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

[TMAN]

Slightly off topic TMAN.


You worried about something?


Maybe trying a little distraction?

I've just apologised in the other thread. 100% I can see how it came across. But there are some unanswered questions about if he was buying on the company account. I can assure you I am not worried, I can afford to lose everything I have invested here and have no intention of selling until December where I will sell some of my position

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[TMAN]

we will smash through 0.004 if active mining's CEO keeps up with the Insider trading. Labcoin are bad at communications, but at least they aren't scum like Ken

It seems very likely that Labcoin is insider trading based on the way announcements are always made after the share value declines.

Except the last "updates" didn't do anything except tank the price.  Simply saying everything is OK when they could easily prove what they're doing by giving the block reward address isn't going to help the price anymore, it's just going to hurt it.

I would imagine Labcoin and TheSweed are getting tons of angry PM's from people, and if they're legit it's probably driving them nuts and making them resentful of the doubters. Especially since the initial fud was COMPLETELY ridiculous nonsense about pixels on documents and all other sort of ridiculous b.s.

But, that's no excuse.  If they're having technical difficulties they need to be completely straightforward about it. Simply claiming that everything is fine, that they are hashing, but refusing to do so in a verifiable way just isn't cool.  Even if people think that they are hashing they might worry that the rewards are being embezzled.

If Labcoin loses more trust, they are going to permanently damage their share price as people won't invest even when they are hashing and have shown proof, worrying that they might be lying about other things.

We aren't regulated here, so people have to ask the questions. I personally feel that there are some teething issues happening, it's likely no big deal but labcoin should make us aware

[Ytterbium]

If the CEO is buying shares by insider trading isn't that great news? 

The way it works in the real world is that all insider trades are done publicly.  I think they're also supposed to be announced in advance in order to make sure that they're not using insider information about upcoming announcements  (i.e. Tim Cook isn't allowed to schedule his share purchases right before they announced the iPhone 6)

Unfortunately, the SEC is actually pretty lazy about enforcing rules.  Normally, people just get away with a fine or some bullshit. But the threat is enough to prevent people from just randomly spouting bullshit.

[limbaugh]

We aren't regulated here, so people have to ask the questions. I personally feel that there are some teething issues happening, it's likely no big deal but labcoin should make us aware

Teething issues? It doesn't bother you that he is outright lying about working hardware? He dodged every question of providing evidence of hashing. Now it's mid October before he will provide any?
So what does he gain from carrying on this charade?

[TMAN]

We aren't regulated here, so people have to ask the questions. I personally feel that there are some teething issues happening, it's likely no big deal but labcoin should make us aware

Teething issues? It doesn't bother you that he is outright lying about working hardware? He dodged every question of providing evidence of hashing. Now it's mid October before he will provide any?
So what does he gain from carrying on this charade?

Nothing, if it was a scam they would of run. Or used the news to trade the shares. They haven't done either, 100% mistakes have been made, I just hope they come out with a full and in depth update.

[limbaugh]

Nothing, if it was a scam they would of run. Or used the news to trade the shares. They haven't done either, 100% mistakes have been made, I just hope they come out with a full and in depth update.

So if it's not a scam it is their competence and integrity that is in question. Still a losing proposition for investors.

[Pale Phoenix]

If the CEO is buying shares by insider trading isn't that great news? 

The way it works in the real world is that all insider trades are done publicly.  I think they're also supposed to be announced in advance in order to make sure that they're not using insider information about upcoming announcements  (i.e. Tim Cook isn't allowed to schedule his share purchases right before they announced the iPhone 6)

Unfortunately, the SEC is actually pretty lazy about enforcing rules.  Normally, people just get away with a fine or some bullshit. But the threat is enough to prevent people from just randomly spouting bullshit.

Just to clarify, they have to be reported to the SEC within 2 days of the trade, not prior to the trade. In Bitcoinland, they have to be reported to TMAN. (Sorry TMAN, couldn't resist.)

[drawingthesun]

In Bitcoinland, they have to be reported to TMAN. (Sorry TMAN, couldn't resist.)

Thank Phoenix, the first good laugh I have had all evening!

[velacreations]

Except the last "updates" didn't do anything except tank the price.  Simply saying everything is OK when they could easily prove what they're doing by giving the block reward address isn't going to help the price anymore, it's just going to hurt it.

I would imagine Labcoin and TheSweed are getting tons of angry PM's from people, and if they're legit it's probably driving them nuts and making them resentful of the doubters. Especially since the initial fud was COMPLETELY ridiculous nonsense about pixels on documents and all other sort of ridiculous b.s.

But, that's no excuse.  If they're having technical difficulties they need to be completely straightforward about it. Simply claiming that everything is fine, that they are hashing, but refusing to do so in a verifiable way just isn't cool.  Even if people think that they are hashing they might worry that the rewards are being embezzled.

If Labcoin loses more trust, they are going to permanently damage their share price as people won't invest even when they are hashing and have shown proof, worrying that they might be lying about other things.

+1 exactly

I have been saying this for days, now.  No news is better than news without evidence.  Labcoin is it's worst enemy, at this point, and the credibility continues to erode.

btw, I have never owned ActM shares (or anything else related to that company).  I did own more than 50K Labcoin shares, but jumped ship when shit started getting hard to believe (right around ~.0038) around here.

[TMAN]

If the CEO is buying shares by insider trading isn't that great news? 

The way it works in the real world is that all insider trades are done publicly.  I think they're also supposed to be announced in advance in order to make sure that they're not using insider information about upcoming announcements  (i.e. Tim Cook isn't allowed to schedule his share purchases right before they announced the iPhone 6)

Unfortunately, the SEC is actually pretty lazy about enforcing rules.  Normally, people just get away with a fine or some bullshit. But the threat is enough to prevent people from just randomly spouting bullshit.

Just to clarify, they have to be reported to the SEC within 2 days of the trade, not prior to the trade. In Bitcoinland, they have to be reported to TMAN. (Sorry TMAN, couldn't resist.)

God I sounded like a proper Internet warrior, I was wrong in the most part ill admit that. But... Did he trade on 2 accounts?..

[lammedraak]

http://fc09.deviantart.net/fs51/i/2009/322/9/4/T_Man_is_here_by_VincentsValentine99.jpg

[klee]

Not enough weak hands to get my bid filled

Are you the same 'dopamine' as in the Mind & Muscle forum?

[TMAN]

Awesome love that

[zumzero]

TMAN apologised personally to Ken and retracted his statement accusing Ken of insider trading using company funds over on the ActM thread.

I have a new found respect for you TMAN.  Thanks. 

[TMAN]

TMAN apologised personally to Ken and retracted his statement accusing Ken of insider trading using company funds over on the ActM thread.

I have a new found respect for you TMAN.  Thanks. 

No problem I hope you can see that based n initial information it could of been taken as I saw it.

[zumzero]

TMAN apologised personally to Ken and retracted his statement accusing Ken of insider trading using company funds over on the ActM thread.

I have a new found respect for you TMAN.  Thanks. 

No problem I hope you can see that based n initial information it could of been taken as I saw it.

Yes, I can see it being open for interpretation and can understand why you were quick to judge.

[TMAN]

Cool want to have a virtual bro hug?...

[zumzero]

[TMAN]

Decent, I was a tit.

[kokojie]

TMAN you realize what we are all doing here is illegal right. Unlicensed securities and all...

um no? buying virtual shares of a company based in HongKong, I would imagine is completely legal in the United States.