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Author Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)  (Read 1058520 times)
dexX7
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September 16, 2013, 05:47:48 AM
 #9921

Missing the number of days might be one of the reasons my BitBet was rejected.
1 TH/s as an average of the period available. Let's say at least 3 days. Which is highly conservative for a company claiming to have twice that.

As for proofs (which I mentioned earlier), they are:
- stamped blocks
- signed mining address
- public username on a pool respected by the community

That sounds fair. Especially with a timeframe till next month. I suggest to include something like "either 1 TH/s visible on a pool averaged over 3 days" or "at least n stamped/signed blocks mined in t time, if solomining".

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September 16, 2013, 05:51:14 AM
 #9922

Possible outcomes in this Wednesday: (from the best scenario to the worst)
1, Labcoin provides a mining address and a signed message. There're 1 - 2 blocks mined there.
2, Labcoin provides a mining address and a signed message, but there're no block mined yet.
3, Labcoin provides a mining address without a signed message.
4, Labcoin says "mining address will be given soon. We are still tweaking the miner"
5, Labcoin never appears and there's no update forever.

Assign each item a probability based on your prediction and make a decision based on it. I believe that's more useful thing to do than fighting with each other.
VolanicEruptor
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September 16, 2013, 05:53:04 AM
 #9923

Possible outcomes in this Wednesday: (from the best scenario to the worst)
1, Labcoin provides a mining address and a signed message. There're 1 - 2 blocks mined there.
2, Labcoin provides a mining address and a signed message, but there're no block mined yet.
3, Labcoin provides a mining address without a signed message.
4, Labcoin says "mining address will be given soon. We are still tweaking the miner"
5, Labcoin never appears and there's no update forever.
6. Labcoin posts "hahaha suckers" and fucks off. 

Assign each item a probability based on your prediction and make a decision based on it. I believe that's more useful thing to do than fighting with each other.

forgot one..

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September 16, 2013, 05:53:31 AM
 #9924

I get trying to play the waves.  But remember they said they'd post the address "by Wednesday".  Could come sooner, and with no warning.  

Then you're out of luck if you dumped your 25,000 shares and you were hoping it would drop further.  You'll see the price at twice what you dumped at before you can blink. I'm only willing to play waves in a very limited way right now.

If my theory is right, that they just want a block or two solved before they show an address, it could come at any time.

Good luck!





I'm not sure whether they are waiting for a block or two. With solo mining, that's unlikely to be so predictable that they can announce 'by Wednesday'.

More likely, they just got the updates from their engineer team that the hashing problem can be solved in two days and stable hashing can begin no later than this Wednesday.


It's a lot riskier to rely on an engineering team time estimate than it is on finding a block.

One is completely made up, the other is at least a statistical probability!  

 Grin Grin Grin Grin Grin Grin

Agreed. Smiley Especially it seems labcoin, if we assume he did not lie before, has suffered from the over optimistic estimation given by his engineers for several times already.  
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September 16, 2013, 06:01:46 AM
 #9925

I'm really interested to see whether they'll show something tangible until Wednesday. Their other news posts and "proof" so far were rather underwhelming. Right now all they have are Schroedinger chips.

I'm betting Lacoin will provide what he said and early at that. There is no reason not to at this point.

And what if they don't? Hmm.... this is going to be the best *boum* ever.


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JohnyBigs
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September 16, 2013, 06:02:05 AM
 #9926

The selling continues and the bids dry up. Keep trying to prop this turd up - it's not working.

This guy is such a faggot it's not even funny, looks like he bought all of his position now he's on the pump train.
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September 16, 2013, 06:05:08 AM
 #9927

I'm really interested to see whether they'll show something tangible until Wednesday. Their other news posts and "proof" so far were rather underwhelming. Right now all they have are Schroedinger chips.

I'm betting Lacoin will provide what he said and early at that. There is no reason not to at this point.

And what if they don't? Hmm.... this is going to be the best *boum* ever.



Of course if he doesn't provide there will be a small correction.
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September 16, 2013, 06:07:11 AM
 #9928

I've been watching this for a while and have some stake in the game here but I have a serious question. Why Wednesday for the address for mining? Or more specifically, why would they need to supply a future date for an address for mining at all? Hardware and all that can of course cause delays but an address can be generated at any point. Why not supply the address now? What rational explanation is there for this? I'm genuinely trying to think of a rational reason and I can't. Am I missing something?

Not meant to stir the pot (though I'm sure naysayers will answer "because it's a scam, duh") but rather trying to understand it.

Responses appreciated.

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HeRetiK
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the forkings will continue until morale improves


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September 16, 2013, 06:10:07 AM
 #9929

Possible outcomes in this Wednesday: (from the best scenario to the worst)
1, Labcoin provides a mining address and a signed message. There're 1 - 2 blocks mined there.
2, Labcoin provides a mining address and a signed message, but there're no block mined yet.
3, Labcoin provides a mining address without a signed message.
4, Labcoin says "mining address will be given soon. We are still tweaking the miner"
5, Labcoin never appears and there's no update forever.

Assign each item a probability based on your prediction and make a decision based on it. I believe that's more useful thing to do than fighting with each other.

6, Labcoin posts shaky photographs of a computer screen showing blockchain.info
7, Labcoin says "there are no chips, the hashpower has been in your hearts all along"

JohnyBigs
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September 16, 2013, 06:10:15 AM
 #9930

I've been watching this for a while and have some stake in the game here but I have a serious question. Why Wednesday for the address for mining? Or more specifically, why would they need to supply a future date for an address for mining at all? Hardware and all that can of course cause delays but an address can be generated at any point. Why not supply the address now? What rational explanation is there for this? I'm genuinely trying to think of a rational reason and I can't. Am I missing something?

Not meant to stir the pot (though I'm sure naysayers will answer "because it's a scam, duh") but rather trying to understand it.

Responses appreciated.

Because what's the point of posting an address that's not mining and empty? simplest answer.
VolanicEruptor
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September 16, 2013, 06:12:12 AM
 #9931

I've been watching this for a while and have some stake in the game here but I have a serious question. Why Wednesday for the address for mining? Or more specifically, why would they need to supply a future date for an address for mining at all? Hardware and all that can of course cause delays but an address can be generated at any point. Why not supply the address now? What rational explanation is there for this? I'm genuinely trying to think of a rational reason and I can't. Am I missing something?

Not meant to stir the pot (though I'm sure naysayers will answer "because it's a scam, duh") but rather trying to understand it.

Responses appreciated.

it takes an average of 83 hours to solve a block at 2TH/S
they want 1-2 blocks solved before they post the address
good theory
amazing company
etc.

AngelSky
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September 16, 2013, 06:20:02 AM
 #9932

I've been watching this for a while and have some stake in the game here but I have a serious question. Why Wednesday for the address for mining? Or more specifically, why would they need to supply a future date for an address for mining at all? Hardware and all that can of course cause delays but an address can be generated at any point. Why not supply the address now? What rational explanation is there for this? I'm genuinely trying to think of a rational reason and I can't. Am I missing something?

Not meant to stir the pot (though I'm sure naysayers will answer "because it's a scam, duh") but rather trying to understand it.

Responses appreciated.

And the answer is.....

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 ▄█████████ ███      ███  ▄█████  ▄█████  ▄████████▄   ▄████████▄   ▄█████████ ███       ███
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███         ███      ███ ███     ███     ████████████ ███      ███ ███         ███▄     ▄███
███▄        ███▄    ▄███ ███     ███     ███▄         ███      ███ ███▄         ▀███████████
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BitThink
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September 16, 2013, 06:21:13 AM
 #9933

'Average' means there's 50% chance that no blocks will be mined after 83 hours. I don't think labcoin has the luxury of credibility to gamble on this. They should already know that they cannot afford another delay any more, so this time they should not take any risk in announcing a date without 100% confidence.
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September 16, 2013, 06:22:14 AM
 #9934

'Average' means there's 50% chance that no blocks will be mined after 83 hours. I don't think labcoin has the luxury of credibility to gamble on this. They should already know that they cannot afford another delay any more, so this time they should not take any risk in announcing a date without 100% confidence.

Maybe they already found a block, but they're hoping for 1 more before the announcement.  That wouldn't be a gamble..

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September 16, 2013, 06:25:14 AM
 #9935



Maybe they've got 10 TH online now and just want enough blocks to show it.


 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
VolanicEruptor
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September 16, 2013, 06:27:07 AM
 #9936



Maybe they've got 10 TH online now and just want enough blocks to show it.


 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes

Maybe they are holding friedcat captive and stealing his hash rate.. this would explain a lot

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September 16, 2013, 06:39:48 AM
 #9937

Possible outcomes in this Wednesday: (from the best scenario to the worst)
1, Labcoin provides a mining address and a signed message. There're 1 - 2 blocks mined there.
..


Considering that Labcoin have at least ~0.5TH of mining equipment from other vendors, including a few Avalons - quoted below, a signed mining address does not prove that their PCB and chips are working and hashing.. A mining address, technical specification of chip, proper photos/videos of setup will help on the way though.


Quote
We own and run several machines. checkout the team labcoin at btcguild

aren't these your avalons? http://imgur.com/Eg7IlOw

and what is role of Fabrizio in this venture?

Yep. they are.

Fabrizio Tatti is the majority shareholder and CEO of iTec-Pro Limited actually.

Cheers
BitCsByBit
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September 16, 2013, 06:45:38 AM
 #9938



Maybe they've got 10 TH online now and just want enough blocks to show it.


 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes

Maybe they are holding friedcat captive and stealing his hash rate.. this would explain a lot

Now when you mentioned friedcat, I just remembered that he experienced a few weeks delay on his new blades!
They were announced for delivery in July but arrived in August due to some technical issues.

It just shows that these types of technical issues can happen even to the industry leaders.

Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
BitThink
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September 16, 2013, 06:52:44 AM
 #9939

Possible outcomes in this Wednesday: (from the best scenario to the worst)
1, Labcoin provides a mining address and a signed message. There're 1 - 2 blocks mined there.
..


Considering that Labcoin have at least ~0.5TH of mining equipment from other vendors, including a few Avalons - quoted below, a signed mining address does not prove that their PCB and chips are working and hashing.. A mining address, technical specification of chip, proper photos/videos of setup will help on the way though.


Quote
We own and run several machines. checkout the team labcoin at btcguild

aren't these your avalons? http://imgur.com/Eg7IlOw

and what is role of Fabrizio in this venture?

Yep. they are.

Fabrizio Tatti is the majority shareholder and CEO of iTec-Pro Limited actually.

Cheers


Yes, but with a mining address, we can estimate the hashing rate by monitoring it.

Of course, even the 2Th is confirmed (may takes several days or even weeks due to solo mining), this still cannot rule out the possibility that the hashing rate is bought from others.

That's the reason labcoin insisted the final decision needs to be done by the end of October, the date all their 1-gen chips are deployed and whether the 2-gen chips work or not is confirmed.
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September 16, 2013, 07:00:48 AM
 #9940

'Average' means there's 50% chance that no blocks will be mined after 83 hours.

No. That is not what it means.
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