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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
BitThink
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September 13, 2013, 11:51:16 AM
 #7981

I agree most of your opinions. But the things really annoy me are: 1 they said they've already mining 3 days ago without mention any difficulty. 2. Nothing prevent them from posting a photo of installment they promised long ago. These are the main reason caused the price fluctuation, not the FUDs all over this thread.
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abuelau
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September 13, 2013, 12:19:38 PM
 #7982

I agree most of your opinions. But the things really annoy me are: 1 they said they've already mining 3 days ago without mention any difficulty. 2. Nothing prevent them from posting a photo of installment they promised long ago. These are the main reason caused the price fluctuation, not the FUDs all over this thread.

Yeah, well I take your point it's annoying. But what I think is really happening is this: they were eager to start hashing. So they assembled a test PCB and started hashing with around 2TH/s and realized that there's still work to do to stabilize it. Perhaps their software doesn't allow joining a pool, perhaps there are some issues with the PCB, perhaps a few chips overheated... who knows.

What I know is that things very rarely work the first time, and what we can hope is that any issues are minor ones that can easily be fixed.

This is why they didn't want to post pictures before they stabilize the situation. And honestly, if they manage to do it in just a few days, it's really not bad, they must be working their assess off, not even sleeping in some nights. I've been there in other projects, I know how it feels like getting close to the deadline and some odd thing not working the way it's supposed to.

They said they will update tonight. Let's wait and see what they are going to say. But delays like these are pretty normal in big projects, even for the biggest companies that have years of experience.

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September 13, 2013, 12:37:36 PM
 #7983



Timer removed. End time: 2013-09-14+01:00:00UTC

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physalis
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September 13, 2013, 12:55:41 PM
 #7984

This is not a scam. Everything is normal. Big companies do this all the time.



Ignore occam's razor. It's an evil tool used only by FUDsters.

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September 13, 2013, 01:04:45 PM
 #7985

Let me guess. The update is going to be: "Here are 3 pictures" and that's all. Now -> end of Octobre = no mining address = people contesting photos = FUD

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September 13, 2013, 01:12:23 PM
 #7986

Let me guess. The update is going to be: "Here are 3 pictures" and that's all. Now -> end of Octobre = no mining address = people contesting photos = FUD

Words alone destroy the stock.

Pictures alone harm it.

There's is ZERO reason not to provide an address. None. This is something they have to do.


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September 13, 2013, 01:15:14 PM
 #7987

Let me guess. The update is going to be: "Here are 3 pictures" and that's all. Now -> end of Octobre = no mining address = people contesting photos = FUD

Words alone destroy the stock.

Pictures alone harm it.

There's is ZERO reason not to provide an address. None. This is something they have to do.




So, what do you think they will provide ?
1) nothing
2) words
3) pictures
4) address
5) 2+3
6) 2+4
7) 2+3+4

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Bitcycle
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September 13, 2013, 01:17:52 PM
 #7988

Let me guess. The update is going to be: "Here are 3 pictures" and that's all. Now -> end of Octobre = no mining address = people contesting photos = FUD

Words alone destroy the stock.

Pictures alone harm it.

There's is ZERO reason not to provide an address. None. This is something they have to do.




So, what do you think they will provide ?
1) nothing
2) words
3) pictures
4) address
5) 2+3
6) 2+4
7) 2+3+4



I think they're probably planning on words + pictures.

That won't do it, though.

They've got to provide an address. 
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September 13, 2013, 01:19:10 PM
 #7989


I'm assuming they have the good sense to only be updating with good news - ie they really are hashing.

If they're going to backtrack and say they aren't, they should have just kept their mouth shut since most the damage had already been done and the price had stabilized.
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September 13, 2013, 01:23:43 PM
 #7990

Poll: https://bitcointalk.org/index.php?topic=293588.0

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September 13, 2013, 01:31:19 PM
 #7991


I'm assuming they have the good sense to only be updating with good news - ie they really are hashing.

If they're going to backtrack and say they aren't, they should have just kept their mouth shut since most the damage had already been done and the price had stabilized.

Well, if they say they are hashing, then they've only started, so they missed several days and lied about things being ok. Credibility is damaged.

If they haven't resolved the issues, then I think it is best to come clean.  Yes, the stock will tank, but they will regain credibility, so when they do get it fixed, some people will reinvest.

I really don't think they have learned how to do PR over night, so I expect them to fumble on this one, too. You know, at that 48 hour deadline, that would have been the perfect time to come clean and save the credibility.

If it's just words, then thing will implode FAST.  Even with just photos, we're gonna see a nosedive.

And I assume they won't even acknowledge the locking of the shares, everyone forgot about that...

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September 13, 2013, 01:33:35 PM
 #7992

For once i agree with vela..

I dont understand why they even set a time limit for themselves, they cut their own fingers if they just give words again..
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September 13, 2013, 01:40:49 PM
 #7993

What Labcoin has promised are PICTURES. He never said anything about providing an address.... so if that's what you are expecting, prepare to be disappointed.

They are hashing solo, it would take a couple of days to find a block. And if they are indeed having to fix some last minute issues, they could well have the miner turned off for most part of the last days, so they may not even have found a block yet, and therefore there is no address to share.

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September 13, 2013, 01:41:55 PM
 #7994

APPL keynote syndrome

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September 13, 2013, 01:47:03 PM
 #7995


Possible reasons for setting an update out by 24 hours-

Hoping they can provide news they have fixed some problem.  Coming clean in retrospect.  Risky to the point of being stupid.

Hoping they have found a block, if they haven't already. Something they can point to as success.  Risky, but odds favor them.

Gathering photos.  Probably a factor in any case.
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September 13, 2013, 01:48:54 PM
 #7996

If you are hashing from many locations aren't you effectively reducing the hash rate? Unless they are pooling all their miners into a Labcoin pool only open to their miners.

Homo doctus is se semper divitias habet
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September 13, 2013, 01:49:16 PM
 #7997

What Labcoin has promised are PICTURES. He never said anything about providing an address.... so if that's what you are expecting, prepare to be disappointed.

They are hashing solo, it would take a couple of days to find a block. And if they are indeed having to fix some last minute issues, they could well have the miner turned off for most part of the last days, so they may not even have found a block yet, and therefore there is no address to share.

The team is scattered on various countries, thus we have to coordinate to release anything. I'll see if i can get a screenshot of the hashing rate or something, but more pictures will be posted in the next few days, we will deploy the same mechanism ASICMINER uses for signing found blocks and publish them on our website.

Has one of my posts enriched your life? Has it made you feel warm and fuzzy?Tips here! 1KhmwZTDqNDKxm2Fnj9QgnfHgP6g7paqtc
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September 13, 2013, 01:50:34 PM
 #7998


Regardless of how good the news is, I think we all know the price will top out just under 0.004.

 Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin
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September 13, 2013, 01:50:50 PM
 #7999

We do not have 10 TH of chips out of nowhere, we said that we will setup block labeling as soon as we reach that speed, which could be on the first days of october, so in "about" two weeks, or mid october. We will outsource deployment and assembly for the next batch of chips so that we will proceed at a much faster pace in the future.

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September 13, 2013, 01:53:42 PM
 #8000


Regardless of how good the news is, I think we all know the price will top out just under 0.004.

 Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin Grin

This is 821 BTC to be bought. Same amount to be sold means share price @ 0.002264

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