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

[demzie]

Well thats not the question.. Concerning that pic.
If you believe pics like that from users your even more down the road..

[BitThink]

Could you believe they broke their promises even at this moment? Completely unbelievable!

[damiano]

Will we see another sell off?

[BitThink]

Well thats not the question.. Concerning that pic.
If you believe pics like that from users your even more down the road..

I don't even care about whether that's true or not. They gave an address and 'let the mining speak', then we saw 200G, 0G, 400G for 3 days. Lancoin has not said a word even after burnside put a warning on the trading page. TheSwede gave another broken promise. All these are facts. Let's just talk about facts now.

[redbeans2012]

Well thats not the question.. Concerning that pic.
If you believe pics like that from users your even more down the road..

Not really a secret that labcoin owns or has owned avalons.  User labcoin says so himself in his early posts.  Some avalons have been sold though

[FloatesMcgoates]

I am not going to call this an update because it really isn't. I just wanted to say that I have been in touch with Sam and he has promised me that he will post an update today. I fully understand the anger and frustration among share holders (of which I am one) and can unfortunately do nothing but apologize.

I have been wanting to post an update ever since the set timeframe for the pool merge passed, unfortunately I can only relay information I am given by the team and I have been (until this morning) unable to reach the team in China.

There has been several forum members that has sent me PM in the last 24 hours and while some have been very supportive, some others obviously have been very much the opposite. I can honestly say that I absolutely understand anger and frustration and wish there was more I can do.

2 days later..

[BitThink]

Will we see another sell off?

Probably no if labcoin does not show up, cause most people seems already ignore what TheSwede said already. But if he really shows up and say something, who knows what will happen.

[demzie]

Well thats not the question.. Concerning that pic.
If you believe pics like that from users your even more down the road..

I don't even care about whether that's true or not. They gave an address and 'let the mining speak', then we saw 200G, 0G, 400G for 3 days. Lancoin has not said a word even after burnside put a warning on the trading page. TheSwede gave another broken promise. All these are facts. Let's just talk about facts now.

Im not your opponent; hahaha para!

[crumbs]

OMG 666

[dexX7]

lol crumbs. #13307

All bullshit fud.. How would a forum member come by their login details to see that; hahaha

I guess most people don't follow this thread 24/7 and didn't read every old post made by team Labcoin.

The Avalon picture is from 24 June, posted here by "delaria", an old account of "labcoin".

Anyway, dispite the history of this photo and the circumstances, I see actually no relevance or lead why they should mine with exactly those.

A constant amount of incoming coins is an improvement over the last days. Even greater would be a more significant hashrate and an update, but I guess that's pretty obvious.

Next milestone: do we receive the coins from that wallet?

[BitThink]

Well thats not the question.. Concerning that pic.
If you believe pics like that from users your even more down the road..

I don't even care about whether that's true or not. They gave an address and 'let the mining speak', then we saw 200G, 0G, 400G for 3 days. Lancoin has not said a word even after burnside put a warning on the trading page. TheSwede gave another broken promise. All these are facts. Let's just talk about facts now.

Im not your opponent; hahaha para!

Sure. Why I should find opponents from the victims just like me? To be honest, I cannot call myself 'victim' cause most of my loss is from my previous gain. I know you are the same. But I know there are a lot real victims suffering a lot there. Labcoin has every reason to be hated and condemned.

[redbeans2012]

lol crumbs. #13307

All bullshit fud.. How would a forum member come by their login details to see that; hahaha

I guess most people don't follow this thread 24/7 and didn't read every old post made by team Labcoin.

The Avalon picture is from 24 June, posted here by "delaria", an old account of "labcoin".

Anyway, dispite the history of this photo and the circumstances, I see actually no relevance or lead why they should mine with exactly those.

A constant amount of incoming coins is an improvement over the last days. Even greater would be a more significant hashrate and an update, but I guess that's pretty obvious.

Next milestone: do we receive the coins from that wallet?

Lets hope the typhoon doesn't make them lose power.

[BitThink]

lol crumbs. #13307

All bullshit fud.. How would a forum member come by their login details to see that; hahaha

I guess most people don't follow this thread 24/7 and didn't read every old post made by team Labcoin.

The Avalon picture is from 24 June, posted here by "delaria", an old account of "labcoin".

Anyway, dispite the history of this photo and the circumstances, I see actually no relevance or lead why they should mine with exactly those.

A constant amount of incoming coins is an improvement over the last days. Even greater would be a more significant hashrate and an update, but I guess that's pretty obvious.

Next milestone: do we receive the coins from that wallet?

Lets hope the typhoon doesn't make them lose power.

The mining income comes constantly, so if they are mining they are not out of power.

Moreover, even if there's no power, they can easily contact TheSwede by phone and ask him to post the update.

[radiumsoup]

Given the last 24 hours, the hash rate is about 300Gh/s at the mo.

It's insignificant and shouldn't be talked about.  That's what we refer to as "satoshi dust" after dividing it by 10,000,000 shares

of course it's significant - without additional information, the only method we have of measuring hash rate is though manual calculation when a deposit is made. You're saying that the resulting per share value is too low to be a significant source of dividends, but that's not what's being discussed. The actual rate of (apparent) hashing is what is important to investors, and gives us an insight into the status of the production line. That's why the hash rate discussion is taking place.

A picture was recently posted of a list of Labcoins Avalon rigs listed in their pool profile.  It would be impossible to dig these up though, this thread is too much of a mess.  Fact is, they're using a few ancient avalons, NOT their own production.  So this IS insignificant.  

You've missed the point of my reply entirely. The discussion is not about the amount of dividends, it's about watching the (apparent) hashrate for signs of deltas. It's already been pointed out that they already sold one of those Avalons, and the apparent hashrate is more than what the two remaining Avalons could output. It's being watched carefully to distinguish from any possible Avalon output, specifically to avoid falling for the trap you're in that says they must be using the Avalons.

I'll reiterate: dividends are not the central theme of the topic of hashrate - the viability of the hardware is. And the hashrate conversation is directly tied to the viability of the hardware, because it's the closest thing we have to transparency at this point.

[Bitcycle]

Give us some theories on why the hashrate would be low and stable.  Why would it not be increasing?

Is there any good scenario that gives that result?

[damiano]

I am going to speculate that they're only using a small portion of the chips that they have to test stability.

[JohnyBigs]

Shut up with your dumbass Avalon theories. If they were using Avalons they would of been mining with them this whole time. The retardedness on this forum never seizes to amaze.

[szmarco]

Ok, there is a good scenario.
Before the holiday,they have located the problem and found the solution with pcbs. And they sent back all pcbs to their supplier. the pcb supplier's production capacity is limited. so the pcb supplier gave them back a few pcbs which can hash at 400g. Unfortunately the holiday came and the supplier stopped production in the three holiday days because the salary is 3X of usual workday.

So, who knows?

[redbeans2012]

lol crumbs. #13307

All bullshit fud.. How would a forum member come by their login details to see that; hahaha

I guess most people don't follow this thread 24/7 and didn't read every old post made by team Labcoin.

The Avalon picture is from 24 June, posted here by "delaria", an old account of "labcoin".

Anyway, dispite the history of this photo and the circumstances, I see actually no relevance or lead why they should mine with exactly those.

A constant amount of incoming coins is an improvement over the last days. Even greater would be a more significant hashrate and an update, but I guess that's pretty obvious.

Next milestone: do we receive the coins from that wallet?

Lets hope the typhoon doesn't make them lose power.

The mining income comes constantly, so if they are mining they are not out of power.

Moreover, even if there's no power, they can easily contact TheSwede by phone and ask him to post the update.

I've been in my share of storms before,  when a big storm like that is coming for you, your priorities change.   I doubt labcoin is worrying about the miners until the storm passes. But they may prove me wrong.

[Duffer1]

http://world.time.com/2013/09/21/super-typhoon-usagi-set-to-hit-southern-china/

FTFA:

"On its current path, the typhoon is set to directly hit the coastal metropolis of Hong Kong, which, blessed with one of the world’s most sophisticated storm preparation systems, is already readying for the worst. Leading regional carrier Cathay Pacific has suspended flights, while the city’s busy port traffic has slowed to a halt. Many businesses are expected to remain closed Monday morning.

The super typhoon’s arrival punctuates the Mid-Autumn Festival holiday for many in Hong Kong and elsewhere China."