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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1042120 times)
velacreations
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September 10, 2013, 03:27:04 PM
 #6621

So let's be clear here-

This company has announced the start of operations. This means that their plan is working. They have encountered no major technical roadblocks. They have executed, and done so on schedule.

Everyone here, in this thread full of absolute geniuses, spends their time concocting more and more ridiculous scenarios under which the whole thing is a scam.

Share price goes right back to where it was before the announcement, indicating there is the exact same amount of uncertainty as before.

Only there isn't. There's more fantasized uncertainty, but the major areas of uncertainty have been removed.


actually, there is still a lot of uncertainty.  If what they say is true, they have been able to bring 2 TH online.  That's a great first step, but it is by no means conclusive that they can meet their proposed plans.

The uncertainty and lack of information about the share locks is another issue that has been failed to be addressed.

I have yet to see a block stamped "Labcoin", so there is no evidence that they are actually mining.

Joining a pool (third party confirmation) or stamping blocks would remove some uncertainty, but the fact remains that bringing 2 TH online is not the same thing as bringing 300 TH online.  So, there will still be a significant level of uncertainty until we see them perform at much higher levels.

Their communication needs to be improved.  

Don't get me wrong, I own shares, and I'm holding.  BUT, I do see some blatant issues that continue to be ignored/overlooked, and the more they do this, the less credibility they have.  IMO, these posts without corresponding evidence hurts their credibility more than it helps.

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velacreations
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September 10, 2013, 03:29:18 PM
 #6622

The burden of proof is on you if you want to call it a scam. I think most people have you ignored. So I'm just going to clean up the quote a little so they don't have to read you.

That's ridiculous.  The burden of proof is squarely on the shoulders of Labcoin to back their statements and address the numerous issues that shareholders feel are important.  They are the ones making claims, here.  Claims like "we're hashing" should be accompanied by evidence (stamped blocks and/or pool mining).

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September 10, 2013, 03:31:28 PM
 #6623

It seems to me, given the history of how this has progressed, that there is a bit of a pattern. I don't know whether to attribute it to benefitting insiders or the less nefarious angle of rewarding those with faith. As the bitcoin community tends to be rather fickle (and let's face it, generally less mature than standard street investing), coddling can get rather tiresome. So make an announcement with little obvious evidence, price temporarily spikes, those who still believe either hold or sell to improve position in the subsequent correction due to no "evidence". Position is improved when buying back a bit lower (don't know what the average time frame is on this but it seems to be within a week of the news) and then shortly thereafter is the evidence. This causes another spike, marginal sustained increase in price floor, and interest wanes again waiting for the next bit of news. Maybe I'm alone here but if I were running things, I would probably care more about getting shit done than I would placating the skeptical investors that are most likely only looking for short-term gains.

Just a casual, and admittedly somewhat unfounded, observation. Feel free to disagree completely. Smiley

disagree completely, as my unfounded observations are plainly superior to your unfounded observations. Smiley

j/k btw. You made some good points.

I would rather have them work on their chips than to cater to the speculators. They have a lot of work to do to catch up to the market leader. They will prove themselves in time or not. Either way is fine with me.
aquarius
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September 10, 2013, 03:32:18 PM
 #6624

As for me. LC is doing good enough for me to keep my shares. They have met their deadlines and the under-performance in the chip is expected. If they keep this up its going to be a good Halloween.

For those concern about my shares and me keeping them, thanks for telling me how to spend my money. I think I'm capable of doing that on my own.

At IPO they said they will have chips by end of August and expect to start hashing at beginning of September. They also mentioned 65nm chips in development.

The point of the IPO was to get the funds to produce the chips and the chips would arrive 4-5 after IPO. It arrived on time.

After the chips arrive they would sell some of the chips and start hashing with the rest.

All the while they are developing the 65nm chips.
Right now there is no way to prove if they are telling the truth or lying. I choose to give them the benefit of doubt because they give me no reason to do otherwise. They didn't accept preorders for their chips and they could have gotten 2x-3x their IPO ask price but chose not to.

The burden of proof is on you if you want to call it a scam. I think most people have you ignored. So I'm just going to clean up the quote a little so they don't have to read you.

so you are comfortable recommending an investment sold by people you never met/know which in turn have never presented any evidence that indicate they can be trusted?

again, I am not saying it is a scam and if they produce proof of hashing/production I will be happy to buy back in!
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September 10, 2013, 03:38:01 PM
 #6625

The burden of proof is on you if you want to call it a scam. I think most people have you ignored. So I'm just going to clean up the quote a little so they don't have to read you.

That's ridiculous.  The burden of proof is squarely on the shoulders of Labcoin to back their statements and address the numerous issues that shareholders feel are important.  They are the ones making claims, here.  Claims like "we're hashing" should be accompanied by evidence (stamped blocks and/or pool mining).

Proof will come just be patient, LC already stated they would. You would have to prove they will not give proof. Right now they get the benefit of the doubt and we'll see if they are keep their word some time in the next 7 days. In the meantime its pointless saying they will not prove they are hashing without giving some evidence. They will prove themselves right or wrong.
MaxSan
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September 10, 2013, 03:39:39 PM
 #6626

Honestly reading this thread has gave me cancer. Even if they do get 300TH online il be dead before I get a chance to see any dividends anyway.
boyohi
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September 10, 2013, 03:45:47 PM
 #6627


Well I'm ok with investing my money. They have to make their own decision base on their individual cost/risk. I don't recommend anything to anyone because there is nothing risk free.
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September 10, 2013, 03:46:34 PM
 #6628

How's that 7,000,000 wall over on the ice.drill?

[GOOD NEWS EVERYONE]

Thanks to the BTC price rise, that wall is melting:
Thanks for asking!   Cool

Lol there are more shares on offer now than the last time I checked, they have just been spread out lol.

Icedrill I have realised you are too cunning to have any btc tied up in IceDrill, it is dead in the water and though you might invest if another 6MILL shares are bought you won't be in now.

So you are split three ways - LC, ACtM, AM-PT. Correct? lol Atleast the money you lose on LC you will get back from ACtM.

 Huh  Since when is a "wall" also "spread out?"  You sure a Very Special Person, Stuart!   Roll Eyes


lol I didn't even use the word 'wall' - I said 'more shares on offer now' as you can clearly see.

What a pathetic reply. Sorry, but you have lost it over the past few weeks, you used to be quite sharp.

We were discussing the 7million@0.0016 wall put up by ice.drill has been reduced by 750k shares, thanks to the increase in $/BTC.

I know it's hard, but do try and keep up.   Smiley

I'm very happy to be all in Ice.Drill and all out of ACTM, LC, and AM-PT.  

The adults have arrived in the form of HashFast, and their upcoming disclosures are going to blow you and the Chinese scam IPOs away.

Good luck with your clown stocks!   Cool
What's wrong on investing on both?
There is plenty of room for at least 2 companies in asic mining IMO...

This ^^ I have invested in both.
JohnyBigs
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September 10, 2013, 03:47:37 PM
 #6629

Honestly reading this thread has gave me cancer. Even if they do get 300TH online il be dead before I get a chance to see any dividends anyway.

Lmao
boyohi
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September 10, 2013, 03:48:18 PM
 #6630

Honestly reading this thread has gave me cancer. Even if they do get 300TH online il be dead before I get a chance to see any dividends anyway.

Sorry about your cancer. I hope you get compensated.
aquarius
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September 10, 2013, 03:48:38 PM
 #6631

The burden of proof is on you if you want to call it a scam. I think most people have you ignored. So I'm just going to clean up the quote a little so they don't have to read you.

That's ridiculous.  The burden of proof is squarely on the shoulders of Labcoin to back their statements and address the numerous issues that shareholders feel are important.  They are the ones making claims, here.  Claims like "we're hashing" should be accompanied by evidence (stamped blocks and/or pool mining).

Proof will come just be patient, LC already stated they would. You would have to prove they will not give proof. Right now they get the benefit of the doubt and we'll see if they are keep their word some time in the next 7 days. In the meantime its pointless saying they will not prove they are hashing without giving some evidence. They will prove themselves right or wrong.

I hope and wish you are correct, but as long as we are honest about what is going on then maybe others might be careful about how much they have tied up.

The reason I am a bit nervous about all this is because I basically grew up as a street kid and learned the hard way to spot situations that would have given me disadvantages. Call it 'street smarts' or whatever. But I am telling you in all honesty that all my alarm bells are going off with all the weirdness and unfulfilled promises going on.

Take it for what you will, but I am not saying this to troll or anything like that. I like to think of myself as a moral person that´s just being sincere about my opinion. Smiley
wickedgoodtrader
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September 10, 2013, 03:51:10 PM
 #6632

The burden of proof is on you if you want to call it a scam. I think most people have you ignored. So I'm just going to clean up the quote a little so they don't have to read you.

That's ridiculous.  The burden of proof is squarely on the shoulders of Labcoin to back their statements and address the numerous issues that shareholders feel are important.  They are the ones making claims, here.  Claims like "we're hashing" should be accompanied by evidence (stamped blocks and/or pool mining).

Proof will come just be patient, LC already stated they would. You would have to prove they will not give proof. Right now they get the benefit of the doubt and we'll see if they are keep their word some time in the next 7 days. In the meantime its pointless saying they will not prove they are hashing without giving some evidence. They will prove themselves right or wrong.

Uh.. we did just prove they didn't give proof on their last announcement. You are also ass backwards in your thinking.
JohnyBigs
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September 10, 2013, 03:52:38 PM
 #6633

The burden of proof is on you if you want to call it a scam. I think most people have you ignored. So I'm just going to clean up the quote a little so they don't have to read you.

That's ridiculous.  The burden of proof is squarely on the shoulders of Labcoin to back their statements and address the numerous issues that shareholders feel are important.  They are the ones making claims, here.  Claims like "we're hashing" should be accompanied by evidence (stamped blocks and/or pool mining).

Proof will come just be patient, LC already stated they would. You would have to prove they will not give proof. Right now they get the benefit of the doubt and we'll see if they are keep their word some time in the next 7 days. In the meantime its pointless saying they will not prove they are hashing without giving some evidence. They will prove themselves right or wrong.

I hope and wish you are correct, but as long as we are honest about what is going on then maybe others might be careful about how much they have tied up.

The reason I am a bit nervous about all this is because I basically grew up as a street kid and learned the hard way to spot situations that would have given me disadvantages. Call it 'street smarts' or whatever. But I am telling you in all honesty that all my alarm bells are going off with all the weirdness and unfulfilled promises going on.

Take it for what you will, but I am not saying this to troll or anything like that. I like to think of myself as a moral person that´s just being sincere about my opinion. Smiley

What unfulfilled promises? They are fullfilling everything and have always kept their word about posting pics after announcements ect.
velacreations
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September 10, 2013, 03:55:29 PM
 #6634

The burden of proof is on you if you want to call it a scam. I think most people have you ignored. So I'm just going to clean up the quote a little so they don't have to read you.

That's ridiculous.  The burden of proof is squarely on the shoulders of Labcoin to back their statements and address the numerous issues that shareholders feel are important.  They are the ones making claims, here.  Claims like "we're hashing" should be accompanied by evidence (stamped blocks and/or pool mining).

Proof will come just be patient, LC already stated they would. You would have to prove they will not give proof. Right now they get the benefit of the doubt and we'll see if they are keep their word some time in the next 7 days. In the meantime its pointless saying they will not prove they are hashing without giving some evidence. They will prove themselves right or wrong.
no, no, see, that's the whole complaint.  Why make a statement WITHOUT evidence?  That's not how you do PR when you are a startup.  You make a claim, and at the time of making the claim, you back it up with evidence.  The time to post evidence was on Sep 10, which was the self-imposed deadline for starting hashing. It would have been really simple to just join a pool, you know.  Or do any number of other things to back up their statements at the time of announcement.

Making an announcement without evidence hurts their credibility, and that's why the share price is dropping.  Their word is worth nothing, because it has never been shown to be valid.

Why should anyone give them the benefit of the doubt?  "hey guys, I just brought 50 TH/s online, give me money!"  That statement sounds ridiculous, but that's exactly what they have done.  People gave BFL and Pirate40 the benefit of the doubt, and look where they are.  It's ridiculous to demand trust without providing something to go on.

More questions:
Why hasn't the share locking issue been addressed?
When will the block stamping start?
Why not mine in a pool?

Don't expect the share price to gain much until we see real evidence.  Announcements are not cutting it anymore, they need to post something real.  People are jumping ship, and if this continues, we'll likely see sub .0035 within 24 hours.

velacreations
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September 10, 2013, 03:57:20 PM
 #6635

What unfulfilled promises? They are fullfilling everything and have always kept their word about posting pics after announcements ect.

locking of the shares for one.  Also, they stated pictures would be posted before the hashing started.

They have NEVER kept their word, because they have not shown conclusive evidence to back up their statements. 

Photos are not conclusive, stamping blocks and/or pool mining would be a much better step in the right direction.

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September 10, 2013, 03:57:56 PM
 #6636

The burden of proof is on you if you want to call it a scam. I think most people have you ignored. So I'm just going to clean up the quote a little so they don't have to read you.

That's ridiculous.  The burden of proof is squarely on the shoulders of Labcoin to back their statements and address the numerous issues that shareholders feel are important.  They are the ones making claims, here.  Claims like "we're hashing" should be accompanied by evidence (stamped blocks and/or pool mining).

Proof will come just be patient, LC already stated they would. You would have to prove they will not give proof. Right now they get the benefit of the doubt and we'll see if they are keep their word some time in the next 7 days. In the meantime its pointless saying they will not prove they are hashing without giving some evidence. They will prove themselves right or wrong.
no, no, see, that's the whole complaint.  Why make a statement WITHOUT evidence?  That's not how you do PR when you are a startup.  You make a claim, and at the time of making the claim, you back it up with evidence.  The time to post evidence was on Sep 10, which was the self-imposed deadline for starting hashing. It would have been really simple to just join a pool, you know.  Or do any number of other things to back up their statements at the time of announcement.

Making an announcement without evidence hurts their credibility, and that's why the share price is dropping.  Their word is worth nothing, because it has never been shown to be valid.

Why should anyone give them the benefit of the doubt?  "hey guys, I just brought 50 TH/s online, give me money!"  That statement sounds ridiculous, but that's exactly what they have done.  People gave BFL and Pirate40 the benefit of the doubt, and look where they are.  It's ridiculous to demand trust without providing something to go on.

More questions:
Why hasn't the share locking issue been addressed?
When will the block stamping start?
Why not mine in a pool?

Don't expect the share price to gain much until we see real evidence.  Announcements are not cutting it anymore, they need to post something real.  People are jumping ship, and if this continues, we'll likely see sub .0035 within 24 hours.


+1000
boyohi
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September 10, 2013, 04:00:07 PM
 #6637

Proof will come just be patient, LC already stated they would. You would have to prove they will not give proof. Right now they get the benefit of the doubt and we'll see if they are keep their word some time in the next 7 days. In the meantime its pointless saying they will not prove they are hashing without giving some evidence. They will prove themselves right or wrong.

I hope and wish you are correct, but as long as we are honest about what is going on then maybe others might be careful about how much they have tied up.

The reason I am a bit nervous about all this is because I basically grew up as a street kid and learned the hard way to spot situations that would have given me disadvantages. Call it 'street smarts' or whatever. But I am telling you in all honesty that all my alarm bells are going off with all the weirdness and unfulfilled promises going on.

Take it for what you will, but I am not saying this to troll or anything like that. I like to think of myself as a moral person that´s just being sincere about my opinion. Smiley
[/quote]

I take back what I say about people ignoring you. Its hard for me to remember who is troll or not because I don't have anyone on my ignore list. Everyone is entitled to their opinion.
aquarius
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September 10, 2013, 04:00:42 PM
 #6638

The burden of proof is on you if you want to call it a scam. I think most people have you ignored. So I'm just going to clean up the quote a little so they don't have to read you.

That's ridiculous.  The burden of proof is squarely on the shoulders of Labcoin to back their statements and address the numerous issues that shareholders feel are important.  They are the ones making claims, here.  Claims like "we're hashing" should be accompanied by evidence (stamped blocks and/or pool mining).

Proof will come just be patient, LC already stated they would. You would have to prove they will not give proof. Right now they get the benefit of the doubt and we'll see if they are keep their word some time in the next 7 days. In the meantime its pointless saying they will not prove they are hashing without giving some evidence. They will prove themselves right or wrong.

I hope and wish you are correct, but as long as we are honest about what is going on then maybe others might be careful about how much they have tied up.

The reason I am a bit nervous about all this is because I basically grew up as a street kid and learned the hard way to spot situations that would have given me disadvantages. Call it 'street smarts' or whatever. But I am telling you in all honesty that all my alarm bells are going off with all the weirdness and unfulfilled promises going on.

Take it for what you will, but I am not saying this to troll or anything like that. I like to think of myself as a moral person that´s just being sincere about my opinion. Smiley

What unfulfilled promises? They are fullfilling everything and have always kept their word about posting pics after announcements ect.

I do not wish to be mean but you sound delusional and naive at best.

ALL we have are just that. PROMISES! It does not mean shit until there is PROOF.

The definition of a con-man, for example, is one that never shows any proof of what he promises or claims. And always wants you to TRUST his word.

I cannot believe I have to tell people this.

I hope this is legit. But I will not risk being left standing.

I will not comment any more.

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September 10, 2013, 04:06:36 PM
 #6639

no, no, see, that's the whole complaint.  Why make a statement WITHOUT evidence?  That's not how you do PR when you are a startup.  You make a claim, and at the time of making the claim, you back it up with evidence.  The time to post evidence was on Sep 10, which was the self-imposed deadline for starting hashing. It would have been really simple to just join a pool, you know.  Or do any number of other things to back up their statements at the time of announcement.

Making an announcement without evidence hurts their credibility, and that's why the share price is dropping.  Their word is worth nothing, because it has never been shown to be valid.

Why should anyone give them the benefit of the doubt?  "hey guys, I just brought 50 TH/s online, give me money!"  That statement sounds ridiculous, but that's exactly what they have done.  People gave BFL and Pirate40 the benefit of the doubt, and look where they are.  It's ridiculous to demand trust without providing something to go on.

More questions:
Why hasn't the share locking issue been addressed?
When will the block stamping start?
Why not mine in a pool?

Don't expect the share price to gain much until we see real evidence.  Announcements are not cutting it anymore, they need to post something real.  People are jumping ship, and if this continues, we'll likely see sub .0035 within 24 hours.


I'm not so worried about the share prices, we'll know by next week. I do agree with you about their PR, it could be much much better.
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September 10, 2013, 04:11:17 PM
 #6640

I do agree with you about their PR, it could be much much better.

A problem that seems to plague every single thing involving bitcoin mining  Undecided
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