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

[moneymanagment]

No one can verify who runs this shit show. literally no proof of anyone. For all we know its LC  keeping the price from completely collapsing

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[moneymanagment]

Notice the 60 and 30 million buy orders at .0000001. huh who would do that?

Someone who doesn't know how many shares there are?

What ever you know what I mean 10,000,000 shares I understand

[moneymanagment]

FUCK the SWEDE

[Ytterbium]

never urged anyone to buy shares, cry more, they can still hit 5BTC a share with hashing and hardware sales, if they actually deliver.

dude, I was there, don't act like it didn't happen.  We all remember.

They can NEVER hit 5 btc a share.  Ever.

show me your tears of rage

I can show you where I sold at .0038, and you held until .00038...

true. 5 btc a share would value their company at over 1 billions dollars. Just stupid to claim that

More importantly, it would make them worth 50 million bitcoins.  I think you can see the problem with that theory. The only way it could potentially happen is if they diversified into non-bitcoin related businesses and made a killing, like more then a couple billion dollars a year.

[minerpart]

thats it, enough is enough,
I think we need to prepare outselves for the likely event that this is a scam, we need to collect information on labcoin  as we will probably need to contact the authorities on this matter, if we all contact them claiming our losses and the scamming nature of this business, we might be able to locate our money and get more than what we will have left by selling the stock at this price back, i have lost about 80 percent of my bitcoin from this stupid stock and have been given bullshit ambiguous answers by labcoinand even theswede who should be way more on top of things. and i'm sure alot of other investors are feeling the same thing

So we will need

The full names of those involved - which i think we have

The IP adress of the logins of Labcoin - which we should be able to get

The location - country and state of those individuals behind labcoin -

And a contact cumber for the authorities were those involved behind labcoin is located -

We can then make a seperate thread where we can all post our individual case numbers and make sure that we are all mutually updated
 

Excellent post actually. 80%, I feel for you but you are remaining positive which is all you can do.

The problem is, these people have weeks head start. The longer this illusion goes on the more they can cover their tracks. They are currently in exfil mode. They will be clearing out any premises they may have hired, litterally cleaning it of prints, selling any miners they bought to fix the Hashing scam side, converting tens of thousands of BTC into FIAT. This is what really takes the time, as does clearing it round many banks before making it untraceable/withdrawable by multiple 'agents'. Not a small scam so it needs time to unfold.

[MikeyVeez]

thats it, enough is enough,
I think we need to prepare outselves for the likely event that this is a scam, we need to collect information on labcoin  as we will probably need to contact the authorities on this matter, if we all contact them claiming our losses and the scamming nature of this business, we might be able to locate our money and get more than what we will have left by selling the stock at this price back, i have lost about 80 percent of my bitcoin from this stupid stock and have been given bullshit ambiguous answers by labcoinand even theswede who should be way more on top of things. and i'm sure alot of other investors are feeling the same thing

So we will need

The full names of those involved - which i think we have

The IP adress of the logins of Labcoin - which we should be able to get

The location - country and state of those individuals behind labcoin -

And a contact cumber for the authorities were those involved behind labcoin is located -

We can then make a seperate thread where we can all post our individual case numbers and make sure that we are all mutually updated
 

Excellent post actually. 80%, I feel for you but you are remaining positive which is all you can do.

The problem is, these people have weeks head start. The longer this illusion goes on the more they can cover their tracks. They are currently in exfil mode. They will be clearing out any premises they may have hired, litterally cleaning it of prints, selling any miners they bought to fix the Hashing scam side, converting tens of thousands of BTC into FIAT. This is what really takes the time, as does clearing it round many banks before making it untraceable/withdrawable by multiple 'agents'. Not a small scam so it needs time to unfold.

And shit just got real for Labcoin, I hope tatti, his sister, swede, and sam are ready for some jail time.

[Puppet]

So we will need

The full names of those involved - which i think we have

The location - country and state of those individuals behind labcoin -

First of all, we dont have that info yet. AFAIK, we do not know who theswede is, nor is it clear who "samuel noi" is.

Secondly, why did you not think of asking these questions before investing?

FWIW, I dont think this is an outright scam, but if you give a million dollar to someone anonymous, it rarely ends well.

[GreekGeek]

no one is going to jail
they will just the buy shares back below IPO and continue with the minning business,
remember they don't have to achive 50Th if they buy the shares for IPO/10

[minerpart]

no one is going to jail
they will just the buy shares back below IPO and continue with the minning business,
remember they don't have to achive 50Th if they buy the shares for IPO/10

So why have they sold 1MILL shares if that's their plan? Totally the opposite behaviour.

Oh, and what mining business? Any proof yet?

[GreekGeek]

no one is going to jail
they will just the buy shares back below IPO and continue with the minning business,
remember they don't have to achive 50Th if they buy the shares for IPO/10

So why have they sold 1MILL shares if that's their plan? Totally the opposite behaviour.

Oh, and what mining business? Any proof yet?

you don't get it
They sold 1M shares to make money (coins)
they will buy it back for a tenth (maybe less maybe more) of the IPO price, making loads of coins
then they will spend a fraction to buy some miners, to be legally protected
and claim they had problems in production and couldn't achieve the goals and deadlines

nothing illegal in that, is there?


edit: it's probably them buying right now @~(IPO/2)

 

[auto2nr1]

Any ideas on where this new payment just came in from?

http://blockchain.info/tx/91692102235cc8d8379725476f3e578535a8f6636becfff1b4c1f360f612e39a

[Puppet]

no one is going to jail

Whether or not jail time is a risk, Issuing and selling unregistered securities and selling them publicly to unsophisticated investors is a fairly serious thing. As illustration:

A federal judge ruled that two Florida penny stock traders who issued unregistered shares of the defunct Universal Express must pay fines of $14 million and $5.3 million.
http://www.bizjournals.com/southflorida/news/2011/09/19/universal-express-penny-stock-traders.html

Whether or not they fix their asics wont change a thing about that. But of course its not only labcoin running that risk.

[minerpart]

you don't get it
They sold 1M shares to make money (coins)
they will buy it back for a tenth (maybe less maybe more) of the IPO price, making loads of coins
then they will spend a fraction to buy some miners, to be legally protected
and claim they had problems in production and couldn't achieve the goals and deadlines

nothing illegal in that, is there?


 

Yes that is illegal. It goes against their IPO Stockholder contract. Those shares should not have been sold. If they are intending to buy back, then they have manipulated the market and broken the Shareholder bond both of which would be considered jail term behaviour. If you are happy for this company to manipulate the stock and wipe out 80% of it's shareholders money then you need to wake up and smell the coffee. This stock is certainly NOT going back to where it was.

[KSGuy]

Funny thing; disabling my secondary monitor I can make a screenshot, of anything except the Chrome browser window. Its just not there.
But I managed to grab a screenshot using a chrome plugin. Not sure if it proves anything, but here you go:
http://imageshack.us/photo/my-images/809/ac9g.png/

Sorry, but that is as credible as this:

Good to see my image getting some use

[minerpart]

A federal judge ruled that two Florida penny stock traders who issued unregistered shares of the defunct Universal Express must pay fines of $14 million and $5.3 million.
http://www.bizjournals.com/southflorida/news/2011/09/19/universal-express-penny-stock-traders.html

Whether or not they fix their asics wont change a thing about that. But of course its not only labcoin running that risk.

Another excelent post tonight. So you are saying even if this company now start to Hash away as they promissed and meet their deadline the court cases launched by ripped off share holders/SEC investigation will see ALL of their balance sheet profit paid out in fines. So essentially this company can NEVER make a profit. If they do Hash the proceeds will be taken away in fines.

Good news for all. Read, and please TAKE NOTE.

[GreekGeek]

you don't get it
They sold 1M shares to make money (coins)
they will buy it back for a tenth (maybe less maybe more) of the IPO price, making loads of coins
then they will spend a fraction to buy some miners, to be legally protected
and claim they had problems in production and couldn't achieve the goals and deadlines

nothing illegal in that, is there?


 

Yes that is illegal. It goes against their IPO Stockholder contract. Those shares should not have been sold. If they are intending to buy back, then they have manipulated the market and broken the Shareholder bond both of which would be considered jail term behaviour. If you are happy for this company to manipulate the stock and wipe out 80% of it's shareholders money then you need to wake up and smell the coffee. This stock is certainly NOT going back to where it was.

they don't have to sell their percentage of the shares, they just have to buy back the ones they gave through the IPO cheaper
what better way to achieve tthat than to give no updates

[superduh]

no one is going to jail

Whether or not jail time is a risk, Issuing and selling unregistered securities and selling them publicly to unsophisticated investors is a fairly serious thing. As illustration:

A federal judge ruled that two Florida penny stock traders who issued unregistered shares of the defunct Universal Express must pay fines of $14 million and $5.3 million.
http://www.bizjournals.com/southflorida/news/2011/09/19/universal-express-penny-stock-traders.html

Whether or not they fix their asics wont change a thing about that. But of course its not only labcoin running that risk.

jurisdictions. they matter and are freaking confusing to deal with regardless

[minerpart]

jurisdictions. they matter and are freaking confusing to deal with regardless

If US shareholders have been effected then this is by default SEC territory. The US government is tireless in it's hunt for multimillion dollar fraudsters. International extradition warrents take a day to sort out and almost every country in the Western World has an agreement to uphold these extradition warrents.

[Bitcycle]

You people continue to amuse me with your little dances.

[redbeans2012]

jurisdictions. they matter and are freaking confusing to deal with regardless

If US shareholders have been effected then this is by default SEC territory. The US government is tireless in it's hunt for multimillion dollar fraudsters. International extradition warrents take a day to sort out and almost every country in the Western World has an agreement to uphold these extradition warrents.

Getting bigger payouts to the address now.. averaging the last 4 payouts its about 1.8 TH