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

[VolanicEruptor]

labcoin will probably not be listed on bitfunder.  There is no way Ukyo would be crazy enough to approve labcoin if it's looking like this..

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[moribana]

People are selling in anticipation of Labcoin gone missing in the Q&A

People are NOT selling. Actually more buying on ask than selling on bid.

You're not looking at the quantities. Sell > buy.

Yes, you are right. And it seems that people who want to sell are buying small amounts to keep up a demand. If they have more accounts they can even buy bigger amounts and lose only the fee.

[BombaUcigasa]

Mabsark's logic:

Look at this picture though. Notice how some of the chips are missing?



The obvious reason for those chips being missing is because they are being mined with.

It's funny the way none of the FUD-spreaders can come up with a logical argument against this.

Yeah, what was I thinking? It's clearly ridiculous to suggest that the obvious reason for chips being missing is because they had been used for their intended purpose. They surely just threw those chips away for no reason.

/sarcasm (for all the mentally challenged people in this thread)

You still think those trays are delivered always completely occupied with chips, don't you?

I've no idea. I think it more likely that the trays would be full though.

That would seem to be intuitive, right?

But do you actually know how often the trays are filled? For example Intel ships in batches of 1000 units. Here are some trays they use:
http://origin.arstechnica.com/articles/paedia/via-isaiah.media/C7Tray.jpg
http://image.made-in-china.com/2f0j00KMhanCUqCBrG/Intel-Core-I7-930-CPU-for-Desktop-Only-Tray.jpg
http://www.shinly.com.tw/images/products/CPU%20tray/ESD%20protective%20electronics%20packaging.jpg
http://www.os-trade.com/album/other/cpu_Tray_37.5mm%20(1)_nEO_IMG.jpg
http://egoistmedia.ro/wp-content/uploads/2012/12/AMD_CPU_INTEL_CPU_Mobile_CPU_Tray.jpg (AMD maybe)

Also here is an ASIC tray: https://i.imgur.com/b3UbwTU.jpg

How many chips do you get in a batch? Around how many you ordered, but the factory might send you more or less, depending on how many they made and how many are good. The chances that the trays are completely full are 1 in slots_available_on_tray. Which for the trays pictured by Labcoin, the chance the trays are full would be 0.25%

And seriously, there is also the retarded answer: they just took some chips out of the tray. It's not complicated, you pick them with two fingers and put them aside. It's not a feat of engineering to remove some chips from a tray, you don't need a university degree to do it. It doesn't tell you that the chips are burning energy and delivering hashes if they're missing from a tray, they're just missing from a tray. If I were labcoin, I would pick a full tray. The boards are unpopulated, it would make sense to have the chips in their storage support, right?

How do you base your whole discourse on "where could the chips be if not hashing, since they are missing"? This is just one minuscule possibility, given the evidence we have suggests it is very unlikely. Where are the chips if they are not hashing? Clearly, they must be in the garbage bin, there is no other place they would be now if they are not hashing!

[abuelau]

labcoin will probably not be listed on bitfunder.  There is no way Ukyo would be crazy enough to approve labcoin if it's looking like this..

If Labcoin provides documentation and explanations to Ukyo, explains what is going on, sends him pictures of the rigs, their passport, addresses, a Skype video conference... it could be listed.

Now the odds of them providing all this....

[velacreations]

labcoin will probably not be listed on bitfunder.  There is no way Ukyo would be crazy enough to approve labcoin if it's looking like this..

If Labcoin provides documentation and explanations to Ukyo, explains what is going on, sends him pictures of the rigs, their passport, addresses, a Skype video conference... it could be listed.

Now the odds of them providing all this....

forget about it being listed on Bitfunder.  Not gonna happen.

[b!z]

What exchange do they want to list it on then?

[crumbs]

I think the latest developments are actually great news.  Now there's no need for messy & time-consuming transfers to a new exchange, and the Labcoin team can concentrate on doing what it does best.

[KS]

People are selling in anticipation of Labcoin gone missing in the Q&A

People are NOT selling. Actually more buying on ask than selling on bid.

You're not looking at the quantities. Sell > buy.

Yes, you are right. And it seems that people who want to sell are buying small amounts to keep up a demand. If they have more accounts they can even buy bigger amounts and lose only the fee.

The bid side is also pretty thin. Less and less open bids.

29 BTC to ATL.

[pedrog]

Server and channel, please?

[ssshhh]

I think the latest developments are actually great news.  Now there's no need for messy & time-consuming transfers to a new exchange, and the Labcoin team can concentrate on doing what it does best.

which is?

[crumbs]

I think the latest developments are actually great news.  Now there's no need for messy & time-consuming transfers to a new exchange, and the Labcoin team can concentrate on doing what it does best.

which is?

Good question, though more appropriate for those not already invested.

[velacreations]

I love how Mabsark is still defending them.  Add that to the list of people that deserve to be bagholders:
Mabsark
dhenson
JohnyBigs

These people should be on ignore, folks.  They were defending these scammers right until a few days ago. They encouraged people to invest, all the way down...

[drawingthesun]

I love how Mabsark is still defending them.  Add that to the list of people that deserve to be bagholders:
Mabsark
dhenson
JohnyBigs

These people should be on ignore, folks.  They were defending these scammers right until a few days ago. They encouraged people to invest, all the way down...

And dhenson recommended people to put me on their ignore list because I was a FUDster.

Guess what? I was right.

[SvanteH]

I love how Mabsark is still defending them.  Add that to the list of people that deserve to be bagholders:
Mabsark
dhenson
JohnyBigs

These people should be on ignore, folks.  They were defending these scammers right until a few days ago. They encouraged people to invest, all the way down...

Why even bother posting in this thread if you sold off your shares and think LC is a waste of money? Everyone is entitled to an opinion but clearly this thread went from actual discussion to monkeys throwing shit at each other.

[velacreations]

I love how Mabsark is still defending them.  Add that to the list of people that deserve to be bagholders:
Mabsark
dhenson
JohnyBigs

These people should be on ignore, folks.  They were defending these scammers right until a few days ago. They encouraged people to invest, all the way down...

And dhenson recommended people to put me on their ignore list because I was a FUDster.

Guess what? I was right.

same here

and he was encouraging people to ignore the voices of reason and invest in this thing as it was falling.

[Mabsark]

If Labcoin relists on BitFunder, the price will just as quickly rise again.

I doubt people will fall for this same scam again.  Will you be reinvesting, Mabsark?  And at what price did you liquidate your Labcon shares?

Of course, that is assuming Bitfunder will list them...

I've been buying and selling at various prices once it came to light they were having trouble with the miners. I sent some BTC to BitFunder which more than covered my costs.

Also, like I said, I have 10,000 shares (up from 6789 shares), so for me, the chance of Labcoin actually sorting their shit out and being successful in achieving their their goals is a risk worth taking. I'll keep trading and hope to significantly increase the number of shares I hold.

If Labcoin is a failure, I make a little profit, if Labcoin is a success, I make a lot of profit.

[drawingthesun]

Why even bother posting in this thread if you sold off your shares and think LC is a waste of money? Everyone is entitled to an opinion but clearly this thread went from actual discussion to monkeys throwing shit at each other.

I'm not velacreations but I post here sometimes.

I post because I have held Labcoin shares for a long time and wanted to be apart of a startup bitcoin mining company. I check this thread to see if any developments lead to a more positive view of things but until then people need to warned about dhenson, johnybigs and mabsark.

[KS]

For the record, I never bought any LC even for a quick flip, because I think it's unethical.

What do you think is unethical? Buying LC or flipping shares (any shares)?

[dwdoc]

New deposit:

 2013-09-29 14:17:16
   17psAW21J4twanAFWmbcd5WdX2pKeX3trm 0.30237405 BTC

https://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trm

Dividend coming? 

[drawingthesun]

What do you think is unethical? Buying LC or flipping shares (any shares)?

Buying into scams.

Whilst it is looking more and more like a scam, beware of pankkake. He thinks Active mining is a scam even though its just a poorly timed and poorly run company.