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

[Puppet]

How do you know labcoin hasn;t got multiple accounts creating a fake wall using a tiny percentage of the stolen money just to buy time

I dont know that. Im just predicting at least one more pump and dump before the lights go out. Even I could pull off a story and some pics credible enough to convince a non trivial part of (no offense, generally extremely gullible) posters/investors here.

Anyway, dont take that as investment advice.

No one is buying! Look at the order book.

Buying or having open bids doesnt change a lot.

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[ishkur]

The current price is still ridiculously high if labcoin where a pure moneygrab and run. Its still selling for 1/4 of its IPO when most investors hoped this could be Asicminer 2.0. The current price is at a point that would have been more reasonable from the start for a high risk venture that may or may not yield limited amounts of 180/130nm chips so late in the game, the price is not reasonable for a venture that would have been proven a scam.

My guess is that there is some truth to the lie and once the price has sunk further there will be another pump and dump PR push showing some stuff that should have been shown months ago, along with bold promises and vague statements about who is who. And right now, they are buying back their own stock, which is why its not 0.000001 yet.

I think you summed it up

In addition to it all we will likely see 2-5 TH within a few days backed by there PR which would cause the buying frenzy.  

Then the final sell off

[MikeyVeez]

The current price is still ridiculously high if labcoin where a pure moneygrab and run. Its still selling for 1/4 of its IPO when most investors hoped this could be Asicminer 2.0. The current price is at a point that would have been more reasonable from the start for a high risk venture that may or may not yield limited amounts of 180/130nm chips so late in the game, the price is not reasonable for a venture that would have been proven a scam.

My guess is that there is some truth to the lie and once the price has sunk further there will be another pump and dump PR push showing some stuff that should have been shown months ago, along with bold promises and vague statements about who is who. And right now, they are buying back their own stock, which is why its not 0.000001 yet.

I think you summed it up

In addition to it all we will likely see 2-5 TH within a few days backed by there PR which would cause the buying frenzy.  

Then the final sell off

THEY HAVE SENT THEIR CHIPS/BOARDS OUT NOT GETTING ANYTHING BACK UNTIL OCTOBER 15TH

[bitwhizz]

i doubt it, i think they have packed their suitcase and they're 'off to barbados',no announcements, nothing,  they can run and hide, for a a while, they'll be caught eventually though and be looking at 5 years minimum jail time i would suspect

Edit - i'm basing this by them taking down the miners and giving no correspondance

[minerpart]

You are delusional. 150btc for someone that already made 7000+ is NOTHING. Come on!!

Maybe you are right and they have abandoned their 2Mill shares and are happy with what they have. But I think spending a few hours a day clicking a mouse for 150btc is worth anyones time.

Ofcourse the statement about the Q and A could have been their last desperate attempt at a pump to hike price so that they could off load the 2Mill at a better price - maybe they hoped for 0.001. That would have made them 2000 Btc.


btw Just because someone has a different point of view to you does not make them delusional.

[JohnyBigs]

1. LabCoin has 0GH/sec right now, their payments of .05 have stopped.
2. They don't have chips/boards and won't be getting them fixed by at least October 15th
3. Sam didn't do a QA, missed another deadline
4. There is no Team, besides Sam
5. Before BTCT shutdown price is going to go below .00001

MAKE SURE YOU BUY MORE SHARES! SO YOU CAN LOSE 50% EVERY DAY

[ronaldlee0917]

You are delusional. 150btc for someone that already made 7000+ is NOTHING. Come on!!

Maybe you are right and they have abandoned their 2Mill shares and are happy with what they have. But I think spending a few hours a day clicking a mouse for 150btc is worth anyones time.

Ofcourse the statement about the Q and A could have been their last desperate attempt at a pump to hike price so that they could off load the 2Mill at a better price - maybe they hoped for 0.001. That would have made them 2000 Btc.


btw Just because someone has a different point of view to you does not make them delusional.

I think Burnside would not manually transfer their bitcoins to them after realizing they had dumped 2mil of their shares on the market.

[minerpart]

I think Burnside would not manually transfer their bitcoins to them after realizing they had dumped 2mil of their shares on the market.

Well it would be illegal for him to do that so I think he would have to.

Also they could be selling the shares under multiple accounts after transfering them around btc-tc so he might not know whose BTC he is clearing.

[moribana]

And right now, they are buying back their own stock, which is why its not 0.000001 yet.

No one is buying! Look at the order book.

They have sold 1Mill of what they were not supposed to already and are probablly onto the other 2Mill by now. They are selling in small batches to maximise take home pay. Right now they have about 400btc worth of LC they are trying to dump. There are not enough buyers and price is plummeting so they might only make 150btc on selling it all. That is still worth fighting for, 150btc in a few years will be a small fortune.

Someone is buying from those who are selling. There have been and there still are big orders on the bid side at ridiculously high prices.

[bobboooiie]

I Had a pretty big bid wall at 00015 but had to cancel it, this is just getting ridiculous how they are handling things. And even if this is not scam they will run this thing into the ground anyway with shit like this.

[zefyr0s]

1. LabCoin has 0GH/sec right now, their payments of .05 have stopped.
2. They don't have chips/boards and won't be getting them fixed by at least October 15th
3. Sam didn't do a QA, missed another deadline
4. There is no Team, besides Sam
5. Before BTCT shutdown price is going to go below .00001

MAKE SURE YOU BUY MORE SHARES! SO YOU CAN LOSE 50% EVERY DAY

This is the funniest post on the thread.

[ishkur]

The current price is still ridiculously high if labcoin where a pure moneygrab and run. Its still selling for 1/4 of its IPO when most investors hoped this could be Asicminer 2.0. The current price is at a point that would have been more reasonable from the start for a high risk venture that may or may not yield limited amounts of 180/130nm chips so late in the game, the price is not reasonable for a venture that would have been proven a scam.

My guess is that there is some truth to the lie and once the price has sunk further there will be another pump and dump PR push showing some stuff that should have been shown months ago, along with bold promises and vague statements about who is who. And right now, they are buying back their own stock, which is why its not 0.000001 yet.

I think you summed it up

In addition to it all we will likely see 2-5 TH within a few days backed by there PR which would cause the buying frenzy.  

Then the final sell off

THEY HAVE SENT THEIR CHIPS/BOARDS OUT NOT GETTING ANYTHING BACK UNTIL OCTOBER 15TH

DO YOU HONESTLY BELIEVE THEM IN SAYING THEY SENT EVERYTHING OUT AND THAT THEY ARE GETTING THEM BACK OCTOBER 15TH!?!?!

[minerpart]

Someone is buying from those who are selling. There have been and there still are big orders on the bid side at ridiculously high prices.

Fair post but 'no buyers' means there is no buying pressure. Those buying from the sellers right now are are buying into a lower and lower market and loosing money each time they buy and price goes even lower. There is no demand for the stock and prices are falling = 'no one is buying'.

As for the big Bids they can be withdrawn at any time they are not a reliable sign of demand and no one knows how many sellers will come onto the market when price hits those lows - so there is no guarantee that one of these walls will hold.

[KS]

And right now, they are buying back their own stock, which is why its not 0.000001 yet.

No one is buying! Look at the order book.

They have sold 1Mill of what they were not supposed to already and are probablly onto the other 2Mill by now. They are selling in small batches to maximise take home pay. Right now they have about 400btc worth of LC they are trying to dump. There are not enough buyers and price is plummeting so they might only make 150btc on selling it all. That is still worth fighting for, 150btc in a few years will be a small fortune.

This is worth doing a Q&A for...

Q&A doesnt matter anymore, they missed another deadline who cares about a q&a we know their answers already anyway. Chips are gone until October 15th and will probably be delayed until november the end.

It does when you're buying shares low, under the radar, and trying to sell them high for another potential 15% profit (on 7000BTC).

[ronaldlee0917]

User Labcoin is offline at bitcointalk.org, last seen 21 hours, 43 minutes ago

Any chance he will log into this account again???

[bitwhizz]

User Labcoin is offline at bitcointalk.org, last seen 21 hours, 43 minutes ago

Any chance he will log into this account again???

doubt it, the jig is up, they have been exposed, their history dug up, labcoin is mincemeat

[onecent]

I Had a pretty big bid wall at 00015 but had to cancel it, this is just getting ridiculous how they are handling things. And even if this is not scam they will run this thing into the ground anyway with shit like this.

They don't know how to run a business and overestimate their capability, when facing overwhelming problems they are not willing ask for help and not willing to admit it.  That really sucks

[bitwhizz]

I Had a pretty big bid wall at 00015 but had to cancel it, this is just getting ridiculous how they are handling things. And even if this is not scam they will run this thing into the ground anyway with shit like this.

They don't know how to run a business and overestimate their capability, when facing overwhelming problems they are not willing ask for help and not willing to admit it.  That really sucks

They don;t know how to run a business as thye are not business men neither do they care about labcoin, they are con artists who only care about ripping off as much as bitcoins as possible off us

[moribana]

Someone is buying from those who are selling. There have been and there still are big orders on the bid side at ridiculously high prices.

Fair post but 'no buyers' means there is no buying pressure. Those buying from the sellers right now are are buying into a lower and lower market and loosing money each time they buy and price goes even lower. There is no demand for the stock and prices are falling = 'no one is buying'.

As for the big Bids they can be withdrawn at any time they are not a reliable sign of demand and no one knows how many sellers will come onto the market when price hits those lows - so there is no guarantee that one of these walls will hold.

You are right, there is no buying pressure  . And you can really see big bid orders disappear. But still several bid orders of 10-50k have been filled at above 0.0002. I just find it strange that there are people buying this much at this point and at these prices.

[ronaldlee0917]

00:11 (B) 15 @ 0.00021690 LABCOIN
00:11 (B) 15 @ 0.00021600 LABCOIN
00:11 (B) 1 @ 0.00020900 LABCOIN
00:11 (B) 1 @ 0.00020800 LABCOIN

We still have intense buying pressure here.