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bitmoon
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October 18, 2013, 02:15:14 PM |
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they could have bought 2nd hand chips. in other words a company that dumped a bag of chips which are for testing or half defective but works 80%
you know china, how manufacturing quality is, just go try and buy a power supply 1000w for computer from them for cheap, after couple of weeks it will explode
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Bitcycle
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October 18, 2013, 02:36:50 PM |
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There's no hope of a 65nm chip. Even if there's enough money left, "Sam" is not capable of managing and guiding the process. He has no technical expertise whatsoever and is in completely over his head. He doesn't even understand the questions being asked of him and his responses are pure nonsense.
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Nathaniel B
Newbie
 Offline
Activity: 19
Merit: 0
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October 18, 2013, 03:09:25 PM |
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Sounds like it is time for us to focus on one message: "return the remaining IPO funds now."
We all knew the risks going in and one of those risks was poor management. If labcoin gives a reasonable account for spent coins and returns the rest to shareholders, then this will end as well as it can at this point. If not, I suggest those in China/Hong Kong start the process of reporting to law enforcement as a scam. I think we just need to stay on message: "return the remaining funds immediately, liquidate assets, and close down or prepare to face fraud charges."
They have had plenty of time to explain with evidence, but have chosen not to. All the speculation in this thread both towards worst outcomes and best outcomes will just distract and give labcoin more time to mess around making the situation worse.
I'll start.
Labcoin return the remaining funds immediately and close down or prepare to face fraud charges.
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bitmoon
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October 18, 2013, 03:11:48 PM |
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for a second thought, i think he never even traveled when he said, he is in italy etc. properly buying himself time for bought asics perhaps knc?
reading alphi post, gave me bit more sense thats why.
my big alarm started ringing when he missed the 20TH that wont be missed by 15oct, it feels like sam is different time dimension that is very slow, and he deployed 2TH this week that was promised 2 month ago which he failed
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JohnyBigs
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October 18, 2013, 03:14:47 PM |
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why does the hashrate drop on eligius and spike all the time? I don't mean the short term drops and spikes, im talking about the big ones that last a while.
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bitmoon
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October 18, 2013, 03:20:35 PM |
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why does the hashrate drop on eligius and spike all the time? I don't mean the short term drops and spikes, im talking about the big ones that last a while.
not very sure, say yesterday it was steady at 3TH, next day it started go yoyo, my thinking tells me overheating? automatic shutdown and reboot when it cools? and in cramped room with poor ventilation. meh, i dont know if labcoin did there own software for asic, but how can they make a software, if never tapeout, there was no mention the outsource team did the software. labcoin is still 1 man team, and he aint programmer or electronic engineer. he said it himself in QA |
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JohnyBigs
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October 18, 2013, 03:29:07 PM |
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Thanks didn't know there was a whole new thread lol, at least it's nice seeing the Labcoin name reply lol |
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bitmoon
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October 18, 2013, 03:31:04 PM |
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my god, i lol-ed so hard, love it. it feels like real |
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JohnyBigs
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October 18, 2013, 03:31:46 PM |
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Ohh Sam Coyotee, "Given the sheer amount of false informations posted in the original IPO discussion we are forced to self moderate this thread and lock the original one."
Another missed deadline, if Sam was a scammer he's the worst one I have ever seen in history of man kind lol.
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bitmoon
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October 18, 2013, 03:41:14 PM |
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Thanks didn't know there was a whole new thread lol, at least it's nice seeing the Labcoin name reply lol i have feeling to say something to you johnyBigs. before the whole mess, you was defending labcoin from the fudster and trolls, and i was a noob and with no account in the forum since that time, i liked you. after labcoin turned out to be biggest troll/fud as in breaking too much promise aka lying, your color changed, and you turned against labcoin with big bold letters and red text "scam" etc, i really panic-ed hard, knowing you as supporter before. now you are becoming almost a supporter slowly, maybe you picked cheap shares? i know who cares and so on, but as a noob i find you as two faced, if i compare you with dhenson,he kept his foot strong, never seen him change color, i liked his post from ipo till today. |
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JohnyBigs
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October 18, 2013, 03:59:04 PM |
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Thanks didn't know there was a whole new thread lol, at least it's nice seeing the Labcoin name reply lol i have feeling to say something to you johnyBigs. before the whole mess, you was defending labcoin from the fudster and trolls, and i was a noob and with no account in the forum since that time, i liked you. after labcoin turned out to be biggest troll/fud as in breaking too much promise aka lying, your color changed, and you turned against labcoin with big bold letters and red text "scam" etc, i really panic-ed hard, knowing you as supporter before. now you are becoming almost a supporter slowly, maybe you picked cheap shares? i know who cares and so on, but as a noob i find you as two faced, if i compare you with dhenson,he kept his foot strong, never seen him change color, i liked his post from ipo till today. Honestly Bit, I got so fed up with all the FUD, it was like fighting an uphill battle. Got pissed off at the morons who can't think logically and dump their shares at 60% losses, so I joined the FUD train pretty much out of anger to these idiots, if they are going to sell anyway I might as well speed up the process and double my shares, which I did. I mentioned it before that I was just fudding for that very reason. Should I have done that I guess not, but again the people who sold out were clearly not normal. I still support Labcoin clearly, or else I wouldn't have bought more shares, or I would of sold at .004's and .003's, I think Sam is completely incompetent, so that's why I make fun of him still lol. Other than that I never supported Labcoin 100%, in the beginning I came on here asking serious concerns which I was lynched for, If people actually started investigating in the beginning like i tried but was just abused for it, there wouldn't be this much pain. I only supported Labcoin against the scam accusations, not their utter incompetence. This project can still fail even if they don't have scam motives. I still support them as in they are most likely not a scam, but they are incompetent. |
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bitmoon
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October 18, 2013, 04:04:41 PM |
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Thanks didn't know there was a whole new thread lol, at least it's nice seeing the Labcoin name reply lol i have feeling to say something to you johnyBigs. before the whole mess, you was defending labcoin from the fudster and trolls, and i was a noob and with no account in the forum since that time, i liked you. after labcoin turned out to be biggest troll/fud as in breaking too much promise aka lying, your color changed, and you turned against labcoin with big bold letters and red text "scam" etc, i really panic-ed hard, knowing you as supporter before. now you are becoming almost a supporter slowly, maybe you picked cheap shares? i know who cares and so on, but as a noob i find you as two faced, if i compare you with dhenson,he kept his foot strong, never seen him change color, i liked his post from ipo till today. Honestly Bit, I got so fed up with all the FUD, it was like fighting an uphill battle. Got pissed off at the morons who can't think logically and dump their shares at 60% losses, so I joined the FUD train pretty much out of anger to these idiots, if they are going to sell anyway I might as well speed up the process and double my shares, which I did. I mentioned it before that I was just fudding for that very reason. Should I have done that I guess not, but again the people who sold out were clearly not normal. I still support Labcoin clearly, or else I wouldn't have bought more shares, or I would of sold at .004's and .003's, I think Sam is completely incompetent, so that's why I make fun of him still lol. Other than that I never supported Labcoin 100%, in the beginning I came on here asking serious concerns which I was lynched for, If people actually started investigating in the beginning like i tried but was just abused for it, there wouldn't be this much pain. I only supported Labcoin against the scam accusations, not their utter incompetence. This project can still fail even if they don't have scam motives. I still support them as in they are most likely not a scam, but they are incompetent. fair enough, arent you concerned that he lied about the 20th that wont be missed? |
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bitmoon
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October 18, 2013, 04:12:30 PM |
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btw looks like theswede is gone for bit long now, did labcoin fired him? since last post swede said that he was disappointed by sam/fabrizio.
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Puppet
Legendary
Offline
Activity: 980
Merit: 1040
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October 18, 2013, 04:18:03 PM
Last edit: October 19, 2013, 09:19:27 AM by Puppet |
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I only supported Labcoin against the scam accusations, not their utter incompetence. This project can still fail even if they don't have scam motives. I still support them as in they are most likely not a scam, but they are incompetent.
When it comes to bitcoin securities (an oxymoron if there ever was one), "never attribute to stupidity that which is adequately explained by malice". One failure, I might mistake intention. But after: -Wozad ( http://www.micro-funding.com/index.php?action=showstartup&startups_id=19) -zenpad scam ( http://www.reddit.com/r/IAmA/comments/kg4ch/im_the_guy_who_launched_an_highly_overhyped/) -Kronos.io scam ( http://www.reddit.com/r/Bitcoin/comments/yb89v/bitdaytradecom_operator_has_already_lost_4000btc/) -bitscalper.com scam -Bitdaytrade scam -Labcoin scam (Im ignoring some fake watch "business"), all of these scams are still called "failures due to incompetence" by some, do you really think Alberto is just the worst CEO in history, or a better scammer than people give him credit for? |
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JohnyBigs
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October 18, 2013, 04:20:56 PM |
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btw looks like theswede is gone for bit long now, did labcoin fired him? since last post swede said that he was disappointed by sam/fabrizio.
no idea what happened to the swede he was fairly useless anyway, since he could never get a hold of sam lol. No I'm not concerned about the missed 20TH, as if you haven't figured out already Sam will miss every single deadline. We have 3TH up and more coming, I'll be concerned in a month from now if we still don't have 20TH, or if new hash rate is not added weekly. Until then as long as hashrate is added every week everything is fine. We have to understand that Sam sucks at communicating, but if he is actually considering leaving his regular job and doing this full time, it must mean things are starting to take shape and look good. Since this whole time he was still working, and the reason why someone doesn't leave is he doesn't think the prospects are that good. The fact that he is considering leaving shows it is a very good sign. Anyway back to the other thread where Sam responds lol |
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bitmoon
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October 18, 2013, 04:25:23 PM |
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as a noob i learned alot, how labcoin conducted, i only stayed becuase i was attached to theseven, or i wouldnt have givin 2nd thought.
lol it turned out a complete shambles, theseven and howard very very late to respond, specially howard wouldnt open his mouth from his own will, it took shareholders to find him and make him spit out some words.
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VolanicEruptor
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October 18, 2013, 04:26:06 PM |
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If I were a scammer, this is how I would have done it:
After share price deteriorates to 20% of the IPO price I would secretly buyback most of the shares over a long period of time. This way I would "legitimately" hold all the funds plus most of the dividends would go to me anyways, as I hold most of the public shares as well. To keep the few investors happy who decided to hang on, I would divert 20% of the IPO funds to give them a 100% ROI. Everybody (mostly me) would profit from the shareholders who sold below IPO, and nobody would be coming after me because my company looks completely legit with high paying dividends.
Sam/Fabrizio is a shitty scammer, and not very good at this. He has taken the route of diverting IPO funds to a Just-dice account. He's an idiot and he will get caught..
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JohnyBigs
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October 18, 2013, 04:27:46 PM |
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I only supported Labcoin against the scam accusations, not their utter incompetence. This project can still fail even if they don't have scam motives. I still support them as in they are most likely not a scam, but they are incompetent.
When it comes to bitcoin securities (an oxymoron if there ever was one), "never attribute to stupidity that which is adequately explained by malice". One failure, I might mistake intention. But after: -zenpad scam ( http://www.reddit.com/r/IAmA/comments/kg4ch/im_the_guy_who_launched_an_highly_overhyped/) -Kronos.io scam ( http://www.reddit.com/r/Bitcoin/comments/yb89v/bitdaytradecom_operator_has_already_lost_4000btc/) -bitscalper.com scam -Bitdaytrade scam -Labcoin scam (Im ignoring some fake watch "business"), all of these scams are still called "failures due to incompetence" by some, do you really think Alberto is just the worst CEO in history, or a better scammer than people give him credit for? Worst CEO, yes he is such a genius scammer. Because he did the following to prove he's genius scam abilities. 1. Auction style IPO raise 3-4X more. 2. Buy 3rd party hardware, which 2TH can easily be acquired in the 3 month period, since they already had 3 avalons anyway. 3. Put up 2TH ahead of schedule, watch price skyrocket, sell remaining shares, and 4. Disappear That is a good scammer, not have an honest IPO, have zero hashing and miss deadlines, and stick around for a year lol. Uhh Zenpad failed as a business, but you label it scam. I guess every business that truly fails is a scam. Guys Palm the creator of the first smartphones is a scam because they went bankrupt and failed. Blackberry is a scam because they are bankrupt and about to fail. Excellent point puppet, the definition of scam can apply to you, as you make failure statements. |
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Puppet
Legendary
Offline
Activity: 980
Merit: 1040
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October 18, 2013, 04:30:22 PM |
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as a noob i learned alot, how labcoin conducted, i only stayed becuase i was attached to theseven, or i wouldnt have givin 2nd thought.
I never understood this reliance on theseven. I mean, he seems like a nice enough guy, and probably knows his stuff, but his stuff isnt designing asics. By his own admission he never designed one, and he isnt at all confident in his own abilities to do it properly, if at all. If theseven was the reason for investing in labcoin.. how does that even make sense? |
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