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

[Bitcycle]

The theory that someone else is pointing to their address seems to me to be very unlikely.

Many things are possible, but at some point the suspicion gets a bit too much.

[1713502132]

1713502132

[matt4054]

I mined on Slush for a while.
They pay at every threshold last I know and typically once per block.
Either:
a. random person pointed their 3.x btc payout to LC's address to cause a share price spike and make it up there
b. LC is getting about 3.x btc per block on slush
C. LC had 3.x btc and lowered the threshold to allow a payout of the balance of 3.x btc.

While I would not rule out a, b and c are both promising.

-Ukyo

Option b) has just been ruled out. Slush just solved a block and no payout to Labcoin.

Now a) and c) stay open.

[Pompobit]

I find very strange they said that on irc before on this thread, to recover credibility.

They didn't, none of them are in #labcoin. They haven't stated which pool they are using.

then, if somebody said that before the transaction, this is pretty sure a manipulation attempt...

Has anybody a screenshot of the statement on Irc to see the timestamp?

[Anotheranonlol]

I mined on Slush for a while.
They pay at every threshold last I know and typically once per block.
Either:
a. random person pointed their 3.x btc payout to LC's address to cause a share price spike and make it up there
b. LC is getting about 3.x btc per block on slush
C. LC had 3.x btc and lowered the threshold to allow a payout of the balance of 3.x btc.

While I would not rule out a, b and c are both promising.

-Ukyo

Option b) has just been ruled out. Slush just solved a block and no payout to Labcoin.

Now a) and c) stay open.

don't know how you worked that out..

[dexX7]

https://bitcointalk.org/index.php?topic=263445.msg3185853#msg3185853
Or use another pool...

Thanks, I missed that post.

You're right. It's possible and would look like this:

https://mining.bitcoin.cz/accounts/profile/json/381968-c12bbfd7cb0a558ae9314aaefdf4d2ed

Code:

{
    "username": "dexXDemonstration",
    "rating": "none",
    "confirmed_nmc_reward": "0.00000000",
    "send_threshold": "1.00000000",
    "nmc_send_threshold": "10.00000000",
    "confirmed_reward": "0.00000000",
    "workers": {
        "dexXDemonstration.worker1": {
            "last_share": 0,
            "score": "0",
            "alive": false,
            "shares": 0,
            "hashrate": 0
        }
    },
    "wallet": "",
    "unconfirmed_nmc_reward": "0.00000000",
    "unconfirmed_reward": "0.00000000",
    "estimated_reward": "0.00000000",
    "hashrate": "0.0"
}

[Pompobit]

They didn't say it on IRC.  They got a tx from slush's pool, so it implies they're mining on slush's pool, or else someone is mining there and pointed their miners at their address.

On IRC they say that it is Slush's pool

[Duffer1]

I mined on Slush for a while.
They pay at every threshold last I know and typically once per block.
Either:
a. random person pointed their 3.x btc payout to LC's address to cause a share price spike and make it up there
b. LC is getting about 3.x btc per block on slush
C. LC had 3.x btc and lowered the threshold to allow a payout of the balance of 3.x btc.

While I would not rule out a, b and c are both promising.

-Ukyo

Option b) has just been ruled out. Slush just solved a block and no payout to Labcoin.

Now a) and c) stay open.

We'll have to wait and see if they payout to the Labcoin address.

[cix888]

what is the div per share if by Dec they hash with 500th?

whats the risk and whats the reward?

risk 100%

reward ?%

[pedrog]

So, are we rich? 

[matt4054]

I mined on Slush for a while.
They pay at every threshold last I know and typically once per block.
Either:
a. random person pointed their 3.x btc payout to LC's address to cause a share price spike and make it up there
b. LC is getting about 3.x btc per block on slush
C. LC had 3.x btc and lowered the threshold to allow a payout of the balance of 3.x btc.

While I would not rule out a, b and c are both promising.

-Ukyo

Option b) has just been ruled out. Slush just solved a block and no payout to Labcoin.

Now a) and c) stay open.

don't know how you worked that out..

If they were to be rewarded 3.x BTC per block, they would have already been paid a second time. They haven't. Option b) ruled out.

[Ytterbium]

They didn't say it on IRC.  They got a tx from slush's pool, so it implies they're mining on slush's pool, or else someone is mining there and pointed their miners at their address.

On IRC they say that it is Slush's pool

"They" meaning "people on IRC". 

[Ukyo]

I mined on Slush for a while.
They pay at every threshold last I know and typically once per block.
Either:
a. random person pointed their 3.x btc payout to LC's address to cause a share price spike and make it up there
b. LC is getting about 3.x btc per block on slush
C. LC had 3.x btc and lowered the threshold to allow a payout of the balance of 3.x btc.

While I would not rule out a, b and c are both promising.

-Ukyo

Option b) has just been ruled out. Slush just solved a block and no payout to Labcoin.

Now a) and c) stay open.

Actually, it's not slush finding a block, it's when the next block slush has found hits 100 confirms and can payout.

[Duffer1]

I mined on Slush for a while.
They pay at every threshold last I know and typically once per block.
Either:
a. random person pointed their 3.x btc payout to LC's address to cause a share price spike and make it up there
b. LC is getting about 3.x btc per block on slush
C. LC had 3.x btc and lowered the threshold to allow a payout of the balance of 3.x btc.

While I would not rule out a, b and c are both promising.

-Ukyo

Option b) has just been ruled out. Slush just solved a block and no payout to Labcoin.

Now a) and c) stay open.

don't know how you worked that out..

If they were to be rewarded 3.x BTC per block, they would have already been paid a second time. They haven't. Option b) ruled out.

Nobody has been payed out yet from that block. https://blockchain.info/address/1AqTMY7kmHZxBuLUR5wJjPFUvqGs23sesr

[Pompobit]

"They" meaning "people on IRC". 

Oh, ok got it 

[Bitcycle]

Would 3.x per block mean they represented ( 3.x / 25 ) of slush's entire rate?  That seems unlikely...

[matt4054]

Actually, it's not slush finding a block, it's when the next block slush has found hits 100 confirms and can payout.

Nobody has been payed out yet from that block. https://blockchain.info/address/1AqTMY7kmHZxBuLUR5wJjPFUvqGs23sesr

True, I stand corrected.

It also means they had to fill the "buffer" if that payout is really from them, and we should see coins flowing in rapidly, unless they just lowered the threshold on purpose to trigger the payout (no implying anything here, it may very well be to prove they're hashing).

But the fact stays, we just can't evaluate their hashrate at the moment.

Personally, I'm still waiting before buying back in, I find the current price still rather 'optimistic' to say the least. But it's just personal opinion, and the trolls will take relay on that

[tucenaber]

I'm skeptical. First, it was a bit too quick and second why would they not announce it?

[Ukyo]

Would 3.x per block mean they represented ( 3.x / 25 ) of slush's entire rate?  That seems unlikely...

By 3.x btc I was reference the amount that was paid out last. 3. btc.
We would want to hope that they would be getting about that per block if it was representing 1~2 TH of mining power.

If several more slush blocks hit payout and they receive nothing, that will tell us quite a bit.

As it stands by slush's site there are "32 confirmations left" until next block payout on their site.

Block, total block amount, remaining confirmations
258662   27.53925472    32 confirmations left
258663   26.63200108    33 confirmations left
258667   25.06536657    37 confirmations left
258672   26.11757425    42 confirmations left
258675   25.64535284    45 confirmations left

These will give valuable insight.

-Ukyo

[JWU90]

I'm skeptical. First, it was a bit too quick and second why would they not announce it?

well we should get some info soon   theswede did say pool mining will be integrated in the next few hours during the last update.

[Duffer1]

Would 3.x per block mean they represented ( 3.x / 25 ) of slush's entire rate?  That seems unlikely...

There's an option to not generate a payout to an external wallet until you reach x amount of mining revenue.  You're correct that 1/8th of Slush's total hashrate is extremely unlikely.