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

[ShroomsKit]

How can they so not give a shit?

[1713521298]

1713521298

[1713521298]

1713521298

[Ytterbium]

Sad really, the chance to get out above .003 is dwindling. Way to stab your supporters in the back Labcoin.

As long as Labcoin isn't a total scam their price should go back up as soon as they start verifiably mining.

All they would need to do to fix the share price is start mining on a pool where they can show their hashrate.

[limbaugh]

Sad really, the chance to get out above .003 is dwindling. Way to stab your supporters in the back Labcoin.

As long as Labcoin isn't a total scam they price should go back up as soon as they start verifiably mining.

All they would need to do to fix the share price is start mining on a pool where they can show their hashrate.

I agree, Labcoin could put an end to this downward spiral but they choose not to. I still am holding a stake albeit a much smaller one now.

[kokojie]

lol I can't believe people still buying this. Solo mine with 2TH, why? because mining on a pool would leave them with no excuse to not publicly display their non-existent hashing stats.

oh and, of course, zero block found so far solo mining with their non-existent hashing hardware. LOL

[Ytterbium]

Finding a block with 2Th within 48h is pretty optimistic.

2Th/s is 465 Diff1 shares a second.

The difficulty is 86,933,018, so it should take 86933018/465 seconds, or 51 hours to find a block, on average.

[aquarius]

lol I can't believe people still buying this. Solo mine with 2TH, why? because mining on a pool would leave them with no excuse to not publicly display their non-existent hashing stats.

oh and, of course, zero block found so far solo mining with their non-existent hashing hardware. LOL

+1

[chenchunyu88]

Maybe we get better luck. Find one in 1 day.

Just be optimistic and the share price then goes up.

Finding a block with 2Th within 48h is pretty optimistic.

2Th/s is 465 Diff1 shares a second.

The difficulty is 86,933,018, so it should take 86933018/465 seconds, or 51 hours to find a block, on average.

[dexX7]

Involving Sparmann in their project proves that labcoin management *IS* capable of making a good decision at least part of the time. At least it works for me.

Labcoin The Seven
August 8, 2013 By bcoinnews Leave a Comment
IRC conversation with [7] from FPGAmining
<jborkl>You are TheSeven from Fpgamining correct?
<[7]> yes
<jborkl> i.e.(Labcoin) they are actually developing something?
<[7]> I can’t really comment on that because I wasn’t involved in the development of them besides giving them some general hints what can be optimized etc.
<[7]> i’m mostly involved with the second generation chips
<jborkl> 65nm chips?
<[7]> yes, they are actually developing something, definitely. I just can’t comment on how successful it will be
<jborkl> Thank you. I will ask your permission to post this up.
<[7]> yes, from what i know that second generation will be 65nm, although we could technically still switch to something else at this stage
<jborkl> ok, Thank you for your time.

http://bcoinnews.com/2013/08/08/labcoin-the-seven/

Great finding.

I had the same idea and wrote TheSeven yesterday here on btctalk, but I didn't receive an answer.

(which does not mean much - last time only more than a week ago)

[tucenaber]

Finding a block with 2Th within 48h is pretty optimistic.

2Th/s is 465 Diff1 shares a second.

The difficulty is 86,933,018, so it should take 86933018/465 seconds, or 51 hours to find a block, on average.

The probability of finding zero blocks in 48h is about 40%

[KSGuy]

really... solo mining?

looks like my .004 sale will never be hit  

[Ytterbium]

Finding a block with 2Th within 48h is pretty optimistic.

2Th/s is 465 Diff1 shares a second.

The difficulty is 86,933,018, so it should take 86933018/465 seconds, or 51 hours to find a block, on average.

The probability of finding zero blocks in 48h is about 40%

Yeah, that should be about right.  If you look at the CDF graph on slush's pool  You can see that the expected probability of finding a block with one 'normalized difficulty' share is (i.e. a diff 86933018 share) is 63%, so the probability of not finding a block after 51 hours would be just 37%.

Of course, things can go really badly.  Right now on Slush's pool there's a block that took 14 hours and was found after 679575861 shares were submitted, or 7.81 times the current diff. That would be the equivalent of 16 days for Labcoin. There's also a 5:44 block with 276257472 shares, or 3.1 times the current difficulty.  The equivalent of 6 days for labcoin.

[tucenaber]

Finding a block with 2Th within 48h is pretty optimistic.

2Th/s is 465 Diff1 shares a second.

The difficulty is 86,933,018, so it should take 86933018/465 seconds, or 51 hours to find a block, on average.

The probability of finding zero blocks in 48h is about 40%

How are you calculating that? It should be 50% at 51 hours, but in N 51 hour time periods you should find N blocks (again, on average)

The basic idea is you find one block per D diff one shares, where D = the current difficulty, which right now is 86933018

No. You are assuming that mean=median. That is not the case.

The probability number of blocks in 48 hours is poisson distributed with mean 0.92 = 48*3600*2e12/86933018/2^32. Prob(Zero blocks)=0.37

[Rannasha]

Finding a block with 2Th within 48h is pretty optimistic.

2Th/s is 465 Diff1 shares a second.

The difficulty is 86,933,018, so it should take 86933018/465 seconds, or 51 hours to find a block, on average.

The probability of finding zero blocks in 48h is about 40%

How are you calculating that? It should be 50% at 51 hours, but in N 51 hour time periods you should find N blocks (again, on average)

The basic idea is you find one block per D diff one shares, where D = the current difficulty, which right now is 86933018

Finding blocks is a Poisson process. If the average time per block is 51 hours, then after 51 hours, the probability of finding 1 block is equal to the probability of finding 0: 1 / e, which is approximately 36.8%. The remaining ~26.2% is the probability that more than 1 block is found in 51 hours.

[Ytterbium]

No. You are assuming that mean=median. That is not the case.

The probability number of blocks in 48 hours is poisson distributed with mean 0.92 = 48*3600*2e12/86933018/2^32. Prob(Zero blocks)=0.37

Yeah, already I updated my post .  It's a 37% probability of finding no blocks at 51h.

Finding blocks is a Poisson process. If the average time per block is 51 hours, then after 51 hours, the probability of finding 1 block is equal to the probability of finding 0: 1 / e, which is approximately 36.8%. The remaining ~26.2% is the probability that more than 1 block is found in 51 hours.

I fixed it already guys!

[kingcrimson]

Sad really, the chance to get out above .003 is dwindling. Way to stab your supporters in the back Labcoin.

As long as Labcoin isn't a total scam they price should go back up as soon as they start verifiably mining.

All they would need to do to fix the share price is start mining on a pool where they can show their hashrate.

I agree, Labcoin could put an end to this downward spiral but they choose not to. I still am holding a stake albeit a much smaller one now.

Limbaugh was caught manipulating price yesterday, don't believe a single thing he says.

[Rulother]

Sad really, the chance to get out above .003 is dwindling. Way to stab your supporters in the back Labcoin.

As long as Labcoin isn't a total scam they price should go back up as soon as they start verifiably mining.

All they would need to do to fix the share price is start mining on a pool where they can show their hashrate.

I agree, Labcoin could put an end to this downward spiral but they choose not to. I still am holding a stake albeit a much smaller one now.

Limbaugh was caught manipulating price yesterday, don't believe a single thing he says.

[Duffer1]

you mean someone named LIMBAUGH was lying to me? 

I'M SHOCKED

[limbaugh]

Sad really, the chance to get out above .003 is dwindling. Way to stab your supporters in the back Labcoin.

As long as Labcoin isn't a total scam they price should go back up as soon as they start verifiably mining.

All they would need to do to fix the share price is start mining on a pool where they can show their hashrate.

I agree, Labcoin could put an end to this downward spiral but they choose not to. I still am holding a stake albeit a much smaller one now.

Limbaugh was caught manipulating price yesterday, don't believe a single thing he says.

Nice work Scherlock. Now find the missing blocks, press releases, and lab photos.

[limbaugh]

you mean someone named LIMBAUGH was lying to me? 

I'M SHOCKED

Not shocked just ignorant....

[Pale Phoenix]

you mean someone named LIMBAUGH was lying to me? 

I'M SHOCKED

I LOL'd