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

[Vigil]

If they were good scammers they wouldn't scam exactly how everyone else scammed in the past, they would do things differently.

[1714184601]

1714184601

[Twilight_Sparkle]

If labcoin is a scam, they are terrible scammers.

I would have to disagree.
It could also be the perfect scam: create a company actually mining, but its success is irrelevant. What's relevant is the insider trading you will be able to do by always communicating at the right time, just enough but not too much. Even if the company fails they would prove they were legit and just failed at being profitable for their investors.

Alright I'll give you that one. That is certainly possible. I just hope to sell ,when they do, if that is true  

[Vigil]

Do we seriously have Bronies on these forums and using Bitcoins?

[velacreations]

did this thread just grow by 30+ pages in a few hours?

[stslimited]

so Labcoin has 2 terahash, and expects to deploy 50 terahash by the end of the month and still won't be selling hardware?


ASICMiner has 60 terahash as is.....................................


I don't have enough dots to express my cognitive dissonance

but I haven't been a shareholder for a few weeks because of this inability to form a conclusion given the current information (coupled with the 150% profit I already had)

[superduh]

...... have they found a block yet?

[BitHub]

so it was a scam all along, should i sell everything now?

[redmetal]

so Labcoin has 2 terahash, and expects to deploy 50 terahash by the end of the month and still won't be selling hardware?


ASICMiner has 60 terahash as is.....................................


I don't have enough dots to express my cognitive dissonance

but I haven't been a shareholder for a few weeks because of this inability to form a conclusion given the current information (coupled with the 150% profit I already had)

Your also forgetting one important thing,

ASIC miner has 400,000 shares @ ~2.3BTC, makes a market cap of 920,000BTC
LABCOIN has 10,000,000 @ 0.0036, market cap of 36,000BTC

Notice the difference in the figures here? for Labcoin at current prices they only need to do 1/25 of what ASICminer is doing....

[limbaugh]

so it was a scam all along, should i sell everything now?

Yes, sell ASAP.

[klee]

How's that 7,000,000 wall over on the ice.drill?

[GOOD NEWS EVERYONE]

Thanks to the BTC price rise, that wall is melting:
Thanks for asking!  

Lol there are more shares on offer now than the last time I checked, they have just been spread out lol.

Icedrill I have realised you are too cunning to have any btc tied up in IceDrill, it is dead in the water and though you might invest if another 6MILL shares are bought you won't be in now.

So you are split three ways - LC, ACtM, AM-PT. Correct? lol Atleast the money you lose on LC you will get back from ACtM.

   Since when is a "wall" also "spread out?"  You sure a Very Special Person, Stuart!   

lol I didn't even use the word 'wall' - I said 'more shares on offer now' as you can clearly see.

What a pathetic reply. Sorry, but you have lost it over the past few weeks, you used to be quite sharp.

We were discussing the 7million@0.0016 wall put up by ice.drill has been reduced by 750k shares, thanks to the increase in $/BTC.

I know it's hard, but do try and keep up.  

I'm very happy to be all in Ice.Drill and all out of ACTM, LC, and AM-PT.  

The adults have arrived in the form of HashFast, and their upcoming disclosures are going to blow you and the Chinese scam IPOs away.

Good luck with your clown stocks!  

What's wrong on investing on both?
There is plenty of room for at least 2 companies in asic mining IMO...

[camu6]

so it was a scam all along, should i sell everything now?

Obviously! Especially when the price is this high.. for whatever reasons.
People still having their eyes closed. The idea and the potential of doubling their money quick, made them blind for all the harsh facts pointing to a scam.

[kingcrimson]

so Labcoin has 2 terahash, and expects to deploy 50 terahash by the end of the month and still won't be selling hardware?


ASICMiner has 60 terahash as is.....................................


I don't have enough dots to express my cognitive dissonance

but I haven't been a shareholder for a few weeks because of this inability to form a conclusion given the current information (coupled with the 150% profit I already had)

Your also forgetting one important thing,

ASIC miner has 400,000 shares @ ~2.3BTC, makes a market cap of 920,000BTC
LABCOIN has 10,000,000 @ 0.0036, market cap of 36,000BTC

Notice the difference in the figures here? for Labcoin at current prices they only need to do 1/25 of what ASICminer is doing....

ASICMiner = 25X Labcoin
ASICMiner 60 thash = 2.5 btc/share (24 hr avg)
Labcoin 60 thash = 0.1 btc/share

The network will expand by the time Labcoin achieves these numbers of course, substantially so, but even still we are way undervalued. 

[dhenson]

so it was a scam all along, should i sell everything now?

Yes, sell ASAP.

Lesson 1) Don't listen to people on this board other than the account named "Labcoin".  I wouldn't even listen to Swede at this point, it's obvious his duty was to manage the IPO and that's really it.

Lesson 2) Make up your own mind and stick to your decisions.  Panic buy/sell is almost always the wrong move.  Decide if your holding short and playing the swings or Long and are in it for at least 3 months to see where this baby goes.

Lesson 3) Don't listen to me, I'm one of the people on this board with an agenda.

[limbaugh]

so it was a scam all along, should i sell everything now?

Yes, sell ASAP.

Lesson 1) Don't listen people on this board other than the account named "Labcoin".  I wouldn't even listen to Swede at this point, it's obvious his duty was to manage the IPO and that's really it.

Lesson 2) Make up your own mind and stick to your decisions.  Panic buy/sell is almost always the wrong move.  Decide if your holding short and playing the swings or Long and are in it for at least 3 months to see where this baby goes.

Lesson 3) Stop listening to me, I'm one of the people on this board with an agenda.

Why haven't you filled my bids yet? Sell!

[redmetal]

so Labcoin has 2 terahash, and expects to deploy 50 terahash by the end of the month and still won't be selling hardware?


ASICMiner has 60 terahash as is.....................................


I don't have enough dots to express my cognitive dissonance

but I haven't been a shareholder for a few weeks because of this inability to form a conclusion given the current information (coupled with the 150% profit I already had)

Your also forgetting one important thing,

ASIC miner has 400,000 shares @ ~2.3BTC, makes a market cap of 920,000BTC
LABCOIN has 10,000,000 @ 0.0036, market cap of 36,000BTC

Notice the difference in the figures here? for Labcoin at current prices they only need to do 1/25 of what ASICminer is doing....

ASICMiner = 25X Labcoin
ASICMiner 60 thash = 2.5 btc/share (24 hr avg)
Labcoin 60 thash = 0.1 btc/share

The network will expand by the time Labcoin achieves these numbers of course, substantially so, but even still we are way undervalued. 

I would like to agree with you but at this time Labcoin is extemely speculative

[newguy05]

when is first dividend payment coming

[mfalme]

when is first dividend payment coming

September 17th

[dhenson]

when is first dividend payment coming

September 17th

Proof?

[mfalme]

when is first dividend payment coming

September 17th

Proof?

Thats what Labcoin said like 29 pages ago, so you know its true 

[Ytterbium]

I love how the sentiment has changed from "Labcoin is a scam, sell all your shares now the price will crash!!!!" to "Labcoin is a scam, I think I might hold for a while because these guys are really good scammers and the stock price will probably go up in the short run."

Most of the "Labcoin is a scam" people seem to have, lets just say, limited understanding of the "real world" (or math, or anything else).  The reality is it isn't that difficult to make an ASIC. Especially not a 130nm one. There is no reason to think Labcoin's 130nm chip doesn't exist.  

Or, if they didn't have their own chip design they could simply have purchased a bunch of bitforce 55nm chips. 50Th/s of Bitforce chips for October delivery costs just $1m. So they could get most of the way there with just their IPO money.

Anyway here's the thing, guys: it's possible to be a scam  and have your own chips.  So to me the idea that they're a scam and there are no chips makes no sense.  Why wouldn't they have chips?  Designing a chip at the logic level and sending it off to a another company to work with a fab and have it made isn't black magic.  It's not that difficult to do if you have the money.

Plus, look at BFL.  They obviously have a chip, and yet they are still a complete scam.

So anyway, if this is a scam it's more likely to be a long con like BFL.  Keep people going a long and make money for a long time rather then a quick one-hit megascam where they instantly take all the money and run.

That said, I think the most plausible explanation is that they're busy setting up mining farm. If the guy with the 'labcoin' user account is in Europe obviously it's not going to be easy for him to get pics.  I think the people claiming that it's a scam are a bit out to lunch.

That said, though I think Solo mining is a really bad idea.  Luck will have a huge impact, especially at low hash rates. Blocks can easily take 10x as long as the average time to find, and at a low hashrate a string of bad luck can mean permanently losing out on a difficulty period.   You will not have the chance to 'make it up later' because the 'later' will have a higher difficulty

When the difficulty plateaus solo mining would be a reasonable thing to do, or when you have a decent chunk of the network.

For now, labcoin really needs to join a pool.  Solo mining at this point is just gambling with investor money.