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

[BitCsByBit]

Is there any real argument against bitfunder? It is a no brainer to list there.

WeExchange is an argument against it.

+1

What's the problem people have with WeExchange?  I'm not saying it's not a problem or anything - I'm actually not very familiar with it.

It looks like it's straight out of the 90s, and if it wasn't Ukyo behind it I sincerely doubt anyone would trust it enough to use it.  Also using it with your Bitfunder account isn't exactly straight forward.

Edit:  It's still miles better than Havelock or 796.

Ukyo has mentioned that he will be making updates to the site.

[Luckybit]

Is there any real argument against bitfunder? It is a no brainer to list there.

WeExchange is an argument against it.

+1

What's the problem people have with WeExchange?  I'm not saying it's not a problem or anything - I'm actually not very familiar with it.

It looks like it's straight out of the 90s, and if it wasn't Ukyo behind it I sincerely doubt anyone would trust it enough to use it.  Also using it with your Bitfunder account isn't exactly straight forward.

Edit:  It's still miles better than Havelock or 796.

Bitfunder doesn't even support Yubikey. It's 2-factor is some weird Google shit.

It's just not that good.

[dhenson]

Exchanges should really learn from btct.co as you need 2-factor for everything.  Even if you had a keylogger, the 2-factor wasn't re-usable and was very safe.

Most sites only require 2-factor upon log in and don't require you to re-enter it when withdrawing or trading.

btct.co is far ahead of anyone else in that regard.

[freedomno1]

Exchanges should really learn from btct.co as you need 2-factor for everything.  Even if you had a keylogger, the 2-factor wasn't re-usable and was very safe.

Most sites only require 2-factor upon log in and don't require you to re-enter it when withdrawing or trading.

btct.co is far ahead of anyone else in that regard.

Hmm havelock had Gauth thought that was 2 FA?

[szmarco]

There is an unofficial news.
796 will public a new withdraw fee policy soon.
Every account will have some zero fee withdraw chances according to the VIP level. For example,Level 4 users have 4 free times.

[Ytterbium]

There is an unofficial news.
796 will public a new drawing fee policy soon.
Every account will have some zero fee drawing chances according to the VIP level. For example,Level 4 users have 4 free times.

That's still ridiculous.  I realize they need to make money to cover their expenses some how but there shouldn't really be any fee to withdraw.

[BitThink]

The last payout interval is 5 hours (UTC 18:17 - UTC 23:07). Now is 3 hours after the last payment (UTC 2:12). It seems the hashing rate has decreased a lot. Now it's less than 250GH. What happened? There's no daily adding, but daily decreasing?

[szmarco]

The owner said that the withdraw fee was a firewall to defeat the hostile withdraws except covering expenses.

[radiumsoup]

There is an unofficial news.
796 will public a new drawing fee policy soon.
Every account will have some zero fee drawing chances according to the VIP level. For example,Level 4 users have 4 free times.

That's still ridiculous.  I realize they need to make money to cover their expenses some how but there shouldn't really be any fee to withdraw.

to me, it seems designed to keep btc on deposit, which suggests to me they do not keep all users' bitcoins available for withdrawal.

edit:

if what szmarco says is indeed true, that would confirm my suspicion. I'd never put coins there. If labcoin moves to 796, I will divest.

[AngelSky]

The last payout interval is 5 hours (UTC 18:17 - UTC 23:07). Now is 3 hours after the last payment (UTC 2:12). It seems the hashing rate has decreased a lot. Now it's less than 250GH. What happened? There's no daily adding, but daily decreasing?

Welcome to Labcoin.

[BitThink]

There is an unofficial news.
796 will public a new drawing fee policy soon.
Every account will have some zero fee drawing chances according to the VIP level. For example,Level 4 users have 4 free times.

That's still ridiculous.  I realize they need to make money to cover their expenses some how but there shouldn't really be any fee to withdraw.

That restriction make me suspect they are using the deposit somewhere else. BTCT also restricts withdrawing by manual processing, but it can be explained by the demand of security. Adding withdrawing fee, however, does not help security at all.

 The only explanation is that they prefer the money stay in the stock as much as possible, and probably not all the BTC are staying in the exchange and be used somewhere else.

[BitThink]

The owner said that the withdraw fee was a firewall to defeat the hostile withdraws except covering expenses.

Then my suspect is confirmed.

[szmarco]

The owner said that the withdraw fee was a firewall to defeat the hostile withdraws except covering expenses.

Then my suspect is confirmed.

I'am afraid not.
the hostile withdraws means too many meaningless withdraw requests which will add too many meaningless work jobs and slow down the regular quests.

I suggest you take a few minutes to register a test account to find this exchange's advantages.

[BitThink]

The owner said that the withdraw fee was a firewall to defeat the hostile withdraws except covering expenses.

Then my suspect is confirmed.

I'am afraid not.
the hostile withdraws means too many meaningless withdraw requests which will add too many meaningless work jobs and slow down the regular quests.

I suggest you take a few minutes to register a test account to find this exchange's advantages.

In that case, they can just give everyone at least 1 free withdraw per day. Moreover, the free withdraw can be given to only old users to avoid abusing with newly created accounts.

[szmarco]

The owner said that the withdraw fee was a firewall to defeat the hostile withdraws except covering expenses.

Then my suspect is confirmed.

I'am afraid not.
the hostile withdraws means too many meaningless withdraw requests which will add too many meaningless work jobs and slow down the regular quests.

I suggest you take a few minutes to register a test account to find this exchange's advantages.

In that case, they can just give everyone at least 1 free withdraw per day. Moreover, the free withdraw can be given to only old users to avoid abusing with newly created accounts.

yea, I agree with you as a user. They have their own stock and want to appreciate the stockholder of their own. few zero-fee chances is an advance than before anyway.

BTW,I love their stock borrowing and lending function.

[arousedrhino]

Is there any real argument against bitfunder? It is a no brainer to list there.

WeExchange is an argument against it.

+1

Whats the argument?

[redbeans2012]

Anyone know when the "hashpower added daily" supposed to kick in?  

[lzr1900]

Daily decreasing hashrate,really disappointed.

[Ytterbium]

There is an unofficial news.
796 will public a new withdraw fee policy soon.
Every account will have some zero fee withdraw chances according to the VIP level. For example,Level 4 users have 4 free times.

Still a dealbreaker for me.

Neo & Bee (IMO) was a very good indicator of where the liquidity is located.  In the first couple days of their VIPO they raised thousands of BTC on Bitfunder, almost as much on BTC-TC, and only about 700B on Havelock.  HOW ARE YOU GOING TO TRADE AN ASSET THAT HAS A MARKET CAP OF AT LEAST 8,000 btc ON AN EXCHANGE THAT HAS (almost certainly) LESS LIQUIDITY THAN HAVELOCK?!  (usurious fees, and probably fractional BTC reserve, are only the smallest problems with the 796 exchange idea).

Don't pay any attention to 796 shills.  It's a terrible idea promoted by shills and others who don't know that that ship has already sunk.  If 796 manages to con Labcoin into migrating there then bank on a crash in share price much below ipo levels.  

If Labcoin moves to Havelock, then obviously people will move their BTC there to buy shares.

[redbeans2012]

Labcoin is going to have a hard time going anywhere if they don't stick to their words.