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

[velacreations]

remember this?

where's Mabsark?

I'm still here, watching, waiting and laughing my arse off at you gullible fools who keep selling based on FUD, while the actual FUD spreaders are snapping up cheap shares.

[velacreations]

SCAMMING 101:

1. Raise 800k
2. Buy 2TH worth of Avalons/BFL
3. Pay dividends for a month
4. Dump shares

Labcoin is a scam though, rigggggght.

shit, they're so incompetent, they can't even run a scam right!
 

[AngelSky]

The SEC would be a good and fresh start yes.

Go play on the NASDAQ then. Sheesh. Keep your precious three letter agencies out of our backyard.

Don't you realize that the bitcoin world will not be unregulated forever ? Do you think you will be able to wake up one day ?

[JohnyBigs]

I have came to the conclusion that Labcoin will pay its dividend on time.

Because Labcoin is not a mining company, but rather a PSMCP company.

What's a PSMCP company?

A Perpetual Share Manipulation Cycle and Profit company.

The shareholders will receive a dividend from the tears of manipulated shareholders. In fact you can expect to receive your day trading loses back as a dividend!

Of course they will be "mining" without proof because the money will never even leave BTCT.co and so it will never hit the blockchain.

Yes indeed because there is so much volume to sucessfully pull this off in a thinly traded market. And these guys are so sophisticated that they cant manipulate the price extremly high, but just range trade.

Secondly, they are so smart that they couldnt just buy hashing equipment and make their lives easier. Such genius remarks you have posted lol

[matt4054]

Someone please help it get over 0.003 again, The Show Must Go On! I guess.

More seriously, I see no reason to buy that stock in the short term (they said themselves nothing would come out before 6 weeks... 3x Two Weeks *cough*), and neither in the long run: the difficulty is going up crazy, about 50% a month, and there will likely be several flavours of 28nm ASICs not even in six weeks... so do the math!

They act like if the hold up doesn't matter, like if difficulty wasn't playing a crucial role in a matter of weeks *now*, not in 6 weeks. Well anyway... people will say they will put more hardware, but what kind of hardware, what profitability in 1, 2, 3, 6, 12 months?

Anyway...I'm out already. I was really disappointed in tonight announcement, obviously. Maybe the future will prove me wrong but I consider holding being at risk atm, sorry for supporters (and holders...)

[drawingthesun]

Yes indeed because there is so much volume to sucessfully pull this off in a thinly traded market.

7 day volume on BTCT.co for Labcoin is more than all the funds raised at IPO.

This is not a thin amount of volume relative to the size of Labcoin.

[drawingthesun]

Labcoin is a scam though, rigggggght.

Why not ask Labcoin for an explanation to the lie? Can you even defend the lie?

[velacreations]

Secondly, they are so smart that they couldnt just buy hashing equipment and make their lives easier. Such genius remarks you have posted lol

no, you're right, they even suck at scamming.

[redbeans2012]

I just dont understand why he has to lie.

I do believe that they have chips made, I do believe they have boards made.

I'm sure most here would understand if they say they are behind schedule getting the shit together.

Is it a sign of weakness to miss a deadline in china or something?

[AngelSky]

I just dont understand why he has to lie.

I do believe that they have chips made, I do believe they have boards made.

I'm sure most here would understand if they say they are behind schedule getting the shit together.

Is it a sign of weakness to miss a deadline in china or something?

What everyone was expecting from this update was honesty (even for bad news). We got bullshit (it's a choice). The price is the consequence. /end

[drawingthesun]

I just dont understand why he has to lie.

I do believe that they have chips made, I do believe they have boards made.

I'm sure most here would understand if they say they are behind schedule getting the shit together.

Is it a sign of weakness to miss a deadline in china or something?

Instead of posting unassembled chips they can post the assembled boards and the entire mining rig. That would have been a good start.

They must have the rig assembled because they said they were hashing last week.

[pheaonix]

Someone please help it get over 0.003 again, The Show Must Go On! I guess.

More seriously, I see no reason to buy that stock in the short term (they said themselves nothing would come out before 6 weeks... 3x Two Weeks *cough*), and neither in the long run: the difficulty is going up crazy, about 50% a month, and there will likely be several flavours of 28nm ASICs not even in six weeks... so do the math!

They act like if the hold up doesn't matter, like if difficulty wasn't playing a crucial role in a matter of weeks *now*, not in 6 weeks. Well anyway... people will say they will put more hardware, but what kind of hardware, what profitability in 1, 2, 3, 6, 12 months?

Anyway...I'm out already. I was really disappointed in tonight announcement, obviously. Maybe the future will prove me wrong but I consider holding being at risk atm, sorry for supporters (and holders...)

take the opportunity to buy cheap activemining shares man!

we have actually met ken in person and nothing has risen suspicion, the share price is low because some whales decided to dump out of nowhere and weak hands followed.

[Vigil]

I just dont understand why he has to lie.

I do believe that they have chips made, I do believe they have boards made.

I'm sure most here would understand if they say they are behind schedule getting the shit together.

Is it a sign of weakness to miss a deadline in china or something?

Instead of posting unassembled chips they can post the assembled boards and the entire mining rig. That would have been a good start.

They must have the rig assembled because they said they were hashing last week.

Then why wouldn't they post a picture of the rig?

[JohnyBigs]

Labcoin is a scam though, rigggggght.

Why not ask Labcoin for an explanation to the lie? Can you even defend the lie?

Dont need to defend anything. For all I care they could of lied because they are behind and dont want to disappoint anyone. Whatmatters Iis they have chips and boards that will put out 500TH in a few months.

Or they had 2TH running for awhile and they ran into problems. Either way 2TH or 10TH mining right now is useless with the big picture of 500TH.

[velacreations]

Europe wakes up in 3-4 hours.  Get ready for round 2.

[matt4054]

we have actually met ken in person and nothing has risen suspicion, the share price is low because some whales decided to dump out of nowhere and weak hands followed.

You mean it's not related to a tremendously disappointing announcement?

[AngelSky]

Friendly reminder, mining profits per hash/sec:

Do you understand what it means ? If you do, are you sure you want to invest in mining companies like labcoin that cannot assemble one or two chips with a board together ?

[somestranger]

Labcoin is a scam though, rigggggght.

Why not ask Labcoin for an explanation to the lie? Can you even defend the lie?

Dont need to defend anything. For all I care they could of lied because they are behind and dont want to disappoint anyone. Whatmatters Iis they have chips and boards that will put out 500TH in a few months.

Or they had 2TH running for awhile and they ran into problems. Either way 2TH or 10TH mining right now is useless with the big picture of 500TH.

Why would you believe their projections if they already lied about having 2TH running?

[Bitcycle]

Here's the most charitable version of things I can imagine-

They do have assembled boards, and they did kinda sorta hash for a while. But there was some sort of issue and the chips are not hashing at any meaningful level at present.

They took pictures for internal use when the chips and boards came in. For reasons beyond our comprehension, they thought that would suffice. Maybe they're naive Chinese engineers who have never even seen examples of decent PR, much less done it themselves.  I don't know.  


But they thought the proud shot of chips and boards arriving, which made them happy as it is indeed a milestone to have your own chips and own boards in your own company, they thought that would work for us too.

I don't think they're close to being operational, though, even if I'm as charitable as I can possibly be about the pictures.

[drawingthesun]

Or they had 2TH running for awhile and they ran into problems. Either way 2TH or 10TH mining right now is useless with the big picture of 500TH.

You are not understanding me are you? Its ok if they were hashing and then it broke, fine!

But they should at least have a mining rig and assembled boards to get that far. And then photos would be easy.

Unless they lied and have never assembled and never hashed.