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

[velacreations]

bi refers to 2, not twice

more or less, yep.

Bicentennial = 200 years (two centennials, or two one-hundred years)
Semicentennial = 50-year anniversary (Oklahoma celebrated this for their statehood in 1957)
Biannual = 2 years, like some obscure races (human powered submarine, for one)
Semiannual = every 6 months (see your local discount furniture store sales for examples)
Bimonthly = every 2 months (like your girlfriend's period in Jr. high school)
Semimonthly = every half a month (many employers use this to ensure exactly 24 pay periods)
Biweekly = every 2 weeks (many other employers pay on this schedule for 26 pay periods per year)
Semiweekly = twice per week (some Ye Olde Tyme newspapers did this a lot, as news wasn't all that easy to come by for a daily paper back then)

I can't believe I'm contributing to this. Hopefully it dies here.

I know, but the British want to change the meaning of "bi" to "twice" for this one. 

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[auto2nr1]

If we were to start hashing within the next 24-48 hours why has there been no informational update from Labcoin? We should have chip information, board information and other details in regards to the hardware that is suppose to go online sometime tomorrow. Pictures of the hardware fully assembled. Maybe even screenshots of them doing test hashing before they are fully up and operational. There is too little information coming out from management.

[velacreations]

bifocals = two focals
bicycle = two wheels
bilingual = two language
binary = two numbers only, that is 0 & 1

biweekly = two weeks

[Mabsark]

bi weekly is every two weeks, semiweekly means twice a week.

Yes, but colloquially people have muddled up the meaning of biweekly so it can now mean either twice a week or every two weeks. Needs clarification.

For me, biweekly is twice per week and fortnightly is every two weeks. I've already PM'd TheSwede asking for clarification. If their plan is once every 2 weeks, I'd rather them switch to once per round.

biweekly is twice per week, bimonthly is twice per month, biyearly is twice per year

Biweekly means twice a week in England, where English comes from. "Bi" comes from the Latin "bis" meaning "twice", hence bi-weekly means twice-weekly.

my english education is based on 'English' English, so i concur with the above statement

Well, I am English, and I say bi-weekly means twice per week. Wikipedia says biweekly means twice per week in the UK. The dictionaries give both meanings and if you Google bi-weekly, you'll see discussions about whether it means once every two weeks or twice per week.

Just because you say it's one of them, doesn't make it so. That's also true for me as well. We need to wait to get it clarified like I said, as it actually does mean both.

[radiumsoup]

If we were to start hashing within the next 24-48 hours why has there been no informational update from Labcoin? We should have chip information, board information and other details in regards to the hardware that is suppose to go online sometime tomorrow. Pictures of the hardware fully assembled. Maybe even screenshots of them doing test hashing before they are fully up and operational. There is too little information coming out from management.

Incomplete news would result in only more speculation. News will come when it's ready. If you're bullish on this, I recommend keeping some dry powder on the sidelines - the natives seem restless.

[velacreations]

Well, I am English, and I say bi-weekly means twice per week. Wikipedia says biweekly means twice per week in the UK. The dictionaries give both meanings and if you Google bi-weekly, you'll see discussions about whether it means once every two weeks or twice per week.

Just because you say it's one of them, doesn't make it so. That's also true for me as well. We need to wait to get it clarified like I said, as it actually does mean both.

I'm just saying bi = two in every other use (it never means twice), so it stands to reason that it would mean "two weeks" not "twice a week".

Logically speaking, paying a dividend every 2 weeks is more realistic than paying twice a week.

[Bitcycle]

If we were to start hashing within the next 24-48 hours why has there been no informational update from Labcoin? We should have chip information, board information and other details in regards to the hardware that is suppose to go online sometime tomorrow. Pictures of the hardware fully assembled. Maybe even screenshots of them doing test hashing before they are fully up and operational. There is too little information coming out from management.

Questions that have been asked 100000000 times, there are no answers.

Make your own choices based on that.  The uncertainty isn't going away for you.

[dexX7]

If we were to start hashing within the next 24-48 hours why has there been no informational update from Labcoin? We should have chip information, board information and other details in regards to the hardware that is suppose to go online sometime tomorrow. Pictures of the hardware fully assembled. Maybe even screenshots of them doing test hashing before they are fully up and operational. There is too little information coming out from management.

Possible reason: to create more momentum when they do announce the news.

As far as I recall they did promise pictures of finished boards before they start hashing. Though this wasn't mentioned in the latest announcements, but earlier. From the IRC Q&A (but that's not the only reference):

[12:20] <dexX7> labcoin_dev: so the chips are ready soon. how's the status of the boards?
[12:21] <+labcoin_dev> The boards are near their design completion and will be tested as soon as we have the chips
[12:21] <+labcoin_dev> we'll post pictures of the boards very soon

[12:22] <@San1ty_> labcoin_dev: How many boards do you have ready for testing when the chips arrive? How long will it take after testing to get all the board you need, set them up with chips and get them hashing?
[12:23] <+labcoin_dev> it will take about   7-10 days to get all the boards up and running probably
[12:23] <+labcoin_dev> and, for the first run, we have 500 boards on order

[Vigil]

Do any of you have the issue on BTCT that after about 10 minutes the real-time ticker stops updating? I have to close it and reopen it every few minutes to get updates.

[AngelSky]

Do any of you have the issue on BTCT that after about 10 minutes the real-time ticker stops updating? I have to close it and reopen it every few minutes to get updates.

Just read the source code, it's in the script -.-

I'm doing a webservice live that will do better than that.. Will release beta soon

[Vigil]

Do any of you have the issue on BTCT that after about 10 minutes the real-time ticker stops updating? I have to close it and reopen it every few minutes to get updates.

Just read the source code, it's in the script -.-

I'm doing a webservice live that will do better than that.. Will release beta soon

I don't know what you are telling me. Reading the source code is going to give me real-time data? Or are you talking about scraping?

[AngelSky]

Do any of you have the issue on BTCT that after about 10 minutes the real-time ticker stops updating? I have to close it and reopen it every few minutes to get updates.

Just read the source code, it's in the script -.-

I'm doing a webservice live that will do better than that.. Will release beta soon

I don't know what you are telling me. Reading the source code is going to give me real-time data? Or are you talking about scraping?

Seems there is some kind of timeout in the script. You have to refresh the webpage to reset the timeout. I'm actually working on a real live website to display the realtime trades without the need to refresh.

[wickedgoodtrader]

We have received the first chip batch and we're working full speed on finalizing the controller board design, mining will start no later than 10 September with about 3-4 TH, and to reach the full speed within October. Dividend payments will start on the same week.

Deployment is proceeding according to plans and pictures of the devices will be revealed later. Hashing will start on the promised date.

Sentiment survey:

What if they go the "we started hashing today, dividends will be payed later this week, pictures and chip documentation are coming soon" route on the 10th?

share price only goes to .007, instead of .01.

haha right.. a company doing many technical things, but they can't take 2 minutes to take a picture and upload it like my grandma could. If there's no pictures and proof of hashing when they report hashing.. it is 100% a scam. No ifs and or buts about it. The fact that they are suppose to be hashing soon and there isn't 1 pic of any sort of progress.. also speaks wonders. Honestly everything points so bad in the direction of a scam, I will be super shocked and humbled if they come through. I will eat my words and accept it. As of now I think there's less then a 5% chance that happens though.

Also the fact that he just threw out dates like.. "will be hashing no later then sept 10th". How did he know? He's never done this before. He doesn't know what it takes to turn thousands of chips into working machines. He also said no later then the 10th which meant it very well could have come early.. which is hasn't. So magically.. this prediction he made on something he has never done before is going to come true on the exact day he said it wouldn't be any later then. And not 1 single picture of them setting up or anything. It's just going to all happen in an instant on the last day apparently. WOW

[AngelSky]

We have received the first chip batch and we're working full speed on finalizing the controller board design, mining will start no later than 10 September with about 3-4 TH, and to reach the full speed within October. Dividend payments will start on the same week.

Deployment is proceeding according to plans and pictures of the devices will be revealed later. Hashing will start on the promised date.

Sentiment survey:

What if they go the "we started hashing today, dividends will be payed later this week, pictures and chip documentation are coming soon" route on the 10th?

share price only goes to .007, instead of .01.

haha right.. a company doing many technical things, but they can't take 2 minutes to take a picture and upload it like my grandma could. If there's no pictures and proof of hashing when they report hashing.. it is 100% a scam. No ifs and or buts about it. The fact that they are suppose to be hashing soon and there isn't 1 pic of any sort of progress.. also speaks wonders. Honestly everything points so bad in the direction of a scam, I will be super shocked and humbled if they come through. I will eat my words and accept it. As of now I think there's less then a 5% chance that happens though.

I was asking myself when would I see here guys screaming: "it's a scam". Thanks I got my answer now. Btw, don't you think they are already hashing?

[velacreations]

for real time info, just go to http://kryptotrader.com/

(I am in no way associated with that site, but it is good for watching trades live)

[AngelSky]

for real time info, just go to http://kryptotrader.com/

(I am in no way associated with that site, but it is good for watching trades live)

I love it too

[velacreations]

we've seen a decent run up today in anticipation.  People want to get on the train before it leaves the station tomorrow.

How high will it go before the news?  Will it break .004?

EDIT:  and now the ActM selling starts, that means a LC buy is coming up... 

[AngelSky]

we've seen a decent run up today in anticipation.  People want to get on the train before it leaves the station tomorrow.

How high will it go before the news?  Will it break .004?

EDIT:  and now the ActM selling starts, that means a LC buy is coming up... 

To break 0.004 we need something more I guess. People still want to make a good price < 0.004. It might change soon and see the ask wall become thiner.

[velacreations]

we've seen a decent run up today in anticipation.  People want to get on the train before it leaves the station tomorrow.

How high will it go before the news?  Will it break .004?

EDIT:  and now the ActM selling starts, that means a LC buy is coming up... 

To break 0.004 we need something more I guess. People still want to make a good price < 0.004. It might change soon and see the ask wall become thiner.

sub .0039 has reduced a lot, today, especially in the last hour or so.  I guess people are nervous about selling anything that cheap.

[Ytterbium]

ridiculous.

smart traders liquidate a big position slowly in this sort of market.  You don't need big buyers, you need the number of shares.  It doesn't matter if that comes from one order or 1,000.

that guy missed out on at least 10% because he did exactly what you are saying to do.  Instead, he could have put up a sell order at 1,000 shares or maybe 1,500 shares and once it fills, put another one up.  Boom.  5 minutes, and his position is liquidated without missing out on profit.

I call something stupid when it is stupid.  The trader sold all at once, instead of setting up multiple sell orders and thus missed out on 10%.  I don't consider that smart.

It depends on the timeframe.  If they think the price of LABCOIN, or some other opportunity, is going to go up in the amount of time it would actually take to sell that order through posting asks, it might make sense to liquidate that way.  That's how I got the BTC in my account to buy Actm before I sold it again for a 65% profit in that huge spike.

(I actually went back and checked and I actually held ActM about 1h before I sold it)

Did you or did you not just say that price might go down on good news? And did or did I not warn people of that yesterday and get laughed off the thread for it?

What's changed in the past 24 hrs?

Come on Ytterbuim where are you? Why can't you further explain your assessment of the situation. You basically said it's looking dire, you said there is not enough capital in the crypto-currency mining market, not enough buyers to push this over 0.004 - even on good news. Can you explain that a bit more for the worried holders?

Off selling some LC are we? That would be logical if you believe your own assessment of this stock in this market.

Your expectation of instant replies mirrors the unrealistic expectations of a lot of bitcoin investors looking for weekly updates from their IPO-of-the-month.

I don't know the guy, but maybe he's a football fan? Maybe he has kids and he took them to Six Flags or something? Maybe he has better things to do than hit F5 all day here? There are times when I don't come here for a week at a time because I have no interest in finding new news. A lack of response does not indicate a refusal to respond.

Just make your point and wait. If you don't get a reply, consider your point either 1.) ceded because your argument was insurmountable, or 2.) inadequately made and therefore ignored as not worth replying to. But don't just keep demanding answers, it rings of shallowness and immaturity.

He doesn't seem to understand how the ignore function actually works...

Of course, it doesn't help if people keep responding to him and quoting him

I think the fact he went silent after a difficult question speaks volumes

No, it doesn't. It means he hadn't replied. That's all it means. Nothing more. You can infer all the reasons possible for the lack of response that you want, but it doesn't make your inference the truth.

And also that I can't see his posts. Because I put him on ignore.  Definitely makes it easier to catch up on the thread. There's only so much money you can make day trading these virtual stocks, the real money is in holding and waiting, for the most part. Besides I doubt they'd do an announcement on the weekend anyway.