twentyseventy
Legendary
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Activity: 1386
Merit: 1000
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August 12, 2013, 11:53:33 AM |
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That's a huge amount of capital about to be on the market again. I definitely expect a big jump for LC, and if expect AM and probably ActM to get a significant boost.
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Even in the event that an attacker gains more than 50% of the network's
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reversed or double-spent. The network would not be destroyed.
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richard_dein
Member
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Activity: 63
Merit: 10
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August 12, 2013, 12:40:16 PM |
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There's still something unsolved: has burnside heard from LABCOIN about locking shares?
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redbeans2012
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August 12, 2013, 12:44:45 PM |
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There's still something unsolved: has burnside heard from LABCOIN about locking shares?
I've asked TheSwede to elaborate on this, he seems to be silent in this thread for the last few days for some reason. |
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merv77
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August 12, 2013, 01:03:20 PM |
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This BTCGARDEN shut down by Chinese police isn't a joke even if your address is in Hong Kong.  Are Labcoin aware of this..? What if they got a visit from the Police (to shut down)..? What then..? Labcoin have to READ THIS and READ THIS and get back to us. |
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joele
Legendary
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Activity: 1022
Merit: 1000
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August 12, 2013, 01:07:47 PM |
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There's still something unsolved: has burnside heard from LABCOIN about locking shares?
I've asked TheSwede to elaborate on this, he seems to be silent in this thread for the last few days for some reason. Mmm.. labcoin may follow btcgarden?, I hope this is not the biggest organized scam of the year. |
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oxideNL
Member
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Activity: 82
Merit: 10
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August 12, 2013, 01:11:45 PM |
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There's still something unsolved: has burnside heard from LABCOIN about locking shares?
And not to forget, The supposedly team members who were in the process of getting validated on Bitcointalk. Somehow.. their validation process is taking ages! Just post 6 or 8 posts in the newbie forum.. And the sudden silence of swede75 isn't helping either. |
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twentyseventy
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Activity: 1386
Merit: 1000
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August 12, 2013, 01:12:26 PM |
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I highly doubt that LC would follow BTCGarden - they've invested a lot of time and effort into this for the past few months. Plus, they're on a much smaller scale - they raised about $700,000 while BTCGarden raised over $3 Million - this attracts much more attention. Also, LC isn't going to be intimidated by one guy making threats on the internet - hah!  |
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joele
Legendary
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Activity: 1022
Merit: 1000
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August 12, 2013, 01:20:54 PM |
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I highly doubt that LC would follow BTCGarden - they've invested a lot of time and effort into this for the past few months. Plus, they're on a much smaller scale - they raised about $700,000 while BTCGarden raised over $3 Million - this attracts much more attention. Also, LC isn't going to be intimidated by one guy making threats on the internet - hah! BTCGarden has their own bitcoin exchanger site reputation and other bitcoin services. Labcoin is just written promises. |
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twentyseventy
Legendary
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Activity: 1386
Merit: 1000
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August 12, 2013, 01:24:04 PM |
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I highly doubt that LC would follow BTCGarden - they've invested a lot of time and effort into this for the past few months. Plus, they're on a much smaller scale - they raised about $700,000 while BTCGarden raised over $3 Million - this attracts much more attention. Also, LC isn't going to be intimidated by one guy making threats on the internet - hah! BTCGarden has their own bitcoin exchanger site reputation and other bitcoin services. Labcoin is just written promises. I'm not saying that BTCGarden hasn't done well with their current enterprises - they definitely have. I actually was interested to see what they'd be capable of in the mining space. However, the whole story seems very fishy. I'm glad that all the investors will be getting their money back (for the most part), but it's hard to believe that BTCGarden didn't consider that someone might be angry with them / extort them / etc. This is 30K BTC, worth millions of USD, that we're talking about. |
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redbeans2012
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August 12, 2013, 01:35:35 PM |
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I'm out of this one till i get some good news. Want to believe but don't like akward silence.  |
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canth
Legendary
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Activity: 1442
Merit: 1001
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August 12, 2013, 01:51:09 PM |
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I'm out of this one till i get some good news. Want to believe but don't like akward silence. If they wanted to steal our coins, they wouldn't have put out any kind of notice or reached out to Burnside. I'm confident that it'll work out ok. |
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kokojie
Legendary
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Activity: 1806
Merit: 1003
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August 12, 2013, 02:03:25 PM |
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I highly doubt that LC would follow BTCGarden - they've invested a lot of time and effort into this for the past few months. Plus, they're on a much smaller scale - they raised about $700,000 while BTCGarden raised over $3 Million - this attracts much more attention. Also, LC isn't going to be intimidated by one guy making threats on the internet - hah! BTCGarden has their own bitcoin exchanger site reputation and other bitcoin services. Labcoin is just written promises. I'm not saying that BTCGarden hasn't done well with their current enterprises - they definitely have. I actually was interested to see what they'd be capable of in the mining space. However, the whole story seems very fishy. I'm glad that all the investors will be getting their money back (for the most part), but it's hard to believe that BTCGarden didn't consider that someone might be angry with them / extort them / etc. This is 30K BTC, worth millions of USD, that we're talking about. The problem with btcgarden is that they are very well funded already, their IPO is simply for future expansion purpose. They do not want to take ANY risk if the IPO cause them trouble. The slightest sign of trouble would cause them to pull out, since they don't really need money urgently. |
btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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E.Sam
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August 12, 2013, 02:55:20 PM |
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I'm out of this one till i get some good news. Want to believe but don't like akward silence. If they wanted to steal our coins, they wouldn't have put out any kind of notice or reached out to Burnside. I'm confident that it'll work out ok. Looks more like Burnside is trying to reach them https://bitcointalk.org/index.php?topic=263445.msg2896819#msg2896819I suppose he's not the only one... 4 days and not a single word. I m not trying to imply that they are fraudsters, but such lack of communication in such uncertain time is a bit baffling. |
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auto2nr1
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August 12, 2013, 03:54:51 PM |
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the 3 million shares should either not be tradeable on BTCT until a certain amount of time
OR the shares should be marked/colored in a way so that people know that they are buying the team's shares. this would also indicate for everyone to panic - heh
I agree, there's a reason there's a IPO "lock up" period for insiders in real world IPO. Especially when labcoin is going against the norm on btct (insider shares are not normally tradable) I would like to point out that the 'Lock in' period for founders/insiders is one of those 'sometimes there is one, sometimes not'. I can also say that the Labcoin team didn't even consider this in the IPO process due to no one being interested in selling out shares in the project. That said, I will talk to Sam this weekend to see about a public solution that will allow share holders to feel secure in that the Labcoin founders and developers are not selling out. Two ways this can be addressed on BTCT. - The founders could turn on their public portfolios and publish a list of url's where the shares are held. - (with Labcoin's consent) if they send us a list of accounts that are holding the shares we can lock the accounts and publicly state the number of shares effectively "in escrow". I just need a list of accounts to lock. (feel free to PM or email me.) Cheers. Can anyone from Labcoin hurry up and address this issue? |
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superduh
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August 12, 2013, 04:01:53 PM |
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4 days silence. wow!
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drawingthesun
Legendary
Offline
Activity: 1176
Merit: 1015
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August 12, 2013, 04:12:22 PM |
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4 days silence. wow!
Bitcoin is an interesting world indeed. Even if there is nothing wrong or scammy going on, why would buying power increase with increased uncertainty? |
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Moebius327
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August 12, 2013, 04:14:23 PM |
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4 days silence. wow!
Bitcoin is an interesting world indeed. Even if there is nothing wrong or scammy going on, why would buying power increase with increased uncertainty? Because people think that 32k bitcoin btcgarden refunds will make the price skyrocket. |
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blackswan
Member
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Activity: 82
Merit: 10
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August 12, 2013, 04:15:00 PM |
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4 days silence. wow!
Bitcoin is an interesting world indeed. Even if there is nothing wrong or scammy going on, why would buying power increase with increased uncertainty? Most likely people buying into Labcoin simply because they anticipate the price of shares to jump when the refund from BTCGarden is paid out and those people move some of their coins into Labcoin. |
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drawingthesun
Legendary
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Activity: 1176
Merit: 1015
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August 12, 2013, 04:17:21 PM |
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Because people think that 32k bitcoin btcgarden refunds will make the price skyrocket.
So btcgarden made the IPO sale of 32k originally? Last I saw shares were being sold below IPO signalling they were not selling a lot. I don't think they will be refunding that much Bitcoin. I could be wrong. |
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LordMeowMeow
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August 12, 2013, 04:17:31 PM |
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Just sold my 40k shares. I'm out until we get some clear news here about the locked accounts and the technical specs which VBS called them out on. They haven't replied since. In the meantime I sent 2 PMs to TheSwede with no replies but he has time to shop for a Rolex on the forum for his "friend": https://bitcointalk.org/index.php?topic=271657.msg2909210#msg2909210 |
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