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

[maxmint]

So when will this be unlocked and opened up for trading?

[1714146595]

1714146595

[1714146595]

1714146595

[1714146595]

1714146595

[Moebius327]

So when will this be unlocked and opened up for trading?

In 2 hours 50 mins. 1 AM UTC

[limbaugh]

So are we good, number of shares are correct?

[canth]

All this clamoring for IPO shares is starting to look like a bubble. Lets please not have our own version of Pets.com.

Pets.com took 2 years to form, bubble and crash in flames. The differnce is that in bitlandia, this happens in 2 months - no waiting around!

[matt4054]

I always remind myself that btct is currently in beta so problems and gremlins happen.

Then you realise people responsible for them have the power to delay the IPO, in order to make things more fair.

But then they reply "sorry guys, we screwed up and you are just collateral damage. better luck next time."

And then you read "why the hate"...

...and then?

[piecinitup]

So when will this be unlocked and opened up for trading?

2 Hours and 49 Min

[dwdoc]

So when will this be unlocked and opened up for trading?

8PM Central Standard Time USA

EDIT: 8PM Central Daylight Time USA

http://www.thetimenow.com/cdt/central_daylight_time

[Exocyst]

It just goes to show you can't make everyone happy, but you can make someone happy: Looks like about 40% of my order will get filled judging from the btct.co "My Orders" tab.

[VinceSamios]

So when will this be unlocked and opened up for trading?

8PM Central Standard Time USA

LOL - actually no... not CST - just Burnsides own interpretation of CST.... Which closely resembles CDT

[Mikex]

Just accidentally canceled my order. Feels good  

Doh, do it again please.  It's probably back now.  

I was trying to be lenient with the people "accidentally" canceling their orders via the quantity edit feature.

 

 

So what happened is I made anorher order without enough BTC on the account. The Labcoin order was canceled. Then burnside restores my order. Now I got a few Asicminer shares, my Labcoin order back and a negative balance. Then I sold the Asicminer shares to get my balance back to positive. Now apparently the software checks your balance also when you are selling... So I had negative balance and pending Labcoin order when selling Asicminer shares. And my order gets canceled again. Hard to believe that just happened. Again, feels good  

[foxykah]

So when will this be unlocked and opened up for trading?

8PM Central Standard Time USA

LOL - actually no... not CST - just Burnsides own interpretation of CST.... Which closely resembles CDT

I remember you told us you were going to sleep. Seems like you didnt. Shame. That was a bad move.

[Vigil]

The only people who got screwed were the ones who had their investments ready to go yesterday and then wake up to this scheme that shares are going to be done through a percentage after all the latecomers transfer their hoard of BTC to dilute the shares.

Essentially making this IPO favor those with huge stashes of coin even if they had no intention of making a large investment. Rather than the 1000 shares I planned on, I will get around 400, if I am lucky. But I have the BTC to buy 1000 shares - I am just not allowed to purchase them becuase my stash of BTC isn't large enough. Had people known about this retardation, they would have transfered more BTC before all of you Johnny-come-latelys bum-rushed the echange with huge influxes of coin to steal away shares.

IPOs are usually closed deals, people register before hand and no one else can bid. You don't feel bad for everyone who was unaware of the IPO and jumped in at the last minute altering the rules to give them a chance. I had everything set to go because I knew I wouldn't have access to a computer during the launch.

[freedomno1]

Just accidentally canceled my order. Feels good  

Doh, do it again please.  It's probably back now.  

I was trying to be lenient with the people "accidentally" canceling their orders via the quantity edit feature.

 

 

So what happened is I made anorher order without enough BTC on the account. The Labcoin order was canceled. Then burnside restores my order. Now I got a few Asicminer shares, my Labcoin order back and a negative balance. Then I sold the Asicminer shares to get my balance back to positive. Now apparently the software checks your balance also when you are selling... So I had negative balance and pending Labcoin order when selling Asicminer shares. And my order gets canceled again. Hard to believe that just happened. Again, feels good  

I would be so confused that happened to me once when Tat.asicminer had the double dividend error ^^

[piecinitup]

The only people who got screwed were the ones who had their investments ready to go yesterday and then wake up to this scheme that shares are going to be done through a percentage after all the latecomers transfer their hoard of BTC to dilute the shares.

Essentially making this IPO favor those with huge stashes of coin even if they had no intention of making a large investment. Rather than the 1000 shares I planned on, I will get around 400, if I am lucky. But I have the BTC to buy 1000 shares - I am just not allowed to purchase them becuase my stash of BTC isn't large enough. Had people known about this retardation, they would have transfered more BTC before all of you Johnny-come-latelys bum-rushed the echange with huge influxes of coin to steal away shares.

IPOs are usually closed deals, people register before hand and no one else can bid. You don't feel bad for everyone who was unaware of the IPO and jumped in at the last minute altering the rules to give them a chance. I had everything set to go because I knew I wouldn't have access to a computer during the launch.

You obviously don't realize what the price per share would have been if it was actually launched the way you expected it to be launched.  Hang out and wait for trading to begin and buy quickly.

[foxykah]

To all of those, whose remaining BTC is still locked: Go to "Wallet", then click refresh next to your balance. Did the trick for me

[dwdoc]

The only people who got screwed were the ones who had their investments ready to go yesterday and then wake up to this scheme that shares are going to be done through a percentage after all the latecomers transfer their hoard of BTC to dilute the shares.

Essentially making this IPO favor those with huge stashes of coin even if they had no intention of making a large investment. Rather than the 1000 shares I planned on, I will get around 400, if I am lucky. But I have the BTC to buy 1000 shares - I am just not allowed to purchase them becuase my stash of BTC isn't large enough. Had people known about this retardation, they would have transfered more BTC before all of you Johnny-come-latelys bum-rushed the echange with huge influxes of coin to steal away shares.

IPOs are usually closed deals, people register before hand and no one else can bid. You don't feel bad for everyone who was unaware of the IPO and jumped in at the last minute altering the rules to give them a chance. I had everything set to go because I knew I wouldn't have access to a computer during the launch.

In the real world of IPO's it is common for registered buyers including institutional investors to get less shares than they want.

[mrtg]

So what happened is I made anorher order without enough BTC on the account. The Labcoin order was canceled. Then burnside restores my order. Now I got a few Asicminer shares, my Labcoin order back and a negative balance. Then I sold the Asicminer shares to get my balance back to positive. Now apparently the software checks your balance also when you are selling... So I had negative balance and pending Labcoin order when selling Asicminer shares. And my order gets canceled again. Hard to believe that just happened. Again, feels good  

Uh... this is funny, in a f-ed up way -- I had pretty much the same thing happening: after getting hit with glitches left and right, finally manage to place an order, only to have it cancelled by mistake -- d'oh!... I even got three "order cancelled" emails and tried to write to support for a fix, but so far no go... I now have a positive balance with what should be enough funds; so what gives? Oh, the suspense! But it's all good, all good, it's been a fun day. Burnside, any chance for a resolution here?

[physalis]

In the real world of IPO's it is common for registered buyers including institutional investors to get less shares than they want.

Exactly. People who are criticizing here should really get this in their head.
The way burnside did it is exactly the way it works on every fucking real world IPO where demand exceeds supply.
It's the most fair way to solve the problem. It's definitely way better than to hold an auction, which would just create ridiculous bubble behaviour before the stock is even live.

That is just about the general approach though. The timezone fuck up (sorry, there's really no better way to describe it) and the deposit overload were unfortunate, of course. Let's just hope this doesn't happen anymore in the future.

[redbeans2012]

To all of those, whose remaining BTC is still locked: Go to "Wallet", then click refresh next to your balance. Did the trick for me

Thanks pal!

[Ytterbium]

8PM Central Standard Time USA

I believe it will be Central DAYLIGHT time.