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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
creativex
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August 28, 2013, 12:05:22 PM
 #4081

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.

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BlockChains
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August 28, 2013, 12:06:30 PM
 #4082

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

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August 28, 2013, 12:07:01 PM
 #4083

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

I can't stand this, it's:

4 TH = 4,000,000 MH

So 4,000,000 MH / 10,000,000 = .4 MH / Share

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physalis
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August 28, 2013, 12:08:12 PM
 #4084

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
4 TH = 4000000 MH
4000000 MH / 10 mil shares = .4 MH/share

That's not much, but the shares are also really cheap, and this is not a mining bond.
The most important part is that Labcoin plans to deploy ~50 TH within the coming 2 months
San1ty
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August 28, 2013, 12:08:45 PM
 #4085

Lol isn't there anyone here that can do a basic calculation? Check my previous post for the answer...

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yuansuyi
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August 28, 2013, 12:09:24 PM
 #4086

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.  
I guess they need time to put all chips on to boards and get them running.
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August 28, 2013, 12:09:37 PM
 #4087

Lol isn't there anyone here that can do a basic calculation? Check my post for the answer...

thanks
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August 28, 2013, 12:10:54 PM
 #4088

Lol isn't there anyone here that can do a basic calculation? Check my post for the answer...

your post is just wrong dude

boyohi
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August 28, 2013, 12:10:58 PM
 #4089

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.

Yes. I'm amazed at VE for having the patience to deal with them. I was just watching because its scary when mommy and daddy fights.

On another note. I sold everything I owned to buy labcoin. Running a potato right now just to check on the forum and btct
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August 28, 2013, 12:12:01 PM
 #4090

Also by comparison AsicMiner is approx 60,000,000mhs/400,000 = 150mhs /share

150mhs/.4mhs = 375x valuation

2.8btc/375 = .0074 price per share of labcoin
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August 28, 2013, 12:13:22 PM
 #4091

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.

so those who spread the fud are in big trouble?
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August 28, 2013, 12:15:19 PM
 #4092


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stslimited
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August 28, 2013, 12:15:50 PM
 #4093

according to btct.co,  1% of my bitcoins have been made from dividends, 80% of my bitcoins have been made from trading.


and I most likely bought the other 19%
San1ty
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August 28, 2013, 12:16:22 PM
 #4094

Also by comparison AsicMiner is approx 60,000,000mhs/400,000 = 150mhs /share

150mhs/.4mhs = 375x valuation

2.8btc/375 = .0074 price per share of labcoin

Good job, Looks legit!

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creativex
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August 28, 2013, 12:17:20 PM
 #4095

Also by comparison AsicMiner is approx 60,000,000mhs/400,000 = 150mhs /share

150mhs/.4mhs = 375x valuation

2.8btc/375 = .0074 price per share of labcoin

ASICMiner is also over one year ahead of LC. They'll be rolling out G2 while LC is struggling to grab and hold a small share of the global network with a process node AM is phasing out and at a time when 28 - 55nm will be taking the lead. LC has to move very quickly and cannot afford to make any major mistakes. They'll need their 65nm chips pronto.

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August 28, 2013, 12:22:39 PM
 #4096

Also by comparison AsicMiner is approx 60,000,000mhs/400,000 = 150mhs /share

150mhs/.4mhs = 375x valuation

2.8btc/375 = .0074 price per share of labcoin

AM also has hardware sales that have contributed to dividends as well as a reinvestment fund that probably dwarfs labcoins net worth, which means LC is worth significantly less than that. 
AngelSky
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August 28, 2013, 12:23:18 PM
 #4097

Also by comparison AsicMiner is approx 60,000,000mhs/400,000 = 150mhs /share

150mhs/.4mhs = 375x valuation

2.8btc/375 = .0074 price per share of labcoin

ASICMiner is also over one year ahead of LC. They'll be rolling out G2 while LC is struggling to grab and hold a small share of the global network with a process node AM is phasing out and at a time when 28 - 55nm will be taking the lead. LC has to move very quickly and cannot afford to make any major mistakes. They'll need their 65nm chips pronto.

G2? Where? BTW, would you buy AM shares atm ? Because I wouldn't. On the other hand, LC seems promising.

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Bitcycle
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August 28, 2013, 12:23:33 PM
 #4098


Yes, this looks like a good price to dump your shares.


Who are these people and what are they thinking?
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August 28, 2013, 12:24:50 PM
 #4099

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.

I do not need to comment, I never mentioned anything about management. It was about your professionalism. If it is "easily among the worst managed companies ever," and "unprofessional doesn't even begin to describe." Why the hell do you have your company funds in it?  Huh
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August 28, 2013, 12:25:59 PM
 #4100

They are crazy, think they expect more fud or something..

BTW: LC will also include hardware sales in dividend eventually Smiley
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