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

[damiano]

970k out of the 7 million shares currently for sale

Not to bad considering what happened

[Mabsark]

They claim to be hashing with 2 Th/s and you have no evidence to prove otherwise.

notice that they didn't make that claim last night. In fact, they didn't mention ANYTHING about the supposedly 2 TH/s, even thought that is what the whole update was supposed to be about.

And they have not provided ANY evidence to suggest that claim is true.

They have, however, given us a lot of information that suggests it is untrue.

Information that suggests it's untrue? Such as what? Saying they'll provide an address after sorting the mine out?  

[velacreations]

970k out of the 7 million shares currently for sale

Not to bad considering what happened

24 hours volume: 1,314,494 shares
7 day volume: 3,337,559 shares

Not many are for sale, because most people already got out.

[velacreations]

Information that suggests it's untrue? Such as what? Saying they'll provide an address after sorting the mine out?  

such as refusing to post evidence yesterday, when they claimed they would.

They were going to update the website, remember?

Now, we hear: "hold until 30/10/2013"

[damiano]

970k out of the 7 million shares currently for sale

Not to bad considering what happened

24 hours volume: 1,314,494 shares
7 day volume: 3,337,559 shares

Not many are for sale, because most people already got out.

we will see

[klee]

And if they are not hashing, they are not hashing?!! so whats the problem? Go invest in ASICMINER; get lost!

I'm going to stay right here.

And say it again-

They are not hashing. They have nothing online.

They do not have an assembled board.

They never said they were not hashing. They just said 2TH but not 100% up time need tweaks. I'm perfectly fine holding on to LC. I do admit they need some PR lessons but things aren't looking too well on AM also.

I own both AM and LC.

Is your stomach ok?

[Bitcycle]

With no updates planned until October 30, this stock is in for 6 weeks of slow decline, at best.

[kokojie]

Okay, so you admit that they have chips and boards. Do you admit that it's possible that Labcoin could assemble that hardware and mine with it? If that's possible, then clearly it's illogical to insist that Labcoin are definitely not mining.

The missing chips from the tray suggest that some miners have been assembled.

They have shown things that looks like some chips and boards, but it means nothing.

How do we know they work? by mining with them, and how do we know they are mining, by seeing proof. Their update claim they have been mining with 2TH since over a week ago, and should be now at 4TH. Yet the most critical thing is actually showing us at least some proof (apparently live hash rate like what ASICMINER did is too much to ask?). We would've been content with a simple mining reward address, yet so far ZERO proof has shown.

[Mabsark]

Okay, so you admit that they have chips and boards. Do you admit that it's possible that Labcoin could assemble that hardware and mine with it? If that's possible, then clearly it's illogical to insist that Labcoin are definitely not mining.

The missing chips from the tray suggest that some miners have been assembled.

They have shown things that looks like some chips and boards, but it means nothing.

How do we know they work? by mining with them, and how do we know they are mining, but seeing proof. Their update claim they have been mining with 2TH since a week ago, and should be now at 4TH. Yet the most critical thing is actually showing us at least some proof (apparently live hash rate like what ASICMINER did is too much to ask?). We would've been content with a simple mining reward address, yet so far ZERO proof has shown.

You didn't get the proof you wanted, that doesn't mean they're not mining though. The fact that some chips are missing from the tray suggests that they are being used.

[drawingthesun]

I own both AM and LC.

If they have a rig why not post pictures?

[Bitcycle]

Okay, so you admit that they have chips and boards. Do you admit that it's possible that Labcoin could assemble that hardware and mine with it? If that's possible, then clearly it's illogical to insist that Labcoin are definitely not mining.

The missing chips from the tray suggest that some miners have been assembled.

They have shown things that looks like some chips and boards, but it means nothing.

How do we know they work? by mining with them, and how do we know they are mining, but seeing proof. Their update claim they have been mining with 2TH since a week ago, and should be now at 4TH. Yet the most critical thing is actually showing us at least some proof (apparently live hash rate like what ASICMINER did is too much to ask?). We would've been content with a simple mining reward address, yet so far ZERO proof has shown.

You didn't get the proof you wanted, that doesn't mean they're not mining though. The fact that some chips are missing from the tray suggests that they are being used.

Why do you assume the tray was ever  full?

[drawingthesun]

You didn't get the proof you wanted, that doesn't mean they're not mining though. The fact that some chips are missing from the tray suggests that they are being used.

Some chips missing from the tray? Thats enough to get you invested in something?

Send 200 bitcoin to 1BkcBNxVGrYhA1aGjiYRZkJr1Weh6Qs2KS and I will return 500 bitcoin.

[tucenaber]

Not many are for sale, because most people already got out.

And what do you think did they with their shares? Burned them?

[Zakryze]

I own both AM and LC.

If they have a rig why not post pictures?

because they want only true fanboys like mabsark to stay with them, its obvious ^^

[Mabsark]

I own both AM and LC.

If they have a rig why not post pictures?

No idea.

Look at this picture though. Notice how some of the chips are missing?



The obvious reason for those chips being missing is because they are being mined with.

It's funny the way none of the FUD-spreaders can come up with a logical argument against this.

[velacreations]

You didn't get the proof you wanted they promised

FTFY

[kokojie]

Okay, so you admit that they have chips and boards. Do you admit that it's possible that Labcoin could assemble that hardware and mine with it? If that's possible, then clearly it's illogical to insist that Labcoin are definitely not mining.

The missing chips from the tray suggest that some miners have been assembled.

They have shown things that looks like some chips and boards, but it means nothing.

How do we know they work? by mining with them, and how do we know they are mining, but seeing proof. Their update claim they have been mining with 2TH since a week ago, and should be now at 4TH. Yet the most critical thing is actually showing us at least some proof (apparently live hash rate like what ASICMINER did is too much to ask?). We would've been content with a simple mining reward address, yet so far ZERO proof has shown.

You didn't get the proof you wanted, that doesn't mean they're not mining though. The fact that some chips are missing from the tray suggests that they are being used.

You seem to talk a lot about what's logical or illogical.  So is it logical that if they are indeed been mining with 2TH for over a week, that they refuse to provide a single thread of proof that they are mining and let their share price to be cut in half? Keep in mind proving they are mining is extremely easy, takes no more than 5 minutes.

[crumbs]

ITT:  Dumbstruck mother running her fingers through bloody bits of brain and bone, chanting between shrieks: "You'll be 0K, honey, it's ok, you're ok ok? baby you'll be ok oh god oh god."

She won't be comforted or lead away from the grisly scene -- the only kind thing left to do is leave, quietly closing the door behind you.

[Bitcycle]

It's ridiculous to argue about whether they're mining or not.


They are not.

[drawingthesun]

The obvious reason for those chips being missing is because they are being mined with.

It's funny the way none of the FUD-spreaders can come up with a logical argument against this.

If they have a rig, then posting the rig and assembled boards makes more sense than posting these parts. (In fact why not just post both?)

There is no evidence pointing towards a 2TH/s rig existing at all. Its likely the missing chips have been taken off to do hash testing (and they got a few to hash) but no combined rig exists and their 2TH/s claim comes from a expectation that full assembly would have been far easier than it actually is.

Have they actually been solomining with a 2TH/s rig? I don't think so. Have they taken some chips and managed to maybe get them to hash? Perhaps.