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

[moribana]

Those who concluded this is a complete scam please explain how this scam works? Who not just go with $700k and run away, actually they could get double of that value then. Why waste so much time just for the rest 30%? I cannot understand the logic.

Because this was planned as a long con, not just a quick 700k. They made a lot more than that.

"Why waste so much time just for the rest 30%?"
First, it wasn't as much time as you're thinking... What did they have to do? just follow this thread like most of us did, and post delay after delay in stupid one-liner posts. Make some bad photos/photoshops when pressure for proof gets too high (since there are enough suckers who'll gladly fall for some fake proof - yeah ytterbium, that's directed at you) - but that's about it. It's not really a job that keeps them very busy...

Second, these "rest 30%" were at times traded at 4x the IPO price. And they probably planned on pushing it up further, meanwhile gaming the market and making lots of money by trading. There is absolutely no doubt that they could make more money this way compared to just running away after IPO.

And third, and most importantly, because doing it as a long con (con comes from "confidence") creates an uncertain atmosphere around the victims, exactly what we have right now. Some people still believing that it's not a scam, some frustrated, everyone just falling over each other discussing it to death...
If they just ran away immediately with the money, everyone here would be happy holding hands and trying to bring them to justice. Instead, right now, how many are talking to the police, how many are planning to? It gives them time and it exhausts the collective need for justice.

They ran this scam very successfully and I have the feeling that they could have gone on much longer were it not for Burnside closing down the site.  That really screwed up the whole thing for them because it created an additional uncertainty as to where the shares will eventually go. This really tipped the scales against them.

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[Mabsark]

It is looking bad, but this has altered the risk reward ratio.. More risk and a much higher reward. I've bought some more as I love a gamble.. The whole premise of this from the beginning was a 1 in 10 shot of it happening. Now they have chips, but they are fucked or the pcb is fucked. Either way I don't believe it is vapourware or a scam. Ill be a bag holder if it is a scam, but that's why I've invested what I can afford to lose. I won't be bankrupt, I will be pissed off that I made a bad call. If people are investing more than they can afford to lose then they are the fools

Read the past 5 pages to aknowledge this is guaranteed a known scam, you are not gambling you are throwing your money down the bin.but hey maybe  you hit my sell orders

There hasn't been a single scrap of evidence showing that Labcoin is "guaranteed a known scam".

[bitwhizz]

It is looking bad, but this has altered the risk reward ratio.. More risk and a much higher reward. I've bought some more as I love a gamble.. The whole premise of this from the beginning was a 1 in 10 shot of it happening. Now they have chips, but they are fucked or the pcb is fucked. Either way I don't believe it is vapourware or a scam. Ill be a bag holder if it is a scam, but that's why I've invested what I can afford to lose. I won't be bankrupt, I will be pissed off that I made a bad call. If people are investing more than they can afford to lose then they are the fools

Read the past 5 pages to aknowledge this is guaranteed a known scam, you are not gambling you are throwing your money down the bin.but hey maybe  you hit my sell orders

There hasn't been a single scrap of evidence showing that Labcoin is "guaranteed a known scam".

copy and pasted from reddit as i can;t be bothered to write this all up my self........


All this info is public so does not count as doxxing or a witch hunt. This is merely connecting the dots of Labcoin. So one of the founders of Labcoin is 'Fabrizio Tatti' owner of iTec-Pro.
People discovered his sister Alessia under her skype account Delaria, chatting about beginning the Labcoin project: http://pastebin.com/1Rq8r4UW
Confirming Labcoin = Delaria : https://bitcointalk.org/index.php?action=profile;u=120219
Searches of Alessia(Delaria) point to a prior scam involvement with Alberto Armandi. They are husband and wife.
http://www.ripoffreport.com/r/ENSO-Co/internet/ENSO-Co-Alberto-Armandi-Alessia-Tatti-Promoting-ZenPad-like-the-IPAd-and-will-take-you-590629 owner of the vaporware scam company Enso:
http://www.engadget.com/2010/04/09/ensos-zenpad-is-vaporware-get-refunds-while-they-last/
Alberto is also a notorious scammer in the bitcoin community:
http://codinginmysleep.com/lessons-learned-from-the-bdt-fiasco/
Upon searching Fabrizio Tatti's friends list on Facebook, we see a direct match, he is affiliated with both scammers: https://i.imgur.com/pWl3uCS.png
Labcoin overview listing main players: https://i.imgur.com/nE7pVnT.png
Noi, Wang and Sparmann downplay their affiliation with Labcoin, or are unreachable.
Fabrizio plays dumb: https://i.imgur.com/TolLKn6.png
Alberto and Alessia I believe are playing under the Labcoin account. Compare Labcoin's responses to Alberto response's during his bdt scam: http://imgur.com/SJ47B8d
There is also evidence that TheSwede, the PR spokesman, took a 950 bitcoin payment to front the scam. http://imgur.com/rbnK68T
At the time Labcoin went live, TheSwede was on the forums trying to buy cars and Rolexes. http://imgur.com/bCNv8Bk
TLDR: The Labcoin scam has stolen 7000 bitcoins from the community + countless others who bought through day-trading.
EDIT: Labcoin responds: https://bitcointalk.org/index.php?topic=263445.15960 "We will explain everything tomorrow on IRC"




Not a scam?? 

[physalis]

There hasn't been a single scrap of evidence showing that Labcoin is "guaranteed a known scam".

I really suggest everyone reads the post on codinginmysleep, especially since now it's looking like it's the same guy running the scam as it was there.
The 7 lessons the author quoted are really good advice. The first 2 apply to what you're saying right now:

1. Everyone is guilty until proven innocent when they want a lot of money from you – “innocent until proven guilty” is great for law, not for business and you shouldn’t feel bad for giving an honest person a hard time if it also protects you from the cons.
2. When there’s a lot of evidence that something is awry, it probably is. A mountain of circumstantial evidence may not represent proof positive of a scam, but it should be enough to warn you away from the potential for one.

[bclcjunkie]

bingo as simple as it gets...

Then why are over 2 million shares still in the initial account?the scam makes 0 sense unless all the shares were traded. Burnside said the other day 66% of shares are still in the initial account. A sensible answer is that wang and other team members have been paid the shares.

That's really easy to answer... They just couldn't dump 3 million shares on the market in whole... There's little profit in that. That's why they need to create these waves in price with their suspiciously timed updates. It's no coincidence that this stock behaved like a day-traders wet dream.

[Puppet]

People unfamiliar with it should read up on bitdaytrade to see just how long alberto will be able to spin this.

Now I will say that in all of Alberto's previous "ventures" there was at least a some truth hidden behind all the lies. Enso did ship out a handful of tablets; they were not original designs as claimed, but just bought from an OEM, they were grotesquely late, didnt meet promised specs and it literally was just a handful (while claiming countless thousands units constantly). Mybitrade also appeared to have some underlying business based on bitscalper code IIRC, even though it never made a dime and all investors were screwed and are still waiting for their money. I still think there is a sliver of truth about Labcoin as well.

I cant find much on wozad, his earliest known venture that by is own admission was total failure too, instead of becoming a $5B business like the projected, but he seems proud of it anyway.

But in the end, whether Alberto is simply the worst 'serial entrepreneur' of all times or just a plain thief doesnt make too much difference for the prospects of labcoin.

[Mabsark]

It is looking bad, but this has altered the risk reward ratio.. More risk and a much higher reward. I've bought some more as I love a gamble.. The whole premise of this from the beginning was a 1 in 10 shot of it happening. Now they have chips, but they are fucked or the pcb is fucked. Either way I don't believe it is vapourware or a scam. Ill be a bag holder if it is a scam, but that's why I've invested what I can afford to lose. I won't be bankrupt, I will be pissed off that I made a bad call. If people are investing more than they can afford to lose then they are the fools

Read the past 5 pages to aknowledge this is guaranteed a known scam, you are not gambling you are throwing your money down the bin.but hey maybe  you hit my sell orders

There hasn't been a single scrap of evidence showing that Labcoin is "guaranteed a known scam".

copy and pasted from reddit as i can;t be bothered to write this all up my self........


All this info is public so does not count as doxxing or a witch hunt. This is merely connecting the dots of Labcoin. So one of the founders of Labcoin is 'Fabrizio Tatti' owner of iTec-Pro.
People discovered his sister Alessia under her skype account Delaria, chatting about beginning the Labcoin project: http://pastebin.com/1Rq8r4UW
Confirming Labcoin = Delaria : https://bitcointalk.org/index.php?action=profile;u=120219
Searches of Alessia(Delaria) point to a prior scam involvement with Alberto Armandi. They are husband and wife.
http://www.ripoffreport.com/r/ENSO-Co/internet/ENSO-Co-Alberto-Armandi-Alessia-Tatti-Promoting-ZenPad-like-the-IPAd-and-will-take-you-590629 owner of the vaporware scam company Enso:
http://www.engadget.com/2010/04/09/ensos-zenpad-is-vaporware-get-refunds-while-they-last/
Alberto is also a notorious scammer in the bitcoin community:
http://codinginmysleep.com/lessons-learned-from-the-bdt-fiasco/
Upon searching Fabrizio Tatti's friends list on Facebook, we see a direct match, he is affiliated with both scammers: https://i.imgur.com/pWl3uCS.png
Labcoin overview listing main players: https://i.imgur.com/nE7pVnT.png
Noi, Wang and Sparmann downplay their affiliation with Labcoin, or are unreachable.
Fabrizio plays dumb: https://i.imgur.com/TolLKn6.png
Alberto and Alessia I believe are playing under the Labcoin account. Compare Labcoin's responses to Alberto response's during his bdt scam: http://imgur.com/SJ47B8d
There is also evidence that TheSwede, the PR spokesman, took a 950 bitcoin payment to front the scam. http://imgur.com/rbnK68T
At the time Labcoin went live, TheSwede was on the forums trying to buy cars and Rolexes. http://imgur.com/bCNv8Bk
TLDR: The Labcoin scam has stolen 7000 bitcoins from the community + countless others who bought through day-trading.
EDIT: Labcoin responds: https://bitcointalk.org/index.php?topic=263445.15960 "We will explain everything tomorrow on IRC"




Not a scam??  

So where's the actual evidence?

Someone called "agath" and someone called "delaria" had a conversation involving bitcoins and ASICs. There's no mention of Labcoin or iTec Pro Ltd. Doe that prove Labcoin to be a scam? No.

The forum profile skype name does not confirm that Labcoin = delaria. I could set mine to "delaria" if I wanted to and there is more than on user on the internet called "delaria".

That ripoffreport is just a rant from a single dissatisfied customer.

There is no evidence showing that TheSwede took 950 BTC, just FUDsters suggesting it.

What TheSwede was buying with his BTC at the time of the IPO is irrelevant.


So, your "evidence" for Labcoin being a scam boils down to Fabrizio Tatti being Facebook friends with a scammer.

[BitThink]

Prove Alberto is involved in labcoin first. I haven't see the evidence to prove Alesia is Alberto's wife. Moreover, there's no evidence to exclude the possibility Alesia is not in this project anymore as said by labcoin.

[bitwhizz]

It is looking bad, but this has altered the risk reward ratio.. More risk and a much higher reward. I've bought some more as I love a gamble.. The whole premise of this from the beginning was a 1 in 10 shot of it happening. Now they have chips, but they are fucked or the pcb is fucked. Either way I don't believe it is vapourware or a scam. Ill be a bag holder if it is a scam, but that's why I've invested what I can afford to lose. I won't be bankrupt, I will be pissed off that I made a bad call. If people are investing more than they can afford to lose then they are the fools

Read the past 5 pages to aknowledge this is guaranteed a known scam, you are not gambling you are throwing your money down the bin.but hey maybe  you hit my sell orders

There hasn't been a single scrap of evidence showing that Labcoin is "guaranteed a known scam".

copy and pasted from reddit as i can;t be bothered to write this all up my self........


All this info is public so does not count as doxxing or a witch hunt. This is merely connecting the dots of Labcoin. So one of the founders of Labcoin is 'Fabrizio Tatti' owner of iTec-Pro.
People discovered his sister Alessia under her skype account Delaria, chatting about beginning the Labcoin project: http://pastebin.com/1Rq8r4UW
Confirming Labcoin = Delaria : https://bitcointalk.org/index.php?action=profile;u=120219
Searches of Alessia(Delaria) point to a prior scam involvement with Alberto Armandi. They are husband and wife.
http://www.ripoffreport.com/r/ENSO-Co/internet/ENSO-Co-Alberto-Armandi-Alessia-Tatti-Promoting-ZenPad-like-the-IPAd-and-will-take-you-590629 owner of the vaporware scam company Enso:
http://www.engadget.com/2010/04/09/ensos-zenpad-is-vaporware-get-refunds-while-they-last/
Alberto is also a notorious scammer in the bitcoin community:
http://codinginmysleep.com/lessons-learned-from-the-bdt-fiasco/
Upon searching Fabrizio Tatti's friends list on Facebook, we see a direct match, he is affiliated with both scammers: https://i.imgur.com/pWl3uCS.png
Labcoin overview listing main players: https://i.imgur.com/nE7pVnT.png
Noi, Wang and Sparmann downplay their affiliation with Labcoin, or are unreachable.
Fabrizio plays dumb: https://i.imgur.com/TolLKn6.png
Alberto and Alessia I believe are playing under the Labcoin account. Compare Labcoin's responses to Alberto response's during his bdt scam: http://imgur.com/SJ47B8d
There is also evidence that TheSwede, the PR spokesman, took a 950 bitcoin payment to front the scam. http://imgur.com/rbnK68T
At the time Labcoin went live, TheSwede was on the forums trying to buy cars and Rolexes. http://imgur.com/bCNv8Bk
TLDR: The Labcoin scam has stolen 7000 bitcoins from the community + countless others who bought through day-trading.
EDIT: Labcoin responds: https://bitcointalk.org/index.php?topic=263445.15960 "We will explain everything tomorrow on IRC"




Not a scam??  

So where's the actual evidence?

Someone called "agath" and someone called "delaria" had a conversation about involving bitcoins and ASICs. There's no mention of Labcoin or iTec Pro Ltd. Doe that prove Labcoin to be a scam? No.

The forum profile skype name does not confirm that Labcoin = delaria. I could set mine to "delaria" if I wanted to and there is more than on user on the internet called "delaria".

That ripoffreport is just a rant from a single dissatisfied customer.

There is no evidence showing that TheSwede took 950 BTC, just FUDsters suggesting it.

What TheSwede was buying with his BTC at the time of the IPO is irrelevant.


So, your "evidence" for Labcoin being a scam boils down to Fabrizio Tatti being Facebook friends with a scammer.

No evidence, all of this is just one massive coincidence related to the fallacy of labcoin. Get a grip of reality, i'm sure your in denial as you want hope that your shares might go back up, i've been burned too by this stock, i was hoping the same thing, but shits gotten real and its time to man  up and accept your losses and that this is a scam

[kingcrimson]

The husband/wife evidence was in Fabreeze's facebook, Alberto was listed as his brother-in-law. Someone took a pic a few pages back.

Also remember this isn't a court case where we have to convince a jury beyond reasonable doubt, the jury is your own common sense.

[BitThink]

Anyway, there's no difference between selling at current price and holding it to 0. Selling now may save me a couple of BTC, but it also just give some guys here a chance to double or triple their BTCs. Think carefully before selling. Moreover, Why do it now when there could be a very important chat soon? How can it be any worse tomorrow?

[kingcrimson]

Look at this scam:

https://www.odesk.com/o/jobs/job/_~~0004f9d9a9eea142/

The Location was posted as Italy, so for Tatti to claim he has no knowledge of Labcoin, is complete BS, this thing was posted Aug 2012.

Fishy Fishy like everything Labcoin related

Sam was supposed to be in China. Why would he be named 'Sam' anyway, it is a western name.

And the Labcoin handle really does type in more of a European way... we have plenty of Chinese posters here and they all have a distinctly different way of typing.

I really think that Sam = Alberto/Alessia

meanwhile labcoin is on the top 20 fastest miners and top 10 teams on btcguild.

https://www.btcguild.com//index.php?page=rankings&section=teams

We're raising additional funds for the project at a soddisfacent rate and the team is already onto some very good results.

not many chinaman will slip into italian tongue 

Wow great find.

This pretty much proves Sam Noi is not Chinese, he is Alberto using an italian to english translator. 

[matt4054]

Moreover, Why do it now when there could be a very important chat soon? How can it be any worse tomorrow?

Because, alas, most previous announcements of announcements had a direct impact on the share price, cutting it sometimes by half.

This is just the cold truth, sorry...

[alexius89]

as far as i know Alberto/Alessia = Delaria = Labcoin   are currently fraudster and will searched via European investigations. Its not easy to get evidence that they are Scammers. But in real they are!

Edit:

All this info is public so does not count as doxxing or a witch hunt. This is merely connecting the dots of Labcoin. So one of the founders of Labcoin is 'Fabrizio Tatti' owner of iTec-Pro.
People discovered his sister Alessia under her skype account Delaria, chatting about beginning the Labcoin project: http://pastebin.com/1Rq8r4UW
Confirming Labcoin = Delaria : https://bitcointalk.org/index.php?action=profile;u=120219
Searches of Alessia(Delaria) point to a prior scam involvement with Alberto Armandi. They are husband and wife.
http://www.ripoffreport.com/r/ENSO-Co/internet/ENSO-Co-Alberto-Armandi-Alessia-Tatti-Promoting-ZenPad-like-the-IPAd-and-will-take-you-590629 owner of the vaporware scam company Enso:
http://www.engadget.com/2010/04/09/ensos-zenpad-is-vaporware-get-refunds-while-they-last/
Alberto is also a notorious scammer in the bitcoin community:
http://codinginmysleep.com/lessons-learned-from-the-bdt-fiasco/
Upon searching Fabrizio Tatti's friends list on Facebook, we see a direct match, he is affiliated with both scammers: https://i.imgur.com/pWl3uCS.png
Labcoin overview listing main players: https://i.imgur.com/nE7pVnT.png
Noi, Wang and Sparmann downplay their affiliation with Labcoin, or are unreachable.
Fabrizio plays dumb: https://i.imgur.com/TolLKn6.png
Alberto and Alessia I believe are playing under the Labcoin account. Compare Labcoin's responses to Alberto response's during his bdt scam: http://imgur.com/SJ47B8d
There is also evidence that TheSwede, the PR spokesman, took a 950 bitcoin payment to front the scam. http://imgur.com/rbnK68T
At the time Labcoin went live, TheSwede was on the forums trying to buy cars and Rolexes. http://imgur.com/bCNv8Bk
TLDR: The Labcoin scam has stolen 7000 bitcoins from the community + countless others who bought through day-trading.

The bitter truth..

[BitThink]

So the question right now: what is Alberto's connection to Labcoin, to what degree is he involved and what are the implications?

Alberto Armandi (Mad Scientist, Hacker, Creative, CEO Enso Limited)

https://twitter.com/albertoarmandi

is brother-in-law of Fabrizzio Tatti (Labcoin project founder)

http://s15.postimg.org/n3qs65923/Untitled.png

Do you mean this pic? To me it is too blur to see anything. How can it to be a proof?

[BitThink]

Look at this scam:

https://www.odesk.com/o/jobs/job/_~~0004f9d9a9eea142/

The Location was posted as Italy, so for Tatti to claim he has no knowledge of Labcoin, is complete BS, this thing was posted Aug 2012.

Fishy Fishy like everything Labcoin related

Sam was supposed to be in China. Why would he be named 'Sam' anyway, it is a western name.

And the Labcoin handle really does type in more of a European way... we have plenty of Chinese posters here and they all have a distinctly different way of typing.

I really think that Sam = Alberto/Alessia

meanwhile labcoin is on the top 20 fastest miners and top 10 teams on btcguild.

https://www.btcguild.com//index.php?page=rankings&section=teams

We're raising additional funds for the project at a soddisfacent rate and the team is already onto some very good results.

not many chinaman will slip into italian tongue 

Wow great find.

This pretty much proves Sam Noi is not Chinese, he is Alberto using an italian to english translator. 

No one think Samul Noi is a Chinese here.

[eiprol]

I went out at 0.0004, losing around 10btc. I dont understand how people believe this can rise again; the same way I dont get why the stock is still at 0.00025. It should be 0: they are not even trying to convince us about the truth, the are just letting the time pass.

For my, It's over, and we all have been on a perpetual denial when they have avoided to answer real questions.
If they prove in the future that we all were wrong, good for you, but its almost impossible.

[Puppet]

Digging a bit further in to Alberto's past, some clear patterns emerge. For instance, he always tries to hide behind someone reputable. He has been hiding behind Deadterra for bitcoinrebate (whatever happened to that ? http://www.reddit.com/r/Bitcoin/comments/v50jc/bitcoinrebatecom_vaporised/ ), behind Meni Rosenfeld for bitcoindaytrade, this time apparently he couldnt get anyone more reputable than the swede anymore for labcoin Maybe thats why he invoked his brother in law's profile

[TsuyokuNaritai]

meanwhile labcoin is on the top 20 fastest miners and top 10 teams on btcguild.

https://www.btcguild.com//index.php?page=rankings&section=teams

We're raising additional funds for the project at a soddisfacent rate and the team is already onto some very good results.

not many chinaman will slip into italian tongue 

Wow great find.

This pretty much proves Sam Noi is not Chinese, he is Alberto using an italian to english translator. 

It's not a new find...

meanwhile labcoin is on the top 20 fastest miners and top 10 teams on btcguild.

https://www.btcguild.com//index.php?page=rankings&section=teams

We're raising additional funds for the project at a soddisfacent rate and the team is already onto some very good results.

I don't think I've ever seen the word "soddisfacent" before.  Is that english?  I see that there is an Italian word that is similar which means "satisfactory".  Does that mean you are not looking for investors?

Admittedly yes, the word "soddisfacent" doesn't exist in English language. Satisfactory is the right word.thanks for the head up.
We are not selling pre-orders, but talks with investors are open, just pm us.

Cheers

EDIT: spelling

...and while it is suspicious, lots of people who learn other languages learn more than one.

[matt4054]

I went out at 0.0004, losing around 10btc. I dont understand how people believe this can rise again; the same way I dont get why the stock is still at 0.00025. It should be 0: they are not even trying to convince us about the truth, the are just letting the time pass.

For my, It's over, and we all have been on a perpetual denial when they have avoided to answer real questions.
If they prove in the future that we all were wrong, good for you, but its almost impossible.

It's only 32 BTC away from 0.00022, just saying...