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

[abuelau]

I bought some. The price seem to have stabilized now, and I think that the odds are that Labcoin will come with news in the next few days and the price will go up, even if back to .001 but that would still give me 100% profit.

For those that haven't read the last 700 pages, I have been one of Labcoin's most vocal supporters.  The following has been a long time coming, and I have held my tongue for too long.

The price has only stabilized because Vela filled his bids and is waiting for enough profit to start the cycle over again.  Once the price creeps back up around .0009-001 Velacreations will be back with his FUD show and all of his little FUDlings will follow suit and the price will crater even further.  There is no point in buying now as Labcoin is still weeks away from significant hashing increases (when their new chips arrive). Vela will have orchestrated 5 more cycles by then and the price will be 1/5th what it is now.

Bitcoin investors don't take lack of news well and we are in for a long news drought.  Combined with King FUD Vela's FUD slinging cycle you can be assured of lower stock prices in the near future.

If I sound bitter it's because I am... I have over 215 BTC invested and will most likely never see it again.  That's on me, but the lack of communication from whomever 'Labcoin' is in my opinion is the real culprit here.  Not Vela or those manipulating the price for their own gain, in fact I can applaud their success.  If Labcoin was open and honest, there wouldn't have been any room for them to sling their FUD.

Labcoin, I don't know if you have noticed or not, but your stock has completely tanked due to non-existent investor confidence.  Your strategy of withholding information so that the bad news doesn't hurt the share prices has failed.  It's time for full disclosure, warts and all.  Tell us EXACTLY what is wrong and the steps you are taking to resolve them.  Tell us why Howard Wang is no longer involved and if/when he is being replaced.  In short, and I don't use expletives casually, TELL US WHAT THE FUCK IS GOING ON!

Yep, that's the unfortunate reality. I have much less than you, about 5x less in fact, but still it's still very significant for me. I am also considering that the money was lost but deep inside I know that's only a worst case scenario, in reality I still see a 30-50% chance of getting that money and more back.

[kingcrimson]

Are they still hashing? So the chatter about 3 TH yesterday turned out to be BS?

[KS]

They still receive .05BTC.

[ishkur]

Are they still hashing? So the chatter about 3 TH yesterday turned out to be BS?

I think they have it set to payout .05 every hour.  There is extra BTC in there account (which we will see) when they do a manual payout.  

They were doing this yesterday

We probably wont see anything for a few hours since its 3:50am there.

[zumzero]

I bought some. The price seem to have stabilized now, and I think that the odds are that Labcoin will come with news in the next few days and the price will go up, even if back to .001 but that would still give me 100% profit.

For those that haven't read the last 700 pages, I have been one of Labcoin's most vocal supporters.  The following has been a long time coming, and I have held my tongue for too long.

The price has only stabilized because Vela filled his bids and is waiting for enough profit to start the cycle over again.  Once the price creeps back up around .0009-001 Velacreations will be back with his FUD show and all of his little FUDlings will follow suit and the price will crater even further.  There is no point in buying now as Labcoin is still weeks away from significant hashing increases (when their new chips arrive). Vela will have orchestrated 5 more cycles by then and the price will be 1/5th what it is now.

Bitcoin investors don't take lack of news well and we are in for a long news drought.  Combined with King FUD Vela's FUD slinging cycle you can be assured of lower stock prices in the near future.

If I sound bitter it's because I am... I have over 215 BTC invested and will most likely never see it again.  That's on me, but the lack of communication from whomever 'Labcoin' is in my opinion is the real culprit here.  Not Vela or those manipulating the price for their own gain, in fact I can applaud their success.  If Labcoin was open and honest, there wouldn't have been any room for them to sling their FUD.

Labcoin, I don't know if you have noticed or not, but your stock has completely tanked due to non-existent investor confidence.  Your strategy of withholding information so that the bad news doesn't hurt the share prices has failed.  It's time for full disclosure, warts and all.  Tell us EXACTLY what is wrong and the steps you are taking to resolve them.  Tell us why Howard Wang is no longer involved and if/when he is being replaced.  In short, and I don't use expletives casually, TELL US WHAT THE FUCK IS GOING ON!

Yep, that's the unfortunate reality. I have much less than you, about 5x less in fact, but still it's still very significant for me. I am also considering that the money was lost but deep inside I know that's only a worst case scenario, in reality I still see a 30-50% chance of getting that money and more back.

This is EXACTLY why buying shares is looney tunes.  Labcoin have their heads in the sand and the fact that they are saying nothing about really important matters is an awfully bad omen.  The reality is they know doing so would damage share price and shareholder confidence irreversibly.

[velacreations]

The price has only stabilized because Vela filled his bids and is waiting for enough profit to start the cycle over again.  Once the price creeps back up around .0009-001 Velacreations will be back with his FUD show and all of his little FUDlings will follow suit and the price will crater even further.  There is no point in buying now as Labcoin is still weeks away from significant hashing increases (when their new chips arrive). Vela will have orchestrated 5 more cycles by then and the price will be 1/5th what it is now.

Bitcoin investors don't take lack of news well and we are in for a long news drought.  Combined with King FUD Vela's FUD slinging cycle you can be assured of lower stock prices in the near future.

If I sound bitter it's because I am... I have over 215 BTC invested and will most likely never see it again.  That's on me, but the lack of communication from whomever 'Labcoin' is in my opinion is the real culprit here.  Not Vela or those manipulating the price for their own gain, in fact I can applaud their success.  If Labcoin was open and honest, there wouldn't have been any room for them to sling their FUD.

I don't own Labcoin and haven't since I sold at .0038. I have been upfront with my comments about Labcoin, and never used my comments to "manipulate" the share price to my advantage. My comments have always been warnings to people who may not know the situation.

I do remember you encouraging people to buy all the way down, though.  You were wrong about the company, about their legitimacy, and about their value.  You encouraged people to purchase shares, even when value was decreasing rapidly.  The manipulator here is you!  And on top of everything else, you convinced newbies to ignore the only voices of reason on this thread, and instead, listen to you and the Fan Boys pump up the price so you could sell your shares to unsuspecting newcomers.  Congratulations!

Aside from JohnyBigs, I can't think of any bagholder that deserves his losses as much as you.  

The voices of reason on your little list were warning people all along.  Where is the evidence?  Where is the legitimate communication?  All the while, you made fun of those criticisms, and look where you are, now.

The security you support lies to it's shareholders, misses deadlines, sells 1M shares, doesn't prove hardware, doesn't communicate, etc, etc, etc.  I didn't "manipulate" that, they did. I have merely pointed out that Labcoin is overvalued, and I used Labcoin's (and their supporter's) math to show that.  You know, like when we heard how rich everyone would be when Labcoin had 10% of the network?  Well, when they have .05% of the network, that same math can show how they are SEVERELY OVERVALUED.

And I was right, as the share price continues to show.

[Ytterbium]

Labcoin, I don't know if you have noticed or not, but your stock has completely tanked due to non-existent investor confidence.  Your strategy of withholding information so that the bad news doesn't hurt the share prices has failed.  It's time for full disclosure, warts and all.  Tell us EXACTLY what is wrong and the steps you are taking to resolve them.  Tell us why Howard Wang is no longer involved and if/when he is being replaced.  In short, and I don't use expletives casually, TELL US WHAT THE FUCK IS GOING ON!

now you're complaining about it?

Anyway, yeah it totally sucks.  But if the company isn't a total scam, or the entire first-gen chips aren't complete failures then I don't think there's much to worry about.

The big drag on prices is the fact that the future of the stock is so uncertain. People don't know if it'll be listed anywhere else, or if they're competent to manage all the shares manually. And that's a huge problem, but if it gets solved the price should recover somewhat.

The other problem, of course is that the longer they fail to hash the lower the 'true' price is - so if they announce a move to bitfunder two weeks from now and their hashrate still hasn't improve then, well, they're still kinda fucked.

I think at this point, the only realistic thing to do is just wait for the exchange issues to get sorted out at this point.

It's pretty common for startups to have delays and issues. And most corporations don't communicate every technical detail to their customers.

The problem is that that even a slight delay can kill profitability at this point in the difficulty growth curve, plus you have a lot of newbie investors probably poring way too much BTC into this for their own good, plus the massive scam potential, massive trolling in the thread, and you have a recipe for far more drama then you'd see with a typical startup.

[minerpart]

This is so manipulated its unreal.  Price can be made to crash again at any moment. 

Seriously guys STAY AWAY.  Haven't most of you lost enough already? Get out and do not come back this is a money pit.

[bitwhizz]

why is labcoin going up?

[KS]

exactly

[dwdoc]

The reason is dropped so low was no news plus no hashing. Now there is just no news.

[zumzero]

Price will drop below 0.0005 before to long.

[moribana]

The reason is dropped so low was no news plus no hashing. Now there is just no news.

Well, hashing is also next to nothing...

[minerpart]

why is labcoin going up?

Pure manipulation. Big sellers are creating artificial buying interest to attract new buyers before dumping their large holdings onto them.  Its a classic move, do not be hooked in, keep your money safe.

[moribana]

why is labcoin going up?

Pure manipulation. Big sellers are creating artificial buying interest to attract new buyers before dumping their large holdings onto them.  Its a classic move, do not be hooked in, keep your money safe.

Doesn't seem very likely. You have to buy a lot more than you can sell.

[bitwhizz]

Howard Wang

- Team Leader at Research Institute of Tsinghua University in Shenzhen




So surely we should be getting on the phone to the


''Research Institute of Tsinghua University in Shenzhen''

If we do this we could find out if Howard Wang is even a real person or an alias or whatever, i would but unfortunately i do not speak chineese

Administrative office: Room A402，the Research Institute of Tsinghua University in ShenZhen Building.
Address: Shenzhen High-Tech Industrial Estate ,Nanshan, shenzhen
Tel: 86-755-26551329
Fax: 86-755-26551038
Postal Code: 518057
E-mail: xiefy@tsinghua-sz.org
To visit us: By bus?Airport Line 8, 20, 51, 109, 121 Stop: Baishi Road

...
Secondly

Fabriozzi itec company is in

Unit 1010, Miramar Tower, 132 Nathan Road
Tsim Sha Tsui, Kowloon
Hong Kong,
HONG KONG
This location is infact a shopping center which probably has lots of small shops in it, which i presume itec would be one of them, therefore you have to ask the number below for itec pro store and undergoe further investigation such as asking if their is a shop and who owns it, etc etc, as these jerks behind labcoin are supposedly the ceo of this company

Hong Kong Office - Headquarter
Primary Contact Method

  Address : Unit 1010, 10/F, Miramar Tower, 132 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong
  Email : Info@AsiaBS.com
  Tel : (852) 8102 2592
  Fax : (852) 8102 2593
Secondary Contact Method

If above primary contact do not work, please use below (which may happen when client is from certain country)

  Email : AsiaBusinessService@Gmail.com
  Tel : (852) 3188 3539
 

This once again needs a call to make sure the information stated is correct that fabriozzi actually has an itec company, and would actually confirm the identity of samuel noi, if anyone can speak japanese please call them and pick at the reciever with lots of questions, also get the store number for itec pro, so you can pick at the emplyees with lots of questions, i don;t think we can take anything for facevalue anymore, we need to find if any information is true which they have given us

[ishkur]

I've reached out to fabrizio yesterday.

I am waiting for his reply. 

[bitwhizz]

I've reached out to fabrizio yesterday.

I am waiting for his reply. 

How? email? voicemail?

[dhenson]

Fabriozzi itec company is in

Unit 1010, Miramar Tower, 132 Nathan Road
Tsim Sha Tsui, Kowloon
Hong Kong,
HONG KONG
This location is infact a shopping center which probably has lots of small shops in it, which i presume itec would be one of them, therefore you have to ask the number below for itec pro store and undergoe further investigation such as asking if their is a shop and who owns it, etc etc, as these jerks behind labcoin are supposedly the ceo of this company

Hong Kong Office - Headquarter
Primary Contact Method

  Address : Unit 1010, 10/F, Miramar Tower, 132 Nathan Road, Tsim Sha Tsui, Kowloon, Hong Kong
  Email : Info@AsiaBS.com
  Tel : (852) 8102 2592
  Fax : (852) 8102 2593

In the other labcoin thread, the 'Labcoin' account claiming to be Samual Noi stated that address was just a forwarding address. They don't actually have a storefront or a shop in the Miramar Tower.

[Puppet]

I suggest a separate thread for doxing.

For the record, I posted my conversation with fabrizio earlier:
https://bitcointalk.org/index.php?topic=263445.msg3246741#msg3246741

And howard wang's linkedin profile is also posted several times in this thread, he is no longer in HK, but in the US.