Bitcoin Forum
October 24, 2017, 08:21:10 AM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  

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.

Pages: « 1 ... 836 837 838 839 840 841 842 843 844 845 846 847 848 849 850 851 852 853 854 855 856 857 858 859 860 861 862 863 864 865 866 867 868 869 870 871 872 873 874 875 876 877 878 879 880 881 882 883 884 885 [886] 887 888 889 890 891 892 893 894 895 896 897 898 899 900 901 902 903 904 905 906 907 908 909 910 911 912 913 914 »
  Print  
Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1042582 times)
Bitcycle
Sr. Member
****
Offline Offline

Activity: 420


View Profile
October 17, 2013, 05:39:09 PM
 #17701

Since "Sam" keeps deleting TheSeven's posts, I think we can safely assume the next gen chips won't be designed by TheSeven.

Way to maintain those relationships, Sammy.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508833270
Hero Member
*
Offline Offline

Posts: 1508833270

View Profile Personal Message (Offline)

Ignore
1508833270
Reply with quote  #2

1508833270
Report to moderator
1508833270
Hero Member
*
Offline Offline

Posts: 1508833270

View Profile Personal Message (Offline)

Ignore
1508833270
Reply with quote  #2

1508833270
Report to moderator
Bitcycle
Sr. Member
****
Offline Offline

Activity: 420


View Profile
October 17, 2013, 05:58:38 PM
 #17702

"Sam" finally responded to some questions, mostly revealing he has not done the most basic planning for Labcoin.


It's pretty clear where this project stands.

Q:How many of the 20,000 chips in hand still remain to be deployed?
A:More than 60%
Q:On what date will all chips in hand be deployed?
A:To be determined
Q:What are the approximate running costs, per board or per terahash, of outsourcing and hosting (electricity, etc.)?
A:Did not run proper calculations yet
Q:Are the current chips profitable right now at the current difficulty? If so, what is the current profit margin?
A:Yes they are.
Q:What is the status of the next batch of chips? (the 130nm ones promised to use a thermally superior package)
A:We are considering a next batch.
Q:What is the status of the 65nm design? If it's still on hold, do you have anyone under contract to complete the design?
A:We are evaluating the candidates for this task.
Q:Have you secured exclusive access to the bitcoin wallet for IPO funds yet from Fabrizio? (If so, what address?)
A:Yes, address will be disclosed later
Q:When will you be in Shenzen next?
A:End of October.
Q:The network difficulty has risen 40% in the last few days, and is expected to rise sharply again in less than 12 days. Can you achieve 1% of global hashrate before the next difficulty change, and can you maintain that rate in the future?
A:Did not run proper calculations yet
Q:There have been a number of well-funded competing ASIC designers now producing real hardware, and difficulty is expected to continue rising at record high levels for the foreseeable future. At what difficulty will the existing Labcoin chips cease to be profitable given the known power and hosting costs?
A:Did not run proper calculations yet



Puppet
Legendary
*
Offline Offline

Activity: 966


View Profile
October 17, 2013, 06:19:07 PM
 #17703

I asked Luke-JR if he could check if the IP address that corresponds to labcoins account originates from either china or sweden (knc). The answer is neither.
I did not press him for where it did originate from (im guessing italy) since Im not sure if that would violate any privacy concerns, but thought this was worth mentioning.
Bitcycle
Sr. Member
****
Offline Offline

Activity: 420


View Profile
October 17, 2013, 06:28:14 PM
 #17704

I asked Luke-JR if he could check if the IP address that corresponds to labcoins account originates from either china or sweden (knc). The answer is neither.
I did not press him for where it did originate from (im guessing italy) since Im not sure if that would violate any privacy concerns, but thought this was worth mentioning.

My guess is it's vpn anyway. 
RAVENCROW
Full Member
***
Offline Offline

Activity: 169



View Profile WWW
October 17, 2013, 07:23:00 PM
 #17705

Sam where is the 3th?Huh

฿Allaboutbit ฿฿Cludcoin ฿[/color]
dhenson
Legendary
*
Offline Offline

Activity: 994



View Profile
October 17, 2013, 08:21:39 PM
 #17706

"Sam" finally responded to some questions, mostly revealing he has not done the most basic planning for Labcoin.


It's pretty clear where this project stands.

Q:How many of the 20,000 chips in hand still remain to be deployed?
A:More than 60%
Q:On what date will all chips in hand be deployed?
A:To be determined
Q:What are the approximate running costs, per board or per terahash, of outsourcing and hosting (electricity, etc.)?
A:Did not run proper calculations yet
Q:Are the current chips profitable right now at the current difficulty? If so, what is the current profit margin?
A:Yes they are.
Q:What is the status of the next batch of chips? (the 130nm ones promised to use a thermally superior package)
A:We are considering a next batch.
Q:What is the status of the 65nm design? If it's still on hold, do you have anyone under contract to complete the design?
A:We are evaluating the candidates for this task.
Q:Have you secured exclusive access to the bitcoin wallet for IPO funds yet from Fabrizio? (If so, what address?)
A:Yes, address will be disclosed later
Q:When will you be in Shenzen next?
A:End of October.
Q:The network difficulty has risen 40% in the last few days, and is expected to rise sharply again in less than 12 days. Can you achieve 1% of global hashrate before the next difficulty change, and can you maintain that rate in the future?
A:Did not run proper calculations yet
Q:There have been a number of well-funded competing ASIC designers now producing real hardware, and difficulty is expected to continue rising at record high levels for the foreseeable future. At what difficulty will the existing Labcoin chips cease to be profitable given the known power and hosting costs?
A:Did not run proper calculations yet




I thought that the chips to be delivered in October was a batch of 100,000 chips.  Was the 100,000 chips never actually ordered?
bitwhizz
Legendary
*
Offline Offline

Activity: 910



View Profile
October 17, 2013, 08:23:17 PM
 #17707

Someone made this (i think Qwerty)  

Interview with labcoin shareholder


http://www.youtube.com/watch?v=JfAwihDHS_A


ROFL  Grin !!!!!!!!!!!!!!!!!!
pedrog
Legendary
*
Offline Offline

Activity: 1596



View Profile
October 17, 2013, 08:32:43 PM
 #17708

Someone made this (i think Qwerty)  

Interview with labcoin shareholder


http://www.youtube.com/watch?v=JfAwihDHS_A


ROFL  Grin !!!!!!!!!!!!!!!!!!

This is hilarious!  Cheesy

Squirrel Dearing
Full Member
***
Offline Offline

Activity: 225



View Profile WWW
October 17, 2013, 08:33:51 PM
 #17709

Someone made this (i think Qwerty)  

Interview with labcoin shareholder


http://www.youtube.com/watch?v=JfAwihDHS_A


ROFL  Grin !!!!!!!!!!!!!!!!!!
That's hilarious!

SOSLOVE868
Sr. Member
****
Offline Offline

Activity: 378


View Profile
October 17, 2013, 08:37:17 PM
 #17710

Someone made this (i think Qwerty)  

Interview with labcoin shareholder


http://www.youtube.com/watch?v=JfAwihDHS_A


ROFL  Grin !!!!!!!!!!!!!!!!!!
That's hilarious!
merv77
Sr. Member
****
Offline Offline

Activity: 462


1.21 GIGA WATTS


View Profile
October 17, 2013, 09:22:08 PM
 #17711

Someone made this (i think Qwerty)  

Interview with labcoin shareholder


http://www.youtube.com/watch?v=JfAwihDHS_A


ROFL  Grin !!!!!!!!!!!!!!!!!!
That's hilarious!
i'm in tears...  Cheesy Grin Grin Grin Cheesy
who ever did this, THANKS, F'ing excellent...!
VolanicEruptor
Sr. Member
****
Offline Offline

Activity: 392



View Profile
October 17, 2013, 09:37:28 PM
 #17712

Someone made this (i think Qwerty)  

Interview with labcoin shareholder


http://www.youtube.com/watch?v=JfAwihDHS_A


ROFL  Grin !!!!!!!!!!!!!!!!!!

lol awesome

radiumsoup
Sr. Member
****
Offline Offline

Activity: 303


View Profile
October 17, 2013, 09:48:07 PM
 #17713

I thought that the chips to be delivered in October was a batch of 100,000 chips.  Was the 100,000 chips never actually ordered?
In the last IRC Q&A, he indicated there were 20,000 chips on hand. Don't know why there is a discrepancy, presumably these were "sample" chips and the full order was never placed after it was apparent there were thermal issues with the package. That seems to me like an awful lot of chips for a sample, though. *shrug*
JohnyBigs
Sr. Member
****
Offline Offline

Activity: 364


View Profile
October 17, 2013, 10:20:44 PM
 #17714

Well all my shares are on cryptostocks that is great, very simple and easy process. These guys did an amazing job of doing absolutely nothing to get everything set up.

We are hashing at about 3TH, Sam still sucks at communications but now it doesn't matter as the hardware is doing the talking.

Like I said before if he got lucky and actually the 3rd party people were competent than this might work out.

Anyway this is very good.
BitThink
Legendary
*
Offline Offline

Activity: 882



View Profile
October 17, 2013, 11:25:21 PM
 #17715

I wonder where the price is going to start on this.  

Anyone wanna take a guess?  I think it was last traded around .0001700 on btct.co


The price is decided by the market. You can put your bid/ask order at any price you want. If someone agrees on your price, it becomes the trading price.
NineLives
Sr. Member
****
Offline Offline

Activity: 252



View Profile WWW
October 17, 2013, 11:54:10 PM
 #17716

I received my email from cryptostocks.com.

Still, amy questions to be answered and I'm getting annoyed.

You are annoyed that you are getting your shares back on an exchange?


I feel that the shares back on an exchange is good news only if someone from Labcoin keeps us updated 'EVEN IF ITS A FAIL'.  Whats bugging me is NO ONE from Labcoin is answering important questions raised by share holders.  News from 796 isn't settling:

近几日我们按Samuel Noi向我们提供的香港公司注册文件及股东名册进行了调查分析,我们有以下疑问及需要证明的地方:

1、我们查到这家公司的董事名册上没有Samuel Noi,所以有没有这个人我们不确定。所以提出要这个人的身份证件。

2、这家公司是否授权Samuel Noi来负责这个股票转移的事,我们不确定。所以要求Labcoin出具授权书。

3、之前在bitcointalk上调查的关于Labcoin的一切,有证明Labcoin不诚实,所以我们要求跟Itec签订合同,约定我们提供服务,不对他们提供的信息作真实性保证。

4、根据股东名单,info@labcoin.com名下只有2005666股,跟他们在BTCT上承诺限售股2250000不符。

他们提供的证件是iTec-Pro Limited公司的,经我们调查,iTec-Pro Limited董事名册只有TATTI,FABRIZIO,护照号是YA2281***,董事名册上并没有Samuel Noi的名字。

另外,他们的公司注册地址是一间叫“亚洲商务”(http://www.asiabs.com/)提供的秘书代理注册。他们在香港无真实办公地址。

我们将等待Labcoin作进一步回应。


Translated:

By Samuel recent days we  have provided to us Noi Hong Kong company registration documents and the register of shareholders were investigated and analyzed, we have the following questions and the need to prove the place: one, we found a director of this company is not on the roster Samuel  Noi, so We're not sure there is no such person. Therefore proposed to the identity of this person. 2, the company is authorized Samuel  Noi to be responsible for the stock transfer thing, we're not sure. So they requested Labcoin issued authorization. 3, on the investigation before bitcointalk on Labcoin everything there is evidence Labcoin dishonest, so we requested to meet with Itec contract, agreed to provide services to us and they do not guarantee the authenticity of the information provided for. 4, according to the list of shareholders, info@labcoin.com name only 2,005,666 shares with them the promise in BTCT restricted shares 2,250,000 match. They offer documents are iTec-Pro  Limited Company, after our investigation, iTec-Pro  Limited directors register only TATTI, FABRIZIO, passport number is YA2281 ***, and there is no register of directors Samuel  Noi's name. In addition, they are a company registered address called "Asian Business" (http://www.asiabs.com/) provides secretarial proxy registration. They no real office address in Hong Kong. We will wait Labcoin further response.

SOURCE:  http://blog.sina.com.cn/s/blog_41b3e6f70101g9zy.html


Which means my 5k shares, irrelevant of where they are worth NOTHING if Labcoin doesn't prove their identity or prove that his chips are genuine and not mined using 3rd party equipment.  All the offices registered and even the name Sam Noi could be fake.  If he is unwilling to open the doors to anyone, then these numbers doesn't mean anything.. Doesn't matter where my shares are?  Sad

I don't think its a scam.  I think Labcoin has issues with hardware and their chips simply don't work and are buying time.  There approach is:  Keep the share holders happy by dividend that will buy them time to fix major hardware failures.  They have 0 concept in business and a pure geeks approach.  They can't tell us that this isn't working BUT have full intentions of making it work.

I do believe Sam Noi 'or who ever it is' are having sleepless nights and due to the amount of childish abuse they get on the forums, they don't want to respond with more fails but instead, once they have got it right, come back on the forums and smile with a 'I TOLD YOU SO'.  But that is unacceptable.  WE NEED TO BE UPDATED EVERY STEP OF THE WAY.

I could be wrong.  Time will tell.

Bitcoin Mining Hardware:   www.mininghardware.co.uk
BitCsByBit
Sr. Member
****
Offline Offline

Activity: 252


View Profile
October 17, 2013, 11:57:27 PM
 #17717

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

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!

1ChUUPuiJByGTBFX12pXUwfzJ1ePspMvMy and 13cSk2UJwcZ3ch6xW1SqjDrFXGhjeuF13K are addresses in the Just-Dice wallet.  They are user deposit addresses.  User deposits are regularly swept up and moved to the online storage address.  So both the above are simply direct deposits to Just-Dice.

You are right it seems.

doog mentioned seeing a deposit of 1,000 coins come in recently that was then withdrawn in smaller chunks, no gambling or invest made, which looked like a drive by laundering

Quote from: Just-DICE
09:46:56 (1) <dooglus> aah: "(1) <dooglus> so some guy deposited 1k BTC, then withdrew 25, 50, 10, 20, 40 in separate transactions to different addresses"
09:47:36 (1) <dooglus> so yeah, it happened

That was before this incident.

Did you see what happened to Just-Dice profits on Oct 11th?  Dates are UTC.



Hi dooglus,

thank you for confirming that the funds were received into the Just-Dice wallets.

However, I don't understand the significance of the graph. Can you please explain.

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
pedrog
Legendary
*
Offline Offline

Activity: 1596



View Profile
October 18, 2013, 12:04:27 AM
 #17718

Hi dooglus,

thank you for confirming that the funds were received into the Just-Dice wallets.

However, I don't understand the significance of the graph. Can you please explain.


Big profit?

bigpot
Newbie
*
Offline Offline

Activity: 3


BtMan


View Profile
October 18, 2013, 12:06:36 AM
 #17719

labcoin - 17psAW21J4twanAFWmbcd5WdX2pKeX3trm
3 hours   2,999.45 Gh/s   7542334
22.5 minutes   2,840.62 Gh/s   892866
256 seconds   3,064.79 Gh/s   182676
128 seconds   3,041.20 Gh/s   90635
 Grin
JohnyBigs
Sr. Member
****
Offline Offline

Activity: 364


View Profile
October 18, 2013, 12:09:01 AM
 #17720

labcoin - 17psAW21J4twanAFWmbcd5WdX2pKeX3trm
3 hours   2,999.45 Gh/s   7542334
22.5 minutes   2,840.62 Gh/s   892866
256 seconds   3,064.79 Gh/s   182676
128 seconds   3,041.20 Gh/s   90635
 Grin

this is all that matters, as long as this continues to grow.
Pages: « 1 ... 836 837 838 839 840 841 842 843 844 845 846 847 848 849 850 851 852 853 854 855 856 857 858 859 860 861 862 863 864 865 866 867 868 869 870 871 872 873 874 875 876 877 878 879 880 881 882 883 884 885 [886] 887 888 889 890 891 892 893 894 895 896 897 898 899 900 901 902 903 904 905 906 907 908 909 910 911 912 913 914 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!