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

[Ytterbium]

They just got a transaction.  

9/23/2013 15:07 UTC they got 0.1 BTC
9/23/2013 15:47 UTC they got 0.15 BTC  a manual payout that would include extra, but bring their ballance to zero

Then 9/23/2013 16:17 they got another manual payout  0.29072199 BTC, over a half hour period.  

At 112628549 difficulty, that comes out to 3.2Th/s.

9/23/2013 15:07 UTC they got 0.15 BTC

Hmm, you're right.  Doesn't change the 3.2Th/s though.  That's just based on the difference between 9/23/2013 15:47
and 9/23/2013 16:17.

It sounds like they updated their auto-payment amount as well. 0.15/h comes out to 830Gh/s, which is their current team rate.

[Bitcycle]

They just got a transaction.  

9/23/2013 15:07 UTC they got 0.1 BTC
9/23/2013 15:47 UTC they got 0.15 BTC  a manual payout that would include extra, but bring their ballance to zero

Then 9/23/2013 16:17 they got another manual payout  0.29072199 BTC, over a half hour period.  

At 112628549 difficulty, that comes out to 3.2Th/s.

9/23/2013 15:07 UTC they got 0.15 BTC

Hmm, you're right.  Doesn't change the 3.2Th/s though.  That's just based on the difference between 9/23/2013 15:47
and 9/23/2013 16:17.

It sounds like they updated their auto-payment amount as well. 0.15/h comes out to 830Gh/s, which is their current team rate.

Why has the team rate not increased?

[abuelau]

They just got a transaction.  

9/23/2013 15:07 UTC they got 0.1 BTC
9/23/2013 15:47 UTC they got 0.15 BTC  a manual payout that would include extra, but bring their ballance to zero

Then 9/23/2013 16:17 they got another manual payout  0.29072199 BTC, over a half hour period.  

At 112628549 difficulty, that comes out to 3.2Th/s.

9/23/2013 15:07 UTC they got 0.15 BTC

Hmm, you're right.  Doesn't change the 3.2Th/s though.  That's just based on the difference between 9/23/2013 15:47
and 9/23/2013 16:17.

It sounds like they updated their auto-payment amount as well. 0.15/h comes out to 830Gh/s, which is their current team rate.

So in other words: if in the next 2 or 3 hours we see 0.15BTC per hour, we are still with ~800Gh/s. If we see something like 0.3BTC per hour we are around 1.5Th/s and if we see 0.6TH/s we are at ~3TH/s.

This is the easy math!

[Ytterbium]

Actually, if they're using multiple accounts, the large payouts could be buildup in those multiple accounts.  Which means they might not actually have 3.2TH/s

I suppose they may not want to have a lot of fluxuation in their hashrate, as it might cause all kinds of crazy panic if it goes up and down as they "stabilize" their equipment. The extra hashrate should show up once they add the other accounts to the team (Or just switch them to workers on their main account).

I can understand why they'd not want to have their hashrate unstable, but I don't think it's that big of a deal.

[Ytterbium]

They just got a transaction.  

9/23/2013 15:07 UTC they got 0.1 BTC
9/23/2013 15:47 UTC they got 0.15 BTC  a manual payout that would include extra, but bring their ballance to zero

Then 9/23/2013 16:17 they got another manual payout  0.29072199 BTC, over a half hour period.  

At 112628549 difficulty, that comes out to 3.2Th/s.

9/23/2013 15:07 UTC they got 0.15 BTC

Hmm, you're right.  Doesn't change the 3.2Th/s though.  That's just based on the difference between 9/23/2013 15:47
and 9/23/2013 16:17.

It sounds like they updated their auto-payment amount as well. 0.15/h comes out to 830Gh/s, which is their current team rate.

So in other words: if in the next 2 or 3 hours we see 0.15BTC per hour, we are still with ~800Gh/s. If we see something like 0.3BTC per hour we are around 1.5Th/s and if we see 0.6TH/s we are at ~3TH/s.

This is the easy math!

Yeah.  Oh and this is factoring in a 3% pool fee.  But basically getting paid 0.1BTC/h is equivalent to 553.5 BTC.

The thing is, if you have an auto-pay of, say, 0.1. You'll get paid 0.1 every hour. Even if your account is making 0.15 BTC every hour.   So you build up an excess, which can be drained by doing a manual payout, which clears your balance.

If you look at their pay log, it looks like the auto payments are sent out every hour at 7 past the hour. Very consistent.  The manual payments are always sent at 17 or 47 past the hour, but not every hour.  Just whenever someone pushes a button.

[JohnyBigs]

There goes the bid wall

[abuelau]

They just got a transaction.  

9/23/2013 15:07 UTC they got 0.1 BTC
9/23/2013 15:47 UTC they got 0.15 BTC  a manual payout that would include extra, but bring their ballance to zero

Then 9/23/2013 16:17 they got another manual payout  0.29072199 BTC, over a half hour period.  

At 112628549 difficulty, that comes out to 3.2Th/s.

9/23/2013 15:07 UTC they got 0.15 BTC

Hmm, you're right.  Doesn't change the 3.2Th/s though.  That's just based on the difference between 9/23/2013 15:47
and 9/23/2013 16:17.

It sounds like they updated their auto-payment amount as well. 0.15/h comes out to 830Gh/s, which is their current team rate.

So in other words: if in the next 2 or 3 hours we see 0.15BTC per hour, we are still with ~800Gh/s. If we see something like 0.3BTC per hour we are around 1.5Th/s and if we see 0.6TH/s we are at ~3TH/s.

This is the easy math!

Yeah.  Oh and this is factoring in a 3% pool fee.  But basically getting paid 0.1BTC/h is equivalent to 553.5 BTC.

The thing is, if you have an auto-pay of, say, 0.1. You'll get paid 0.1 every hour. Even if your account is making 0.15 BTC every hour.   So you build up an excess, which can be drained by doing a manual payout, which clears your balance.

If you look at their pay log, it looks like the auto payments are sent out every hour at 7 past the hour. Very consistent.  The manual payments are always sent at 17 or 47 past the hour, but not every hour.  Just whenever someone pushes a button.

Right. So we need to keep an eye in the next couple of payouts at 07 past the hour to see if they are back to 0.1BTC or stay at 0.15BTC....

[redbeans2012]

They just got a transaction.  

9/23/2013 15:07 UTC they got 0.1 BTC
9/23/2013 15:47 UTC they got 0.15 BTC  a manual payout that would include extra, but bring their ballance to zero

Then 9/23/2013 16:17 they got another manual payout  0.29072199 BTC, over a half hour period.  

At 112628549 difficulty, that comes out to 3.2Th/s.

9/23/2013 15:07 UTC they got 0.15 BTC

Hmm, you're right.  Doesn't change the 3.2Th/s though.  That's just based on the difference between 9/23/2013 15:47
and 9/23/2013 16:17.

It sounds like they updated their auto-payment amount as well. 0.15/h comes out to 830Gh/s, which is their current team rate.

Why has the team rate not increased?

I think they test their boards with another team to get them running.  When they are running right, they put them on the labcoin team.   The extra payouts are from the other boards mining. (just a hunch)

[Ytterbium]

They just got a transaction.  

9/23/2013 15:07 UTC they got 0.1 BTC
9/23/2013 15:47 UTC they got 0.15 BTC  a manual payout that would include extra, but bring their ballance to zero

Then 9/23/2013 16:17 they got another manual payout  0.29072199 BTC, over a half hour period.  

At 112628549 difficulty, that comes out to 3.2Th/s.

9/23/2013 15:07 UTC they got 0.15 BTC

Hmm, you're right.  Doesn't change the 3.2Th/s though.  That's just based on the difference between 9/23/2013 15:47
and 9/23/2013 16:17.

It sounds like they updated their auto-payment amount as well. 0.15/h comes out to 830Gh/s, which is their current team rate.

Why has the team rate not increased?

Ask them.

[JohnyBigs]

10, 000k sell here come the panics lol

[JohnyBigs]

How will they pay dividends when btct is closed, really really slow?

[velacreations]

How will they pay dividends when btct is closed, really really slow?

JB, are you a FUDster now? 
From saying LC would hit 5btc yesterday to today panicking about the BTCT shutdown...

[Ytterbium]

Okay, added a 4 payment period  window to my spreadsheet.  If they're using multiple accounts, then the payouts may just be buildup, not 3.2Th/s on one account.  

Based on a sliding window we get:


Time (UTC)         payment      hashrate estimate over last 4 payouts.
9/23/2013  9:07      0.1        553.6473506
9/23/2013 10:07      0.1        553.5704605
9/23/2013 11:07      0.1        553.5704605
9/23/2013 12:07      0.1        553.6473506
9/23/2013 12:47      0.12248177 638.6066053
9/23/2013 13:07      0.1        779.487881
9/23/2013 14:07      0.1        779.5600491
9/23/2013 15:07      0.15       871.9003811
9/23/2013 15:47      0.15263979 927.5528756
9/23/2013 16:17      0.29072199 1214.078822

[Ytterbium]

Party time guys.

[Bitcycle]

So you're saying...

...they increased their hashrate as promised?

[abuelau]

Oh right, that's really what we need, more people making promises and raising expectations too early.

Wait another 3 hours before tou start to party.

[GreekGeek]

Party time guys.

[Ytterbium]

Oh right, that's really what we need, more people making promises and raising expectations too early.

Wait another 3 hours before tou start to party.

The people who make money on the stock market are the ones who evaluate information the fastest

[5:06] <jeffhuys_> !balance
[5:06] <StalkBot> Address 17psAW21J4twanAFWmbcd5WdX2pKeX3trm contains 12.32728404 BTC
[5:06] <StalkBot> Last transaction was 49 minutes, 47 seconds ago
[5:06] <StalkBot> Transaction: http://blockchain.info/tx-index/90794935
[5:06] <yttr> should see 1.5 in about a minute
[5:07] <bobbabot> 17psAW21J4twanAFWmbcd5WdX2pKeX3trm just recived: ~0.150 BTC
[5:07] <Kleeck__> you think?
[5:07] <StalkBot> [ DEPOSIT TO Labcoin's signed address (17psAW21J4twanAFWmbcd5WdX2pKeX3trm) ]
[5:07] <StalkBot> [ Deposit amount: 0.15 BTC. -> http://blockchain.info/tx-index/90802208 ]
[5:07] <StalkBot> [ New balance at that address is now 12.47728404 BTC. ]
[5:07] <jeffhuys_> haha nice
[5:07] <yttr> yes
[5:07] <bobbabot> [BUY ] 1000 @ 0.00149700 ~ 1.497 BTC
[5:07] <yesminister> heh
[5:07] <Rulother> damn
[5:07] <yttr> sorry
[5:07] <yttr> 0.15
[5:07] <yttr> :P
[5:07] <yttr> I meant

[ThePeshMod]

So you're saying...

...they increased their hashrate as promised?

Actually my calculations would show a ~722 GH/s averaging yesterday and today. Averaging just today, it's ~748 GH/s. So not very promising.

[FloatesMcgoates]

ROFL @ whoever is buying Ytterbium's pump attempts.

Labcoin's statistics are visible at http://www.btcguild.com/index.php?page=rankings&section=teams where their hashrate hasnt increased in 3 days. Some pumper (probably Ytterbium himself) is using his or her accounts at other mining sites and redirecting funds to labcoin's wallet. Labcoin does not have "hidden accounts", it has one account which is visible at the above link.