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

[Bitcycle]

Bid for 181350 shares at   0.0002000

If you want out, now's your chance to stop whining and do it.

[1713568641]

1713568641

[merv77]

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

this guy is online now, has someone contacted him..?

EDIT I sent him a message in italian asking for his help.. We'll see if he replies

[BitCsByBit]

I wonder what changed since then? There is probably only 7000 different reasons why transparency is no longer the key point.

Yep. they are.

Fabrizio Tatti is the majority shareholder and CEO of iTec-Pro Limited actually.

Cheers?

I'm surprised you gave honest answer   . I can see you are at least actually in location, and have not (yet) gone down route of asking for public preorder or investment request for early birds, So I will give this 'trolling' a rest and just keep eyes peeled.

Transparency is, and will remain a key point in our conduct.

[abuelau]

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

How could you possibly know that this is his personal account?

[iCEBREAKER]

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.

You can't con an honest man.

It's time to own your personal responsibility for letting greed blind you to the truth.

Many people, myself included, warned you about LABscam (and ActiveScamming).

Our warnings were met with hostility and campaigns encouraging others to Ignore (IE shun) us.

   How's that working out for you?   

Do you regret not heeding my advice, and refusing to

...wait for it...







...here it comes...






ALWAYS BET ON iCE...


....?     

[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.

You can't con an honest man.

It's time to own your personal responsibility for letting greed blind you to the truth.

Many people, myself included, warned you about LABscam (and ActiveScamming).

Our warnings were met with hostility and campaigns encouraging others to Ignore (IE shun) us.

   How's that working out for you?   

Do you regret not heeding my advice, and refusing to

What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.

[stereotype]

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.

You can't con an honest man.

It's time to own your personal responsibility for letting greed blind you to the truth.

Many people, myself included, warned you about LABscam (and ActiveScamming).

Our warnings were met with hostility and campaigns encouraging others to Ignore (IE shun) us.

   How's that working out for you?  

Do you regret not heeding my advice, and refusing to

What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.

That was the blatant lie, that made all the lies after that so easy, for whoever is acting out this farce.

All efforts should be focused on securing any outstanding funds, and tracking real-world people down, or this episode becomes a template for future btc grabs.

Going forward, more KYI (Know Your Issuer) procedures need to be established, with particular attention within an IPO contract, pertaining to 'reporting/updates' and sanctions there-of.

[moribana]

What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.

What is amazing to me is that the whole thing implodes so slowly. The price was still above IPO when it was pretty obvious that this thing will not work. So anyone cautious enough had time to leave. It reminds me of the experiment when you can cook a frog alive if you heat up the water slowly, but if you do it rapidly, the poor creature just jumps out.

[lzr1900]

balabalabala...strong support around 0.0002-0.00023....someone want to pump up the price...LMAO

[iCEBREAKER]

What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.

You really don't know, do you?   

*gets nasty feeling in pit of stomach*

Aww, man.  Now I have to feel genuine pity for you and I hate doing patronizing crap like that.   

1.  Due diligence.  Assign them zero credibility to start and only raise that value based on reputable sources.  If you haven't been here long enough resolve to abstain from securities until you know the lay of the land.

2.  Trust but verify.  Labcoin red flags include a lack of press releases from their physical layout partner and foundry.

3.  Know and respect your limits.  If you can't/don't grok something, keep your wallet closed.

4.  Don't chase yield, don't be a herd animal.  Don't follow the crowd into anything because the smart money already cashed out and is drinking champagne at the expense of dumb money.

5.  Read MP's blog at Trilema for more tips on 'How-to not being a sucker.'

6.  Valuable lessons are always (and necessarily) expensive.  Salvage experience when all else goes to zero.

Sorry for your loss.   But you're young and have lots of time to make it up.   

[stereotype]

What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.

What is amazing to me is that the whole thing implodes so slowly. The price was still above IPO when it was pretty obvious that this thing will not work. So anyone cautious enough had time to leave. It reminds me of the experiment when you can cook a frog alive if you heat up the water slowly, but if you do it rapidly, the poor creature just jumps out.

I think a contributing factor in the slow implosion, was the well rehearsed and contrived 'updates' from TheSwede and Labcoin.

It would be very churlish to rake over what people should have realised and noticed. So if anything positive can be salvaged, it should at least be used, so as to head-off any future farces like this. Thats if people actually give a shit, of course.

[BitThink]

I think many people, including me, did not take this as a pure investment.

We at least to some extent want to make fast money by taking the ride of the pump and dump, which was usually caused by a promise with precise date and then an update came later.

Therefore, even people realized it is definitely not a company can be trusted, they still stayed because of its high volatility. I believe that a lot of people still haven't left due to the same reason.

[jinyoubei]

  with every update some people get rich, more crying. It's a gamble guessing other's emotions.

I think many people, including me, did not take this as a pure investment.

We at least to some extent want to make fast money by taking the ride of the pump and dump, which is usually caused by a promise with precise date and then an update comes later.

Therefore, even people realized it is definitely not a company can be trusted, they still stayed because its high volatility. I believe that a lot of people still haven't left due to the same reason.

[zumzero]

What could I have done? They literally said 'we're hashing now, and we will not miss 20 th deployment in the next two weeks'. How can anyone have a chance if they are lied to that blatantly? They even brought out the btcguild ranking to back it up.

You really don't know, do you?   

*gets nasty feeling in pit of stomach*

Aww, man.  Now I have to feel genuine pity for you and I hate doing patronizing crap like that.   

1.  Due diligence.  Assign them zero credibility to start and only raise that value based on reputable sources.  If you haven't been here long enough resolve to abstain from securities until you know the lay of the land.

2.  Trust but verify.  Labcoin red flags include a lack of press releases from their physical layout partner and foundry.

3.  Know and respect your limits.  If you can't/don't grok something, keep your wallet closed.

4.  Don't chase yield, don't be a herd animal.  Don't follow the crowd into anything because the smart money already cashed out and is drinking champagne at the expense of dumb money.

5.  Read MP's blog at Trilema for more tips on 'How-to not being a sucker.'

6.  Valuable lessons are always (and necessarily) expensive.  Salvage experience when all else goes to zero.

7.  Do NOT invest in a company which uses ICE in it's name.

Sorry for your loss.   But you're young and have lots of time to make it up.   

Thaur ye gang, fixed it fur ye .

[ampu]

I think this is the current email address of Fabrizio Tatti: bannet@tiscali.it

From http://www.linkedin.com/company/itec-pro-limited
we got
http://i-tec.pro website

This is i-tec.pro whois
http://whois.domaintools.com/i-tec.pro

Now go to Facebook and use bannet@tiscali.it in the search bar, you'll get https://www.facebook.com/fabrizio.tatti

[Zubilica]

does anyone call this no ?

Billing Name:Fabrizio Tatti
Billing Organization:I-Tec
Billing Street2:Haiyi Dasha 1916
Billing City:Zhuhai
Billing State/Province:Guangdong
Billing Postal Code:519000
Billing Country:CN
Billing Phone:+1.8618675622206

[Bitcycle]

NOTES FROM THE Q&A

INCLUDING A TO-DO LIST FOR SAMUELE NOI.

I am PMing a copy of this to-do list to the Labcoin account as a reminder of the action items from this session.

I am also asking Mr. Noi to inform us when these items are completed.

Actions for the next 24 hours.

• Skype session with Ukyo regarding Bitfunder listing
• Posting to the forum the amount of BTC left in the company funds.
• Change pool to Eligius
• Make the labcoin portfolio public on BTCT

Other actions to complete ASAP

• Verification of ID.  A good start would be writing "I am Samuele Noi of Labcoin" and the date on a piece paper, and photograph yourself holding it.
• Photos of the hosting facilities as well as the operational boards
• Send a sample board to TheSeven.  This should be done immediately as the sooner he gets the board the sooner he can provide advice. Delays have a direct cost.
• Exact power consumption figures for the chips/boards

Actions for the community to complete ASAP

• Nominate a panel of community representatives to work closely with Samuele. This should be done immediately. We complain about delays from Sam, let's not do what we criticize him for.

THIS LIST WILL BE REPOSTED DAILY WITH ITEMS CHECKED OFF AS THEY ARE COMPLETED

[BitCsByBit]

I think this is the current email address of Fabrizio Tatti: bannet@tiscali.it

From http://www.linkedin.com/company/itec-pro-limited
we got
http://i-tec.pro website

This is i-tec.pro whois
http://whois.domaintools.com/i-tec.pro

Now go to Facebook and use bannet@tiscali.it in the search bar, you'll get https://www.facebook.com/fabrizio.tatti

Nice work.

He posted here listing his email address and signing his name:
"Do you want to get 300 USD per day in Zhanjiang City,China ?"
http://community.travelchinaguide.com/forum2.asp?i=61868&page=2

[lzr1900]

NOTES FROM THE Q&A

INCLUDING A TO-DO LIST FOR SAMUELE NOI.

I am PMing a copy of this to-do list to the Labcoin account as a reminder of the action items from this session.

I am also asking Mr. Noi to inform us when these items are completed.

Actions for the next 24 hours.

• Skype session with Ukyo regarding Bitfunder listing
• Posting to the forum the amount of BTC left in the company funds.
• Change pool to Eligius
• Make the labcoin portfolio public on BTCT

Other actions to complete ASAP

• Verification of ID.  A good start would be writing "I am Samuele Noi of Labcoin" and the date on a piece paper, and photograph yourself holding it.
• Photos of the hosting facilities as well as the operational boards
• Send a sample board to TheSeven.  This should be done immediately as the sooner he gets the board the sooner he can provide advice. Delays have a direct cost.
• Exact power consumption figures for the chips/boards

Actions for the community to complete ASAP

• Nominate a panel of community representatives to work closely with Samuele. This should be done immediately. We complain about delays from Sam, let's not do what we criticize him for.

THIS LIST WILL BE REPOSTED DAILY WITH ITEMS CHECKED OFF AS THEY ARE COMPLETED

Great job..I suggest you to start a new topic to monitor and update this to-do list daily.

[agath]

hello, can you post in the labcoin thread, and confirm for people these conversations were real and took place:

http://translate.google.com.au/translate?hl=en&sl=it&tl=en&u=http%3A%2F%2Fpastebin.com%2FECm7V0LT

I do confirm that this conversation took place.