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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1041244 times)
Bitcycle
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September 14, 2013, 01:22:38 PM
 #9281

Part of the problem is that there is zero regulation, so if a "real" company pulled a stunt like this it wouldn't be as big of a deal, shareholders could assume that the company wasn't just a huge scam or that the owners wouldn't run off with some of the money because if it was or they tried that, they'd be prosecuted.

But here, if you lose investor trust it will be difficult to get back.

I agree with you but I don't think Labcoin is a scam. They are just paying the price of too much bullshit and not enough honesty. And as you said, in the BTC world, *trust* is everything.

I don't think they're a scam.

But I also have NO IDEA when they'll actually start hashing, and the answer to that question makes a huge, huge difference in how much this stock is worth.

The last they said was to wait until the END OF OCTOBER, and that's just too long.
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September 14, 2013, 01:23:20 PM
 #9282

Part of the problem is that there is zero regulation, so if a "real" company pulled a stunt like this it wouldn't be as big of a deal, shareholders could assume that the company wasn't just a huge scam or that the owners wouldn't run off with some of the money because if it was or they tried that, they'd be prosecuted.

But here, if you lose investor trust it will be difficult to get back.

I agree with you but I don't think Labcoin is a scam. They are just paying the price of too much bullshit and not enough honesty. And as you said, in the BTC world, *trust* is everything.

I don't think they're a scam.

But I also have NO IDEA when they'll actually start hashing, and the answer to that question makes a huge, huge difference in how much this stock is worth.

The last they said was to wait until the END OF OCTOBER, and that's just too long.

'End of October™'

Good things come to those who wait.
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September 14, 2013, 01:24:01 PM
 #9283

Part of the problem is that there is zero regulation, so if a "real" company pulled a stunt like this it wouldn't be as big of a deal, shareholders could assume that the company wasn't just a huge scam or that the owners wouldn't run off with some of the money because if it was or they tried that, they'd be prosecuted.

But here, if you lose investor trust it will be difficult to get back.

I agree with you but I don't think Labcoin is a scam. They are just paying the price of too much bullshit and not enough honesty. And as you said, in the BTC world, *trust* is everything.
So what then about Labcoin is legitimate? If they don't have functional PCBs, if they can't provide pcitures of assembled boards, if they can't provide proof of hashing, they don't have anything. If they don't have anything then they are necessarily a scam.
AngelSky
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September 14, 2013, 01:29:16 PM
 #9284

Part of the problem is that there is zero regulation, so if a "real" company pulled a stunt like this it wouldn't be as big of a deal, shareholders could assume that the company wasn't just a huge scam or that the owners wouldn't run off with some of the money because if it was or they tried that, they'd be prosecuted.

But here, if you lose investor trust it will be difficult to get back.

I agree with you but I don't think Labcoin is a scam. They are just paying the price of too much bullshit and not enough honesty. And as you said, in the BTC world, *trust* is everything.
So what then about Labcoin is legitimate? If they don't have functional PCBs, if they can't provide pcitures of assembled boards, if they can't provide proof of hashing, they don't have anything. If they don't have anything then they are necessarily a scam.

I'm sure they will have something in 6 weeks(tm), but it's gonna be too late. They lost the only advantage they had: time.

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September 14, 2013, 01:31:44 PM
 #9285

I can't believe I am hearing this crap at this point. If Labcoin had anything that they claimed it would be nothing to provide some real evidence. Nothing they have given us is verifiable. TheSwede75's recent statement regarding "once we get mining running..." was basically an admission that they are not mining. Not being able to provide pictures of completed boards and rigs is proof they are not hashing. Not being able to provide verifiable blocks is proof they are not hashing.

Lets assume your right? (not imho) and now? you sell? or already sold? whats next?
I already sold. At this point it about finishing Labcoin so that no one else gets hurt.

Labcoin already have the money so their success isn't dependant upon the share price. Ultimately, it depends on how their chips perform and the value they provide. We're about to find that out over the coming weeks.

They claim to currently have 2 Th/s and will be expanding to 20 Th/s in the next 20 days. They're not just bringing more hashing power online, they're also tweaking what's already running to optimise the whole system.

There's no proof whatsoever that they are not mining, just opinions. In fact, on the engineering side, from the updates we've had so far, Labcoin seem to be on schedule and possibly a bit ahead. When it has come to providing actual proof that would verify that Labcoin are in deed mining, Labcoin have failed miserably on that score. That is not proof that they're not hashing though, that's just proof of poor PR skills which I kind of expect from engineers anyway.

They've told us that this proof will be forthcoming over the next couple of weeks with the address being provided when mining is stabilised and around 10 TH/s.

Apart from the claimed good news about mining, what else has actually changed? The community has asked for specific things and has been told that those things will be provided within the next couple of weeks.

Sell all you want or buy all you want, it makes no difference to Labcoin. They'll keep bringing more hashing power online as they've already paid for the necessary hardware.
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September 14, 2013, 01:43:30 PM
 #9286

I can't believe I am hearing this crap at this point. If Labcoin had anything that they claimed it would be nothing to provide some real evidence. Nothing they have given us is verifiable. TheSwede75's recent statement regarding "once we get mining running..." was basically an admission that they are not mining. Not being able to provide pictures of completed boards and rigs is proof they are not hashing. Not being able to provide verifiable blocks is proof they are not hashing.

Lets assume your right? (not imho) and now? you sell? or already sold? whats next?
I already sold. At this point it about finishing Labcoin so that no one else gets hurt.

Labcoin already have the money so their success isn't dependant upon the share price. Ultimately, it depends on how their chips perform and the value they provide. We're about to find that out over the coming weeks.

They claim to currently have 2 Th/s and will be expanding to 20 Th/s in the next 20 days. They're not just bringing more hashing power online, they're also tweaking what's already running to optimise the whole system.

There's no proof whatsoever that they are not mining, just opinions. In fact, on the engineering side, from the updates we've had so far, Labcoin seem to be on schedule and possibly a bit ahead. When it has come to providing actual proof that would verify that Labcoin are in deed mining, Labcoin have failed miserably on that score. That is not proof that they're not hashing though, that's just proof of poor PR skills which I kind of expect from engineers anyway.

They've told us that this proof will be forthcoming over the next couple of weeks with the address being provided when mining is stabilised and around 10 TH/s.

Apart from the claimed good news about mining, what else has actually changed? The community has asked for specific things and has been told that those things will be provided within the next couple of weeks.

Sell all you want or buy all you want, it makes no difference to Labcoin. They'll keep bringing more hashing power online as they've already paid for the necessary hardware.

You forget that shareholders have funded their project and they owe us (not me anymore) to take care of the market (at least). How can you trust their words without any evidence of anything ? I just don't understand how you can still have faith at this point. Update after update it's always the same: only words (or some random pictures). Per example, what about the lock of their shares ? They are running out of excuses.

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kingcrimson
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September 14, 2013, 01:51:17 PM
 #9287



Riding some waves is good for us all. The weak jump ship.
It happens in every venture, whether it fails or succeeds. It's a Darwin thing.



The weak have blind faith due to greed. It is sad how easy it is to scam people. The only reason some of you are still on labcoin is because you want it to be true, not because there is any rational evidence. Think about what you are actually defending here.
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September 14, 2013, 01:53:27 PM
 #9288


 In fact, on the engineering side, from the updates we've had so far, Labcoin seem to be on schedule and possibly a bit ahead.

What schedule is that?

They are absolutely NOT on schedule.

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September 14, 2013, 01:54:07 PM
 #9289



Riding some waves is good for us all. The weak jump ship.
It happens in every venture, whether it fails or succeeds. It's a Darwin thing.



The weak have blind faith due to greed. It is sad how easy it is to scam people. The only reason some of you are still on labcoin is because you want it to be true, not because there is any rational evidence. Think about what you are actually defending here.

+1 good words bro. stage of denial isnt over yet. Seems like many people rely on crapcoin to generate some income for them.

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Vigil
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September 14, 2013, 01:56:12 PM
 #9290

I can't believe I am hearing this crap at this point. If Labcoin had anything that they claimed it would be nothing to provide some real evidence. Nothing they have given us is verifiable. TheSwede75's recent statement regarding "once we get mining running..." was basically an admission that they are not mining. Not being able to provide pictures of completed boards and rigs is proof they are not hashing. Not being able to provide verifiable blocks is proof they are not hashing.

Lets assume your right? (not imho) and now? you sell? or already sold? whats next?
I already sold. At this point it about finishing Labcoin so that no one else gets hurt.

Labcoin already have the money so their success isn't dependant upon the share price. Ultimately, it depends on how their chips perform and the value they provide. We're about to find that out over the coming weeks.

They claim to currently have 2 Th/s and will be expanding to 20 Th/s in the next 20 days. They're not just bringing more hashing power online, they're also tweaking what's already running to optimise the whole system.

There's no proof whatsoever that they are not mining, just opinions. In fact, on the engineering side, from the updates we've had so far, Labcoin seem to be on schedule and possibly a bit ahead. When it has come to providing actual proof that would verify that Labcoin are in deed mining, Labcoin have failed miserably on that score. That is not proof that they're not hashing though, that's just proof of poor PR skills which I kind of expect from engineers anyway.

They've told us that this proof will be forthcoming over the next couple of weeks with the address being provided when mining is stabilised and around 10 TH/s.

Apart from the claimed good news about mining, what else has actually changed? The community has asked for specific things and has been told that those things will be provided within the next couple of weeks.

Sell all you want or buy all you want, it makes no difference to Labcoin. They'll keep bringing more hashing power online as they've already paid for the necessary hardware.
You have it completely backwards. There is NO proof that they are hashing or that they even have potentially function hardware. There is no argument in stating that "there is no proof they aren't hashing' - that means nothing. There is no proof that I am not a member of the Rothschild family plotting to takeover Bitcoin, either. That doesn't make legitimate an argument that claims I am.

You say, "They claim to have 2 TH/s..." and "They are not just bringin more hashing power online..." - you contradict yourself in the same sentence. We don't know that they have 2 TH/s let alone whether or not they plan on or have the capability to bring on more. You acknowledge that their claims are incredible and then assume that their grander claims somehow are credible.
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September 14, 2013, 01:58:12 PM
 #9291

Meh, Nothing to see here any more. We have stabilized at .002 and will stay there till the next disappointment.
If you are in it now, that's just a plain gamble, and a stupid one.

Labcoin, I'll be back when you bring some solid proof.

Found my posts helpful? Consider buying me a beer :-)!:
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Bitcycle
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September 14, 2013, 01:59:09 PM
 #9292

Meh, Nothing to see here any more. We have stabilized at .002 and will stay there till the next disappointment.
If you are in it now, that's just a plain gamble, and a stupid one.

Labcoin, I'll be back when you bring some solid proof.


True, except this isn't where it's going to stabilize.  It's going to drop to more like 0.0015 or so.
velacreations
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September 14, 2013, 02:02:17 PM
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hey, look, Mabsark is here!  Hey buddy, I didn't expect you to show your face after all of that last night.

OH, but I see you are trying to pump and spin...   Grin

foxykah
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September 14, 2013, 02:02:21 PM
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Meh, Nothing to see here any more. We have stabilized at .002 and will stay there till the next disappointment.
If you are in it now, that's just a plain gamble, and a stupid one.

Labcoin, I'll be back when you bring some solid proof.


True, except this isn't where it's going to stabilize.  It's going to drop to more like 0.0015 or so.

0.0014-16 seems solid now, this is still overvalued. They have nothing provable, and the negative PR just made the situation worse. It should only be over IPO, because we know that 'Something' happened, and saw pics about things, that could be anything ranging from a scam to working components.

Good things come to those who wait.
Mabsark
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September 14, 2013, 02:04:32 PM
 #9295


 In fact, on the engineering side, from the updates we've had so far, Labcoin seem to be on schedule and possibly a bit ahead.

What schedule is that?

They are absolutely NOT on schedule.



They were supposed to bring 4-5 Th/s online on the 10th of September and around 50 Th/s in mid-October.
They claim they currently have 2 Th/s online and will be expanding to 20 Th/s over the next 20 days, with 50 Th/s coming in October, 100 Th/s in November and 500 Th/s by the end of the year.

I'd say that's on or ahead of schedule.
boyohi
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September 14, 2013, 02:04:35 PM
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Labcoin best coin. Our great and glorious leader will show us the way to best the imperialist pigs.
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September 14, 2013, 02:08:18 PM
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 In fact, on the engineering side, from the updates we've had so far, Labcoin seem to be on schedule and possibly a bit ahead.

What schedule is that?

They are absolutely NOT on schedule.



They were supposed to bring 4-5 Th/s online on the 10th of September and around 50 Th/s in mid-October.
They claim they currently have 2 Th/s online and will be expanding to 20 Th/s over the next 20 days, with 50 Th/s coming in October, 100 Th/s in November and 500 Th/s by the end of the year.

I'd say that's on or ahead of schedule.
Who gives shit. I am going to have 20 TH/s online by the end of next week, 50 TH/s by the end of Sept., and 500 Th/s by Nov 15th. So why not invest in my venture instead - it is much more profitable. Please make all investments payable to my BTC address and I will pay bi-weekly dividends.
velacreations
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September 14, 2013, 02:09:14 PM
 #9298

What schedule is that?

They are absolutely NOT on schedule.



They were supposed to bring 4-5 Th/s online on the 10th of September

They currently have 0 TH/s and it's September 14.

kokojie
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September 14, 2013, 02:09:58 PM
 #9299


 In fact, on the engineering side, from the updates we've had so far, Labcoin seem to be on schedule and possibly a bit ahead.

What schedule is that?

They are absolutely NOT on schedule.



They were supposed to bring 4-5 Th/s online on the 10th of September and around 50 Th/s in mid-October.
They claim they currently have 2 Th/s online and will be expanding to 20 Th/s over the next 20 days, with 50 Th/s coming in October, 100 Th/s in November and 500 Th/s by the end of the year.

I'd say that's on or ahead of schedule.

Except they have ZERO proof that they are hashing with 2 TH since over a week ago, (supposedly it should be 4TH now). How hard is it to hash on a pool with public stats? or stamp blocks. Or just provide an address where the rewards went to.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
Bitcycle
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September 14, 2013, 02:10:29 PM
 #9300

What schedule is that?

They are absolutely NOT on schedule.



They were supposed to bring 4-5 Th/s online on the 10th of September

They currently have 0 TH/s and it's September 14.

I mean seriously, how hard is this to understand?

They have nothing online.

Zero.

0.

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