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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1040976 times)
Alphi
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November 06, 2013, 01:29:47 PM
 #18021

Itec Pro's (the company behind labcoin) Facebook page for anyone who is keen to do more digging


https://www.facebook.com/itecpro.it


and their blog

http://itecpro.it/


and here's the alleged conmans profile for those who want to track him down...

http://www.shenzhenstuff.com/profile/FabrizioTatti?xg_source=activity

im sure it would be prety easy for anyone in the shenzen area to track this guy down just by reading about where he hangs out.

KARMA: KSc9oGgGga1TS4PqZNFxNS9LSDjdSgpC1B      VERT: VgKaooA5ZuLLUXTUANJigH9wCPuzBUBv9H
DOGE:   DRN7pXid34o6wQgUuK8BoSjWJ5g8jiEs4e
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TsuyokuNaritai
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November 06, 2013, 05:41:13 PM
 #18022

Hello I'm currently making a list of shareholders who might be interested in starting legal action against LABCOIN.

You can check it here

I've been in contact with a lawyer and he said that we have to gather more people to reduce the cost of the action and increase the "gravity" of the crime, so the more we are, the more this will get serious attention and hence consequences.

Please consider sending me a PM stating the amount of shares you CURRENTLY own and/or add a comment in the document above.

Getting lawyers involved is a sure fire way to not get anything back. After their fees what are you going to get back? Jack shit.

IANAL, but surely the guilty party would be ordered to cover our legal expenses in addition to the damages, rather than those fees being deducted from any damages.

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November 06, 2013, 05:55:06 PM
 #18023

Hello I'm currently making a list of shareholders who might be interested in starting legal action against LABCOIN.

You can check it here

I've been in contact with a lawyer and he said that we have to gather more people to reduce the cost of the action and increase the "gravity" of the crime, so the more we are, the more this will get serious attention and hence consequences.

Please consider sending me a PM stating the amount of shares you CURRENTLY own and/or add a comment in the document above.

Getting lawyers involved is a sure fire way to not get anything back. After their fees what are you going to get back? Jack shit.

IANAL, but surely the guilty party would be ordered to cover our legal expenses in addition to the damages, rather than those fees being deducted from any damages.

are you assumign that fabirzio and alberto are rich?! they go to jail but you would need something to "take" of theirs

ok
Puppet
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November 06, 2013, 07:06:53 PM
 #18024

are you assumign that fabirzio and alberto are rich?! they go to jail but you would need something to "take" of theirs

Alberto already scammed people out of >20K BTC.
He aint starving.
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November 06, 2013, 07:21:43 PM
 #18025

are you assumign that fabirzio and alberto are rich?! they go to jail but you would need something to "take" of theirs

Alberto already scammed people out of >20K BTC.
He aint starving.

No hes hungry like a Wolf or is that labcoin holders
http://www.youtube.com/watch?v=IxW0n5Fe5CY

dwdoc
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November 06, 2013, 07:50:13 PM
 #18026

Hello we are currently making a list of shareholders who might be interested in starting legal action against LABCOIN.

I've been in contact with a lawyer and he said that we have to gather more people to reduce the cost of the action and increase the "gravity" of the crime, so the more we are, the more this will get serious attention and hence consequences.

Please consider sending virtualspade (https://bitcointalk.org/index.php?action=profile;u=144825) a PM stating the amount of shares you CURRENTLY own.

What about those of us that bought IPO shares and sold at a huge loss?
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November 06, 2013, 08:00:38 PM
 #18027

are you assumign that fabirzio and alberto are rich?! they go to jail but you would need something to "take" of theirs

Alberto already scammed people out of >20K BTC.
He aint starving.

if he scammed so much what is that moron thinking. 14k is more than enough to attempt to evade people. unless he is a serial scammer that gets off on scamming people

ok
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November 06, 2013, 08:41:19 PM
 #18028

Hello we are currently making a list of shareholders who might be interested in starting legal action against LABCOIN.

I've been in contact with a lawyer and he said that we have to gather more people to reduce the cost of the action and increase the "gravity" of the crime, so the more we are, the more this will get serious attention and hence consequences.

Please consider sending virtualspade (https://bitcointalk.org/index.php?action=profile;u=144825) a PM stating the amount of shares you CURRENTLY own.

What about those of us that bought IPO shares and sold at a huge loss?

You can buy back in at the same loss you sold at now. Smiley

hammurabi
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November 06, 2013, 09:38:16 PM
 #18029

Those missing dividends might have been used to buy back shares.
240k shares is around 3 days of dividends.

8 days of missing dividends until now. Approx. 100 BTC. Or 1.000.000 shares!

Date   Total dividend   Number of shares   Dividend per share   
MISSING
MISSING
MISSING
MISSING
02 Nov 01:20   13.84130259   8,094,329   0.00000171   BTC
MISSING
31 Oct 02:50   18.21224025   8,094,329   0.00000225   BTC
MISSING
29 Oct 04:06   13.92224588   8,094,329   0.00000172   BTC
28 Oct 03:25   16.83620432   8,094,329   0.00000208   BTC
27 Oct 00:56   12.70809653   8,094,329   0.00000157   BTC
MISSING
25 Oct 22:17   12.06055021   8,094,329   0.00000149   BTC
24 Oct 22:09   16.10771471   8,094,329   0.00000199   BTC
23 Oct 20:23   16.75526103   8,094,329   0.00000207   BTC
MISSING
21 Oct 22:09   11.25111731   8,094,329   0.00000139   BTC
20 Oct 22:36   11.08923073   8,094,329   0.00000137   BTC
19 Oct 16:32   11.17017402   8,094,329   0.00000138   BTC
18 Oct 11:32   11.97960692   8,094,329   0.00000148   BTC

BTC:    1Hpk4rWpP3gACJhXHn8VkeNp4usdQmfuVY
LTC:    LM5p7X9dTsWj14G2VQeJKuntVUc6GsPnDp
iCEBREAKER
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November 06, 2013, 11:15:31 PM
 #18030

I am taking over the ritual of posting BitchCycle's Daily Action Item Checklist, since he broke his promise to do it himself.

Quote
https://bitcointalk.org/index.php?topic=305686.0

It's been 36 days since this list was posted.

Unfortunately,

none of Sam's action items have been completed.

The list remains as it is.  I am including some suggestions added by the community, though it is important to note that these have not been agreed to by Mr. Noi.

I am PMing a reminder copy to Mr. Noi as soon as this is posted.

NOTES FROM THE Q&A

INCLUDING A TO-DO LIST FOR SAMUELE NOI.

I am PMing a copy of this to-do list to the Labcoin account as a reminder of the action items from this session.

I am also asking Mr. Noi to inform us when these items are completed.

Actions for the next 24 hours.

    Skype session with Ukyo regarding Bitfunder listing
    Posting to the forum the amount of BTC left in the company funds.
    Change pool to Eligius
    Make the labcoin portfolio public on BTCT


Other actions to complete ASAP

    Verification of ID.  A good start would be writing "I am Samuele Noi of Labcoin" and the date on a piece paper, and photograph yourself holding it.
    Photos of the hosting facilities as well as the operational boards
    Send a sample board to TheSeven.  This should be done immediately as the sooner he gets the board the sooner he can provide advice. Delays have a direct cost.
    Exact power consumption figures for the chips/boards



Actions for the community to complete ASAP

    Nominate a panel of community representatives to work closely with Samuele. This should be done immediately. We complain about delays from Sam, let's not do what we criticize him for.

- COMPLETED


Suggested additional items from the community

    Meet with a shareholder in person in Shenzhen / Hong Kong. Lunch/coffee/tea meeting etc.  Merv77 has indicated that he will be in town and available Oct 23 - Nov 11. An in person meeting with a third party could soothe a lot of anxieties.
    Provide a full accounting for all money spent so far.  A spreadsheet showing expenses and dates would be ideal.


THIS LIST WILL BE REPOSTED DAILY WITH ITEMS CHECKED OFF AS THEY ARE COMPLETED


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Monero
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whether we have a dictatorship or a real democracy." 
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"Fungibility provides privacy as a side effect."  Adam Back 2014
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November 07, 2013, 01:00:07 AM
 #18031

How long until Labcoin is worth more than ASICMiner?
E.Sam
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November 07, 2013, 01:29:22 AM
 #18032

Nice work every one we now have 1 million labcoin shares backing up a compliant against Labcoin and its owner Fabrizio Tatti.     

To be on the safe side with my estimation of total amount of lost money I'm using the IPO price as the buy in price for all the shares so that means 1000 BTC lost and with BTC price at 200$ ( to be on the safe side ) we have reached our minimal goal to make a convincing case with the Polizia Postale that is 200,000$ of lost money.

That said I'm sure that some of you have bought in above IPO price and the total amount will be higher. The price you paid for your shares and your total loss of money just like any personal information will be information that you only shall shear with the lawyer we hire, in that way any information is covered under client-lawyer non-disclosure terms.

Any one who wants to join us can PM me here https://bitcointalk.org/index.php?action=profile;u=144825

If you don't want to disclose the amount of shares you have to me that is ok ( as we are over target ), as long as you are willing to submit it to the lawyer when the time comes. As long as the compliant is not yet finalized for submission to the authorities there is time to join.

I have no specific time table to give you at the moment since we are in the beginning of the process. 2 weeks is TM of labcoin so I wont use that, but I'll keep you updated. At the moment we are still gathering support and information, PM me if you got something to ask or have any useful information.

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November 07, 2013, 02:27:06 AM
 #18033

Nice work every one we now have 1 million labcoin shares backing up a compliant against Labcoin and its owner Fabrizio Tatti.    

To be on the safe side with my estimation of total amount of lost money I'm using the IPO price as the buy in price for all the shares so that means 1000 BTC lost and with BTC price at 200$ ( to be on the safe side ) we have reached our minimal goal to make a convincing case with the Polizia Postale that is 200,000$ of lost money.

That said I'm sure that some of you have bought in above IPO price and the total amount will be higher. The price you paid for your shares and your total loss of money just like any personal information will be information that you only shall shear with the lawyer we hire, in that way any information is covered under client-lawyer non-disclosure terms.

Any one who wants to join us can PM me here https://bitcointalk.org/index.php?action=profile;u=144825

If you don't want to disclose the amount of shares you have to me that is ok ( as we are over target ), as long as you are willing to submit it to the lawyer when the time comes. As long as the compliant is not yet finalized for submission to the authorities there is time to join.

I have no specific time table to give you at the moment since we are in the beginning of the process. 2 weeks is TM of labcoin so I wont use that, but I'll keep you updated. At the moment we are still gathering support and information, PM me if you got something to ask or have any useful information.

Labcoin lawsuite thread here

https://bitcointalk.org/index.php?topic=325431.0

virtualspade's cold beer fund: BTC:1PFLjadp8BUXihShfEmhCKugUUfo8SveJy LTC:LUTaae2YTkZomPgd2AeqKyNonpe2iTgZ7R  WDC:WQ6hNRmN4cDhF6XmccRN6uruWinLkZd2Aj More over here
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November 07, 2013, 02:42:20 AM
 #18034

The Italians give world culture so many precious and valuable things, not the least of whitch is the ubiquitous bottle of red wine, cradled in a basket; hand woven from regional grass!

I think the word for it is ... "FIASCO!"

Sig This
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November 07, 2013, 04:31:15 AM
 #18035

Is virtualspade your alter ego?! you signed up past the "ipo" date
so are you a late "investor" - not to sound skeptical but just hope you're not "sam noi"

I missed the IPO price with 10 min because of Labcoin utter incompetence to handel things the right way like having correct information available. The time zone mixup and iirc the ipo date was not set properly before it suddenly was set like its "tomorrow" And then the btc-tc wallet bug I'm not blaming Burnside here just Labcoin and the way they handled the IPO so that btc-tc got over loaded.

I diden't see any need to sign up here since the information has always been much better over at the IRC channels. And since I got my first BTC ever for the Labcoin IPO I didn't see any reason to join btctalk before now.

And Sam Noi doesn't exist so no worries there, I'm Virtual Spade for realz.

I remember the IPO and that is true. Labcoin hurried up the whole process. Timezone error, btct.co techinical problems and TheSwede promise of giving 24hrs before ipo beginning should result in postponing the ipo for at least 24 hours. But they decided to go right away and take the money! Now we know why!
They have been scared that somebody uncovers their identity or maybe they needed to pay for those kncminers which part of them we can see hashing. At that time KNC queue was building up fast with delivery dates around 15 OCT. TheSwede was even organizing one of the group buy by himself so I wouldn't be so sure if he wasn't involved with the whole idea of preordering kncminers and telling investors fairy tales about stealth chip development. Is Howard Wang innocent?! Maybe is. Or maybe not. I guess going to USA to study costs more than 10 BTC.

I really wish that somebody finds BTC flow from IPO money. Which was 7000 BTC. So we could see if they cashed out or stashed it somewhere.

BTC:    1Hpk4rWpP3gACJhXHn8VkeNp4usdQmfuVY
LTC:    LM5p7X9dTsWj14G2VQeJKuntVUc6GsPnDp
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November 08, 2013, 12:31:09 AM
 #18036

In case of btct.co domain expiration I'm saving the current contract.



Company Details / Representative

Samuel Noi - Nominee Director

Labcoin - Proprietary ASIC technology / iTec-Pro Limited

Hong Kong - China

sam.noi@labcoin.com

 

About Labcoin

 

Reference staff and contacts

 

Fabrizio Tatti

- Founder and sole owner of iTec-pro Ltd

- Brief CV : http://cn.linkedin.com/in/fabriziotatti

 

Samuel Noi

- Nominee Director of iTec-Pro Ltd and PR representative for Labcoin.

 

Howard Wang

- Team Leader at Research Institute of Tsinghua University in Shenzhen

- Master's, Electronic Science and Technology Tsinghua University in Integrated Circuits & Systems

- Bachelor's, Electronic and Information Engineering Beijing University Aeronautics and Astronautics

 

Michael Sparmann (theSeven)

- Bitcoin expert, contributor for Open-Source FPGA Bitcoin miner

- Generalist software developer, touched most layers from electronics to web development

- Background on low level software (down to the hardware interface, bare-metal software, operating systems, kernel, etc. )

 

Daniel Larsson (TheSwede75)

- Marketer, member of Bitcointalk, group-buy manager and bitcoin enthusiast. Acting as communications assistant with Labcoin.com in IPO and marketing.

 

Other project information

 

Company website url : http://www.labcoin.com

Company registration: http://www.linkedin.com/company/itec-pro-limited

http://i.imgur.com/qYw7Maf.jpg

Security bitcointalk.org link: https://bitcointalk.org/index.php?topic=263445.0

Hardware bitcointalk.org link: https://bitcointalk.org/index.php?topic=241033.0

 

Stockholder Agreement   
Goals

The goal is Labcoin.com is to develop, manufacture and sell crypto currency mining equipment based on ASIC (Application Specific Integrated Circuitry) to the public.

Labcoin.com also intends to when/if possible and profitable use ASIC to mine crypto currency.

To reach that goal labcoin.com has developed and is planning to start starting manufacturing of a first batch of bitcoin miners based on proprietary 130 nm ASIC technology in August 2013.

The development of the 130 nm ASIC has already completed and a first-run of production chips will be started immediately upon success of the IPO.

Development has is also under way for a 65 nm version and the company has already invested $100.000+ in development and preparations for a first run of chip production of 130 nm chips that will be used for prodution of miners for sale to the public.

The goal of this IPO is to allow the company founders to recouperate some of the investment made into development and production of the first batch of chips, and to allow for continued development.

 

Current project status

The development of the first generation of 130 nm chips have been paid for and all contracts and tests have been made to facilitate a first run of chips upon successful completion of the IPO (see. contract here: http://labcoin.com/docs/1.jpg http://labcoin.com/docs/2.jpg http://labcoin.com/docs/3.jpeg )

The first run will yeild 1000-1500 chips @ 130nm, 300Mhz, Power 0.8W, 6.5x6.5mm design. With specs of 5 GH at 2.7W/GHash.

With production ordered of the first run of chips, estimated time to possible 'open day' and prototype is 45 DAYS the beginning of August.

Sale and delivery of the first generation of ASIC miners is expected to be shortly after prototype.

Paralell with this tape-out final tests and development of the 65 nm chips is ongoing and current test show that the 65nm 500mhz design will output 450~500MH at 0.7~0.8~1W, showing a great improvement over 130 nm.

The majority of the funds raised in the IPO are intended for first run of 130nm chips and following mass production of chips. Funds from the IPO will also finance development, NRE and prodction of the second generation 65nm ASIC chips and subsequent mining equipment manufacturing.

 

Shareholder information

The IPO will be announced through Bitcoinforum.org and through the BTCT.CO website several days in advance and labcoin.com and representatives will be available for answering questions regarding the company, financing etc.

 

Labcoin.com will protects the share holders by agreeing to:

- Not offer any further shares outside of what is stated in the contract over the open market or otherwise once the IPO has been filled.

- Regularly communicate the project financials to share holders in a way that lets share holders evaluate the performance, capital outlay and future of the project.

- Pay regular dividends amounting to a percentual share of ownership in the company on a bi-weekly basis. The dividends paid will consist of between 70-80% all profits while 20-30% of profits will be held as a reinvestment fund for development, marketing and manufacturing. ALL share holders have the right to an equal share of dividends directly based on their ownerhsip.

- Not change the direction or goal of the company without share-holder votes as per the statures of BTCT.CO

 

General shareholder contract and IPO information

Labcoin.com aims to raise 7.000 Bitcoin (BTC) through the issue of 7.000.000 shares in the IPO. The shares will be issued at a price of 0.001 BTC per share. The total amount of shares in labcoin.com will be 10.000.000 shares, with labcoin employees, representatives and owners will hold 30% of outstanding shares.

All shares are entitled to an equal percentage of dividends and all shares sold in the IPO are considered to be non-voting shares. Labcoin does however bind itself to NOT significantly change the direction of the company without share holder input.

The IPO will be considered successful if at least 4.000.000 (4 million) shares are sold in the IPO. If less than 4.000.000 shares are sold within a 'reasonable' timeframe (30 days) the entire IPO will be refunded to share holders (100% of share value).

No more then 7.000.000 shares will be sold in the IPO. And no more shares then 10.000.000 will be created without a vote on btct.co (we do not forsee the need to ever sell more than 10.000.000 shares).

Executive Summary   
Excecutive summary

Labcoin started out as a privately funded experiment, managed by iTec-Pro Limited back in September/October 2012, with the aim of exploring the development of novel mining technologies.

In early 2013 development of a 180 nm ASIC chip was started and in late spring this chip design became the foundation for the current development of and production of a highly competative and cost effective 130 nm ASIC chip. This is the chip that the company now has secured production of for it's first ASIC Bitcoin miner product.

ASIC is an acronym that stands for "Application Specific Integrated circuit", and indeed, in our case, the specific application we are interested in, is Bitcoin mining.

The company is running two separate development teams in both Europe and China, enabling the paralell development and production of 130 nm ASIC and the future 65 nm ASIC chips.

Developing a custom integrated circuit is no simple task, requires time, highly skilled, trained team of engineers, and a deep, low-level knowledge of hardware, and Bitcoin mining process.

Currently many companies are attempting at cutting a share of the market but only a few of them actually shipped real hardware (though intermittently) and proved as real competitors.

It is our ultimate future goal to control a "fair share" (approx 10-15% or more) of the Bitcoin network global hashrate, and position us both in the market of IC manufacturing, Bitcoin mining and mining hardware sales, for profit and benefit of the Bitcoin community and network decentralization / security.

Through our strategy, hard work and good communication channels with several foundries, (eased by one of the key team members being a researcher at the `Research Institute of Tsinghua University in Shenzhen`) we believe to possess the right combination of skills, know-how and industry connections for being able to compete successfully in this niche segment, where time-to-market is critical.

The planned IPO, if filled will vitalize Labcoin with between $600.000-$650.000 (at a bitcoin/USD value of between $80-$90) enabling first run and mass production of 130nm chips and miners as well as continued development of 65 nm ASIC technology and miners.

In our mind there is no doubt that the funds raised will enable labcoin to become a power player in ASIC chip production, ASIC Miner sales as well as Bitcoin mining. Enabling Labcoin to thrive as a profitable company for investors and owners old and new.

 

Business Description   
About Labcoin

The goal of the Labcoin project is to develop, manufacture and sell crypto currency mining equipment based on ASIC (Application Specific Integrated Circuitry) to the public.

Labcoin.com also intends to when/if possible and profitable use ASIC to mine crypto currency (Bitcoin primarily) and work towards holding a "fair share" (10-15% or more) of the total hash-rate of the Bitcoin network.

Labcoin is a independent development project founded by iTec-Pro limited in Hong Kong and operates two development and production teams in China as well as in Europe.

Company vision

The vision of Labcoin is to become a major player in the ASIC hardware and bitcoin mining world. Reaching quick profitability and through both development, Chip sales, Bitcoin Miner sales and when profitable Bitcoin mining provide many years of high dividends and returns to its share holders.

A lot of the goals the company strive towards are exemplified through the current bitcoin hardware and mining “market leader” ASICMINER (currently listed on Bitfunder as well as BTCT.CO), who has managed to through hard work, perseverence, development, mining and sales become one of the most profitable companies in cryptocurrency history.

Business goals and objectives

The first goals of Labcoin has already been reached with the successful development and ordering preperations for the first run of 130 nm ASIC chips.

The next step for Labcoin is to order mass production quantities of these chips to build and sell the first version of it's ASIC Bitcoin miner to members of the public.

Further goals include continued sales, and when profitable for share holders Bitcoin mining and the finished development of 65nm ASIC chips, as well as continued sales of the 130 nm chips and miners.

For the future, the goal is to continue developing new generations of ASIC for Bitcoin mining while providing share holders with high dividends and increasing profits as the company matures.

 

Brief history of the business.

Labcoin started as a privately funded experiment, managed by iTec-Pro Limited back in September/October 2012, with the aim of exploring the development of novel mining technologies.

After reaching a proof of concept in 180 nm ASIC the project took a look at the market, and decided to focus on a more viable 'version 1' of 130 nm chips, and development of a 65 nm version as well.

In June/July of 2013 the 130 nm version of a multi-core chip was finished and all preparations for first-run of chips was made. These are the chips that will be the basis of the companys first version of ASIC Bitcoin miner, all while development of the 65 nm chips continue.

Labcoin is now at a place where capital is needed for first run, volume chip production and manufacturing of ASIC miners using the 130 nm ASIC chip. IPO capital will also fund continued development and production of the second generation of ASIC chips (65 nm).

 

 List of key company principals

 

 Fabrizio Tatti

- Founder and sole owner of iTec-pro Ltd

- Brief CV : http://cn.linkedin.com/in/fabriziotatti

 

Samuel Noi

- Nominee Director of iTec-Pro Ltd and PR representative for Labcoin.

 

Howard Wang

- Team Leader at Research Institute of Tsinghua University in Shenzhen

- Master's, Electronic Science and Technology Tsinghua University in Integrated Circuits & Systems

- Bachelor's, Electronic and Information Engineering Beijing University Aeronautics and Astronautics

 

Michael Sparmann (theSeven)

- Bitcoin expert, contributor for Open-Source FPGA Bitcoin miner

- Generalist software developer, touched most layers from electronics to web development

- Background on low level software (down to the hardware interface, bare-metal software, operating systems, kernel, etc. )

 

Definition of the Market   
Labcoin market definition and outlook

The Bitcoin mining market, and ASIC specifically is still very much in it's infancy. There are to date less then 10 companies world wide (as per our own research) that are involved in the development and production of ASIC chips, ASIC based Bitcoin miners and Bitcoin Mining on a larger scale.

This market of course come with quite a bit of risks as a lot of the factors to success are time to market based and depend on a multitude of factors including but not exclusive to: Chip quality, chip delivery time, PCB manufacturing, Schematics, functionality and software.

The need that Labcoin aims to fill is the need for more serious companies developing, manufacturing and selling ASIC Bitcoin mining equipment to the general public.

The continued development and sales of fast, energy efficient and quick to market Bitcoin mining products is critical not only to the profitability of Bitcoin mining for customers but for the Bitcoin system as a whole.

Labcoins target market is because of the continued good health of the Bitcoin network, mining profitability and crypto currency as a whole very large, and we believe that a well made, well performing and timely produced product will be very successful.

 

 

Products and Services   
The products and services that Labcoin aim to provide to customers are as follows:

- Production of mass quantities of 130 nm generation 1 ASIC chips (First run production scheduled, NRE costs taken and first batch of chips to be ordered)

- Development and production of Bitcoin Miners, based on the 1st generation ASIC Chips available to customers within 2 months of successful IPO (Component choice made and ordering ready to start)

- Development and production of both 2nd generation ASIC chips and 2nd generation ASIC chip based miners. (Development well under way, and proof of concept for 65 nm shortly to be presented)

- Labcoin also intends to, when profitable for the companys share holders manufacture and run it's own Bitcoin mining operation, with profits from mining operations paid in full as dividend to share holders.

The goal of the mining operation is to while providing profits and dividends, work towards holding a 'fair share' (10-15%) of the total hash rate of the Bitcoin network or more.

 

 

 

Organization and Management   
Labcoin project management

Labcoin is managed by a combination of developers, technical staff and company founders with the help of several active bitcoin miners, marketing professionals and crypto currency experts.

Labcoin will also actively seek input and advice from share holders, as we recognize the vast amount of knowledge and technical expertise that is accessible through the bitcoin community at large and the membership base of bitcointalk.org in particular.

 

The core management team of Labcoin consists of

 

Fabrizio Tatti

- Founder and sole owner of iTec-pro Ltd

- Brief CV : http://cn.linkedin.com/in/fabriziotatti

 

Samuel Noi

- Nominee Director of iTec-Pro Ltd and PR representative for Labcoin.

 

Howard Wang

- Team Leader at Research Institute of Tsinghua University in Shenzhen

- Master's, Electronic Science and Technology Tsinghua University in Integrated Circuits & Systems

- Bachelor's, Electronic and Information Engineering Beijing University Aeronautics and Astronautics

 

Michael Sparmann (theSeven)

- Bitcoin expert, contributor for Open-Source FPGA Bitcoin miner

- Generalist software developer, touched most layers from electronics to web development

- Background on low level software (down to the hardware interface, bare-metal software, operating systems, kernel, etc. )

 

Marketing Strategy   
Marketing strategy

The marketing strategy of Labcoin is fairly simple. Our products are all based on the real-world usability of chip designs in Bitcoin mining. The worlds largest bitcoin focused forum bitcointalk.org will be our primary marketing channel together with labcoin.com

There are some plans for external marketing through web-based marketing campaigns, but in an initial phase we are very confident that our strong product line will speak for itself and sales will come primarily through word of 'mouth' in the bitcoin community.

A fast, reliable and profitable mining solution with a quick time-to-market is essentially a 'bitcoin printing press' for it's owner and this is what we intend to market, sell and when profitable for our share-holders use ourselves for Bitcoin mining.

Financial Management   
Financials

The financial management of Labcoin as a start-up project will be continously updated as the project starts generating expenses and income.

For the near future the project has already privately funded the development of the 1st generation 130nm ASIC chip, all NRE (non reocurring expenses) related to this development, and labcoin is fully prepared for first run of chip production.

The start-up costs until this time are in the neighborhood of $150.000 and have already been paid prior to the IPO.

Labcoin's plan is to use the funds raised through the IPO to both fund development and production of the second generation of 65nm ASIC chips, and to pay for mass production orders of the 1st generation 130nm ASIC chip, as well as all components and hardware neccisary for building the first generation chip into consumer grade ASIC Bitcoin mining equipment.

Since the development costs and NRE has already been paid, volume production of the 1st generation 130nm ASIC chip is projected to be exceptionally profitable.

BTC:    1Hpk4rWpP3gACJhXHn8VkeNp4usdQmfuVY
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BitCsByBit
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November 08, 2013, 07:43:00 AM
 #18037

"Buy more while it's cheap. To the moon by mid October"

Bloody Italians: http://en.wikipedia.org/wiki/Charles_Ponzi   Grin

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
Lohoris
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November 08, 2013, 11:55:57 AM
 #18038

Sure, like there weren't scammers elsewhere... Roll Eyes

BTW, if someone was interested in taking legal action, feel free to contact the tax police...

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DefaultTrust is very BAD.
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November 08, 2013, 12:30:43 PM
 #18039

Update on the situation

Fabrizio is the first person that the police will investigate since it is his company that is behind Labcoin according to the IPO contract.

I'm sure he will cooperate with the police in the case he also has been scammed and has nothing to do with all of this as he has claimed, but that still remains to be verified by the police.

I have contacted TheSwede75 and I'm communicating with him and he is willing to help in any way he can, I'm hoping he has something of value to contribute since he was working with "sam" on the IPO details and was in close contact with him.

Now that we have the support of so many share holders we are starting the next phase of the process, that is gathering and organizing all the information for the complaint.

I will be taking the weekend of from all this since I have logged so many hours on the case this week, but you can expect me back on the case in full action next week again.

Thank you for your support

virtuals 

virtualspade's cold beer fund: BTC:1PFLjadp8BUXihShfEmhCKugUUfo8SveJy LTC:LUTaae2YTkZomPgd2AeqKyNonpe2iTgZ7R  WDC:WQ6hNRmN4cDhF6XmccRN6uruWinLkZd2Aj More over here
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November 08, 2013, 03:55:09 PM
 #18040

We've finally deployed about 10 TH/s of stable hashing output.

Here is the guest account for http://ghash.io, username : labcoin2 password : 12345



By "about 10 TH/s",  Sam means "7 TH/s when we're lucky".

And by "stable", Sam means "I have no idea what I'm doing".

And by 'daily dividends',  Sam means 'it's been a week since I paid out a single satoshi.'

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