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

[Ukyo]

My thoughts are that if Labcoin has been mining some for the last week or two, why not post the address that has those mined coins?
No matter what, forwarding those coins to any address to get into the investors hands will be traceable. I do not see a need to try to hide that address.
Labcoin could use a mixer, but what would be gained by keeping that address so secret?

Or is the intention not to pay out coins mined prior to this new address or some other event?

-Ukyo

[dexX7]

Of course anyone can create and sign an address, I do not expect this to do anything until the point that mining starts. However I figured it was best to have it done before mining starts just to 'have it done'.

Look, the problem now is that this address might receive coins followed by an announcement that mining is running successful, but that does not proof anything.

Please, instead of countering, just take a second and see this from my point of view. Do you see the problem here?

[KCBitcoin]

Update:


Just a small update with the address signed so that there is less confusion and fud when pool mining is running.

Message: Labcoin mining address
Signature: HJRjzVPG3CC5OjInesByNcdfkI2kz6hONR3LjVUABUVDq03Z3ARcmEfdXWeJwzX0zUqoWkyx1rNjmps CuP8cWQA
Address: 17psAW21J4twanAFWmbcd5WdX2pKeX3trm

So do we expect fresh block rewards showing up here or a public username on a pool?

^^

[Bitcycle]

Wow he signed the address that can prove nothing thats perfect, hold on let me open Bitcoin-QT I can do the exact same thing by creating new receiving address and signing it,

Of course anyone can create and sign an address, I do not expect this to do anything until the point that mining starts. However I figured it was best to have it done before mining starts just to 'have it done'.

To be crystal clear- The mining pool and the user name will be public info and we'll all be able to see the hashrate directly for ourselves.

Correct?

[velacreations]

Guys they will be hashing on a pool soon. Quick must do the most retarded thing possible, must sell shares now.

I thought they have been hashing since Sep 10, that's what they said?!?!

[ajk]

If the company actually created the mining hardware why are they not jumping for joy trying to give us proof of the machines, as soon as FC created Block eruptors, USB miners, we had pics why can you not do the same thing if you are mining,

You created exactly what the prospect of the IPO had stated yet you are hesitant to show us pictures of the very machines that investors invested in the company for,

Seriously man? You bought rolex's and stuff for your friends? if they had the cash for it why would they not just go to a store like a regular person and purchase it,you got caught red handed then denied the fact that the addresses were yours, it would make more sense that someone who never had a dime prior to receiving what some would consider life changing money and then spending it because your old as dirt and have never had money before

[Ytterbium]

They said they would post the mining address, and they did.  So they did actually follow through on their promise. Of course, since that address doesn't have any blocks found it would seem like they're having some technical difficulties so far. But they did do what they said they would do, and now people will be able to verify their hashrate.

[well.attenuated]

My thoughts are that if Labcoin has been mining some for the last week or two, why not post the address that has those mined coins?
No matter what, forwarding those coins to any address to get into the investors hands will be traceable. I do not see a need to try to hide that address.
Labcoin could use a mixer, but what would be gained by keeping that address so secret?

Or is the intention not to pay out coins mined prior to this new address or some other event?

-Ukyo

That would be this address: 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C

[tucenaber]

The level of stupidity on this thread continues to amaze me. Someone just signs a BTC address, and folks start believing Labcoin is mining!

Deadlines after deadlines pass, yet they can't gather a camera and a half ounce brain to take a picture of the equipment or mining in progress.

I'm not particularly worried about pretend mining, but how about thinking about the more plausible scenario:

Some fraction of the hashrate is diverted for private use. There is no way of knowing if 100% is accounted for, unless Labcoin arranges some kind of auditing. Can we get a policy for this?

[Stuartuk]

http://bizcovering.com/investing/stock-market-chart-and-price-jargon-revealed/

Price Movements
Tree Shakes – if you hold shares in a company and the price starts to drift downwards, you need to check two things. Firstly check the date and make sure it is not ex-dividend day – your share price will drop by the same amount as the dividend, and this is fine. Secondly, scour the news for reasons why the sp might be dropping. If you can’t find any good reason, then the chances are that you are witnessing a “tree shake”. When a market maker is trying to fill a large institutional buy order, sometimes they may not have enough shares. They start to gradually drop the share price in order to “scare” people into thinking the company has a problem. Weak holders will sell up, and the market maker continues to drop the price until enough weak holders have relinquished their shares. The market maker then fulfils its large order and returns the share price to where it started. Be eagle-eyed for all news relating to companies you hold shares in, and you’ll be better able to spot tree shakes and not get caught out.

Yes, I heard the Bank of Japan is interested in LC, lol you fool.

[velacreations]

Of course anyone can create and sign an address, I do not expect this to do anything until the point that mining starts.

Finally!!!!  Some truth!

They are not mining and have not been mining since Sep 10, even though they stated otherwise several times!

If they would lie for more than a week about so simple as to whether they are mining or not, how can we trust them that any of the MORE COMPLICATED promises will be kept? You know, like locking shares, paying dividends, buying hardware, assembling hardware, and mining with assembled hardware??!!

This is, perhaps, the most significant piece of information of this whole thread.  Not only have they lied directly to the shareholders a number of times, they covered it up, and STILL don't have anything to show for the vast amount of money invested in this venture.

[velacreations]

My thoughts are that if Labcoin has been mining some for the last week or two, why not post the address that has those mined coins?
No matter what, forwarding those coins to any address to get into the investors hands will be traceable. I do not see a need to try to hide that address.
Labcoin could use a mixer, but what would be gained by keeping that address so secret?

Or is the intention not to pay out coins mined prior to this new address or some other event?

-Ukyo

yeah, I agree, Ukyo.  The problem is, they HAVEN'T been mining, and just admitted it!

[velacreations]

They said they would post the mining address, and they did.  So they did actually follow through on their promise. Of course, since that address doesn't have any blocks found it would seem like they're having some technical difficulties so far. But they did do what they said they would do, and now people will be able to verify their hashrate.

current hash rate: 0

[Luckybit]

Of course anyone can create and sign an address, I do not expect this to do anything until the point that mining starts.

Finally!!!!  Some truth!

They are not mining and have not been mining since Sep 10, even though they stated otherwise several times!

If they would lie for more than a week about so simple as to whether they are mining or not, how can we trust them that any of the MORE COMPLICATED promises will be kept? You know, like locking shares, paying dividends, buying hardware, assembling hardware, and mining with assembled hardware??!!

This is, perhaps, the most significant piece of information of this whole thread.  Not only have they lied directly to the shareholders a number of times, they covered it up, and STILL don't have anything to show for the vast amount of money invested in this venture.

You caught him.

But that doesn't mean it's purposeful. It could be that mining just didn't work when they tried it and had to stop. They did mention that it wasn't very reliable.

[oxideNL]

My thoughts are that if Labcoin has been mining some for the last week or two, why not post the address that has those mined coins?
No matter what, forwarding those coins to any address to get into the investors hands will be traceable. I do not see a need to try to hide that address.
Labcoin could use a mixer, but what would be gained by keeping that address so secret?

Or is the intention not to pay out coins mined prior to this new address or some other event?

-Ukyo

That would be this address: 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C

  Sigh,.. those dates do add up. and the interval is pretty close to 1~5 th
And what ukyo said also crossed my mind multiple times, adding those two together it's pretty plausible

[Ukyo]

My thoughts are that if Labcoin has been mining some for the last week or two, why not post the address that has those mined coins?
No matter what, forwarding those coins to any address to get into the investors hands will be traceable. I do not see a need to try to hide that address.
Labcoin could use a mixer, but what would be gained by keeping that address so secret?

Or is the intention not to pay out coins mined prior to this new address or some other event?

-Ukyo

That would be this address: 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C

Heya, thanks for the address.
This does appear to have generated coins.
Do you have proof this is from Labcoin?
(I may have missed a post, there are quire a few.) But if LabCoin had posted this, people would not be arguing if LC is mining or not.
Or was this an address that was found to be mining and is guesswork?

Thanks,
Ukyo

[Zakryze]

If the company actually created the mining hardware why are they not jumping for joy trying to give us proof of the machines, as soon as FC created Block eruptors, USB miners, we had pics why can you not do the same thing if you are mining,

You created exactly what the prospect of the IPO had stated yet you are hesitant to show us pictures of the very machines that investors invested in the company for,

Seriously man? You bought rolex's and stuff for your friends? if they had the cash for it why would they not just go to a store like a regular person and purchase it,you got caught red handed then denied the fact that the addresses were yours, it would make more sense that someone who never had a dime prior to receiving what some would consider life changing money and then spending it because your old as dirt and have never had money before

They dont want to make you happy, they want to get rich.

[Anotheranonlol]

I have already stated very publicly that the accusation is 100% false. Anyone who reads the threads in question will also realize that the inquiries for watch/car were not made for myself but rather irl friends. And not that It matters, but neither of the purchases were made.

you are a 100% barefaced liar

[velacreations]

You caught him.

But that doesn't mean it's purposeful. It could be that mining just didn't work when they tried it and had to stop. They did mention that it wasn't very reliable.

wait, wait, wait. 
How is saying "we are mining" not purposefully lying when it is not true?

He just said "when mining starts"  That means mining hasn't started.

[velacreations]

Or was this an address that was found to be mining and is guesswork?

Thanks,
Ukyo

it's just guesswork.  They have not published an address that has any revenue from mining.  If that address is theirs, why are they hiding it?