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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1042124 times)
zefyr0s
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October 08, 2013, 02:07:42 AM
 #17001

Maybe in the sense that he was deliberately picked as a scapegoat, crimson.
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JohnyBigs
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October 08, 2013, 02:14:47 AM
 #17002

we'll see what happens after the 15th, until then it would be nice if the Swede came here and posted something wtf lol
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October 08, 2013, 02:15:26 AM
 #17003

What actions we could do on Fabriazio and Allessia Tatti? We cannot just let them to be there enjoying their success.

We should do a group buy for pitchforks.
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October 08, 2013, 02:16:22 AM
 #17004

hi again guys

i see theswede did came online few hours back, but he posted nothing, i assume his usual, "i got no update info from them"


TheSwede is in deep water. He is slowly realizing it is a scam and backing away silently. Rather than working with us to figure it all out, he is taking the cowards route.

He was in touch with us today, actually. He is acquiring the list of shareholders from Burnside to being a move away from BTCT. To where we still don't know...

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JohnyBigs
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October 08, 2013, 02:17:01 AM
 #17005

What actions we could do on Fabriazio and Allessia Tatti? We cannot just let them to be there enjoying their success.

We should do a group buy for pitchforks.

Well if Sam/Fabrizio disappears, we can report them to the SEC, so they can get fucked and extradited nicely.
ishkur
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October 08, 2013, 02:33:02 AM
 #17006

What actions we could do on Fabriazio and Allessia Tatti? We cannot just let them to be there enjoying their success.

We should do a group buy for pitchforks.

Well if Sam/Fabrizio disappears, we can report them to the SEC, so they can get fucked and extradited nicely.

We have a lot of options available.   Some good ideas were brought up.
bitmoon
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October 08, 2013, 02:40:50 AM
 #17007

What actions we could do on Fabriazio and Allessia Tatti? We cannot just let them to be there enjoying their success.

We should do a group buy for pitchforks.

Well if Sam/Fabrizio disappears, we can report them to the SEC, so they can get fucked and extradited nicely.

so next is wait until 15th october, if something good, then cool, if nothing, then truth has to go down our throat.

next we not wait, but see what happens on 30th october, when he told us long time ago to wait until 30th oct.

if nothing, then scam thing is materialized.  to hell wait the december thing for 500T lol.

jeez, Theseven if u reading, why not help us after 1st promise broke n so on, u know u experience same bad communication with them,  why not help us get out sooner or atleast make us to make share valued lower due to the risk sooner.

if u liked working on 65nm for labcoin, is that why u not help us?  now from QA labcoin halted 65nm development, so he technically put u off work?

why not resign working for them and alert us, this has griefed so many investors.

man, theseven, i invested cuase i saw your name in contract tab in team, lol, cuase u r legit.
bitmoon
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October 08, 2013, 02:55:56 AM
 #17008

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.  

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.

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October 08, 2013, 03:32:54 AM
 #17009

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.  

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.



Most of us already figure out that labcoin recruited developers from odesk as Howard said.
Without solid proofs that they are competent to tape out what we anticipated, I won't trust labcoin again.
BitThink
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October 08, 2013, 04:05:57 AM
 #17010

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.  

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.



2 million shares to 0.0001, not 0. Really surprised so many people still want to throw their BTCs away.

No matter what they do now, we have to accept the following facts.
1) They hadn't found a foundry on 20 Aug. But they claimed they received the chips on 28 Aug and posted the photo of chips on 29 Aug.
2) They claimed they were hashing at 2TH on 10 Sep, but only admitted the real hashing rate was only 800GH after 3 weeks.
3) Nothing promised in IRC chat has been done after more than one week.

Do you still want to pump the price so that you could pass your hot potatoes to the last victims? Then you are not so different from them at all.
drawingthesun
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October 08, 2013, 04:49:23 AM
 #17011

Did we ever get to the bottom of the 800GH/s? Was it Labcoin chips after all?
bclcjunkie
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October 08, 2013, 05:50:03 AM
 #17012

+1 come on guys have some ethics this shit stock aint worth pumping and passing it around...

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.  

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.



2 million shares to 0.0001, not 0. Really surprised so many people still want to throw their BTCs away.

No matter what they do now, we have to accept the following facts.
1) They hadn't found a foundry on 20 Aug. But they claimed they received the chips on 28 Aug and posted the photo of chips on 29 Aug.
2) They claimed they were hashing at 2TH on 10 Sep, but only admitted the real hashing rate was only 800GH after 3 weeks.
3) Nothing promised in IRC chat has been done after more than one week.

Do you still want to pump the price so that you could pass your hot potatoes to the last victims? Then you are not so different from them at all.
drawingthesun
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October 08, 2013, 06:11:06 AM
 #17013

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.  

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.



Do you want to know what the most likely case is?

They have been buying shares back for a while now and have no need to dump. Most of the investors have already got out even taking huge loses.

At the end of this saga, they will own 95% of the company and have several thousand Bitcoin to spare (as they started to buy back shares after they fell past IPO price)

Once they have drawn this out for long enough they will offer the small amount of remaining shareholders a buyback price. Only a few hundred thousand shares will remain and it will stop the witch hunt that might follow.

Think about it, now they don't need to worry about 95% of the shareholder because only a few remain. They are the majority shareholder. They could even pay out 100% of remaining funds NOW to the shareholders and they would in effect pay off the 5% of real shareholders left and they get the rest.

Not bad for a few months work (3000 - 6000 bitcoin left)

Remember IPO funds were for 65nm, and we never even got the legacy 130nm to work.

EDIT: I doubt the bagholders will see this as I am on their ignore list after telling people to sell at 0.002
BitThink
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October 08, 2013, 06:18:43 AM
 #17014

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.  

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.



Do you want to know what the most likely case is?

They have been buying shares back for a while now and have no need to dump. Most of the investors have already got out even taking huge loses.

At the end of this saga, they will own 95% of the company and have several thousand Bitcoin to spare (as they started to buy back shares after they fell past IPO price)

Once they have drawn this out for long enough they will offer the small amount of remaining shareholders a buyback price. Only a few hundred thousand shares will remain and it will stop the witch hunt that might follow.

Think about it, now they don't need to worry about 95% of the shareholder because only a few remain. They are the majority shareholder. They could even pay out 100% of remaining funds NOW to the shareholders and they would in effect pay off the 5% of real shareholders left and they get the rest.

Not bad for a few months work (3000 - 6000 bitcoin left)

Remember IPO funds were for 65nm, and we never even got the legacy 130nm to work.

EDIT: I doubt the bagholders will see this as I am on their ignore list after telling people to sell at 0.002
Actually now you are suggesting people to hold the shares in the hope of they finally refund them. Not a bad idea, but that really needs a lot of pressure from the community. They will not refund if not being pushed hard enough.
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October 08, 2013, 06:21:34 AM
 #17015

Actually now you are suggesting people to hold the shares in the hope of they finally refund them.

Actually I am not suggesting to hold the shares, if this is a scam I expect a buyback at some point but I doubt it would be anything significant. Think of Labcoin and Active Mining as a stupid tax.

I would think a reasonable buyback at 0.0001 otherwise they are just giving bitcoin away.

Disclaimer: I held Labcoin and sold, but I also hold Active Mining and am one of the "stupids" unfortunately Sad

EDIT: remember the buyback amount depends on how many shares they have acquired using other accounts. If I am wrong and they hold less than 95% of shares, then the buyback would have to be far less than 0.0001 to make the scam worthwhile. If they hold 99%, they might just not bother with a buyback at all because not enough people will be left to complain.

Labcoin owns 99% shares, reasonable buyback = 0 (no point, not enough share holders to complain)
Labcoin owns 98% shares, reasonable buyback = 0.00015
Labcoin owns 95% shares, reasonable buyback = 0.0001
Labcoin owns 90% shares, reasonable buyback = 0.00005
Labcoin owns 80% shares, reasonable buyback = 0.00001

BitThink
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October 08, 2013, 06:22:14 AM
 #17016

Moreover, even they buyback all the shares at current price. They are still guilty and the witch hunting should not stop at all. We should not tolerate any scam if we want a better bitcoin world.
drawingthesun
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October 08, 2013, 06:26:09 AM
 #17017

Moreover, even they buyback all the shares at current price. They are still guilty and the witch hunting should not stop at all. We should not tolerate any scam if we want a better bitcoin world.

But ask yourself, who has shares left? Almost everyone is gone and has moved on. Only the last shareholder might complain.
BitThink
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October 08, 2013, 06:27:00 AM
 #17018

Actually now you are suggesting people to hold the shares in the hope of they finally refund them.

Actually I am not suggesting to hold the shares, if this is a scam I expect a buyback at some point but I doubt it would be anything significant. Think of Labcoin and Active Mining as a stupid tax.

I would think a reasonable buyback at 0.0001 otherwise they are just giving bitcoin away.

Disclaimer: I held Labcoin and sold, but I also hold Active Mining and am one of the "stupids" unfortunately Sad

I don't think Labcoin is similar to ActM. ActM at least has a contract with eAsic and it's possible for them to get real chips and build real mining rigs. Labcoin is just one-man keeps lying.
bclcjunkie
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October 08, 2013, 06:29:08 AM
 #17019

correct... and if that buyback materializes then it's considered deliberate act and would cause even more revolt.. they are already liable for my share losses and i'd hold their asses even more liable for making me sell shares at a loss so that they could buy them back... doesn't make sense to me...

Moreover, even they buyback all the shares at current price. They are still guilty and the witch hunting should not stop at all. We should not tolerate any scam if we want a better bitcoin world.
drawingthesun
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October 08, 2013, 06:29:20 AM
 #17020

I don't think Labcoin is similar to ActM. ActM at least has a contract with eAsic and it's possible for them to get real chips and build real mining rigs. Labcoin is just one-man keeps lying.

They are different, Labcoin is 99% a scam and ActiveMining is just too far behind.

ActiveMining was meant to have several TH/s in August, we are that far behind now.

EDIT: In fact Labcoin had more hashpower than ActM at one point.
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