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abuelau
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September 23, 2013, 10:11:28 AM |
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Hey Ukyo, have you discussed anything with Burnside regarding listing the btct securities in Bitfunder?
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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NineLives
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September 23, 2013, 10:14:47 AM |
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Ohh bollocks.. Whats happened now?
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bobboooiie
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September 23, 2013, 10:15:04 AM |
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hmm.. another daytime has passed in china, yet no hashrate increase.
I am more worried about they keep tricking us using bought mining rigs.
Meh. As long as they keep buying and putting more more and reasonably meet hashrates..  Can I invest into bitfunder please ? I have weird feeling its going to be doing good soon  |
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Puppet
Legendary
 Offline
Activity: 980
Merit: 1040
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September 23, 2013, 10:18:45 AM |
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Can I invest into bitfunder please ? I have weird feeling its going to be doing good soon Really. I have a weird feeling it will also be closing down soon. |
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BitCsByBit
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September 23, 2013, 10:19:38 AM |
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hmm.. another daytime has passed in china, yet no hashrate increase.
I am more worried about they keep tricking us using bought mining rigs.
Meh. As long as they keep buying and putting more more and reasonably meet hashrates.. Ukyo, can you post some words of reason regarding this situation to calm down any potential panic sellers? |
Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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AngelSky
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September 23, 2013, 10:22:26 AM |
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To the moon!
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Ytterbium
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September 23, 2013, 10:24:58 AM |
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Thank god Uyko is a shareholder  |
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BitCsByBit
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September 23, 2013, 10:25:52 AM |
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Thank god Uyko is a shareholder +1 |
Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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Ukyo
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September 23, 2013, 10:30:43 AM |
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Hmm where to start... A. No, I have not had any contact with Burnside regarding the recent events. B. Labcoin... We'll have to see if they want to move to BitFunder first. Granted, they might not find out about btct for a week.  BitFunder has very strict requirements right now so it depends a lot on Labcoin. C. Let's hope BF doesn't shut down. I have put far more $$ into lawyers to make sure it is legalized than BF has ever potentially earned in profits. "Make it happen" you say. If I had that kinda power we would have live vid feed from the labcoin guys working on equipment. j/k |
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BitCsByBit
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September 23, 2013, 10:33:40 AM |
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Hmm where to start... A. No, I have not had any contact with Burnside regarding the recent events. B. Labcoin... We'll have to see if they want to move to BitFunder first. Granted, they might not find out about btct for a week. BitFunder has very strict requirements right now so it depends a lot on Labcoin. C. Let's hope BF doesn't shut down. I have put far more $$ into lawyers to make sure it is legalized than BF has ever potentially earned in profits. "Make it happen" you say. If I had that kinda power we would have live vid feed from the labcoin guys working on equipment. j/k Thanx |
Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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Ytterbium
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September 23, 2013, 10:44:20 AM |
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I think people are way over-reacting to this. It's not like the exchange is shutting down tomorrow. There will be time for an orderly transfer to another exchange.
Hopefully if they do move though it will be an opportunity to do things like have shareholders vote on a board that would be able to get in contact with the principles when they need too and so on.
What I'd really like to see the board empowered to do is: 1 have some kind of external audit to find out what's going on, and check to ensure that all the chips being produced are being mined with on their official pool account. It shouldn't be too difficult to do, just go over the contracts they have with SZICC and see how many chips were actually ordered, and how many are being used. As well as being able to review their operational plans and see what exactly is going on with the outsourcing place, etc.
Ideally (And I don't know if they'd agree to this) I'd like to see the board be able to take control of the IP we paid for when we bought the company. The chip design and maskset, PCB gerber files, along with the contracts to make them. That way if the current team wasn't able to effectively run the company other people could be brought in and production could continue. If the current opperators run off
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Puppet
Legendary
Offline
Activity: 980
Merit: 1040
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September 23, 2013, 10:48:17 AM |
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C. Let's hope BF doesn't shut down. I have put far more $$ into lawyers to make sure it is legalized than BF has ever potentially earned in profits.
Can you point me to somewhere where I can find out more about this, what you have done and why think BF would not be violating security trade legistlation ? |
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MaxSan
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September 23, 2013, 10:50:49 AM |
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I think people are way over-reacting to this. It's not like the exchange is shutting down tomorrow. There will be time for an orderly transfer to another exchange.
Hopefully if they do move though it will be an opportunity to do things like have shareholders vote on a board that would be able to get in contact with the principles when they need too and so on.
What I'd really like to see the board empowered to do is: 1 have some kind of external audit to find out what's going on, and check to ensure that all the chips being produced are being mined with on their official pool account. It shouldn't be too difficult to do, just go over the contracts they have with SZICC and see how many chips were actually ordered, and how many are being used. As well as being able to review their operational plans and see what exactly is going on with the outsourcing place, etc.
Ideally (And I don't know if they'd agree to this) I'd like to see the board be able to take control of the IP we paid for when we bought the company. The chip design and maskset, PCB gerber files, along with the contracts to make them. That way if the current team wasn't able to effectively run the company other people could be brought in and production could continue. If the current opperators run off
This. When a few people hold all the knowledge, the ability to run a successful operation is dramaticaly reduced if someone (for any reason) is unable to perform the task that they hold the information on. I do have faith in these lot to follow through but agian, their communication skills leave much to be desired and the ability to interface with shareholders would make this a top asset if they keep deploying hashing power. |
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BitCsByBit
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September 23, 2013, 10:54:32 AM |
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I think people are way over-reacting to this. It's not like the exchange is shutting down tomorrow. There will be time for an orderly transfer to another exchange.
Hopefully if they do move though it will be an opportunity to do things like have shareholders vote on a board that would be able to get in contact with the principles when they need too and so on.
What I'd really like to see the board empowered to do is: 1 have some kind of external audit to find out what's going on, and check to ensure that all the chips being produced are being mined with on their official pool account. It shouldn't be too difficult to do, just go over the contracts they have with SZICC and see how many chips were actually ordered, and how many are being used. As well as being able to review their operational plans and see what exactly is going on with the outsourcing place, etc.
Ideally (And I don't know if they'd agree to this) I'd like to see the board be able to take control of the IP we paid for when we bought the company. The chip design and maskset, PCB gerber files, along with the contracts to make them. That way if the current team wasn't able to effectively run the company other people could be brought in and production could continue. If the current opperators run off
This. When a few people hold all the knowledge, the ability to run a successful operation is dramaticaly reduced if someone (for any reason) is unable to perform the task that they hold the information on. I do have faith in these lot to follow through but agian, their communication skills leave much to be desired and the ability to interface with shareholders would make this a top asset if they keep deploying hashing power. Clear communication is needed now more than ever. This is their chance to "reset" and turn it all around. |
Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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abuelau
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September 23, 2013, 11:03:58 AM |
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I think people are way over-reacting to this. It's not like the exchange is shutting down tomorrow. There will be time for an orderly transfer to another exchange.
Hopefully if they do move though it will be an opportunity to do things like have shareholders vote on a board that would be able to get in contact with the principles when they need too and so on.
What I'd really like to see the board empowered to do is: 1 have some kind of external audit to find out what's going on, and check to ensure that all the chips being produced are being mined with on their official pool account. It shouldn't be too difficult to do, just go over the contracts they have with SZICC and see how many chips were actually ordered, and how many are being used. As well as being able to review their operational plans and see what exactly is going on with the outsourcing place, etc.
Ideally (And I don't know if they'd agree to this) I'd like to see the board be able to take control of the IP we paid for when we bought the company. The chip design and maskset, PCB gerber files, along with the contracts to make them. That way if the current team wasn't able to effectively run the company other people could be brought in and production could continue. If the current opperators run off
This. When a few people hold all the knowledge, the ability to run a successful operation is dramaticaly reduced if someone (for any reason) is unable to perform the task that they hold the information on. I do have faith in these lot to follow through but agian, their communication skills leave much to be desired and the ability to interface with shareholders would make this a top asset if they keep deploying hashing power. Clear communication is needed now more than ever. This is their chance to "reset" and turn it all around. I like the board idea, but I think people had the same idea with ActM and it didn't work out so well. The board can only exist and be useful if the right environment is defined and agreed upfront, the board should have clear obligations and rights before it's even formed, or else it will be just another "I only relay what I am told" kind of situation which is completely worthless. |
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Ytterbium
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September 23, 2013, 11:08:38 AM |
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I like the board idea, but I think people had the same idea with ActM and it didn't work out so well. The board can only exist and be useful if the right environment is defined and agreed upfront, the board should have clear obligations and rights before it's even formed, or else it will be just another "I only relay what I am told" kind of situation which is completely worthless.
The problem is the board was populated with cheerleaders - and anyway, I think it's probably still better for ActM to have a board then not. Obviously if a bunch of nutbars end up getting appointed it's not going to help things. The quality and competence of the board will help determine how well labcoin does, so that is a risk that we'd have to take in getting one setup. And we don't know if they'll even agree to it. |
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TMAN
Legendary
Offline
Activity: 1414
Merit: 1808
Exchange Bitcoin quickly-https://blockchain.com.do
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September 23, 2013, 11:09:11 AM |
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We are f*cked here now guys, no new exchange will take LC with the current information sharing.. Fingers crossed though..
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blastbob
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September 23, 2013, 11:10:30 AM |
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We are f*cked here now guys, no new exchange will take LC with the current information sharing.. Fingers crossed though..
Continue.. let me pick up the cheap shares |
Bitrated user: blastbob.
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lzr1900
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September 23, 2013, 11:11:34 AM |
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It's time to start a new thread like "[LABCOIN] IPO [XXXX] - Details/FAQ and Discussion (ASIC dev/sales/mining)"  |
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abuelau
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September 23, 2013, 11:13:00 AM |
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I like the board idea, but I think people had the same idea with ActM and it didn't work out so well. The board can only exist and be useful if the right environment is defined and agreed upfront, the board should have clear obligations and rights before it's even formed, or else it will be just another "I only relay what I am told" kind of situation which is completely worthless.
The problem is the board was populated with cheerleaders - and anyway, I think it's probably still better for ActM to have a board then not. Obviously if a bunch of nutbars end up getting appointed it's not going to help things. The quality and competence of the board will help determine how well labcoin does, so that is a risk that we'd have to take in getting one setup. And we don't know if they'll even agree to it. Right, but we have the opportunity to get this right from the start, so let's do the best we can. We should propose this to them, but first we should clarify with ourselves what we expect that this board is supposed to do. |
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