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

[limbaugh]

I greatly prefer LC, as I think the risk/reward profile at this point is far better, but LC is not doing themselves any favors. If management hasn't sold their shares then keeping their word and offering proof should be a no-brainer. Why has this not happened and why doesn't it seem to bother anyone else?

Of course it does. LC has not followed through on many promises.

[limbaugh]

Because there are a million ways they could scam us and that is by far the least profitable way to do it.

The most obvious way to scam us would simply be to sell hardware out the back door and not include that income as company revenues.

You are assuming that they actually have the hardware, and to this point there is no evidence that there is. But they will be on CNN soon! More shady by the day...

[N_S]

I greatly prefer LC, as I think the risk/reward profile at this point is far better, but LC is not doing themselves any favors. If management hasn't sold their shares then keeping their word and offering proof should be a no-brainer. Why has this not happened and why doesn't it seem to bother anyone else?

creativex, none of this is new. I'd be interested to hear why you purchased shares of LC if this was such a major concern of yours.

You must know that, at this point in the game, communication across the board leaves a lot to be desired. Obviously this doesn't apply to you and Basic-Mining (but I think you'd agree the pursuits between Basic-Mining and Labcoin are totally different)

Communication hasn't gotten worse since you bought shares. In fact, a couple updates have come out since.

[N_S]

You are assuming that they actually have the hardware, and to this point there is no evidence that there is. But they will be on CNN soon! More shady by the day...

Good 'ol limbaugh with the FUD bombs. Love you, buddy

[ShawnP]

Because there are a million ways they could scam us and that is by far the least profitable way to do it.

The most obvious way to scam us would simply be to sell hardware out the back door and not include that income as company revenues.

You are assuming that they actually have the hardware, and to this point there is no evidence that there is. But they will be on CNN soon! More shady by the day...

Exactly. And since they have nothing to show there options are limited.
Easiest way too scam would not locking shares
and slowly selling them while giving some vague updates that keeps the bids up.
Oh wait that is exactly what is happening.   

[limbaugh]

You are assuming that they actually have the hardware, and to this point there is no evidence that there is. But they will be on CNN soon! More shady by the day...

Good 'ol limbaugh with the FUD bombs. Love you, buddy

Hey, you would not hear a peep from me if LC would post some meaningful progress updates. Why is this so hard for them?

[limbaugh]

Exactly. And since they have nothing to show there options are limited.
Easiest way too scam would not locking shares
and slowly selling them while giving some vague updates that keeps the bids up.
Oh wait that is exactly what is happening.   

Unfortunately, it is highly likely this is the case. I hope I am proved wrong.

[N_S]

Exactly. And since they have nothing to show there options are limited.
Easiest way too scam would not locking shares
and slowly selling them while giving some vague updates that keeps the bids up.
Oh wait that is exactly what is happening.   

Unfortunately, it is highly likely this is the case. I hope I am proved wrong.

I am willing to take side bets on Labcoin not being a scam. Please PM me if interested.

[creativex]

I greatly prefer LC, as I think the risk/reward profile at this point is far better, but LC is not doing themselves any favors. If management hasn't sold their shares then keeping their word and offering proof should be a no-brainer. Why has this not happened and why doesn't it seem to bother anyone else?

creativex, none of this is new. I'd be interested to hear why you purchased shares of LC if this was such a major concern of yours.

You must know that, at this point in the game, communication across the board leaves a lot to be desired. Obviously this doesn't apply to you and Basic-Mining (but I think you'd agree the pursuits between Basic-Mining and Labcoin are totally different)

Communication hasn't gotten worse since you bought shares. In fact, a couple updates have come out since.

I bought a small number of shares for the same reason everyone did. If they're legit then the upside is tremendous, but their actions are not the least bit encouraging and simply saying "well, they've always sucked at communicating" isn't really persuasive. It says to me either they're incompetent or they're lying. Like I said, I ain't selling, but they're not helping me to reach a point where I'm comfortable buying more.

[Bitcycle]

Because there are a million ways they could scam us and that is by far the least profitable way to do it.

The most obvious way to scam us would simply be to sell hardware out the back door and not include that income as company revenues.

You are assuming that they actually have the hardware, and to this point there is no evidence that there is. But they will be on CNN soon! More shady by the day...

Exactly. And since they have nothing to show there options are limited.
Easiest way too scam would not locking shares
and slowly selling them while giving some vague updates that keeps the bids up.
Oh wait that is exactly what is happening.   

No, the easiest way to scam would have been to float the ipo price. Which they could have done and didn't. That would have netted them much more money.

[creativex]

Don't even get me started on AMC, VMC, ACM, ACTM or whatever ks's ticker is now. I've never bought a share.

I greatly prefer LC, as I think the risk/reward profile at this point is far better, but LC is not doing themselves any favors. If management hasn't sold their shares then keeping their word and offering proof should be a no-brainer. Why has this not happened and why doesn't it seem to bother anyone else?

What was your opinion on BTCGarden?

I never bought a share as I saw no upside.

This seems pretty richly valued for an IPO after sucking up 32,000BTCs on btct.co in short order...then there's another 2,000,000 shares coming at higher prices? That's 6x the daily average on btct.co already poured into the garden in just over a day. I'm not seeing much room for further upside at this point, but good luck fellas.

https://bitcointalk.org/index.php?topic=264696.msg2859837#msg2859837

[limbaugh]

Exactly. And since they have nothing to show there options are limited.
Easiest way too scam would not locking shares
and slowly selling them while giving some vague updates that keeps the bids up.
Oh wait that is exactly what is happening.   

Unfortunately, it is highly likely this is the case. I hope I am proved wrong.

I am willing to take side bets on Labcoin not being a scam. Please PM me if interested.

I already bet that LC is not a scam, I bought shares. Post some updates LC end this scam theory now.

[Ytterbium]

Because there are a million ways they could scam us and that is by far the least profitable way to do it.

The most obvious way to scam us would simply be to sell hardware out the back door and not include that income as company revenues.

You are assuming that they actually have the hardware, and to this point there is no evidence that there is. But they will be on CNN soon! More shady by the day...

Sure, but if there was no hardware, then what difference does it make if they can sell their shares?  They can just run off with all the money from the IPO.  

Or, they could take the IPO money, use that to buy shares on the open market, manipulate the price by by timing information releases, and make a huge profit without selling a single 'supposed to be locked' share.

You see the point here?  If Labcoin is a huge scam then there is no need at all to bother selling the shares that are supposed to be locked.

So, look at the two possibilities:
1:  the chip is real and labcoin wants to scam us.  In that case, they could simply sell hardware out the back door, with no need to sell personal shares.

2: There's no chip whatsoever, in that case they could re-buy shares with the IPO money, manipulate the price with info releases and make a huge profit that way.  Again, no need to sell 'locked' shares.

Now, they've said they won't sell more then 25% of the personal shares. If they are lying scammers, who would lie about selling personal shares,  then locking the shares won't prevent them from stealing all our money

On the other hand, if they are honest we have nothing to worry about.

That's why people aren't sweating this share locking thing - if you don't feel comfortable with these people you shouldn't be investing your money with them (Unless you're running the numbers and estimating the probability they'll rip you off and figuring that into the share price, as I outlined above)

[creativex]

Expecting management to do what management says they'll do is not unreasonable.

[limbaugh]

That's why people aren't sweating this share locking thing - if you don't feel comfortable with these people you shouldn't be investing your money with them (Unless you're running the numbers and estimating the probability they'll rip you off and figuring that into the share price)

The "you should not be investing" twits can stick it. There is no reason investors should be kept in the dark like this and you know it.

[N_S]

The "you should not be investing" twits can stick it. There is no reason investors should be kept in the dark like this and you know it.

I think the point they're trying to make is:

Listen, this is what you have communication and transparency wise - for better or worse. If you don't feel that adequate, then perhaps you should invest elsewhere.

It really is as simple as that.

[limbaugh]

The "you should not be investing" twits can stick it. There is no reason investors should be kept in the dark like this and you know it.

I think the point they're trying to make is:

Listen, this is what you have communication and transparency wise - for better or worse. If you don't feel that adequate, then perhaps you should invest elsewhere.

It really is as simple as that.

Blah, blah. Some evidence that they are following through would be adequate, this should not even be an issue.

[Ytterbium]

Expecting management to do what management says they'll do is not unreasonable.

The question was "why does no one care about this."  I'm explaining why I don't care.   If they're honest, they won't sell shares.  If they're dishonest, we're fucked.

I suppose the price might go up a little if they proved they locked the shares, since it would provide evidence for their honesty. But right now I'm looking to get more cheap shares as soon as the ActM price goes up a little and a sell order I have gets filled.

I'm not worried about it, my view is that they're honest.  Or at least, the probability of their honesty is high enough to justify the current share price.

[ferskvare]

Why all the "they are keeping us in the dark", "they have no updates" statements? Where did LC say they would have an update for you today, yesterday or any other date? I remember an "early next week" that came in on a Wednesday, which is fine by me. Other that that, I cannot for the life of me find any promises about info that have not been followed through.

[N_S]

Blah, blah. Some evidence that they are following through would be adequate, this should not even be an issue.

You're missing the point. No one really disagrees that it shouldn't be an issue. But aside from voicing your opinion on LC's communication efforts, the only action you have at your disposal is to invest or liquidate.

If I were you, I'd move forward with the idea that your desire for communication will go unfulfilled. If that's a problem for you, sell. Easy peasy