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

[Puppet]

people need to warned about dhenson, johnybigs and mabsark.

^^^ this

If people are stupid enough to make non trivial investments based on trolls posting rather than doing some due diligence, digging and doxing,  its their problem and no amount of warning is going to prevent them from losing their money on this or the next scam. Seriously, unregistered company represented by anonymous poster with dubious reputation and casino links in his signature doing PR? The person collecting the money has no public identity, profile or anything? Should be enough reason for anyone sane to think twice, even if they had a credible story, which they had not.

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[velacreations]

The money is most likely coming from other people doing the same thing.

or from the newbies you sucker into buying your shares...

remember this:

Anyone with an attention span greater than a gold fish knows what he's talking about. 50 Th/s coming online in October. Why does that worry you?

or this:

They've stated that they plan on bringing 500 Th/s online by the end of the year. That is a valid possibility. If they did and they controlled 5% of the network, then the network hash rate would be 10 Ph/s. I think it's more likely that Labcoin will have 500 Th/s online than the network will be at 10 Ph/s by the end of the year. If the network was at 5 Ph/s then LC would need 250 Th/s.

those quotes were not very long ago...

[AngelSky]

The money is most likely coming from other people doing the same thing.

or from the newbies you sucker into buying your shares...

remember this:

Anyone with an attention span greater than a gold fish knows what he's talking about. 50 Th/s coming online in October. Why does that worry you?

or this:

They've stated that they plan on bringing 500 Th/s online by the end of the year. That is a valid possibility. If they did and they controlled 5% of the network, then the network hash rate would be 10 Ph/s. I think it's more likely that Labcoin will have 500 Th/s online than the network will be at 10 Ph/s by the end of the year. If the network was at 5 Ph/s then LC would need 250 Th/s.

those quotes were not very long ago...

He is busy buying @ 0.0003   (let's hope we'll see another 0 before the end of btct)

[Bargraphics]

How does someone "scam" someone else into buying shares?

I'm very interested in this upside down australian logic.

In your case, I heard that you pepper reddit  and bitcointalk with overly optimistic Active Mining posts. At best we will get our ROI out of this and unfortunately I don't think Active will become the next ASICMINER. Overly pumping a stock by working the forums is scam behaviour isn't it? Especially if you decided to dump on the new buyers.

You have been mistaken, I was a very vocal supporter when it first came out (Times change quickly in bitcoin land) and I don't even have an account on reddit you fool.

I haven't sold ActM since the eASIC announcement, another speculation you are dead wrong about.

At best you are seeking out someone to blame for your share price going down. Pankakke pointed you in the correct direction to look towards.

Stop being so bitter and at the very least please backup your schoolgirl gossip with facts.

[velacreations]

If people are stupid enough to make non trivial investments based on trolls posting rather than doing some due diligence, digging and doxing,  its their problem and no amount of warning is going to prevent them from losing their money on this or the next scam. Seriously, unregistered company represented by anonymous poster with dubious reputation and casino links in his signature doing PR? The person collecting the money has no public identity, profile or anything? Should be enough reason for anyone sane to think twice, even if they had a credible story, which they had not.

while I agree that people should research their investments, the problem is that new people have no way of telling who is a troll and who is not.  Mabsark's argument seems very logical, and if you go through his post history, you see a lot of math that checks out and looks very legitimate.  At closer inspection, he makes a lot of assumptions and misleads people, but someone who is not familiar with the security would not know that.

So, I think it is reasonable to warn against the FanBoy/Pumpers/Trolls.

Advice from a random person on a thread on the internet is certainly no substitute for critical thinking.

[drawingthesun]

You have been mistaken, I was a very vocal supporter when it first came out (Times change quickly in bitcoin land) and I don't even have an account on reddit you fool.

I haven't sold ActM since the eASIC announcement, another speculation you are dead wrong about.

At best you are seeking out someone to blame for your share price going down. Pankakke pointed you in the correct direction to look towards.

Stop being so bitter and at the very least please backup your schoolgirl gossip with facts.

I don't think I am being bitter, I just don't want the Active Mining discussions to become a bunch of posts about "to the moon!!" and such.

But if you really hold Active Mining and care about its future, I will stop replying to your posts in the ActM thread. I don't understand why you are coming across as a pumper if you have no plans to dump...

Also please link the thread that pankakke replied to me about, I can't find it.

[Mabsark]

There's no proof of it being a scam so far, no matter what you guys keep claiming.

substantial evidence has been presented. 

You know what evidence is missing, here?  Evidence to suggest they are NOT a scam.  You keep saying they are legit, where's your evidence, Mabsark?

I don't keep saying they are legit. I'm saying I've already made a profit from Labcoin and am willing to take the risk that they are legit and hold as many shares as I can acquire from trading.

When push comes to shove, all you do is provide FUD instead of evidence to back up your claims.

that's funny, cause I was using your own math to show they were overvalued.  Guess what?  the share price is approaching the fair value I posted.

So?

[AngelSky]

Souvenir souvenir...  

Offering advice is admittedly pointless in this thread but if you are willing to listen...

I know it's going to be difficult, but stop reading this thread.  Seriously, just stop.  You have made a (in my opinion 'good') decision to invest in this company.  Simply wait it out and ignore everything these guys are posting.  In a month I'll either be wrong or right, but I'm betting pretty heavily that I'm right.

If you just can't stay away, at least ignore the following people.  They are for the most part blatantly attempting to manipulate shareholders into selling.  There might be one or two honest posters in the list that I was a bit rash in clicking the 'ignore' button. But I can honestly say not having to read their FUD has made this thread much more bearable.

Anotheranonlol
iCEBREAKER
kokojie
pankkake
velacreations
drawingthesun
wickedgoodtrader
physalis
aquarius
Vigil
camu6
TMAN
limbaugh
well.attenuated
AngelSky
eve
crumbs
TECHICENINE
Stuartuk
zumzero
Zakryze

[BitThink]

It's sad to see people here just attack each other instead of united to fight against the one took our money. Do you really have fun in the meaningless fighting?

[aquarius]

Souvenir souvenir...  

Offering advice is admittedly pointless in this thread but if you are willing to listen...

I know it's going to be difficult, but stop reading this thread.  Seriously, just stop.  You have made a (in my opinion 'good') decision to invest in this company.  Simply wait it out and ignore everything these guys are posting.  In a month I'll either be wrong or right, but I'm betting pretty heavily that I'm right.

If you just can't stay away, at least ignore the following people.  They are for the most part blatantly attempting to manipulate shareholders into selling.  There might be one or two honest posters in the list that I was a bit rash in clicking the 'ignore' button. But I can honestly say not having to read their FUD has made this thread much more bearable.

Anotheranonlol
iCEBREAKER
kokojie
pankkake
velacreations
drawingthesun
wickedgoodtrader
physalis
aquarius
Vigil
camu6
TMAN
limbaugh
well.attenuated
AngelSky
eve
crumbs
TECHICENINE
Stuartuk
zumzero
Zakryze

 

[AngelSky]

It's sad to see people here just attack each other instead of united to fight against the one took our money. Do you really have fun in the meaningless fighting?

Money is gone, don't you understand?

[SebastianJu]

Yeah.  At the same time, though I think LC could use a board to oversee what's going on. And also offer assistance and in terms of how to manage things.

One of the reasons why the share price is in so much trouble is the rising difficulty.  If this was a year ago, it wouldn't be much of a problem if they got delayed by a month or so.  ASICMiner had issues as well.  B1 Avalons were delayed a month or two, but their owners are still pretty happy. 

The problem now is that with KnC, Cointerra, and the like there's not much room for error, before bitcoin mining becomes unprofitable.

The difficulty is not such a big problem here because this is not a normal mining security. This is a security that owns an asic design. That means they can create miner at cost. Thats fundamentally different to securities that have to buy miner for nearly enduser prices. Those last securities arent much better than when you buy hardware yourself. And you know it wont be a big success. But securities like labcoin can create the miners at cost and on top they will grow the mine. So the difficulty isnt a big problem.
I admit... i invested in 2 other normal mining projects, that dont own their own design, in the hope that the previous patterns of other mining securities are repeated. They went up and then slowly dropped. But since all the panic is going on in all mining securities now this wont work anymore. My bad. But companies like labcoin, that own their own asic design, are different.

Regarding the scam claims... they didnt run with the money because they wanted to earn more later? How that? I mean they still have 2million shares. Where is the sense when this would be planned as a scam? It would have been so easy to fake a miner. I could do this myself. Then when the shareprice is rising sell the 2 million shares. Easy as pie. Instead they post unfortunate news and know that it makes the price drop. So they are bagholding scammers? Really?

If this is a scam then its a scam done exceptionally bad.

[drawingthesun]

bold emphasis mine.

They are for the most part blatantly attempting to manipulate shareholders into selling.  There might be one or two honest posters in the list that I was a bit rash in clicking the 'ignore' button. But I can honestly say not having to read their FUD has made this thread much more bearable.

Anotheranonlol
iCEBREAKER
kokojie
pankkake
velacreations
drawingthesun
wickedgoodtrader
physalis
aquarius
Vigil
camu6
TMAN
limbaugh
well.attenuated
AngelSky
eve
crumbs
TECHICENINE
Stuartuk
zumzero
Zakryze

Yes I was manipulating people into selling around 0.003 and 0.002

I do not feel bad about this.

[Mabsark]

The money is most likely coming from other people doing the same thing.

or from the newbies you sucker into buying your shares...

remember this:

Anyone with an attention span greater than a gold fish knows what he's talking about. 50 Th/s coming online in October. Why does that worry you?

or this:

They've stated that they plan on bringing 500 Th/s online by the end of the year. That is a valid possibility. If they did and they controlled 5% of the network, then the network hash rate would be 10 Ph/s. I think it's more likely that Labcoin will have 500 Th/s online than the network will be at 10 Ph/s by the end of the year. If the network was at 5 Ph/s then LC would need 250 Th/s.

those quotes were not very long ago...

Err...so what? 

[ishkur]

Yeah.  At the same time, though I think LC could use a board to oversee what's going on. And also offer assistance and in terms of how to manage things.

One of the reasons why the share price is in so much trouble is the rising difficulty.  If this was a year ago, it wouldn't be much of a problem if they got delayed by a month or so.  ASICMiner had issues as well.  B1 Avalons were delayed a month or two, but their owners are still pretty happy. 

The problem now is that with KnC, Cointerra, and the like there's not much room for error, before bitcoin mining becomes unprofitable.

The difficulty is not such a big problem here because this is not a normal mining security. This is a security that owns an asic design. That means they can create miner at cost. Thats fundamentally different to securities that have to buy miner for nearly enduser prices. Those last securities arent much better than when you buy hardware yourself. And you know it wont be a big success. But securities like labcoin can create the miners at cost and on top they will grow the mine. So the difficulty isnt a big problem.
I admit... i invested in 2 other normal mining projects, that dont own their own design, in the hope that the previous patterns of other mining securities are repeated. They went up and then slowly dropped. But since all the panic is going on in all mining securities now this wont work anymore. My bad. But companies like labcoin, that own their own asic design, are different.

Regarding the scam claims... they didnt run with the money because they wanted to earn more later? How that? I mean they still have 2million shares. Where is the sense when this would be planned as a scam? It would have been so easy to fake a miner. I could do this myself. Then when the shareprice is rising sell the 2 million shares. Easy as pie. Instead they post unfortunate news and know that it makes the price drop. So they are bagholding scammers? Really?

If this is a scam then its a scam done exceptionally bad.

You make valid points.

I actually jumped back in earlier this morning with a small position.

[AngelSky]

Yes I was manipulating people into selling around 0.003 and 0.002

I do not feel bad about this.

That was a good price indeed Now we are.... @ 0.003

 

[velacreations]

The money is most likely coming from other people doing the same thing.

or from the newbies you sucker into buying your shares...

remember this:

Anyone with an attention span greater than a gold fish knows what he's talking about. 50 Th/s coming online in October. Why does that worry you?

or this:

They've stated that they plan on bringing 500 Th/s online by the end of the year. That is a valid possibility. If they did and they controlled 5% of the network, then the network hash rate would be 10 Ph/s. I think it's more likely that Labcoin will have 500 Th/s online than the network will be at 10 Ph/s by the end of the year. If the network was at 5 Ph/s then LC would need 250 Th/s.

those quotes were not very long ago...

Err...so what?  

pump, pump, pump it up

(so you can exit)

[Mabsark]

Yeah.  At the same time, though I think LC could use a board to oversee what's going on. And also offer assistance and in terms of how to manage things.

One of the reasons why the share price is in so much trouble is the rising difficulty.  If this was a year ago, it wouldn't be much of a problem if they got delayed by a month or so.  ASICMiner had issues as well.  B1 Avalons were delayed a month or two, but their owners are still pretty happy. 

The problem now is that with KnC, Cointerra, and the like there's not much room for error, before bitcoin mining becomes unprofitable.

The difficulty is not such a big problem here because this is not a normal mining security. This is a security that owns an asic design. That means they can create miner at cost. Thats fundamentally different to securities that have to buy miner for nearly enduser prices. Those last securities arent much better than when you buy hardware yourself. And you know it wont be a big success. But securities like labcoin can create the miners at cost and on top they will grow the mine. So the difficulty isnt a big problem.
I admit... i invested in 2 other normal mining projects, that dont own their own design, in the hope that the previous patterns of other mining securities are repeated. They went up and then slowly dropped. But since all the panic is going on in all mining securities now this wont work anymore. My bad. But companies like labcoin, that own their own asic design, are different.

Regarding the scam claims... they didnt run with the money because they wanted to earn more later? How that? I mean they still have 2million shares. Where is the sense when this would be planned as a scam? It would have been so easy to fake a miner. I could do this myself. Then when the shareprice is rising sell the 2 million shares. Easy as pie. Instead they post unfortunate news and know that it makes the price drop. So they are bagholding scammers? Really?

If this is a scam then its a scam done exceptionally bad.

I guess it could be a scam and they just fucked up in typical Labcoin fashion.  

[drawingthesun]

You mean some of the pumpers like Bar are scamming people into buying shares? Thats not Kens fault is it?

Also you haven't proved anything with a bitbet. Most people aren't interested in playing your games and I still think the profit will come, just later than your proposition.

To think a bet has proven something... Thats almost like a scam right?

There's a big misunderstanding here.
I think investors - except a few with good timings - aren't going to make back what they paid at the IPO.
This was sold as "this is the next AsicMiner" with many tries to confuse investors.

Bargraphics is the one getting scammed. If you want to look at scammers besides Ken, look at the old advisory board.

The BitBet is there to prove it's what I truly believe in, because I will lose money if I am wrong. Nothing else. If you truly believe I am wrong, you can bet Yes and almost triple your money.

Sad to say I wasn't around for the ActM IPO. I bought in after looking over the eASIC stuff and decided to go in...

The only thing that makes this worth holding is eASIC.

[AngelSky]

The difficulty is not such a big problem here because this is not a normal mining security. This is a security that owns an asic design. That means they can create miner at cost.

Except that you need a working miner before the end of the year 2015.