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

[Luckybit]

This kid isn't going to make it far..
I tried.

Nah your just fucking completely dumb. When your virtual fake money goes and gets used for real business, and real assets, it leaves the realm of "virtual keiser stock exchange".

There are legalities no matter what your half retarded brain says, the only problem is there is probably no regulation in Hong Kong.

At some point you will be right and the game could eventually be regulated. It's still an alternate reality game by definition. An alternate reality game can have real world benefits, just like any serious game. The serious games movement is what you shoudl research before posting further.

As far as trying to legally define it, that is impossible right now. There is no legal definition but it certainly isn't a stock in the traditional sense. You do not have voter rights. You do not necessarily get equity either. It's more a profit sharing virtual stock ticket. Labcoin is agreeing to share it's profits.

Bitcoin is real money of course. Labcoin is a real company. But the platform it operates on is entirely virtual and it's currently an alternate reality rather than a real asset. The moment you make it into a real asset then you have to legally define and regulate it and we cannot do that yet because its too new.

Maybe in 5 years if Labcoin still exists then these virtual stocks might be convertable to some real stock or maybe they'll do what Satoshi dice did and sell and give some dividends, who knows?

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[JohnyBigs]

This kid isn't going to make it far..
I tried.

Nah your just fucking completely dumb. When your virtual fake money goes and gets used for real business, and real assets, it leaves the realm of "virtual keiser stock exchange".

There are legalities no matter what your half retarded brain says, the only problem is there is probably no regulation in Hong Kong.

At some point you will be right and the game could eventually be regulated. It's still an alternate reality game by definition. An alternate reality game can have real world benefits, just like any serious game. The serious games movement is what you shoudl research before posting further.

As far as trying to legally define it, that is impossible right now. There is no legal definition but it certainly isn't a stock in the traditional sense. You do not have voter rights. You do not necessarily get equity either. It's more a profit sharing virtual stock ticket. Labcoin is agreeing to share it's profits.

Agreeing to pay you dividends on profits for x amount of ownership you own, is a legal binding contract.

[JohnyBigs]

This kid isn't going to make it far..
I tried.

It's just absolutely hopeless.

Nah your just fucking completely dumb. blahblahblah I'm a fucking retard.

You should really stop talking here, and just fucking lurk moar.
If you listen enough to the adults, maybe you'll figure a few things out.

Nah you're clearly fucking morons, im posting actual legal cases while you guys just say naw cause I said so, fucking idiot trolls. Adults post actual arguments backed up by facts, kids say NAW cause.

[JohnyBigs]

This kid isn't going to make it far..
I tried.

What has JB said that was incorrect because most of what I read was pretty dead on,

this also coming from the same person who said that Asicminer was done? it seems you are arguing for the sake of arguing and you are only embarrassing yourself by replying regardless of whether it is called a "game" 70% of the company was sold to the public hence that is what we own of the company,

it is extremely disheartening to read your posts considering that all you seem to do is talk down to people who are probably better off than you,

These are actual legal cases going on now, while these trolls reply with no because I said, that's usually the first sign of mental retardation.

You are right every since I came here and posted actual concerns, they respond with an elitist sense of entitlement, it's ok though arrogance doesn't usually get people very far.

[ajk]

I would bet that even if you added up the net worth of both of these people it would not even equal 100 BTC

[N_S]

This kid isn't going to make it far..
I tried.

It's just absolutely hopeless.

Nah your just fucking completely dumb. blahblahblah I'm a fucking retard.

You should really stop talking here, and just fucking lurk moar.
If you listen enough to the adults, maybe you'll figure a few things out.

Nah you're clearly fucking morons, im posting actual legal cases while you guys just say naw cause I said so, fucking idiot trolls. Adults post actual arguments backed up by facts, kids say NAW cause.

You have an extremely rough future ahead of you if we're getting an accurate representation of who you are.

[physalis]

This kid isn't going to make it far..
I tried.

What has JB said that was incorrect because most of what I read was pretty dead on,

this also coming from the same person who said that Asicminer was done? it seems you are arguing for the sake of arguing and you are only embarrassing yourself by replying regardless of whether it is called a "game" 70% of the company was sold to the public hence that is what we own of the company,

it is extremely disheartening to read your posts considering that all you seem to do is talk down to people who are probably better off than you,

No, nothing what this tool says is dead on. It shows the kind of dangerous half-knowledge that gets you killed in this market. Wild unbased speculations paired with immature ramblings.

VE is the one who is dead on. And he never said that "Asicminer was done".
He advised people to sell AM now and get into this stock, which is the same thing I'd advise.
AM is not going to die, but it has seen its peak. If you want to make huge returns, you undertake a risk and invest in the competitor to AM that bitcoin desperately needs.

And VE is also completely correct to state that this is all virtual, you don't own shit. Not 1% of the company, not 70%. Nada.
That doesn't mean they can just take your money and run, but you don't own their company, period.

[Luckybit]

This kid isn't going to make it far..
I tried.

Nah your just fucking completely dumb. When your virtual fake money goes and gets used for real business, and real assets, it leaves the realm of "virtual keiser stock exchange".

There are legalities no matter what your half retarded brain says, the only problem is there is probably no regulation in Hong Kong.

At some point you will be right and the game could eventually be regulated. It's still an alternate reality game by definition. An alternate reality game can have real world benefits, just like any serious game. The serious games movement is what you shoudl research before posting further.

As far as trying to legally define it, that is impossible right now. There is no legal definition but it certainly isn't a stock in the traditional sense. You do not have voter rights. You do not necessarily get equity either. It's more a profit sharing virtual stock ticket. Labcoin is agreeing to share it's profits.

Agreeing to pay you dividends on profits for x amount of ownership you own, is a legal binding contract.

That is closer to what it is. It's legally binding similar to how Cloudhashing or any of the other mining contracts are. But it's not a stock because you don't really get voting rights or own Labcoin legally because Labcoin is a company which issued itself on a virtual platform rather than a traditional IPO.

Honestly, the laws have to be updated eventually to include this kind of business crowd funding or alternate reality platform or whatever it turns out to be. Right now there is no agreed upon legal definition so you're essentially gambling with virtual stocks until there is a law set up to define virtual stocks as assets.

[ajk]

its pointless to argue with either of you, regardless of whether its a game or not money is involved and works like the stock market

the company issues shares and promise we invest based on that then the valuation will find itself once they are selling hardware and mining, I am not saying they are obligated to do anything but this is how it works and calling it a game isnt going to save it from scrutiny if the govt decides to do anything

both of you are just bantering uselessly,

[JohnyBigs]

This kid isn't going to make it far..
I tried.

What has JB said that was incorrect because most of what I read was pretty dead on,

this also coming from the same person who said that Asicminer was done? it seems you are arguing for the sake of arguing and you are only embarrassing yourself by replying regardless of whether it is called a "game" 70% of the company was sold to the public hence that is what we own of the company,

it is extremely disheartening to read your posts considering that all you seem to do is talk down to people who are probably better off than you,

No, nothing what this tool says is dead on. It shows the kind of dangerous half-knowledge that gets you killed in this market. Wild unbased speculations paired with immature ramblings.

VE is the one who is dead on. And he never said that "Asicminer was done".
He advised people to sell AM now and get into this stock, which is the same thing I'd advise.
AM is not going to die, but it has seen its peak. If you want to make huge returns, you undertake a risk and invest in the competitor to AM that bitcoin desperately needs.

And VE is also completely correct to state that this is all virtual, you don't own shit. Not 1% of the company, not 70%. Nada.

Yes Physalis, you are right, and the American Judicial system that said the above is wrong. I guess you can come to america and say "This is all virtual" lmao

[Luckybit]

its pointless to argue with either of you, regardless of whether its a game or not money is involved and works like the stock market

the company issues shares and promise we invest based on that then the valuation will find itself once they are selling hardware and mining, I am not saying they are obligated to do anything but this is how it works and calling it a game isnt going to save it from scrutiny if the govt decides to do anything

both of you are just bantering uselessly,

Never said it would save them from any scrutiny. If they turn out to be a scam then there will be scrutiny whether it's a game or not. Even games aren't allowed to completely scam people. If blizzard offered people a new game and didn't follow their own terms then even if its a game there are consequences.

My point is that we don't have any precedent to know what it is legally and that is the main reason why it is so much risk and why people want ROI ASAP. ROI builds trust and if people have essentially got back what they initially put into it then there is no more risk on their part.

[JohnyBigs]

End of the day If I say John, I will give you 5% of profits from my operations paid in Virtual Currency, if you invest x amount of money. Even though it's virtual you can go to court and sue for your promised virtual goods, since you have made a binding contract.

But NAW yo, cause I'm superior than governments, and even though they say otherwise I say NAW

[physalis]

End of the day If I say John, I will give you 5% of profits from my operations paid in Virtual Currency, if you invest x amount of money.

That is not the same as owning the company!

Nobody said you don't have any legal claims, or that you don't have a contract with them. But you don't own their company, because these are not regular stock exchange shares!

For fucks sake, really. I'm putting you back on my ignore list, you're pissing me off.

[Luckybit]

End of the day If I say John, I will give you 5% of profits from my operations paid in Virtual Currency, if you invest x amount of money. Even though it's virtual you can go to court and sue for your promised virtual goods, since you have made a binding contract.

But NAW yo, cause I'm superior than governments, and even though they say otherwise I say NAW

You made your point. They are going to be made to uphold their end of the virtual contract or whatever it is. The problem is in defining it as a stock though because I'm not sure if it fits the definition. It's for sure that people who play the game by the rules and terms have a right to what was promised even in the context of the game rules. So whether its a game or not should not matter.

[Mabsark]

I would bet that even if you added up the net worth of both of these people it would not even equal 100 BTC

What relevance does that have? Anyone who judges people based on their wealth is a complete and utter arsehole. Sadly, that applies to far too many people on these forums.

[ajk]

That is not the same as owning the company!

Nobody said you don't have any legal claims, or that you don't have a contract with them. But you don't own their company, because these are not regular stock exchange shares!

For fucks sake, really. I'm putting you back on my ignore list, you're pissing me off.

this is wrong.. regardless of whether the company is not listed on a market they have sold 70% of their company to the public, regardless of whether BTCT goes away they should still be obligated to pay shareholders since that is how they came to fruition... what about when GLBSE closed? Friedcat still maintained a list of shareholders and when a new exchange opened he continued to keep to his contract

If we didnt believe Labcoin would do the same in a similar situation why the hell are you investing in their company? fact is 70% of the company is OWNED by investors

both of you are dumb.. im going to watch tv

[ajk]

What relevance does that have? Anyone who judges people based on their wealth is a complete and utter arsehole. Sadly, that applies to far too many people on these forums.

Net worth has relevance in the investing world considering it shows that they have a proven track record of good decision making, maybe its sad to you but to me and a lot of my peers consider net worth something that matters

[HuLaN]

Bubble!

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[Luckybit]

I would bet that even if you added up the net worth of both of these people it would not even equal 100 BTC

What relevance does that have? Anyone who judges people based on their wealth is a complete and utter arsehole. Sadly, that applies to far too many people on these forums.

Social darwinism.

[superduh]

every single time i check this thread someones always bitchin about something someone said or something