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

[jimmothy]

Thank you for posting this!

So right now we are 1/4 -1/8 as powerful as asicminerhttps://docs.google.com/spreadsheet/ccc?key=0AkPdXsQFT-vIdHRVUjQ5Ql9BQWR6OENLMkhyUktUblE#gid=0 .

What would that put Labcoin share prices at if they were valued relative to Asicminer shares?

Ill try to math here even though it is really not reasonable to compare the two (asicminer also has asic sales which add to dividends):

since for AM you need 8 shares to equal 1gh @ 50th/s (400,000 shares) so at 0.5 per share that is about 4 btc per gh/s

with labcoin you need 1000 shares to equal 1gh @ 10th/s (10,000,000 shares) with each share being 0.0003 per share so 0.3 btc per gh/s with labcoin

So theoretically if labcoin was valued at 4 btc per gh/s it would be worth 0.004 btc per share.

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[Ytterbium]

Thank you for posting this!

So right now we are 1/4 -1/8 as powerful as asicminerhttps://docs.google.com/spreadsheet/ccc?key=0AkPdXsQFT-vIdHRVUjQ5Ql9BQWR6OENLMkhyUktUblE#gid=0 .

What would that put Labcoin share prices at if they were valued relative to Asicminer shares?

Ill try to math here even though it is really not reasonable to compare the two (asicminer also has asic sales which add to dividends):

since for AM you need 8 shares to equal 1gh @ 50th/s (400,000 shares) so at 0.5 per share that is about 4 btc per gh/s

with labcoin you need 1000 shares to equal 1gh @ 10th/s (10,000,000 shares) with each share being 0.0003 per share so 0.3 btc per gh/s with labcoin

So theoretically if labcoin was valued at 4 btc per gh/s it would be worth 0.004 btc per share.

Yeah, but ASICMiner is valued based on future expected growth. Supposedly they have a 40nm chip on the way. You can buy pure hashrate on cex.io. at 0.0998 BTC/Gh. If you valued labcoin on pure Gh/s it would only be worth 0.000099. They really do need to hit their target of 50Th/s by the end of the month to justify their price. And realistically, they still need to hit 500TH/s by the end of the year to have any realistic chance of having any value.

The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.

[jimmothy]

Yeah, but ASICMiner is valued based on future expected growth. Supposedly they have a 40nm chip on the way. You can buy pure hashrate on cex.io. at 0.0998 BTC/Gh. If you valued labcoin on pure Gh/s it would only be worth 0.000099. They really do need to hit their target of 50Th/s by the end of the month to justify their price. And realistically, they still need to hit 500TH/s by the end of the year to have any realistic chance of having any value.

The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.

I think the fact that AM has much more money (if labcoin has half of the 7200 btc from IPO) means they will probably be able to put more money in to mining devices but if labcoin truly using home made efficient asics it's possible they grow as well.

[radiumsoup]

Yeah, but ASICMiner is valued based on future expected growth. Supposedly they have a 40nm chip on the way. You can buy pure hashrate on cex.io. at 0.0998 BTC/Gh. If you valued labcoin on pure Gh/s it would only be worth 0.000099. They really do need to hit their target of 50Th/s by the end of the month to justify their price. And realistically, they still need to hit 500TH/s by the end of the year to have any realistic chance of having any value.

The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.

This, exactly this, and many times over.

[Sou]

Yeah, but ASICMiner is valued based on future expected growth. Supposedly they have a 40nm chip on the way. You can buy pure hashrate on cex.io. at 0.0998 BTC/Gh. If you valued labcoin on pure Gh/s it would only be worth 0.000099. They really do need to hit their target of 50Th/s by the end of the month to justify their price. And realistically, they still need to hit 500TH/s by the end of the year to have any realistic chance of having any value.

The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.

This, exactly this, and many times over.

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[canth]

<snip>

The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.

I don't buy into this fully. There are plenty of people that are just stubbornly holding onto their shares - if there weren't we would see plenty more sells at .0002 or .0001.

[radiumsoup]

<snip>

The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.

I don't buy into this fully. There are plenty of people that are just stubbornly holding onto their shares - if there weren't we would see plenty more sells at .0002 or .0001.

they're stubborn either because they've given up hope altogether and have written off their losses, or because they know there's an artificial floor propping the price up for them, and as long as they see bids on the book, they know they have someone else to give their bag to when they get really desperate. (The third alternative is they think Sam's going to pull a rabbit out of his hat in the third act.)

[canth]

<snip>

The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.

I don't buy into this fully. There are plenty of people that are just stubbornly holding onto their shares - if there weren't we would see plenty more sells at .0002 or .0001.

they're stubborn either because they've given up hope altogether and have written off their losses, or because they know there's an artificial floor propping the price up for them, and as long as they see bids on the book, they know they have someone else to give their bag to when they get really desperate. (The third alternative is they think Sam's going to pull a rabbit out of his hat in the third act.)

At this point, if someone has suffered a paper 90% loss, why not hold on and see if a rabbit does indeed pop up?

[radiumsoup]

At this point, if someone has suffered a paper 90% loss, why not hold on and see if a rabbit does indeed pop up?

Because it's foolish.  http://www.fpanet.org/ToolsResources/ArticlesBooksChecklists/Articles/FinancialPlanning/TheFallacyofSunkCosts/

[canth]

At this point, if someone has suffered a paper 90% loss, why not hold on and see if a rabbit does indeed pop up?

Because it's foolish.  http://www.fpanet.org/ToolsResources/ArticlesBooksChecklists/Articles/FinancialPlanning/TheFallacyofSunkCosts/

I hear you. I wouldn't suggest to buy up a bunch of cheap LC shares, but really, if someone bought at .003 then at this point, selling for .0003 isn't going to make a difference...

[salviel]

<snip>

The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.

I don't buy into this fully. There are plenty of people that are just stubbornly holding onto their shares - if there weren't we would see plenty more sells at .0002 or .0001.

they're stubborn either because they've given up hope altogether and have written off their losses, or because they know there's an artificial floor propping the price up for them, and as long as they see bids on the book, they know they have someone else to give their bag to when they get really desperate. (The third alternative is they think Sam's going to pull a rabbit out of his hat in the third act.)

Actually, I'm still holding shares because I am getting an amazing dividend percent after buying dirt cheap when some of my ultra-low bids I placed on btct.co got filled at during the panic sell at the end. Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.

[Puppet]

Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.

So in a few weeks, you will have reaped enough profit from this scam, even though that profit is paid by defrauded IPO investors, that makes you happy and we shouldnt take any action against labcoin until after you got your share of the loot.

[jimmothy]

Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.

So in a few weeks, you will have reaped enough profit from this scam, even though that profit is paid by defrauded IPO investors, that makes you happy and we shouldnt take any action against labcoin until after you got your share of the loot.

How is Labcoin a scam? They are a bitcoin mining company and they are currently mining bitcoins. Think about this, why would a scammer raise 7200 btc in the IPO, pay for some guy to design asics for you who quits, then proceed to continue to get working asics mining and pay out dividends. Where is the scam? What would a scammer have to gain from going through all the trouble of being a legit mining company? A scammer would have took the 7200 btc from the IPO and disappeared.

[Puppet]

How is Labcoin a scam? They are a bitcoin mining company and they are currently mining bitcoins.

They raised money to develop their own asics, not to buy KnC's. Asics that their lead designer said were crap, he never finished the design off, let alone manage a tape out. And yet they showed us some "pictures" and talked stories about stability issues etc. So they are at the very least lying, because these things didnt exist when they made those claims.

Think about this, why would a scammer raise 7200 btc in the IPO, pay for some guy to design asics for you who quits,

They paid Howard 10BTC. Think about that for a second. I dont know how much they paid Theseven, but it must have been their best investment ever, since his association to the project is what lead most to believe this (even if theseven was working in the margins doing HDL work for the IO, never developed an asic, didnt think he was up to the task,..)

then proceed to continue to get working asics mining and pay out dividends. Where is the scam? What would a scammer have to gain from going through all the trouble of being a legit mining company? A scammer would have took the 7200 btc from the IPO and disappeared.

ITs been like that with all of alberto's scams: maintain the illusion its a failed company rather than a money grab. Judging by posts here, it even works. But Alberto has had 6 or 7 such disastrous "failures" in a row now.

[BitCsByBit]

Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.

So in a few weeks, you will have reaped enough profit from this scam, even though that profit is paid by defrauded IPO investors, that makes you happy and we shouldnt take any action against labcoin until after you got your share of the loot.

+1

BTW, they bought BitFurry's from here: http://www.bitfurystrikesback.com/product/400gh-miner-october-2013/

[Puppet]

I'll say it again, people who are still defending Labcoin are scammers too - or accomplices if you will.

Trying to get back the unspent IPO funds is the only way original investors aren't going to lose their shirts.

OH they will still lose their shirts. Perhaps just not their underpants too.

[Ytterbium]

Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.

So in a few weeks, you will have reaped enough profit from this scam, even though that profit is paid by defrauded IPO investors, that makes you happy and we shouldnt take any action against labcoin until after you got your share of the loot.

Who's "we?"  Are you personally going to spend a few $k to fly to Shenzhen and bust some kneecaps just because you care so much about labcoin shareholders?

I'll say it again, people who are still defending Labcoin are scammers too - or accomplices if you will.

Trying to get back the unspent IPO funds is the only way original investors aren't going to lose their shirts.

Well, you've done such a convincing job of illustrating your concern for IPO shareholders.   Are you saying people who bought at 0.001 and sold at 0.00015 should be reimbursed at the expense of people who bought at 0.00015? Or just the people who people who bought at 0.001 and still hold, at the expense of people who bought late?  What about people who bought at 0.002 and hold? What about people who bought at 0.0005?

You actually think something like that is going to happen? Someone is going to sit down and figure out who deserves what based and when they bought and when they sold? If people are going to be reimbursed, it's going to be the current shareholders.

[Lohoris]

Because it's foolish.  http://www.fpanet.org/ToolsResources/ArticlesBooksChecklists/Articles/FinancialPlanning/TheFallacyofSunkCosts/

very good post.

[radiumsoup]

they're stubborn either because they've given up hope altogether and have written off their losses, or because they know there's an artificial floor propping the price up for them, and as long as they see bids on the book, they know they have someone else to give their bag to when they get really desperate. (The third alternative is they think Sam's going to pull a rabbit out of his hat in the third act.)

Actually, I'm still holding shares because I am getting an amazing dividend percent after buying dirt cheap when some of my ultra-low bids I placed on btct.co got filled at during the panic sell at the end. Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.

Relevant part bolded. These dividends cannot be sustained without IMMEDIATE action by Sam to increase hashrate by 30%+ per week.

By the way, (since getting back in at cryptostocks using just a little tip money) I've made over 300% flipping this (which I promptly withdrew to throw at a few more low-hanging AM shares). But no way in hell I'm buying more with the current state of things. Labcoin is so far behind the curve of broken promises, it's laughable.

[pedrog]

they're stubborn either because they've given up hope altogether and have written off their losses, or because they know there's an artificial floor propping the price up for them, and as long as they see bids on the book, they know they have someone else to give their bag to when they get really desperate. (The third alternative is they think Sam's going to pull a rabbit out of his hat in the third act.)

Actually, I'm still holding shares because I am getting an amazing dividend percent after buying dirt cheap when some of my ultra-low bids I placed on btct.co got filled at during the panic sell at the end. Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.

Relevant part bolded. These dividends cannot be sustained without IMMEDIATE action by Sam to increase hashrate by 30%+ per week.

By the way, (since getting back in at cryptostocks using just a little tip money) I've made over 300% flipping this (which I promptly withdrew to throw at a few more low-hanging AM shares). But no way in hell I'm buying more with the current state of things. Labcoin is so far behind the curve of broken promises, it's laughable.

Well, at least for you Labcoin is good business and we're all very happy for you.