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

[gramma]

My single share is providing me endless amusement.

[1713294105]

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[redbeans2012]

So is it a problem with the chips or just the board design? 

[Squirrel Dearing]

My single share is providing me endless amusement.

+1

[twentyseventy]

radium soup is hitting the nail on the head with tthese questions

Damn straight, he's not pulling any punches.

[Puppet]

<labcoin__> we're using the same ICs from the batch, some of them are not actually "defective"
<labcoin__> this isn't really a defect but a  result of the packaging choice.

i am sure he doesn't know what he is talking about...

Actually, the above is credible. I will expand on that later if you want.

Right now this is more interesting:

Fabrizio Tatti was the owner of the project, and alessia his sister, previously  involved. We deny all connections of the project with other people.

[BitCsByBit]

And I'm out. Loss ~ 200 BTC



I'll just put this here:
http://translate.google.com.au/translate?hl=en&sl=it&tl=en&u=http%3A%2F%2Fpastebin.com%2FECm7V0LT



Agath confirmed he has nothing to do with Labcoin as he didn't trust them, and he has translated this bit for me:

[02:17] <agath> tu saresti?
Who are you?

[02:17] <route69> ti ha informato riguardo al progetto ?
Did he told you about the project?


[02:17] <agath> (penso di averlo capito, ma chiedo per sicurezza)
I think I can guess, but I am asking to be sure

[02:17] <route69> tu saresti cosa ? scusa non ho capito
What am I what? I didn't understand

[02:17] <agath> semmai tu saresti 'chi' :-)
You mean "WHO" are you :-)

[02:17] <route69> ah ok, Fabrizio Tatti
ah ok, I'm Fabrizio Tatti

[02:17] <route69> il proprietario di iTec Pro Limited, che sta dietro a Labcoin
the owner of iTec Pro Limited, which is behind Labcoin

[02:18] <agath> ok!
ok!

[02:18] <route69> bene, infatti volevo chiederti se avessi avuto aggiornamenti da theSeven in merito al progetto
well, I want to know if you have news from TheSeven about the project

[02:18] <agath> no, non ne abbiamo parlato
no, we didn't talk about that


[02:19] <agath> so che sta seguendo da vicino gli sviluppi dei vari produttori...
I know that he is following the various manufacturers

[02:19] <agath> ma non ho piu` avuto notizie di labcoin ne dal vostro team ne da lui
but I didn't have anymore any news about labcoin neither from your team nor from him

[02:19] <route69> ok allora
well then

[02:19] <route69> https://bitcointalk.org/index.php?topic=241033.0
<no need to translate>

[02:19] <route69> questa è la presentazione ufficiale, qui scrivo io, ma con il nome del Nominee director che ho preso per l'azienda ad Hong Kong
This is the official presentation, here it's me writing, but using the name of the nominee director that I hired for the Honk Kong company

[02:20] <route69> perche voglio evitare esposizioni dirette, rischi vari etc
because I don't want to be directly exposed to various risks

[02:20] <route69> in ogni caso poi legalmente ne rispondo io
anyway I am legally responsible

[02:20] <route69> per qualsiasi cosa, anche se c'è il nominee director
for everything, even if there is a nominee director

[02:21] <route69> il mio nome è venuto fuori comunque nel thread
my name appeared anyway on the thread

[02:21] <route69> + avanti
later on the thread

[02:21] <route69> ma era ovvio, comunque l'intenzione non è di nascondere, ma evitare esposizione diretta
but it's obvious I didn't want to hide, just avoid direct exposure

[02:22] <agath> ok, nessun problema, in ogni caso non sono una persona indiscreta.
ok, no problem, anyway I am not someone that does other's businesses.

[codegnome]

So is it a problem with the chips or just the board design? 

He does not know, he does not have an engineer. Dude is flying blind.

[gimme_bottles]

So is it a problem with the chips or just the board design? 

from what was said in IRC it seems to be the chips, but i am not sure if even labcoin himself knows exactly...

[Tafelpoot]

Now Labcoin is just a totally clueless guy running an ASIC company. There is no IP (intellectual property), no developpers, no working chips, no mining units. How could anyone trust any output of an empty box like this.

[jinyoubei]

OK, now someone please fill my 0.00015 bid.

[LiteBit]

Code:

[15:30] <@radiumsoup> How many bitcoins are left, and please tell us what address they are at
[15:31] <+labcoin__> i am not on that workstation right now. I'll provide this info on the forum, is that alright?
[15:31] <@radiumsoup> yes, thank you
[15:31] <+labcoin__> there are more than 50% remaining.

[VolanicEruptor]

dead silence after repeating the identity question..

[TMAN]

Code:

[15:30] <@radiumsoup> How many bitcoins are left, and please tell us what address they are at
[15:31] <+labcoin__> i am not on that workstation right now. I'll provide this info on the forum, is that alright?
[15:31] <@radiumsoup> yes, thank you
[15:31] <+labcoin__> there are more than 50% remaining.

so the stock is worth @ least double what it is now, 0.0005 for the coins in hand alone.

[wickedgoodtrader]

<+labcoin__> there are more than 50% remaining.

If that is true, the best for shareholders would be to refund what's remaining before they blew it on more stuff that it too late and does not work.

For the same reason that you ask BFL for refunds.

+1.. what if everyone just asks for this to be done and he refuses?

But then again, he dodged the whole wallet addres.

[Pompobit]

great, also Alberto Armandi had about 50% of the bitcoins left during the bittrader scam  

[AngelSky]

Just refund everyone @ 0.0005 and let's finish this.

[VolanicEruptor]

* labcoin__ has quit (Ping timeout: 245 seconds)

[gramma]

radium soup is hitting the nail on the head with tthese questions

Damn straight, he's not pulling any punches.

+1


Also no guarantees the coin balance would be refunded to shareholders.

[wickedgoodtrader]

Pretty sure labcoin is gone forever!

[Squirrel Dearing]

Just wanted to publically thank RadiumSoup for taking the lead and asking the questions!  Great job!