boyohi
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August 03, 2013, 07:55:58 PM |
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Sam, Thank you for updating everyone. Let's chat today about what we can/should do as far as the 'Founder shares' and present a 'solution' Monday.
- Update contract to not allow the 3M shares to be sold until a certain amount of time has pass.
- Have Burnside lock those accounts until time mentioned in contract
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Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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Ytterbium
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August 03, 2013, 08:46:33 PM |
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Your point being?
"In the Real World rules suck, so we must make sure that rules here suck too?"
srsly?
"We" are not making rules, burnside is. If you don't like it you can start your own exchange and make up whatever rules you want. That's how the "free market" works.
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Lohoris
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August 03, 2013, 09:41:05 PM |
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Your point being?
"In the Real World rules suck, so we must make sure that rules here suck too?"
srsly?
"We" are not making rules, burnside is. If you don't like it you can start your own exchange and make up whatever rules you want. That's how the "free market" works. We are discussing, since we are in a forum. If you don't like to discuss, make up your own site with your own rules, maybe? Free market FTW.
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kingcrimson
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August 03, 2013, 09:49:11 PM |
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I wish every thread wasn't taken up with someone whining.
It's unbelievable, and usually people with only a few hundred shares are the loudest and most attention-hogging.
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canth
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August 04, 2013, 01:11:39 AM |
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The real world would also see the price collapse rapidly like a Facebook IPO Then a year later you would get to the IPO Price XD http://www.theguardian.com/technology/2013/aug/03/facebook-stock-closes-ipoFacebook's resurgent stock has closed above its IPO price for the first time since the online social networking leader made its debut on Wall Street more than 14 months ago. The shares gained 56 cents to finish Friday's session at $38.05 (£25), the stock's highest closing price since ending its first day of trading at $38.23 in May of last year. CLASSIC it took me a year I waited and waited I was so proud of My IPO and I made 5 cents At least you had a steady enough hand to see it through for a year. I'm sure there were plenty that sold when it dipped below $20 and regret that now. It's like the people that sold out of stocks at the bottom of the plunge in 2008-2009 and stayed out. Since they missed out on the 4 year rises of over 100%, it'll be unlikely that their portfolio will ever significantly recover. Always better to be steady and stick with investment plans when there's a strong underlying value in the investment.
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freedomno1
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Learning the troll avoidance button :)
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August 04, 2013, 01:29:49 AM Last edit: August 04, 2013, 02:43:11 AM by freedomno1 |
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The real world would also see the price collapse rapidly like a Facebook IPO Then a year later you would get to the IPO Price XD http://www.theguardian.com/technology/2013/aug/03/facebook-stock-closes-ipoFacebook's resurgent stock has closed above its IPO price for the first time since the online social networking leader made its debut on Wall Street more than 14 months ago. The shares gained 56 cents to finish Friday's session at $38.05 (£25), the stock's highest closing price since ending its first day of trading at $38.23 in May of last year. CLASSIC it took me a year I waited and waited I was so proud of My IPO and I made 5 cents At least you had a steady enough hand to see it through for a year. I'm sure there were plenty that sold when it dipped below $20 and regret that now. It's like the people that sold out of stocks at the bottom of the plunge in 2008-2009 and stayed out. Since they missed out on the 4 year rises of over 100%, it'll be unlikely that their portfolio will ever significantly recover. Always better to be steady and stick with investment plans when there's a strong underlying value in the investment. True to be honest however a bitcoin investment would have done much better over the same period, I guess it depends on what your time line is and what prices you target but you are correct a hold and leave alone or the option to buy at a lower base are not bad strategies as long as the company in question is not in jeopardy. For example the people who bought bitcoin at 250 dollars could wait a year to see if the market recovers and do nothing with the bitcoins they have but it would make more sense if you believe in your investment to hold it and reinvest than sell out now. The same logic applies to those that sell out early on bad news guess the markets are like that .
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Believing in Bitcoins and it's ability to change the world
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dadaguo
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August 04, 2013, 07:39:01 AM |
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Bingo! The shares should not have been rendered. What incentive does the company have to work at all if they can just sell all their own shares?
Come on, TAT. Plenty of companies have founders that are able to sell their shares. Larry and Sergey didn't cash everything out when Google IPO'd, did te Labcoin has been posting on the Mining forum for a while and they've got a strong incentive to make more money off of the appreciation of their shares than to sell now. Though I don't think the Labcoin team are quite comparing themselves to Google ( Yet ) this is the way they see it. That said, I will talk to Sam about some form of solution that allows for more transparency when it comes to the Founder shares. I have a question for the Labcoin team which many others probably would like the answer to as well. What are is the first year's forecast profit range? Can we have at least an indication on how much these shares could be worth so that we resist pressure to sell? We did not sell any part of our stake in the company and we are open to audits on the account where founder shares are stored. It's very likely that share price will rise in the near future, as we bring online our mining farm. It's kind of hard to make forecasts about the first year profit as there are still too many unknow variables, for now we're focusing on bringing gradually our first 30-50 Terahash/s online, we plan to complete this goal within October 2013. Chip batches and finished mining Hardware sales will follow shortly. But you shoud do something to protect or make your shareholders to believe that invest your company is good,can make some profit in the near futhuer
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GIANNAT
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Bitcoin entrepreneur and Pro Trader
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August 04, 2013, 07:55:20 AM |
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Is LABCOIN planning to sell batch of chips like Avalon did?
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oxideNL
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August 04, 2013, 07:36:07 PM Last edit: August 04, 2013, 08:34:43 PM by oxideNL |
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I just think its cute how when some people miss out on the boat instead of just accepting reality and making the proper move they try to spoil the fun for the other people who got to benefit, We call these people Party Poopers
I remember when I found out about AsicMiner the price was about 1.8 and I was so pissed that I was on the forums but not the securities section and didnt get a chance to purchase at the IPO of .1
Instead of crying I manned up and pulled out a whole shitton of cold storage coins and made gigantic bets at those levels and came out fairly on top considering that its doubled from 1.8 and I put in a big 6 figure number,
Perhaps we believe in different methods of attaining wealth, some believe that someone has to be negatively affected in order for you to benefit while I believe in the opposite, I enjoy taking large positions and then having others take the same position in sound investments so that we can grow together, Maybe its cause I believe in karma and philanthropy but it just makes you look like an arrogant person who gets emotional in a game where you need to be Emotionless.
Whatever do what you guys want to do all I can say is that it makes you look bad
Exactly. Your the kind of trader i like *misinterpreted joke, which wasn't that good anyhow
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ajk
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August 04, 2013, 08:20:02 PM |
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Lol. I appreciate you agreeing with me however your opinion goes valueless when you put a numeric value on it..
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Vigil
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August 04, 2013, 11:33:58 PM |
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Who is the a-hole over at BTC-TC who keeps shorting Labcoin? Someone is just dumping their shares and drove the price all the way down to .0016X. Ridiculous.
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matuszed
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August 04, 2013, 11:35:15 PM |
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Who is the a-hole over at BTC-TC who keeps shorting Labcoin? Someone is just dumping their shares and drove the price all the way down to .0016X. Ridiculous.
Quick people still cashing out. I'll buy into this alll DAYYYY
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"Markets can remain irrational longer than you can remain solvent." -Keynes
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Vigil
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August 04, 2013, 11:37:07 PM |
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Who is the a-hole over at BTC-TC who keeps shorting Labcoin? Someone is just dumping their shares and drove the price all the way down to .0016X. Ridiculous.
Quick people still cashing out. I'll buy into this alll DAYYYY Would be nice - I'm averaged at .0018 but they dumped so quick I couldn't break even after many gains. Guess I could transfer some funds and buy-up some more cheap. But don't want to have everything tied-up.
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Lohoris
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August 04, 2013, 11:59:38 PM |
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Who is the a-hole over at BTC-TC who keeps shorting Labcoin? Someone is just dumping their shares and drove the price all the way down to .0016X. Ridiculous.
If someone wants to sell, he sells, and the value goes down. If someone wants to sell but for some reason can't (people like you preventing him to do that with your magic a-hole power makeup), the price is inflated and doesn't reflect the real market value. And fun thing is that if people for some reason couldn't sell their shares, those shares' value would be approximating 0, so it would be even lower than your desired inflated value.
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Lohoris
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August 05, 2013, 12:00:41 AM |
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Who is the a-hole over at BTC-TC who keeps shorting Labcoin? Someone is just dumping their shares and drove the price all the way down to .0016X. Ridiculous.
Quick people still cashing out. I'll buy into this alll DAYYYY Would be nice - I'm averaged at .0018 but they dumped so quick I couldn't break even after many gains. Guess I could transfer some funds and buy-up some more cheap. But don't want to have everything tied-up. Double fun! So, you are complaining people are selling, but you aren't buying. srsly?
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Vigil
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August 05, 2013, 12:29:53 AM |
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Who is the a-hole over at BTC-TC who keeps shorting Labcoin? Someone is just dumping their shares and drove the price all the way down to .0016X. Ridiculous.
If someone wants to sell, he sells, and the value goes down. If someone wants to sell but for some reason can't (people like you preventing him to do that with your magic a-hole power makeup), the price is inflated and doesn't reflect the real market value. And fun thing is that if people for some reason couldn't sell their shares, those shares' value would be approximating 0, so it would be even lower than your desired inflated value. They can sell them, people were willing to buy them higher than what they were sold for - hence, "Shorting". They were driving the price down, not simply selling shares to the highest bidder. I'm not buying because I don't have anything free to buy because they drove the price down so quickly.
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freedomno1
Legendary
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Activity: 1806
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Learning the troll avoidance button :)
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August 05, 2013, 12:37:39 AM |
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Its actually kind of funny that the sell wall has a good 150 Bitcoin and the buy wall to 0.1887 has 40
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Believing in Bitcoins and it's ability to change the world
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Vigil
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August 05, 2013, 12:59:02 AM |
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Its actually kind of funny that the sell wall has a good 150 Bitcoin and the buy wall to 0.1887 has 40
This was earlier today I am talking about. Edit: just now, there are buy orders at 1611 and someone is selling thousands of shares at 1600 and 1500 - about 100,000 shares. 2:06 (S) 425 @ 0.00151700 LABCOIN 02:06 (B) 70 @ 0.00161600 LABCOIN 02:05 (S) 7 @ 0.01507000 BTCGARDEN 02:03 (S) 2351 @ 0.00151600 LABCOIN 02:03 (S) 10000 @ 0.00151700 LABCOIN 02:03 (S) 2060 @ 0.00151800 LABCOIN 02:03 (S) 1323 @ 0.00152800 LABCOIN 02:03 (S) 1000 @ 0.00155000 LABCOIN 02:03 (S) 50 @ 0.00156000 LABCOIN 02:03 (S) 235 @ 0.00156200 LABCOIN 02:02 (S) 1000 @ 0.00160000 LABCOIN 02:01 (S) 9000 @ 0.00160000 LABCOIN 02:01 (S) 1000 @ 0.00160000 LABCOIN 02:01 (S) 10000 @ 0.00160000 LABCOIN 02:01 (S) 1184 @ 0.00160100 LABCOIN 02:01 (S) 58816 @ 0.00160100 LABCOIN 02:01 (S) 1184 @ 0.00160500 LABCOIN 02:00 (S) 4905 @ 0.00160500 LABCOIN 02:00 (S) 835 @ 0.00160600 LABCOIN 02:00 (S) 150 @ 0.00160700 LABCOIN 02:00 (S) 2216 @ 0.00160900 LABCOIN 02:00 (S) 1894 @ 0.00161100 LABCOIN
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matuszed
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August 05, 2013, 01:07:53 AM |
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Its actually kind of funny that the sell wall has a good 150 Bitcoin and the buy wall to 0.1887 has 40
This was earlier today I am talking about. Edit: just now, there are buy orders at 1611 and someone is selling thousands of shares at 1600 and 1500 - about 100,000 shares. 2:06 (S) 425 @ 0.00151700 LABCOIN 02:06 (B) 70 @ 0.00161600 LABCOIN 02:05 (S) 7 @ 0.01507000 BTCGARDEN 02:03 (S) 2351 @ 0.00151600 LABCOIN 02:03 (S) 10000 @ 0.00151700 LABCOIN 02:03 (S) 2060 @ 0.00151800 LABCOIN 02:03 (S) 1323 @ 0.00152800 LABCOIN 02:03 (S) 1000 @ 0.00155000 LABCOIN 02:03 (S) 50 @ 0.00156000 LABCOIN 02:03 (S) 235 @ 0.00156200 LABCOIN 02:02 (S) 1000 @ 0.00160000 LABCOIN 02:01 (S) 9000 @ 0.00160000 LABCOIN 02:01 (S) 1000 @ 0.00160000 LABCOIN 02:01 (S) 10000 @ 0.00160000 LABCOIN 02:01 (S) 1184 @ 0.00160100 LABCOIN 02:01 (S) 58816 @ 0.00160100 LABCOIN 02:01 (S) 1184 @ 0.00160500 LABCOIN 02:00 (S) 4905 @ 0.00160500 LABCOIN 02:00 (S) 835 @ 0.00160600 LABCOIN 02:00 (S) 150 @ 0.00160700 LABCOIN 02:00 (S) 2216 @ 0.00160900 LABCOIN 02:00 (S) 1894 @ 0.00161100 LABCOIN That's some I don't give a fuck get me out kinda liquidity hes taking
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"Markets can remain irrational longer than you can remain solvent." -Keynes
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stoasis
Newbie
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Activity: 22
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August 05, 2013, 01:11:31 AM |
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Its actually kind of funny that the sell wall has a good 150 Bitcoin and the buy wall to 0.1887 has 40
This was earlier today I am talking about. Edit: just now, there are buy orders at 1611 and someone is selling thousands of shares at 1600 and 1500 - about 100,000 shares. 2:06 (S) 425 @ 0.00151700 LABCOIN 02:06 (B) 70 @ 0.00161600 LABCOIN 02:05 (S) 7 @ 0.01507000 BTCGARDEN 02:03 (S) 2351 @ 0.00151600 LABCOIN 02:03 (S) 10000 @ 0.00151700 LABCOIN 02:03 (S) 2060 @ 0.00151800 LABCOIN 02:03 (S) 1323 @ 0.00152800 LABCOIN 02:03 (S) 1000 @ 0.00155000 LABCOIN 02:03 (S) 50 @ 0.00156000 LABCOIN 02:03 (S) 235 @ 0.00156200 LABCOIN 02:02 (S) 1000 @ 0.00160000 LABCOIN 02:01 (S) 9000 @ 0.00160000 LABCOIN 02:01 (S) 1000 @ 0.00160000 LABCOIN 02:01 (S) 10000 @ 0.00160000 LABCOIN 02:01 (S) 1184 @ 0.00160100 LABCOIN 02:01 (S) 58816 @ 0.00160100 LABCOIN 02:01 (S) 1184 @ 0.00160500 LABCOIN 02:00 (S) 4905 @ 0.00160500 LABCOIN 02:00 (S) 835 @ 0.00160600 LABCOIN 02:00 (S) 150 @ 0.00160700 LABCOIN 02:00 (S) 2216 @ 0.00160900 LABCOIN 02:00 (S) 1894 @ 0.00161100 LABCOIN That's some I don't give a fuck get me out kinda liquidity hes taking guilty here, There is to much insecurities on the ASICS front. Descided the risk weren't worth the potential gains. Leaving with a small profit is still beter than nothing.
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