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

[Bitcycle]

Everyone realizes that transcript specifically indicates Sam and Fabrizio aren't the same person, right?

[1714815191]

1714815191

[BTCThousandaire]

How about everyone relax and wait 2 days for Ukyo or Burnside to comment on their investigation.

[dexX7]

How about everyone relax and wait 2 days for Ukyo or Burnside to comment on their investigation.

Is there any indication one of them is going to comment on this?

[VolanicEruptor]

Everyone realizes that transcript specifically indicates Sam and Fabrizio aren't the same person, right?

Every time I start reading it, I get a headache and have to stop.  it is nauseating.. can someone just break it down already?

[BitThink]

Honestly, I have lost 20BTC on it and have no bids and will never put bids on it any more.

Moreover, I am not saying it is a scam and just want to make it clear how much it worth given all 'Sam' said are true. I try to persuade those new comers not to buy just because they think the share is cheap, and I also try to persuade people not to buy and try to flip and cause other guys to lose more. Don't lose karma for grabbing BTC from others.

The best thing we can do now is just to press more pressure on 'Sam' and finally force him to sell everything and fully refund all the remaining to the investors. I bet this is what will happen in the real world (not BTC world) in similar situation anyway.

[ishkur]

The only reason to buy now is hoping 'Sam' (whoever he is) to sell the chip design, all chips, and refund all the investors with the BTC remaining. In that case, each share may get around 0.0006 BTC. If you think the probability for this to happen is 'p', then apparently we can buy the share at 0.0006 * p.

If this does happen the real winners are the ones scooping up or have been scooping up at .00018-.00021

[Bitcycle]

The transcript indicates that Sam Noi is a real person that Fabrizio named as a director in his company for the project.

Fabrizio then made a post under the Labcoin account and signed it with Sam's name.


This means the transcript does NOT support the idea that they are the same person, but in fact does directly the opposite.

[VolanicEruptor]

Whats this investigation from Ukyo and Burnside mentioned?? You guys are so vague sometimes, its no wonder this thread is complete garbage.  Every time you post information, post sources, or links, or quotes... SOMETHING

[redmetal]

Whats this investigation from Ukyo and Burnside mentioned?? You guys are so vague sometimes, its no wonder this thread is complete garbage.  Every time you post information, post sources, or links, or quotes... SOMETHING

Its amature hour here, most of these kids shouldn't be allowed to invest.
If this is a scam, I could have pulled a better scam than this, why wouldn't "Sam" just post blurry pics of a some chips? or Post some fake docs to "Prove" who he is?
It's all assumptions either way, look at what has been provided? next to nothing, If any half decent scammer would know is you want to push up the share price by providing what ever fake docs you can, it would cost a few hundred at best to produce some photo shopped pics of chips/ boards/ ID ect.

If this is not a scam and they can gain 1% of the network, ill be looking at a nice gain of ~50BTC, My little risk may or may not pay off.

[BTCThousandaire]

Whats this investigation from Ukyo and Burnside mentioned?? You guys are so vague sometimes, its no wonder this thread is complete garbage.  Every time you post information, post sources, or links, or quotes... SOMETHING

I mentioned this.

From the Q&A https://bitcointalk.org/index.php?topic=263445.msg3273212#msg3273212
[16:08] <@radiumsoup> Where are you in the process of being listed on BitFunder? Will you be able to switch beforee BTCT close?
[16:09] <+labcoin__> We need to go through a Skype call with the owner.
[16:09] <@radiumsoup> When is that skye call scheduled to happen?
[16:09] <+labcoin__> Yes, we will be able i think.
[16:09] <+labcoin__> I'll contact them in the following days.
[16:09] <@radiumsoup> Tomorrow?
[16:10] <+labcoin__> I'll do my best to do it tomorrow.

That indicates Ukyo's involvement.

Burnside knows some information about Labcoin individuals from the exchange.

I have asked via pm for verification of connected identities to be posted in this thread.

[auto2nr1]

might have missed it, but did someone start a nomination process for the shareholder reps?

Would you mind getting it started?? The sooner the better I think.

[BitThink]

Whats this investigation from Ukyo and Burnside mentioned?? You guys are so vague sometimes, its no wonder this thread is complete garbage.  Every time you post information, post sources, or links, or quotes... SOMETHING

Its amature hour here, most of these kids shouldn't be allowed to invest.
If this is a scam, I could have pulled a better scam than this, why wouldn't "Sam" just post blurry pics of a some chips? or Post some fake docs to "Prove" who he is?
It's all assumptions either way, look at what has been provided? next to nothing, If any half decent scammer would know is you want to push up the share price by providing what ever fake docs you can, it would cost a few hundred at best to produce some photo shopped pics of chips/ boards/ ID ect.

If this is not a scam and they can gain 1% of the network, ill be looking at a nice gain of ~50BTC, My little risk may or may not pay off.

If it is a scam, there's a tiny chance that he is so scared and then decided to return all remaining BTCs (may be more than half of 7000BTC).

If it's not, then things may actually be worse. Now you have a completely imcompetent people spending his casual time on managing an almost hopeless company. He will continue throwing the rest BTC to the third party people to try to fix the 130nm chips and try to design a 65nm chip by randomly searching from the forum and contacting them with freechat. Although neither of the two tasks is 'mission impossible', their success both require a lot of efforts, passion, and talents. Do you think this 'Sam' has any of those virtues? In my opinion,  the chance for him to succeed is even lower than the probability of a scammer to refund the victims under enough pressure.

As an investor who knows the company he invested has no hope will always do, please try the best to fire the CEO, sell everything remaining, and get the money back as much as possible.

No matter this is a scam or not, the best thing to do now is try to force 'Sam' to refund the money to each investor and return all (if any) useful assets (design and chips) to someone trustworthy here.

[kingcrimson]

Ukyo was in the chat later saying he was surprised Labcoin said that, and he seemed a bit puzzled by it. (re: Skype conversation with Labcoin)

The transcript indicates that Sam Noi is a real person that Fabrizio named as a director in his company for the project.

Good, then providing valid ID would be really easy. In fact, it would solve many of their problems instantly. Yet his response to proving his identity was: "We are looking into providing that as an option"

Honestly, I have lost 20BTC on it and have no bids and will never put bids on it any more.

Fabrizia has duped a lot of us, I lost five times as much.

[zefyr0s]

Ukyo was in the chat later saying he was surprised Labcoin said that, and he seemed a bit puzzled by it.

I think he said that because of what someone said about Labcoin saying they would be listed on BF within days, which I don't ever remember seeing Labcoin write.

Ukyo couldn't confirm nor deny he was in talks with Labcoin, and that he generally does meet with investors via skype (as is public knowledge) and that especially with the recent history Labcoin has had he would ensure to require valid identification.

[Bitcycle]

might have missed it, but did someone start a nomination process for the shareholder reps?

Would you mind getting it started?? The sooner the better I think.

I nominate Yttrbium and TheSeven for starters, for technical ability.  Also SZMarco if he's still around, since he's local to the action and speaks the language.

[dexX7]

Fabrizio then made a post under the Labcoin account and signed it with Sam's name.

So. We have two people behind the Skype account and two people behind the forum account.

[nousfeed]

Whats this investigation from Ukyo and Burnside mentioned?? You guys are so vague sometimes, its no wonder this thread is complete garbage.  Every time you post information, post sources, or links, or quotes... SOMETHING

Its amature hour here, most of these kids shouldn't be allowed to invest.
If this is a scam, I could have pulled a better scam than this, why wouldn't "Sam" just post blurry pics of a some chips? or Post some fake docs to "Prove" who he is?
It's all assumptions either way, look at what has been provided? next to nothing, If any half decent scammer would know is you want to push up the share price by providing what ever fake docs you can, it would cost a few hundred at best to produce some photo shopped pics of chips/ boards/ ID ect.

If this is not a scam and they can gain 1% of the network, ill be looking at a nice gain of ~50BTC, My little risk may or may not pay off.

quite the opposite, as soon as he provides any fake evidence it will be ripped to shreds by the community leaving him to explain faked evidence. If he doesnt release anything hes leaving it open to speculation and so he can continue the scam, because people like you still invest. Then when it all falls over theres 0 evidence he tried to scam by providing fake evidence.

[Bitcycle]

Fabrizio then made a post under the Labcoin account and signed it with Sam's name.

So. We have two people behind the Skype account and two people behind the forum account.

That's not particularly surprising since the account is a company name.

[BitCsByBit]

The transcript indicates that Sam Noi is a real person that Fabrizio named as a director in his company for the project.

Fabrizio then made a post under the Labcoin account and signed it with Sam's name.


This means the transcript does NOT support the idea that they are the same person, but in fact does directly the opposite.

Where in that transcript does it indicate that Sam is a real person, and not a made up alias to divert the attention from Fabrizio.

Don't you remember that Fabrizio claimed that he had no knowledge of Labcoin operations, and this transcript proves that he is in charge.

Fabrizio is definitively providing conflicting information.

IM in contact with Fabrizzio using google+. Here is what I got so far after pinging him about labcoin:

Hello XXX I offer you my complete availability clarify this issue. First of all I would like to point out that I'm the only shareholder and director of ITEC PRO LIMITED and I've not authorized anybody to act as my spokesperson nor to rise funds using my company name.

were you aware this is happening?

My company has been used to request the production of the samples of the ASICS machines related to the labcoin project for which I've personally signed the documents. I'm not aware about any other action took in the name of my company and I release myself for any responsibility

that is pretty much what I expected. Do you know who "theswede75" is and "Samuel Noi"?

If I'm not wrong Samuel Noi is an hardware engineer who designed the asics
I have no idea who is behind the other nickname

no, that was howard wang
if you signed that purchase order, surely you know at least one of the people personally?
Here is thing; hundreds of people have most likely lost quite a significant amount of money on this. Your name is published, I wont be the last to ask these questions. I would urge you to make a public statement, preferably on bitcointalk.org
and disclose what you know

I've already enquired my collaborators about this issue and I will take action to stop any illegal action or fraud under my company name.
Yes you are right
I have nothing much to disclose. This is everything I know. I will enquire the project manager asking for explanation on this matter but I'm afraid I can't be very helpful

Being able to identify the people behind this would be extremely helpful. And frankly, probably needed to prevent legal action against you. Anyway, I wont take up more of your time, I am looking forward to a public posting of this.

I'm already receiving too many enquiries about this matter and to be honest I have no time to post on this forums where I don't even have a personal account registered

Use facebook?
trust me it will save you time, but no one is going to lieave you alone until the people who collected $1M have been identified

Yes I could be faking that, but Im not, and have no reason to. Feel free to ask him yourselves.

Don't you think that is very convenient that the only person so far identified is not going to be associated with labcoin :

I do confirm my identity as Samuel Noi, the team structure has changed since when the project started.
Howard Wang left the project in August and left for the U.S. to complete his studies and work there.
Michael Sparmann  has consulted for us and developed software for the 65nm interface and currently is in touch with me, awaiting for a chat with the new technical team.
The ownership of the company will be passed from Mr. Tatti to me during the next month.

[kingcrimson]

Is this Fabrizio's personal account: https://bitcointalk.org/index.php?action=profile;u=84350