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

[Ytterbium]

Cool beans. 

Are the chips your sending out samples or paid orders? How are financials and dividends for chip sales going to be handled?

[Ytterbium]

Also, people on the "Custom Hardware" board have been complaining about all the pre-orders.  You guys should be able to make a killing selling miners on hand, rather then as pre-orders if you can do it in September

[TheSwede75]

Cool beans. 

Are the chips your sending out samples or paid orders? How are financials and dividends for chip sales going to be handled?

There will of course be more "hard numbers" on this posted as chips are received, tested etc. the general policy is to pay out all profits as dividends to share holders, though Labcoin also plans to reinvest when profitable.

I have requested that customers that make "serious inquiries" be sent sample chips from first run and I am also trying to facilitate a miner and first run chips be send to me for review for the forum.

More information will be available (including pictures and stats) as soon as first run chips lands in the hands of the team.

[TheSwede75]

Also, people on the "Custom Hardware" board have been complaining about all the pre-orders.  You guys should be able to make a killing selling miners on hand, rather then as pre-orders if you can do it in September

This is something we are discussing. The only "pre orders" Labcoin will be accepting are for bulk chip orders and only after we have first-run in-hand and can promise a hard delivery date (chips in hand approx 2 weeks after order).

The option of selling miners is being discussed as well and will likely depend heavily on if the team feels that they can guarantee that these would not meet with any customs issues etc.

That said, it is almost as profitable to just roll out multiples of 50TH mining on-site with little to no delivery time to end point and under 2 weeks PCB/Chip production.

[TheSwede75]

Also, people on the "Custom Hardware" board have been complaining about all the pre-orders.  You guys should be able to make a killing selling miners on hand, rather then as pre-orders if you can do it in September

+1

Exactly, this is the right time to give the pre-order fueled companies a run for their money.

Yes. The Labcoin team does realize how exceptionally valuable short time to market and in-hand products are and are definitely considering this. We are however also aware of the possible caveats of exporting high value electronics (as proven by the latest delays and problems that for example Avalon has experienced).

[afrotec]

TheSwede75, thanks for the substantial update, and your work thus far. 

I'm curious when Part II of the Q&A with Fabrizzio and others will take place?

[twentyseventy]

Sounds great.. Just bought a few stocks on BTCT.CO.. what will this mean for the stockholders?
Will they get dividend or something in the future? Or whats the plan on that.. readed the "details" but kinda alot of info..

Thanks and sorry if it was asked already a thousand times..

I actually forgot that information so thank you for asking.

UPDATE:

If everything goes as per schedule Labcoin plans to start paying dividends from the mining operation as early as the first week of September.

First week of September?! Bully!

[Ytterbium]

Also, people on the "Custom Hardware" board have been complaining about all the pre-orders.  You guys should be able to make a killing selling miners on hand, rather then as pre-orders if you can do it in September

+1

Exactly, this is the right time to give the pre-order fueled companies a run for their money.

Yes. The Labcoin team does realize how exceptionally valuable short time to market and in-hand products are and are definitely considering this. We are however also aware of the possible caveats of exporting high value electronics (as proven by the latest delays and problems that for example Avalon has experienced).

Awesome.  I'd love to see Labcoin beat HashFast/Cointerra's pricing on the one hand... on the other I'd rather not give away any profits unnecessarily.

If you are actually going to sell units you have on hand, the best thing to do might be to auction them off.

[yuansuyi]

Sounds great.. Just bought a few stocks on BTCT.CO.. what will this mean for the stockholders?
Will they get dividend or something in the future? Or whats the plan on that.. readed the "details" but kinda alot of info..

Thanks and sorry if it was asked already a thousand times..

I actually forgot that information so thank you for asking.

UPDATE:

If everything goes as per schedule Labcoin plans to start paying dividends from the mining operation as early as the first week of September.

First week of September?! Bully!

If it beccomes true, HOSTED-MINING will be holly crap with currrent price, I can't understand why pepople buy in this IPO.
Swede, could you do an News update on BTCT.CO?

[boyohi]

UPDATE:

Just talked to Sam and while exact dates are still to be received from foundry/fabrication here are the latest news:

- The first run of chips are expected to arrive within a week. This is a 2500 chip run and Labcoin expects at least 2000 chips to be of "production quality".
- From these chips some will be send to DYI projects and parties that have expressed interest in volume orders from the coming serial production run.

- PCB/Components for miners are expected to arrive shortly (a few days) after chips. To speed up miner production the PCB has not been tested prior to order but thorough simulations have been ran and Labcoin does not expect any issues with the PCB. SHOULD a problem arise Labcoin expects less than 1 week until new PCB can be produced, so even a worst case scenario has functioning PCB in-hand in about 2 weeks.

- The first run of chips will be built into miners immediately and Labcoin expects to be live and hashing @ around 6TH within the next 3-4 weeks.

- First serial production run will be ordered shortly after arrival of first-run chips and Labcoin expects serial production run of chips to arrive mid-late September (50TH+ for Labcoin mining operation and larger quantities of chips for DIY projects and mining operation customers).
- We will contact mining operations/DYI projects that have already gotten in touch with us shortly for addresses for sample chips. If you own a mining operation or similar company and wish to order chips from the first serial production run you can contact Labcoin at: sam.noi@labcoin.com - I will post bulk pricing and chip order run sizes as I get the information from Sam.

- Labcoin is currently expecting the full 1st stage of the mining operation roll-out to reach 50TH or more during mid to late October.
- More exact dates, chip speeds, pictures of chips, PCB schematics etc. will be posted as Sam receives this information from foundry and miner builders.
- I have personally requested sample chips and miner to be sent to me so that I can 'review' it for the forum. More info on this shortly.
- Labcoin has not forgotten about Fabrizio and Developers doing Q/A sessions and the other issues brought to our attention, but currently focus is on time-to-market and all available personnel is 100% committed to a successful mining operation.

- The Labcoin.com website will also be updated shortly and the new design will include real-time statistics of mining operation where visitors can follow miner deployment and hashing speed of the mining operation. More on this later.

TLDR; Things are going as planned with no delays as of yet. Labcoin expects to hash at approx 6TH within 3-4 weeks and 50TH+ by mid to late October. Serial production run of chips will start early Sept. Pictures of chips, schematics and miners etc. will be posted as they become available. Website is undergoing redesign and will feature a real-time mining statistic as soon as the mining operation goes live.

>:] and so it begins

[dexX7]

What's the status of the locked shares?

[Ytterbium]

What's the status of the locked shares?

I think they have more important things to focus on right now.

[TMAN]

Great news Man,


do we have an ETA on your go to market plan on the hardware?

cheers

[HuLaN]

another bullshit update, and ignore mailbox too ..how long can you keep it up for

LOL, what are you smoking that makes you think that this was a bullshit update? Crack? Meth?

[Ytterbium]

Also, people on the "Custom Hardware" board have been complaining about all the pre-orders.  You guys should be able to make a killing selling miners on hand, rather then as pre-orders if you can do it in September

+1

Exactly, this is the right time to give the pre-order fueled companies a run for their money.

Yes. The Labcoin team does realize how exceptionally valuable short time to market and in-hand products are and are definitely considering this. We are however also aware of the possible caveats of exporting high value electronics (as proven by the latest delays and problems that for example Avalon has experienced).

One thing for bulk chip orders - would it be possible to have the chips shipped directly from the fab to the customer? I don't know how large an order would need to be for that to be practical, but that would definitely help a lot with sales given all the problems with the Avalon chip shipments.

[boyohi]

another bullshit update, and ignore mailbox too ..how long can you keep it up for

LOL, what are you smoking that makes you think that this was a bullshit update? Crack? Meth?

Is this the 5 o'clock free crack giveaway?

[Bitcycle]

What's the status of the locked shares?

I think they have more important things to focus on right now.

This would take a very, very short amount of time to complete and update us on.  There is no excuse for not doing it.

[TheSwede75]

TheSwede75, thanks for the substantial update, and your work thus far. 

I'm curious when Part II of the Q&A with Fabrizzio and others will take place?

The accounts are ready as per what Sam told me today. So it should not be long. The team has been exceptionally busy preparing for PCB production, analyzing and testing hardware models and first run but I will make it a priority to have them do Q/A as soon as possible.

[TheSwede75]

Sounds great.. Just bought a few stocks on BTCT.CO.. what will this mean for the stockholders?
Will they get dividend or something in the future? Or whats the plan on that.. readed the "details" but kinda alot of info..

Thanks and sorry if it was asked already a thousand times..

I actually forgot that information so thank you for asking.

UPDATE:

If everything goes as per schedule Labcoin plans to start paying dividends from the mining operation as early as the first week of September.

First week of September?! Bully!

If it beccomes true, HOSTED-MINING will be holly crap with currrent price, I can't understand why pepople buy in this IPO.
Swede, could you do an News update on BTCT.CO?

Sam will post a detailed update with more specific timeline etc. through BTCT.CO in approx one week when fist-run is in-hand for real-world tests on PCB.

[Luckybit]

Cool beans. 

Are the chips your sending out samples or paid orders? How are financials and dividends for chip sales going to be handled?

There will of course be more "hard numbers" on this posted as chips are received, tested etc. the general policy is to pay out all profits as dividends to share holders, though Labcoin also plans to reinvest when profitable.

I have requested that customers that make "serious inquiries" be sent sample chips from first run and I am also trying to facilitate a miner and first run chips be send to me for review for the forum.

More information will be available (including pictures and stats) as soon as first run chips lands in the hands of the team.

What can shareholders do to promote Labcoin? Maybe advertising can be made to be cheaper? Why not just go to the forums where people are looking for ASIC miners and to reddit and promote the hell out of it?