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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058171 times)
ishkur
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October 16, 2013, 05:04:45 AM
 #17601

So after months of missed deadlines and uncertainty, Labcoin still doesn't provide any proof of their legitimacy, and they start mining with hashing power that can be purchased with less than 5% of the IPO funds and everyone is happy.   Huh

Unbelievable!

For people want to sell their shares at higher price in a new exchange, this is a good news being waited for a long time. I would be excited too if I still had 10K shares, since that means I could finally have a chance to pass the hot potato to others.

What really surprises me is that how come there are still buyers willing to buy shares (Havelock PT) at IPO price. That's really beyond my comprehension.

Congratulates to those who bought a lot at the 0.0002 - 0.0004 range. You now have a big chance to double or triple your wealth (thanks to so many irrational buyers in BTC world).  

I have a boat load that I picked up @ .0001150

I look forward to playing this 2nd round of hot potato with you all Smiley

Round 3 will happen on cryptostocks once 796 gets shut down
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October 16, 2013, 05:09:44 AM
 #17602

3T now?
JimiQ84
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October 16, 2013, 06:05:03 AM
 #17603

3T now?

looks like 2,5TH/s. Still nice  Cool
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October 16, 2013, 06:10:23 AM
 #17604

3T now?

looks like 2,5TH/s. Still nice  Cool

It's below 2.5Th - the spikes up to 2.5 you see is just variance, or luck when hashing. It seems closer to 2.1 - 2.3.
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October 16, 2013, 06:13:00 AM
 #17605

I looked on 796 and CryptoStocks but no Labcoin, how are you guys buying and selling?
BitCsByBit
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October 16, 2013, 08:23:28 AM
 #17606


Blockchain.info

If you start with the dividend wallet 17psAW21J4twanAFWmbcd5WdX2pKeX3trm and follow the money, it takes you all the way to the IPO funds.

Expect to spend some time analysing it.

I found another 2,631.9077 BTC elsewhere, but it seems to be spent for some hardware. I'm waiting for a response regarding whom does that wallet belong to.

Potentially hardware labcoin promised for the mid October hash rate.



I posted the above details 9 days ago.

A few days ago E.Sam posted:

Quote
TheSeven and Fruitninja confirmed they've received payments from Labcoin from https://blockchain.info/address/1J3bLZrFdWwVE6kG9cojT5189N6Er2xHrm
Source: https://bitcointalk.org/index.php?topic=263445.msg3331343;topicseen#msg3331343

From the below transaction you can clearly see that the 1ovYFPS1HiGFMQVTB3vuWtnEpGvRxZ6H7 IPO wallet mentioned above and the 1J3bLZrFdWwVE6kG9cojT5189N6Er2xHrm wallet used to pay theSeven are related.
https://blockchain.info/tx/23a40ad1cf1b2c25018c33dd4ae8fa0856714d92085b9de0500b249fd8f8b17d


9 days ago, the 15p8MtnUt7qxLus7v6V5d61fDGRAX3tVTY wallet still had 2,735.5190632 BTC, but since then those funds have been spent/moved.


9 Oct - 2,653.5180632 BTC - went to 1AwJUKJsrTwPB92MhTEZ4m5jmKjSCZsNLv
http://blockchain.info/tx/7f996f149b2f602516cb526a9f5cfb7a2d27fcd90bb5f9276e7a899e4fc9cd5b

11 Oct - 2,643.5170632 BTC - went to 19Z6WwLtmhCT1xZyQAvnHg5tRKg24naeDS
http://blockchain.info/tx/ad453e87488eb128074b75ca4b0b4b8a94ed6569e63b79c66c2e6f5206b3bad4


11 Oct - 2,143.5070632 BTC - went to 1Db4b6Up7KhzCvrPCu3BgqugDEpH86EDm5
500 BTC went to 1ChUUPuiJByGTBFX12pXUwfzJ1ePspMvMy and then to Just-Dice
http://blockchain.info/tx/bc656cdaf03e528300a71fdba39ce0662cd0ad1eb6b1d7dba379a14c0742f4d8


11 Oct - 1,461.07586422 BTC - went to 1KFyiHGJRXRxT9TQiVuy12kdYtCiLmcnas
1,000 BTC went to 13cSk2UJwcZ3ch6xW1SqjDrFXGhjeuF13K then to Just-Dice
http://blockchain.info/tx/a32e281f2ecc10f2a675afa1cd2b7566a8b5f71d736590688ed2e7d03b2af83a


Final balance 1,461.07586422 BTC
http://blockchain.info/address/1KFyiHGJRXRxT9TQiVuy12kdYtCiLmcnas


tl;dr Most of the IPO funds ended up at Just-Dice. "Sam" is either a big gambler, or he is trying to launder the money!

EDIT: This breakdown is only for the last 9 days, but looking back I can see other transactions where the endpoint was Just-Dice.com Online Storage wallet.

EDIT 2: Fixed URL's

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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October 16, 2013, 08:27:06 AM
 #17607

tl;dr Most of the IPO funds ended up at Just-Dice. "Sam" is either a big gambler, or he is trying to launder the money!

Oh common BitCsByBit, dont be so mean. You give them false hope! Now they will think labcoin may win big on justdice and pay out 2x the IPO in dividends!
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October 16, 2013, 08:38:56 AM
 #17608




tl;dr Most of the IPO funds ended up at Just-Dice. "Sam" is either a big gambler, or he is trying to launder the money!



If it were exclusively between the two i would lean toward the latter. Him trying to wash the BTC so he can cover the trail in the blockchain, and get the coins to other addresses.
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October 16, 2013, 09:01:34 AM
 #17609

tl;dr Most of the IPO funds ended up at Just-Dice. "Sam" is either a big gambler, or he is trying to launder the money!

Oh common BitCsByBit, dont be so mean. You give them false hope! Now they will think labcoin may win big on justdice and pay out 2x the IPO in dividends!


If it were exclusively between the two i would lean toward the latter. Him trying to wash the BTC so he can cover the trail in the blockchain, and get the coins to other addresses.


Well, the evidence is there, and it is available for anyone to check.

I'll post the link here as it ended up on the bottom of the page:
https://bitcointalk.org/index.php?topic=263445.msg3347620#msg3347620

Edited.

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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October 16, 2013, 09:09:31 AM
 #17610

Just as I predicted. 796 is desperate in adding new assets.
If they are desperate, and they add an asset which turns out to be a scam, they'll likely be devastated after that.

1LohorisJie8bGGG7X4dCS9MAVsTEbzrhu
DefaultTrust is very BAD.
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October 16, 2013, 10:50:05 AM
 #17611

tl;dr Most of the IPO funds ended up at Just-Dice. "Sam" is either a big gambler, or he is trying to launder the money!

Oh common BitCsByBit, dont be so mean. You give them false hope! Now they will think labcoin may win big on justdice and pay out 2x the IPO in dividends!


If it were exclusively between the two i would lean toward the latter. Him trying to wash the BTC so he can cover the trail in the blockchain, and get the coins to other addresses.


Well, the evidence is there, and it is available for anyone to check.

I'll post the link here as it ended up on the bottom of the page:
https://bitcointalk.org/index.php?topic=263445.msg3347620#msg3347620

Edited.

Its a sure bet... i mean who knows better than Sam what will happen with Labcoin? He can even make bets true.
But this is not ok any way i look at it.
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October 16, 2013, 10:55:05 AM
 #17612

So after all this, people think Labcoin is more credible as they are hashing with 2.5 Terrahash which could easily be achieved with even buying 1000 blue furys which would cost 60k and they have listed on 796.com and labcoin refuses to let them come to the site. This is a joke, how long must a scam drag out for.

I have just pulled my money out of 796.com stock as i don;t want to be associated with an exchange hat allows an asset like labcoin to be featured. To me that makes 796.com just as shady, also 796 could lose its liscence and its game over. I hope your reading this owners of 796.com, your doing a HUGE mistake
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October 16, 2013, 10:59:21 AM
 #17613

@BitCsByBit
Someone mentioned that these are btc-hotwallet addresses. So i wonder how sure it is that labcoin owns these bitcoins or if it might be a differen btc-user.

I might have not been clear, maybe my point was lost.  I'll give it another try:
Assuming that there is a chip, or, at least, a maskset:

If mining with Labcoin's chips is profitable, and these chips could be assembled into miners rapidly (the whole thing scales easily), why do you think the other ASIC manufacturers, who have both proven & more efficient masksets, are not doing the same?  Other than having proven design, provably more efficient, why can't KNC order another run at their foundry, outsource boards & assembly, and just rake in the coin?  Concern for their customers?  Scruples?  Love of small-time miners?

Im not sure too. And i think that the other companies will bring hashpower online for sure. But labcoin, if its legit, and the newest just dice info doesnt really look like it for me, could bring hashpower online too. Its a fight between big companies. And since labcoin theoretically has an advantage with the price, at least against endusers, i think it could get a part in the networks hashrate. Of course the other companies will built too.

What im not so sure anymore is... if the many companies that own an asic design... will succeed. Even when they have a own design... at one point the companies will fight against each other. And i dont know how this will end.
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October 16, 2013, 11:32:04 AM
 #17614

Even if 1ovYFPS1HiGFMQVTB3vuWtnEpGvRxZ6H7 contained IPO funds, I'm not sure if you can conclude anything from that point on. BTCT moves the coins internally all the time?

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October 16, 2013, 11:41:50 AM
 #17615

tl;dr Most of the IPO funds ended up at Just-Dice. "Sam" is either a big gambler, or he is trying to launder the money!

Oh common BitCsByBit, dont be so mean. You give them false hope! Now they will think labcoin may win big on justdice and pay out 2x the IPO in dividends!


If it were exclusively between the two i would lean toward the latter. Him trying to wash the BTC so he can cover the trail in the blockchain, and get the coins to other addresses.


Well, the evidence is there, and it is available for anyone to check.

I'll post the link here as it ended up on the bottom of the page:
https://bitcointalk.org/index.php?topic=263445.msg3347620#msg3347620

Edited.

Another alternative is that the address is mislabeled and isn't just-dice at all.
BitCsByBit
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October 16, 2013, 12:05:54 PM
 #17616

@ SebJu

That suggestion was for 2 other wallets which received funds from the dividend wallet.

@ dex

That wallet contained a lump sum from the IPO.  7000 BTC - the fees. After the IPO BTCT would send those funds to Labcoin and not split it up internally.
Also that wallet is associated with the wallet that theSeven confirmed he was paid from for his services to Labcoin.
The amount, date and the association with a wallet we known belongs to Labcoin makes it highly plausible that these Bitcoins are owned by Labcoin, but only Burnside can confirm the truth.

@ BitCycle Huh. Really?

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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October 16, 2013, 12:16:26 PM
 #17617

That wallet contained a lump sum from the IPO.  7000 BTC - the fees. After the IPO BTCT would send those funds to Labcoin and not split it up internally.
Also that wallet is associated with the wallet that theSeven confirmed he was paid from for his services to Labcoin.
The amount, date and the association with a wallet we known belongs to Labcoin makes it highly plausible that these Bitcoins are owned by Labcoin, but only Burnside can confirm the truth.

Ahh, thanks! I thought 1ovYFPS1HiGFMQVTB3vuWtnEpGvRxZ6H7 was an internal BTCT wallet.

Could you outline the path from 1ovYFPS1HiGFMQVTB3vuWtnEpGvRxZ6H7 to the wallet Seven was paid from (1KRj8opQ5y3h2dw8FjnskxuVZ5qtu5Uuid)?

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October 16, 2013, 12:18:32 PM
 #17618

Regarding labcoin's mining gear. Though I already posted it here (and nobody paid any attention of course), 343 BTC from the IPO funds landed on 1FTspToTzXGHJCFkrryRAwmFaqAYQL7QVt address. If I understand this post and the whole thread in German correctly, that address received payments for EU ASICminer hardware sales in the past (YXT is ASICminer hardware reseller for EU).

This is a simplified representation of the path in blockchain:

[2013-08-01] 1ovYFPS1HiGFMQVTB3vuWtnEpGvRxZ6H7 6,940 BTC
[2013-08-08] 16UVuhyftaZtCrL2xLgz2GES5ZpUGVncHQ 4,296 BTC
[2013-08-26] 18317bfjBf4H6gyYWPNJ2yjjT5k7kjAUGx 4,260 BTC
[2013-09-16] 1PmSbeoo9ZC9F41vFYbEYZsCCfZdcVJ2xm 344 BTC
[2013-09-16] 1KbpxRKJibrbYe3o4RGcMCEzFtcgjGu8eh 343 BTC
[2013-09-19] 1FTspToTzXGHJCFkrryRAwmFaqAYQL7QVt 343 BTC

Funny is, that labcoin moved the money on 16th September and started hashing on 18th IIRC. One "new version" blade cost 5.3 BTC and one "old version" blade cost 4.895 BTC (with further discount for orders > 30 pcs), if you bought them from YXT at that time (reference). 343 BTC would be sufficient for ~70 old blades, with resulting hashrate of ~ 700 - 840 GH/s.

Strange coincidence, I'd say.


and the plot thickens.
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October 16, 2013, 12:21:34 PM
 #17619

tl;dr Most of the IPO funds ended up at Just-Dice. "Sam" is either a big gambler, or he is trying to launder the money!

Oh common BitCsByBit, dont be so mean. You give them false hope! Now they will think labcoin may win big on justdice and pay out 2x the IPO in dividends!


If it were exclusively between the two i would lean toward the latter. Him trying to wash the BTC so he can cover the trail in the blockchain, and get the coins to other addresses.


Well, the evidence is there, and it is available for anyone to check.

I'll post the link here as it ended up on the bottom of the page:
https://bitcointalk.org/index.php?topic=263445.msg3347620#msg3347620

Edited.

Another alternative is that the address is mislabeled and isn't just-dice at all.

Yes I'm sure that's it.. :p Cmon man, it's clear this guy has scammed us all, we should no longer hope to get any bitcoin back. The sooner we get over this, the sooner we can take further steps/let it slide/whatever..

BitCsByBit
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October 16, 2013, 12:46:47 PM
 #17620

That wallet contained a lump sum from the IPO.  7000 BTC - the fees. After the IPO BTCT would send those funds to Labcoin and not split it up internally.
Also that wallet is associated with the wallet that theSeven confirmed he was paid from for his services to Labcoin.
The amount, date and the association with a wallet we known belongs to Labcoin makes it highly plausible that these Bitcoins are owned by Labcoin, but only Burnside can confirm the truth.

Ahh, thanks! I thought 1ovYFPS1HiGFMQVTB3vuWtnEpGvRxZ6H7 was an internal BTCT wallet.

Could you outline the path from 1ovYFPS1HiGFMQVTB3vuWtnEpGvRxZ6H7 to the wallet Seven was paid from (1KRj8opQ5y3h2dw8FjnskxuVZ5qtu5Uuid)?

theSeven was paid from a different wallet 1J3bLZrFdWwVE6kG9cojT5189N6Er2xHrm
I'm on my phone now and the Blockchain is not working properly.
Check my post on the last page, all the details are there and you can see that the IPO wallet shares funds with this wallet.

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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