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

[yuansuyi]

Could you please provide some information on the estimated time frame of things? I feel this is very essential to establishing the potential of Labcoin. If your chip is indeed set to being completed Q4, this is around the same time ACTM releases it's 28nm chips (which are vastly superior), and thus making this venture a lot less attractive.

Ken just have meetings with eASIC, argreement is to be signed, NRE is to be paied in weeks, before eASIC actually begin to working on desgin. why do you think ACTM be able to hand out chip in Q4?

[zy02264]

Higher bid should be filled first, this maybe not perfect, but its efficiency was approved by real stock market in real life.

Your solution seems fair. But you know what, there gonna be a lot new accounts being registered in next few hours, at least I am going to do so.

I know you are trying to do it fairly. But please keep the basic logic of free market in mind. Other idea without think about it only lead to more loopholes.

timestamps. timestamps everywhere. only accounts registered before the time the "Do not move your bids" post was made should get shares.
[/quote]

If this would be the final plan. That means the IPO actually began few hours ago and ended when "Do not move your bids". And there wasn't any announcement about this. I know there must be people are having there coins on the way. Guess how many angry investors will dump bad words here?

[BitHub]

sec have been notified and are on standby

[foxykah]

Higher bid should be filled first, this maybe not perfect, but its efficiency was approved by real stock market in real life.

Your solution seems fair. But you know what, there gonna be a lot new accounts being registered in next few hours, at least I am going to do so.

I know you are trying to do it fairly. But please keep the basic logic of free market in mind. Other idea without think about it only lead to more loopholes.

timestamps. timestamps everywhere. only accounts registered before the time the "Do not move your bids" post was made should get shares.

If this would be the final plan. That means the IPO actually began few hours ago and ended when "Do not move your bids". And there wasn't any announcement about this. I know there must be people are having there coins on the way. Guess how many angry investors will dump bad words here?
[/quote]

either way there will be angry investors dumping bad words over here.

[vlaoou321]

The best way, more than 0.001 will not be allowed to buy, according to the order has purchased IPO shares. Because just want to 0.001 price IPO. Otherwise the other way to sell IPO shares.

vlaoou321: No offense, but you really should invest a little more time in making your posts understandable.

And here I am, thinking it was just me

SORRY

[E.Sam]

Is everyone dumping their portfolio for Labcoin IPO?

[camu6]

I vote for the free market deciding.

I get and like your standpoint, but selling an IPO at IPO price is the tiny bit of regulation an IPO is for. All free market as soon as 7 million shares are sold for the initial offering.

[boyohi]

We need more fuel for this fire. Nothing else to do until TheSwede75 makes his announcement.

[foxykah]

I vote for the free market deciding.

I get and like your standpoint, but selling an IPO at IPO price is the tiny bit of regulation an IPO is for. All free market as soon as 7 million shares are sold for the initial offering.

+1

[cix888]

Is everyone dumping their portfolio for Labcoin IPO?

https://i.imgur.com/k09mEEC.png

I sold 250 basic mining yest. you can see the big dildo

[vlaoou321]

I vote for the free market deciding.

I get and like your standpoint, but selling an IPO at IPO price is the tiny bit of regulation an IPO is for. All free market as soon as 7 million shares are sold for the initial offering.

+1

+2

[dexX7]

Here is what I'd do in your situation:

1) Reset all bids > 0.001 to 0.001
2) Set a cap on the number of shares each person can get
3) After the cap is in place, if it's still over 7mil then scale back orders based on % of orders placed.

Right now there are only about 11m orders placed > 0.001, which means if no new orders come in everyone gets 63% of what they asked for.  With a cap, it should be a pretty big portion of what everyone, except the huge orders, wanted.

Would (3) imply that I would pay more per share than 0.001?

[foxykah]

Here is what I'd do in your situation:

1) Reset all bids > 0.001 to 0.001
2) Set a cap on the number of shares each person can get
3) After the cap is in place, if it's still over 7mil then scale back orders based on % of orders placed.

Right now there are only about 11m orders placed > 0.001, which means if no new orders come in everyone gets 63% of what they asked for.  With a cap, it should be a pretty big portion of what everyone, except the huge orders, wanted.

Would (3) imply that I would pay more per share than 0.001?

no, it means that you get only a specific % of your bid volume, and all of those shares will be sold for you @0.001

[foxykah]

total bid volume is skyrocketing. looks like somebody did not care about the timestamp post

[yuansuyi]

I vote for the free market deciding.

I get and like your standpoint, but selling an IPO at IPO price is the tiny bit of regulation an IPO is for. All free market as soon as 7 million shares are sold for the initial offering.

+1. If someone really belive in free market, he/she can buy shares after IPO finished, at price formed by free market deciding, in case he/she missed the IPO. Do not brother hiting F5, goto sleep.

[boyohi]

I vote for the free market deciding.

I get and like your standpoint, but selling an IPO at IPO price is the tiny bit of regulation an IPO is for. All free market as soon as 7 million shares are sold for the initial offering.

+1

+2

I'm really interested in how burnside will decide. I think release 3.5mil for the Americans and the rest at a more convenient time for the Europeans might be a good idea.
EDIT: Capping the price at the IPO

[TheSwede75]

UPDATE:

There is an update coming shortly from Ethan Burnside. The situation as it is is very hard to solve fairly, and as BTCT.CO has never encountered a IPO where committed investments outweighs the amount of available shares Ethan is constructing a solution to the problem customized. The solution will mimic the behavior of regular IPO's and will be presented by Ethan himself here shortly!

[foxykah]

I vote for the free market deciding.

I get and like your standpoint, but selling an IPO at IPO price is the tiny bit of regulation an IPO is for. All free market as soon as 7 million shares are sold for the initial offering.

+1

+2

I'm really interested in how burnside will decide. I think release 3.5mil for the Americans and the rest at a more convenient time for the Europeans might be a good idea.
EDIT: Capping the price at the IPO

and how can you be sure, that no american investors can buy shares when they are being sold for the europeans?

[vlaoou321]

I do not predict this being a problem. At least not on any 'scale' as creating a bunch of sock-puppet accounts 'just in case' seems like quite an undertaking when no solution has been posted yet. Then again, I also didn't predict the asset to be approved in 7 hours or with this interest so maybe I should just stop predicting things... 

Here is what I'd do in your situation:

1) Reset all bids > 0.001 to 0.001
2) Set a cap on the number of shares each person can get
3) After the cap is in place, if it's still over 7mil then scale back orders based on % of orders placed.

Right now there are only about 11m orders placed > 0.001, which means if no new orders come in everyone gets 63% of what they asked for.  With a cap, it should be a pretty big portion of what everyone, except the huge orders, wanted.

Personally I have to say that I quite like this solution. I will still wait until I can get guidance by Burnside before we make any decision. As previously stated, I just don't feel confident in taking any action by myself.

but because of these kind of options, the asset should be locked ASAP to prevent future bids, as those would lower the % of shares each of the bidders will get

Unfortunately I cannot lock the asset as an issuer, since this automatically removes all bids. Waiting for Ethan Burnside's input.

12365136 SHARES````

[Moebius327]

8 PM CENTRAL TIME - US

Maybe use UTC next time?