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

[JoTheKhan]

in 5 days all Labcoin has to say is they lost the asset list and it is all over

Why wouldn't Burnside keep a copy of the asset list? At the very least until October 31st, when btc-tc actually closes (as oppose to stops secondary trading).

Burnside does keep an updated asset list. This thread has lost its mind.

I would expect burnside to keep an update list. I still expect this company to be nonexistent in roughly 5 days. If not on the 7th, then right after the 31st.

[BitThink]

Guys. Just my two cents.

We need to not act like an angry mob. << This is the most important thing.

I think we can all agree that the first thing Labcoin__ or whoever on the Q&A should of done was verify who they are. Now, a few people on this forum are saying that this is not a scam, (I disagree). But that is perfectly fine if this is not a scam, we still have a right to know who is leading this project. You don't raise these kinds of funds, lie about who you are, break promises for 2 months and then get away clean. The real world doesn't work like that and I don't think the Bitcoin companies should work like that. I'm not saying we should become some type of vigilantes. BTCT.co closes down in 5 days, and in 5 days all Labcoin has to say is they lost the asset list and it is all over. Between now and then, the person who is running this company needs to understand that when push comes to shove some of the more aggressive people on this forum are going to take matters into their own hands. (I don't think you guys should haunt these people btw).

The person who runs the Labcoin company and account, If you are Alessia or Fabrizio Tatti or Alberto or whoever, if you are one of these people. Please show some verification before their life is ruined. Trust me, sooner or later you will be found out. Before things escalate any further you should resolve this situation and either lead the company effectively or refund ALL shares with every single satoshi that you have left from the IPO along with the chips (even if they are worthless).

+1

[BitThink]

The witchhunt is premature.  I don't care how mad you are, I don't care why you're mad.  Harassing people at this point WILL NOT END WELL FOR ANYONE.

Continue to collect all information, but calm the fuck down.

People taking $700K from public don't have right to hide themselves.

[BitCsByBit]

Potentially they could be hashing with these   

Interested in 100~126 chips. What's next step ?

i have a slight interest for about 500 chips. Still thinking about it though.

Hi,

I want to buy one Icarus FPGA board as per :

http://en.qi-hardware.com/wiki/Icarus

Does anyone have one up for sale ? What's your price ?

Thank you very much
Cheers
Delaria

[redbeans2012]

I'm amazed how much support this stock has, lots of selling price just stays.  I'm almost certain that labcoin is buying back some shares.

[atrax1978]

Why don't Labcoin buy BTCT.co?
Change Labcoin from a Miner to a Stock Exchange.
BTCT.co is closing, What a WONDERFUL OPPORTUNITY!

No one supports this solution?
Our shareholders have 70% of Labcoin, why don't vote to save labcoin to get back our lost?

[VolanicEruptor]

Why don't Labcoin buy BTCT.co?
Change Labcoin from a Miner to a Stock Exchange.
BTCT.co is closing, What a WONDERFUL OPPORTUNITY!

No one supports this solution?
Our shareholders have 70% of Labcoin, why don't vote to save labcoin to get back our lost?

It just doesn't make sense.. labcoin is barely capable of wiping their own ass, how would they have the capability of running an exchange?  They don't even know how to make their lies semi-believable... this new venture would be like a 2 year old trying to learn how to drive a car, or do taxes.  

[Puppet]

Letting Alberto Armandi run an exchange. Now there is a daft idea if I ever heard one.

[atrax1978]

Why don't Labcoin buy BTCT.co?
Change Labcoin from a Miner to a Stock Exchange.
BTCT.co is closing, What a WONDERFUL OPPORTUNITY!

No one supports this solution?
Our shareholders have 70% of Labcoin, why don't vote to save labcoin to get back our lost?

It just doesn't make sense.. labcoin is barely capable of wiping their own ass, how would they have the capability of running an exchange?  They don't even know how to make their lies semi-believable... this new venture would be like a 2 year old trying to learn how to drive a car, or do taxes.  

Burnside wasn't born with the capability of running an exchange, One can learn if he really want to. And this will help labcoin to get out of the competition of the mining which is too cruel now.

[drawingthesun]

Except burnside is not selling the code, perhaps they can use investor funds to employee programmers?

[TsuyokuNaritai]

Except burnside is not selling the code

You certain?

https://bitcointalk.org/index.php?topic=304208.0

[BitThink]

Who will send BTC to an exchange run by a person having such a 'good' record in running labcoin? Even 'Sam' himself could not be brave enough to propose such a plan. Even he did, how can you expect him to have enough part time to spare on managing an exchange, when his precious part time is mostly used in managing labcoin and often too busy to meet his promises.

[drawingthesun]

Except burnside is not selling the code

You certain?

https://bitcointalk.org/index.php?topic=304208.0

Oh wow if this happens its seriously good news.

EDIT: Its good news if woodrake and the community buy the code, I never expect Labcoin to buy the code I doubt anyone would trust them.

[BitCsByBit]

[11:05:08 PM] TheSeven: an italian friend of mine, who was a potential investor, said that he/she used the male form of some language constructs, even though the name is clearly female
[11:05:32 PM] TheSeven: we suspected that it was in fact fabrizio chatting on alessia's account

That "italian friend" it's me.

Thanks agath.

This is quite important, especially when it's coming from someone like you.

Fabrizio has denied that he has any knowledge of what is going on, but there is a very high chance that he is behind all of this, and that he is sidestepping and letting "Sam" take over to avoid legal issues.

There are too many unanswered questions, and while there were plenty of opportunists, they have not presented any evidence that this is not a scam.

I'm going to repost a part of your conversation with Farbrizio from the 25th of June:

[02:17] <agath> tu saresti?
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!

[02:19] <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

[02:21] <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

Source link: http://pastebin.com/ECm7V0LT

[VolanicEruptor]

I don't understand, if he wants to hide himself with another identity, why does he come straight out and admit it in a conversation? 
If he is indeed a scammer, he's sure not the brightest..

[abuelau]

here it's me writing, but using the name of the nominee director that I hired for the Honk Kong company

He didn't say that he's using the name of an imaginary director.

He said he HIRED a director and is using his name. Big difference.

[Puppet]

here it's me writing, but using the name of the nominee director that I hired for the Honk Kong company

He didn't say that he's using the name of an imaginary director.

He said he HIRED a director and is using his name. Big difference.

Its only a difference if that person actually exists. My guess is that he does, and is called Armandi.

Anyway, why dont some of you with vested interest in this scam pool a few BTC and hire a lawyer, there is one on this forum. Just send Fabricationio a nice registered letter asking some clarifications.

[Bitcycle]

It's been 1 day since this list was posted.

Unfortunately, no action items have been completed.

The list remains as it is.  I am including some suggestions added by the community, though it is important to note that these have not been agreed to by Mr. Noi.

I am PMing a reminder copy to Mr. Noi as soon as this is posted.

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.

Suggested additional items from the community

• Meet with a shareholder in person in Shenzhen / Hong Kong. Lunch/coffee/tea meeting etc.  Merv77 has indicated that he will be in town and available Oct 23 - Nov 11. An in person meeting with a third party could soothe a lot of anxieties.
• Provide a full accounting for all money spent so far.  A spreadsheet showing expenses and dates would be ideal.

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

[Rannasha]

For more lulz, we don't know exactly when trading will stop.

Burnside, sorry if this has been asked, but what is the exact time of the trading halt? I believe you're on Pacific Time, so will it be October 7th, 12:01AM Pacific Time?

I don't have an exact time, sorry.  That's a work day, and a busy one, so probably around when I get home in the evening.

Cheers.

Who's going to end up with the hot potatoes?

It makes the game more interesting this way.

[drawingthesun]

Pankkake, do you think there is any chance this was not a scam but rather a badly run company?