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

[minerpart]

1) SEC is only civil claims. doubt they would be able to even get an extradition for that. 2) 1 million scam is small compared to the shit tons of scams going on nonstop in this world 3) certain countries won't extradite their citizens to US for this kind of stuff, russia, china, many others 4) hopefully it wont have to come down to that 5) it's a mess regardless

My last post on this topic-

This is a new industry, this company had 5MILL in it not 1MILL, this type of 'early adopter fraud' will be used for a test case, to set a standard. This type of event is EXACTLY what the authorities will be looking for to set a line in the sand. This will be used as a warning for future operators.

If BTC is going to be as big as we all think then this sort of thing WILL be targetted. The US will not want another Mafia to grow up around the BTC world. Corruption, scamming, organised crime WILL NOT BE TOLERATED. It will be annihilated.

[1715020890]

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[1715020890]

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[minerpart]

that is the biggest joke ever. "hard" "crackdown" for the papers maybe. the country is run by corrupt and crooked practices - i'm surprised you are not aware of that. there's 1 headline corruption case for every 100 corrupt people. you made me chuckle. people who are aware of china know that china is ok with corruption as long as it's on the hush hush

One word - BTCGarden

[creativex]

If BTC is going to be as big as we all think then this sort of thing WILL be targetted. The US will not want another Mafia to grow up around the BTC world. Competition in corruption, scamming, organised crime WILL NOT BE TOLERATED. It will be usurped.

FTFY

[TsuyokuNaritai]

[22:45] <StalkBot> Estimated hashrate between the last 4 deposits [3031.31 GH/sec]
[22:45] <StalkBot> Mining 0.41451209 over 1 hour, 1 second at 148819200 difficulty
[22:45] <StalkBot> Team 'labcoin' not in the top 25 at BTCGuild page -> http://tinyurl.com/k7357rj

Thoughts?

[zumzero]

So we are all in agreement that LC is indeed  a scam, and that legal proceedings are a possibility for those involved.

But what I'd like to know is what will happen over the next couple of days and weeks for those whale shareholders with over 100,000 shares each.

Are they likely to hope that they don't lose the lot if btct.co closes its doors and they still haven't sold up?  Surely that is an inordinate risk.

Will they leave it until the last minute to sell?  This would be akin to financial suicide though as the share price would be driven down with the panic.

One thing's for sure, there are quite a few of them left holding and it's only a matter of time until they play their hands.  

It's going to become very interesting, very soon.

LOL.

How low is your bid?

very

[moneymanagment]

If this goes to charges filed the only person id like to see get fucked is the swede75 who ever the fuck he/she is?

[ishkur]

[22:45] <StalkBot> Estimated hashrate between the last 4 deposits [3031.31 GH/sec]
[22:45] <StalkBot> Mining 0.41451209 over 1 hour, 1 second at 148819200 difficulty
[22:45] <StalkBot> Team 'labcoin' not in the top 25 at BTCGuild page -> http://tinyurl.com/k7357rj

Thoughts?

They are all probably mining solo to test stability.  I'd assume after a day they would rejoin the labcoin team name.

Maybe they finally sorted out the issues

[auto2nr1]

[22:45] <StalkBot> Estimated hashrate between the last 4 deposits [3031.31 GH/sec]
[22:45] <StalkBot> Mining 0.41451209 over 1 hour, 1 second at 148819200 difficulty
[22:45] <StalkBot> Team 'labcoin' not in the top 25 at BTCGuild page -> http://tinyurl.com/k7357rj

Thoughts?

Maybe it could be any of of the miners in the User Ranking?

[Bitcycle]

Great time to unload your shares if you believe it's a scam.

If it's a scam, it's never going to be this high again.

If it's a scam.

[MikeyVeez]

[22:45] <StalkBot> Estimated hashrate between the last 4 deposits [3031.31 GH/sec]
[22:45] <StalkBot> Mining 0.41451209 over 1 hour, 1 second at 148819200 difficulty
[22:45] <StalkBot> Team 'labcoin' not in the top 25 at BTCGuild page -> http://tinyurl.com/k7357rj

Thoughts?

Maybe it could be any of of the miners in the User Ranking?

They are still getting .05 every hour which is half of their 800gh/sec everything else is noise until they start getting those numbers every hour.

[KarmaShark]

Great time to unload your shares if you believe it's a scam.

If it's a scam, it's never going to be this high again.

If it's a scam.

Well said.


If this is a scam this is one of your last chances to dump for any value.


If this is not a scam, you have been presented with a rare opportunity to own a % of a mining company on ze cheap.

[kingcrimson]

Great time to unload your shares if you believe it's a scam.

If it's a scam, it's never going to be this high again.

If it's a scam.

Well said.


If this is a scam this is one of your last chances to dump for any value.


If this is not a scam, you have been presented with a rare opportunity to own a % of a mining company on ze cheap.

It is gambling at this point, none of us have any more info than anyone else.

[zumzero]

How could it possibly be a scam?

[ewibit]

They are still getting .05 every hour which is half of their 800gh/sec everything else is noise until they start getting those numbers every hour.

and it was 0.15...

[Puppet]

My last post on this topic-

This is a new industry, this company had 5MILL in it not 1MILL, this type of 'early adopter fraud' will be used for a test case, to set a standard. This type of event is EXACTLY what the authorities will be looking for to set a line in the sand. This will be used as a warning for future operators.

I tend to agree. This isnt so much about labcoin specifically as it is about "bitcoin stocks" in general. Its only a matter of time before the SEC and other authorities will set the record straight on what is and what isnt allowed. Burnside made it clear he considers himself in serious trouble, and I wouldnt be surprised if his asicminer PT is causing him more trouble even than btcst itselve.  He advised everyone else involved in these assets to seek legal counsel.  No one seems to be taking that seriously and everyone is just worried about liquidity, stock prices and what exchange to move to next.

Big mistake IMO.

[zumzero]

Perfect time to sell and make a quick buck as the price should now start to come down again after the pump...

[Mabsark]

[22:45] <StalkBot> Estimated hashrate between the last 4 deposits [3031.31 GH/sec]
[22:45] <StalkBot> Mining 0.41451209 over 1 hour, 1 second at 148819200 difficulty
[22:45] <StalkBot> Team 'labcoin' not in the top 25 at BTCGuild page -> http://tinyurl.com/k7357rj

Thoughts?

Maybe it could be any of of the miners in the User Ranking?

They are still getting .05 every hour which is half of their 800gh/sec everything else is noise until they start getting those numbers every hour.

BTC/day can be calculated in the following manner:

BTC/day = 86,400 * 25 * MHR / (D * 2^32)

where MHR is the miner's hash rate and D is the difficulty.

Labcoin have got 5.20656058 BTC over about 3 1/3 days since the dividend, giving around 1.57774563 BTC/day. This gives a hash rate of about:

BTC = 86400 * 25 * MHR / (D * 2^32)
D * 2^32 * BTC / (86400 * 25) = MHR
148819200 * 2^32 * 1.57774563 / (86400 * 25) = 467 Gh/s

[twentyseventy]

I'm taking 1 BTC and .5BTC bets that LC is at .0001 in 24 hours. On your honor and name. I have 10 BTC to spare

I'll take that bet for .5BTC. 24 hours from your post, the price must be above .0001 for it to settle in my favor, at .0001 or lower, it will settle in your favor.

Deal?

Edit: last trade at that time will be the deciding 'price'

Deal 

/handshake

.0001?

Yes, the bet that the price would be trading above .0001 (settles in my favor) or that it's trading at .0001 or lower (settles in your favor) at 06:38:35 PM Eastern Time tonight.

This would increase the stakes from .5BTC to 1BTC. Let me know if you're interested. Offer stands for the next 15 minutes, let's say.

Yes the plot does thicken, Game On, (shake)

Was that an agreement to my offer to double the stakes? Just want to be totally clear on this-

ok

Going to take that as a yes. /handshake

Well, moneymanagement, 24 hours has come and gone, please make good on the bet and send the 1BTC to my address at 16caqdKMggN2WzHx7znW9pwGt8b5G8sZMv

Cheers

[Mabsark]

And here comes the sell off...

[superduh]

And here comes the sell off...

all 6 bitcoins worth? i guess noone knows what to really say any longer regarding this shit