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

[AngelSky]

So, we have some contract issues here? Btw, I love the new warning.

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[Zakryze]

I still don't believe these people even exist though.

TheSeven exists. He is just not doing anything important for labcoin. Im even willing to believe "howard wang" also exists (well, countless of them exist, its like the chinese John Doe), even though I cant find anyone on linkedin that would be a match. What is  clear the two arent even talking to each other, so how that constitutes a team is beyond me.

Here is my guess; the Howard Wang story may well be accurate. Its certainly feasible someone at a university would have access to the equipment and tools needed to make a rudimentary bitcoin asic on an old 130nm process and come up with a design in his free time. Upon learning about that,  theswede set out to capitalize on that and launched his IPO.  130nm asics arent very profitable, so he invented a "Rev2" to make his IPO look more lucrative. The 65nm chip cant possibly be made by Howard wang because his university doesnt have a 65nm fab.

Now the 130nm "hobby asic" isnt working, no one is pouring in the resources needed to make it work (assuming the problems are even fixable), still seems a one person venture. So theswede used his IPO money to buy some off the shelve hardware, be it avalon and/or bitfurry and is now claiming thats his 130nm chip. Actually, he isnt even claiming that, he is merely inferring it and lets others draw that conclusion.

To keep up the charade of a future rev2 65nm chip, he contracted 7 and asked him to do some work on it. 7 is apparently only working on the chip IO HDL, but doesnt know what process will be used, doesnt know who if anyone is actually designing the hashing engine, didnt even know there was a dysfunctional rev1 and doesnt seem very convinced this 65nm chip will ever materialize.

But now that some avalons/BF's are hashing, somehow people believe that this is a goldmine.
Best of luck folks.

First Asics in space! To the moon!

[bitwhizz]

I still don't believe these people even exist though.

TheSeven exists. He is just not doing anything important for labcoin. Im even willing to believe "howard wang" also exists (well, countless of them exist, its like the chinese John Doe), even though I cant find anyone on linkedin that would be a match. What is  clear the two arent even talking to each other, so how that constitutes a team is beyond me.

Here is my guess; the Howard Wang story may well be accurate. Its certainly feasible someone at a university would have access to the equipment and tools needed to make a rudimentary bitcoin asic on an old 130nm process and come up with a design in his free time. Upon learning about that,  theswede set out to capitalize on that and launched his IPO.  130nm asics arent very profitable, so he invented a "Rev2" to make his IPO look more lucrative. The 65nm chip cant possibly be made by Howard wang because his university doesnt have a 65nm fab.

Now the 130nm "hobby asic" isnt working, no one is pouring in the resources needed to make it work (assuming the problems are even fixable), still seems a one person venture. So theswede used his IPO money to buy some off the shelve hardware, be it avalon and/or bitfurry and is now claiming thats his 130nm chip. Actually, he isnt even claiming that, he is merely inferring it and lets others draw that conclusion.

To keep up the charade of a future rev2 65nm chip, he contracted 7 and asked him to do some work on it. 7 is apparently only working on the chip IO HDL, but doesnt know what process will be used, doesnt know who if anyone is actually designing the hashing engine, doesnt think he himself is up to the job,  didnt even know there was a dysfunctional rev1 and doesnt seem very convinced this 65nm chip will ever materialize.

But now that some avalons/BF's are hashing, somehow people believe that this is a goldmine.
Best of luck folks.

Cheers for that scooby doo and the mystery gang, i'm still holding on to my labcoin stock

[abuelau]

It all boils down to whether this hash rate will increase in the next few days or not... someone could have bought Avalons bla bla bla, but would be extremely hard to do that all the way to 50TH/s...

[drawingthesun]

It all boils down to whether this hash rate will increase in the next few days or not... someone could have bought Avalons bla bla bla, but would be extremely hard to do that all the way to 50TH/s...

If they can get the hash rate past 5TH/s...

[Puppet]

It all boils down to whether this hash rate will increase in the next few days or not... someone could have bought Avalons bla bla bla, but would be extremely hard to do that all the way to 50TH/s...

Even using labcoins numbers, those 180nm chips supposedly produce ~250 MH/s. To reach 50TH They would need to produce 200 thousand chips in a test fab not meant for volume production,  and 20000 PCBs, assemble them,  test them, mount them, deploy them in a pretty darn huge datacenter, power them (300+ KW) and cool them. All that based on a unstable asic using a PCB design no one has seen (or if we did, one that magically works without copper layers or traces).  The magnitude of that is greater than what BFL has produced and shipped to date!

edit: Okay so they have supposedly a 130nm chip that produces 20x the hashrate of their 180nm one, if you can believe that. So now its "only"  10K chips and 1000 boards.

Yeah, thats  gotta be a lot easier than deploying 100 of these:
http://www.bitfurystrikesback.com/product/400gh-miner-october-2013/

Not that he will reach 50TH. Is there an online bet on this somewhere?

[JohnyBigs]

I wonder if burnside would ever put a warning on his own security, of course not. Why don't we post a warnings and then post even more severe earnings now that ASIC miner had plumetted.

Its like the dow Jones posting warnings on its companies.

WARNING: Apple didnt provide their usual pre order #s, trade with caution.

Burnside has shown himself to be a clown just like every other person in the BTC community. Our warning feature is new thats why we havent posted on other securities, but it works so perfectly for Labcoin

[demzie]

It all boils down to whether this hash rate will increase in the next few days or not... someone could have bought Avalons bla bla bla, but would be extremely hard to do that all the way to 50TH/s...

Even using labcoins numbers, those 180nm chips supposedly produce ~250 MH/s. To reach 50TH They would need to produce 200 thousand chips in a test fab not meant for volume production,  and 20000 PCBs, assemble them,  test them, mount them, deploy them in a pretty darn huge datacenter, power them (300+ KW) and cool them. All that based on a unstable asic using a PCB design no one has seen (or if we did, one that magically works without copper layers or traces).  The magnitude of that is greater than what BFL has produced and shipped to date!

Yeah, thats  gotta be a lot easier than deploying 100 of these:
http://www.bitfurystrikesback.com/product/400gh-miner-october-2013/

Not that he will reach 50TH. Is there an online bet on this somewhere?

Yes were going for the 180nm fud? jezus read in, before yelling bullshit.. The 180nm is already history.. and that also counts for the specs with it.

[JohnyBigs]

It all boils down to whether this hash rate will increase in the next few days or not... someone could have bought Avalons bla bla bla, but would be extremely hard to do that all the way to 50TH/s...

Even using labcoins numbers, those 180nm chips supposedly produce ~250 MH/s. To reach 50TH They would need to produce 200 thousand chips in a test fab not meant for volume production,  and 20000 PCBs, assemble them,  test them, mount them, deploy them in a pretty darn huge datacenter, power them (300+ KW) and cool them. All that based on a unstable asic using a PCB design no one has seen (or if we did, one that magically works without copper layers or traces).  The magnitude of that is greater than what BFL has produced and shipped to date!

Yeah, thats  gotta be a lot easier than deploying 100 of these:
http://www.bitfurystrikesback.com/product/400gh-miner-october-2013/

Not that he will reach 50TH. Is there an online bet on this somewhere?

Yes were going for the 180nm fud? jezus read in, before yelling bullshit.. The 180nm is already history.. and that also counts for the specs with it.

Yes guys labcoin should pay full retail price for miners!!!! Instead of pennies so they make no profit. The idiots on here are quite hilarious.

[wickedgoodtrader]

I wonder if burnside would ever put a warning on his own security, of course not. Why don't we post a warnings and then post even more severe earnings now that ASIC miner had plumetted.

Its like the dow Jones posting warnings on its companies.

WARNING: Apple didnt provide their usual pre order #s, trade with caution.

Burnside has shown himself to be a clown just like every other person in the BTC community. Our warning feature is new thats why we havent posted on other securities, but it works so perfectly for Labcoin

Wtf are you talking about? Labcoin is being super fucking shady and they deserve MORE then a warning.

[abuelau]

It all boils down to whether this hash rate will increase in the next few days or not... someone could have bought Avalons bla bla bla, but would be extremely hard to do that all the way to 50TH/s...

Even using labcoins numbers, those 180nm chips supposedly produce ~250 MH/s. To reach 50TH They would need to produce 200 thousand chips in a test fab not meant for volume production,  and 20000 PCBs, assemble them,  test them, mount them, deploy them in a pretty darn huge datacenter, power them (300+ KW) and cool them. All that based on a unstable asic using a PCB design no one has seen (or if we did, one that magically works without copper layers or traces).  The magnitude of that is greater than what BFL has produced and shipped to date!

Yeah, thats  gotta be a lot easier than deploying 100 of these:
http://www.bitfurystrikesback.com/product/400gh-miner-october-2013/

Not that he will reach 50TH. Is there an online bet on this somewhere?

1) Chips are 130nm and not 180nm
2) Each chip yields 5GH/s
3) Therefore we need 10k chips for 50TH/s. Each one of their PCB fits 15 chips so we need just about 650 boards.

Doesn't sound impossible at all, sorry.

[JohnyBigs]

I wonder if burnside would ever put a warning on his own security, of course not. Why don't we post a warnings and then post even more severe earnings now that ASIC miner had plumetted.

Its like the dow Jones posting warnings on its companies.

WARNING: Apple didnt provide their usual pre order #s, trade with caution.

Burnside has shown himself to be a clown just like every other person in the BTC community. Our warning feature is new thats why we havent posted on other securities, but it works so perfectly for Labcoin

Wtf are you talking about? Labcoin is being super fucking shady and they deserve MORE then a warning.

So has everyother security including burnsides own, Peta broke its contract where are the warnings? Riiiiight

[JohnyBigs]

Clearly whats happening here for the people who arent dumb. Burnside trying to FUD his competition,  Labcoin is the only company so far hashing, and will surpass Asicminer, if they dont run into any problems.

Labcoin needs to have a contingency plan incase burnside desides to fuck them over.

[Puppet]

1) Chips are 130nm and not 180nm
2) Each chip yields 5GH/s
3) Therefore we need 10k chips for 50TH/s. Each one of their PCB fits 15 chips so we need just about 650 boards.

Doesn't sound impossible at all, sorry.

edited and corrected my post. I guess moving from 180nm to 130nm and increasing the hashrate by a factor 20x while sticking to pretty much the exact same time schedule was not worth putting on their website. Read in to that what you want.

[demzie]

Clearly whats happening here for the people who arent dumb. Burnside trying to FUD his competition,  Labcoin is the only company so far hashing, and will surpass Asicminer, if they dont run into any problems.

Labcoin needs to have a contingency plan incase burnside desides to fuck them over.

Well im labcoin fanboy but i do think burnside is honest and standup guy; he will handle this on a mature level.

[JohnyBigs]

Hai guys Im burnside I care about companies breaking their contracts.

Anonymous voted NO with comment: Attempting to break the contract -- odolvlobo
Anonymous voted NO with comment: Contract terms in flux after moderator approval and shares sold.
BTCTRADINGPT voted NO with comment: BTC-Trading-PT shareholders voted 290-65 to not approve.
Anonymous voted NO with comment: Muddy contract terms that often change.
Anonymous voted NO with comment: Not following their contract!
Anonymous voted NO with comment: How about you try IPOing when it's actually hashing, rather than putting all the risk on investors? The difficulty in Dec may be astronomical, and thus rendering this investment to result in almost guaranteed loss.
woodtech voted NO with comment: As other "No" voter said; all risk is on investors. You need to have some skin in the game yourselves please!

Riiiiiight

https://btct.co/security/PETA-MINE

[demzie]

1) Chips are 130nm and not 180nm
2) Each chip yields 5GH/s
3) Therefore we need 10k chips for 50TH/s. Each one of their PCB fits 15 chips so we need just about 650 boards.

Doesn't sound impossible at all, sorry.

edited and corrected my post. I guess moving from 180nm to 130nm and increasing the hashrate by a factor 20x while sticking to pretty much the exact same time schedule was not worth putting on their website.

Shit were going again through that labcoin has the worst PR every thing; we all know that; hahaha
website is from dinosaur age, etc.. get over it

[JohnyBigs]

Clearly whats happening here for the people who arent dumb. Burnside trying to FUD his competition,  Labcoin is the only company so far hashing, and will surpass Asicminer, if they dont run into any problems.

Labcoin needs to have a contingency plan incase burnside desides to fuck them over.

Well im labcoin fanboy but i do think burnside is honest and standup guy; he will handle this on a mature level.

A mature stand up guy would remove the warning when the issuer has contacted them trying to resolve it in good faith, or put a message issuer im contact with us trying to resolve issue.

Yet companies like peta mine who have broken their contracts completely, naaaah no warning because im burnside who clearly cares about scams.

[demzie]

Clearly whats happening here for the people who arent dumb. Burnside trying to FUD his competition,  Labcoin is the only company so far hashing, and will surpass Asicminer, if they dont run into any problems.

Labcoin needs to have a contingency plan incase burnside desides to fuck them over.

Well im labcoin fanboy but i do think burnside is honest and standup guy; he will handle this on a mature level.

A mature stand up guy would remove the warning when the issuer has contacted them trying to resolve it in good faith, or put a message issuer im contact with us trying to resolve issue.

Yet companies like peta mine who have broken their contracts completely, naaaah no warning because im burnside who clearly cares about scams.

Wish i could defend/attack that; but i have no idea what the conversation was between those guys..

[Mabsark]

I wonder if burnside would ever put a warning on his own security, of course not. Why don't we post a warnings and then post even more severe earnings now that ASIC miner had plumetted.

Its like the dow Jones posting warnings on its companies.

WARNING: Apple didnt provide their usual pre order #s, trade with caution.

Burnside has shown himself to be a clown just like every other person in the BTC community. Our warning feature is new thats why we havent posted on other securities, but it works so perfectly for Labcoin

Wtf are you talking about? Labcoin is being super fucking shady and they deserve MORE then a warning.

So has everyother security including burnsides own, Peta broke its contract where are the warnings? Riiiiight

Talking about BTC-TRADING-PT, bids are currently at 0.561 BTC and shares were selling at 1.126 BTC two weeks ago. With all the trading that Labcoin has seen, dividends should be at an all time high. With BTC-TRADING-PT's share price at a low, that seems to be an incredible bargain at the moment.

So, for those who think Labcoin is too risky, BTC-TRADING-PT seems like a good alternative to invest in.  I'm surprised the FUDsters aren't snapping the shares up. I guess they're just too bust trying to trade Labcoin shares.