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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
KS
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September 29, 2013, 04:14:31 PM
 #15961

Is the countdown timer above the real deal?

no

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
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velacreations
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September 29, 2013, 04:15:37 PM
 #15962

There isn't any evidence proving Labcoin is a scam and if I've called someone a liar then it's because they were telling lies.
you are the one lying right now!  There is evidence that it is a scam, in fact, their post history is enough evidence for that. You called people liars when Labcon themselves had lied (remember the 2 TH/s on Sep 10?).

Your "defense" for them lying was that they were behind schedule.  ha!  Grin

What lacks is evidence that they are legit, even though you continue to push that they are not a scam.

dwdoc
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September 29, 2013, 04:17:03 PM
 #15963

Labcoin just signed in.
 12:20am in Hong Kong
ronaldlee0917
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September 29, 2013, 04:18:24 PM
 #15964

Is the countdown timer above the real deal?
It is the countdown to 24 hours after the announcement of a Q&A

Donation:    18zXsfnSvGjQFJ6pEiKMg2uWGcxUCfJLzu
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KS
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September 29, 2013, 04:18:46 PM
 #15965

Wait! Let me lower my low low bids!

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
merv77
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September 29, 2013, 04:19:11 PM
 #15966

Yeah.  At the same time, though I think LC could use a board to oversee what's going on. And also offer assistance and in terms of how to manage things.

One of the reasons why the share price is in so much trouble is the rising difficulty.  If this was a year ago, it wouldn't be much of a problem if they got delayed by a month or so.  ASICMiner had issues as well.  B1 Avalons were delayed a month or two, but their owners are still pretty happy. 

The problem now is that with KnC, Cointerra, and the like there's not much room for error, before bitcoin mining becomes unprofitable.

The difficulty is not such a big problem here because this is not a normal mining security. This is a security that owns an asic design. That means they can create miner at cost. Thats fundamentally different to securities that have to buy miner for nearly enduser prices. Those last securities arent much better than when you buy hardware yourself. And you know it wont be a big success. But securities like labcoin can create the miners at cost and on top they will grow the mine. So the difficulty isnt a big problem.
I admit... i invested in 2 other normal mining projects, that dont own their own design, in the hope that the previous patterns of other mining securities are repeated. They went up and then slowly dropped. But since all the panic is going on in all mining securities now this wont work anymore. My bad. But companies like labcoin, that own their own asic design, are different.

Regarding the scam claims... they didnt run with the money because they wanted to earn more later? How that? I mean they still have 2million shares. Where is the sense when this would be planned as a scam? It would have been so easy to fake a miner. I could do this myself. Then when the shareprice is rising sell the 2 million shares. Easy as pie. Instead they post unfortunate news and know that it makes the price drop. So they are bagholding scammers? Really?

If this is a scam then its a scam done exceptionally bad.

I guess it could be a scam and they just fucked up in typical Labcoin fashion.  Cheesy

I got that thought too... Smiley but then i think... every kid could have made such a scam a success.

The difference to scams like pirateat40 is that pirate was still earn more than he paid out all the time. When this started to change he stopped paying out. With such a security that wouldnt make much sense. The IPO-Money would be what counts. Everything above that would be to pump the shareprice high so one could sell the shares the security issuer owns. It looks like that didnt happen. And they did exceptionally bad to push the shareprice. I mean they knew exactly when they will post bad news. They posted it and still have their shares. It would be the best time to sell them before. Or even fake a miner hardware and fake a cgminer screen output. Easily doable. Instead they post more and more bad news while bagholding their own shares. That means they either believe in the divs of the project or, if still seeing a scam, they want cheap shares. But even then... they could post news looking way worse. Or not speaking at all. Then the shareprice would be even way lower. They could buy shares with a sockpuppet account since they know it will succeed.
So either way i look at it... it doesnt make much sense as a scam.

I like to think you're correct.  

I wouldn't know if they are a scam or not, but one thing I can remember when Labcoin (Samual Noi) first created the original Labcoin thread and presented this project he was involved in... and he wasn't looking at IPOing the project but he was looking for private investors, or angel investors - I can't remember the exact words.  But what I can remember was that forum members here suggested it would be better to IPO as there was huge amount of interest in the project.  Can anyone else remember this in the beginning..?

Also my impression at the time, was they didn't seem like professionals, especially at IPO's... that's where theSwede comes to the rescue...  REMEMBER.Huh

So, what I'm getting at, is that this wasn't a scam intentionally, but this was a creation that evolved from this forum and everyone in it including myself.
I think that Samual Noi maybe genuine would like this to work out, but unfortunately he don't have a clue and is in over his head.
MikeyVeez
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September 29, 2013, 04:19:23 PM
 #15967

There QA doesn't matter, it's useless:

1. No hashing until October 15th the earliest, which they will probably miss deadline.
2. Head Engineer Howard left a month ago, they have no hardware person, and have sent chips and boards to 3rd party.
3. There is no Team, besides Sam, which could be Alessia
4. No exchange yet, they will only add hash after they are taken off of BTCT.

This thing is worthless, and will continue to plunge, as again nothing will happen until after October 15th, and they will be off of the exchange way before then.

Don't worry though make sure you hold until the Q&A tomorrow so you realize how worthless it is, when they tell you please wait 3 weeks until our 3rd party imaginary person hopefully fixes things, then you can sell for another 60% loss.


Great summary of current situation
zumzero
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September 29, 2013, 04:22:15 PM
 #15968

There isn't any evidence proving Labcoin is a scam and if I've called someone a liar then it's because they were telling lies.
you are the one lying right now!  There is evidence that it is a scam, in fact, their post history is enough evidence for that. You called people liars when Labcon themselves had lied (remember the 2 TH/s on Sep 10?).

Your "defense" for them lying was that they were behind schedule.  ha!  Grin

What lacks is evidence that they are legit, even though you continue to push that they are not a scam.

You don't even have corroborating evidence, only circumstantial through inference.  Just because you talk, doesn't mean what you say is correct, and you are doing a lot of talking.

You are all going round in circles and making no progress what so ever.  Time to take a step back and look at the argument from the other side of the fence.

https://mybitcoin.garden
Bitcoin game where you can earn up to 220% on each planted garden!
dwdoc
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September 29, 2013, 04:23:12 PM
 #15969

Link to the IRC channel anyone? Haven't used IRC in a while.  Huh

http://en.irc2go.com/webchat/?net=freenode&room=labcoin

#labcoin
KS
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September 29, 2013, 04:24:59 PM
 #15970

Yeah.  At the same time, though I think LC could use a board to oversee what's going on. And also offer assistance and in terms of how to manage things.

One of the reasons why the share price is in so much trouble is the rising difficulty.  If this was a year ago, it wouldn't be much of a problem if they got delayed by a month or so.  ASICMiner had issues as well.  B1 Avalons were delayed a month or two, but their owners are still pretty happy. 

The problem now is that with KnC, Cointerra, and the like there's not much room for error, before bitcoin mining becomes unprofitable.

The difficulty is not such a big problem here because this is not a normal mining security. This is a security that owns an asic design. That means they can create miner at cost. Thats fundamentally different to securities that have to buy miner for nearly enduser prices. Those last securities arent much better than when you buy hardware yourself. And you know it wont be a big success. But securities like labcoin can create the miners at cost and on top they will grow the mine. So the difficulty isnt a big problem.
I admit... i invested in 2 other normal mining projects, that dont own their own design, in the hope that the previous patterns of other mining securities are repeated. They went up and then slowly dropped. But since all the panic is going on in all mining securities now this wont work anymore. My bad. But companies like labcoin, that own their own asic design, are different.

Regarding the scam claims... they didnt run with the money because they wanted to earn more later? How that? I mean they still have 2million shares. Where is the sense when this would be planned as a scam? It would have been so easy to fake a miner. I could do this myself. Then when the shareprice is rising sell the 2 million shares. Easy as pie. Instead they post unfortunate news and know that it makes the price drop. So they are bagholding scammers? Really?

If this is a scam then its a scam done exceptionally bad.

I guess it could be a scam and they just fucked up in typical Labcoin fashion.  Cheesy

I got that thought too... Smiley but then i think... every kid could have made such a scam a success.

The difference to scams like pirateat40 is that pirate was still earn more than he paid out all the time. When this started to change he stopped paying out. With such a security that wouldnt make much sense. The IPO-Money would be what counts. Everything above that would be to pump the shareprice high so one could sell the shares the security issuer owns. It looks like that didnt happen. And they did exceptionally bad to push the shareprice. I mean they knew exactly when they will post bad news. They posted it and still have their shares. It would be the best time to sell them before. Or even fake a miner hardware and fake a cgminer screen output. Easily doable. Instead they post more and more bad news while bagholding their own shares. That means they either believe in the divs of the project or, if still seeing a scam, they want cheap shares. But even then... they could post news looking way worse. Or not speaking at all. Then the shareprice would be even way lower. They could buy shares with a sockpuppet account since they know it will succeed.
So either way i look at it... it doesnt make much sense as a scam.

I like to think you're correct.  

I wouldn't know if they are a scam or not, but one thing I can remember when Labcoin (Samual Noi) first created the original Labcoin thread and presented this project he was involved in... and he wasn't looking at IPOing the project but he was looking for private investors, or angel investors - I can't remember the exact words.  But what I can remember was that forum members here suggested it would be better to IPO as there was huge amount of interest in the project.  Can anyone else remember this in the beginning..?

Also my impression at the time, was they didn't seem like professionals, especially at IPO's... that's where theSwede comes to the rescue...  REMEMBER.Huh

So, what I'm getting at, is that this wasn't a scam intentionally, but this was a creation that evolved from this forum and everyone in it including myself.
I think that Samual Noi maybe genuine would like this to work out, but unfortunately he don't have a clue and is in over his head.

You also have to look at the fact that they really f*cked their investors (pardon my french). They might be in over their head on the hardware side, but the no-show here is just criminal.

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
velacreations
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September 29, 2013, 04:25:54 PM
 #15971

You don't even have corroborating evidence, only circumstantial through inference.  Just because you talk, doesn't mean what you say is correct, and you are doing a lot of talking.

You are all going round in circles and making no progress what so ever.  Time to take a step back and look at the argument from the other side of the fence.
so, where's the evidence they are legit?  can you show us that?  cause that's what is required right now.

I don't have to prove my side of the argument.  My side is the default.  Until shown otherwise, you can just assume they are a scam.

The burden of proof is on the shoulders of the people that continue to defend known liars who fail to meet any goals or deadlines.

dwdoc
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September 29, 2013, 04:31:55 PM
 #15972

username Sam Noi just joined irc #labcoin

http://en.irc2go.com/webchat/?net=freenode&room=labcoin

need to authenticate

12:35am In Hong Kong.
KS
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September 29, 2013, 04:32:31 PM
 #15973

or http://webchat.freenode.net/

#labcoin

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
AngelSky
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September 29, 2013, 04:32:45 PM
 #15974

Official Labcoin's Office:


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 ▄█████████ ███      ███  ▄█████  ▄█████  ▄████████▄   ▄████████▄   ▄█████████ ███       ███
███▀        ███      ███ ███▀    ███▀    ███▀    ▀███ ███▀    ▀███ ███▀        ███       ███
███         ███      ███ ███     ███     ████████████ ███      ███ ███         ███▄     ▄███
███▄        ███▄    ▄███ ███     ███     ███▄         ███      ███ ███▄         ▀███████████
 ▀█████████  ▀████████▀  ███     ███      ▀█████      ███      ███  ▀█████████          ▄███
                                                                                     █████▀
























dexX7
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September 29, 2013, 04:33:13 PM
 #15975

username Sam Noi just joined irc #labcoin

http://en.irc2go.com/webchat/?net=freenode&room=labcoin

It's not the real one.

dwdoc
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September 29, 2013, 04:34:42 PM
 #15976

Fake
KS
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September 29, 2013, 04:35:57 PM
 #15977

price pump

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
JohnyBigs
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September 29, 2013, 04:42:14 PM
 #15978

LMFAO Sam said November 15th now for getting everything back, and they might cancel the project all together and people buy lmfao.
dwdoc
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September 29, 2013, 04:43:18 PM
 #15979

Fake Sam
VolanicEruptor
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September 29, 2013, 04:44:19 PM
 #15980

LMFAO Sam said November 15th now for getting everything back, and they might cancel the project all together and people buy lmfao.

You're pretty gullible...

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