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

[Luckybit]

I honestly don't think any of these securities are worth jack at this point.  Labcoin should be an object lesson in the risks.

I think that risk level awareness skill, needs to be radically re-calibrated if operators are able to perpetuate wholly dishonest statements of fact.

Im not sure how a reasonably minded 'investor' is able to protect themselves when complete untruths is the information we have to hand, other than to accept its sad existence, or come to the conclusion that the bitcoin 'community' are a bunch of unattractive amateurs who make things up, as it suits. The later, is not my personal view, but how do you think this charade looks in the eyes of the newly interested? And of course, this plays nicely into the hands of interested authoritative bodies.    

Didn't Labcoin make it in Wired and Bloomberg?
It certainly will look bad. They should just come clean and admit their chips failed and that they need a month and will mine with other resources to pay back investors for the losses. They do that and they can get some credibility back.

[BombaUcigasa]

What makes me sad is that Labcoin's behavior is the perfect pretext for some agencies like the SEC to take btct down. Free market does not mean responsible-free.

Will that prevent stupidity? How will people learn not to do the same mistake twice? Even when faced with contrary evidence to their goals and expectations?

[Ytterbium]

Interesting, apparently there's a public holiday in China that falls from September 19th to September 21 this year:

http://www.travelchinaguide.com/essential/holidays/calendar.htm  (see the entry on "Mid-Autumn Day" for 2013)

Could mean Labcoin might not even be back to work until the 23rd (since I guess they would have Sunday off as well?)

Right now it's like 7:37 PM in Shenzhen, on the 20th.

So, unless they're working over the holiday we're unlikely to see anything.

From wikipedia:

The Government of the People's Republic of China listed the festival as an "intangible cultural heritage" in 2006, and it was made a Chinese public holiday in 2008.[1] It is also a public holiday in Taiwan. Among the Vietnamese, it is considered the second most important holiday tradition.

[cix888]

Activemining dead + labcoin dead

nice day couldn't be happier

WTF

[Ytterbium]

Activemining dead + labcoin dead

nice day couldn't be happier

WTF

The ActM fud patrol always thought that if they could get people to sell Labcoin they'd turn around and buy ActM.  But ActM was just as risky. And people scared off of Labcoin would probably just leave.

Anyway, Labcoin is now officially beating ActM again

[physalis]

The problem is the "FUDsters" made lots of really stupid arguments, total nonsense about photoshopped pics and actually photoshopping things and coming up with fake information themselves in some cases.

Labcoin is clearly a failure, and they've failed to own up to it.  And clearly a lot of people had legitimate concerns given their lack of communication.  But, a lot of the fudsters were just spouting total nonsense.

The amount of "nonsense" that the "fudsters" posted was way more rational than all the wall-of-text justifications that you typed up. From an outside perspective it was just sooo obvious how you want to believe, how you go through great length to make excuses for LC. I even tried to personally warn you once, no chance.

Yes, some people made some stupid photoshop to manipulate. But that includes labcoin. You may have still have your eyes closed, but the pics they posted were lies. Just something they put together with Photoshop and maybe a 3D modeling tool. I think it's amazing that so many of you don't see this. This is how a photo of an actual board and chips looks.

Sorry man, you had your chance to see. If you're going out with a loss now, its your own fault. Go ahead and say that the fudsteres were just stupid with their fud, but the truth is: you were just blinded by hope and greed.

[Ytterbium]

Yes, some people made some stupid photoshop to manipulate. But that includes labcoin. You may have still have your eyes closed, but the pics they posted were lies. Just something they put together with Photoshop and maybe a 3D modeling tool.

Yeah.  this is completely delusional. A 3D modeling tool?  Really? This is exactly why people ignored the "FUDsters".  It's 9/11 truther level insanity.

Clearly, their chips don't work properly. But arguing that the chips never existed and they just cooked them up in photoshop is bonkers.

[szmarco]

Interesting, apparently there's a public holiday in China that falls from September 19th to September 21 this year:

http://www.travelchinaguide.com/essential/holidays/calendar.htm  (see the entry on "Mid-Autumn Day" for 2013)

Could mean Labcoin might not even be back to work until the 23rd (since I guess they would have Sunday off as well?)

Right now it's like 7:37 PM in Shenzhen, on the 20th.

So, unless they're working over the holiday we're unlikely to see anything.

From wikipedia:

The Government of the People's Republic of China listed the festival as an "intangible cultural heritage" in 2006, and it was made a Chinese public holiday in 2008.[1] It is also a public holiday in Taiwan. Among the Vietnamese, it is considered the second most important holiday tradition.

you are right,but this sunday is a workday.

[BitThink]

Finally!, pictures of the chips & boards!

https://bitcointalk.org/index.php?topic=280570.msg3196091#msg3196091

Yeah  

Chips already on the board?

surprised to see a manufacturer who attach the chips to a board before taking photo ? 
It's a welcome change  

I asked because I thought they had not got the chips yet. They said they would get chips this Friday.

[Anotheranonlol]

Yeah.  this is completely delusional. A 3D modeling tool?  Really? This is exactly why people ignored the "FUDsters".  It's 9/11 truther level insanity.  

[sayaz]

Yterrbium is just blind. None of you can save him. Spare your energy 

[BitThink]

you are right,but this sunday is a workday.

szmarco, you are in sz?, why not visit nanshan hi-tech park?
you can visit labcoin office and speak to whole of r&d team

The registration address is not necessarily their office address. It is common for small company just rent an address for registration purpose. Moreover, I don't think labcoin has a formal office. It's just a (maybe full time) manager and a couple of collaborators, who have their daily jobs.

[szmarco]

you are right,but this sunday is a workday.

szmarco, you are in sz?, why not visit nanshan hi-tech park?
you can visit labcoin office and speak to whole of r&d team

yes,I am. I still have patience. I hope they don't push me too much.

[Ytterbium]

Yterrbium is just blind. None of you can save him. Spare your energy  

I've sold dude.  That doesn't mean I believe the insanity that the chips were all fake and the photos and documents were all photoshoped.

Yeah.  this is completely delusional. A 3D modeling tool?  Really? This is exactly why people ignored the "FUDsters".  It's 9/11 truther level insanity.  

Yeah, I'm talking about the photos they posted the other day, which many people claimed were Photoshoped without being able to explain why they thought that was the case.

I'm talking about these images:



They are clearly not photoshoped and it's extremely unlikely they're 3D renderings. Yet, people were claiming with certainty they were.

If you think they are, you actually are delusional, and it's really not worth listening to you.

Again, not saying Labcoin isn't a failure.  They are.  But the "Fudsters" were spouting complete nonsense.  Which is why people didn't believe you.

[physalis]

Yes, some people made some stupid photoshop to manipulate. But that includes labcoin. You may have still have your eyes closed, but the pics they posted were lies. Just something they put together with Photoshop and maybe a 3D modeling tool.

Yeah.  this is completely delusional. A 3D modeling tool?  Really? This is exactly why people ignored the "FUDsters".  It's 9/11 truther level insanity.

Clearly, their chips don't work properly. But arguing that the chips never existed and they just cooked them up in photoshop is bonkers.

Well, I guess I'm bonkers and delusional then. Good luck with your opinion.
Why is it "delusional" that they'd use a tool to make a terrible CG photo? Because they wouldn't, because they're such nice people?

[Ytterbium]

Well, I guess I'm bonkers and delusional then. Good luck with your opinion.
Why is it "delusional" that they'd use a tool to make a terrible CG photo? Because they wouldn't, because they're such nice people?

Because it's obviously a real photo, and not a rendering.  What's delusional is believing it's a rendering, instead of a photograph. If it was a render, it would have to be extremely high quality - probably requiring more work then just getting a tray of chips and some fake PCBs and posing them together.  Certainly more expensive.

You can see what the actual 3D rendering looks like. It's completely different.

[merv77]

you are right,but this sunday is a workday.

szmarco, you are in sz?, why not visit nanshan hi-tech park?
you can visit labcoin office and speak to whole of r&d team

yes,I am. I still have patience. I hope they don't push me too much.

I will be in Shenzhen and Guangzhou in 5 weeks (if they can last that long) maybe we (or someone there) can meet up and check them out..

[runam0k]

I wonder how much time TheSwede and Labcoin will spend online today without providing any update here...

[BitThink]

I don't think they need to do photoshopping and 3d rendering. Even if they really don't have chips and boards, they could easily bought two chips and a couple of boards. It is cheaper, safer, and even faster.

By the way, arguing with this is meaningless. Those photos prove nothing anyway.

[Ytterbium]

I don't think they need to do photoshopping and 3d rendering. Even if they really don't have chips and boards, they could easily bought two chips and a couple of boards. It is cheaper, safer, and even faster.

By the way, arguing with this is meaningless. Those photos prove nothing anyway.

Exactly, which is why it's ridiculous to claim that they're 3D renderings or photoshops.  They're clearly not photoshops and it would be far more expensive to create a rendering like that then it would be to just, you know, have some boards made and pose them next to a tray of chips.

One more reason to be pissed at labcoin's fuckup. It validated all these total nutbar conspiracy theorists.