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

[drawingthesun]

Can I ask a question here because I don't want to wade through a million pages to find the answer.

Does Labcoin actually have a chip? Even a prototype?

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[Ytterbium]

Can I ask a question here because I don't want to wade through a million pages to find the answer.

Does Labcoin actually have a chip? Even a prototype?

*sigh*

You can't actually order just a handful of "prototype" chips.  You typically need to order them by the wafer, so you get thousands of chips, minimum.

The way you design chips, you simulate them.  If the simulations work, then you order them. If you want you can do a small order first and test everything.

Labcoin has a small order in for a few thousand chips and once they come in they should have around 50Th.

[Vbs]

lol, nicely played amigo!  

If only LAGCOIN's steampunk "technology" were as laudable as your sense of humor...  

It's possible that HF's chips will cost less to HF then Labcoin's chips will cost to labcoin.  But that doesn't mean that HF's customers will be better off then Labcoin's investors.

Think about it dude: IceDrill is paying $14/GH.  Labcoin will be paying about $2/gh if everything goes according to plan.

That means, Labcoin's investors will have a much better chance of making a profit then IceDrill's.

It doesn't matter how efficient the chips are at this point, and it won't matter how efficient they are until electricity is the major cost factor, and chips go for like 10 cents per chip.

I'm just going to chime in on the topic of electricity. You can only say the electric cost is irrelevant when using a point of view of one guy buying some mining equipment to run at home.

Any industrial-size mining farm needs an industrial power delivery grid along with industrial-size cooling systems. This is not trivial to assemble and neither are the operational costs associated with it. Thinking otherwise is like saying anyone can build a proper datacenter in their backyard.

Driving a car and not the same as driving a truck with several trailers.

[szmarco]

lol, nicely played amigo!  

If only LAGCOIN's steampunk "technology" were as laudable as your sense of humor...  

It's possible that HF's chips will cost less to HF then Labcoin's chips will cost to labcoin.  But that doesn't mean that HF's customers will be better off then Labcoin's investors.

Think about it dude: IceDrill is paying $14/GH.  Labcoin will be paying about $2/gh if everything goes according to plan.

That means, Labcoin's investors will have a much better chance of making a profit then IceDrill's.

It doesn't matter how efficient the chips are at this point, and it won't matter how efficient they are until electricity is the major cost factor, and chips go for like 10 cents per chip.

I'm just going to chime in on the topic of electricity. You can only say the electric cost is irrelevant when using a point of view of one guy buying some mining equipment to run at home.

Any industrial-size mining farm needs an industrial power delivery grid along with industrial-size cooling systems. This is not trivial to assemble and neither are the operational costs associated with it. Thinking otherwise is like saying anyone can build a proper datacenter in their backyard.

Driving a car and not the same as driving a truck with several trailers.

+1
If the farm is in shenzhen.,the electrical price is much higher than other places.

[Bitcycle]

Didn't AsicMiner have trouble locating a data center with sufficient power?

[Bitcycle]

Like pretty much every other bitcoin stock, if these guys could communicate worth a damn, the stock would be worth twice as much.

In the real world, there are tons of restrictions on what higher ups are even allowed to say, especially when it comes to numbers and things like that, to prevent stock manipulation.

Basically what you're saying is that you want the directors to come on here and try to manipulate the share price higher.

Just fucking calm down and be patient.  If their chips work, they work.  If you're not comfortable waiting that long while holding the stock, then sell.

There job is getting the chips and getting them online and hashing, not trying to manage share price on a minute by minute basis.

Another thing I could do other than sell my shares is come to the place where they've promised to communicate and ask questions.  That's what I'll be doing, thanks.

They could comment today on the status of the locked founders shares.  There's absolutely no reason whatsoever for that issue to remain unresolved.  None.

[Ytterbium]

I'm just going to chime in on the topic of electricity. You can only say the electric cost is irrelevant when using a point of view of one guy buying some mining equipment to run at home.

Any industrial-size mining farm needs an industrial power delivery grid along with industrial-size cooling systems. This is not trivial to assemble and neither are the operational costs associated with it. Thinking otherwise is like saying anyone can build a proper datacenter in their backyard.

Driving a car and not the same as driving a truck with several trailers.

This is getting a little tedious.  Do the math or STFU.

How much, exactly, do you think will cost to power and cool these chip per month per GH?

Also, you don't need a "proper datacenter" to do bitcoin mining.  A real data center needs to be able to run a hetrogenious collection of equipment, and needs to keep tempratures low.  A bitcoin mine only needs to keep temperatures low enough for the chip to work, which means you may only need good ventilation to bring in (relatively) cool outside air and pump out hot air

Also, you don't need nearly as much bandwidth just enough to transfer block headers, and you don't need any hard drives or much storage at all.

[Ytterbium]

They could comment today on the status of the locked founders shares.  There's absolutely no reason whatsoever for that issue to remain unresolved.  None.

If you're not happy, then sell. That's the whole point of having an exchange.

I don't really understand why people are so nervous about this - if you don't trust them not to sell more then 25% of their shares, why would you trust them to accurately report how many chips they have, or how much they actually make from mining? Why would you trust them to actually pay dividends on bulk chip sales?

There are a million different ways these guys could run off with your money.  And right now it wouldn't even be possible for them to sell off more then 30% of their stake, as there aren't even enough buy orders. (Unless they want to sell for 1/100th the IPO price)

Seriously.  All you have to do is look at the order book and you can see they couldn't sell their shares if they wanted too.

If you don't trust them, you really shouldn't be holding this stock.

[HuLaN]

They could comment today on the status of the locked founders shares.  There's absolutely no reason whatsoever for that issue to remain unresolved.  None.

If you're not happy, then sell. That's the whole point of having an exchange.

I don't really understand why people are so nervous about this - if you don't trust them not to sell more then 25% of their shares, why would you trust them to accurately report how many chips they have, or how much they actually make from mining? Why would you trust them to actually pay dividends on bulk chip sales?

There are a million different ways these guys could run off with your money.  And right now it wouldn't even be possible for them to sell off more then 30% of their stake, as there aren't even enough buy orders. (Unless they want to sell for 1/100th the IPO price)

Seriously.  All you have to do is look at the order book and you can see they couldn't sell their shares if they wanted too.

If you don't trust them, you really shouldn't be holding this stock.

I doubt the guy is selling any Laboin, he probably don't even own any in the first place. It seems to me that the people who are nagging about the same irrelevant things over and over again, that has already been answered, are just here to try to spread some FUD in favour of competing stock "x".. Just like some of the guys heavily invested in ActM/Labcoin go the the Icedrill thread and demand answers and troll without having anything investing there.

[tucenaber]

They could comment today on the status of the locked founders shares.  There's absolutely no reason whatsoever for that issue to remain unresolved.  None.

If you're not happy, then sell. That's the whole point of having an exchange.

I don't really understand why people are so nervous about this - if you don't trust them not to sell more then 25% of their shares, why would you trust them to accurately report how many chips they have, or how much they actually make from mining? Why would you trust them to actually pay dividends on bulk chip sales?

There are a million different ways these guys could run off with your money.  And right now it wouldn't even be possible for them to sell off more then 30% of their stake, as there aren't even enough buy orders. (Unless they want to sell for 1/100th the IPO price)

Seriously.  All you have to do is look at the order book and you can see they couldn't sell their shares if they wanted too.

If you don't trust them, you really shouldn't be holding this stock.

I really don't understand that attitude. Sure it's not a scam, I don't believe that either. But one thing is crystal clear. They are proven liars. Or if you think that is too strong, they have shown that their word can not be trusted. In my opinion that is the same thing.

And we know that people who lie about small things tend to lie about big things. That TheSwede comes here once in a while to say that everything is peachy means nothing. He probably knows just about as much as we do. What matters, is what the Tatti/Noi couple says and does.

The potential in this company is big I think. If the management is any good. The risk as I see it, is them being an incompetent bunch of Yifus. And "small" things like this is a red flag.

Your are not helping.

[yuansuyi]

lol, nicely played amigo!  

If only LAGCOIN's steampunk "technology" were as laudable as your sense of humor...  

It's possible that HF's chips will cost less to HF then Labcoin's chips will cost to labcoin.  But that doesn't mean that HF's customers will be better off then Labcoin's investors.

Think about it dude: IceDrill is paying $14/GH.  Labcoin will be paying about $2/gh if everything goes according to plan.

That means, Labcoin's investors will have a much better chance of making a profit then IceDrill's.

It doesn't matter how efficient the chips are at this point, and it won't matter how efficient they are until electricity is the major cost factor, and chips go for like 10 cents per chip.

I'm just going to chime in on the topic of electricity. You can only say the electric cost is irrelevant when using a point of view of one guy buying some mining equipment to run at home.

Any industrial-size mining farm needs an industrial power delivery grid along with industrial-size cooling systems. This is not trivial to assemble and neither are the operational costs associated with it. Thinking otherwise is like saying anyone can build a proper datacenter in their backyard.

Driving a car and not the same as driving a truck with several trailers.

Again, on this topic.

There are plenty industrial-size factories with industrial-size power supply for rent in ShengZhen and other cities of China with cheap price.

It's wasteful to run mining farm in IDC. Only ASICME claim doing it, it's just a joke though.

[Ytterbium]

I really don't understand that attitude. Sure it's not a scam, I don't believe that either. But one thing is crystal clear. They are proven liars. Or if you think that is too strong, they have shown that their word can not be trusted. In my opinion that is the same thing.

If you think they are proven liars, then why the are you holding on to the stock?  

Sorry, this is the dumbest thing ever.  As I pointed out, they couldn't even sell the shares if they wanted too.   On the other hand, if the chips are real then all they would need to do to make extra money is lie about how many chips they have and keep the mining profits to themselves.

If they really were liars, why the fuck would they even need to sell their shares?

If they are dishonest, they can steal your money
If they are honest then they won't sell their shares.

However, even if they are dishonest they still can't sell more then 30% of their shares (10% of the total) because there aren't enough orders in place.

If you think they're liars, then sell your shares.

[iCEBREAKER]

It's possible that HF's chips will cost less to HF then Labcoin's chips will cost to labcoin.  But that doesn't mean that HF's customers will be better off then Labcoin's investors.

Think about it dude: IceDrill is paying $14/GH.  Labcoin will be paying about $2/GH if everything goes according to plan.

That means, Labcoin's investors will have a much better chance of making a profit then IceDrill's.

It doesn't matter how efficient the chips are at this point, and it won't matter how efficient they are until electricity is the major cost factor, and chips go for like 10 cents per chip.

This is one of the wisest posts I've read on the subject. You must either be heavily invested in Labcoin or you've studied really hard on this topic.

Expecting to get $2/GH with antediluvian "technology" from the stone age is wishful thinking, not wisdom.

Even if the optimistically assumed dirt cheap power materializes (doubtful because China loves air conditioning and gold/aluminium smelting as much as the next nation) there will be rolling brown/black outs, because Econ 101 proves you get what you pay for.

$2/GH is too good to be true.  Good luck to all you suckers expecting a free lunch from LAGCOIN.   

[merv77]

It's possible that HF's chips will cost less to HF then Labcoin's chips will cost to labcoin.  But that doesn't mean that HF's customers will be better off then Labcoin's investors.

Think about it dude: IceDrill is paying $14/GH.  Labcoin will be paying about $2/GH if everything goes according to plan.

That means, Labcoin's investors will have a much better chance of making a profit then IceDrill's.

It doesn't matter how efficient the chips are at this point, and it won't matter how efficient they are until electricity is the major cost factor, and chips go for like 10 cents per chip.

This is one of the wisest posts I've read on the subject. You must either be heavily invested in Labcoin or you've studied really hard on this topic.

Expecting to get $2/GH with antediluvian "technology" from the stone age is wishful thinking, not wisdom.

Even if the optimistically assumed dirt cheap power materializes (doubtful because China loves air conditioning and gold/aluminium smelting as much as the next nation) there will be rolling brown/black outs, because Econ 101 proves you get what you pay for.

$2/GH is too good to be true.  Good luck to all you suckers expecting a free lunch from LAGCOIN.   

have you even been to China...?  Or even ShengZhen or Ghangzhou..?
I was there few months ago and I was totally blown away.  Seriously.

Lots of people (including myself) think China is like third word country.. To my surprise now I think I live in the third world country (Australia) not the Chinese.
and it's not going to take China very long to be one of the most advanced counties in the world. 

[Ytterbium]

Expecting to get $2/GH with antediluvian "technology" from the stone age is wishful thinking, not wisdom.

Even if the optimistically assumed dirt cheap power materializes (doubtful because China loves air conditioning and gold/aluminium smelting as much as the next nation) there will be rolling brown/black outs, because Econ 101 proves you get what you pay for.

$2/GH is too good to be true.  Good luck to all you suckers expecting a free lunch from LAGCOIN.

Where's the math that shows $2/gh is too low? What exactly are the cost inputs you're calculating? You're not even calculating how much you think they'll pay for electricity. What is the actual electrical service level in Shenzhen, do you know?

You're just spouting total nonsense.  There's no math here whatsoever.

[redbeans2012]

Ice breaker is the first person i've ever ignored, but there really isn't any point to the ignore button if everyone else replies to the trolls. 

[tucenaber]

I really don't understand that attitude. Sure it's not a scam, I don't believe that either. But one thing is crystal clear. They are proven liars. Or if you think that is too strong, they have shown that their word can not be trusted. In my opinion that is the same thing.

If you think they are proven liars, then why the are you holding on to the stock?  

Sorry, this is the dumbest thing ever.  As I pointed out, they couldn't even sell the shares if they wanted too.   On the other hand, if the chips are real then all they would need to do to make extra money is lie about how many chips they have and keep the mining profits to themselves.

If they really were liars, why the fuck would they even need to sell their shares?

If they are dishonest, they can steal your money
If they are honest then they won't sell their shares.

However, even if they are dishonest they still can't sell more then 30% of their shares (10% of the total) because there aren't enough orders in place.

If you think they're liars, then sell your shares.

I am not saying that they are selling their shares. Three is no incentive. I am saying that they might cheat in the future if we keep your brush-it-aside attitude. I would like to have auditing too but fat chance of that happening if we can't even get the share issue resolved.

[iCEBREAKER]

Expecting to get $2/GH with antediluvian "technology" from the stone age is wishful thinking, not wisdom.

Even if the optimistically assumed dirt cheap power materializes (doubtful because China loves air conditioning and gold/aluminium smelting as much as the next nation) there will be rolling brown/black outs, because Econ 101 proves you get what you pay for.

$2/GH is too good to be true.  Good luck to all you suckers expecting a free lunch from LAGCOIN.

Where's the math that shows $2/gh is too low? What exactly are the cost inputs you're calculating? You're not even calculating how much you think they'll pay for electricity. What is the actual electrical service level in Shenzhen, do you know?

You're just spouting total nonsense.  There's no math here whatsoever.

Here's the math:

wishful thinking = $2/GH < realistic expectations

[oxideNL]

The imagine i'm getting of iCEBREAKER :

[freedomno1]

The imagine i'm getting of iCEBREAKER :

He-he someone else who answers only 1 question comes to mind