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

[abuelau]

What if Sam Noi is not actually in HK? What if he's indeed that guy in Linkedin and he's actually in Ghana??

I mean Allesia Totti and her brother. They are involved and there are enough evidence already.

Oh Yeah I agree with that. At this point I agree we should do all we can to positively identify everyone involved. The main unknown at this point is still Sam. Is there any way we could get info on him?? Can we ask a forum admin for Sam's IP? At least we would then know which country he's from.

And if he's using Tor, then one more point towards he being a fraud.

[BitThink]

What happens if they got captured?
Will there be a forced buy back? Or will our share simplely worthless?

I don't know. How about the pirate case?

[moribana]

I don't think contacting the SEC is a good idea. Either the SEC has nothing to do with all these bitcoin assets or if they think they have, they could shut down the whole thing altogether, not just labcoin.

What makes you think they arent already? SEC looked deeply in to GLBSE after the pirate ponzi, they are well aware off what is going on. Soon after GLBSE closed, now BTCT. The others will follow soon enough.

This is a simple police case.

This is a security fraud. Thats not a police matter, but good luck getting anywhere through the police.

I do not think that any of these securities are registered properly with the SEC (correct me if I am wrong, this is just an assumption). If this is the case and the SEC is aware of this AND they thought that these were real securities that they had to control then they would have already shut the whole thing down (including Bitfunder).

The fact that this has not happened can have two plausible explanations:

1) The SEC do not know about it

2) The SEC do not care since they do not think that these are real securities that they have anything to do with (if I go to the local farmers market and start selling pieces of paper claiming they are securities, it is more like a simple police case than a SEC case).

By the way I also do not think it is very likely that these people will be caught. But the SEC does not have any better chance of doing anything about people hiding is some remote corner of the globe.

[Puppet]

I do not think that any of these securities are registered properly with the SEC (correct me if I am wrong, this is just an assumption). If this is the case and the SEC is aware of this AND they thought that these were real securities that they had to control then they would have already shut the whole thing down (including Bitfunder).

They took their merry time stopping/investigating Pirate, even though that case was way simpler. A US guy running an obvious ponzi. It doesnt get any more clear cut than that. Yet it took the SEC a year before they pressed charges.

1) The SEC do not know about it

Unthinkable.

2) The SEC do not care since they do not think that these are real securities that they have anything to do with (if I go to the local farmers market and start selling pieces of paper claiming they are securities, it is more like a simple police case than a SEC case).

If those papers promise you a future profit or profit sharing agreement, and these papers can be traded, its a security all right and SEC territory.

It may be possible the SEC doesnt think its worth making a case over this yet, if they think its too small and no real damage is being done. Thats why they may limit themselves to telling Burnside & Co to just stop doing what they are doing. But it would surprise me they wouldnt take the opportunity to make an example of this.

But the SEC does not have any better chance of doing anything about people hiding is some remote corner of the globe.

You dont really believe that, do you?

[Puppet]

What happens if they got captured?
Will there be a forced buy back? Or will our share simplely worthless?

YOu dont really think the SEC will resolve this matter by using a foreign, unregistered anonymous exchange, do you?

[ferskvare]

If anyone actually believe that it is possible to take legal action against this, they are seriously delusional.

[Puppet]

If anyone actually believe that it is possible to take legal action against this, they are seriously delusional.

Or they have read the securities act, unlike you.

[BitThink]

Taking money back is really difficult, but we could try our best to get them punished, or at least force them to hide somewhere forever.

[abuelau]

Oh Yeah I agree with that. At this point I agree we should do all we can to positively identify everyone involved. The main unknown at this point is still Sam. Is there any way we could get info on him?? Can we ask a forum admin for Sam's IP? At least we would then know which country he's from.

And if he's using Tor, then one more point towards he being a fraud.

[matt4054]

OMG the rankings now indicate that LABCOIN is under 377 GHS:

25   0 China BTC   377.98 GH/s
...

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

It's falling apart... 

[BenTuras]

OMG the rankings now indicate that LABCOIN is under 377 GHS:

25   0 China BTC   377.98 GH/s
...

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

It's falling apart... 

BtcGuild is having issues. My hashrate is also way lower than normal.

[moribana]

But the SEC does not have any better chance of doing anything about people hiding in some remote corner of the globe.

You dont really believe that, do you?

Yes I really believe this. How long did it take to get Bin Laden? And it was a far bigger fuss than the SEC could ever make about anything. OK, that guy was probably much smarter than these people here. But this is really petty crime and does not justify a large scale international operation. I think that you believe too much in the omnipotence of US authorities.

[Puppet]

Yes I really believe this. How long did it take to get Bin Laden? And it was a far bigger fuss than the SEC could ever make about anything. OK, that guy was probably much smarter than these people here. But this is really petty crime and does not justify a large scale international operation. I think that you believe too much in the omnipotence of US authorities.

What a great comparison 
Yeah, if fabrizio and theswede would be holed up in Pakistan protected by the ISI and quite possibly CIA, supported by millions and surrounded by an army of men loyal enough to give their lives for them, maybe it would be tricky.

[moribana]

Yes I really believe this. How long did it take to get Bin Laden? And it was a far bigger fuss than the SEC could ever make about anything. OK, that guy was probably much smarter than these people here. But this is really petty crime and does not justify a large scale international operation. I think that you believe too much in the omnipotence of US authorities.

What a great comparison 
Yeah, if fabrizio and theswede would be holed up in Pakistan protected by the ISI and quite possibly CIA, supported by millions and surrounded by an army of men loyal enough to give their lives for them, maybe it would be tricky.

This is not needed. If they just go to some obscure country and take a different identity, nobody will ever find them. At least not until they commit something much more serious than what they did.

[Puppet]

You watch too much tv. Im sure you also believed Pirate was hiding in Vietnam under a false ID leading the good life with his money stashed in Swiss numbered bank accounts. Alberto, assuming he is behind this, may be a scammer, but he is not a fugitive, can still be reached by phone and mail after his previous cons.

[bitwhizz]

I just wanted to visit real quick and let people know that I will not be moderating or participating in the IRC Q/A. I was for a long time, and would still be happy to relay news for Labcoin but the fact is that I have had very little to report lately and had to withstand quite a few accusations from several people on the forum.

Without information to provide, and having been put in a situation where I had to "break my word" several times to simply to lack of communication i have full understanding that investors and the public in general is upset but the fact is that I have never had any inside information on the project and have always just attempted to relay the status and information that I have been provided with.

For what it's worth I still don't see any reason to believe the project is a Scam and I myself have not, and do not intend to sell the shares I own.

This post is not means as critique towards Labcoin, but I feel that to regain confidence the Labcoin team themselves need to answer the questions from the forum directly so that there is just no possibility for any misunderstanding or miscommunication.

I hate the Swede, i said it

[moribana]

You watch too much tv. Im sure you also believed Pirate was hiding in Vietnam under a false ID leading the good life with his money stashed in Swiss numbered bank accounts. Alberto, assuming he is behind this, may be a scammer, but he is not a fugitive, can still be reached by phone and mail after his previous cons.

I do not watch TV at all   All I said was if Alberto and co. want to run, they could easily do that. If tomorrow they go to the SEC and admit what they did that is a different matter.  

[Sou]

You watch too much tv. Im sure you also believed Pirate was hiding in Vietnam under a false ID leading the good life with his money stashed in Swiss numbered bank accounts. Alberto, assuming he is behind this, may be a scammer, but he is not a fugitive, can still be reached by phone and mail after his previous cons.

I do not watch TV at all   All I said was if Alberto and co. want to run, they could easily do that. If tomorrow they go to the SEC and admit what they did that is a different matter.  

Neither Alberto nor Alessia are on the prospectus - they will deny any significant involvement with the venture. Everyone else that is on the prospectus has began to distance themselves from the project, except for Samuel Noi.

Does anyone have any evidence that Samuel Noi of Labcoin is a physical being in this reality?

[ShroomsKit]

How much did they actually make with this scam? Whoever they may be.

[Sou]

How much did they actually make with this scam? Whoever they may be.

Thousands of BTC. How much will that become over time? I think i could make quite a comfortable life out of that.