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

[wiak2]

That said, I don't think it would hurt terribly if Burnside opened the bidding up, for say 5 minutes, to people who had their coins in before the cutoff.

There have been so many things go wrong, this is the only proper thing to do.

[mgio]

Just to make matters worse, this IPO caused a ridiculous crash of ASICMiner.

So not only did I miss out on a great opportunity, I lost a ton of money too.

I'm down a few grand. If I had 10x as many shares in Asicminer I'd probably have punched a wall for not selling out before the crash.

I've been selling my ASICMiner shares but only was able to get rid of a couple dozen before the crash. Still have about 100 left :-/

I know it will come back. It's jsut frustrating because I was about to get out completely and move on to other things. Now I have to sit around and wait for it to recover.

[ShroomsKit]

No, there is absolutely nothing fair about it. That you even considered using that word.

I was with you in the beginning but I think you're taking it a bit too far. People who kept up to date with this IPO knew it had 2 votes as of yesterday and that it could go off at any time. Many people had the foresight to transfer their coins days ago in preparation.

It is unfortunate that a bug in the site caused a problem with your deposit, but really, this is the Internet and these things happen. It's like being late for a job interview. When something is important, it falls on you to make an assessment of the situation and leave early enough to give yourself enough time. You don't seem to be taking any responsibility at all.

That said, I don't think it would hurt terribly if Burnside opened the bidding up, for say 5 minutes, to people who had their coins in before the cutoff.

We don't even know if it's a bug or done on purpose.

[Ytterbium]

Now listen up. If the IPO had been pulled through like a regular BTCT IPO the share price would have already been more than 10x, 100x, fuck if i knew where above the actual IPO price. The orderbook was already revving up for a bloodbath more than 10 hrs before the actual release time. You would have never, I repeat, you would have never gotten shares anywhere near the IPO price. This way you had the chance to at least get some of the shares at the regular IPO price.

+1

[mumung]

Hey,

I am still at work and I really expected to come home and place
a bid for whatever price, before the IPO started.
This morning you have stated we will have 12 hours left.
Just pulling the public offer and leaving everyone else behind is
a big punch in the face to everybody and has nothing to do with being fair.

I wish you would reconsider that decision and open the orderbook again so that everyone
can participate until tonight 8pm central time (so in about 4 hours).


Big bummer!

[foxykah]

+1 

[VinceSamios]

Still waiting for acceptance that the time zone was cst and est.... and that 15 minutes still remain. Your own rules Burnside....

[HeRetiK]

Just to make matters worse, this IPO caused a ridiculous crash of ASICMiner.

So not only did I miss out on a great opportunity, I lost a ton of money too.

I'm down a few grand. If I had 10x as many shares in Asicminer I'd probably have punched a wall for not selling out before the crash.

Asicminer shares have been rather flakey lately in general, the below-average dividend and the upcoming IPOs sure didn't make matters better.

But look, it's climbing up again already, seems like everyone is taking their seats again

[matt4054]

That said, I don't think it would hurt terribly if Burnside opened the bidding up, for say 5 minutes, to people who had their coins in before the cutoff.

YES, maybe that would calm down some people like me from wanting to push MORE REGULATION on exchanges, like forcing them to delay the IPO when the contract was broken? ...

[limbaugh]

Hey,

I am still at work and I really expected to come home and place
a bid for whatever price, before the IPO started.
This morning you have stated we will have 12 hours left.
Just pulling the public offer and leaving everyone else behind is
a big punch in the face to everybody and has nothing to do with being fair.

I wish you would reconsider that decision and open the orderbook again so that everyone
can participate until tonight 8pm central time (so in about 4 hours).


Big bummer!

There was more than enough support to move forward. No reason to delay it any longer.

[VinceSamios]

That said, I don't think it would hurt terribly if Burnside opened the bidding up, for say 5 minutes, to people who had their coins in before the cutoff.

YES, maybe that would calm down some people like me from wanting to push MORE REGULATION on exchanges, like forcing them to delay the IPO when the contract was broken? ...

lol - simply by not following their own shutoff times.... um... yeah... 14 minutes left... bidding locked...

[boyohi]

Just to make matters worse, this IPO caused a ridiculous crash of ASICMiner.

So not only did I miss out on a great opportunity, I lost a ton of money too.

I'm down a few grand. If I had 10x as many shares in Asicminer I'd probably have punched a wall for not selling out before the crash.

Only because I think that the speculation in ASICMINER share price drop probably is wrong I will point out that there have been several thread on bitcointalk, reddit and elsewhere reporting that share holders are dissatisfied with the latest dividend payment. I doubt a single IPO of 7k BTC could really affect a security of ASICMINER's value (100x+ current LABCOIN Ipo value if I am not mistaken)

You made the IPO to lower the price of Asicminer so you can buy them at cheap price /conspiracy

[limbaugh]

That said, I don't think it would hurt terribly if Burnside opened the bidding up, for say 5 minutes, to people who had their coins in before the cutoff.

YES, maybe that would calm down some people like me from wanting to push MORE REGULATION on exchanges, like forcing them to delay the IPO when the contract was broken? ...

lol - simply by not following their own shutoff times.... um... yeah... 14 minutes left... bidding locked...

East coast is EST - deal with it.

[HeRetiK]

Just to make matters worse, this IPO caused a ridiculous crash of ASICMiner.

So not only did I miss out on a great opportunity, I lost a ton of money too.

I'm down a few grand. If I had 10x as many shares in Asicminer I'd probably have punched a wall for not selling out before the crash.

Only because I think that the speculation in ASICMINER share price drop probably is wrong I will point out that there have been several thread on bitcointalk, reddit and elsewhere reporting that share holders are dissatisfied with the latest dividend payment. I doubt a single IPO of 7k BTC could really affect a security of ASICMINER's value (100x+ current LABCOIN Ipo value if I am not mistaken)

You made the IPO to lower the price of Asicminer so you can buy them at cheap price /conspiracy

using the BTC collected during the IPO

[dwdoc]

There are currently 18,704,499 bids for shares listed at or above .001. Did all of those come in before the IPO was locked? If so does that mean
bidders get 37% of shares they bid for (7/18.7)?

[wiak2]

That said, I don't think it would hurt terribly if Burnside opened the bidding up, for say 5 minutes, to people who had their coins in before the cutoff.

YES, maybe that would calm down some people like me from wanting to push MORE REGULATION on exchanges, like forcing them to delay the IPO when the contract was broken? ...

lol - simply by not following their own shutoff times.... um... yeah... 14 minutes left... bidding locked...

East coast is EST - deal with it.

It is 3:48 EST.  The bidding should still be open.  Just that simple.

[foxykah]

Just to make matters worse, this IPO caused a ridiculous crash of ASICMiner.

So not only did I miss out on a great opportunity, I lost a ton of money too.

I'm down a few grand. If I had 10x as many shares in Asicminer I'd probably have punched a wall for not selling out before the crash.

Only because I think that the speculation in ASICMINER share price drop probably is wrong I will point out that there have been several thread on bitcointalk, reddit and elsewhere reporting that share holders are dissatisfied with the latest dividend payment. I doubt a single IPO of 7k BTC could really affect a security of ASICMINER's value (100x+ current LABCOIN Ipo value if I am not mistaken)

You made the IPO to lower the price of Asicminer so you can buy them at cheap price /conspiracy

using the BTC collected during the IPO

he is just pure genius. 

[burnside]

UPDATE FINAL:

(Ethan Burnside) Hi all, I'm posting this somewhat blind.  (haven't caught up with the last 10 or so pages...)

TheSwede75 and I have talked a bit and here's what we've come up with:

- 3 PM CST/4 PM EST is the cutoff for bidding.  (EDITED!)

Burnside, you really should honor the time you put, even if it was a mistake.

I apologize for the confusion around EST/EDT.  It is too late to fix/change it.  Unfortunately those of us in north america almost always refer to the zones as PST/CST/EST/etc regardless of daylight savings.  It's a name for the time in the area year round, regardless of the technicality around DST.

[boyohi]

Just to make matters worse, this IPO caused a ridiculous crash of ASICMiner.

So not only did I miss out on a great opportunity, I lost a ton of money too.

I'm down a few grand. If I had 10x as many shares in Asicminer I'd probably have punched a wall for not selling out before the crash.

Only because I think that the speculation in ASICMINER share price drop probably is wrong I will point out that there have been several thread on bitcointalk, reddit and elsewhere reporting that share holders are dissatisfied with the latest dividend payment. I doubt a single IPO of 7k BTC could really affect a security of ASICMINER's value (100x+ current LABCOIN Ipo value if I am not mistaken)

You made the IPO to lower the price of Asicminer so you can buy them at cheap price /conspiracy

using the BTC collected during the IPO

Yes yes its the perfect crime

[mgio]

That said, I don't think it would hurt terribly if Burnside opened the bidding up, for say 5 minutes, to people who had their coins in before the cutoff.

YES, maybe that would calm down some people like me from wanting to push MORE REGULATION on exchanges, like forcing them to delay the IPO when the contract was broken? ...

lol - simply by not following their own shutoff times.... um... yeah... 14 minutes left... bidding locked...

East coast is EST - deal with it.

I think that half of Indiana is the only place currently on EST and there it is actually 3:50pm right now!