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Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1041674 times)
nousfeed
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October 01, 2013, 06:06:37 AM
 #16621

Whats this investigation from Ukyo and Burnside mentioned?? You guys are so vague sometimes, its no wonder this thread is complete garbage.  Every time you post information, post sources, or links, or quotes... SOMETHING

Its amature hour here, most of these kids shouldn't be allowed to invest.
If this is a scam, I could have pulled a better scam than this, why wouldn't "Sam" just post blurry pics of a some chips? or Post some fake docs to "Prove" who he is?
It's all assumptions either way, look at what has been provided? next to nothing, If any half decent scammer would know is you want to push up the share price by providing what ever fake docs you can, it would cost a few hundred at best to produce some photo shopped pics of chips/ boards/ ID ect.

If this is not a scam and they can gain 1% of the network, ill be looking at a nice gain of ~50BTC, My little risk may or may not pay off.

quite the opposite, as soon as he provides any fake evidence it will be ripped to shreds by the community leaving him to explain faked evidence. If he doesnt release anything hes leaving it open to speculation and so he can continue the scam, because people like you still invest. Then when it all falls over theres 0 evidence he tried to scam by providing fake evidence.
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October 01, 2013, 06:14:05 AM
 #16622

Fabrizio then made a post under the Labcoin account and signed it with Sam's name.

So. We have two people behind the Skype account and two people behind the forum account.

That's not particularly surprising since the account is a company name.

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October 01, 2013, 06:15:48 AM
 #16623


The transcript indicates that Sam Noi is a real person that Fabrizio named as a director in his company for the project.

Fabrizio then made a post under the Labcoin account and signed it with Sam's name.


This means the transcript does NOT support the idea that they are the same person, but in fact does directly the opposite.



Where in that transcript does it indicate that Sam is a real person, and not a made up alias to divert the attention from Fabrizio.

Don't you remember that Fabrizio claimed that he had no knowledge of Labcoin operations, and this transcript proves that he is in charge.

Fabrizio is definitively providing conflicting information.




IM in contact with Fabrizzio using google+. Here is what I got so far after pinging him about labcoin:

Quote
Quote
Hello XXX I offer you my complete availability clarify this issue. First of all I would like to point out that I'm the only shareholder and director of ITEC PRO LIMITED and I've not authorized anybody to act as my spokesperson nor to rise funds using my company name.
were you aware this is happening?

Quote
My company has been used to request the production of the samples of the ASICS machines related to the labcoin project for which I've personally signed the documents. I'm not aware about any other action took in the name of my company and I release myself for any responsibility
that is pretty much what I expected. Do you know who "theswede75" is and "Samuel Noi"?

Quote
If I'm not wrong Samuel Noi is an hardware engineer who designed the asics
I have no idea who is behind the other nickname

no, that was howard wang
if you signed that purchase order, surely you know at least one of the people personally?
Here is thing; hundreds of people have most likely lost quite a significant amount of money on this. Your name is published, I wont be the last to ask these questions. I would urge you to make a public statement, preferably on bitcointalk.org
and disclose what you know
Quote

I've already enquired my collaborators about this issue and I will take action to stop any illegal action or fraud under my company name.
Yes you are right
I have nothing much to disclose. This is everything I know. I will enquire the project manager asking for explanation on this matter but I'm afraid I can't be very helpful

Being able to identify the people behind this would be extremely helpful. And frankly, probably needed to prevent legal action against you. Anyway, I wont take up more of your time, I am looking forward to a public posting of this.

Quote
I'm already receiving too many enquiries about this matter and to be honest I have no time to post on this forums where I don't even have a personal account registered
Use facebook?
trust me it will save you time, but no one is going to lieave you alone until the people who collected $1M have been identified

Yes I could be faking that, but Im not, and have no reason to. Feel free to ask him yourselves.



Don't you think that is very convenient that the only person so far identified is not going to be associated with labcoin :

I do confirm my identity as Samuel Noi, the team structure has changed since when the project started.
Howard Wang left the project in August and left for the U.S. to complete his studies and work there.
Michael Sparmann  has consulted for us and developed software for the 65nm interface and currently is in touch with me, awaiting for a chat with the new technical team.
The ownership of the company will be passed from Mr. Tatti to me during the next month.

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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October 01, 2013, 06:17:30 AM
 #16624

Is this Fabrizio's personal account: https://bitcointalk.org/index.php?action=profile;u=84350

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October 01, 2013, 06:31:10 AM
 #16625



Bid for 181350 shares at   0.0002000

If you want out, now's your chance to stop whining and do it.
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October 01, 2013, 06:36:55 AM
 #16626

this guy is online now, has someone contacted him..?

EDIT I sent him a message in italian asking for his help.. We'll see if he replies
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October 01, 2013, 07:11:21 AM
 #16627

I wonder what changed since then? There is probably only 7000 different reasons why transparency is no longer the key point.

Quote
Yep. they are.

Fabrizio Tatti is the majority shareholder and CEO of iTec-Pro Limited actually.

Cheers?

I'm surprised you gave honest answer  Smiley . I can see you are at least actually in location, and have not (yet) gone down route of asking for public preorder or investment request for early birds, So I will give this 'trolling' a rest and just keep eyes peeled.

Transparency is, and will remain a key point in our conduct.


Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
abuelau
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October 01, 2013, 07:18:45 AM
 #16628


How could you possibly know that this is his personal account?

Know what's happening in cryptoworld: www.coinschedule.com
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October 01, 2013, 07:32:09 AM
 #16629

Ukyo was in the chat later saying he was surprised Labcoin said that, and he seemed a bit puzzled by it. (re: Skype conversation with Labcoin)


The transcript indicates that Sam Noi is a real person that Fabrizio named as a director in his company for the project.


Good, then providing valid ID would be really easy. In fact, it would solve many of their problems instantly. Yet his response to proving his identity was: "We are looking into providing that as an option"

Honestly, I have lost 20BTC on it and have no bids and will never put bids on it any more.


Fabrizia has duped a lot of us, I lost five times as much.

You can't con an honest man.

It's time to own your personal responsibility for letting greed blind you to the truth.

Many people, myself included, warned you about LABscam (and ActiveScamming).

Our warnings were met with hostility and campaigns encouraging others to Ignore (IE shun) us.

 Grin  How's that working out for you?   Wink

Do you regret not heeding my advice, and refusing to

...wait for it...







...here it comes...






ALWAYS BET ON iCE...


....?     Cool


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
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kingcrimson
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October 01, 2013, 07:54:04 AM
 #16630

Ukyo was in the chat later saying he was surprised Labcoin said that, and he seemed a bit puzzled by it. (re: Skype conversation with Labcoin)


The transcript indicates that Sam Noi is a real person that Fabrizio named as a director in his company for the project.


Good, then providing valid ID would be really easy. In fact, it would solve many of their problems instantly. Yet his response to proving his identity was: "We are looking into providing that as an option"

Honestly, I have lost 20BTC on it and have no bids and will never put bids on it any more.


Fabrizia has duped a lot of us, I lost five times as much.

You can't con an honest man.

It's time to own your personal responsibility for letting greed blind you to the truth.

Many people, myself included, warned you about LABscam (and ActiveScamming).

Our warnings were met with hostility and campaigns encouraging others to Ignore (IE shun) us.

 Grin  How's that working out for you?   Wink

Do you regret not heeding my advice, and refusing to

What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.
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October 01, 2013, 08:09:47 AM
 #16631

Ukyo was in the chat later saying he was surprised Labcoin said that, and he seemed a bit puzzled by it. (re: Skype conversation with Labcoin)


The transcript indicates that Sam Noi is a real person that Fabrizio named as a director in his company for the project.


Good, then providing valid ID would be really easy. In fact, it would solve many of their problems instantly. Yet his response to proving his identity was: "We are looking into providing that as an option"

Honestly, I have lost 20BTC on it and have no bids and will never put bids on it any more.


Fabrizia has duped a lot of us, I lost five times as much.

You can't con an honest man.

It's time to own your personal responsibility for letting greed blind you to the truth.

Many people, myself included, warned you about LABscam (and ActiveScamming).

Our warnings were met with hostility and campaigns encouraging others to Ignore (IE shun) us.

 Grin  How's that working out for you?   Wink

Do you regret not heeding my advice, and refusing to

What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.


That was the blatant lie, that made all the lies after that so easy, for whoever is acting out this farce.

All efforts should be focused on securing any outstanding funds, and tracking real-world people down, or this episode becomes a template for future btc grabs.

Going forward, more KYI (Know Your Issuer) procedures need to be established, with particular attention within an IPO contract, pertaining to 'reporting/updates' and sanctions there-of.
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October 01, 2013, 08:16:59 AM
 #16632


What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.


What is amazing to me is that the whole thing implodes so slowly. The price was still above IPO when it was pretty obvious that this thing will not work. So anyone cautious enough had time to leave. It reminds me of the experiment when you can cook a frog alive if you heat up the water slowly, but if you do it rapidly, the poor creature just jumps out.
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October 01, 2013, 08:20:09 AM
 #16633

balabalabala...strong support around 0.0002-0.00023....someone want to pump up the price...LMAO
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October 01, 2013, 08:26:01 AM
 #16634

Quote
What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.

You really don't know, do you?   Embarrassed

*gets nasty feeling in pit of stomach*

Aww, man.  Now I have to feel genuine pity for you and I hate doing patronizing crap like that.   Undecided

1.  Due diligence.  Assign them zero credibility to start and only raise that value based on reputable sources.  If you haven't been here long enough resolve to abstain from securities until you know the lay of the land.

2.  Trust but verify.  Labcoin red flags include a lack of press releases from their physical layout partner and foundry.

3.  Know and respect your limits.  If you can't/don't grok something, keep your wallet closed.

4.  Don't chase yield, don't be a herd animal.  Don't follow the crowd into anything because the smart money already cashed out and is drinking champagne at the expense of dumb money.

5.  Read MP's blog at Trilema for more tips on 'How-to not being a sucker.'

6.  Valuable lessons are always (and necessarily) expensive.  Salvage experience when all else goes to zero.

Sorry for your loss.   But you're young and have lots of time to make it up.   Cool


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█████████████████████████
██████████████████████
█████████████████
██████████

Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
Buy XMR with fiat
stereotype
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October 01, 2013, 08:29:24 AM
 #16635


What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.


What is amazing to me is that the whole thing implodes so slowly. The price was still above IPO when it was pretty obvious that this thing will not work. So anyone cautious enough had time to leave. It reminds me of the experiment when you can cook a frog alive if you heat up the water slowly, but if you do it rapidly, the poor creature just jumps out.

I think a contributing factor in the slow implosion, was the well rehearsed and contrived 'updates' from TheSwede and Labcoin.

It would be very churlish to rake over what people should have realised and noticed. So if anything positive can be salvaged, it should at least be used, so as to head-off any future farces like this. Thats if people actually give a shit, of course.
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October 01, 2013, 08:42:09 AM
 #16636

I think many people, including me, did not take this as a pure investment.

We at least to some extent want to make fast money by taking the ride of the pump and dump, which was usually caused by a promise with precise date and then an update came later.

Therefore, even people realized it is definitely not a company can be trusted, they still stayed because of its high volatility. I believe that a lot of people still haven't left due to the same reason.
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October 01, 2013, 08:50:28 AM
 #16637

 Cheesy with every update some people get rich, more crying. It's a gamble guessing other's emotions.

I think many people, including me, did not take this as a pure investment.

We at least to some extent want to make fast money by taking the ride of the pump and dump, which is usually caused by a promise with precise date and then an update comes later.

Therefore, even people realized it is definitely not a company can be trusted, they still stayed because its high volatility. I believe that a lot of people still haven't left due to the same reason.
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October 01, 2013, 09:01:23 AM
 #16638

Quote
What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.

You really don't know, do you?   Embarrassed

*gets nasty feeling in pit of stomach*

Aww, man.  Now I have to feel genuine pity for you and I hate doing patronizing crap like that.   Undecided

1.  Due diligence.  Assign them zero credibility to start and only raise that value based on reputable sources.  If you haven't been here long enough resolve to abstain from securities until you know the lay of the land.

2.  Trust but verify.  Labcoin red flags include a lack of press releases from their physical layout partner and foundry.

3.  Know and respect your limits.  If you can't/don't grok something, keep your wallet closed.

4.  Don't chase yield, don't be a herd animal.  Don't follow the crowd into anything because the smart money already cashed out and is drinking champagne at the expense of dumb money.

5.  Read MP's blog at Trilema for more tips on 'How-to not being a sucker.'

6.  Valuable lessons are always (and necessarily) expensive.  Salvage experience when all else goes to zero.

7.  Do NOT invest in a company which uses ICE in it's name.

Sorry for your loss.   But you're young and have lots of time to make it up.   Cool

Thaur ye gang, fixed it fur ye .

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October 01, 2013, 09:12:46 AM
 #16639

I think this is the current email address of Fabrizio Tatti: bannet@tiscali.it

From http://www.linkedin.com/company/itec-pro-limited
we got
http://i-tec.pro website

This is i-tec.pro whois
http://whois.domaintools.com/i-tec.pro

Now go to Facebook and use bannet@tiscali.it in the search bar, you'll get https://www.facebook.com/fabrizio.tatti



BTC: 1LVzxHuyHjCgoTYggmNVNswdLK7yWsy78y
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October 01, 2013, 09:15:32 AM
 #16640

does anyone call this no ?

Billing Name:Fabrizio Tatti
Billing Organization:I-Tec
Billing Street2:Haiyi Dasha 1916
Billing City:Zhuhai
Billing State/Province:Guangdong
Billing Postal Code:519000
Billing Country:CN
Billing Phone:+1.8618675622206

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