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

[limbaugh]

Involving Sparmann in their project proves that labcoin management *IS* capable of making a good decision at least part of the time. At least it works for me.

Labcoin The Seven
August 8, 2013 By bcoinnews Leave a Comment
IRC conversation with [7] from FPGAmining
<jborkl>You are TheSeven from Fpgamining correct?
<[7]> yes
<jborkl> i.e.(Labcoin) they are actually developing something?
<[7]> I can’t really comment on that because I wasn’t involved in the development of them besides giving them some general hints what can be optimized etc.
<[7]> i’m mostly involved with the second generation chips
<jborkl> 65nm chips?
<[7]> yes, they are actually developing something, definitely. I just can’t comment on how successful it will be
<jborkl> Thank you. I will ask your permission to post this up.
<[7]> yes, from what i know that second generation will be 65nm, although we could technically still switch to something else at this stage
<jborkl> ok, Thank you for your time.

http://bcoinnews.com/2013/08/08/labcoin-the-seven/

Old news, blah blah. No blocks, that is a problem.

[kingcrimson]

Another day and Labcoin refuse to back up claims. Plenty of time to 'coordinate' with the worldwide team. Freaking ridiculous..

It is truly unbelievable. Every single chip-producing operation (aside from AM) just can't do PR. Period. Just can't do it. Can't provide exposure, transparency, timely updates, or anything that resembles communication.

When the fuck is someone going to produce a competitive chip and have someone on the forums giving updates? This is apparently impossible.

It doesn't matter if there's nothing ground-breaking. People want reassurance. Use the fucking keyboard and type some shit. Jesus Christ.

Engineers are legendary for poor social skills

[N_S]

Calm down.  Whether or not they babysit the thread is completely irrelevant to how much money they make.

I don't think Labcoin is a scam with vaporware chips like some people - but I'd like to see the share price go up, which would be more likely to happen if they hash in a verifiable way. Like, how difficult would it be to say "Any coins mined will be sent to address 1LABCOINa35LKJgakl..." or whatever.

Unfortunately, it does look shady. It's the kind of thing someone would do if they wanted to ripoff their shareholders.

Exactly right. This is entirely my point.

[limbaugh]

Calm down.  Whether or not they babysit the thread is completely irrelevant to how much money they make.

I don't think Labcoin is a scam with vaporware chips like some people - but I'd like to see the share price go up, which would be more likely to happen if they hash in a verifiable way. Like, how difficult would it be to say "Any coins mined will be sent to address 1LABCOINa35LKJgakl..." or whatever.

Unfortunately, it does look shady. It's the kind of thing someone would do if they wanted to ripoff their shareholders.

Exactly right. This is entirely my point.

Yep, the reason I sold a majority of my position off. If I am going to be a bag holder, I would like it to be a small bag.

[N_S]

Yep, the reason I sold a majority of my position off. If I am going to be a bag holder, I would like it to be a small bag.

Haha you're relentless with the manipulation

[somestranger]

Did someone checked with burnside if their shares are still intact?

Initiating a panic selling frenzy based on irrational fear will likely be more difficult for manipulators now that burnside has confirmed LC founders are holding at least as large a stake as they said they would. We already know labcoin management flat out stinks at communicating. We already know they've provided very little proof. In the absence of new information I don't really see the impetus to sell, particularly as they've said they'd provide additional information "in a few days", "soon^TM", and "in 48hrs". They've also said they'd increase to 4Th by next Monday.

Can you provide a link to Burnside's confirmation? Thanks.

Burnside,

can you confirm whether LABCOIN has provided you accounts to lock as per
https://bitcointalk.org/index.php?topic=263445.msg2896819#msg2896819

How will you show transparency with the 75% retained shares? the IPO manager will arrange some kind of way for burnside to release that information

I have not been handed a list unless I missed it somewhere.

I hope the LABCOIN guys don't mind me disclosing this.  Over 85% of the 3 million shares have not left a specific account I know is held in the Labcoin name.  The other 15% could easily be held in any of the next few top shareholders, but I am not privy to who is who without some assistance.

Edit/add: and this account is not locked.  I will not lock it without a specific request from the owner.

Burnside

I believe the time has come for this to be resolved and it is no longer a background issue - time has come in this particular instance as owner and administrator of exchange to demonstrate a reasonable level of concern for customers finances, and locking of LABCOIN security, pending resolution should start. No update has been forwarded via the issuer as yet even though it has been promised. This to me suggests evidence of cheating, lying from one or both parties.

I would like to remind that anyone that is aware of and has the power to investigate or terminate, yet allows unfettered operation of fraudulent investment schemes- that is happy to bury their head in the sand as long as it is earning them profits becomes an accessory, or an accomplice and could potentially be in for a rude awakening

"Nothing is verified."  It's at the top of every single page.

I do not (nor does ANY regulatory body anywhere) have the ability to track every single promise a person makes, nor the ability to enforce follow-through on such promises.

If you're nervous about it, don't get involved with that asset.  (Seriously.  Stay away from anything that you have any reservations on.)

If you do get involved of your own free will make sure you read the Disclosures, the ToS, and have the cahones to take responsibility for your own actions.

Cheers.

https://bitcointalk.org/index.php?topic=125629.msg3125212#msg3125212

[limbaugh]

Yep, the reason I sold a majority of my position off. If I am going to be a bag holder, I would like it to be a small bag.

Haha you're relentless with the manipulation

Me? No, I just want Labcoin to follow through. They already have several users filing claims to various agencies to investigate the 'business'. Labocoin could put a stop to this now, but they refuse. I want to know why.

[AngelSky]

Yep, the reason I sold a majority of my position off. If I am going to be a bag holder, I would like it to be a small bag.

Haha you're relentless with the manipulation

Me? No, I just want Labcoin to follow through. They already have several users filing claims to various agencies to investigate the 'business'. Labocoin could put a stop to this now, but they refuse. I want to know why.

Please, try to FUD another stock.. or go watch the TV.

[boyohi]

Yep, the reason I sold a majority of my position off. If I am going to be a bag holder, I would like it to be a small bag.

Haha you're relentless with the manipulation

Me? No, I just want Labcoin to follow through. They already have several users filing claims to various agencies to investigate the 'business'. Labocoin could put a stop to this now, but they refuse. I want to know why.

Please, try to FUD another stock.. or go watch the TV.

Now on FUD TV. Labcoin thread!

[Ytterbium]

Calm down.  Whether or not they babysit the thread is completely irrelevant to how much money they make.

I don't think Labcoin is a scam with vaporware chips like some people - but I'd like to see the share price go up, which would be more likely to happen if they hash in a verifiable way. Like, how difficult would it be to say "Any coins mined will be sent to address 1LABCOINa35LKJgakl..." or whatever.

Unfortunately, it does look shady. It's the kind of thing someone would do if they wanted to ripoff their shareholders.

Exactly right. This is entirely my point.

Right, but until this I haven't really had much of a problem with the way they've been doing things. A lot of the complaints and FUD have been pretty ridiculous. the whole "WE NEED PICTURES NAO" stuff, as if people with $700k in IPO money couldn't stage a photo (they wouldn't even need Photoshop, just produce a couple custom circuit boards and put fake chips on them.  You can have prototype boards produced in 24h)

The only reason I can think of to do solo mining would be that they hadn't coded a pooling interface for their hardware, or if their pooling interface performs poorly or something.

If they are going to do solo mining, they should at least tell us the address that the coins will be going too so we can monitor progress before they get their block signing code done.

Like I said, I don't think it's a scam at this point, but the share price should be going up instead of down, and hashing in a verifiable way should be helpful  (yes, they could be using other hardware, but at least we'll be able to see they have something)

[limbaugh]

Yep, the reason I sold a majority of my position off. If I am going to be a bag holder, I would like it to be a small bag.

Haha you're relentless with the manipulation

Me? No, I just want Labcoin to follow through. They already have several users filing claims to various agencies to investigate the 'business'. Labocoin could put a stop to this now, but they refuse. I want to know why.

Please, try to FUD another stock.. or go watch the TV.

Call me what you want, but people are selling off and bids are disappearing.

[AngelSky]

Calm down.  Whether or not they babysit the thread is completely irrelevant to how much money they make.

I don't think Labcoin is a scam with vaporware chips like some people - but I'd like to see the share price go up, which would be more likely to happen if they hash in a verifiable way. Like, how difficult would it be to say "Any coins mined will be sent to address 1LABCOINa35LKJgakl..." or whatever.

Unfortunately, it does look shady. It's the kind of thing someone would do if they wanted to ripoff their shareholders.

Exactly right. This is entirely my point.

Right, but until this I haven't really had much of a problem with the way they've been doing things. A lot of the complaints and FUD have been pretty ridiculous. the whole "WE NEED PICTURES NAO" stuff, as if people with $700k in IPO money couldn't stage a photo (they wouldn't even need Photoshop, just produce a couple custom circuit boards and put fake chips on them.  You can have prototype boards produced in 24h)

The only reason I can think of to do solo mining would be that they hadn't coded a pooling interface for their hardware, or if their pooling interface performs poorly or something.

If they are going to do solo mining, they should at least tell us the address that the coins will be going too so we can monitor progress before they get their block signing code done.

Like I said, I don't think it's a scam at this point, but the share price should be going up instead of down, and hashing in a verifiable way should be helpful  (yes, they could be using other hardware, but at least we'll be able to see they have something)

I totally agree with you. But I guess they just don't care much about the share price day by day, hour by hour or minute by minute (like some guys here). They see the big picture, and one week for them is like 1h for people reading this forum.

[AngelSky]

Call me what you want, but people are selling off and bids are disappearing.

Everyone know what you are doing here. And if they don't, they just need to read your previous messages these last 24 hours. If you're doing market manipulation, just do it one or two times, and then stop it (for yourself and for everyone).

[physalis]

Yep, the reason I sold a majority of my position off. If I am going to be a bag holder, I would like it to be a small bag.

Haha you're relentless with the manipulation

Me? No, I just want Labcoin to follow through. They already have several users filing claims to various agencies to investigate the 'business'. Labocoin could put a stop to this now, but they refuse. I want to know why.

No, you're just an insincere manipulative little prick. You change your side here about 3 times a day.
You're right with your "concerns" here, but everything coming from you is completely worthless.

[limbaugh]

Call me what you want, but people are selling off and bids are disappearing.

Everyone know what you are doing here. And if they don't, they just need to read your previous messages these last 24 hours. If you're doing market manipulation, just do it one or two times, and then stop it (for yourself and for everyone here).

Market manipulation is Labcoin's job not mine. I'm just pointing out that the sell off is starting and it might not recover this time.

[N_S]

the sell off is starting and it might not recover this time.

Hahah, he's totally shameless!

[velacreations]

another day, still no stamped blocks...
another day, still no signed mining address...
another day, still no explanation for solo mining...

another day, and the credibility continues to erode.

[limbaugh]

Yep, the reason I sold a majority of my position off. If I am going to be a bag holder, I would like it to be a small bag.

Haha you're relentless with the manipulation

Me? No, I just want Labcoin to follow through. They already have several users filing claims to various agencies to investigate the 'business'. Labocoin could put a stop to this now, but they refuse. I want to know why.

No, you're just an insincere manipulative little prick. You change your side here about 3 times a day.
You're right with your "concerns" here, but everything coming from you is completely worthless.

My concern is I hold shares in what is looking more like a sham by the minute. I do want to believe in Labcoin but they continue to remain silent. No blocks, no news, wtf?

[aquarius]

another day, still no stamped blocks...
another day, still no signed mining address...
another day, still no explanation for solo mining...

another day, and the credibility continues to erode.

another day, still no shares locked

[velacreations]

I'm just pointing out that the sell off is starting and it might not recover this time.

it barely recovered yesterday, that buy side was extremely thin, and very few shares exchanged hands to bring the price back up.  I don't know that I would call that a "recovery".  More like propping up the price in hopes that news would come to back up the promises.