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

[JohnyBigs]

You clearly don't understand within this "week" lol.

What are your plans for if we hit 0:00 Monday morning and nothing of substance has surfaced?

Then I will sell all my shares, so far they have kept their word with deadlines and pictures. It's funny when I asked real questions and concerns in this thread I was bashed, now that I'm again speaking normal things, getting bashed.

Come to the conclusion that this thread is filled with FUDs on both sides, anyone who has half a brain can see that Labcoin has kept their word with updates to date.

Every single issue the FUDs here complain about has been addressed here: https://btct.co/security/LABCOIN under News

It's funny even back then people would talk shit, yet they didn't even know there was an about page on BTCT haha.

[N_S]

anyone who has half a brain can see that Labcoin has kept their word with updates to date.

I think you should scroll up.

[Vigil]

I just wanted to stop by and say that I have not been able to talk to Sam today. I do realize that "next week" is here and as soon as I have anything to report I will. I realize a "nothing to report yet" report is just that, but as soon as I hear anything it will be posted here and on BTCT.CO news section.

Remember this fiasco? This post was what set-off that first massive sell-off. "Hey guys, uh.... nothing. Later" Major PR trainwreck. There were probably a few investors who lost their homes and families over this dunce-tacular move.

[Bitcycle]

I just wanted to stop by and say that I have not been able to talk to Sam today. I do realize that "next week" is here and as soon as I have anything to report I will. I realize a "nothing to report yet" report is just that, but as soon as I hear anything it will be posted here and on BTCT.CO news section.

Remember this fiasco? This post was what set-off that first massive sell-off. "Hey guys, uh.... nothing. Later" Major PR trainwreck. There were probably a few investors who lost their homes and families over this dunce-tacular move.

Swede simply has no credibility left.

[yuansuyi]

Status update

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.
We again remind everyone that the team shares won't be sold. We understand the investors concerns and we will be publishing pictures of the installment as soon as we are able to, before mining will start.

Broken promise #10 or #20 or somewhere in between.

don't you think the grammer is strange?
we will be publishing pictures of the installment as soon as we are able to, before that, mining will start.

[Vigil]

15. What's the status of the boards? How long will it take after testing to get all the board you need, set them up with chips and get them hashing?
The boards are near their design completion and will be tested as soon as we have the chips. we'll post pictures of the boards very soon.  it will take about 7-10 days to get all the boards up and running probablyand, for the first run, we have 500 boards on order

Jesus christ, check the date of that bad boy.

Amazing how they stuck exactly to schedule but unable to prove they actually did it. Even uses the same wording as the post announcing they got the chips - "7-10 days"

[salviel]

I want all of you to consider this:

Burnside has already confirmed that the vast majority of Labcoin shares are owned by an account he knows to be controlled by Labcoin.

If Labcoin were a scam, then the people involved would already know this, and of course would be monitoring the share price pretty closely.

As far as I understand, Burnside hasn't 'officially' locked those shares, and yet there has been no massive selloff from that account. Wouldn't you think that if it were a scam, the Labcoin account would try and get as much for those shares before they completely crashed?

But this hasn't happened.

Yes, many people here are concerned that an official response has not appeared to quell the FUD. If Labcoin were a scam, I would expect terror-filled scammers to be filling this thread with warm reassurances to prop up the price of the shares until they could squeeze out as much as they could.

Yet this hasn't happened. Why? They know it isn't a scam, and their future profits rest on the hero's portion of the dividends they will be receiving, not the price of the stock to sell off.

This is why I take their relative silence as a comforting sign. I would be far more concerned if they magically appeared at Limbaugh's sardonic tirade to attempt a 'feel good' PR response.

But please understand, I am a bear of very little brain, and long words bother me.

[aquarius]

Guys if you are competent and you realize that you might miss a promised deadline you log in a couple of hours before and make sure to tell investors that you are the most sorry person in the world. and you then stay in the thread conversing with worried people making them at least feel better.

This is just horrible.

[drawingthesun]

I just wanted to stop by and say that I have not been able to talk to Sam today. I do realize that "next week" is here and as soon as I have anything to report I will. I realize a "nothing to report yet" report is just that, but as soon as I hear anything it will be posted here and on BTCT.CO news section.

Remember this fiasco? This post was what set-off that first massive sell-off. "Hey guys, uh.... nothing. Later" Major PR trainwreck. There were probably a few investors who lost their homes and families over this dunce-tacular move.

Swede sold high and bought low. Very simple. I am not sure how some of you don't understand that the trainwreck is planned, the end of the line is already known.

[MikeyVeez]

15. What's the status of the boards? How long will it take after testing to get all the board you need, set them up with chips and get them hashing?
The boards are near their design completion and will be tested as soon as we have the chips. we'll post pictures of the boards very soon.  it will take about 7-10 days to get all the boards up and running probablyand, for the first run, we have 500 boards on order

Jesus christ, check the date of that bad boy.

Amazing how they stuck exactly to schedule but unable to prove they actually did it. Even uses the same wording as the post announcing they got the chips - "7-10 days"

15. What's the status of the boards? How long will it take after testing to get all the board you need, set them up with chips and get them hashing?
The boards are near their design completion and will be tested as soon as we have the chips. we'll post pictures of the boards very soon.  it will take about 7-10 days to get all the boards up and running probablyand, for the first run, we have 500 boards on order

7-10 days after they got the chips, and made the boards. Learn to read. Not 7-10 days from that post.

[Vigil]

Status update

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.
We again remind everyone that the team shares won't be sold. We understand the investors concerns and we will be publishing pictures of the installment as soon as we are able to, before mining will start.

Broken promise #10 or #20 or somewhere in between.

don't you think the grammer is strange?
we will be publishing pictures of the installment as soon as we are able to, before that, mining will start.

No, I don't. It says we will publish pictures before mining will start. Why would you not be able to provide pictures until after mining? That would not be "as soon as we are able too". As soon as you are able to is as soon as the boards are done or even some assembly pictures would be nice. That is what most people do. Go look at BKK's thread on Klondike development and testing. He didn't have to wait until it was all done, he posted update photos. Go look at any other forum where projects are done by the members or DIYers - they post progress pictures to show people what is happening. Otherwise it didn't happen, it is vaporware.

[Vigil]

15. What's the status of the boards? How long will it take after testing to get all the board you need, set them up with chips and get them hashing?
The boards are near their design completion and will be tested as soon as we have the chips. we'll post pictures of the boards very soon.  it will take about 7-10 days to get all the boards up and running probablyand, for the first run, we have 500 boards on order

Jesus christ, check the date of that bad boy.

Amazing how they stuck exactly to schedule but unable to prove they actually did it. Even uses the same wording as the post announcing they got the chips - "7-10 days"

15. What's the status of the boards? How long will it take after testing to get all the board you need, set them up with chips and get them hashing?
The boards are near their design completion and will be tested as soon as we have the chips. we'll post pictures of the boards very soon.  it will take about 7-10 days to get all the boards up and running probablyand, for the first run, we have 500 boards on order

7-10 days after they got the chips, and made the boards. Learn to read. Not 7-10 days from that post.

Why are you throwing strawmen up? That isn't what I said. You are doing that to legitimize your own denial. You are in denial, admit it.

[velacreations]

Then I will sell all my shares, so far they have kept their word with deadlines and pictures.

locked shares?  pictures before mining?  stamped blocks?  actually hashing?

[N_S]

Well, people are reacting. If I'm not mistaken, just shy of 100k shares have left the bid side in the past hour or so.

[MikeyVeez]

Then I will sell all my shares, so far they have kept their word with deadlines and pictures.

locked shares?  pictures before mining?  stamped blocks?  actually hashing?

All here

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.

[Vigil]

Guys if you are competent and you realize that you might miss a promised deadline you log in a couple of hours before and make sure to tell investors that you are the most sorry person in the world. and you then stay in the thread conversing with worried people making them at least feel better.

This is just horrible.

Exactly, only liars would not do this.

[N_S]

All here

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.

Mickey, I don't think you're understanding. We fully comprehend they said that. The question is: why are we to believe them when they make breaking promises a habit?

[MikeyVeez]

Guys if you are competent and you realize that you might miss a promised deadline you log in a couple of hours before and make sure to tell investors that you are the most sorry person in the world. and you then stay in the thread conversing with worried people making them at least feel better.

This is just horrible.

Exactly, only liars would not do this.

Yes stay in the thread all day along, and not build your business. If they bothered to do that, they would stay here all day long with the morons on here lmao, then I would be scared. Most of the scammers had one thing in common, they stayed in the thread all day long, because they had the time too, since they weren't building anything.

[aquarius]

Guys if you are competent and you realize that you might miss a promised deadline you log in a couple of hours before and make sure to tell investors that you are the most sorry person in the world. and you then stay in the thread conversing with worried people making them at least feel better.

This is just horrible.

Exactly, only liars would not do this.

yeah, what´s frustrating is that I have actually dealt with con-artists that have more respect than these guys.

[velacreations]

Burnside has already confirmed that the vast majority of Labcoin shares are owned by an account he knows to be controlled by Labcoin.

Burnside only confirmed that they have moved only 15% of those shares.  They can still move 10% and appear to be legit.  Selling 10% of those share right now would literally crash the market price.

Wouldn't you think that if it were a scam, the Labcoin account would try and get as much for those shares before they completely crashed?

unless they think they are getting away with it and can push the price higher with loose deadlines and no evidence


you are assuming that the only options are scam/no scam.  There is a 3rd and very likely option of "completely incompetent/hardware doesn't work"