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

[JohnyBigs]

any news now?

no besides that Fabrizzio admitted to be Sam, and Howard Wang did a Q/A which showed that Labcoin lied and has no chips at all.

[1714045636]

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[1714045636]

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[lzr1900]

hehe..no updates.our stocks is going to be some fuckin air...

[Bitcycle]

It's been 5 days since this list was posted.

Unfortunately, no action items have been completed.

The list remains as it is.  I am including some suggestions added by the community, though it is important to note that these have not been agreed to by Mr. Noi.

I am PMing a reminder copy to Mr. Noi as soon as this is posted.

NOTES FROM THE Q&A

INCLUDING A TO-DO LIST FOR SAMUELE NOI.

I am PMing a copy of this to-do list to the Labcoin account as a reminder of the action items from this session.

I am also asking Mr. Noi to inform us when these items are completed.

Actions for the next 24 hours.

• Skype session with Ukyo regarding Bitfunder listing
• Posting to the forum the amount of BTC left in the company funds.
• Change pool to Eligius
• Make the labcoin portfolio public on BTCT

Other actions to complete ASAP

• Verification of ID.  A good start would be writing "I am Samuele Noi of Labcoin" and the date on a piece paper, and photograph yourself holding it.
• Photos of the hosting facilities as well as the operational boards
• Send a sample board to TheSeven.  This should be done immediately as the sooner he gets the board the sooner he can provide advice. Delays have a direct cost.
• Exact power consumption figures for the chips/boards

Actions for the community to complete ASAP

• Nominate a panel of community representatives to work closely with Samuele. This should be done immediately. We complain about delays from Sam, let's not do what we criticize him for.

Suggested additional items from the community

• Meet with a shareholder in person in Shenzhen / Hong Kong. Lunch/coffee/tea meeting etc.  Merv77 has indicated that he will be in town and available Oct 23 - Nov 11. An in person meeting with a third party could soothe a lot of anxieties.
• Provide a full accounting for all money spent so far.  A spreadsheet showing expenses and dates would be ideal.

THIS LIST WILL BE REPOSTED DAILY WITH ITEMS CHECKED OFF AS THEY ARE COMPLETED

[JohnyBigs]

hehe..no updates.our stocks is going to be some fuckin air...

BTCT closing in 2 minutes or sometime tomorrow. No new exchange, no communication since.

[drawingthesun]

Labcoin now almost 10 times less than IPO.

[JohnyBigs]

http://www.reddit.com/r/Bitcoin/comments/1nke2k/an_overview_and_update_of_the_labcoin_scam/

<agath> who are you? <route69> Fabrizio Tatti <route69> the owner of iTec Pro Limited, behind Labcoin <route69> this is the official presentation, here I am writing, but with the name of the nominee director (Samuel Noi) that I took the company in Hong Kong <route69> because I want to avoid direct exposure, various risks, etc.

[Bitcycle]

Howard has reported that he never turned over the the design files for the chip to Labcoin.

Without the design files, they could not have manufactured his chip.

What are they hashing with?

[JohnyBigs]

Howard has reported that he never turned over the the design files for the chip to Labcoin.

Without the design files, they could not have manufactured his chip.

What are they hashing with?

a few avalons, or renting hashers

[JohnyBigs]

It's officially the 7th BTCT can close any time now, the scary part now starts, what will happen with my already worthless shares.

[Bitcycle]

Who exactly was labcoin_dev who participated in the IRC Q&A?

They reported they were Howard Wang's assistant, but Howard Wang has said he has no idea who they are.

Please explain this discrepancy and provide their full identity, including their name. 

[ShroomsKit]

Who exactly was labcoin_dev who participated in the IRC Q&A?

They reported they were Howard Wang's assistant, but Howard Wang has said he has no idea who they are.

Please explain this discrepancy and provide their full identity, including their name. 

Newsflash: it's a scam and they are gone.

[BitCsByBit]

So a week ago labcoin confirmed that Howard Wang moved on and that they are looking for his replacement, but now we get a confirmation from Howard himself that he never finalised the chip design, and that he left more than a month ago.

So labcoin has been looking to replace him for over a month?! No tapeout for the 130nm chip?!  WTF!

[ishkur]

They won't get far.

I'm sure they fucked over some Chinese people that are easily within reach of them

[Bitcycle]

Less than 24 hours until trading halts on BTCT and we have no information regarding a new exchange.

There are many, many new questions that need to be cleared up before an exchange will list this stock.

Please provide an immediate full update on the status of finding a new exchange.  Be detailed.

Time is of the essence on this issue.  Delays of any sort are harmful to shareholders and share value.

[dwdoc]

What share value?

[TsuyokuNaritai]

Any comment on the email responses from Howard Wang that were posted to IRC and reddit in the last few days?

Are they genuine?

[Bitcycle]

Howard's story- http://pastebin.com/rQfbUA8d

TheSeven has contacted Howard and confirmed that this email came from him.

Please explain this sentence in particular- "But, the chip has never been actually taped out."

What are you hashing with, Labcoin?

[drawingthesun]

Someone just bought 10,000 shares.

Not sure what illness that person has, its probably serious.

[BitThink]

I think now people buy shares just to bet there's a slight chance they will buy back all shares with remaining BTC, if they are pushed hard enough.

[drawingthesun]

I think now people buy shares just to bet there's a slight chance they will buy back all shares with remaining BTC, if they are pushed hard enough.

Do we know who holds the 7,000 bitcoin or what's left of it?