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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1041679 times)
limbaugh
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September 13, 2013, 01:00:07 AM
 #7881

I watched People call Kens entire operation a scam for 100's of pages, completely f**king stupid to base your credibility over a couple pictures, like seriously your going to decided wether to invest in a company over their Pictures! Wow. And as for the mining, they just got the friggin chips and are setting things up aka working out the bugs. Theres a few people trying to do the work of a entire corporation obviously no one can comprehend how time consuming it is to start something like this, let alone respond to a million people asking for pictures.

Pictures? You really should stop while you are ahead.
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Ytterbium
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September 13, 2013, 01:02:37 AM
 #7882

Because it's very interesting to see how long they can drag this thing out until the last idiot jumps ship.
Also, following this thread and the delusions of greed is more entertaining than any movie I could watch or game I could play. It's hilarious.
I'm actually going to be sad when this is over.

Instead of being angry about the people here who are convinced that this is a scam, maybe you should open your eyes and start to actually wonder on why there are so many people here who are convinced this is a scam.

The reason it's a scam is the same reason BFL is a scam. It's not an outright 'we-take-your-money-and-ship-you-a-box-of-rocks' scam, but it may as well be. Labcoin are in way over their head from the looks of it. Is there any evidence to support a contrary view? No, there isn't. Not at this point, anyway.

If they are having technical problems, they are only a few days late.  That's hardly BFL-level incompetence. Lots of real world companies suffer delays.

If the company just came out and said "hey, we're having issues. We were able to test our chips but we have some software issues to debug before we can mine on a pool" I think people would be less upset.  Yes, there would be people calling it a scam, but not to this extent.

BitThink
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September 13, 2013, 01:04:58 AM
 #7883

btw, I have never owned ActM shares (or anything else related to that company).  I did own more than 50K Labcoin shares, but jumped ship when shit started getting hard to believe (right around ~.0038) around here.

Kinda wish I'd done that so I could buy back in at 0.0029. Grin

I don't think Labcoin is a scam, but I would guess they are having some kind of technical difficulties.  It's possible they don't have drivers for CGMiner and can't do pooled mining yet. Whatever software they are using obviously still needs work if it can't mark blocks yet.  Of course, none of that would explain why they can't take pictures of their boards.  In any event if they are having problems they need to be straight with us. They didn't directly mention the fact that their chips only ran at 2Gh/s instead of 4.8 like they originally planned.

If they're not willing to directly and forthrightly tell us when things do go wrong it's a huge problem, IMO. There's no reason not to tell us since they don't have much exposure to the share price anyway.

A delay caused by technical problems will obviously trigger scam accusations, but as you can see that's nothing compared to what we have no with claims of hashing without any verification at all.

Anyway, I was looking through the blockchain again and I found this interesting block: 257612.  The reward went to 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C which had never seen coins before and the transaction doesn't seem to have any signing information (Just says "L�R2C� � %")

So, this could be an interesting potential candidate address.

Completely agree with you.

Just about the block. What does the Relay IP mean? It is in Chicago.
moneymanagment
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September 13, 2013, 01:05:10 AM
 #7884

Could sell now for 3x what I bought at, literally watching the price go up sense this after noon, why/how am I making a bad decision. So I should sell as the price goes up? .001 to .0028 low that a tremendous gain even at its low. Are you slow?
BitCsByBit
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September 13, 2013, 01:05:46 AM
 #7885

Will someone please create a "The Fudidot's of Labcoin" section, so these guys can circle jerk each other like they do on this forum all day and night.

There is the LABCOIN Speculation Thread which no one bothers using.

https://bitcointalk.org/index.php?topic=265388.0

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limbaugh
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September 13, 2013, 01:08:32 AM
 #7886

Mindless fanboys prefer to blame the issues on "fudsters" and ignore any fact that might show they made a bad decision.

In cases like this, fanboys are the people stuck at a high price. But Labcoin price is holding and the opportunity to get out still exists. It won't last long..
moneymanagment
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September 13, 2013, 01:10:51 AM
 #7887

Mindless fanboys prefer to blame the issues on "fudsters" and ignore any fact that might show they made a bad decision.

In cases like this, fanboys are the people stuck at a high price. But Labcoin price is holding and the opportunity to get out still exists. It won't last long..
YOU KEEP SAYING THAT. NO ONE CARES!
moneymanagment
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September 13, 2013, 01:13:31 AM
 #7888

Could sell now for 3x what I bought at, literally watching the price go up sense this after noon, why/how am I making a bad decision. So I should sell as the price goes up? .001 to .0028 low that a tremendous gain even at its low. Are you slow?
You are so insecure it's painful to read.
And you do not understand, unless you're one of the firsts, you won't be able to sell at "3x". Bids won't be here forever. Having shares estimated at a certain price doesn't mean you will be able to sell them.
NO ONE CARES! THATS CALLED RISK! you dont get profit without it
BitThink
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September 13, 2013, 01:16:33 AM
 #7889

Because it's very interesting to see how long they can drag this thing out until the last idiot jumps ship.
Also, following this thread and the delusions of greed is more entertaining than any movie I could watch or game I could play. It's hilarious.
I'm actually going to be sad when this is over.

Instead of being angry about the people here who are convinced that this is a scam, maybe you should open your eyes and start to actually wonder on why there are so many people here who are convinced this is a scam.

The reason it's a scam is the same reason BFL is a scam. It's not an outright 'we-take-your-money-and-ship-you-a-box-of-rocks' scam, but it may as well be. Labcoin are in way over their head from the looks of it. Is there any evidence to support a contrary view? No, there isn't. Not at this point, anyway.

If they are having technical problems, they are only a few days late.  That's hardly BFL-level incompetence. Lots of real world companies suffer delays.

If the company just came out and said "hey, we're having issues. We were able to test our chips but we have some software issues to debug before we can mine on a pool" I think people would be less upset.  Yes, there would be people calling it a scam, but not to this extent.

Yes, exactly.

Somehow I feel that labcoin just manage to avoid giving people too much confidence about them.  The are very reluctant to show photos. The only time they show photo, it's just a single one with only two chips. But meanwhile, they often give out a precise deadline which is not so common considering all the variables. For example, 'no later than 10 Sep'. It's really weird at least to me.
chriswilmer
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September 13, 2013, 01:17:45 AM
 #7890

They were supposed to have pictures of the miners and the hashing setup prior to full hashing started. That means today or noday because tomorrow is the 10th, the day things are supposed to be on full go.

I just quoted some random statement from this thread on page 300... 300!! Do you guys realize that the 300th page of posts in the Labcoin thread contains conversations from three days ago?! The last 100 pages of posts, almost completely devoid of content, were all in the space of 72 hours? That's nuts. Take a deep breath, wait a day or two, and then see how you feel about Labcoin before posting!
limbaugh
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September 13, 2013, 01:17:52 AM
 #7891

Could sell now for 3x what I bought at, literally watching the price go up sense this after noon, why/how am I making a bad decision. So I should sell as the price goes up? .001 to .0028 low that a tremendous gain even at its low. Are you slow?
You are so insecure it's painful to read.
And you do not understand, unless you're one of the firsts, you won't be able to sell at "3x". Bids won't be here forever. Having shares estimated at a certain price doesn't mean you will be able to sell them.
NO ONE CARES! THATS CALLED RISK! you dont get profit without it

If you prefer to RISK your money on incompetence and deceit be my guest. Those of us that have actually followed the current events know better - no need to rage.
physalis
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September 13, 2013, 01:17:59 AM
 #7892

NO ONE CARES! THATS CALLED RISK! you dont get profit without it
Dude you seem to care sooo hard though...
Ytterbium
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September 13, 2013, 01:18:58 AM
 #7893

btw, I have never owned ActM shares (or anything else related to that company).  I did own more than 50K Labcoin shares, but jumped ship when shit started getting hard to believe (right around ~.0038) around here.

Kinda wish I'd done that so I could buy back in at 0.0029. Grin

I don't think Labcoin is a scam, but I would guess they are having some kind of technical difficulties.  It's possible they don't have drivers for CGMiner and can't do pooled mining yet. Whatever software they are using obviously still needs work if it can't mark blocks yet.  Of course, none of that would explain why they can't take pictures of their boards.  In any event if they are having problems they need to be straight with us. They didn't directly mention the fact that their chips only ran at 2Gh/s instead of 4.8 like they originally planned.

If they're not willing to directly and forthrightly tell us when things do go wrong it's a huge problem, IMO. There's no reason not to tell us since they don't have much exposure to the share price anyway.

A delay caused by technical problems will obviously trigger scam accusations, but as you can see that's nothing compared to what we have no with claims of hashing without any verification at all.

Anyway, I was looking through the blockchain again and I found this interesting block: 257612.  The reward went to 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C which had never seen coins before and the transaction doesn't seem to have any signing information (Just says "L�R2C� � %")

So, this could be an interesting potential candidate address.

Completely agree with you.

Just about the block. What does the Relay IP mean? It is in Chicago.

It doesn't mean anything.  It resolves to cybernet.phil21.net which is running a webserver but returns a 403 on '/'  phil21.net seems to be a personal home page of some perl hacker. It's likely just a relay node.

moneymanagment
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September 13, 2013, 01:20:24 AM
 #7894

Mindless fanboys prefer to blame the issues on "fudsters" and ignore any fact that might show they made a bad decision.

In cases like this, fanboys are the people stuck at a high price. But Labcoin price is holding and the opportunity to get out still exists. It won't last long..
I always hated fanboys and it's one of the reasons I'm here mocking them (they are even worse in InactiveMining). I'm not even sure it's the price. They could get out quietly. A lot of them claim to have bought at IPO price. They just don't want to admit the thing they put a lot of hope into isn't going "to the moon".

So you come here just to "mock people" over LC, wow, this is such a cool hobby you have. If anyone believes these dumb asses then they themselves are following the lead of a small group of insecure losers, who literally cannt comprehend anything that is more complex then a elementary drawing, hence the reason they post them (over and over again), and constantly ask for them.
wickedgoodtrader
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September 13, 2013, 01:21:58 AM
 #7895

Funny to see sooooo many more people now realizing what I knew and wrote about a long time ago.

Quit fucking searching for blocks and speculating if labcoin mined them. Labcoin couldn't mine a pile of shit if you put it on their porch.
BitCsByBit
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September 13, 2013, 01:23:44 AM
 #7896

This thread is getting ridiculous.

So many concerned people that apparently have no interest in Labcoin but they are spending all day advising others not to invest because it is a scam.

If you are so concerned about how others invest their money, please state your opinion and that's fine, but going on and on and you look like you have an agenda!

Why would someone with no interest in this company be so concerned?

Everyone should do their own risk assessment and invest accordingly.

If you want to speculate on this security, please go to:
https://bitcointalk.org/index.php?topic=265388.0

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
moneymanagment
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September 13, 2013, 01:24:23 AM
 #7897

Could sell now for 3x what I bought at, literally watching the price go up sense this after noon, why/how am I making a bad decision. So I should sell as the price goes up? .001 to .0028 low that a tremendous gain even at its low. Are you slow?
You are so insecure it's painful to read.
And you do not understand, unless you're one of the firsts, you won't be able to sell at "3x". Bids won't be here forever. Having shares estimated at a certain price doesn't mean you will be able to sell them.
NO ONE CARES! THATS CALLED RISK! you dont get profit without it

If you prefer to RISK your money on incompetence and deceit be my guest. Those of us that have actually followed the current events know better - no need to rage.
Sorry for my anger, your reoccurring stupidity always bothered me, as Ive been reading sense this forum started. It still amazes me as to why you post here, and who the f**k listens to you, other than your dumb as dirt buddies.
limbaugh
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September 13, 2013, 01:25:53 AM
 #7898



Woot, look like we have a sell off brewing!
JohnyBigs
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September 13, 2013, 01:26:28 AM
 #7899

This thread is getting ridiculous.

So many concerned people that apparently have no interest in Labcoin but they are spending all day advising others not to invest because it is a scam.

If you are so concerned about how others invest their money, please state your opinion and that's fine, but going on and on and you look like you have an agenda!

Why would someone with no interest in this company be so concerned?

Everyone should do their own risk assessment and invest accordingly.

If you want to speculate on this security, please go to:
https://bitcointalk.org/index.php?topic=265388.0

Because they do have an interest in manipulating the price lower so they can buy.
moneymanagment
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September 13, 2013, 01:26:57 AM
 #7900

This thread is getting ridiculous.

So many concerned people that apparently have no interest in Labcoin but they are spending all day advising others not to invest because it is a scam.

If you are so concerned about how others invest their money, please state your opinion and that's fine, but going on and on and you look like you have an agenda!

Why would someone with no interest in this company be so concerned?

Everyone should do their own risk assessment and invest accordingly.

If you want to speculate on this security, please go to:
https://bitcointalk.org/index.php?topic=265388.0

Finally some sense, Thank you for explaining to them in a simplistic manner, their easy to confuse.
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