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

[auto2nr1]

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. 

+1

I went to China in 2011 for business and it was very interesting over there. Some parts seem really dead and nothing happening but the big cities are different. It's like day and night.

[kingcrimson]

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.  

Same here, then he says he is trying to serve a contrarian function. No, he is trying to spread FUD so he can day trade on stocks. Probably the most pathetic person I've ever seen on the internet. Ignored and my forum experience is 5 times better ever since.

[Ytterbium]

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.  

Same here, then he says he is trying to serve a contrarian function. No, he is trying to spread FUD so he can day trade on stocks. Probably the most pathetic person I've ever seen on the internet. Ignored and my forum experience is 5 times better ever since.

It would be reasonable if he had some reasonable things to spread FUD about. But I've noticed in general people come up with the dumbest reasons for things to fail.

[Bitcycle]

Still no updates on any topic whatsoever.

[Rulother]

Still no updates on any topic whatsoever.

Thanks for the update

[SebastianJu]

This is a security that wants to design their own ASIC and mine with it right? Is the issuer having a past with securities or similar things so i could check out how he behaved there?

[Bitcycle]

I wonder where those 32,000 BTC Garden coin went?  No prices really went up very much.

Maybe only a couple thousand of those coins total have been reinvested from what I can tell.

[TheSwede75]

UPDATE: sorry for the silence as of late. This week has been very busy for the entire Labcoin team and I haven't even talked to Sam until tonight. There will be an update on quite a few things coming Monday so stay tuned. I am expecting both Sam, Fabrizio and the a developers to have quite a few things to communicate.

I hope you all have a wonderful weekend!

[physalis]

Thanks for the heads-up swede. Excited for Monday!

[HuLaN]

UPDATE: sorry for the silence as of late. This week has been very busy for the entire Labcoin team and I haven't even talked to Sam until tonight. There will be an update on quite a few things coming Monday so stay tuned. I am expecting both Sam, Fabrizio and the a developers to have quite a few things to communicate.

I hope you all have a wonderful weekend!

Thanks for the update about an upcoming update (lol), that's good to hear..  Though, since this is not the first time you promise us an appearance of Sam / Fabrizio, I really hope they have some concrete and good news to update us on Monday, looking forward to it!

[Ytterbium]

UPDATE: sorry for the silence as of late. This week has been very busy for the entire Labcoin team and I haven't even talked to Sam until tonight. There will be an update on quite a few things coming Monday so stay tuned. I am expecting both Sam, Fabrizio and the a developers to have quite a few things to communicate.

I hope you all have a wonderful weekend!

You guys should update the website with the current roadmap.  Still says 180nm on there.

[tucenaber]

I ran a simulation over future difficulties for my own amusement (yeah, I'm like that) and this is the result. The future hashrate is just extrapolated assuming exponential growth.
In the four scenarios the network hashrate increases by 1.4%, 1.7%, 2.0% and 2.3% per day respectively.

Prepare for maybe 1-3 PH/s by the end of october! Difficulty around 500 million.

Discuss.

[boyohi]

UPDATE: sorry for the silence as of late. This week has been very busy for the entire Labcoin team and I haven't even talked to Sam until tonight. There will be an update on quite a few things coming Monday so stay tuned. I am expecting both Sam, Fabrizio and the a developers to have quite a few things to communicate.

I hope you all have a wonderful weekend!

Can't wait

I ran a simulation over future difficulties for my own amusement (yeah, I'm like that) and this is the result. The future hashrate is just extrapolated assuming exponential growth.
In the four scenarios the network hashrate increases by 1.4%, 1.7%, 2.0% and 2.3% per day respectively.

Prepare for maybe 1-3 PH/s by the end of october! Difficulty around 500 million.

Discuss.

Pretty much what I was expecting. I think between 1.7%-2% a day will get us close to end of the year numbers. Don't quote me on this!

[physalis]

I actually expect it to stay lower. Maybe 200 mil diff around the start of october, possibly 300-400 mil at the end of october. Probably lower.

I think people underestimate how extremely difficult it is to sustain such exponential growth as we're seeing it right now.
It won't go on forever like this, the industry just isn't there to feed this growth. Or I'm unable to see it.

All the outstanding Avalon chips, which is (correct me if I'm wrong) by far the biggest delivery expected right now, amount for about 200-300TH. And that is HUGE. But to get to 500 mil difficulty, we'd still need to add more than ten times that. Think how long it took Avalon to produce and distribute this batch (and they're still not finished). All that hardware being produced, distributed and deployed in 2 months? Nah, I just don't see it happening.

Yes, there are lots of projects coming up to do help sustain the growth (hi labcoin!), but how well they all perform is still completely uncertain. And that they reach such high levels of productivity within such a short time is out of the question for me. So I'm staying positive. I believe if labcoin reaches their goals and gets their chips working within the next months, there's still a LOT of profit to be made.

[SebastianJu]

The amount of pre-order TH in the line coming in the next month are huge. The difficulty, 30 day timeframe, went from 46% to 71% and is now at 94%. And 46% was huge already. That will only get worse when all the preorder comes online.

[physalis]

The difficulty, 30 day timeframe, went from 46% to 71% and is now at 94%.

% of what?

[damiano]

Bid wall looks amazing right now

[BitThink]

The difficulty, 30 day timeframe, went from 46% to 71% and is now at 94%.

% of what?

I guess he means now the difficulty increases by 94% after 30 days.

[tucenaber]

I actually expect it to stay lower. Maybe 200 mil diff around the start of october, possibly 300-400 mil at the end of october. Probably lower.

I think people underestimate how extremely difficult it is to sustain such exponential growth as we're seeing it right now.
It won't go on forever like this, the industry just isn't there to feed this growth. Or I'm unable to see it.

All the outstanding Avalon chips, which is (correct me if I'm wrong) by far the biggest delivery expected right now, amount for about 200-300TH. And that is HUGE. But to get to 500 mil difficulty, we'd still need to add more than ten times that. Think how long it took Avalon to produce and distribute this batch (and they're still not finished). All that hardware being produced, distributed and deployed in 2 months? Nah, I just don't see it happening.

Yes, there are lots of projects coming up to do help sustain the growth (hi labcoin!), but how well they all perform is still completely uncertain. And that they reach such high levels of productivity within such a short time is out of the question for me. So I'm staying positive. I believe if labcoin reaches their goals and gets their chips working within the next months, there's still a LOT of profit to be made.

Who knows, this is very hard to predict. But I don't agree with you about how hard it is to sustain. That would be true if you were trying to do it alone. But you are not alone, and it is the group that grows exponentially. At least it has been for the last six months, as can clearly seen in the graph. Eventually it will level off of course.

A factor is the profitability of the first generation of ASICS. Avalon efficiency is 8.5 Ws/GH, so they will begin to disappear from the network at difficulty 200 million or so, if I do the math correctly. I don't know about ASICMINER/BlockErupter chips. Clearly power efficiency will start to be important pretty soon.

The amount of pre-order TH in the line coming in the next month are huge. The difficulty, 30 day timeframe, went from 46% to 71% and is now at 94%. And 46% was huge already. That will only get worse when all the preorder comes online.

I don't quite understand this either. What do these numbers mean? And where do you get them?

[Ytterbium]

The amount of pre-order TH in the line coming in the next month are huge. The difficulty, 30 day timeframe, went from 46% to 71% and is now at 94%. And 46% was huge already. That will only get worse when all the preorder comes online.

I don't quite understand this either. What do these numbers mean? And where do you get them?

I assume he means difficulty increases per month. A month ago the diff was nearly half what it is now, so nearly a 100% increase. That's not sustainable in the long run, obviously.