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

[TMAN]

Btct news update would be good as well

[abuelau]

Excellent news!  

It's obvious that they have it working. You guys were expecting Labcoin to come here and say "sorry guys, we had some problems and it's not working, we will fix it and we expect to have it working in another 2 weeks", and that would be perfectly fine (after all, EVERY SINGLE ASIC company has done that before right??). Shares would dump a bit, but after 2 weeks they would go up again.

But instead they come and say "we are hashing" and all you guys can think of is "how is he tricking us". Why on hell would they say this if they didn't have it working? They have a real company, they have the chance to make a LOT of money by doing what they say they will do, if they wanted to run away they would have done it already!

This is the real deal! You are wasting your time with so many questions, let them do their work, they have met every single milestone they created so far.. Oh my god..

[somestranger]

Wtf are people doing. Move the asks they will still get eaten. Talk about burning profit

Calm down.  This news isn't what people were expecting.  It's an announcement that they are a week behind schedule.

With no verifiable proof being provided, it's hardly surprising people are getting a little nervous.

The share price says it all.  Sorry folks, it doesn't look that good at the mo.

No pictures with the announcement sure seems scammy to me.

It's obvious that they have it working. You guys were expecting Labcoin to come here and say "sorry guys, we had some problems and it's not working, we will fix it and we expect to have it working in another 2 weeks", and that would be perfectly fine (after all, EVERY SINGLE ASIC company has done that before right??). Shares would dump a bit, but after 2 weeks they would go up again.

But instead they come and say "we are hashing" and all you guys can think of is "how is he tricking us". Why on hell would they say this if they didn't have it working? They have a real company, they have the chance to make a LOT of money by doing what they say they will do, if they wanted to run away they would have done it already!

How is it "obvious that they have it working" ? There is ZERO evidence supporting this announcement. There are a multitude of ways that they could prove they have started hashing.

Why would they say this? Money. They could manipulate the share price while not even needing to prove they have anything because the cheerleaders will believe anything they say.

[zumzero]

calm down, labcoin is preparing the pictures

Yes.. it takes a lot of hard work to put pictures up. Give them time.

maybe labcoin is not next to miners to take snap shots,  properly waiting on the team

They would have done this before the announcement as it's obvious pictures should have been included. Not a statement saying pictures coming soon. This is soo laughable.

PICS OR IT DIDN'T HAPPEN!!!!!!!

[limbaugh]

Talk is cheap Labcoin. The market thinks you are full of it. Prove them wrong.

[Zubilica]

Common , no real evidence , "pictures soon" - anyhow better "that two weeks"

[TMAN]

Pics of tits to double the share price

[kokojie]

And here it comes, finally, today we are proud to announce the starting of mining operations in time with our roadmap.  
The last week has been extremely busy and work is still in progress to bring online the whole hashing power.

We're currently averaging about 2 TH/s in solo mode, and expect to deploy at least 4 TH by monday 16, to reach gradually 50 TH within October.

The website will be updated this week in order to show our live hashing rate and dividends will be paid every two weeks.
More pictures of the laboratory setting where the hardware is currently deployed will be also distributed. Complete installment will be shown when our final premise will be ready. We're still considering some business aspects, including only focusing on the upcoming 65nm version for what concerns bulk chip sales. We plan to take a final decision regarding this issue during the next month.

We want to say thanks to all investors who trusted us during this long endeavor.

We will be here for about one hour to answer questions.

Labcoin Team

If you are really mining with 4TH, then it should be trivial to temporarily switch to a pool with public stats, to confirm you are mining at 4TH. Not sure why you choose to solo mine, and provided ZERO proof that you are indeed mining.

[Vigil]

Maybe they want everyone to think it is a scam so the Labcoin owners can buy all the mining shares for cheap and therefore get all the Bitcoin rewards. why let other people collect the bitcoins you are mining? Just get them to fund your operation initially and pick up the pieces later.

[AngelSky]

Maybe they want everyone to think it is a scam so the Labcoin owners can buy all the mining shares for cheap and therefore get all the Bitcoin rewards. why let other people collect the bitcoins you are mining? Just get them to fund your operation initially and pick up the pieces later.

that would be smart 

[Aajo]

And here it comes, finally, today we are proud to announce the starting of mining operations in time with our roadmap.  
The last week has been extremely busy and work is still in progress to bring online the whole hashing power.

We're currently averaging about 2 TH/s in solo mode, and expect to deploy at least 4 TH by monday 16, to reach gradually 50 TH within October.

The website will be updated this week in order to show our live hashing rate and dividends will be paid every two weeks.
More pictures of the laboratory setting where the hardware is currently deployed will be also distributed. Complete installment will be shown when our final premise will be ready. We're still considering some business aspects, including only focusing on the upcoming 65nm version for what concerns bulk chip sales. We plan to take a final decision regarding this issue during the next month.

We want to say thanks to all investors who trusted us during this long endeavor.

We will be here for about one hour to answer questions.

Labcoin Team

My question: why is your current 130nm ASIC generation not mentioned on the labcoin website, I can only see 180nm and 65nm there. Did you meet your efficiency projection of ~ 3W/GH and do they work without heat pads? Are there any projections for the 65nm already?

*edit: only half an hour left for questions, go people

[creativex]

They changed 180 to 130nm some while back.

[Vigil]

Wait, guys... I think the Bloomberg interview of Labcoin is happening now.

[N_S]

Wait, guys... I think the Bloomberg interview of Labcoin is happening now.

Why do you say that?

[Bitcycle]

I hope they never post any pics. 

[Vigil]

Wait, guys... I think the Bloomberg interview of Labcoin is happening now.

Why do you say that?

Its a joke. Last update Labcoin said they were getting requests for interviews with CNN and such.

[nickwen]

We're mining in solo mode but live hashrate will be shown on our website next week.

Thanks.

2. Can you please share the IP from which the blocks are issued? AM has linked their name to it and it is visible on blockchain.info.

3. Are those 2 TH/s the full batch of sample chips?

4. Tapeout-date for 65 nm?



nickwen: QFP44PIN.JPG is most likely not edited, if you want to dig deeper, do an error level analysis, too.

I mean here

[ferskvare]

My question: why is your current 130nm ASIC generation not mentioned on the labcoin website, I can only see 180nm and 65nm there. Did you meet your efficiency projection of ~ 3W/GH and do they work without heat pads? Are there any projections for the 65nm already?

*edit: only half an hour left for questions, go people

This is the sort of posts that we need to focus on. Currently half of every page is filled with "This used is currently ignored" due to the high volume of trolls in here. Aajo has good questions that I am sure will be answered

[zumzero]

This site is currently in beta. Nothing is verified. Everything is virtual. Do your homework. Watch out for scams. Be diligent.

[BitcoinForumator]

Would a respectable company leave their customers in the dark if they had all the chance in the world to give some proof? Would AM do this?