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

[labcoin]

October 13 Update

Monday we will start deploying the first batch of finalized hardware, amounting to 10 TH/S.
According to our estimations, we will reach 3 TH/s on monday, and about 5 TH/s  within Saturday.
Within Saturday 19, full hashing speed of the first batch will be deployed.
We will receive more batches of hardware in the following weeks and deploy it accordingly.

This week dividends deposit on btct.co has been "confiscated" by Burnside, thus we were unable to push it to shareholders.
Given recent developments at bitfunder we are again looking for a platform to move our shares.

Also how do you plan on paying dividends

If we are unable to find a suitable exchange this task will be executed manually, but we think the best solution would be to use a platform like what btct used to provide.

[dexX7]

Where are you right now, Sam?

[labcoin]

Where are you right now, Sam?

I am in Italy at the moment.

[Duffer1]

What is your association with BTCGarden?

[labcoin]

What is your association with BTCGarden?

I'd say, absolutely none. Why  are you asking so?

[hobbymd]

uhmm....   another promise, I really hope you don't mess this one up for everybody's sake.

[ishkur]

October 13 Update

Monday we will start deploying the first batch of finalized hardware, amounting to 10 TH/S.
According to our estimations, we will reach 3 TH/s on monday, and about 5 TH/s  within Saturday.
Within Saturday 19, full hashing speed of the first batch will be deployed.
We will receive more batches of hardware in the following weeks and deploy it accordingly.

This week dividends deposit on btct.co has been "confiscated" by Burnside, thus we were unable to push it to shareholders.
Given recent developments at bitfunder we are again looking for a platform to move our shares.

Also how do you plan on paying dividends

If we are unable to find a suitable exchange this task will be executed manually, but we think the best solution would be to use a platform like what btct used to provide.

Can you start looking into 796.com or havelock?
Picostocks seems safe as well

[Sou]

@Labcoin post the BTC address that the company funds are in.

[dhenson]

Very relieved you came back.  

If you could catch theseven up on everything and provide him proof of your identity,I think the shareholders would trust his word and would calm everybody down a lot.

Glad to hear the mining rigs are almost online!

[Bitcycle]

It's been 11 days since this list was posted.

Unfortunately, none of Sam's 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.

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.

- COMPLETED

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

[Bitcycle]

October 13 Update

Monday we will start deploying the first batch of finalized hardware, amounting for 10 TH/S.
According to our estimations, we will reach 3 TH/s on monday, and about 5 TH/s  within Saturday.
Within Saturday 19, full hashing speed of the first batch will be deployed.
We will receive more batches of hardware in the following weeks and deploy it accordingly.

This week dividends deposit on btct.co has been "confiscated" by Burnside, thus we were unable to push it to shareholders.
Given recent developments at bitfunder we are again looking for a platform to move our shares.

What's hashing now then

Nothing is hashing right now.

[ishkur]

It's been 11 days since this list was posted.

Unfortunately, none of Sam's 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.

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.

- COMPLETED

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

Please revise your list as some of it is irrelevant now.  Bitfunder is out of the picture

[Bitcycle]

Please revise your list as some of it is irrelevant now.  Bitfunder is out of the picture

I'll revise it based on his responses. In the meantime, Bitfunder is merely standing in for any other exchange, which should be an immediate priority.

[BitSugar]

October 13 Update

Monday we will start deploying the first batch of finalized hardware, amounting to 10 TH/S.
According to our estimations, we will reach 3 TH/s on monday, and about 5 TH/s  within Saturday.
Within Saturday 19, full hashing speed of the first batch will be deployed.
We will receive more batches of hardware in the following weeks and deploy it accordingly.

This week dividends deposit on btct.co has been "confiscated" by Burnside, thus we were unable to push it to shareholders.
Given recent developments at bitfunder we are again looking for a platform to move our shares.

Also how do you plan on paying dividends

If we are unable to find a suitable exchange this task will be executed manually, but we think the best solution would be to use a platform like what btct used to provide.

There is a Labcoin passthru on Havelock. https://www.havelockinvestments.com/fund.php?symbol=LABCO

Do you plan transferring all shares here asap? They should accept Labcoin as they already accepted the passthru. Thanks!

[labcoin]

October 13 Update

Monday we will start deploying the first batch of finalized hardware, amounting to 10 TH/S.
According to our estimations, we will reach 3 TH/s on monday, and about 5 TH/s  within Saturday.
Within Saturday 19, full hashing speed of the first batch will be deployed.
We will receive more batches of hardware in the following weeks and deploy it accordingly.

This week dividends deposit on btct.co has been "confiscated" by Burnside, thus we were unable to push it to shareholders.
Given recent developments at bitfunder we are again looking for a platform to move our shares.

Also how do you plan on paying dividends

If we are unable to find a suitable exchange this task will be executed manually, but we think the best solution would be to use a platform like what btct used to provide.

There is a Labcoin passthru on Havelock. https://www.havelockinvestments.com/fund.php?symbol=LABCO

Do you plan transferring all shares here asap? They should accept Labcoin as they already accepted the passthru. Thanks!

On the passthrough details it says Labcoin is not accepted at this moment, anyway i'm getting in touch with them as well.

[SebastianJu]

Whats the status of the chip heat problem? Is it solved and whats the solution if its solved?

Can you give us the bitcoin address you mine into so that we can guess the hashrate?

[Sou]

What is your association with BTCGarden?

I'd say, absolutely none. Why  are you asking so?

I was just fishing for information.  I hope you realize that Labcoin shareholders know almost NOTHING about this security, things we need and desperately want to know.

We have learned, and uncovered, the fact that almost NOTHING in the BTC-TC security contract is accurate or true in any way.

-H.Z. Wang has verified to us that Labcoin never took receipt of his finished chip design.  Who's gear are you hashing with?  

-Why has 65nm development been suspended?

-Why do you refuse to properly identify (video skype) yourself?  Video chat with TheSeven right now.  Prove you are who you say you are.

-What's the fund address?  Show us the money.

-We're down to 10TH now?!  What happened to 50?

+1

[Sou]

Whats the status of the chip heat problem? Is it solved and whats the solution if its solved?

Can you give us the bitcoin address you mine into so that we can guess the hashrate?

Here: https://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trm

[SebastianJu]

Whats the status of the chip heat problem? Is it solved and whats the solution if its solved?

Can you give us the bitcoin address you mine into so that we can guess the hashrate?

Here: https://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trm

Ok... so the last day nothing hashed is correct...

I hope this new statement is correct. I still own many shares that i couldnt sell without realizing huge loss and now its not possible anymore anyway.

26.57BTC per day would it mean to have 10TH hashing...

[Bitcycle]

October 13 Update

Monday we will start deploying the first batch of finalized hardware, amounting to 10 TH/S.
According to our estimations, we will reach 3 TH/s on monday, and about 5 TH/s  within Saturday.
Within Saturday 19, full hashing speed of the first batch will be deployed.
We will receive more batches of hardware in the following weeks and deploy it accordingly.

This week dividends deposit on btct.co has been "confiscated" by Burnside, thus we were unable to push it to shareholders.
Given recent developments at bitfunder we are again looking for a platform to move our shares.

Also how do you plan on paying dividends

If we are unable to find a suitable exchange this task will be executed manually, but we think the best solution would be to use a platform like what btct used to provide.

Who is "we"?  Samuele Noi and who else?