[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)

[VolanicEruptor]

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..

[1714223065]

1714223065

[1714223065]

1714223065

[BitThink]

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!  

 

Agreed. 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.  

[AngelSky]

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.

[JohnyBigs]

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.

[limbaugh]

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.

[redphlegm]

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.

[HeRetiK]

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]

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]

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]

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.....

[BitThink]

'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.

[VolanicEruptor]

'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..

[Bitcycle]

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


 

[VolanicEruptor]

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


 

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

[HuLaN]

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.

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]

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


 

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.

[BitThink]

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.

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.

[tucenaber]

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

No. That is not what it means.

[HuLaN]

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.

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.

Seems like something that SHOULD take 5mins to generate; proper videos / photos, technical specs (which there is ZERO reason for them to not release) would be a hell of a lot easier then have people wait until end of October..  

I guess all I'm saying is that a mining address by itself doesn't prove anything.

[bittymitty]

Pictures make people confused and confused people do stupid things...