[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)

[yxxyun]

if the total bid BTC is not reach 7000BTC , I don't think we need pay higher than the IPO price.

[1714237491]

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[Vigil]

Damn, Transfer to BTC-TC takes forever.

6 confirms. so i'd guess 45 minutes

3 confirms, and it is taking 45 min for 1 confirm.

[julz]

Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs?  Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)

First in, first out.


There are multiple orders sitting on 0.001 (here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed.

Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end.

If you want to be very sure to get your shares, place an order on 0.001.


Good luck, LABCOIN! I'm following.


Edit:

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck

No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price.

Relax please.

So you're saying that even those orders submitted above the 0.001 price will be filled in the order they were placed?  There's no danger of my shares already bid at 0.001 being displaced by late high bids if the IPO is oversubscribed?
I couldn't find any info about the procedure for IPOs on btct - do you know this from experience or is it specified somewhere?

[dexX7]

Don't get me wrong please. Maybe the generalized "any regulation" was a bit exaggerated. I refered to limiting the number of purchasable shares in this case. Discussion about other regulations should go into another thread. If you want to open one, I'll join.

To those who place bids > 0.001:

You wast money. One single overpriced bid is enough to raise the daily, weekly and monthly high.

Edit:

So you're saying that even those orders submitted above the 0.001 price will be filled in the order they were placed? There's no danger of my shares already bid at 0.001 being displaced by late high bids if the IPO is oversubscribed?
I couldn't find any info about the procedure for IPOs on btct - do you know this from experience or is it specified somewhere?

I didn't think about the case that the IPO is completly filled. When the IPO starts, LABCOIN places an ask order of 7000000 shares on 0.001. This will consume bids >= 0.001.

If less than 7000000 shares due to that order are sold, the remaining shares will remain on 0.001. If there are more than 7000000 bids >= 0.001, those who placed their bids for a higher price or earlier than the rest gets filled. After that there is no more share to sell and the new price is defined by the next placed ask order.

[yxxyun]

I think higher bid price will got filled first.

[Ytterbium]

Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs?  Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)

First in, first out.

Then what's the point of having an issuer lock in the first place?

Surely the "Free market" would allow Labcoin to sell shares to whoever wants them, and distribute shares to those who want them fairly.

Do you actually know what you're talking about or are you just guessing here?

[Vigil]

Won't let me place a bid.

[BitHub]

These guys roughly value their "idea" today at around 1 million dollars, competition against ASICMINER and ACTIVEM n others.

Real valuation based on today with no sales?

0

being generous hmmm 100k

[Bitcycle]

You have no idea how to value a startup.

[Smidge]

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

Unlikely, this is the "free market." You take the good and the bad, have both or none. If that doesn't float your boat, I suggest checking out NYSE...

Hi,

As I stated before in other posts, a "regular" IPO lets you buy as many shares as you want before it goes live. Before the official listing, you get the PERCENTAGE of the shares you bought before vs. the number of shares available. That way, the issuer can even adjust the number of shares beforehand to optimize/fine tune the share structure.

This should be a model to implement on the digital currency exchanges aswell, as it leads to a fair distribution.

[Franktank]

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

Unlikely, this is the "free market." You take the good and the bad, have both or none. If that doesn't float your boat, I suggest checking out NYSE...

Hi,

As I stated before in other posts, a "regular" IPO lets you buy as many shares as you want before it goes live. Before the official listing, you get the PERCENTAGE of the shares you bought before vs. the number of shares available. That way, the issuer can even adjust the number of shares beforehand to optimize/fine tune the share structure.

This should be a model to implement on the digital currency exchanges aswell, as it leads to a fair distribution.

I was being facetious when I said "free market", hence the quotes. Any and all suggestions for "fair distribution", I will direct to burnside.

Labcoin just reached a high of 0.02/share...

Burnside should lock in IPO bids...

[Bitcycle]

It's unfortunate we don't have clear, detailed rules for how this ipo will work. 

I would make different decisions based on different rules. As it is I'm making my decision partially blind.  This should not be the case.

[Ytterbium]

Hi,

As I stated before in other posts, a "regular" IPO lets you buy as many shares as you want before it goes live. Before the official listing, you get the PERCENTAGE of the shares you bought before vs. the number of shares available. That way, the issuer can even adjust the number of shares beforehand to optimize/fine tune the share structure.

This should be a model to implement on the digital currency exchanges aswell, as it leads to a fair distribution.

That's what I was expecting.

On the other hand, it also means that a lot of people might not get as many shares as they'd like - and Labcoin would be leaving money on the table that they could be using for R&D (maybe make the next chip a 40nm instead of 65nm design, for example)

On the other hand, they'd need to change their prospectus if they wanted to do that since they said they wouldn't issue any more shares then 10 mil.

[Smidge]

Hi,

As I stated before in other posts, a "regular" IPO lets you buy as many shares as you want before it goes live. Before the official listing, you get the PERCENTAGE of the shares you bought before vs. the number of shares available. That way, the issuer can even adjust the number of shares beforehand to optimize/fine tune the share structure.

This should be a model to implement on the digital currency exchanges aswell, as it leads to a fair distribution.

That's what I was expecting.

On the other hand, it also means that a lot of people might not get as many shares as they'd like - and Labcoin would be leaving money on the table that they could be using for R&D (maybe make the next chip a 40nm instead of 65nm design, for example)

On the other hand, they'd need to change their prospectus if they wanted to do that since they said they wouldn't issue any more shares then 10 mil.

Hi,

People would not get as many shares as they'd like - Yes of course, because demand is too high to meet the offering.

Example for process as described above:

- You order 5.000 shares of a 50,000 shares IPO
- There are orders for 500,000 shares in total (= high demand, 10 times as much as shares offered)
- Everyone gets 1/10 of his or her shares ordered
- Your fair take is 500 shares based on demand
- Issuer can see demand beforehand, decide to step it up to, say 250,000 shares to address it better
- Your take would be 2,500 shares after adjustment

[ChefBorjan]

Phew, thank goodness I rolled out of bed and checked these forums. I think I have got my bid in place at the regular IPO price.. lets hope it is first come first serve, not just from the top down.

[dexX7]

Phew, thank goodness I rolled out of bed and checked these forums. I think I have got my bid in place at the regular IPO price.. lets hope it is first come first serve, not just from the top down.

I think I need to address this again, because of my vague words. :/

It's:

1. Top-Down
2. First-In

[Ytterbium]

I think I need to address this again, because of my vague words. :/

It's:

1. Top-Down
2. First-In

That's how it would work if the IPO was executed like any other sell order - It's unclear if there are special rules in place for IPOs or not, and different people are posting conflicting information.

I mean, what happens if you have an early order at 0.001, and enough bids come out at or above 0.001001 to buy up all the shares?  In that case would it be better to cancel your order and put in a new one at a higher price, or keep your bid in order to stay at the top of the queue?

[limbaugh]

I mean, what happens if you have an early order at 0.001, and enough bids come out at or above 0.001001 to buy up all the shares?  In that case would it be better to cancel your order and put in a new one at a higher price, or keep your bid in order to stay at the top of the queue?

Oh man, this could get ugly

[dhenson]

I think I need to address this again, because of my vague words. :/

It's:

1. Top-Down
2. First-In

That's how it would work if the IPO was executed like any other sell order - It's unclear if there are special rules in place for IPOs or not, and different people are posting conflicting information.

I mean, what happens if you have an early order at 0.001, and enough bids come out at or above 0.001001 to buy up all the shares?  In that case would it be better to cancel your order and put in a new one at a higher price, or keep your bid in order to stay at the top of the queue?

As long as the total number of shares on the bid side @ or above .001 is <= 7,000,000 then you are fine.  Once 7,000,000 shares have been bid on, you may end up having to bid more in order to fill your order.  As of right now we are at 4.21 million bids @ or above .001


Would love to see the order book open.  Are we really going to have to wait 16 hours+?

[KCBitcoin]

it looks like the IPO will be filled even before the unlock