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Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1041928 times)
aquarius
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September 12, 2013, 04:20:56 AM
 #7321

Guys if you are competent and you realize that you might miss a promised deadline you log in a couple of hours before and make sure to tell investors that you are the most sorry person in the world. and you then stay in the thread conversing with worried people making them at least feel better.

This is just horrible.
Exactly, only liars would not do this.

yeah, what´s frustrating is that I have actually dealt with con-artists that have more respect than these guys.
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velacreations
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September 12, 2013, 04:22:44 AM
 #7322

Burnside has already confirmed that the vast majority of Labcoin shares are owned by an account he knows to be controlled by Labcoin.

Burnside only confirmed that they have moved only 15% of those shares.  They can still move 10% and appear to be legit.  Selling 10% of those share right now would literally crash the market price.

Wouldn't you think that if it were a scam, the Labcoin account would try and get as much for those shares before they completely crashed?
unless they think they are getting away with it and can push the price higher with loose deadlines and no evidence


you are assuming that the only options are scam/no scam.  There is a 3rd and very likely option of "completely incompetent/hardware doesn't work"

Vigil
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September 12, 2013, 04:22:58 AM
 #7323

Quote
IC preview Posted: 14 days ago

IC preview released :

https://bitcointalk.org/index.php?topic=263445.msg3034290#msg3034290

QFP packaging, 44 pin, no exposed heat pad

More pictures coming soon

 

More pictures coming "soon" - 14 days ago. This turns the concept of "soon" on its head. How hard is it to take a photo of the full tape reel? How hard is it to take photos of their boards and assembly. We should have all kinds of pictures at this point. Nothing.

Another BS.

We have documented at least 4 or 5 clear and obvious cases of outright lies.
aquarius
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September 12, 2013, 04:23:22 AM
 #7324

Guys if you are competent and you realize that you might miss a promised deadline you log in a couple of hours before and make sure to tell investors that you are the most sorry person in the world. and you then stay in the thread conversing with worried people making them at least feel better.

This is just horrible.
Exactly, only liars would not do this.

Yes stay in the thread all day along, and not build your business. If they bothered to do that, they would stay here all day long with the morons on here lmao, then I would be scared. Most of the scammers had one thing in common, they stayed in the thread all day long, because they had the time too, since they weren't building anything.

correct me if I´m wrong but TheSwede is not in the development or assembly team at all. he´s the sidekick (semi PR) guy right? (that´s just getting updates from 'Sam')
damiano
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September 12, 2013, 04:23:27 AM
 #7325

Well, people are reacting. If I'm not mistaken, just shy of 100k shares have left the bid side in the past hour or so.

I looked at this earlier today around lunch and it was around 950k

Now it's almost 1,050,000 .  The sell orders have increased by about 100k to but  almost all of it looks to be above .0045

Regardless the order book is strong and if this somehow dips below .003 it
won't be under for more than a few minutes.
MikeyVeez
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September 12, 2013, 04:25:02 AM
 #7326

Guys if you are competent and you realize that you might miss a promised deadline you log in a couple of hours before and make sure to tell investors that you are the most sorry person in the world. and you then stay in the thread conversing with worried people making them at least feel better.

This is just horrible.
Exactly, only liars would not do this.

Yes stay in the thread all day along, and not build your business. If they bothered to do that, they would stay here all day long with the morons on here lmao, then I would be scared. Most of the scammers had one thing in common, they stayed in the thread all day long, because they had the time too, since they weren't building anything.

correct me if I´m wrong but TheSwede is not in the development or assembly team at all. he´s the sidekick (semi PR) guy right? (that´s just getting updates from 'Sam')

correct
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September 12, 2013, 04:25:41 AM
 #7327

If this was a scam they would have just bought 2Th/s worth of bitfury chips and gotten a nice graph on Eligus to boost the share price.

But, if they are having issues coordinating information releases, it certainly seems plausible that they might be having trouble coordinating getting everything setup properly.

Has labcoin, you know hired anyone yet? that's typically how companies work.  You hire someone, and pay them a salary, and their job is to do the thing you want them to do, full time. That could be coordinating PR, or it could be Assembling miners.

Anyway, they need to take shareholder relations more seriously.

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September 12, 2013, 04:26:00 AM
 #7328

As of now, 146k share to drop below 0.003.
Vigil
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September 12, 2013, 04:26:29 AM
 #7329

Guys if you are competent and you realize that you might miss a promised deadline you log in a couple of hours before and make sure to tell investors that you are the most sorry person in the world. and you then stay in the thread conversing with worried people making them at least feel better.

This is just horrible.
Exactly, only liars would not do this.

Yes stay in the thread all day along, and not build your business. If they bothered to do that, they would stay here all day long with the morons on here lmao, then I would be scared. Most of the scammers had one thing in common, they stayed in the thread all day long, because they had the time too, since they weren't building anything.
All they have to do is set aside 30 minutes at a scheduled time. This is not that big of a deal. You act like these guys are chained-up in a sweatshop and don't move day or night working on "growing their business". They don't stop to eat, check some emails, fuck, whatever? One of them can take a few minutes to post some images and answer a few questions.
HuLaN
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September 12, 2013, 04:26:36 AM
 #7330

I want all of you to consider this:

Burnside has already confirmed that the vast majority of Labcoin shares are owned by an account he knows to be controlled by Labcoin.

If Labcoin were a scam, then the people involved would already know this, and of course would be monitoring the share price pretty closely.

As far as I understand, Burnside hasn't 'officially' locked those shares, and yet there has been no massive selloff from that account. Wouldn't you think that if it were a scam, the Labcoin account would try and get as much for those shares before they completely crashed?

But this hasn't happened.

Yes, many people here are concerned that an official response has not appeared to quell the FUD. If Labcoin were a scam, I would expect terror-filled scammers to be filling this thread with warm reassurances to prop up the price of the shares until they could squeeze out as much as they could.

Yet this hasn't happened. Why? They know it isn't a scam, and their future profits rest on the hero's portion of the dividends they will be receiving, not the price of the stock to sell off.

This is why I take their relative silence as a comforting sign. I would be far more concerned if they magically appeared at Limbaugh's sardonic tirade to attempt a 'feel good' PR response.

But please understand, I am a bear of very little brain, and long words bother me.

No, Labcoin was most likely not setup only to scam people for IPO coins and/or speculation on the stock after IPO. That doesn't change the fact one bit about the concerns that people are voicing in this thread about them seemingly not having any clue on what they are doing or being able to show anything to back up their claims. The only logical explanation to this behaviour in my mind is:

A) they are behind schedule
B) the chips are heavily under performing or not working
C) they are stalling investors in order to make up/fix A) and B)

also them saying that they want to start focus on 65nm chips before they've posted any proof that they have first gen working?  Roll Eyes
MikeyVeez
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September 12, 2013, 04:28:18 AM
 #7331

If this was a scam they would have just bought 2Th/s worth of bitfury chips and gotten a nice graph on Eligus to boost the share price.

But, if they are having issues coordinating information releases, it certainly seems plausible that they might be having trouble coordinating getting everything setup properly.

Has labcoin, you know hired anyone yet? that's typically how companies work.  You hire someone, and pay them a salary, and their job is to do the thing you want them to do, full time. That could be coordinating PR, or it could be Assembling miners.

Anyway, they need to take shareholder relations more seriously.

^^ with the money the raised they could of easily scammed, and made the scam amazing. Buy some used avalons, throw up 2TH onto a pool, and scam away. But they are trying to scam by making the share price lower so they can get less money lmao.

The lack of logical brain power here is funny, mal nutritioned 3rd world country brains, can't think logically.
hobbymd
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September 12, 2013, 04:28:43 AM
 #7332

As of now, 146k share to drop below 0.003.

completely off topic, but how do you get those number? are you using trading software? Cool
velacreations
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September 12, 2013, 04:28:51 AM
 #7333

Well, people are reacting. If I'm not mistaken, just shy of 100k shares have left the bid side in the past hour or so.

we had 125K in an hour yesterday, I think we'll double that today.  

And forget about a fake/weak recovery later, this one is headed down.  As soon as the US wakes in the morning, people will be cashing out.

I looked at this earlier today around lunch and it was around 950k

Now it's almost 1,050,000 .  The sell orders have increased by about 100k to but  almost all of it looks to be above .0045

Regardless the order book is strong and if this somehow dips below .003 it
won't be under for more than a few minutes.
you are seriously calling that a strong order book?  There's less than 150K shares keeping this thing above .003.  We went through 125K yesterday IN AN HOUR.

velacreations
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September 12, 2013, 04:29:37 AM
 #7334

As of now, 146k share to drop below 0.003.

completely off topic, but how do you get those number? are you using trading software? Cool

on BTCT, just hover over the order you want, and it will give a tooltip with the number of shares/btc above that order

Ytterbium
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September 12, 2013, 04:30:18 AM
 #7335

Guys if you are competent and you realize that you might miss a promised deadline you log in a couple of hours before and make sure to tell investors that you are the most sorry person in the world. and you then stay in the thread conversing with worried people making them at least feel better.

This is just horrible.
Exactly, only liars would not do this.

They could be liars.  They could also just be lazy.

velacreations
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September 12, 2013, 04:31:21 AM
 #7336

Guys if you are competent and you realize that you might miss a promised deadline you log in a couple of hours before and make sure to tell investors that you are the most sorry person in the world. and you then stay in the thread conversing with worried people making them at least feel better.

This is just horrible.
Exactly, only liars would not do this.

They could be liars.  They could also just be lazy.

or completely incompetent

hobbymd
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September 12, 2013, 04:31:58 AM
 #7337

As of now, 146k share to drop below 0.003.

completely off topic, but how do you get those number? are you using trading software? Cool

on BTCT, just hover over the order you want, and it will give a tooltip with the number of shares/btc above that order

oh  Grin  thx
Vigil
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September 12, 2013, 04:32:54 AM
 #7338

I want all of you to consider this:

Burnside has already confirmed that the vast majority of Labcoin shares are owned by an account he knows to be controlled by Labcoin.

If Labcoin were a scam, then the people involved would already know this, and of course would be monitoring the share price pretty closely.

As far as I understand, Burnside hasn't 'officially' locked those shares, and yet there has been no massive selloff from that account. Wouldn't you think that if it were a scam, the Labcoin account would try and get as much for those shares before they completely crashed?

But this hasn't happened.

Yes, many people here are concerned that an official response has not appeared to quell the FUD. If Labcoin were a scam, I would expect terror-filled scammers to be filling this thread with warm reassurances to prop up the price of the shares until they could squeeze out as much as they could.

Yet this hasn't happened. Why? They know it isn't a scam, and their future profits rest on the hero's portion of the dividends they will be receiving, not the price of the stock to sell off.

This is why I take their relative silence as a comforting sign. I would be far more concerned if they magically appeared at Limbaugh's sardonic tirade to attempt a 'feel good' PR response.

But please understand, I am a bear of very little brain, and long words bother me.

No, Labcoin was most likely not setup only to scam people for IPO coins and/or speculation on the stock after IPO. That doesn't change the fact one bit about the concerns that people are voicing in this thread about them seemingly not having any clue on what they are doing or being able to show anything to back up their claims. The only logical explanation to this behaviour in my mind is:

A) they are behind schedule
B) the chips are heavily under performing or not working
C) they are stalling investors in order to make up/fix A) and B)

also them saying that they want to start focus on 65nm chips before they've posted any proof that they have first gen working?  Roll Eyes

This sounds exactly like TerraHash and Avalon. If anyone is not familiar with those incidents, head over to the thread and read up. TH has yet to prove they have a K64 working and claimed they would have been ready to have all units delivered by Aug. 15 (this was back before we knew the avalons would be late). But they still don't have them working. TerraHash is now advertising their new plan and Avalon started distracting people with their gen 2 chip when people hadn't even received their gen 1 chips and ASICs yet. They are always trying to divert attention to the next phase when the first phase isn't going right.

It makes no sense how so much can be going wrong with all these ASIC companies.  They all seem to operate exactly the same - like ASS. Same excuses, same issues, same gameplaying and broken promises. Is there a book on this shit somewhere?
KCBitcoin
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September 12, 2013, 04:41:15 AM
 #7339

As of now, 146k share to drop below 0.003.

completely off topic, but how do you get those number? are you using trading software? Cool
This is easily viewable by putting your cursor on the row of 0.003.
 
drawingthesun
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September 12, 2013, 04:43:46 AM
 #7340

It makes no sense how so much can be going wrong with all these ASIC companies.  They all seem to operate exactly the same - like ASS. Same excuses, same issues, same gameplaying and broken promises. Is there a book on this shit somewhere?

I get the feeling its a symptom of having to rely on foundries (third parties) and promising deadlines that cannot be kept.

The issue here is that the foundries know their customers in general have to be fast to market, its how you stay competitive. However I doubt these foundries have ever had customers that have a situation that each 2 week period reduces their chips effectiveness by 30%

Think about it, the foundry companies are not used to this 2 months and your chips are 10% as effective or less situation.

The ASIC companies however need to set good deadlines for the IPO otherwise they would not get the funding.

This is the issue, the ASIC companies and foundries exist in different worlds.

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