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

[TsuyokuNaritai]

Incase anyone wants to join me in reporting

http://www.sfc.hk/web/EN/about-the-sfc/contact-us.html

noone knows if that will do more harm than good

Indeed, and potentially not just for Labcoin.

[1713931540]

1713931540

[1713931540]

1713931540

[ishkur]

Incase anyone wants to join me in reporting

http://www.sfc.hk/web/EN/about-the-sfc/contact-us.html

noone knows if that will do more harm than good

Indeed, and potentially not just for Labcoin.

Ok I'll wait a few days, but I don't see how or why it would make a difference.  Our money is long gone

[dhenson]

Incase anyone wants to join me in reporting

http://www.sfc.hk/web/EN/about-the-sfc/contact-us.html

noone knows if that will do more harm than good

Indeed, and potentially not just for Labcoin.

Ok I'll wait a few days, but I don't see how or why it would make a difference.  Our money is long gone

Wait until Nov. 1 IMO for the Oct. 15th batch of chips to arrive.  If we don't have rock solid proof of receipt of actual Labcoin chips/boards by then we can be 100% certain it's a scam.  Right now it's only 95%  

[kingcrimson]

Incase anyone wants to join me in reporting

http://www.sfc.hk/web/EN/about-the-sfc/contact-us.html

This is a better link--

online complaint form:
https://www.sfc.hk/web/EN/lodge-a-complaint/against-intermediaries-and-market-activities/complaint-form/

or email them direct:
complaint@sfc.hk

I have reported, and urge others to do so as well.

Do it before Fabrizio leaves the country... it will be way harder to get him if he leaves Hong Kong.

Save the Labcoin prospectus as well before btct goes offline. 

For target person, write:
Fabrizio Tatti from Shenzhen, Guangdong
works at OPPO electronics in Guangdong in the international marketing department.

[KCBitcoin]

Incase anyone wants to join me in reporting

http://www.sfc.hk/web/EN/about-the-sfc/contact-us.html

This is a better link--

online complaint form:
https://www.sfc.hk/web/EN/lodge-a-complaint/against-intermediaries-and-market-activities/complaint-form/

or email them direct:
complaint@sfc.hk

I have reported, and urge others to do so as well.

Do it before Fabrizio leaves the country... it will be way harder to get him if he leaves Hong Kong.

Save the Labcoin prospectus as well before btct goes offline. 

For target person, write:
Fabrizio Tatti from Shenzhen, Guangdong
works at OPPO electronics in Guangdong in the international marketing department.

+1

[superduh]

do you realize that if things DO pull through the complaint will harm you much more than not reporting it.
sometimes you have to wait before getting agencies involved for YOUR OWN good.

[auto2nr1]

Just FYI Swede, if this ends up being a scam, not all of us hold you responsible.  It's obvious to me at least that you have been acting in good faith.

edit... What contact methods have you had for Sam?  Anything traceable like a phone number, personal email etc.?

Swede has labcoin's skype, e-mail as well as 2 phone numbers.

[kingcrimson]

If you report, I would also mention Alberto Armandi, who is located in Shenzhen as well (what a coincidence...).
 
I don't understand why some of you are withholding info (drivers license, phone #), but I'm sure you'll be contacted by authorities soon enough. Your choice how much you want to protect these clowns.

[kingcrimson]

do you realize that if things DO pull through the complaint will harm you much more than not reporting it.
sometimes you have to wait before getting agencies involved for YOUR OWN good.

Yes it is likely they will try to shift the blame
"We were on the verge of mining 500TH but since you alerted authorities it is now cancelled, don't blame us"
Bet a lot of you would believe them too.

[Luckybit]

do you realize that if things DO pull through the complaint will harm you much more than not reporting it.
sometimes you have to wait before getting agencies involved for YOUR OWN good.

Yes it is likely they will try to shift the blame
"We were on the verge of mining 500TH but since you alerted authorities it is now cancelled, don't blame us"
Bet a lot of you would believe them too.

I wouldn't be surprised if this kind of stuff is why Bitfunder is shutting down. The heat is coming.

Pull all your investments out now unless you have direct shares.

[bitmoon]

Incase anyone wants to join me in reporting

http://www.sfc.hk/web/EN/about-the-sfc/contact-us.html

noone knows if that will do more harm than good

Indeed, and potentially not just for Labcoin.

Ok I'll wait a few days, but I don't see how or why it would make a difference.  Our money is long gone

Wait until Nov. 1 IMO for the Oct. 15th batch of chips to arrive.  If we don't have rock solid proof of receipt of actual Labcoin chips/boards by then we can be 100% certain it's a scam.  Right now it's only 95%  

batch? i believe he send the crippled mining hardware to outside team to work on it, and get it back by 15th oct.

why say batch? howard never completed the design for 130nm or 180nm, honestly i really dont know what they mining with, could it be they bought avalon chips or something?

remember labcoin said he was one man team? if u ever thought 130nm design is completed by other employee, then nah nah.

if howard left and never finished, and labcoin is 1 man team, then there is no chip im afraid, pic's properly fake, maybe he ran to university and went to staff electronic room and took those look alike asic chips from draw , then he printed out a big paper sheet of labcoin logo, place the university chips on top of the paper logo, take pictures, while we demanded a picture of mining one.

edit: remember again, labcoin, sam is not engineer, he said it in this forum some weeks ago or i must read it in QA or logs

[dhenson]

do you realize that if things DO pull through the complaint will harm you much more than not reporting it.
sometimes you have to wait before getting agencies involved for YOUR OWN good.

Yes it is likely they will try to shift the blame
"We were on the verge of mining 500TH but since you alerted authorities it is now cancelled, don't blame us"
Bet a lot of you would believe them too.

Your words strike me as incredibly ironic. Considering this is what you posted regarding btcgarden.  If you are wrong and labcoin actually receives chips only to be thwarted by your ridiculous crusade YOU will be the stupid troll.

So they are mining 250 th, 5X greater than asicminer
and we all could've been a part of it, if not for a stupid troll

This stings bigger than Labcoin

[dhenson]

batch? i believe he send the crippled mining hardware to outside team to work on it, and get it back by 15th oct.

why say batch? howard never completed the design for 130nm or 180nm, honestly i really dont know what they mining with, could it be they bought avalon chips or something?

remember labcoin said he was one man team? if u ever thought 130nm design is completed by other employee, then nah nah.

if howard left and never finished, and labcoin is 1 man team, then there is no chip im afraid, pic's properly fake, maybe he ran to university and went to staff electronic room and took those look alike asic chips from draw , then he printed out a big paper sheet of labcoin logo, place the university chips on top of the paper logo, take pictures, while we demanded a picture of mining one.

edit: remember again, labcoin, sam is not engineer, he said it in this forum some weeks ago or i must read it in QA or logs

Consider this.

1) Labcoin is horrible at communication and doesn't explain anything.
2) They outsource everything.  We don't know that they didn't have someone else finish the chip design.
3) They have stated many times that they have ordered 100,000 chips after the test batch arrived.

I'm not saying that they are legit, as obviously all signs point to this being a huge cluster fcuk if not an outright scam.  I'm just stating that ever since the troubles started they have been wanting us to withhold judgement until the end of October.  This could be because they are actually going to receive chips.

What do we have to lose by just chilling out for a month?

[BitThink]

You lose every evidence on btct.co and the interest of the majority to do the witch hunting. People tends to forget things very fast, especially those who have already sold all the shares.

[bitmoon]

batch? i believe he send the crippled mining hardware to outside team to work on it, and get it back by 15th oct.

why say batch? howard never completed the design for 130nm or 180nm, honestly i really dont know what they mining with, could it be they bought avalon chips or something?

remember labcoin said he was one man team? if u ever thought 130nm design is completed by other employee, then nah nah.

if howard left and never finished, and labcoin is 1 man team, then there is no chip im afraid, pic's properly fake, maybe he ran to university and went to staff electronic room and took those look alike asic chips from draw , then he printed out a big paper sheet of labcoin logo, place the university chips on top of the paper logo, take pictures, while we demanded a picture of mining one.

edit: remember again, labcoin, sam is not engineer, he said it in this forum some weeks ago or i must read it in QA or logs

Consider this.

1) Labcoin is horrible at communication and doesn't explain anything.
2) They outsource everything.  We don't know that they didn't have someone else finish the chip design.
3) They have stated many times that they have ordered 100,000 chips after the test batch arrived.

I'm not saying that they are legit, as obviously all signs point to this being a huge cluster fcuk if not an outright scam.  I'm just stating that ever since the troubles started they have been wanting us to withhold judgement until the end of October.  This could be because they are actually going to receive chips.

What do we have to lose by just chilling out for a month?

hmm, you didnt factor in the lies, picture proved that the 2TH is lie, they lied about 4th , they gave us empty mining address which we assumed it had some mined coins thats another 2nd prove which proved the 2TH was lie.

test patch? when? during ipo days? he never stated a new test chips after the 2Th failed, did i miss something? do u mean the outsource team created a test chip?

how can they make a test chip on unfinished design? labcoin is not engineer, howard is gone, unless u mean the outsource team made some test chips

[bitmoon]

Just FYI Swede, if this ends up being a scam, not all of us hold you responsible.  It's obvious to me at least that you have been acting in good faith.

I myself can only say that even if it the project gets back on it's feet I would never have gotten involved had I known that it would cause me this much stress for no reason. At this point I just feel stressed out and disappointed in Sam, Fabrizio etc. no matter the outcome.

i respect u now swede.

your statement is what i like to hear honestly, it clarifies/affirms the source of problem, now i know u r on our side.

some ppl might think you are playing victim card to be blameless, but for me, i dont think so.

i trusted labcoin becuase theseven was listed in team, thats why im in hole with you holding hands, (lol , thats to make u smile)

[bitmoon]

@dhenson

the problem right now, i expected labcoin atleast login to forum next day after bitcointalk was up.

but he didnt, neither he dumped the 2million before trade is cut off.

labcoin vanished since QA, never posted anything as news in btct when forum got hacked.

now he is no where to be found, he said 10days in QA when he will be back, but that doesnt justify him not picking up phone call from swede or login in to forum.

for me i think he ran away , and didnt care to dump the 2million for a few coins n take the hassle to withdraw it, cuase burnside is looking too properly

[matt4054]

You may still return the shares to the issuer 'labcoin2' I guess it will take down the number of shares under 9,999,995 as mentioned several thousand pages earlier I think ;-)

At least a couple of shares, or all of them and demand a refund... 0.00000014-18 was still a good price after all for 0,00 GHS hashrate.

[b!z]

Welp, there goes all of my money in labcoin shares.

[Bitcycle]

No, this list isn't going away.  It's here as a reminder of what has not been done.


It's been 8 days 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