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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
Alphi
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October 18, 2013, 12:39:53 PM
 #17741


I disagree. The hash chart suggests they have ~600GH mining consistently (10 avalons or whatever) and what they added recently is often being shut down or redirected to another pool for whatever reason (installing/relocating/electrical problems/network problems..) but not likely due to the asics. For Labcoin to achieve that hashrate with their own chip, they would have to be running thousands of chips, so hundreds of blades/devices. Even if they have a problem, those arent going to magically fail and resume working together. Nor that one would expect them to have come online all together in a matter of minutes.


yeah ill agree that its all just speculating at the moment but what I meant was... (and I can speak with some degree of experience here having worked in a data center for 4 years) depending on how your servers or hashing boxes are deployed cascaded failures can occur due to over heating.

if for example a person with little experience tries to cram as much computing power into one rack as they can without considering the BTU output (heat) and without providing adequate ventilation (aircon) then hot air can build up around the rack and cause everything in the rack to overheat, this in turn causes ALL of the fans to go into overdrive to try and suck out all the hot air...  If the fans cant suck out the hot air fast enough OR the FANS + Processors end up sucking too much power then this can cause the UPS or power circuit to trip or even a thermal cut off to trigger..

these problems are generally more a symptom of poorly deployed systems rather than poorly designed chips but they aren't helped if one doesn't understand the kind of heat output and power draw that a chip uses when running at full blast. these kinds of problems are also not helped by the fact that Shenzen and Hongkong are in a densely populated sub tropical region so the ambient room temperature is usually very high.

now when we have 600 GH running consistently and then 2.4TH running intermittently.. this could be caused by many many things as you so rightly pointed out... It could also be that the 600GH is located in a different room/location... to the other 2.4TH... the 2.4TH could be shutting down due to the simple fact of hot air building up in the room.. and after a few hours (as shown on the graph) the room could be cool enough to fire everything back up again... so yes I do agree that this is not a 100% certainty that these are new chips causing the drop outs but it also cant be ruled out...

PS considering these guys don't even have an office... I wouldn't be surprised at all if they were trying to run the farm out of their bedrooms...

PPS there is one way to test this theory.. one could simply look at the times that the systems are shutting down... (HK time not mining pool time) and then see if the miners are shutting down during daytime (when its hotter) or just randomly... if there is a correlation between outside temperatures and shutdowns then bingo you have a smoking gun.... but hey i'm too lazy analyze the data further... just throwing it out there if anyone is keen. If the shutdowns are occurring at regular intervals then this too can be related to heat output (because heat builds at a constant rate if everything else is constant, hash power, room size etc)... but if they are occurring randomly then it probably is, as you suggested, due to power, network or manual tweaking problems.



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Bitcycle
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October 18, 2013, 01:19:18 PM
 #17742


Sounds like Labcoin has a problem where their VHDL ADC multiplexer isn't working with eligius's content aggegator.

(That sentence makes as much sense as what Sam actually said)
Alphi
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October 18, 2013, 01:35:29 PM
 #17743


Sounds like Labcoin has a problem where their VHDL ADC multiplexer isn't working with eligius's content aggegator.

(That sentence makes as much sense as what Sam actually said)

yep that ones got me stumped...

I wonder if they are using their own custom mining software or something off the shelf like BFG

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Puppet
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October 18, 2013, 01:53:08 PM
 #17744

PPS there is one way to test this theory.. one could simply look at the times that the systems are shutting down... (HK time not mining pool time) and then see if the miners are shutting down during daytime (when its hotter) or just randomly... if there is a correlation between outside temperatures and shutdowns then bingo you have a smoking gun.... but hey i'm too lazy analyze the data further... just throwing it out there if anyone is keen. If the shutdowns are occurring at regular intervals then this too can be related to heat output (because heat builds at a constant rate if everything else is constant, hash power, room size etc)... but if they are occurring randomly then it probably is, as you suggested, due to power, network or manual tweaking problems.

I dont see the point in theorizing  over the location and the problem of their hypothetical chips based on when then they pull the plug or change the pool. As long as labcon doesnt provide clear proof to the contrary, even their existence is as likely as that of 10 feet tall green martian aliens.
bitmoon
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October 18, 2013, 02:15:14 PM
 #17745

they could have bought 2nd hand chips. in other words a company that dumped a bag of chips which are for testing or half defective but works 80%

you know china, how manufacturing quality is,  just go try and buy a power supply 1000w for computer from them for cheap, after couple of weeks it will explode
Bitcycle
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October 18, 2013, 02:36:50 PM
 #17746


There's no hope of a 65nm chip. Even if there's enough money left, "Sam" is not capable of managing and guiding the process. He has no technical expertise whatsoever and is in completely over his head.  He doesn't even understand the questions being asked of him and his responses are pure nonsense.




Nathaniel B
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October 18, 2013, 03:09:25 PM
 #17747

Sounds like it is time for us to focus on one message: "return the remaining IPO funds now."

We all knew the risks going in and one of those risks was poor management. If labcoin gives a reasonable account for spent coins and returns the rest to shareholders, then this will end as well as it can at this point. If not, I suggest those in China/Hong Kong start the process of reporting to law enforcement as a scam. I think we just need to stay on message: "return the remaining funds immediately, liquidate assets, and close down or prepare to face fraud charges."

They have had plenty of time to explain with evidence, but have chosen not to. All the speculation in this thread both towards worst outcomes and best outcomes will just distract and give labcoin more time to mess around making the situation worse.

I'll start.

Labcoin return the remaining funds immediately and close down or prepare to face fraud charges.

Nathaniel
I'm always interested in new cool ideas! Just PM me.
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bitmoon
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October 18, 2013, 03:11:48 PM
 #17748

for a second thought, i think he never even traveled when he said, he is in italy etc. properly buying himself time for bought asics perhaps knc?

reading alphi post, gave me bit more sense thats why.

my big alarm started ringing when he missed the 20TH that wont be missed by 15oct, it feels like sam is different time dimension that is very slow, and he deployed 2TH this week that was promised 2 month ago which he failed

JohnyBigs
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October 18, 2013, 03:14:47 PM
 #17749

why does the hashrate drop on eligius and spike all the time? I don't mean the short term drops and spikes, im talking about the big ones that last a while.
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October 18, 2013, 03:19:57 PM
 #17750

why does the hashrate drop on eligius and spike all the time? I don't mean the short term drops and spikes, im talking about the big ones that last a while.

https://bitcointalk.org/index.php?topic=312830.msg3361908#msg3361908

bitmoon
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October 18, 2013, 03:20:35 PM
 #17751

why does the hashrate drop on eligius and spike all the time? I don't mean the short term drops and spikes, im talking about the big ones that last a while.

not very sure, say yesterday it was steady at 3TH, next day it started go yoyo,  my thinking tells me overheating? automatic shutdown and reboot when it cools? and in cramped room with poor ventilation.

meh, i dont know if labcoin did there own software for asic, but how can they make a software, if never tapeout,  there was no mention the outsource team did the software.

labcoin is still 1 man team, and he aint programmer or electronic engineer. he said it himself in QA
JohnyBigs
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October 18, 2013, 03:29:07 PM
 #17752

why does the hashrate drop on eligius and spike all the time? I don't mean the short term drops and spikes, im talking about the big ones that last a while.

https://bitcointalk.org/index.php?topic=312830.msg3361908#msg3361908

Thanks didn't know there was a whole new thread lol, at least it's nice seeing the Labcoin name reply lol
bitmoon
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October 18, 2013, 03:31:04 PM
 #17753

Someone made this (i think Qwerty)  

Interview with labcoin shareholder


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


ROFL  Grin !!!!!!!!!!!!!!!!!!

my god, i lol-ed so hard, love it. it feels like real
JohnyBigs
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October 18, 2013, 03:31:46 PM
 #17754

Ohh Sam Coyotee, "Given the sheer amount  of false informations posted in the original IPO discussion we are forced to self moderate this thread and lock the original one."

Another missed deadline, if Sam was a scammer he's the worst one I have ever seen in history of man kind lol.
bitmoon
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October 18, 2013, 03:41:14 PM
 #17755

why does the hashrate drop on eligius and spike all the time? I don't mean the short term drops and spikes, im talking about the big ones that last a while.

https://bitcointalk.org/index.php?topic=312830.msg3361908#msg3361908

Thanks didn't know there was a whole new thread lol, at least it's nice seeing the Labcoin name reply lol

i have feeling to say something to you johnyBigs.

before the whole mess, you was defending labcoin from the fudster and trolls, and i was a noob and with no account in the forum since that time, i liked you.

after labcoin turned out to be biggest troll/fud as in breaking too much promise aka lying, your color changed, and you turned against labcoin with big bold letters and red text "scam" etc,  i really panic-ed hard, knowing you as supporter before.

now you are becoming almost a supporter slowly, maybe you picked cheap shares?

i know who cares and so on, but as a noob i find you as two faced,  if i compare you with dhenson,he kept his foot strong, never seen him change color, i liked his post from ipo till today.
JohnyBigs
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October 18, 2013, 03:59:04 PM
 #17756

why does the hashrate drop on eligius and spike all the time? I don't mean the short term drops and spikes, im talking about the big ones that last a while.

https://bitcointalk.org/index.php?topic=312830.msg3361908#msg3361908

Thanks didn't know there was a whole new thread lol, at least it's nice seeing the Labcoin name reply lol

i have feeling to say something to you johnyBigs.

before the whole mess, you was defending labcoin from the fudster and trolls, and i was a noob and with no account in the forum since that time, i liked you.

after labcoin turned out to be biggest troll/fud as in breaking too much promise aka lying, your color changed, and you turned against labcoin with big bold letters and red text "scam" etc,  i really panic-ed hard, knowing you as supporter before.

now you are becoming almost a supporter slowly, maybe you picked cheap shares?

i know who cares and so on, but as a noob i find you as two faced,  if i compare you with dhenson,he kept his foot strong, never seen him change color, i liked his post from ipo till today.

Honestly Bit,

I got so fed up with all the FUD, it was like fighting an uphill battle. Got pissed off at the morons who can't think logically and dump their shares at 60% losses, so I joined the FUD train pretty much out of anger to these idiots, if they are going to sell anyway I might as well speed up the process and double my shares, which I did.

I mentioned it before that I was just fudding for that very reason. Should I have done that I guess not, but again the people who sold out were clearly not normal.

I still support Labcoin clearly, or else I wouldn't have bought more shares, or I would of sold at .004's and .003's, I think Sam is completely incompetent, so that's why I make fun of him still lol.

Other than that I never supported Labcoin 100%, in the beginning I came on here asking serious concerns which I was lynched for, If people actually started investigating in the beginning like i tried but was just abused for it, there wouldn't be this much pain.

I only supported Labcoin against the scam accusations, not their utter incompetence. This project can still fail even if they don't have scam motives. I still support them as in they are most likely not a scam, but they are incompetent.
bitmoon
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October 18, 2013, 04:04:41 PM
 #17757

why does the hashrate drop on eligius and spike all the time? I don't mean the short term drops and spikes, im talking about the big ones that last a while.

https://bitcointalk.org/index.php?topic=312830.msg3361908#msg3361908

Thanks didn't know there was a whole new thread lol, at least it's nice seeing the Labcoin name reply lol

i have feeling to say something to you johnyBigs.

before the whole mess, you was defending labcoin from the fudster and trolls, and i was a noob and with no account in the forum since that time, i liked you.

after labcoin turned out to be biggest troll/fud as in breaking too much promise aka lying, your color changed, and you turned against labcoin with big bold letters and red text "scam" etc,  i really panic-ed hard, knowing you as supporter before.

now you are becoming almost a supporter slowly, maybe you picked cheap shares?

i know who cares and so on, but as a noob i find you as two faced,  if i compare you with dhenson,he kept his foot strong, never seen him change color, i liked his post from ipo till today.

Honestly Bit,

I got so fed up with all the FUD, it was like fighting an uphill battle. Got pissed off at the morons who can't think logically and dump their shares at 60% losses, so I joined the FUD train pretty much out of anger to these idiots, if they are going to sell anyway I might as well speed up the process and double my shares, which I did.

I mentioned it before that I was just fudding for that very reason. Should I have done that I guess not, but again the people who sold out were clearly not normal.

I still support Labcoin clearly, or else I wouldn't have bought more shares, or I would of sold at .004's and .003's, I think Sam is completely incompetent, so that's why I make fun of him still lol.

Other than that I never supported Labcoin 100%, in the beginning I came on here asking serious concerns which I was lynched for, If people actually started investigating in the beginning like i tried but was just abused for it, there wouldn't be this much pain.

I only supported Labcoin against the scam accusations, not their utter incompetence. This project can still fail even if they don't have scam motives. I still support them as in they are most likely not a scam, but they are incompetent.

fair enough, arent you concerned that he lied about the 20th that wont be missed?
bitmoon
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October 18, 2013, 04:12:30 PM
 #17758

btw looks like theswede is gone for bit long now, did labcoin fired him? since last post swede said that he was disappointed by sam/fabrizio.
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October 18, 2013, 04:18:03 PM
 #17759

I only supported Labcoin against the scam accusations, not their utter incompetence. This project can still fail even if they don't have scam motives. I still support them as in they are most likely not a scam, but they are incompetent.

When it comes to bitcoin securities (an oxymoron if there ever was one), "never attribute to stupidity that which is adequately explained by malice".

One failure, I might mistake intention. But after:
-Wozad (http://www.micro-funding.com/index.php?action=showstartup&startups_id=19)
-zenpad scam (http://www.reddit.com/r/IAmA/comments/kg4ch/im_the_guy_who_launched_an_highly_overhyped/)
-Kronos.io scam (http://www.reddit.com/r/Bitcoin/comments/yb89v/bitdaytradecom_operator_has_already_lost_4000btc/)
-bitscalper.com scam
-Bitdaytrade scam
-Labcoin scam

(Im ignoring some fake watch "business"), all of these scams are still called "failures due to incompetence" by some, do you really think Alberto is just the worst CEO in history, or a better scammer than people give him credit for?



JohnyBigs
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October 18, 2013, 04:20:56 PM
 #17760

btw looks like theswede is gone for bit long now, did labcoin fired him? since last post swede said that he was disappointed by sam/fabrizio.

no idea what happened to the swede he was fairly useless anyway, since he could never get a hold of sam lol. No I'm not concerned about the missed 20TH, as if you haven't figured out already Sam will miss every single deadline.

We have 3TH up and more coming, I'll be concerned in a month from now if we still don't have 20TH, or if new hash rate is not added weekly. Until then as long as hashrate is added every week everything is fine.

We have to understand that Sam sucks at communicating, but if he is actually considering leaving his regular job and doing this full time, it must mean things are starting to take shape and look good. Since this whole time he was still working, and the reason why someone doesn't leave is he doesn't think the prospects are that good.

The fact that he is considering leaving shows it is a very good sign.

Anyway back to the other thread where Sam responds lol
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