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

[salviel]

I don't understand you guys.

First you complain that solo mining isn't effective at such low TH rates, and then when Labcoin capitulates and states they will pool mine, you complain that then you can't be sure that they are mining or just depositing to the address.

Could everyone who isn't holding Labcoin shares please go the fuck away.

If you claim 'white knight indignance' and that you are here to 'protect investors', then take your shit up with Burnside.

This forum is so full of stupid it is making my router sick to it's kernel.  

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[zumzero]

I don't understand you guys.

First you complain that solo mining isn't effective at such low TH rates, and then when Labcoin capitulates and states they will pool mine, you complain that then you can't be sure that they are mining or just depositing to the address.

Could everyone who isn't holding Labcoin shares please go the fuck away.

If you claim 'white knight indignance' and that you are here to 'protect investors', then take your shit up with Burnside.

This forum is so full of stupid it is making my router sick to it's kernel.  

Very poetic.  Now get back in fucking line and let the big boys sort this shitty mess out once and for all.  Where is TheSwede to answer these many questions?  Eh!?

[dexX7]

They are going to mine on a pool. How hard is that to understand? The revenue will end up in the specified address. But not as freshly minted coins of course since whole blocks only goes to solo miners.

It's hard to understand, because this is contradicting previous announcements and furthermore it would be more reasonable to tell us which pool + user.

Edit:

I am going to let the mining speak for itself when the pool merge is complete. I would like to note however that even with 5+ TH solo-mining it can easily take 2+ days to find a block due to variance, hence the move to pool-mining.

You were right. Though I have to ask: what value does a Bitcoin address have with Bitcoin moved there, if there is no guarantee, that those coins were mined?

[limbaugh]

Hop on the pain train while you can, price is rising! lol

[kingcrimson]

Pretty sure I do. Considering I simply report what the team relays to me as information, I would consider it perfectly within my right to think that thinly veiled personal threats are in bad taste.

Dude seriously you better have your bills sorted out because you will get a knock at the door from your local Fraud Squad as soon as the shit hits the fan and you wont see your family or friends for a very long time. Do you know how long a jail sentence you would get for conspiracy in a 5Million dollar fraud? You might even end up in a US prison (if you are in Sweden). Personally I'd rather be dead than spend 20years in a US prison.

The sad part is TheSwede doesn't even know it is a scam, but the courts won't buy it for a second.

[kokojie]

Actually he said they are going to mine in a pool, so you can't see newly generated coins on that address.

I don't understand. Are they allegedly solo mining or pool mining?

This is fuzzy:

... and users will be able to view the mined coins through pool and this address:

https://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trm

I have asked Sam to sign the address so that it can be proven without a doubt that Labcoin is indeed the entity mining.

According to Sam the initial hash rate will be 'a few' TH and will be scaled up in the coming days as more miners come online.

TLDR; Pool mining is being integrated and will be running in the next few hours (less than 12). Address provided above will be used for mining and will be signed as proof. Initial mining will be 'a few' TH and scaled up in the coming days.

They claim they were supposedly solo mining with at least 2TH since 2 weeks ago, so we demanded a "mining address" to see all the newly generated block rewards. So after 2 weeks, finally they post an "address" that has zero bitcoins, now they conveniently switch to pool mining, which makes the "mining address" useless in terms of proof of mining. I bet they don't have a public stat page from the pool neither.

It's possible that they tried to mine and thought they were mining when they made their update and then ran into some issues. Let's be reasonable.

I'm very reasonable, pool mining? no problem, let's see a public stat page or json stats, which almost all pools provide. Actually 2TH will make them top miners on most pools except maybe btcguild, if I see "labcoin" as one of the top miners, I'd be totally fine with that.

[dhenson]

I don't understand you guys.

First you complain that solo mining isn't effective at such low TH rates, and then when Labcoin capitulates and states they will pool mine, you complain that then you can't be sure that they are mining or just depositing to the address.

Could everyone who isn't holding Labcoin shares please go the fuck away.

If you claim 'white knight indignance' and that you are here to 'protect investors', then take your shit up with Burnside.

This forum is so full of stupid it is making my router sick to it's kernel.  

+1

Thank you.  I've ignored so many people now, most pages have like 1 readable post.  The problem isn't with Labcoin, it's with this thread and the idiots that manipulate the stock price.

When Labcoin surpasses AM in % of total network hash rate (for admittedly a brief period in October) they will have some other reason to complain.

[kokojie]

Pretty sure I do. Considering I simply report what the team relays to me as information, I would consider it perfectly within my right to think that thinly veiled personal threats are in bad taste.

Dude seriously you better have your bills sorted out because you will get a knock at the door from your local Fraud Squad as soon as the shit hits the fan and you wont see your family or friends for a very long time. Do you know how long a jail sentence you would get for conspiracy in a 5Million dollar fraud? You might even end up in a US prison (if you are in Sweden). Personally I'd rather be dead than spend 20years in a US prison.

The sad part is TheSwede doesn't even know it is a scam, but the courts won't buy it for a second.

I'm sure he does, he was paid 950BTC directly from the IPO funds, how can he not know it's a scam.

[Pale Phoenix]

you tell me how else you want to spin it

He knows what is the description of this security- he knows labcoin have not locked the shares they promised, and he refuses to do it.. he knows the withdrawal address and can easily follow what happened to the funds to realise labcoin story is a lie. funds are not spent on 130nm chip.

but he is not doing it.. he is whistling and saying 'can't hear you', see no evil and all that, because it's a cash cow.

There's no "spinning" required. You have no idea what happened to the funds after they were withdrawn, and they were never slated to be spent on development of the 130chip as Labcoin has always maintained that they paid those costs prior to the IPO.

Edit: left out an important word

[TsuyokuNaritai]

Well, I hope Wednesday lived up to everyone's expectations. Same time next week?

[hobbymd]

I don't understand you guys.

First you complain that solo mining isn't effective at such low TH rates, and then when Labcoin capitulates and states they will pool mine, you complain that then you can't be sure that they are mining or just depositing to the address.

Could everyone who isn't holding Labcoin shares please go the fuck away.

If you claim 'white knight indignance' and that you are here to 'protect investors', then take your shit up with Burnside.

This forum is so full of stupid it is making my router sick to it's kernel.  

+1

Thank you.  I've ignored so many people now, most pages have like 1 readable post.  The problem isn't with Labcoin, it's with this thread and the idiots that manipulate the stock price.

+100

[zumzero]

I don't understand you guys.

First you complain that solo mining isn't effective at such low TH rates, and then when Labcoin capitulates and states they will pool mine, you complain that then you can't be sure that they are mining or just depositing to the address.

Could everyone who isn't holding Labcoin shares please go the fuck away.

If you claim 'white knight indignance' and that you are here to 'protect investors', then take your shit up with Burnside.

This forum is so full of stupid it is making my router sick to it's kernel.  

+1

Thank you.  I've ignored so many people now, most pages have like 1 readable post.  The problem isn't with Labcoin, it's with this thread and the idiots that manipulate the stock price.

When Labcoin surpasses AM in % of total network hash rate (for admittedly a brief period in October) they will have some other reason to complain.

Freidcat will have something to say about that.

[NineLives]

Hi guys,

I'm soo lost with all the crap on the posts with fighting..

Can someone in brief give us an update?

Ta

[Zakryze]

I don't understand you guys.

First you complain that solo mining isn't effective at such low TH rates, and then when Labcoin capitulates and states they will pool mine, you complain that then you can't be sure that they are mining or just depositing to the address.

Could everyone who isn't holding Labcoin shares please go the fuck away.

If you claim 'white knight indignance' and that you are here to 'protect investors', then take your shit up with Burnside.

This forum is so full of stupid it is making my router sick to it's kernel.  

+1

Thank you.  I've ignored so many people now, most pages have like 1 readable post.  The problem isn't with Labcoin, it's with this thread and the idiots that manipulate the stock price.

+100

ignorance ftw. run around like a horse with blinders will get you far...

[twentyseventy]

Hi guys,

I'm soo lost with all the crap on the posts with fighting..

Can someone in brief give us an update?

Ta

LC provided an empty address, Sam will be signing a message with it soon.

[KCBitcoin]

Hi guys,

I'm soo lost with all the crap on the posts with fighting..

Can someone in brief give us an update?

Ta

LC provided an empty address, Sam will be signing a message with it soon.

[zumzero]

Hi guys,

I'm soo lost with all the crap on the posts with fighting..

Can someone in brief give us an update?

Ta

Another broken promise.  Another missed deadline.  Another share price crash.  Another day at the office for Labcon.

[Stuartuk]

I'm sure he does, he was paid 950BTC directly from the IPO funds, how can he not know it's a scam.

?

Is that true? If so he's going down no question. Jesus.

[Pale Phoenix]

Well, I hope Wednesday lived up to everyone's expectations. Same time next week?

Price swings were too small to capture more than a few hundred dollars in profit so, no it didn't meet expectations. Labcoin needs a dedicated thread for announcements because it takes too much time to keep up with things as it is now.

[dexX7]

Hi guys,

I'm soo lost with all the crap on the posts with fighting..

Can someone in brief give us an update?

Ta

Here you go:

https://bitcointalk.org/index.php?action=profile;u=90389;sa=showPosts