitcycle]

We got us a bunch of people from Muddy Waters on this site.

[dopamine]

amazing company

No Update

"I am going to let the mining speak for itself when the pool merge is complete"

[girlfawkesy]

another payment of .05 exactly 20 minutes after the last one. thats .41 in the past 50 minutes.

[KarmaShark]

Someone likes what they see:



22:30 (B) 227 @ 0.00070000 LABCOIN
22:23 (B) 4000 @ 0.00068000 LABCOIN
22:23 (B) 2820 @ 0.00067100 LABCOIN
22:23 (B) 1641 @ 0.00067000 LABCOIN
22:23 (B) 3500 @ 0.00066990 LABCOIN
22:23 (B) 7511 @ 0.00066900 LABCOIN
22:23 (B) 288 @ 0.00066900 LABCOIN
22:23 (B) 2000 @ 0.00066000 LABCOIN
22:23 (B) 1 @ 0.00066000 LABCOIN
22:23 (B) 1337 @ 0.00064700 LABCOIN
22:23 (B) 2000 @ 0.00063240 LABCOIN
22:23 (B) 1079 @ 0.00063220 LABCOIN
22:23 (B) 20 @ 0.00063000 LABCOIN
22:23 (B) 2000 @ 0.00062550 LABCOIN
22:22 (B) 1800 @ 0.00062500 LABCOIN
22:22 (B) 1 @ 0.18980000 W4A-BOOK
22:20 (B) 200 @ 0.00062500 LABCOIN
22:20 (B) 3811 @ 0.00058180 LABCOIN
22:18 (B) 2000 @ 0.00056990 LABCOIN
22:18 (B) 2603 @ 0.00056980 LABCOIN
22:18 (B) 989 @ 0.00056000 LABCOIN
21:59 (B) 4000 @ 0.00051900 LABCOIN
21:48 (B) 228 @ 0.00051000 LABCOIN
21:48 (B) 605 @ 0.00050900 LABCOIN
21:48 (B) 1000 @ 0.00049990 LABCOIN
21:48 (B) 666 @ 0.00049900 LABCOIN

[superduh]

my point was that the US does not have unilateral jurisdiction here.

Indeed not, it doesn't have jurisdiction anywhere except US territory. It has agreements with other nations.

In case you weren't aware the Chinese gov crack down VERY hard on corruption and fraud. One of their top 10 politicians is in jail right now due to corruption.

that is the biggest joke ever. "hard" "crackdown" for the papers maybe. the country is run by corrupt and crooked practices - i'm surprised you are not aware of that. there's 1 headline corruption case for every 100 corrupt people. you made me chuckle. people who are aware of china know that china is ok with corruption as long as it's on the hush hush