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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1041799 times)
Ytterbium
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September 15, 2013, 05:27:37 AM
 #9621

The problem, of course is that even if they do fix their problems, it's not going to fix their share prices because people no longer trust them.

Instead of saying "We are hashing at 2Th/s" they could have said "We got one of our chips to hash on a custom testing board - we're waiting for or mass produced boards to actually start, we should be at 2TH/s once we get them in a couple days" the reaction wouldn't have been that they were a scam and not hashing at all.

So, while maybe they're having some issues getting everything up and running, they've burned through their credibility and won't be able to get back to the prices that they were at before until they have a solid track record of dividends.

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BitCsByBit
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September 15, 2013, 06:16:22 AM
 #9622

500 pages is not far away, keep up the good work guys!

Compared to 24 hours ago, the silence over the last hours suggests that our beloved bears are done.


The silence over the past few hours suggests that the ActM cheer-leading squad has taken a break from Labcoin, probably due to the fact that they have issues with their own share price - currently down to the IPO level on BTCT.

In the last 90 pages, 90% of the posts were posted by the heavily invested ActM FUDsters.

To be honest, I expected some teething issues and I'm not surprised, given that they did not test the PCB's before ordering them:

- PCB/Components for miners are expected to arrive shortly (a few days) after chips. To speed up miner production the PCB has not been tested prior to order but thorough simulations have been ran and Labcoin does not expect any issues with the PCB. SHOULD a problem arise Labcoin expects less than 1 week until new PCB can be produced, so even a worst case scenario has functioning PCB in-hand in about 2 weeks.

These types of issues occur and I'm confident that they will be ironed out shortly.

At the end of the day, for every share that was sold there was a buyer.   Cheesy

Edit: Typo


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freedomno1
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September 15, 2013, 06:21:26 AM
 #9623



Looking for any possible upside- if they really have ordered 100,000 chips, then the chips themselves must work...


Maybe they ordered all the chips without testing them first. I recall reading that they were choosing not to do this to save time. Also, how would they know if they don't have a single functional mining board? The ones pictured obviously don't work as everyone experienced with PCB design has pointed out.

Hmm so we made the first wafer batch didn't launch a test first to save time and produced 100,000 non functional chips so we can't refund the money
That would be grim indeed

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September 15, 2013, 07:06:53 AM
 #9624

There's no scam and no pictures faking, here's another take :

http://imageshack.us/photo/my-images/199/uzby.jpg/

Proof of mining will be given as soon as possible.



"This photo has been removed" ?

What is the motivation for removing a photo? I'm not a typical paranoia, but this is pretty suspect.

The Happy Clappy Bitcoin Chappy - http://twitter.com/vincesamios
tucenaber
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September 15, 2013, 07:13:08 AM
 #9625

There's no scam and no pictures faking, here's another take :

http://imageshack.us/photo/my-images/199/uzby.jpg/

Proof of mining will be given as soon as possible.



"This photo has been removed" ?

What is the motivation for removing a photo? I'm not a typical paranoia, but this is pretty suspect.

Suspect and at the same time completely pointless. Probably even contra productive. Ask Barbra Streisand.
KCBitcoin
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September 15, 2013, 07:17:21 AM
 #9626

There's no scam and no pictures faking, here's another take :

http://imageshack.us/photo/my-images/199/uzby.jpg/

Proof of mining will be given as soon as possible.



"This photo has been removed" ?

What is the motivation for removing a photo? I'm not a typical paranoia, but this is pretty suspect.

Suspect and at the same time completely pointless. Probably even contra productive. Ask Barbra Streisand.
They are just doing everything so wrong.
BombaUcigasa
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September 15, 2013, 07:39:15 AM
 #9627

If you don't think a board can work without visible traces on the top layer can you explain how the bitfury H-board actually works, when there are no visible, top-layer traces between the chips and the capacitors or anything else, except for closed loops that connect back to themselves?


My apologies if I'm wrong, it would be a good thing if I was. But the board you presented has a few things that the ones posted by Labcoin do not, such as:
- Soldered chips (optional)
- Other soldered components (optional)
- Chips have traces running from their pads, visibly (optional)
- Vias visible showing the board is clearly multi-layer (optional)
- Several components around each chip (optional - could be Labcoin are super pro and don't need anything outside the chip package or they are on the other side/other board)
- An interface array of pads where power connects (required - they only show one power pin per each chip)
- An interface array of pads where the other board connects (required)

If those things are real and they work, that's quite an efficient and breakthrough design that nobody so far has made for bitcoin.

Also people asking other people to explain why some chips are missing. Are you serious? Not all trays have to be filled with chips, and the chips could be located anywhere else than that tray and a mining board, those are not the only two locations in the Universe where the (presumably) missing chips could be located.

But anyway the whole "the boards are bad that proves they're scammers!!" thing makes zero sense. Why would scammers create boards with no traces when they have $700k in IPO money to spend.  You can get a PCB created in 24 hours, with any design you want, including full netlist testing to make sure all the connections on every board work fine.  It would be expensive, but it's certainly something that could be done.
True. I could make a fake design, get a board, find some tray of 44 pins chips to match the board, and post some hand-shaky pictures with an old DSLR that can't clean dust off the sensor.

But if I did that, there would be discrepancies between real designs and my fake design (me being incompetent at this as demonstrated by the users of this forum in reply to my posts) . Such as bad layout, unconnected pads, missing pads, missing logic connectors, oversized elements, undersized elements, non-standard design choices, that could totally blow up my fake design pictures.
BitThink
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September 15, 2013, 08:02:41 AM
 #9628

500 pages is not far away, keep up the good work guys!

Compared to 24 hours ago, the silence over the last hours suggests that our beloved bears are done.


The silence over the past few hours suggests that the ActM cheer-leading squad has taken a break from Labcoin, probably due to the fact that they have issues with their own share price - currently down to the IPO level on BTCT.

In the last 90 pages, 90% of the posts were posted by the heavily invested ActM FUDsters.

To be honest, I expected some teething issues and I'm not surprised, given that they did not test the PCB's before ordering them:

- PCB/Components for miners are expected to arrive shortly (a few days) after chips. To speed up miner production the PCB has not been tested prior to order but thorough simulations have been ran and Labcoin does not expect any issues with the PCB. SHOULD a problem arise Labcoin expects less than 1 week until new PCB can be produced, so even a worst case scenario has functioning PCB in-hand in about 2 weeks.

These types of issues occur and I'm confident that they will be ironed out shortly.

At the end of the day, for every share that was sold there was a buyer.   Cheesy

Edit: Typo



If Its PCB design issue, then labcoin was lying blatantly when he said they had begun hashing at 2TH and everything is fine. I don't think they will be so stupid that they risk their credibility  to cover a error can be easily fixed in 1 week

More likely it was a issue out of their expectation. For example, The board worked well for a while and then malfunctioned due to heat or the software does not scale to large number of chips.

Anyway, could we try to guess, if labcoin never lies, what's the possible situation now? They are indeed hashing, but is not stable. They can only provide a mining address couple of days later but not now. They cannot provide photos without further confusing investors.

For me, the only plausible explanation is they don't have full control of their assembly and mining partners. All they have in hand are some sample chips and boards. Their parter in China refuse giving any photos taken in their side, and their reason or excuse may be  they don't want disclose any evidence that they are involved in this project, since illegal IPO may lead to death penalty in China.
demzie
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September 15, 2013, 08:16:14 AM
 #9629

"Their parter in China refuse giving any photos taken in their side, and their reason or excuse may be  they don't want disclose any evidence that they are involved in this project, since illegal IPO may lead to death penalty in China."

Indeed could be a firm and tight NDA..
I still think they will blow our minds when the stuff does work.
nickwen
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September 15, 2013, 08:16:29 AM
 #9630

There's no scam and no pictures faking, here's another take :

http://imageshack.us/photo/my-images/199/uzby.jpg/

Proof of mining will be given as soon as possible.



"This photo has been removed" ?

What is the motivation for removing a photo? I'm not a typical paranoia, but this is pretty suspect.

Suspect and at the same time completely pointless. Probably even contra productive. Ask Barbra Streisand.




here is the backup

if you guys need to CSI or something........
BitThink
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September 15, 2013, 08:38:43 AM
 #9631

"Their parter in China refuse giving any photos taken in their side, and their reason or excuse may be  they don't want disclose any evidence that they are involved in this project, since illegal IPO may lead to death penalty in China."

Indeed could be a firm and tight NDA..
I still think they will blow our minds when the stuff does work.

Labcoin said before they will outsource the deploying for the next batch of chips. Hopefully they have better control that time rather than otherwise.
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September 15, 2013, 09:20:51 AM
 #9632

500 pages is not far away, keep up the good work guys!

Compared to 24 hours ago, the silence over the last hours suggests that our beloved bears are done.


The silence over the past few hours suggests that the ActM cheer-leading squad has taken a break from Labcoin, probably due to the fact that they have issues with their own share price - currently down to the IPO level on BTCT.

In the last 90 pages, 90% of the posts were posted by the heavily invested ActM FUDsters.

To be honest, I expected some teething issues and I'm not surprised, given that they did not test the PCB's before ordering them:

- PCB/Components for miners are expected to arrive shortly (a few days) after chips. To speed up miner production the PCB has not been tested prior to order but thorough simulations have been ran and Labcoin does not expect any issues with the PCB. SHOULD a problem arise Labcoin expects less than 1 week until new PCB can be produced, so even a worst case scenario has functioning PCB in-hand in about 2 weeks.


These types of issues occur and I'm confident that they will be ironed out shortly.

At the end of the day, for every share that was sold there was a buyer.   Cheesy

Edit: Typo



Nonsense, how do you think things work?  Do you reckon that people sit and read threads to nurse their share price back to health?  Silly, silly comment.

Personally I don't feel I need to post on this thread anymore.  If people haven't made up their minds about this security by now then they've either bought blindly or are in total denial.

And for those FUDsters, as you like to call them, just remember that they are all reading every post in this thread.

Finally, if you think they are all from the same security and working together then you probably think the US Government brought down the Twin Towers and that Bitcoin will be worth $100,000 in 5 years.

PAH!

https://mybitcoin.garden
Bitcoin game where you can earn up to 220% on each planted garden!
demzie
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September 15, 2013, 09:53:57 AM
 #9633

bye bye zumzero

EDIT: See you in about 6 weeks Smiley
BitCsByBit
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September 15, 2013, 10:35:20 AM
 #9634

zumzero, at least you have admitted what you are doing in this thread, others are not as upfront in admitting their agenda:




If you do not own any LC shares, and you are here only to 'help', why dont you just go to sleep or anything? Is this that entertaining?

I'm getting my revenge on Mab because of the way he carried on in the ActM threads.  No more, no less. An eye for an eye, a tooth for a tooth.  It's that simple.  And yes, it is quite entertaining.

Are you insane or just incredibly stupid? If you want revenge on me, come back in November.

I had a real effect on share price tonight by pointing out some home truths about this company.  I had zero financial motivation to do so.  I was disgusted with the way you conducted yourself on the ActM thread for a prolonged period and am now happy that I feel I have paid you back the favour.  I don't care if you make money or lose money or if this company succeeds.  I simply wanted you to be on the receiving end of some good old fashioned fud.  I am not insane, nor am I stupid.  I am intelligent and very well balanced.  Good night.  Smiley

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September 15, 2013, 10:50:19 AM
 #9635

Good luck boys.  Hope it works out for you.   Smiley

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September 15, 2013, 10:53:23 AM
 #9636

Labcoiners!
Stop dwelling on your misfortunes and start thinking positively.  Labcoin gave you plenty of lemons, let's make some lemonade!

1.  Wrapping paper:  While the labcoin logo fails on many levels, and the roundy graphic looks like a pizza, it is nonetheless blue -- a pretty color.  The paper used for photo backgrounds could be used to individually wrap rolls of toilet paper or bespoke feminine napkins.

2.  Chips:  They're dead, Jim.  But cats love 'em -- many Chinese cats are already enjoying the Labcoin chippery, as is evidenced by the half-empty tray.  The trays, in conjunction with several chips, can also be used to train Labcoin investors for their future employment in the high-tech industry.
Get them chips into them holes before the buzzer sounds!

3.  Boards:  Sure, they're a product of a child playing with a free copy of Eagle -- we all have to start somewhere.  They are attractively colored and can be marketed to dog owners -- ideal for scooping up those "wet ones."

"I'll brush later Daddy, i'm investing!"

boyohi
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September 15, 2013, 11:12:34 AM
 #9637

Labcoiners!
Stop dwelling on your misfortunes and start thinking positively.  Labcoin gave you plenty of lemons, let's make some lemonade!

1.  Wrapping paper:  While the labcoin logo fails on many levels, and the roundy graphic looks like a pizza, it is nonetheless blue -- a pretty color.  The paper used for photo backgrounds could be used to individually wrap rolls of toilet paper or bespoke feminine napkins.

2.  Chips:  They're dead, Jim.  But cats love 'em -- many Chinese cats are already enjoying the Labcoin chippery, as is evidenced by the half-empty tray.  The trays, in conjunction with several chips, can also be used to train Labcoin investors for their future employment in the high-tech industry.
Get them chips into them holes before the buzzer sounds!

3.  Boards:  Sure, they're a product of a child playing with a free copy of Eagle -- we all have to start somewhere.  They are attractively colored and can be marketed to dog owners -- ideal for scooping up those "wet ones."

"I'll brush later Daddy, i'm investing!"



Now we got a real cheerleader
jinyoubei
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September 15, 2013, 11:33:18 AM
 #9638

Did you even bother to read Chinese laws?

500 pages is not far away, keep up the good work guys!

Compared to 24 hours ago, the silence over the last hours suggests that our beloved bears are done.


The silence over the past few hours suggests that the ActM cheer-leading squad has taken a break from Labcoin, probably due to the fact that they have issues with their own share price - currently down to the IPO level on BTCT.

In the last 90 pages, 90% of the posts were posted by the heavily invested ActM FUDsters.

To be honest, I expected some teething issues and I'm not surprised, given that they did not test the PCB's before ordering them:

- PCB/Components for miners are expected to arrive shortly (a few days) after chips. To speed up miner production the PCB has not been tested prior to order but thorough simulations have been ran and Labcoin does not expect any issues with the PCB. SHOULD a problem arise Labcoin expects less than 1 week until new PCB can be produced, so even a worst case scenario has functioning PCB in-hand in about 2 weeks.

These types of issues occur and I'm confident that they will be ironed out shortly.

At the end of the day, for every share that was sold there was a buyer.   Cheesy

Edit: Typo



If Its PCB design issue, then labcoin was lying blatantly when he said they had begun hashing at 2TH and everything is fine. I don't think they will be so stupid that they risk their credibility  to cover a error can be easily fixed in 1 week

More likely it was a issue out of their expectation. For example, The board worked well for a while and then malfunctioned due to heat or the software does not scale to large number of chips.

Anyway, could we try to guess, if labcoin never lies, what's the possible situation now? They are indeed hashing, but is not stable. They can only provide a mining address couple of days later but not now. They cannot provide photos without further confusing investors.

For me, the only plausible explanation is they don't have full control of their assembly and mining partners. All they have in hand are some sample chips and boards. Their parter in China refuse giving any photos taken in their side, and their reason or excuse may be  they don't want disclose any evidence that they are involved in this project, since illegal IPO may lead to death penalty in China.
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September 15, 2013, 11:37:37 AM
 #9639

Did you even bother to read Chinese laws?


For me, the only plausible explanation is they don't have full control of their assembly and mining partners. All they have in hand are some sample chips and boards. Their parter in China refuse giving any photos taken in their side, and their reason or excuse may be  they don't want disclose any evidence that they are involved in this project, since illegal IPO may lead to death penalty in China.

No need. Americans know everything
BitThink
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September 15, 2013, 11:50:38 AM
 #9640

Did you even bother to read Chinese laws?

500 pages is not far away, keep up the good work guys!

Compared to 24 hours ago, the silence over the last hours suggests that our beloved bears are done.


The silence over the past few hours suggests that the ActM cheer-leading squad has taken a break from Labcoin, probably due to the fact that they have issues with their own share price - currently down to the IPO level on BTCT.

In the last 90 pages, 90% of the posts were posted by the heavily invested ActM FUDsters.

To be honest, I expected some teething issues and I'm not surprised, given that they did not test the PCB's before ordering them:

- PCB/Components for miners are expected to arrived shortly (a few days) after chips. To speed up miner production the PCB has not been tested prior to order but thorough simulations have been ran and Labcoin does not expect any issues with the PCB. SHOULD a problem arise Labcoin expects less than 1 week until new PCB can be produced, so even a worst case scenario has functioning PCB in-hand in about 2 weeks.

These types of issues occur and I'm confident that they will be ironed out shortly.

At the end of the day, for every share that was sold there was a buyer.   Cheesy

Edit: Typo



If Its PCB design issue, then labcoin was lying blatantly when he said they had begun hashing at 2TH and everything is fine. I don't think they will be so stupid that they risk their credibility  to cover a error can be easily fixed in 1 week

More likely it was a issue out of their expectation. For example, The board worked well for a while and then malfunctioned due to heat or the software does not scale to large number of chips.

Anyway, could we try to guess, if labcoin never lies, what's the possible situation now? They are indeed hashing, but is not stable. They can only provide a mining address couple of days later but not now. They cannot provide photos without further confusing investors.

For me, the only plausible explanation is they don't have full control of their assembly and mining partners. All they have in hand are some sample chips and boards. Their parter in China refuse giving any photos taken in their side, and their reason or excuse may be  they don't want disclose any evidence that they are involved in this project, since illegal IPO may lead to death penalty in China.
BtcGarden MyMiner both canceled their IPO. What's the reason in your opinion?

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