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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1039946 times)
mfalme
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September 10, 2013, 07:01:26 AM
 #6541



Thats what Labcoin said like 29 pages ago, so you know its true  Wink

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Ytterbium
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September 10, 2013, 07:05:42 AM
 #6542

I love how the sentiment has changed from "Labcoin is a scam, sell all your shares now the price will crash!!!!" to "Labcoin is a scam, I think I might hold for a while because these guys are really good scammers and the stock price will probably go up in the short run."

Most of the "Labcoin is a scam" people seem to have, lets just say, limited understanding of the "real world" (or math, or anything else).  The reality is it isn't that difficult to make an ASIC. Especially not a 130nm one. There is no reason to think Labcoin's 130nm chip doesn't exist.  

Or, if they didn't have their own chip design they could simply have purchased a bunch of bitforce 55nm chips. 50Th/s of Bitforce chips for October delivery costs just $1m. So they could get most of the way there with just their IPO money.

Anyway here's the thing, guys: it's possible to be a scam  and have your own chips.  So to me the idea that they're a scam and there are no chips makes no sense.  Why wouldn't they have chips?  Designing a chip at the logic level and sending it off to a another company to work with a fab and have it made isn't black magic.  It's not that difficult to do if you have the money.

Plus, look at BFL.  They obviously have a chip, and yet they are still a complete scam.

So anyway, if this is a scam it's more likely to be a long con like BFL.  Keep people going a long and make money for a long time rather then a quick one-hit megascam where they instantly take all the money and run.

That said, I think the most plausible explanation is that they're busy setting up mining farm. If the guy with the 'labcoin' user account is in Europe obviously it's not going to be easy for him to get pics.  I think the people claiming that it's a scam are a bit out to lunch.

That said, though I think Solo mining is a really bad idea.  Luck will have a huge impact, especially at low hash rates. Blocks can easily take 10x as long as the average time to find, and at a low hashrate a string of bad luck can mean permanently losing out on a difficulty period.   You will not have the chance to 'make it up later' because the 'later' will have a higher difficulty

When the difficulty plateaus solo mining would be a reasonable thing to do, or when you have a decent chunk of the network.

For now, labcoin really needs to join a pool.  Solo mining at this point is just gambling with investor money.

somestranger
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September 10, 2013, 07:11:22 AM
 #6543

Good post, Ytterbium. I think this means it is time to BUY, BUY, BUY!! The price is going to skyrocket once we get pictures of the chips hashing.
hasher87
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September 10, 2013, 07:14:23 AM
 #6544

swede promised to post the pictures in 48hrs...lets hope he delivers!!

or watch the stock price crash down harder like titanic!

goddammit nad
zumzero
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September 10, 2013, 07:16:41 AM
 #6545

If the guy with the 'labcoin' user account is in Europe obviously it's not going to be easy for him to get pics.

Why is this?  I'm in Europe and I have access to email and digital cameras the same as our American cousins do.

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drawingthesun
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September 10, 2013, 07:17:05 AM
 #6546

swede promised to post the pictures in 48hrs...lets hope he delivers!!

or watch the stock price crash down harder like titanic!

Swede did? Link please.
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September 10, 2013, 07:19:11 AM
 #6547

As to why there are no pictures right now, its because we are getting to the point where the share manipulation will no longer be viable (once the chips are proven and pics are out)

So Labcoin only has perhaps 1 more big drop in store before they will release the pictures.

I think Labcoin will then turn their attention to making the business work after that.
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September 10, 2013, 07:21:06 AM
 #6548

swede promised to post the pictures in 48hrs...lets hope he delivers!!

or watch the stock price crash down harder like titanic!

Swede did? Link please.
okay, not exactly a 'picture update' https://bitcointalk.org/index.php?topic=263445.msg3118937#msg3118937

either way lets hope for the picture time aroun

goddammit nad
bclcjunkie
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September 10, 2013, 07:31:52 AM
 #6549

shhhh... don't let everything out man, i was curious who would be able to spot this first... good observation....

so Labcoin has 2 terahash, and expects to deploy 50 terahash by the end of the month and still won't be selling hardware?


ASICMiner has 60 terahash as is.....................................


I don't have enough dots to express my cognitive dissonance

but I haven't been a shareholder for a few weeks because of this inability to form a conclusion given the current information (coupled with the 150% profit I already had)

Your also forgetting one important thing,

ASIC miner has 400,000 shares @ ~2.3BTC, makes a market cap of 920,000BTC
LABCOIN has 10,000,000 @ 0.0036, market cap of 36,000BTC

Notice the difference in the figures here? for Labcoin at current prices they only need to do 1/25 of what ASICminer is doing....
BitCsByBit
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September 10, 2013, 07:33:08 AM
 #6550

If the guy with the 'labcoin' user account is in Europe obviously it's not going to be easy for him to get pics.

Why is this?  I'm in Europe and I have access to email and digital cameras the same as our American cousins do.


Go back to sleep.

I thought your mission has been accomplished and you're moving on.



I'm getting my revenge on Mab because of the way he carried on in the ActM threads.  No more, no less. An eye for an eye, a tooth for a tooth.  It's that simple.  And yes, it is quite entertaining.


I had a real effect on share price tonight by pointing out some home truths about this company.  I had zero financial motivation to do so.  I was disgusted with the way you conducted yourself on the ActM thread for a prolonged period and am now happy that I feel I have paid you back the favour.  I don't care if you make money or lose money or if this company succeeds.  I simply wanted you to be on the receiving end of some good old fashioned fud.  I am not insane, nor am I stupid.  I am intelligent and very well balanced.  Good night.  Smiley


Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
carpetbagger
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September 10, 2013, 07:43:35 AM
 #6551

Amazing company Smiley

Keep clam & hodl on
demzie
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September 10, 2013, 07:48:28 AM
 #6552

What kinda bots are people using on btct.co ?
hasher87
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September 10, 2013, 07:49:14 AM
 #6553

What kinda bots are people using on btct.co ?
whale bots

troll bots

 Roll Eyes

goddammit nad
Ytterbium
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September 10, 2013, 07:49:28 AM
 #6554

Good post, Ytterbium. I think this means it is time to BUY, BUY, BUY!! The price is going to skyrocket once we get pictures of the chips hashing.

I'm not sure.  It might finally get past four, but my working theory is that prices are so low because there just isn't enough money on the exchanges, period. Not many people know about these exchanges, many are likely scared off by the TOS that says the exchange is 'for educational purposes only' and you're not actually buying anything when you spend your money you're just transferring ownership of your bitcoins, etc.

A lot of the people buying shares are probably people who made most of their money mining bitcoin in the first place, for them bitcoin mining seems like a fairly obvious and relatively safe way to make money - and are looking to stay in the mining game and keep the free money rolling in.  

As opposed to people cashing out their 401(k)s they worked their whole lives to build to buy these mining stocks.

On the other hand, there are also people who just don't seem to have any idea what's going on, they seem like gamblers or people who would be taken in by actual internet scams, or something. Oh well.

Ytterbium
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September 10, 2013, 07:58:14 AM
 #6555

swede promised to post the pictures in 48hrs...lets hope he delivers!!

or watch the stock price crash down harder like titanic!

Swede did? Link please.
okay, not exactly a 'picture update' https://bitcointalk.org/index.php?topic=263445.msg3118937#msg3118937

either way lets hope for the picture time aroun

What exactly are pictures going to prove?  The other day people were bitching because anyone could buy any LQFP44 chips and take a photo of them, no one would know whether or not they were 'real' labcoin chips or what.

So, if they were a scam, they could just solder those random LQFP44s onto a random circuit board.

Once they do release pictures I'm sure we'll see bunch of pixel detectives showing up claiming it was shopped.

onecent
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September 10, 2013, 08:04:14 AM
 #6556

swede promised to post the pictures in 48hrs...lets hope he delivers!!

or watch the stock price crash down harder like titanic!

Swede did? Link please.
okay, not exactly a 'picture update' https://bitcointalk.org/index.php?topic=263445.msg3118937#msg3118937

either way lets hope for the picture time aroun

What exactly are pictures going to prove?  The other day people were bitching because anyone could buy any LQFP44 chips and take a photo of them, no one would know whether or not they were 'real' labcoin chips or what.

So, if they were a scam, they could just solder those random LQFP44s onto a random circuit board.

Once they do release pictures I'm sure we'll see bunch of pixel detectives showing up claiming it was shopped.

No doubt. Cheesy Appreciate your patience, I am already tied of arguing the *scam* thing.  Every time after someone screaming *scam* I just get my coins ready for bids.
MaxSan
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September 10, 2013, 08:13:18 AM
 #6557

Ytterbium I like you, you speak a lot of sense.
TsuyokuNaritai
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September 10, 2013, 08:20:41 AM
 #6558

Ytterbium I like you, you speak a lot of sense.
+1

AngelSky
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September 10, 2013, 08:54:03 AM
 #6559

I have gotten a few PM's and just wanted to show up and ensure people that I have not disappeared. I talked to Sam and there will be an update in the next 48 hours.

I am traving but will coordinate with Sam and update the forum, blogs and other news sources as we have info.

TLDR: not dead, info coming. I meant to update earlier but have been somewhat out of Internet due to travel.

I hope he knows what he's doing by telling that  Grin

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aquarius
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September 10, 2013, 08:56:47 AM
 #6560

a lot of selling now. well, it seems people are starting to lose patience again and I can´t blame them.

I would not be surprised if we go down to .003 before we hear anything from the clowns in charge.
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