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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1041583 times)
jimmothy
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October 30, 2013, 02:18:31 AM
 #17961

a currency that the rich cannot control.

LOL you think bitcoin is not controlled by the rich? You do realize the US government is the richest single bitcoin holder @ 125k..

to make you a poor debt slave

There is one extremely simple way to stay out of debt, don't borrow money! What does bitcoin have to do with it?
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Puppet
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October 30, 2013, 07:48:51 AM
 #17962

but i think they will eventually show up on their radar.

Already very much on their radar, as I posted earlier and what triggered this OT subthread:
https://bitcointalk.org/index.php?topic=297503.msg3430985#msg3430985
(Ken is CEO of VMC/Activemining).

Quote
Also the fact that the exchanges has a grace period to shut down makes me think that these were not the causes of SEC and instead a preemptive strike against it.

IN all likelihood,  the sec is still in the (informal) investigation stage, requesting documents from the exchanges and apparently at least some asset issuers. In that sense, the closure or blocking of US investors may be "voluntarily", but almost certainly a result of being asked questions. (think SEC:  "what steps are you taking to prevent US investors from using your exchange to comply with xyz". Ukyo: "Ooops").
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October 30, 2013, 09:17:53 AM
 #17963

I don't think colored coins are a good way of dealing with virtual stocks, because people can get scammed out of colored coins just as they can be scammed out of bitcoin. You can ask to buy 100 colored coins for 1 btc, get the 100 colored coins, and then not send the btc.

But the idea that the colored coins could cause the downfall of bitcoin, or that the SEC even has the power to ban software is totally bonkers.

I agree that the government can't and will not shut down bitcoin and also that whether the securities are hosted on colored coins or on exchanges, it doesn't give the government more or less incentive to shut down bitcoin.

I don't understand the logic behind peoples claims that the government wants to shut down bitcoin. They only care about the fact that people are using it for illegal things and going after these illegal things like they always do. has nothing to do with bitcoin besides the fact that its used as the form of currency, but then again hasn't every currency in the history of currencies been used for illegal things?

"The government" could and might try to shut down bitcoin. However The SEC does not have that power. Not even close. They have the power to levy fines on corporate officers and traders who violate securities regulations. Congress could pass a law trying to ban bitcoin if they wanted, but the chances of that happening over amateur stock exchanges, as opposed to drug dealing or terrorism is pretty low.

Lohoris
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October 30, 2013, 11:24:34 AM
 #17964

Anyway it's not possible to prevent colored coins from being implemented, there's much interest and they'll hopefully be sooner or later, so it's again even more irrelevant to worry about that.

This however I agree with. It's going to happen one way or the other. However I would prefer it to happen later when Bitcoin is further established and entrenched within the economic sphere rather than sooner at Bitcoin's current relatively early state of existence.
Glad we agree on what's going to happen anyway, even if we didn't agree about the other details : )

1LohorisJie8bGGG7X4dCS9MAVsTEbzrhu
DefaultTrust is very BAD.
TsuyokuNaritai
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October 30, 2013, 12:28:14 PM
 #17965

The passthrough on Havelock is consistently selling for about three times the price of the actual stock.

Seriously, WTF?

virtualspade
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October 30, 2013, 01:38:23 PM
 #17966

Hello SAM,

time to comfirm you are not alberto armandi and you have bought labcoin from him and he is not involved with labcoin any more.

her is a screen shoot from labcoin team skype profile



the italian number is the same as alberto armandi uses on this page:

http://incontri-amicizia.vivastreet.it/amici+firenze/cerco-amici-e-amiche-zona-firenze/80445364

from that page:

Inserito da alberto.armandi il 08/09/2013

blablabla...

il mio numero è 3886274142. Ciao!

take away country code from labcoin teams italian number and is a match

LABCOIN TEAM = ALBERTO ARMANDI

SAM = ?

virtualspade's cold beer fund: BTC:1PFLjadp8BUXihShfEmhCKugUUfo8SveJy LTC:LUTaae2YTkZomPgd2AeqKyNonpe2iTgZ7R  WDC:WQ6hNRmN4cDhF6XmccRN6uruWinLkZd2Aj More over here
MikeyVeez
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October 30, 2013, 02:32:21 PM
 #17967

Seriously, WTF?
Anyone buying this, at any price, is nuts... or a daytrader. This is pretty much like most altcoin trading; just hoping to sell it higher no matter what is behind.

Should we buy activemining or icedrill instead? End of the day Labcoin has 10TH
pedrog
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October 30, 2013, 02:36:54 PM
 #17968

Seriously, WTF?
Anyone buying this, at any price, is nuts... or a daytrader. This is pretty much like most altcoin trading; just hoping to sell it higher no matter what is behind.

Should we buy activemining or icedrill instead? End of the day Labcoin has 10TH

And Labcoin can't go under 0.0001. Smiley

pedrog
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October 30, 2013, 02:42:01 PM
 #17969

And Labcoin can't go under 0.0001. Smiley
There is only 17 BTC on the buy side. It can go to zero.

It was just a joke...

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October 30, 2013, 02:50:02 PM
 #17970

who wants to help me buy all the .0003 shares so we can get it to .0004 on crypto?

and then who knows what next....the moon  Cool
MikeyVeez
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October 30, 2013, 02:51:39 PM
 #17971

Should we buy activemining or icedrill instead? End of the day Labcoin has 10TH
Is this a joke?
Do you understand that 10TH is nothing per share? That even at 0.0001 you won't ever see a return on your investment?
And no, you certainly shouldn't buy InactiveMining or IceDrool.

Uhh at .0001 you'll make everything back in about 2-3 months.
JohnyBigs
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October 30, 2013, 08:04:15 PM
 #17972


Difficulty is not doubling everyday, even if it doubles every single month, you still get all your investment back withing 6 months worst case scenario. Please tell people more about your magical logic.
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October 31, 2013, 12:47:15 AM
 #17973

If it doubles every single month, it's not going to change 3 months to 6 months; you fail hard at mathematics. But let me show you how to use a simple tool to do the math for you.

So, there are 10000000 shares and 10 TH. That is, 0.001 GH per share, and at a share price of 0.0001, we get 10 GH for 1 BTC. Let's say difficulty is going up 75% every month (in reality, it's been much more, and we're waiting on a lot of preordered hashpower, but I'll give you that). I'll also give you no pool fee, no other costs. Will you make back that 1 BTC?

*drumroll*

http://mining.thegenesisblock.com/a/36a2da91cc

NOPE.

1BTC/.0001 share = 10,000 shares
10,000 shares X .00000172 (avg daily div) = .0172/day X 30 Days a month = .516

1st month dividend .516
2nd month dividend .258
3rd month dividend .129
4th month dividend .0645
5th month dividend .03255

TOTAL : 1.00005BTC @ 100% difficulty increases/mo and Labcoin not increasing hashrate

YOU FAIL AT LIFE
somestranger
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October 31, 2013, 01:37:37 AM
 #17974

If it doubles every single month, it's not going to change 3 months to 6 months; you fail hard at mathematics. But let me show you how to use a simple tool to do the math for you.

So, there are 10000000 shares and 10 TH. That is, 0.001 GH per share, and at a share price of 0.0001, we get 10 GH for 1 BTC. Let's say difficulty is going up 75% every month (in reality, it's been much more, and we're waiting on a lot of preordered hashpower, but I'll give you that). I'll also give you no pool fee, no other costs. Will you make back that 1 BTC?

*drumroll*

http://mining.thegenesisblock.com/a/36a2da91cc

NOPE.

1BTC/.0001 share = 10,000 shares
10,000 shares X .00000172 (avg daily div) = .0172/day X 30 Days a month = .516

1st month dividend .516
2nd month dividend .258
3rd month dividend .129
4th month dividend .0645
5th month dividend .03255

TOTAL : 1.00005BTC @ 100% difficulty increases/mo and Labcoin not increasing hashrate

YOU FAIL AT LIFE

The error in your math is that you don't take into account difficulty rising every ~2 weeks. If you calculated it like TGB you would see that it is clearly unprofitable. Also way to go invest 1btc to get a .00005% return in 6 months, and the shares will be totally worthless like PMBs.
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October 31, 2013, 01:38:03 AM
 #17975

If it doubles every single month, it's not going to change 3 months to 6 months; you fail hard at mathematics. But let me show you how to use a simple tool to do the math for you.

So, there are 10000000 shares and 10 TH. That is, 0.001 GH per share, and at a share price of 0.0001, we get 10 GH for 1 BTC. Let's say difficulty is going up 75% every month (in reality, it's been much more, and we're waiting on a lot of preordered hashpower, but I'll give you that). I'll also give you no pool fee, no other costs. Will you make back that 1 BTC?

*drumroll*

http://mining.thegenesisblock.com/a/36a2da91cc

NOPE.

___
1BTC/.0001 share = 10,000 shares
10,000 shares X .00000172 (avg daily div) = .0172/day X 30 Days a month = .516

1st month dividend .516
2nd month dividend .258
3rd month dividend .129
4th month dividend .0645
5th month dividend .03255

TOTAL : 1.00005BTC @ 100% difficulty increases/mo and Labcoin not increasing hashrate

YOU FAIL AT LIFE

___
Uh... you guys are actually both right.  It's profitable if the difficulty is growth is 50%/month and unprofitable if it's 75% per month.

I don't think the difficulty will be anywhere near either 33 billion or 184 billion in a year, to be honest, 184 billion difficulty would be about 1.3 Exahashes, or about 2,634,246 KnC Jupiters or BabyJets. 


At $2/Gh, it would require an investment of 2.6 billion dollars.  Which is more then the current value of all the bitcoins left to be mined.

pankkake: do you seriously think that much hashpower will be built over the next year?

BitThink
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October 31, 2013, 01:39:47 AM
 #17976



1BTC/.0001 share = 10,000 shares
10,000 shares X .00000172 (avg daily div) = .0172/day X 30 Days a month = .516

1st month dividend .516
2nd month dividend .258
3rd month dividend .129
4th month dividend .0645
5th month dividend .03255

TOTAL : 1.00005BTC @ 100% difficulty increases/mo and Labcoin not increasing hashrate

YOU FAIL AT LIFE
Sorry, I have to pointed out that the difficulty increases every 10-11 days, not 30 days.

With your calculation (assume 33% increase per 10 days)
first 10 days 0.172
next 10 days 0.129
next 10 days 0.097
so first month is 0.398
0.398 * 2 = 0.796.
So you got 0.796 BTC in life time.
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October 31, 2013, 01:58:41 AM
 #17977



1BTC/.0001 share = 10,000 shares
10,000 shares X .00000172 (avg daily div) = .0172/day X 30 Days a month = .516

1st month dividend .516
2nd month dividend .258
3rd month dividend .129
4th month dividend .0645
5th month dividend .03255

TOTAL : 1.00005BTC @ 100% difficulty increases/mo and Labcoin not increasing hashrate

YOU FAIL AT LIFE
Sorry, I have to pointed out that the difficulty increases every 10-11 days, not 30 days.

With your calculation (assume 33% increase per 10 days)
first 10 days 0.172
next 10 days 0.129
next 10 days 0.097
so first month is 0.398
0.398 * 2 = 0.796.
So you got 0.796 BTC in life time.


yes lets assume 120% increase a month, why not 1000? clearly at 100% increases a month in 5 months you break even, without Labcoin adding any new hashrate. At 75% your even more profitable.

Not saying it's amazing, but what security is offering that? Outside of ASIC, or the physical hardware miners you can buy and never get a rate of return.
jimmothy
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October 31, 2013, 03:32:17 AM
 #17978

You all fail to realize that the point of an ASIC MINING COMPANY is not to get 10th/s and wait for a year but to constantly keep adding hashing power as difficulty increases. We know for a fact that the ASIC manufacturers can produce asics for cheaper than the average joe can buy them for so it is much more realistic that if anyone makes a profit from mining, it will be the asic manufacturers.

So even if labcoin does not create any more hashing power (which is highly unlikely since they are a mining company with over half their funds left) then you still will reach a reasonable ROI. Also I believe difficulty estimates are hugely overestimated because the step from gpu/fpga -> asics is much larger than going from asics gen1 -> asics gen2. So we will probably still see a huge difficulty increase but not nearly as much as has been the past few months.
BitThink
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October 31, 2013, 07:16:12 AM
 #17979



1BTC/.0001 share = 10,000 shares
10,000 shares X .00000172 (avg daily div) = .0172/day X 30 Days a month = .516

1st month dividend .516
2nd month dividend .258
3rd month dividend .129
4th month dividend .0645
5th month dividend .03255

TOTAL : 1.00005BTC @ 100% difficulty increases/mo and Labcoin not increasing hashrate

YOU FAIL AT LIFE
Sorry, I have to pointed out that the difficulty increases every 10-11 days, not 30 days.

With your calculation (assume 33% increase per 10 days)
first 10 days 0.172
next 10 days 0.129
next 10 days 0.097
so first month is 0.398
0.398 * 2 = 0.796.
So you got 0.796 BTC in life time.


yes lets assume 120% increase a month, why not 1000? clearly at 100% increases a month in 5 months you break even, without Labcoin adding any new hashrate. At 75% your even more profitable.

Not saying it's amazing, but what security is offering that? Outside of ASIC, or the physical hardware miners you can buy and never get a rate of return.
Do I have to explicitly point out where your mistake is?
Quote
10,000 shares X .00000172 (avg daily div) = .0172/day X 30 Days a month = .516
You are assuming dividend will keep the same for one month, which is impossible. Difficulty will increase at least twice in a month. Even let's assume each of them increase only 25% and assume the period is 12 days, 0.0172 * 12 + 0.0172 / 1.25 * 12 + 0.0172 / 1.25 / 1.25 * 6 = 0.437
0.437 * (1 + 0.5 + 0.25 + 0.125 + ...) = 0.437 * 2 = 0.874.

Moreover, I just want to point out it does not break even, but not saying its not 'amazing'. Smiley
 
Actually the ROI is 87%, which is very good if you believe labcoin is still live after several months and the share price is still 0.00001.  (Anyway that's the minimum allowed price there).

Unfortunately, it seems nobody believe labcoin will survive next several months, and I guess that's the reason why you are trying prove it will break even.
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October 31, 2013, 07:25:12 AM
 #17980


You guys are cute when you try to do math.
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