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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1057962 times)
Vigil
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September 14, 2013, 05:48:26 AM
 #8901

NOT AN UPDATE, JUST PERSONAL OPINION:

To be brutally honest. I realize that has been delays, and I also realize that communication has not always been what I wish we could provide. BUT, supporting day trading or providing updates at the whim of every single person that owns a share is just not priority.

If you do not believe Labcoin can deliver, or that somehow the team is running the world most advanced long-con ever you are well in your right to sell your shares.

The project is fully funded and I have personally 100% faith that Sam and the developers can and will deliver and though mining has been delayed, every single (even the most pessimistic) calculation I have done makes selling my shares anywhere near current price a bad idea.

I am not saying this to influence share price, but simply because it is getting a little tiring to see people yell and scream completely irrelevant information.

The chips that have been developed perform well within variance of what can be expected, boards have arrive and are arriving as we speak and mining will according to the team be up and running at production speeds within a week or two.

With 100,000+ chips already ordered I see no reason as to why the project would not yield a very healthy profit within the next month.

The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.

I know its easy to have 20/20 hindsight but I feel that frequent updates do more harm then good. Feel free to voice your opinion of course (as I am sure you will).

I guess asking for some measure of reason is futile but the best I can do is to inform as best as I can. Hopefully I will be able to look back at this thread in a few months and smile.

Edit: I can personally guarantee that no one on the Labcoin team has the Photoshop skills to fake the chip/board images. Source; engineers are not artists.
But we have been given no evidence of any of this.
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drawingthesun
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September 14, 2013, 05:48:32 AM
 #8902


Why is it so hard to have a picture of the mining rig and your assembled boards?

Please reply TheSwede75.
N_S
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September 14, 2013, 05:48:44 AM
 #8903

The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.

Direct confession of a lie. They were never hashing.
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September 14, 2013, 05:48:58 AM
 #8904


Why is it so hard to have a picture of the mining rig and your assembled boards?

Please reply TheSwede75.
Because they don't have any.
limbaugh
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September 14, 2013, 05:49:15 AM
 #8905

Headed below IPO, I'm staying up for this.
afrotec
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September 14, 2013, 05:49:30 AM
 #8906


Why is it so hard to have a picture of the mining rig and your assembled boards?

Please reply TheSwede75.
Zakryze
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September 14, 2013, 05:49:51 AM
 #8907

You guys are nuts. Pushing the same stuff in 30 seconds intervals in a circle jerk of 3-5 accounts over and over again is far beyond of what I tolerate.

For visibility:

UPDATE:

The Labcoin team is current tweaking boards and preparing for prodution
roll out of mining operation. Public mining address/Pool name will
be released as soon as the mining operation reaches a stable hash rate.

We are aware a lot of people are waiting for a address or pool name
where they can follow the hash rate and this is a priority, however
Labcoin also does not want the same kind of 'hysteria' that surrounds
ASICMINER every time pool rate drops or increases.

Once the miners have been deemed '100%' and can reliably mine 24/7 hash
rate will be made public and a new website will be launched where
shareholders can follow the growth in hash rate.

The 130 nm Chips run at approx 1.8 GH/s and the boards are still being
tweaked and tested so that once full production roll out starts
(approx 1-2 weeks) they will mine reliably 24/7

Labcoin has already ordered and will take delivery of OVER 100,000 chips
with accompanying boards and controllers for miner production and
rollout through the month of October.

Within 20 days (early Oct) approx 20TH will be online. Hash rate will
then progressively reach over 50TH of mining power during the month
of October as miners are brought online.

The mining operation will then be scaled up as miners are deployed and
will reach and pass 100TH+ in November to reach 500TH during the
month of December.

Other news:

Gen 2 65nm development is on track. Due to the fast increase in network
diff Labcoin will likely not sell or
ship volume 130nm orders but rather work towards quick tape out and
first run of 65 nm for bulk customer orders and consumer miners.

The 130 nm chips are still highly profitable for mining in datacenter in
China due to the short lead time and availabilty of resources etc.

Labcoin sees no reason to risk shipping chips at this point when the
team can just build miners on-site in China and reach very high
revenue mining with the chips instead of selling them to end users.


TLDR; Miners are being tweaked and tested still and deployment of
'significant' hash rate will be happening in the next two weeks, to reach
approx 20TH within 20 days. During October 50TH+ will be rolled out, to
reach 100TH+ in November and 500TH during the month of December.
65 nm is on track.

I will also post pictures of board and chips in about 2minutes.

Edit: here are chips and boards.http://imgur.com/4yuBc9A

To clarify. Hash goal for Dec is 500th+ and that is from chips that are already ordered using IPO funds. Short term goal is 20 TH within 20 days, 50TH in Oct and 100+ in November. We consider it likely that we surpass both Oct and November goals.


https://bitcointalk.org/index.php?topic=263445.msg3148724#msg3148724


https://bitcointalk.org/index.php?topic=263445.msg3148974#msg3148974

What is this off to the side?

Something on the lense. It's pretty nice visible if you see both pictures at the same time. Smiley

NOT AN UPDATE, JUST PERSONAL OPINION:

To be brutally honest. I realize that has been delays, and I also realize that communication has not always been what I wish we could provide. BUT, supporting day trading or providing updates at the whim of every single person that owns a share is just not priority.

If you do not believe Labcoin can deliver, or that somehow the team is running the world most advanced long-con ever you are well in your right to sell your shares.

The project is fully funded and I have personally 100% faith that Sam and the developers can and will deliver and though mining has been delayed, every single (even the most pessimistic) calculation I have done makes selling my shares anywhere near current price a bad idea.

I am not saying this to influence share price, but simply because it is getting a little tiring to see people yell and scream completely irrelevant information.

The chips that have been developed perform well within variance of what can be expected, boards have arrive and are arriving as we speak and mining will according to the team be up and running at production speeds within a week or two.

With 100,000+ chips already ordered I see no reason as to why the project would not yield a very healthy profit within the next month.

The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.

I know its easy to have 20/20 hindsight but I feel that frequent updates do more harm then good. Feel free to voice your opinion of course (as I am sure you will).

I guess asking for some measure of reason is futile but the best I can do is to inform as best as I can. Hopefully I will be able to look back at this thread in a few months and smile.

Edit: I can personally guarantee that no one on the Labcoin team has the Photoshop skills to fake the chip/board images. Source; engineers are not artists.

Show us a picture of you holding up the order confirmation. Give us a phone number of an office of the 3rd party you ordered from. plz include your address so we know where to send the russians to.

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Ytterbium
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September 14, 2013, 05:50:08 AM
 #8908

To be honest, I'm not to concerned.  This is a startup and startups have issues and delays. Your competitors will have delays as well.

But I do think that your communications strategy has permanently damaged the share price. Many of the people dumping now are not going to buy back in.

If you are having technical difficulties you need to be more up front about it.  It's not about "day traders" it's about the people who believed in this company and funded it's creation.

If these were real shares we could call a board meeting and have you all fired Tongue

drawingthesun
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September 14, 2013, 05:50:12 AM
 #8909

The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.

Direct confession of a lie. They were never hashing.

If this is true price should correct to IPO value. (if this is not a scam, remember scam = 0)


Why is it so hard to have a picture of the mining rig and your assembled boards?

Please reply TheSwede75.
Because they don't have any.

I wonder how they got to 2TH/s?
N_S
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September 14, 2013, 05:50:17 AM
 #8910

The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.

Direct confession of a lie. They were never hashing.
SoylentCreek
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September 14, 2013, 05:50:32 AM
 #8911

Ahem... I'll just leave this here. http://virtualminingcorp.com/  Grin

Was I helpful or insightful?  Feel free to say thanks! 1PuoasR1dYtNq9yYNJj9NreDAfLEzc3Vpe
Luckybit
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September 14, 2013, 05:50:40 AM
 #8912

Remember its tanking because of the lie, the FUD isn't really FUD if its true and warranted.

They said they had a 2TH/s system and this week the MOST they can show for it is some PCB's with defects and a tray of chips.

Still doesn't make it a scam but it means they are probably lying which means the trust is now diminished. This crash shows that the market has no faith in Sam Noi.

At the same time it shows the market is incredibly irrational. Below IPO price is irrational. Below 0.002 is also irrational. They do have chips, they are a real company, they do seem to be working on it so it's probably not a scam. It's worth something to wait and see with a small investment but it's a gamble.

To have it below IPO means it's worthless and not even worth even a 1 BTC investment.

Doesn't matter if they have chips if they can't bring them online til the end of October.

Of course it matters. Be rational. Those chips will generate money in October or in September. Of course they'd generate a lot more money in September than October but if they get the chips working at all then the share prices will go back up and the company will be on a path to profitability.

If you're pulling out at IPO prices it means you don't ever think the company could be profitable. I think that is irrational.

no, it means you think your money would serve you better elsewhere.

Where else can you go? Activemining? IPO price is a better deal than Activemining.
redbeans2012
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September 14, 2013, 05:51:27 AM
 #8913

To be honest, I'm not to concerned.  This is a startup and startups have issues and delays. Your competitors will have delays as well.

But I do think that your communications strategy has permanently damaged the share price. Many of the people dumping now are not going to buy back in.

If you are having technical difficulties you need to be more up front about it.  It's not about "day traders" it's about the people who believed in this company and funded it's creation.

If these were real shares we could call a board meeting and have you all fired Tongue

+1
limbaugh
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September 14, 2013, 05:51:50 AM
 #8914

Once we pass .0014 its free falling
TheSwede75
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September 14, 2013, 05:51:53 AM
 #8915

The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.

Direct confession of a lie. They were never hashing.

Boards hashing, and having a mining operation running is two quite different things. The team has notified me that they need more time to tweak and calibrate boards and chips before they are stable enough for production. This does by no means mean that they are not working.

Vigil
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September 14, 2013, 05:51:53 AM
 #8916

The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.

Direct confession of a lie. They were never hashing.

If this is true price should correct to IPO value. (if this is not a scam, remember scam = 0)


Why is it so hard to have a picture of the mining rig and your assembled boards?

Please reply TheSwede75.
Because they don't have any.

I wonder how they got to 2TH/s?
Yep. No one on here can claim we are FUDing. FACT: Labcoin has not and is not hashing yet.
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September 14, 2013, 05:51:59 AM
 #8917

Where else can you go? Activemining? IPO price is a better deal than Activemining.

Oh please...
drawingthesun
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September 14, 2013, 05:52:17 AM
 #8918

To be honest, I'm not to concerned.  This is a startup and startups have issues and delays. Your competitors will have delays as well.

But I do think that your communications strategy has permanently damaged the share price. Many of the people dumping now are not going to buy back in.

If you are having technical difficulties you need to be more up front about it.  It's not about "day traders" it's about the people who believed in this company and funded it's creation.

If these were real shares we could call a board meeting and have you all fired Tongue

What about the chance they have never hashed and they lied to us? Would you be concerned then?

I want to believe and buy in but need some validation that you have a mining rig that was at one point hashing.... Come on Labcoin, take a photo!
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September 14, 2013, 05:52:40 AM
 #8919

The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.

Direct confession of a lie. They were never hashing.

Boards hashing, and having a mining operation running is two quite different things. The team has notified me that they need more time to tweak and calibrate boards and chips before they are stable enough for production. This does by no means mean that they are not working.



Semantics argument, and a shitty one at that.
velacreations
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September 14, 2013, 05:53:05 AM
 #8920

Yep. No one on here can claim we are FUDing. FACT: Labcoin has not and is not hashing yet.

I said that like 2 days ago...

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