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

[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?

Money is gone, don't you understand?

Of course I understand. I sold almost all my shares already, so I am not expecting any money back. I am just sick of people fighting with each other at this moment, which will have its position in the history of bitcoin stocks. People here could do better. Do you know the Fenix on BitFund? The shareholders united to get something back from the scammer and build a new asset from the ashes.

[AngelSky]

Of course I understand. I sold almost all my shares already, so I am not expecting any money back. I am just sick of people fighting with each other at this moment, which will have its position in the history of bitcoin stocks. People here could do better. Do you know the Fenix on BitFund? The shareholders united to get something back from the scammer and build a new asset from the ashes.

That would be a constructive idea, but I don't think we're going to see this here. A family picture with JohnnyBigs, TheSwede, dhenson, ... altogether to build a new asset from what will be left behind by labcoin? Hmm, let me think...   

[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? 

pump, pump, pump it up

I was clearly stating facts.

Labcoin announced they planned to bring 50 TH/s online in October. They've also stated that they plan to bring 500 Th/s online this year. I also stated what the network hash rate would be if Labcoin controlled 5% of the network with 500 Th/s.

All facts.

[velacreations]

I was clearly stating facts.

Labcoin announced they planned to bring 50 TH/s online in October. They've also stated that they plan to bring 500 Th/s online this year. I also stated what the network hash rate would be if Labcoin controlled 5% of the network with 500 Th/s.

All facts.

no, you were pushing those unlikely promises to get people to buy your shares.  you were defending known liars for personal profit.

Pump and Dump

FACT: there is no evidence to suggest that this operation is legit.

[Mabsark]

I was clearly stating facts.

Labcoin announced they planned to bring 50 TH/s online in October. They've also stated that they plan to bring 500 Th/s online this year. I also stated what the network hash rate would be if Labcoin controlled 5% of the network with 500 Th/s.

All facts.

no, you were pushing those unlikely promises to get people to buy your shares.  you were defending known liars for personal profit.

Pump and Dump

FACT: there is no evidence to suggest that this operation is legit.

Defending liars for personal profit by saying, "That is a valid possibility."  LOL! 

[ronaldlee0917]

10 more hours until the long awaited Q&A session

[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.

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

I got that thought too... but then i think... every kid could have made such a scam a success.

The difference to scams like pirateat40 is that pirate was still earn more than he paid out all the time. When this started to change he stopped paying out. With such a security that wouldnt make much sense. The IPO-Money would be what counts. Everything above that would be to pump the shareprice high so one could sell the shares the security issuer owns. It looks like that didnt happen. And they did exceptionally bad to push the shareprice. I mean they knew exactly when they will post bad news. They posted it and still have their shares. It would be the best time to sell them before. Or even fake a miner hardware and fake a cgminer screen output. Easily doable. Instead they post more and more bad news while bagholding their own shares. That means they either believe in the divs of the project or, if still seeing a scam, they want cheap shares. But even then... they could post news looking way worse. Or not speaking at all. Then the shareprice would be even way lower. They could buy shares with a sockpuppet account since they know it will succeed.
So either way i look at it... it doesnt make much sense as a scam.

[onecent]

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.  

I got that thought too... but then i think... every kid could have made such a scam a success.

The difference to scams like pirateat40 is that pirate was still earn more than he paid out all the time. When this started to change he stopped paying out. With such a security that wouldnt make much sense. The IPO-Money would be what counts. Everything above that would be to pump the shareprice high so one could sell the shares the security issuer owns. It looks like that didnt happen. And they did exceptionally bad to push the shareprice. I mean they knew exactly when they will post bad news. They posted it and still have their shares. It would be the best time to sell them before. Or even fake a miner hardware and fake a cgminer screen output. Easily doable. Instead they post more and more bad news while bagholding their own shares. That means they either believe in the divs of the project or, if still seeing a scam, they want cheap shares. But even then... they could post news looking way worse. Or not speaking at all. Then the shareprice would be even way lower. They could buy shares with a sockpuppet account since they know it will succeed.
So either way i look at it... it doesnt make much sense as a scam.

 when you have eliminated the impossible, whatever remains, however improbable, must be the truth

[crumbs]

So many posters saying "I can't see how this could be a scam, so not a scam."
If you *could* see this as a scam, it wouldn't be much of a scam.
Your inability to see Labcoin as a scam is exactly what allows the scam to work.

The Moar U kno

[velacreations]

Defending liars for personal profit by saying, "That is a valid possibility."  LOL! 

by calling everyone a liar for calling Labcon out for their bullshit.
by saying there is no evidence of scam, when there is.
by defending them over and over
by preaching the "possibility of riches!"

and finally, by pumping the share price and SELLING OUT, while still telling people to hold/buy.

[velacreations]

So many posters saying "I can't see how this could be a scam, so not a scam."
If you *could* see this as a scam, it wouldn't be much of a scam.
Your inability to see Labcoin as a scam is exactly what allows the scam to work.

The Moar U kno

+1
this is actually it.  Confidence schemes work by gaining your confidence and tricking you into believing.  They don't work by looking like obvious scams.

You know what every successful scam has in common?  People defending it until the very end saying "it can't be a scam, because..."

[zumzero]

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

WHAT THE FUCK AM I DOING ON THAT LIST?  TAKE MY NAME OFF NOW OR I'LL SUE YOUR SORRY ASS!   NOW, GOD DAMN YOU!!!!!!!

[ssshhh]

So many posters saying "I can't see how this could be a scam, so not a scam."
If you *could* see this as a scam, it wouldn't be much of a scam.
Your inability to see Labcoin as a scam is exactly what allows the scam to work.

The Moar U kno

+1

[MikeyVeez]

Love those high volume buys at .002s just means as soon as it drops, massive dumps will come again.

[Mabsark]

Defending liars for personal profit by saying, "That is a valid possibility."  LOL! 

by calling everyone a liar for calling Labcon out for their bullshit.
by saying there is no evidence of scam, when there is.
by defending them over and over
by preaching the "possibility of riches!"

and finally, by pumping the share price and SELLING OUT, while still telling people to hold/buy.

There isn't any evidence proving Labcoin is a scam and if I've called someone a liar then it's because they were telling lies. Also, where am I telling people to buy/hold and where am I pumping the share price? I just stated that I think the share price will drop as low as 0.00005 BTC on BTC-TC. I'm pretty sure that's lower than what it's currently at. I'm willing to take the risk that Labcoin are legit and will sort their problems out. If others aren't, then perhaps they should sell. It's their decision though, not mine. I couldn't care less what they do.

Like I said, I've already made my money back and I'm willing to gamble on them.

[itsgoldbaby]

Link to the IRC channel anyone? Haven't used IRC in a while.  

[zumzero]

Is the countdown timer above the real deal?

[KS]

Is the countdown timer above the real deal?

no

[velacreations]

There isn't any evidence proving Labcoin is a scam and if I've called someone a liar then it's because they were telling lies.

you are the one lying right now!  There is evidence that it is a scam, in fact, their post history is enough evidence for that. You called people liars when Labcon themselves had lied (remember the 2 TH/s on Sep 10?).

Your "defense" for them lying was that they were behind schedule.  ha! 

What lacks is evidence that they are legit, even though you continue to push that they are not a scam.

[dwdoc]

Labcoin just signed in.
 12:20am in Hong Kong