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

[KS]

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.

I like to think you're correct.  

I wouldn't know if they are a scam or not, but one thing I can remember when Labcoin (Samual Noi) first created the original Labcoin thread and presented this project he was involved in... and he wasn't looking at IPOing the project but he was looking for private investors, or angel investors - I can't remember the exact words.  But what I can remember was that forum members here suggested it would be better to IPO as there was huge amount of interest in the project.  Can anyone else remember this in the beginning..?

Also my impression at the time, was they didn't seem like professionals, especially at IPO's... that's where theSwede comes to the rescue...  REMEMBER.

So, what I'm getting at, is that this wasn't a scam intentionally, but this was a creation that evolved from this forum and everyone in it including myself.
I think that Samual Noi maybe genuine would like this to work out, but unfortunately he don't have a clue and is in over his head.

You also have to look at the fact that they really f*cked their investors (pardon my french). They might be in over their head on the hardware side, but the no-show here is just criminal.

I don't disagree... And ok this is only speculation, but...
I'm starting to think that this Samual Noi is a one man band... gave it a try and failed big time.  This company Labcoin had started way before coming to this forum and original investors (Engineer's) separated, left, sold out, or something like that for what ever reason/s unknown at this point.  Who knows, maybe the engineer suspected there was going to be problems and left.  Then Samual Noi was left to find new investor to try and save the company Labcoin.

Only if he just came out and just spilled the beans...  TELL US THE TRUTH SAMUAL NOI... and would be a good idea to start from the beginning.

I think you're making excuses so as to not have to face the ugly truth. It's all plausible, mind you, but that would mean he's even more stupid than I think. Engineers are a dime a dozen on this forum. Bitfury had some issues with his chips/PCBs that the forum members either solved or at least helped improve a lot. Basically for free.

From what I gather, SHA256 asics are really simple designs and are basically self-testing. It could be a PCB issue rather than an asics one. (don't flame, I know I don't have enough working knowledge on the subject)

But we don't know whether they actually have any working original IP.

[JohnyBigs]

Official Labcoin's Office:

Love the sink inf ront of the chair lmao

[bitrich]

the address that they are mining to has had some rather large deposits today. Check it out, maybe this is good news?

[JohnyBigs]

the address that they are mining to has had some rather large deposits today. Check it out, maybe this is good news?

No it's not they will not increase hashrate until after October 15th, if that, when they get their boards and chips back from 3rd party.

[JohnyBigs]

Can somebody come on here and confirm that you are buying at these prices so we can point fingers and laugh at you for being complete morons?

[pedrog]

the address that they are mining to has had some rather large deposits today. Check it out, maybe this is good news?

The last of those payments can be traced to here: https://blockchain.info/pt/address/14cZMQk89mRYQkDEj8Rn25AnGoBi5H6uer

[JohnyBigs]

the address that they are mining to has had some rather large deposits today. Check it out, maybe this is good news?

The last of those payments can be traced to here: https://blockchain.info/pt/address/14cZMQk89mRYQkDEj8Rn25AnGoBi5H6uer

Is that Italian? Seems Like Alessia Tatti, is pumping deposits into the account, with fake scam payments.

It's portuquese, so someone is pumping bullshit payments into their account.

[bitrich]

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.

Thats the reason Im not selling, it doesnt make sens that this is a scam at all. I dont have very much into it but at this point I might as well wait it out, not really too concerned with selling just to get .5 btc back, its not that big of a deal lol. Ill wait it out and see what happens at any rate this is interesting to watch  

[TMAN]

Can somebody come on here and confirm that you are buying at these prices so we can point fingers and laugh at you for being complete morons?

Just bought again, im averaging my cost down. The risk hasn't increased in the last week, if anything it has got better as they have outsourced the issues they are having.

Please note I can afford to lose my investment & am well aware of the risk. I may end up with egg all over my face, balls, dick & feet... but I may be right & the upside is huge to me compared to losing a few K.

this isnt for everyone - I am not encouraging people to buy, but the risk reward works for me personally. Plus I will so enjoy cashing out my Divs one month & sending you a picture of me rubbing £50 notes on my titties...

[bitrich]

the address that they are mining to has had some rather large deposits today. Check it out, maybe this is good news?

The last of those payments can be traced to here: https://blockchain.info/pt/address/14cZMQk89mRYQkDEj8Rn25AnGoBi5H6uer

Is that Italian? Seems Like Alessia Tatti, is pumping deposits into the account, with fake scam payments.

It's portuquese, so someone is pumping bullshit payments into their account.

what would be the point? The stock is almost worthless at this point. If this is a scam they did it wrong, they could pump this stock easily and dump 2 million shares and disappear.

[hammurabi]

I have started to investigate other scams to see if they might link together.

CedarTec's website looks similar in visuals to LabCoin's.
http://cedartec.net
http://labcoin.com

Some of similarities I find:

1. Strong emphasis on good looking pictures.
2. Logo placed at same top-left spot of the site.
3. Logo of same design - two graphic elements combined with company name (also two-words combined)
4. Usage of three column design of website.
5. Footers mix same elements. Use of word "Tec". Mixing different separators.
2013 | CedarTec - Kassem Mourad, Tripoli - Lebanon | All rights reserved.
Copyright labcoin / iTec Pro Limited - Hong Kong 2013 - All rights reserved
6. All devices on pictures are shown from exactly same angle.
Left device from straight front.
Middle turned clockwise, shows efficiency of cooling,
Right turned anticlockwise. Emphasis on interiors (fans, psu, leds while labcoin's show the board).
All pictures are shown from exact same angles.
Use of plastic/rubber stands at bottom of devices or round curves in both designs also match.

All those things are far from being proof of any kind, but shows that both designers had common sense of art.

[bitrich]

Can somebody come on here and confirm that you are buying at these prices so we can point fingers and laugh at you for being complete morons?

Just bought again, im averaging my cost down. The risk hasn't increased in the last week, if anything it has got better as they have outsourced the issues they are having.

Please note I can afford to lose my investment & am well aware of the risk. I may end up with egg all over my face, balls, dick & feet... but I may be right & the upside is huge to me compared to losing a few K.

this isnt for everyone - I am not encouraging people to buy, but the risk reward works for me personally. Plus I will so enjoy cashing out my Divs one month & sending you a picture of me rubbing £50 notes on my titties...

Doesnt make sense that its a scam, the upside is ridiculous and if it is a scam they will definitly be pumping the price up before dumping, scam or not there is a ton of money to be made possibly.

[Vigil]

Official Labcoin's Office:

Lavcoin

[KS]

I have started to investigate other scams to see if they might link together.

CedarTec's website looks similar in visuals to LabCoin's.
http://cedartec.net
http://labcoin.com

Some of similarities I find:

1. Strong emphasis on good looking pictures.
2. Logo placed at same top-left spot of the site.
3. Logo of same design - two graphic elements combined with company name (also two-words combined)
4. Usage of three column design of website.
5. Footers mix same elements. Use of word "Tec". Mixing different separators.
2013 | CedarTec - Kassem Mourad, Tripoli - Lebanon | All rights reserved.
Copyright labcoin / iTec Pro Limited - Hong Kong 2013 - All rights reserved
6. All devices on pictures are shown from exactly same angle.
Left device from straight front.
Middle turned clockwise, shows efficiency of cooling,
Right turned anticlockwise. Emphasis on interiors (fans, psu, leds while labcoin's show the board).
All pictures are shown from exact same angles.
Use of plastic/rubber stands at bottom of devices or round curves in both designs also match.

All those things are far from being proof of any kind, but shows that both designers had common sense of art.

Have a look at the current crop of templates. They all look like that.

[KS]

Lavcoin

Well...you just won a +1!

[TMAN]

Can somebody come on here and confirm that you are buying at these prices so we can point fingers and laugh at you for being complete morons?

Just bought again, im averaging my cost down. The risk hasn't increased in the last week, if anything it has got better as they have outsourced the issues they are having.

Please note I can afford to lose my investment & am well aware of the risk. I may end up with egg all over my face, balls, dick & feet... but I may be right & the upside is huge to me compared to losing a few K.

this isnt for everyone - I am not encouraging people to buy, but the risk reward works for me personally. Plus I will so enjoy cashing out my Divs one month & sending you a picture of me rubbing £50 notes on my titties...

Doesnt make sense that its a scam, the upside is ridiculous and if it is a scam they will definitly be pumping the price up before dumping, scam or not there is a ton of money to be made possibly.

If its legit the dividends will be unreal. ill be earning more than the national average wage in dividends from a punt. decent enough as a passive income

[pedrog]

I have started to investigate other scams to see if they might link together.

CedarTec's website looks similar in visuals to LabCoin's.
http://cedartec.net
http://labcoin.com

Some of similarities I find:

1. Strong emphasis on good looking pictures.
2. Logo placed at same top-left spot of the site.
3. Logo of same design - two graphic elements combined with company name (also two-words combined)
4. Usage of three column design of website.
5. Footers mix same elements. Use of word "Tec". Mixing different separators.
2013 | CedarTec - Kassem Mourad, Tripoli - Lebanon | All rights reserved.
Copyright labcoin / iTec Pro Limited - Hong Kong 2013 - All rights reserved
6. All devices on pictures are shown from exactly same angle.
Left device from straight front.
Middle turned clockwise, shows efficiency of cooling,
Right turned anticlockwise. Emphasis on interiors (fans, psu, leds while labcoin's show the board).
All pictures are shown from exact same angles.
Use of plastic/rubber stands at bottom of devices or round curves in both designs also match.

All those things are far from being proof of any kind, but shows that both designers had common sense of art.

Have a look at the current crop of templates. They all look like that.

Exactly!

[bitwhizz]

Can somebody come on here and confirm that you are buying at these prices so we can point fingers and laugh at you for being complete morons?

Just bought again, im averaging my cost down. The risk hasn't increased in the last week, if anything it has got better as they have outsourced the issues they are having.

Please note I can afford to lose my investment & am well aware of the risk. I may end up with egg all over my face, balls, dick & feet... but I may be right & the upside is huge to me compared to losing a few K.

this isnt for everyone - I am not encouraging people to buy, but the risk reward works for me personally. Plus I will so enjoy cashing out my Divs one month & sending you a picture of me rubbing £50 notes on my titties...

Doesnt make sense that its a scam, the upside is ridiculous and if it is a scam they will definitly be pumping the price up before dumping, scam or not there is a ton of money to be made possibly.

If its legit the dividends will be unreal. ill be earning more than the national average wage in dividends from a punt. decent enough as a passive income

Welll you could bet on a football game at 100/1 odds and earn more than the national wage, you probably have more of a chance of getting that right than this, this is a flat out scam and will crash to zero, you've been warned

[hammurabi]

I have started to investigate other scams to see if they might link together.

CedarTec's website looks similar in visuals to LabCoin's.
http://cedartec.net
http://labcoin.com

Some of similarities I find:

1. Strong emphasis on good looking pictures.
2. Logo placed at same top-left spot of the site.
3. Logo of same design - two graphic elements combined with company name (also two-words combined)
4. Usage of three column design of website.
5. Footers mix same elements. Use of word "Tec". Mixing different separators.
2013 | CedarTec - Kassem Mourad, Tripoli - Lebanon | All rights reserved.
Copyright labcoin / iTec Pro Limited - Hong Kong 2013 - All rights reserved
6. All devices on pictures are shown from exactly same angle.
Left device from straight front.
Middle turned clockwise, shows efficiency of cooling,
Right turned anticlockwise. Emphasis on interiors (fans, psu, leds while labcoin's show the board).
All pictures are shown from exact same angles.
Use of plastic/rubber stands at bottom of devices or round curves in both designs also match.

All those things are far from being proof of any kind, but shows that both designers had common sense of art.

Have a look at the current crop of templates. They all look like that.

Templates yes, there are thousands of templates out there with similarities.
But similarities between those two websites goes deep beyond templates.
In fact the code looks different, but overall look is similar.

[bitrich]

Can somebody come on here and confirm that you are buying at these prices so we can point fingers and laugh at you for being complete morons?

Just bought again, im averaging my cost down. The risk hasn't increased in the last week, if anything it has got better as they have outsourced the issues they are having.

Please note I can afford to lose my investment & am well aware of the risk. I may end up with egg all over my face, balls, dick & feet... but I may be right & the upside is huge to me compared to losing a few K.

this isnt for everyone - I am not encouraging people to buy, but the risk reward works for me personally. Plus I will so enjoy cashing out my Divs one month & sending you a picture of me rubbing £50 notes on my titties...

Doesnt make sense that its a scam, the upside is ridiculous and if it is a scam they will definitly be pumping the price up before dumping, scam or not there is a ton of money to be made possibly.

If its legit the dividends will be unreal. ill be earning more than the national average wage in dividends from a punt. decent enough as a passive income
[/quoi

yeah, the rewards will be huge if you are comfortable enough to possiblly lose a few btc, its gambling but a huge upside, place your bets