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

[JohnyBigs]

The price is going to hit .00001 there are still 10 days before the exchange closes, then you'll see prices plummet.

[JohnyBigs]

These guys still haven't posted pictures of their supposed mining boards lol.

[Luckybit]

Anyone know if labcoin sold their own shares?

Unlikely. If they sold their shares the price would crash way down. Also their shares are at IPO level so they really can't sell them at a profit. That is why its stupid to sell below IPO level and why I think buying at 0.0005 is smart. it's going to go up to IPO level if Labcoin wants to sell their shares. Remember they have to use their shares to pay themselves.

They could have sold them slowly over time. Also they don't have to use them to pay themselves, they can just take the money or just point some of their hashers somewhere else for a while.

At this point I think some people just want to take their money and run, and others might actually be thinking the price might go even lower. Some people might have wanted to try selling at 0.0008 and buying at 0.0006

But now in addition to the omnipresent "failure to hash" risk, there's also the exchange risk.  It's possible they might screw up the share transfer as well, which means even if they do start hashing it could be a long time before people are actually able to sell their shares.

It's also possible they could have lied about going to direct shares which means once the exchange goes down it's game over. At least if they are the only ones left holding any shares and its far below IPO price when it reaches an exchange if it does then it will be very cheap to get a lot of shares anyway.  0.0006 at this point is too high given the emotional nature of the market, people will definitely drive the price down to below 0.0005 as more people check the message board and dump their shares. It could even go so far as to reach 0.0001 as we get closer to October shutdown.

Isn't it a strange coincidence that they want shareholders to wait until October 5th or so when the site just happens to shut down at around the same time? These correlations should creep anyone out who thinks about buying or who owns shares.

Could Labcoin be the reason for the site shutting down?

[Luckybit]

The price is going to hit .00001 there are still 10 days before the exchange closes, then you'll see prices plummet.

Then I guess the smartest thing for shareholders to do now is pull all the way out and wait until bottom. It's probably never going to reach IPO price again unless they hash with 1TH before the exchange shuts down.

So it's simple. The risk is they wont get to hashing above 1TH before 10 days. If you think they'll get to 1TH in 10 days then hold. If you think that is unlikly then dump all your shares and buy back in when it reaches 0.0001 when they miss their deadline and the exchange shuts down.

When it appears on the new exchange the price should be 0.0001 or even lower. Also looking at the attitudes of the people here, it seems at this point even the whales and strongest supporters are selling which is a sign to get out.

[kingcrimson]

These guys still haven't posted pictures of their supposed mining boards lol.

Werent you a cheerleader defending their every move? What happened?

[zumzero]

How's the investment going bALLBREAKER?


What?  ... I'm not laughing.. erm .. honest.

[cp1]

It's also possible they could have lied about going to direct shares which means once the exchange goes down it's game over. At least if they are the only ones left holding any shares...

That would mean that they are the only ones buying shares.  I wouldn't bet on them holding any shares.

[Luckybit]

These guys still haven't posted pictures of their supposed mining boards lol.

Werent you a cheerleader? What happened?

The fact that the cheerleaders are now talking like this is the clearest signal to sell you can have. Imagine if Warren Buffet told you to sell?

[JohnyBigs]

These guys still haven't posted pictures of their supposed mining boards lol.

Werent you a cheerleader defending their every move? What happened?

trying to pick up cheaper shares

[JohnyBigs]

These guys still haven't posted pictures of their supposed mining boards lol.

Werent you a cheerleader? What happened?

The fact that the cheerleaders are now talking like this is the clearest signal to sell you can have. Imagine if Warren Buffet told you to sell?

No this is a clear signal to buy, you clearly don't know how billionaires trade. But yes sell all your shares as this is a big scam

[Luckybit]

It's also possible they could have lied about going to direct shares which means once the exchange goes down it's game over. At least if they are the only ones left holding any shares...

That would mean that they are the only ones buying shares.  I wouldn't bet on them holding any shares.

The fact that Swede and Sam aren't responding saying buy shares or aren't buying massive amounts of shares themselves is also very telling. If Labcoin had a future then with the shares this far below IPO they'd he breaking their asses to get in here to get the share prices to be profitable for themselves. At these prices the shares are now in the red even for Labcoin founders.

They could buy shares with their own money boosting the price while giving a meaningless speech, but the fact that they don't even care enough to do that means Labcoin is probably a  dead project. It's safe to say not only did the chips not work but they probably never existed at all.

[JohnyBigs]

Their last payment was over 7 Hours ago, they are not even hashing anymore. WOW

[Luckybit]

These guys still haven't posted pictures of their supposed mining boards lol.

Werent you a cheerleader defending their every move? What happened?

trying to pick up cheaper shares

Sure, I don't believe you want cheap shares. Because the closer we get to October the cheaper the shares will get. The mining rate has dropped every day. Everything they claim to do is the exact opposite of what they do. Labcoin is a troll stock, have fun.

[Luckybit]

Their last payment was over 7 Hours ago, they are not even hashing anymore. WOW

It's also possible that Labcoin is mining with their own chips privately and saying its in solomode while they use those coins to buy cheap shares when people panic.

Since they always say the opposite of what they mean and we have no transparency anything is possible.

Who is Howard Wang? Is he even really in China? Or is he somewhere in the US mining with an Avalon? The chips did not even have working IC's and the photos looked like they could have been photoshopped. There is no evidence the chips were even real because no one has seen a miner in operation and they don't plan to sell them either.

[zumzero]

Relax, everything is fine.


WARNING -- This asset has been flagged for potential violation of their Stockholder Agreement. More information is available here. Please place your orders accordingly.


EDIT:   And yes, I do believe LC is the reason btct.co is shutting down.

[kleeck]

Their last payment was over 7 Hours ago, they are not even hashing anymore. WOW

It's also possible that Labcoin is mining with their own chips privately and saying its in solomode while they use those coins to buy cheap shares when people panic.

Since they always say the opposite of what they mean and we have no transparency anything is possible.

Who is Howard Wang? Is he even really in China?

Are you serious right now? Are you just going to spout off ridiculous "possibilities"?

"It's also possible that this is all a scheme by burnside to offload the blame for shutting down BTCT-TC because he was ready to pursue other interests. He created Labcoin and paid off TheSwede75 to "represent" the company. TheSwede75 also runs the Labcoin account. The plan was for the whole operation to be believable but never show any significant proof of any real hashing power. Burnside would then red-flag the asset, and start rumors that it was Labcoin that drew attention to BTC-TC which resulted in the closure of the site."*

LOOK MAH NO HANDS!

*This is made up bullshit, just like LuckyBits "theory".

[Luckybit]

Their last payment was over 7 Hours ago, they are not even hashing anymore. WOW

It's also possible that Labcoin is mining with their own chips privately and saying its in solomode while they use those coins to buy cheap shares when people panic.

Since they always say the opposite of what they mean and we have no transparency anything is possible.

Who is Howard Wang? Is he even really in China?

Are you serious right now? Are you just going to spout off ridiculous "possibilities"?

"It's also possible that this is all a scheme by burnside to offload the blame for shutting down BTCT-TC because he was ready to pursue other interests. He created Labcoin and paid off TheSwede75 to "represent" the company. TheSwede75 also runs the Labcoin account. The plan was for the whole operation to be believable but never show any significant proof of any real hashing power. Burnside would then red-flag the asset, and start rumors that it was Labcoin that drew attention to BTC-TC which resulted in the closure of the site."*

LOOK MAH NO HANDS!

*This is made up bullshit, just like LuckyBits "theory".

So why aren't they hashing or moving to direct shares? Why aren't they on a new exchange?

THEY DO NOT CARE ABOUT INVESTORS.

Have fun playing the game. It's just gambling and you lost.

[moribana]

EDIT:   And yes, I do believe LC is the reason btct.co is shutting down.

Is there any evidence of this?

[zumzero]

There are only 9 bids between 0.0005 and 0.00018.

This is going to get really interesting very quickly...

[Luckybit]

There are only 9 bids between 0.0005 and 0.00018.

This is going to get really interesting very quickly...

When it gets to 0.00018 that might be the time to buy back in. It's definitely going to crash through the floor @ 0.0005. A lot of people are going to lose a lot of money if they don't get out now. Around 5 BTC for 40,000 shares or so is a fair gamble for this stock, anything else is way over priced.  

Is it worth betting 5 BTC that they'll reach 1TH? how many of you are willing to bet 5 BTC that they can before October? If you wont then you should buy in even lower than 0.00018 until you reach a price in BTC that you're willing to bet. This is basically a prediction market at this point.

If it gets down to 0.00004 per share then you can get 40,000 Labcoin shares for around 1.6 BTC. The funny thing is the closer to October we get the lower the risk will be. Wait to buy until the last minute before the site shuts down for the best prices, because the panic today is nothing like it will be in October.