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

[Caesium]

I'm impresssed. Only the second of my funds to give an update, beating both friedcat (though I doubt he needs to say anything..) and creativex.

[BitCsByBit]

Dividends will be paid regularly until the btct platform is available.

What does that mean?

Until = While.

[JimiQ84]

I'm impresssed. Only the second of my funds to give an update, beating both friedcat (though I doubt he needs to say anything..) and creativex.

Friedcat isn't associated with any security exchange. Asicminer is in form of direct shares, on exchanges are only pass-throughs

[BitCsByBit]

Dividends will be paid regularly until the btct platform is available.

What does that mean?

And what 'direct shares' is supposed to be?

What AsicMiner had when GLBSE failed.

[AngelSky]

Direct shares means no more 3rd party. Good luck with that, especially with Labcoin :p

[klee]

I'm impresssed. Only the second of my funds to give an update, beating both friedcat (though I doubt he needs to say anything..) and creativex.

Friedcat isn't associated with any security exchange. Asicminer is in form of direct shares, on exchanges are only pass-throughs

How does this work in practice? Where do you/buy/store the shares??

[BitCsByBit]

Direct shares means no more 3rd party. Good luck with that, especially with Labcoin :p

GTFO! Trol.

[Bitcycle]

Direct shares means no more 3rd party. Good luck with that, especially with Labcoin :p

Eh, they give someone a small fee to manage it and it's all good.

[AngelSky]

Direct shares means no more 3rd party. Good luck with that, especially with Labcoin :p

GTFO! Trol.

This is the cold truth. Sorry for that.

[BitCsByBit]

I'm impresssed. Only the second of my funds to give an update, beating both friedcat (though I doubt he needs to say anything..) and creativex.

Friedcat isn't associated with any security exchange. Asicminer is in form of direct shares, on exchanges are only pass-throughs

How does this work in practice? Where do you/buy/store the shares??

Think AsicMiner shares.

I'm sure more will be explained later as this is probably something they didn't expect either.

[Puppet]

Direct shares means no more 3rd party. Good luck with that, especially with Labcoin :p

Then its a good thing we all know the RL identity of theswede and where his business is incorporated and were his datacenter is, right?
I mean, we do know that, dont we?

[VolanicEruptor]

Direct shares means no more 3rd party. Good luck with that, especially with Labcoin :p

Then its a good thing we all know the RL identity of theswede and where his business is incorporated and were his datacenter is, right?
I mean, we do know that, dont we?

theswede is only a spokesperson, and has never seen the other members of the team in person

[AngelSky]

Direct shares means no more 3rd party. Good luck with that, especially with Labcoin :p

Then its a good thing we all know the RL identity of theswede and where his business is incorporated and were his datacenter is, right?
I mean, we do know that, dont we?

Lol!

Frankly:
- Buying direct shares to FC, no problemo.
- Buying direct shares to Labcoin ? No, thanks.

Best option for LC at this point is to move to BitFunder IMO.

[BitCsByBit]

Direct shares means no more 3rd party. Good luck with that, especially with Labcoin :p

Then its a good thing we all know the RL identity of theswede and where his business is incorporated and were his datacenter is, right?
I mean, we do know that, dont we?

Lol!

Frankly:
- Buying direct shares to FC, no problemo.
- Buying direct shares to Labcoin ? No, thanks.

Best option for LC at this point is to move to BitFunder IMO.

Direct Shares will be just an interim solution until they manage to list the asset on an another exchange.
No Labcoin shareholders will lose any shares!

[abuelau]

I think this update was reassuring. Still some questions in the air, but it kind of explains what's on their mind and how they see this going forward.

Good stuff.

[AngelSky]

Direct Shares will be just an interim solution until they manage to list the asset on an another exchange.
No Labcoin shareholders will lose any shares!

If it is an interim solution, then yes, why not. But at the moment, we'll have to wait for something more precise than:

We will also evaluate listing again on another exchange.

[Puppet]

Direct shares means no more 3rd party. Good luck with that, especially with Labcoin :p

Then its a good thing we all know the RL identity of theswede and where his business is incorporated and were his datacenter is, right?
I mean, we do know that, dont we?

theswede is only a spokesperson, and has never seen the other members of the team in person

Are you saying he doesnt control the IPO bitcoins? And that not only we have no frigging idea who does, but quite possibly, even the "spokesperson" doesnt ?

[Bitcycle]

Direct Shares will be just an interim solution until they manage to list the asset on an another exchange.
No Labcoin shareholders will lose any shares!

If it is an interim solution, then yes, why not. But at the moment, we'll have to wait for something more precise than:

We will also evaluate listing again on another exchange.

Bizarre they don't already have more details. I mean, they've had entire minutes.

[dexX7]

Are you saying he doesnt control the IPO bitcoins?

He didn't. It's "labcoin" who has control over their BTCT account.

[BitCsByBit]

Direct Shares will be just an interim solution until they manage to list the asset on an another exchange.
No Labcoin shareholders will lose any shares!

If it is an interim solution, then yes, why not. But at the moment, we'll have to wait for something more precise than:

We will also evaluate listing again on another exchange.

Of course they will evaluate. There is more than 1 exchange out there they and all of them have different rules.

Ukyo already posted about it earlier.