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

[Ukyo]

One interesting thing - anyone can send coins to this address.  Someone holding a lot of btc could send to that address to pump the stock.  They could potentially make a profit doing so.

Would be silly though unless that someone is using freshly generated coins.

[KCBitcoin]

Every time I think you can't do worse, you do.
A signed address that is not solo mining is of no use.
If you want prove mining on a pool, you have to use a pool with public stats.

But hey, investors are going to be angry at me, not at you, again. Wonderful.

yea, as usual, they will just do things wrong in every possible way.

[tucenaber]

One interesting thing - anyone can send coins to this address.  Someone holding a lot of btc could send to that address to pump the stock.  They could potentially make a profit doing so.

That would be the financial equivalent of a perpetuum mobile...

[velacreations]

One interesting thing - anyone can send coins to this address.  Someone holding a lot of btc could send to that address to pump the stock.  They could potentially make a profit doing so.

Would be silly though unless that someone is using freshly generated coins.

Not really, you'd be surprised how shareholders react around here.  After all, they have purchased shares AFTER it has been shown that the issuer repeatedly lied about performance details.

[ronaldlee0917]

2 no votes from BTCT.co mods now

Will Labcoin be suspended or delisted when the score becomes negative?

[Duffer1]

We're currently averaging about 2 TH/s in solo mode, and expect to deploy at least 4 TH by monday 16, to reach gradually 50 TH within October.

Then again:

We're mining in solo mode

and again:

Not really a drop to 2 TH, this is roughly the speed we're mining at now, it will reach 4 TH next monday.

and again:

We are indeed mining

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'.

I took that final statement to mean "until the point that pool mining starts."

[velacreations]

We're currently averaging about 2 TH/s in solo mode, and expect to deploy at least 4 TH by monday 16, to reach gradually 50 TH within October.

Then again:

We're mining in solo mode

and again:

Not really a drop to 2 TH, this is roughly the speed we're mining at now, it will reach 4 TH next monday.

and again:

We are indeed mining

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'.

Hey, did you just steal my post without quoting me?

[Rannasha]

2 no votes from BTCT.co mods now

Will Labcoin be suspended or delisted when the score becomes negative?

No, the score itself doesn't mean much anymore after a company has been approved for IPO. At best, it could be a trigger for Burnside to intervene.

[KCBitcoin]

2 no votes from BTCT.co mods now

Will Labcoin be suspended or delisted when the score becomes negative?

no, look at PETA-MINE

[Bitcycle]

2 no votes from BTCT.co mods now

Will Labcoin be suspended or delisted when the score becomes negative?

No, the score itself doesn't mean much anymore after a company has been approved for IPO. At best, it could be a trigger for Burnside to intervene.

Odds Burnside will remove 28,000 btc in market cap from his users-  0.0%

[OneBTCJay]

I'm surprised this stock hasn't imploded already, I just hope that it won't take btc-tc with it.

[Multi]

Who will pay 25 BTC ? div will be larger than the AM, shares will go to the moon  

[ShroomsKit]

We're currently averaging about 2 TH/s in solo mode, and expect to deploy at least 4 TH by monday 16, to reach gradually 50 TH within October.

Then again:

We're mining in solo mode

and again:

Not really a drop to 2 TH, this is roughly the speed we're mining at now, it will reach 4 TH next monday.

and again:

We are indeed mining

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'.

This is so bad! They are simply lying. And they don't give a shit.

[velacreations]

It didn't look correct without adding TheSwede75's quote, sorry about that.

I agree!

[KCBitcoin]

This is just too dramatic. I need to stop following this thread.

[Ytterbium]

Yeah, their credibility is pretty bad right now. They said they were hashing, then they said they weren't able to hash 'stably'.  Then they posted those ridiculous board pictures. Now it seems like they're not hashing at all, and it took them days and days to do something that should have required barely any work - just posting a mining address.

It's ridiculous.  It's not like 'things will be fine' once the hashing actually starts.  After blowing so much credibility, fewer people are going to trust them and the share price is going to remain low.

The thing is, they actually built up credibility with the way they did their IPO, not taking more money then they could have, etc. And... now they squandered it.

LC may still have some value if they start seeing regular income on that address. But how do we know they're not going to say "Hey guys, we decided to change the mining address.  New address will be posted in 3 days"

[guitarplinker]

WE NEED SOLID FACTS LABCOIN. GIVE US PROOF OF YOUR HASHING, A PAYOUT ADDRESS WITH CONSTANT PAYMENTS, SOMETHING TO PROVE YOU'RE HASHING.

That's all we need.... it would have avoided over 100 pages of nonsense IMO...

[physalis]

I'm surprised this stock hasn't imploded already, I just hope that it won't take btc-tc with it.

+1

I doubt though that it will take btct with it. This is bitcoin, and people are responsible for the shit they fall for.
There are hundreds of loud warning voices here, and everyone who chooses to ignore those warnings because of their idiotic blinding greed deserves to get every last satoshi stolen from them.

[velacreations]

Yeah, their credibility is pretty bad right now. They said they were hashing, then they said they weren't able to hash 'stably'.  Then they posted those ridiculous board pictures. Now it seems like they're not hashing at all, and it took them days and days to do something that should have required barely any work - just posting a mining address.

It's ridiculous.  It's not like 'things will be fine' once the hashing actually starts.  After blowing so much credibility, fewer people are going to trust them and the share price is going to remain low.

The thing is, they actually built up credibility with the way they did their IPO, not taking more money then they could have, etc. And... now they squandered it.

LC may still have some value if they start seeing regular income on that address. But how do we know they're not going to say "Hey guys, we decided to change the mining address.  New address will be posted in 3 days"

+1 exactly right.  credibility means a lot when you are first starting out, and especially when you expect people to value your company more than what it is currently worth.

An added thing to note: every day the network grows, and we learn that LC has missed at least a week of hashing (maybe more).  Now, sure, that week of revenue would not have been much, but that same hash rate (2TH/s) earns considerably less in another week, or 2 weeks or 4, etc.

The point is, time is money, and they are behind schedule.  They didn't have a lot of room for error, anyway, but now, if this pattern continues, they'll likely fail.

[tucenaber]

LC may still have some value if they start seeing regular income on that address. But how do we know they're not going to say "Hey guys, we decided to change the mining address.  New address will be posted in 3 days"

Now why in the world would they do that? That's ridiculous.