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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
Franktank
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July 31, 2013, 05:57:32 AM
 #161

They gave no warning. IPO shares started selling at 1:50 AM in US - they said they would start during US Business day.

Make sure you know what you're talking about before speaking. People have put up bids, NO shares have been sold yet.

OK. OK.

Why are people putting in bids for much less than the IPO price?

Many reasons: hoping someone mistakes a decimal point, someone really needs to liquidate shares for emergency funds, etc.
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July 31, 2013, 05:58:31 AM
 #162

so, if I want some shares should I be putting a bid in now?
KCBitcoin
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July 31, 2013, 05:58:43 AM
 #163

This is crazy...
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July 31, 2013, 05:59:45 AM
 #164

Watching Smiley
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July 31, 2013, 06:01:45 AM
 #165

Apparently someone put in a bid for 1.3 million shares. About $130k USD.

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July 31, 2013, 06:02:47 AM
 #166

This is crazy...

Agreed. With AM, BTCGarden, and Labcoin, the network hash rate will reach 2 PH/s by Christmas. You have to be brave if you want to own a miner  Undecided
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July 31, 2013, 06:12:20 AM
 #167

The interesting thing is - these companies could potentially diversify and start producing other types of microchips as well, if mining ends up becoming difficult to profit from.

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July 31, 2013, 06:20:14 AM
 #168

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck

ok
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July 31, 2013, 06:23:12 AM
 #169

I'm just going to throw this idea out there to the wolves of the form, but...what if Litecoin for whatever reason started to gain traction and it become increasingly more profitable to mine. How long would it be for one of these leading bodies in the BTC mining movement to direct some attention to mining Litecoin (or any other alt)? Or, would that risk letting your position slip in the BTC mining arms race?
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July 31, 2013, 06:23:42 AM
 #170

Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs?  Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)

First in, first out.


There are multiple orders sitting on 0.001 (here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed.

Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end.

If you want to be very sure to get your shares, place an order on 0.001.


Good luck, LABCOIN! I'm following. Wink


Edit:

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck

No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price.

Relax please. Wink

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July 31, 2013, 06:24:51 AM
 #171

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

Unlikely, this is the "free market." You take the good and the bad, have both or none. If that doesn't float your boat, I suggest checking out NYSE...
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July 31, 2013, 06:25:15 AM
 #172

I'm just going to throw this idea out there to the wolves of the form, but...what if Litecoin for whatever reason started to gain traction and it become increasingly more profitable to mine. How long would it be for one of these leading bodies in the BTC mining movement to direct some attention to mining Litecoin (or any other alt)? Or, would that risk letting your position slip in the BTC mining arms race?

It would take a significant amount of time and LTC would need to drastically rise in value for it to happen. Scrypt based ASICs are certainly possible, but they wouldn't provide the massive bump in efficiency that each generation of SHA ASICs deliver.

In my opinion, it would take longer than starting from scratch to build a SHA ASIC. Many months.

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July 31, 2013, 06:28:37 AM
 #173

omg....2 million already?
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July 31, 2013, 06:29:10 AM
 #174

Apparently someone put in a bid for 1.3 million shares. About $130k USD.

You counted too many 0's, it was 130,000
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July 31, 2013, 06:36:12 AM
 #175

Yay, this is exciting. Maybe it does get filled, before trading even starts... Grin At least a decent quck is already done.


TheSwede75:

1. Can we expect regular updates on less than weekly basis?

2. How do you plan to convert 7000 Bitcoin into fiat? No need for full disclosure, but this question is critical.

3. Please send a dev over to answer Vbs's questions from here.

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July 31, 2013, 06:36:30 AM
 #176

Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs?  Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)

First in, first out.


There are multiple orders sitting on 0.001 (here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed.

Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end.

If you want to be very sure to get your shares, place an order on 0.001.


Good luck, LABCOIN! I'm following. Wink


Edit:

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck

No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price.

Relax please. Wink

there's a reason why regulations exist and some of it actually makes sense (not all) - read about why regulations were enacted after the Great Depression. too simple to float around the words anti-regulation.

ok
Franktank
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July 31, 2013, 06:41:41 AM
 #177

Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs?  Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)

First in, first out.


There are multiple orders sitting on 0.001 (here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed.

Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end.

If you want to be very sure to get your shares, place an order on 0.001.


Good luck, LABCOIN! I'm following. Wink


Edit:

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck

No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price.

Relax please. Wink

there's a reason why regulations exist and some of it actually makes sense (not all) - read about why regulations were enacted after the Great Depression. too simple to float around the words anti-regulation.

Don't get me wrong, I get why there are rules in place. The thing is we're still in the early "Wild West" days of Bitcoins. Those days will come, for better or worse.

Edit: Trolls are now placing bids 2x - 4x IPO price, dear god...
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July 31, 2013, 06:45:15 AM
 #178

Damn, Transfer to BTC-TC takes forever.
Franktank
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July 31, 2013, 06:48:07 AM
 #179

IPO is about to be 50% filled... Before the asset is even unlocked...
superduh
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July 31, 2013, 06:48:36 AM
 #180

Damn, Transfer to BTC-TC takes forever.

6 confirms. so i'd guess 45 minutes

edit- o wow 38 minutes between the last 2 blocks!

ok
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