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

[velacreations]

What do you use to see the exact volume in a time frame?

http://kryptotrader.com/

[1714005068]

1714005068

[1714005068]

1714005068

[Pompobit]

What do you use to see the exact volume in a time frame?

http://kryptotrader.com/

thank you

[velacreations]

Probably a response to the FUD. Someone wanted cheap shares in here and had the bids waiting while pushing all that FUD. You got the shares, hopefully the price of shares goes down further.

so, nothing to do with no hashing and no performance, overvalued share price, etc, etc? 

am I really THAT persuasive?  If so, whoever sold those 165K shares should give me a tip!

[Duffer1]

165K shares, I don't know the average price, but the lowest was .002
There's 330+ BTC that just left.

What do you use to see the exact volume in a time frame?

kryptotrader.com and/or #bitcoin-assets freenode IRC chan.

[KSGuy]

well, that was interesting to watch
this is what I came up with just roughly counting

170,00 shares, between 20:55 and 23:40 around .0024 each = 408 bitcoin at current rate, $49,266

Is that close or am I way off?

[velacreations]

well, that was interesting to watch
this is what I came up with just roughly counting

170,00 shares, between 20:55 and 23:40 around .0024 each = 408 bitcoin at current rate, $49,266

Is that close or am I way off?

very close.  wtf?  who did that?

who has new information that would dump $50K like that?

[runam0k]

They are all going to be millionaires if they get these chips to hash and if they don't then that is business. Most startups go bankrupt.

LOL
They're already millionaires. They already took your BTC. They don't need to do shit. They can string you along as long as they like and still sell their remaining shares at 2x IPO because there are plenty of believers out there ready to hold the bags.

[WikileaksDude]

I will give 2 days for this thread to pass AsicMiner thread in posts.

but i will give years for this thread to have the same posts quality as AsicMiner's.

[freedomno1]

Well if they do an activemining and lock the thread and make a Self moderated we might see silence in the marketplace 
One can dream

[afrotec]

 

[hobbymd]

Team labcoin on BTCGuild originates back to june and they even mined some altcoins. If you look through TheSwede's post history, you'll also notice many hardware purchases.

But from all theories, the one that Labcoin mines with exactly those three Avalons and that this is the reason for the payouts we see, is one of the more unlikely ones in my opinion.

Why? Because they have much more mining hardware available right now than this and also the coins (many!) to pull a whole different story, if they'd want to.

So I'm asking myself (for days now), why do they act as they do? I believe they have chips and also boards, though I'm not sure if they have working miners, but this has almost nothing to do with the question: why do they act as they do?

TheSwede is a miner himself and I think he is not stupid, thus I believe he is well aware of "how things work", how API tokens on slush's are generated and of course what's happening here on the forums and how people think about what's happening here. There is one very important piece missing right now to solve this puzzle, if you dismiss the possibility of a more or less sophisticated long con.

I'd like to ask you, Swede, what is your relation to Labcoin at all? Is it somewhat out of (your) control and are you only forwarding the (unsufficient) information you receive? And what is labcoin's role? I think it's obvious that "delaria" is a former account of "labcoin". Is Sam Noi actually Sam Noi Sengphachanh?

From his point of view, I think, he might think that telling everyone something like "actually I have no idea of what's happening behind the curtain, things go wrong but I have no idea why and there is nothing I can do" does more harm than acting "unreasonable" as he does now. I also think it wouldn't be clever from his point of view to admit that the coins sent to 17psAW21J4twanAFWmbcd5WdX2pKeX3trm are not from Labcoin (if they are not) until Labcoin is able to deliver the hashing on its own.

I believe the coins received on this address are from some fishes that invested some coins to game the market - because it would be a worthwhile move. They are only (several) fishes and no whale (miner), because they are unable to transfer a constant amount of coins to this address, which would have been even more profitable. The masterplan would have been to keep up the flow of coins, because one larger payment might trigger a mini-rally, but we all know - if people lose their doubts and start to believe what Labcoin says and what they claim to do in a shorter timeframe (50 TH/s, 300-500 TH/s etc.), saying that this stock will "go to teh moon" is probably an underestimation. I'm not saying that those coins are 100 % not from Labcoin, but I'd say it's unlikely due to the larger swings combined with pool switches combined with several mining stops and no further payout since 2013-09-19 17:17:18 UTC. Right now everything looks like Labcoin hasn't start to mine yet.

Swede, I have one last question: are you aware of what you are doing? For me a honest answer to this question would be worth more than operational facts at the moment.

Please don't take this as an attack, it's really not intended as such and I hope that one day all of us can look back to this thread and smile, too!

+1
We need more constructive post like this, so that we can at least have mature conversations maybe that way we could have got something useful from this thread that already has reached over 600 pages!!!!

I think labcoin should do what Actm mining did today and start a fresh thread that is self-moderated. this way anybody with valid reason/concern can ask their questions without their post get lost in pages of literally crap/mud throwing talk. Anybody been around Actm threads knows how crumbs been trolling there for longest while, over here same situation but different people are doing the same thing. there are couple of people together literally have hijacked this whole thread, i dont need to name them but if you have a decent level of intelligence you can clearly see them.

[Zakryze]

You could also ask dex to start a moderated thread for questions and concerns about labcoin and then pass questions to him and let only allow him and labcoin to enter the discussion while questions are being sent to him in some other form. They can still publish their announcements in there if i am right.  i just doubt they will answer it.

[wickedgoodtrader]

They are all going to be millionaires if they get these chips to hash and if they don't then that is business. Most startups go bankrupt.

LOL
They're already millionaires. They already took your BTC. They don't need to do shit. They can string you along as long as they like and still sell their remaining shares at 2x IPO because there are plenty of believers out there ready to hold the bags.

They sold 7 mil shares at .001 for 7000 btc. That is worth roughly 850k. Even if it's just 1 guy he's not a millionaire. If it's a couple/few guys they are looking at couple hundred grand each. It is most definitely in their best interest to drag people along and carry out the scam because their is a lot of money to be made selling off the 3 million shares they gave themselves (which they haven't locked). Why would you just run with less then a mil when you can scam more and make some real dough?

So anybody using the argument of this can't be a scam because they would have just taken off with the money doesn't make any sense.

[superduh]

have they posted anything at all today?
jeez - someone needs to locate this sam noi, now

[matt4054]

I would only use a self-moderated thread as a LAST RESORT measure, just like locked articles on Wikipedia. Using a self-moderated topic could even further fuel the rumours / FUD instead of filtering the noise out of signal.

The problem is that LABCOIN desperately needs to regain shareholders' trust. I'm not talking about the fanboys, they will hold whatever. And haters are gonna hate, of course.

Instead of self-moderating, if TheSwede is really acting as their PR (I'm not even sure about this, he could confirm or deny himself), he should be much more active in shutting down the noise by giving more signal!

Shareholders were promised measurable figures several times, and for several weeks. This has still not happened, causing a lot of shareholders (including me) to get rid of what was supposed to be a long-term position, because as soon as dishonesty show up (and I am still waiting for an apology about the lie "we are hashing at about 2 TH/s currently"), there is no way you want to keep your long-term position open. So, I sold at loss, and so far I don't even regret it, I feel like I would even be more at risk right now.

The mining address that was provide doesn't live up to my expectations either:

• The income doesn't seem regular
• They could be faked
• The payouts are really FAR BELOW what you would expect even for 2 TH/s, it's more like 250 GH/s, and decreasing as we speak since there hasn't been any new payment incoming during the last couple of hours

All of this makes it impossible to verify if they are hashing, and how far behind their schedule they are. All their statements (from labcoin or TheSwede) are full of promise, but do not provide verifiable tools to back LABCOIN beyond a basic "trust our word on this guys!".

And I agree with dexx, I really don't understand why they are not taking to clarify simple facts so shareholders can better understand what's going on on this mining address. Because right now, I'm sorry to say, it only adds up to speculation instead of facts.

[Zakryze]

have they posted anything at all today?
jeez - someone needs to locate this sam noi, now

who says that theswede and sam noi are 2 seperate persons irl??

850k + 15% of the unlocked shares sold(maybe with buybacks and multiple selloffs) should add up to a million if they did it right btw.
With the thin oderbook the shareprice might explode pretty soon again when they post unreliable info and buy back again anyways. this is not transparent enough if you ask me. call this FUD i dont care.

[wickedgoodtrader]

have they posted anything at all today?
jeez - someone needs to locate this sam noi, now

who says that theswede and sam noi are 2 seperate persons irl??

850k + 15% of the unlocked shares sold(maybe with buybacks and multiple selloffs) should add up to a million if they did it right btw.
With the thin oderbook the shareprice might explode pretty soon again when they post unreliable info and buy back again anyways. this is not transparent enough if you ask me. call this FUD i dont care.

As I've said before, there is no fucking Sam. And the swede account is most def also Labcoin

[Luckybit]

They are all going to be millionaires if they get these chips to hash and if they don't then that is business. Most startups go bankrupt.

LOL
They're already millionaires. They already took your BTC. They don't need to do shit. They can string you along as long as they like and still sell their remaining shares at 2x IPO because there are plenty of believers out there ready to hold the bags.

That is not true. They do have to mine and deliver dividends. If they do not even attempt to do that then what good are all those Bitcoins if they can't spend it?

What do you think they'll do? Start buying pizzas and cars with their corporate funding? That is clearly illegal.

They are obligated as a corporation to make chips and mine with them. If they don't then they'll go out of business, all their Bitcoins will be confiscated, etc.

They have the chance to be millionaires if they simply play by the rules and do what their corporation was set up to do when they asked for funding. If they don't do this the community knows where their coins are, everything is transparent.

[huhai0978]

I would only use a self-moderated thread as a LAST RESORT measure, just like locked articles on Wikipedia. Using a self-moderated topic could even further fuel the rumours / FUD instead of filtering the noise out of signal.

The problem is that LABCOIN desperately needs to regain shareholders' trust. I'm not talking about the fanboys, they will hold whatever. And haters are gonna hate, of course.

Instead of self-moderating, if TheSwede is really acting as their PR (I'm not even sure about this, he could confirm or deny himself), he should be much more active in shutting down the noise by giving more signal!

Shareholders were promised measurable figures several times, and for several weeks. This has still not happened, causing a lot of shareholders (including me) to get rid of what was supposed to be a long-term position, because as soon as dishonesty show up (and I am still waiting for an apology about the lie "we are hashing at about 2 TH/s currently"), there is no way you want to keep your long-term position open. So, I sold at loss, and so far I don't even regret it, I feel like I would even be more at risk right now.

The mining address that was provide doesn't live up to my expectations either:

• The income doesn't seem regular
• They could be faked
• The payouts are really FAR BELOW what you would expect even for 2 TH/s, it's more like 250 GH/s, and decreasing as we speak since there hasn't been any new payment incoming during the last couple of hours

All of this makes it impossible to verify if they are hashing, and how far behind their schedule they are. All their statements (from labcoin or TheSwede) are full of promise, but do not provide verifiable tools to back LABCOIN beyond a basic "trust our word on this guys!".

And I agree with dexx, I really don't understand why they are not taking to clarify simple facts so shareholders can better understand what's going on on this mining address. Because right now, I'm sorry to say, it only adds up to speculation instead of facts.

They are not hashing with their own chips. Labcoin is hashing with the the 3 Avalons they bought in June, total 250GH/s. There is no such thing as 2TH/s. Just forget about it.

[Zakryze]

They are all going to be millionaires if they get these chips to hash and if they don't then that is business. Most startups go bankrupt.

LOL
They're already millionaires. They already took your BTC. They don't need to do shit. They can string you along as long as they like and still sell their remaining shares at 2x IPO because there are plenty of believers out there ready to hold the bags.

That is not true. They do have to mine and deliver dividends. If they do not even attempt to do that then what good are all those Bitcoins if they can't spend it?

What do you think they'll do? Start buying pizzas and cars with their corporate funding? That is clearly illegal.

They are obligated as a corporation to make chips and mine with them. If they don't then they'll go out of business, all their Bitcoins will be confiscated, etc.

maybe they bought all those shares sold to jump on board of the labcoin high risk but even higher profit illusions train? And when you finally realize this ship is going down they sell you those shares back at a profit again. they are like the south park underwearimps. xD