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

[KCBitcoin]

Swede, don't screw us on the announcement... we have someone else on deck for the PR job. 

LOL, nice name of the someone's.

[Ytterbium]

Nice of them to provide an exact time. Sure helps with choosing appropriate option contracts.

The options contracts available are insanely overpriced. The premium is typically bigger then the strike price so the price has to either go up by 50% or down by 90% to make a profit off of them.

[Pale Phoenix]

Swede, don't screw us on the announcement... we have someone else on deck for the PR job. 

LOL, nice name of the someone's.

LOL I happened to see him posting on the forum earlier and had to figure a way to wiggle it into this thread.

[creativex]

Nice of them to provide an exact time. Sure helps with choosing appropriate option contracts.

The options contracts available are insanely overpriced. The premium is typically bigger then the strike price so the price has to either go up by 50% or down by 90% to make a profit off of them.

Agree.

[wickedgoodtrader]

This is fucking gold

[velacreations]

so, are they gonna say big plans ahead, 10000000 TH/s on it's way, only thing is, gotta wait until November... 

[kingcrimson]

Well at least there is no more middle ground, they either provide proof of hashing or it's a 'black friday' rush to exit.

[limbaugh]

Well at least there is no more middle ground, they either provide proof of hashing or it's a 'black friday' rush to exit.

TheSwede isn't stupid, he knows the consequences if Sam does not deliver something substantial. Keep your eye out for large sell orders before the announcement. LOL

[velacreations]

Well at least there is no more middle ground, they either provide proof of hashing or it's a 'black friday' rush to exit.

TheSwede isn't stupid, he knows the consequences if Sam does not deliver something substantial. Keep your eye out for large sell orders before the announcement. LOL

oh, you know there are gonna be sell orders.  The price will rise for a while, and then people will jump ship thinking "what if they miss ANOTHER deadline?!?!"

and really, what are they gonna show?  they are not mining.  And if they show proof of that tomorrow, it will be that they just started mining within the last day.

So, what is it going to be?  "sorry for lying to everyone, but the duct tape is holding, now!"

[limbaugh]

Well at least there is no more middle ground, they either provide proof of hashing or it's a 'black friday' rush to exit.

TheSwede isn't stupid, he knows the consequences if Sam does not deliver something substantial. Keep your eye out for large sell orders before the announcement. LOL

oh, you know there are gonna be sell orders.  The price will rise for a while, and then people will jump ship thinking "what if they miss ANOTHER deadline?!?!"

and really, what are they gonna show?  they are not mining.  And if they show proof of that tomorrow, it will be that they just started mining within the last day.

So, what is it going to be?  "sorry for lying to everyone, but the duct tape is holding, now!"

If they are hashing, I suspect that will be enough for many. Even might see a spike. If they aren't hashing the remainder of their funds will be used to hire a legal team and body guards. LOL

[N_S]

This is going to be very interesting. Personally, I'm envisioning a mass exodus. People just falling all over themselves in an effort to salvage some sort of profit/loss limit.

[Bitcycle]

Well at least there is no more middle ground, they either provide proof of hashing or it's a 'black friday' rush to exit.

TheSwede isn't stupid, he knows the consequences if Sam does not deliver something substantial. Keep your eye out for large sell orders before the announcement. LOL

oh, you know there are gonna be sell orders.  The price will rise for a while, and then people will jump ship thinking "what if they miss ANOTHER deadline?!?!"

and really, what are they gonna show?  they are not mining.  And if they show proof of that tomorrow, it will be that they just started mining within the last day.

So, what is it going to be?  "sorry for lying to everyone, but the duct tape is holding, now!"

Yeah, people are gonna jump just before. People always do.

[velacreations]

Yeah, people are gonna jump just before. People always do.

well, would you count on this team delivering?

I guess it might be possible to fake hashing, but you can't fake the blockchain.  And there's nothing there.

So, what have they been doing since they lied to everyone?  Spending those IPO funds?

[velacreations]

If they are hashing, I suspect that will be enough for many.

they aren't hashing.  Look at the blockchain.  Where's the blocks?  They don't exist.  You know why?  Labcoin is not hashing.

let me repeat that just so everyone is clear on what is going on:

LABCOIN IS NOT HASHING

anything that says otherwise will show that their hardware doesn't work or their software running the hardware doesn't work or the people behind everything don't work. In reality, "why" doesn't matter, cause no hashing = overvalued, plain and simple.

And tomorrow, we'll hear an excuse and more promises for the future, but we won't hear why the shares are still unlocked, why they haven't been hashing, and why they lied about hashing.

[demzie]

hahahaha vela vela vela trol trol trol.. serious get a life or something..

[BitThink]

Yeah, people are gonna jump just before. People always do.

well, would you count on this team delivering?

I guess it might be possible to fake hashing, but you can't fake the blockchain.  And there's nothing there.

So, what have they been doing since they lied to everyone?  Spending those IPO funds?

If they planned to fake, there will be no delay. The real risk is not pure scam, but the failure of the chips/boards/softwares. Labcoin announced previously the update will be given during the weekends, now TheSweden gave a better time, the Friday evening. It means either the problem can be solved in the next day, or they gave up and don't think they will solve it even with two more days.

[BitCsByBit]

If they are hashing, I suspect that will be enough for many.

they aren't hashing.  Look at the blockchain.  Where's the blocks?  They don't exist.  You know why?  Labcoin is not hashing.

let me repeat that just so everyone is clear on what is going on:

LABCOIN IS NOT HASHING

anything that says otherwise will show that their hardware doesn't work or their software running the hardware doesn't work or the people behind everything don't work. In reality, "why" doesn't matter, cause no hashing = overvalued, plain and simple.

And tomorrow, we'll hear an excuse and more promises for the future, but we won't hear why the shares are still unlocked, why they haven't been hashing, and why they lied about hashing.

It feels like someone is trying to push the price down to buy back in.

Typical sellers remorse!

[Ytterbium]

If they are hashing, I suspect that will be enough for many.

they aren't hashing.  Look at the blockchain.  Where's the blocks?  They don't exist.  You know why?  Labcoin is not hashing.

let me repeat that just so everyone is clear on what is going on:

LABCOIN IS NOT HASHING

Well, there's this transaction  The coinbase is unsigned, and the coins where sent to 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C, which had never received coins before. It was found a little over 7 hours ago.

If they are hashing at 2Th/s, there's a about a 78% chance they'll have found a block after 72 hours. Another 22h brings that likelyhood up to about 87% (going by slush's pool's CDF graph)

Anyway, all they need to show are 1: pictures of boards, and 2: an address that they are sending rewards too.

As I was saying earlier, if this was actually a scam they would come up with a hashrate on a pool and some pictures long ago. They'd just need to buy a bunch of bitfury chips and slowly bring them online to and eligus account

Photos of boards would be equally easy to do, just have some actual PCBs made with fake chips.  You can get PCBs made within 24 hours.

So if it's a scam, why aren't they doing those things?

If they're not a scam, they may be having technical difficulties. If they are should explain the problem and what they're doing to fix it. Stock price may decline but I doubt it will completely crater.

[BitThink]

If they are hashing, I suspect that will be enough for many.

they aren't hashing.  Look at the blockchain.  Where's the blocks?  They don't exist.  You know why?  Labcoin is not hashing.

let me repeat that just so everyone is clear on what is going on:

LABCOIN IS NOT HASHING

anything that says otherwise will show that their hardware doesn't work or their software running the hardware doesn't work or the people behind everything don't work. In reality, "why" doesn't matter, cause no hashing = overvalued, plain and simple.

And tomorrow, we'll hear an excuse and more promises for the future, but we won't hear why the shares are still unlocked, why they haven't been hashing, and why they lied about hashing.

Even AM faced the deploy problem and the hashing was delayed weeks. The point is not always no delay, but to be honest and transparent. If they admit they have some problems and hashing is not stable, or the chip is under performed. The price will dip in short term, but the project will be still live. As long as the 65nm chips succeed, we can still wish a happy end.

On the contrary, if they still provide empty words and promise for future without any frankness. It may at best postpone the end of this project for a couple of days.

[wickedgoodtrader]

Well at least there is no more middle ground, they either provide proof of hashing or it's a 'black friday' rush to exit.

TheSwede isn't stupid, he knows the consequences if Sam does not deliver something substantial. Keep your eye out for large sell orders before the announcement. LOL

LOL... there is no fucking "Sam"