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

[eastpk]

Woke up, checked price. Nothing changed over night...  

I wonder if more people now are angry or happy with trading in the last hours.

I'm a bit bummed that I didnt try to get more shares out of the panic selling, but I still have a decent bit of shares so I'm happy haha... not too good at day trading so I didnt want to risk it

[1714254331]

1714254331

[1714254331]

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[Mutated btc]

Woke up, checked price. Nothing changed over night...  

I wonder if more people now are angry or happy with trading in the last hours.

I'm a bit bummed that I didnt try to get more shares out of the panic selling, but I still have a decent bit of shares so I'm happy haha... not too good at day trading so I didnt want to risk it

XD it will go mad high soon, after people who missed read the update and those who went off before update

[eastpk]

Woke up, checked price. Nothing changed over night...  

I wonder if more people now are angry or happy with trading in the last hours.

I'm a bit bummed that I didnt try to get more shares out of the panic selling, but I still have a decent bit of shares so I'm happy haha... not too good at day trading so I didnt want to risk it

XD it will go mad high soon, after people who missed read the update and those who went off before update

Definitely! Any news is pretty good news.... people seemed to be freaking out yesterday when they heard Swede's comment.... so much panic is funny haha. I'm excited to see where this company will go 

[stslimited]

3-4 terahash? how many megahash/share is that? PM me thanks

lets see, 10,000,000 shares

3,000000 - 4,000000 terahash

10/3.5 = 2.85 megahash / share

[AngelSky]

Next week predictions, post will look like this:

• happy with buys below 0.004
• regret selling around 0.0035
• share locks, yet?
• big bubble
• amazing company
• scam!!!
• sell sell sell
• they are totes out to fab
• amazing company

not sure if I missed anything.

Edit:

You forgot "amazing company".  I know you listed that once, but you should have listed it twice. 

I think I got the week pretty accurate so far.

Yep rofl

[Vigil]

3-4 terahash? how many megahash/share is that? PM me thanks

that is when they first get it running, they will push that to 5-6TH.

[hasher87]

with LC's latest news, as if i never sold my previous shares lol

managed to get +60 shares out of  

[eastpk]

3-4 terahash? how many megahash/share is that? PM me thanks

lets see, 10,000,000 shares

3,000000 - 4,000000 terahash

EDIT: was pointed out this was incorrect - please disregard!

[blastbob]

[dexX7]

Woke up, checked price. Nothing changed over night...  

Well there is a downside though. The book yesterday and the days before was pretty balanced and filled with many orders (400 BTC to .003, 350 BTC to .004 for example). It takes some time to regain strengh. On the other hand: I assume shares are now in stronger hands.

[boyohi]

Next week predictions, post will look like this:

• happy with buys below 0.004
• regret selling around 0.0035
• share locks, yet?
• big bubble
• amazing company
• scam!!!
• sell sell sell
• they are totes out to fab
• amazing company

not sure if I missed anything.

Edit:

You forgot "amazing company".  I know you listed that once, but you should have listed it twice. 

I think I got the week pretty accurate so far.

he must be working with devil to reveal some of future

You missed DVD bet homo -> Place your bets

Sorry I have him on ignore so its hard to predict what he'll do.

He looks like this on my screen:


He kinda blends in.

[cw92]

Exactly how do you guys believe they will "tweak" the chips to double the hash rate?  If you think they'll just start hashing with more chips to make up for it that completely defeats the purpose/credibility of the original projections.  

[eastpk]

Guys... here's the news just incase anyone hasnt seen it... this was posted up on BTCT

Status update

We have received the first chip batch and we're working full speed on finalizing the controller board design, mining will start no later than 10 September with about 3-4 TH, and to reach the full speed within October. Dividend payments will start on the same week.
We again remind everyone that the team shares won't be sold. We understand the investors concerns and we will be publishing pictures of the installment as soon as we are able to, before mining will start.

[physalis]

3-4 terahash? how many megahash/share is that? PM me thanks

lets see, 10,000,000 shares

3,000000 - 4,000000 terahash

I'm not sure if this would be right, but there is 10mil shares, and 4TH is about 40,000MH - which is about 250MH per share? Someone please correct me if I'm wrong.

I don't even know where to start correcting.

[eastpk]

3-4 terahash? how many megahash/share is that? PM me thanks

lets see, 10,000,000 shares

3,000000 - 4,000000 terahash

I'm not sure if this would be right, but there is 10mil shares, and 4TH is about 40,000MH - which is about 250MH per share? Someone please correct me if I'm wrong.

I don't even know where to start correcting.

hahah sorry! I know my math was horrible on this, literally just thought of it in my head

[hasher87]

lets hold up the shares ppl!

[stslimited]

3-4 terahash? how many megahash/share is that? PM me thanks

lets see, 10,000,000 shares

3,000000 - 4,000000 terahash

I'm not sure if this would be right, but there is 10mil shares, and 4TH is about 40,000MH - which is about 250MH per share? Someone please correct me if I'm wrong.

I don't even know where to start correcting.

the answer though?

[canth]

That was really dumb of Swede to post. Hi, I can't get a hold of the company with all of your money? Are you kidding? First, even if you can't get a hold of him you shouldn't post such non sense.

Post something generic, no news update yet, should be soon ect. blah blah. The fact that they have a communication problem is scary.

You seem to be twisting his words quite a bit.
Let me quote:
"I just wanted to stop by and say that I have not been able to talk to Sam today. I do realize that "next week" is here and as soon as I have anything to report I will. I realize a "nothing to report yet" report is just that, but as soon as I hear anything it will be posted here and on BTCT.CO news section."

I appreciate this update, and is much better than silence.  You want to know how much silence will rip you apart?  -- Go look at activemining.  Ken is a silent prick who doesn't give updates at all.  Meanwhile his shareholders are shitting their pants.    

Be grateful that we heard TheSwede say something.  1 day of no communication is okay.  3 weeks of no communication from ken slaughter is not.  As far as I'm concerned, Labcoin is still the best with informing us with up to date information, even if the update is "sorry, not yet".  Activemining investors are begging Ken to do SOMETHING.  Even a fart would be amazing.  Labcoin investors are spoiled brats, and should shut the fuck up, IMO.

Anyone else find it funny (tragic) that in 10-20 pages of mostly useless rants and FUD, VE manages to have one of the calmer and more rational comments? +1 for everything he said. I'd like to add:

We are investing in a Chinese bitcoin mining startup. Language, time zones, priorities, etc are all going to get in the way of the stable path to Rick Jones status.

There are going to be times when it sucks not having enough information. For all those who are so ready to break out the "there are no chips, they're running off with our BTC, it's a scam" mantra - there are real world consequences for someone to attempt this. For most business owners that have a lot to lose, this isn't the kind of money that you risk jail time or worse with. Is it possible? Yes. It's not probable though, especially in China where the authorities frown upon fraudulent crowd-funding.

Also, they're communication leaves a lot to be desired. Many otherwise solid companies have this problem though and I'd prefer they were a solid engineering company with mediocre communications than the other way around.

Stop freaking out - unless you have your credit card maxed out on LC, hoping that it makes you rich then you should be comfortable with your investment. If you're that guy, don't be that guy or good luck.

[creativex]

Easily among the worst managed companies ever. Why does it seem like everything's being done by a guy in his mom's basement? Unprofessional doesn't even begin to describe.

haha someone is mad. Isn't it unprofessional for you to be commenting like this?

Mad? Why do you say that? What's unprofessional about making a comment? A comment shared by many I might add. Do you think the company has been well managed? If so why/how?

Because you made poor decisions regarding your labcoin shares and you sound mad. I recall you selling all your shares because you weren't patient before the price rocketed. You complain about the lack of transparency, yet you still decided to invest with bASIC reserves. Stick to running your company, I don't see other company owners going into your thread and commenting.

So no comment then? Can I assume then that you do feel this company has been well managed?

I chose to invest in this IPO with my own funds and sold those for a profit quite some while ago, mostly due to the company's lack of transparency and inability to follow through on it's plans(founder shares still not locked). I like their business model, I do not like their execution.

I manage a company that holds shares in this company and I have every right to comment here. If you don't like it simply click the ignore button on the left there.

[BlockChains]

3-4 terahash? how many megahash/share is that? PM me thanks

lets see, 10,000,000 shares

3,000000 - 4,000000 terahash

10/3.5 = 2.85 megahash / share

4,000,000 MHs / 10,000,000 shares = .4 MHs per share