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

[physalis]

The money is lost even if it is a ponzi scheme. Their silence speaks volumes. If it were anyone else running a legit operation they would be freaking out about these share prices. They'll let the price drop to 0 and not care when a corporation is supposed to legally profit for shareholders? It doesn't make sense.

You don't know what their scam is in the end. It could just as well be that they have working hardware, but want all the profit for themselves. So they create uncertainty with all their bullshit, suspiciously show very little hashing etc and drive the price down close to zero, then buy up all the shares. And then suddenly, when everyone has completely lost trust and they have 99+% of the shares, they suddenly do start to openly mine and can say "well, we told you all along, you just didn't have trust in us", thus saving themselves from the legal threats. The stock price would shoot up again dramatically and they would have earned millions in share appreciation already, let alone the mining income.

I don't really think that is the scam they're doing, but it could just as well be. All that I'm practically sure of is that they are doing a scam, whatever the exact scheme might be.

Just get out of this mess and buy yourself some safe and reliable ASICMINER.

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[Luckybit]

This stock is worth less than 0.0001 now. There is a strong chance that legal action will be taken. Too many people have lost too much money and the Labcoin team seems not to care.

Think of how many people lost their life savings from this. Millions of dollars were lost.

[Luckybit]

The money is lost even if it is a ponzi scheme. Their silence speaks volumes. If it were anyone else running a legit operation they would be freaking out about these share prices. They'll let the price drop to 0 and not care when a corporation is supposed to legally profit for shareholders? It doesn't make sense.

You don't know what their scam is in the end. It could just as well be that they have working hardware, but want all the profit for themselves. So they create uncertainty with all their bullshit, suspiciously show very little hashing etc and drive the price down close to zero, then buy up all the shares. And then suddenly, when everyone has completely lost trust and they have 99+% of the shares, they suddenly do start to openly mine and can say "well, we told you all along, you just didn't have trust in us", thus saving themselves from the legal threats. The stock price would shoot up again dramatically and they would have earned millions in share appreciation already, let alone the mining income.

I don't really think that is the scam they're doing, but it could just as well be. All that I'm practically sure of is that they are doing a scam, whatever the exact scheme might be.

Just get out of this mess and buy yourself some safe and reliable ASICMINER.

That is possible too but that would probably still be a crime.

[merv77]

anyone remember what happen to BTCGarden with the person who complained to Chinese police...

If someone done similar (contact Chinese police and complained about ponzi scheme) they would be forced to shut down and return investors money.

I'll be in China in 3 weeks, we may have to group up to make it more credible when complaining.

PS. I personally don't want to go this path but if they turn out to be fraudulent then justice needs to be served... "The Law Way"

I think that they still have one final chance to prove themselves. Let's wait for their next communication before we decide what to do next.

Seriously I don't want to go this path, I would like them to come good and just communicate (as we all do) no matter how bad the situation is.

there seems to be many smart people involve (including investors) and maybe we could all input suggestions on how to get best results for all investors.
If they're having major problems with this 1st gen chip, maybe they should just drop it and use all resources on 2nd gen chip.   /just a suggestion  

[keewee]

User "Labcoin" has a Skype Name in his Profile named "delaria"

User  "Delaria" on bitcointalk  is a italian Guy who run 3 avalons some months ago under the Name "Labcoin"

Dont you guys think User "Labcoin"  is an italian aka Fabrizio?

Got a link for that second claim? If this is true, I revise my opinion.

batch 1 and 2 batch 2 devices running at 350 Mhz. 

[onecent]

The money is lost even if it is a ponzi scheme. Their silence speaks volumes. If it were anyone else running a legit operation they would be freaking out about these share prices. They'll let the price drop to 0 and not care when a corporation is supposed to legally profit for shareholders? It doesn't make sense.

You don't know what their scam is in the end. It could just as well be that they have working hardware, but want all the profit for themselves. So they create uncertainty with all their bullshit, suspiciously show very little hashing etc and drive the price down close to zero, then buy up all the shares. And then suddenly, when everyone has completely lost trust and they have 99+% of the shares, they suddenly do start to openly mine and can say "well, we told you all along, you just didn't have trust in us", thus saving themselves from the legal threats. The stock price would shoot up again dramatically and they would have earned millions in share appreciation already, let alone the mining income.

I don't really think that is the scam they're doing, but it could just as well be. All that I'm practically sure of is that they are doing a scam, whatever the exact scheme might be.

Just get out of this mess and buy yourself some safe and reliable ASICMINER.

well...what you said is exactly the same as what I thought

[velacreations]

This stock is worth less than 0.0001 now.

finally, someone is starting to get it.

[velacreations]

we advise anyone to purchase more shares now that they are cheap.

[physalis]

The money is lost even if it is a ponzi scheme. Their silence speaks volumes. If it were anyone else running a legit operation they would be freaking out about these share prices. They'll let the price drop to 0 and not care when a corporation is supposed to legally profit for shareholders? It doesn't make sense.

You don't know what their scam is in the end. It could just as well be that they have working hardware, but want all the profit for themselves. So they create uncertainty with all their bullshit, suspiciously show very little hashing etc and drive the price down close to zero, then buy up all the shares. And then suddenly, when everyone has completely lost trust and they have 99+% of the shares, they suddenly do start to openly mine and can say "well, we told you all along, you just didn't have trust in us", thus saving themselves from the legal threats. The stock price would shoot up again dramatically and they would have earned millions in share appreciation already, let alone the mining income.

I don't really think that is the scam they're doing, but it could just as well be. All that I'm practically sure of is that they are doing a scam, whatever the exact scheme might be.

Just get out of this mess and buy yourself some safe and reliable ASICMINER.

That is possible too but that would probably still be a crime.

Oh yes, definitely. But you couldn't prove it. "Bla bla communication issues, language barrier, we told you just to wait till end of october"

[abuelau]

User "Labcoin" has a Skype Name in his Profile named "delaria"

User  "Delaria" on bitcointalk  is a italian Guy who run 3 avalons some months ago under the Name "Labcoin"

Dont you guys think User "Labcoin"  is an italian aka Fabrizio?

Got a link for that second claim? If this is true, I revise my opinion.

batch 1 and 2 batch 2 devices running at 350 Mhz. 

Holy shit...

[well.attenuated]

The money is lost even if it is a ponzi scheme. Their silence speaks volumes. If it were anyone else running a legit operation they would be freaking out about these share prices. They'll let the price drop to 0 and not care when a corporation is supposed to legally profit for shareholders? It doesn't make sense.

You don't know what their scam is in the end. It could just as well be that they have working hardware, but want all the profit for themselves. So they create uncertainty with all their bullshit, suspiciously show very little hashing etc and drive the price down close to zero, then buy up all the shares. And then suddenly, when everyone has completely lost trust and they have 99+% of the shares, they suddenly do start to openly mine and can say "well, we told you all along, you just didn't have trust in us", thus saving themselves from the legal threats. The stock price would shoot up again dramatically and they would have earned millions in share appreciation already, let alone the mining income.

I don't really think that is the scam they're doing, but it could just as well be. All that I'm practically sure of is that they are doing a scam, whatever the exact scheme might be.

Just get out of this mess and buy yourself some safe and reliable ASICMINER.

well...what you said is exactly the same as what I thought

This is what I said last week

I predict bad/non-news.

I think they have functional hardware and are working on getting it up and running.  I think they don't care about share price staying up; in fact, i think they are trying to keep/bring it down with these terrible announcements.  They almost comically contain no relevant content and always come out at the last possible second.  The announcements are also very efficient at moving the price of the stock.  I think LC believes in their company and is trying to acquire more of it "in-house" with these swings.  That's why they haven't sold any shares but haven't locked them with Burnside as to maintain speculation and price swings.  Not until more of the company is self acquired will we see real progress in these announcements, and they will have built a large company off a free loan in the form of their IPO.

I think holding for the long term will be rewarded but there could be some incredible downward swings in the meantime as stronger and stronger hands are shaken out by worse and worse news.

[velacreations]

I think we need to hear from dhenson and Mabsark.  You know, they were the real fan boys telling everyone to buy at .0038, when we were telling everyone to sell.

Where are those guys?

[GreekGeek]

I should have left the minute I heard an Italian guy was involved
(no offence to Italians I would do same if a Greek was involved)  

[Puppet]

Thats pretty compelling. Leaves little doubt in my mind they are mining with avalons and it becomes harder to believe Fabrizzio wouldnt be more deeply involved.

Call me naive, but Im still inclined to believe work is or was  being done on some 180 or 130nm asic, just that are using the avalons to hide the problems they are having; lying about having 2TH online and now Fabrizzio distancing himself from labcoin isnt helping the credibility.

Anyway, this is not my mess, what ever comes of this, best of luck.

[ampu]

Just found this googling around

http://archive.is/p1fI5

It's in italian, could translate it but got not time.. use google translate..

[ishkur]

Someone spoke to him apparently in the early days and he said he "signed some documents" but wasn't really involved with the operation.

This is hidden somewhere in the last 800 or so pages.

Without knowing what he signed, its kind of hard to prove he is complicit or liable. But if at least he is aware of "labcoin" then he should be able to point to the right people.

Personally I wouldnt waste my time finding a possibly imagined chinese from ghana ("sam"),  Id focus on theswede first. He is (I think?) in the US, legally liable for facilitating and promoting public sales of unregistered securities and should know the identity of the other people behind labcoin if there is anyone else behind it.

Maybe this is a start:
http://www.mingles.com/theswede75/

and this:
https://twitter.com/TheSwede75
(Andrew James @TheSwede75 born in MN, live in the OC and married to Kristi. Long Beach, CA)

If we could find out which fab produced the first batch, it is not so difficult to find the document he signed.

I live next to long beach so I can pay a visit

[BitCsByBit]

Even if this is not a scam,  no exchange will list Labcoin in this state.

Can you even imagine the mess with the direct shares, no liquidity, trying to sell/buy in the forum auctions.

How can we rely on them to do the transfers and to manage 10 million shares?

[abuelau]

Just found this googling around

http://archive.is/p1fI5

It's in italian, could translate it but got not time.. use google translate..

Very interesting. So it seems the mastermind is Alessia Tatti (could be Fabrizio's wife or Sister). She's the one behind the Delaria account (which explains the Italian there).

This also explains why Fabrizio would sign documents under his company's name. Because he trusts her obviously.

[ampu]

Just found this googling around

http://archive.is/p1fI5

It's in italian, could translate it but got not time.. use google translate..

Very interesting. So it seems the mastermind is Alessia Tatti (could be Fabrizio's wife or Sister). She's the one behind the Delaria account (which explains the Italian there).

This also explains why Fabrizio would sign documents under his company's name. Because he trusts her obviously.

Could be this https://www.facebook.com/tatti.alessia since she's in friends list of https://www.facebook.com/fabrizio.tatti/friends

[BitCsByBit]

Just found this googling around

http://archive.is/p1fI5

It's in italian, could translate it but got not time.. use google translate..

Very interesting. So it seems the mastermind is Alessia Tatti (could be Fabrizio's wife or Sister). She's the one behind the Delaria account (which explains the Italian there).

This also explains why Fabrizio would sign documents under his company's name. Because he trusts her obviously.

TheSeven mentioned that he was in touch with Alessia over Skype regarding the Gen2 chip design.