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Author Topic: [CRYPTOSTOCKS] Labcoin Official Thread - Self-Moderated  (Read 95991 times)
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ishkur
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October 26, 2013, 03:23:32 AM
 #381

"Here, read 912 pages full of hype and FUD and now please figure out, if Sam is scaming us!" Grin Grin Grin

I'll let them figure it out.  I don't care any more.

If they can find something of use then that's great.


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October 26, 2013, 06:05:20 AM
 #382


Not even the BITCOIN POLICE will help.

Next time listen to me and don't risk more than you can afford to lose gambling on Chinese scams.


Hey man, Sam is not a Chinese. Labcoin scam has nothing to do with Chinese people.
Even labcoin online time or deployment time is not Chinese time.
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October 26, 2013, 09:49:24 AM
 #383

We will have 5 TH/s up and running later today, 8 TH/s online by saturday and will reach 11-12 on tuesday according to our estimates.
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October 26, 2013, 02:55:40 PM
 #384

SFC got back to me finally.

I linked them to the other thread and told them everything that they need to know is in there .
Hopefully they take my advise and get a few bags of popcorn  Grin

I also linked them to Fabbys profiles on FB and LinkedIN.

Sent the btct.co listing

Have fun Sam

Imagine a government agency crawling through that thread... no... sorry... i cant imagine they will do that only because they got a complaint by email. If these agencies would have enough manpower and so...
ishkur
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October 26, 2013, 03:32:56 PM
 #385

SFC got back to me finally.

I linked them to the other thread and told them everything that they need to know is in there .
Hopefully they take my advise and get a few bags of popcorn  Grin

I also linked them to Fabbys profiles on FB and LinkedIN.

Sent the btct.co listing

Have fun Sam

Imagine a government agency crawling through that thread... no... sorry... i cant imagine they will do that only because they got a complaint by email. If these agencies would have enough manpower and so...

There have been a few complaints so far.  Maybe if they look at the btct listing first they can get a sense of what's going on the dig into the thread.

I can easily see a government agency taking the time to go through a thread such as the labcoin one.   

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October 26, 2013, 03:43:30 PM
 #386

SFC got back to me finally.

I linked them to the other thread and told them everything that they need to know is in there .
Hopefully they take my advise and get a few bags of popcorn  Grin

I also linked them to Fabbys profiles on FB and LinkedIN.

Sent the btct.co listing

Have fun Sam

Imagine a government agency crawling through that thread... no... sorry... i cant imagine they will do that only because they got a complaint by email. If these agencies would have enough manpower and so...

You mean like they would never wade through a far larger number of threads related to Pirate's BTCS&T ?
All the SFC or other similar agencies in other countries have to look at is btct.co, and you can bet they will be interested.
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October 26, 2013, 06:22:54 PM
 #387

SFC got back to me finally.

I linked them to the other thread and told them everything that they need to know is in there .
Hopefully they take my advise and get a few bags of popcorn  Grin

I also linked them to Fabbys profiles on FB and LinkedIN.

Sent the btct.co listing

Have fun Sam

Imagine a government agency crawling through that thread... no... sorry... i cant imagine they will do that only because they got a complaint by email. If these agencies would have enough manpower and so...

You mean like they would never wade through a far larger number of threads related to Pirate's BTCS&T ?
All the SFC or other similar agencies in other countries have to look at is btct.co, and you can bet they will be interested.

Pirate was a clear scam. For labcoin its only a couple of people that dont want to wait what happens. Pirate was followed because he scammed people... labcoin would be followed because its unregulated. Scam is not so sure yet. A couple of people only at most went so far to inform agencies. Thats probably something that even for big, normal securities happens. So when they see that divs are paid already and it looks like divs are rising... i doubt they will follow with full force then. At least not until a big amount of shareholders claims scam, no divs appear or similar.

If they only would go behind because its unregulated then we now would have to prepare that all securities are traced and shut down.
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October 26, 2013, 06:37:22 PM
 #388

Pirate was a clear scam. For labcoin its only a couple of people that dont want to wait what happens.

LOL. How many more lies are you going to swallow?

Anyway, Shavers was not only indicted for running a ponzi, but also for selling unregistered securities:

Defendants, directly or indirectly, singly or in concert, have made use of the
means or instruments of transportation or communication in interstate commerce, or the mails, to
offer and sell securities when no registration statements was filed or in effect as to such securities
and when no exemption from registration was applicable.

43. By reason of the foregoing, Defendants have violated and, unless enjoined, will
again violate Sections 5(a) and 5(c) of the Securities Act [15 U.S.C. §§ 77e(a) and 77e(c).]

http://www.sec.gov/litigation/complaints/2013/comp-pr2013-132.pdf


BTW, the two other claims made by the SEC against Shavers would also apply to Labcoin, even if by some miracle it would not be considered a scam:

made untrue statements of material fact, or omitted to state material facts necessary
in order to make statements made, in light of the circumstances under which they were made, not
misleading

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October 26, 2013, 07:37:14 PM
 #389


The annualized dividend remains greater than the share price. 

Couldn't be a clearer sign that the market has no faith at all in Sam's ability to keep Labcoin on track.
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October 26, 2013, 07:51:30 PM
 #390


The annualized dividend remains greater than the share price. 

Couldn't be a clearer sign that the market has no faith at all in Sam's ability to keep Labcoin on track.

The way I see it, there are two ways for Sam to go (assuming he is legit).

1) Provide requested proof(s).. Identification, pictures etc.  IMO this won't happen with all of the pitchforks flying around.
2) Increase hash rate to an appreciable level and continue paying dividends.  Eventually investor confidence will support a higher share price, but in the meantime, investors are limiting exposure to risk via dividend payments received.

Personally, I'm fine with #2.
Bitcycle
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October 26, 2013, 08:08:50 PM
 #391


The annualized dividend remains greater than the share price. 

Couldn't be a clearer sign that the market has no faith at all in Sam's ability to keep Labcoin on track.

The way I see it, there are two ways for Sam to go (assuming he is legit).

1) Provide requested proof(s).. Identification, pictures etc.  IMO this won't happen with all of the pitchforks flying around.
2) Increase hash rate to an appreciable level and continue paying dividends.  Eventually investor confidence will support a higher share price, but in the meantime, investors are limiting exposure to risk via dividend payments received.

Personally, I'm fine with #2.

The problem is that what's really going to happen is that the hashrate isn't going to increase and dividends are going to go down. 

That's what people believe, and that's why the share price will remain low, probably permanently.

Sam should provide pictures of the machines. There is zero risk to him whatsoever in doing so, and in not doing so he's triggered people starting their own investigations.  This is actually much riskier to him than simply providing the proof.  But as I've said, Sam is not the sharpest tool in the shed.

People might still buy in, though, if they really thought the hashrate would increase.  A big portion of the market doesn't really need proof, they just want divs.

The problem people have is that Sam has shown no indications of actual competence, and he's not given any information about the future beyond vague numbers.  When he's given dates for those numbers, he's missed every single one of them. 

When asked if he had a second batch of chips on order, Sam deleted the question rather than answer it.

He's also indicated he "hasn't done the proper calculations", and then, even more incredibly, has made no effort since to correct that oversight.  It's difficult to take him seriously as any sort of actual project manager.

Sam should be able to provide an exact schedule by this point, with dates and numbers of chips deployed, with the corresponding hashrates. 

Then there's phase 2, the 65nm chips.  For reasons which are very unclear, Sam felt the best move was to seriously delay deployment of faster chips by halting development.  I suppose he somehow imagined he had time to spare.

The network has doubled in hashrate in the last couple of weeks.  Labcoin is already not keeping up.  And it has no plan for the future.

There's a reason the price is low, and there's a reason it's going to stay at the bottom. 

This is all aside from questions of fraud, of course.

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October 26, 2013, 08:09:24 PM
 #392

We've finally deployed about 10 TH/s of stable hashing output.

Here is the guest account for http://ghash.io, username : labcoin2 password : 12345



http://labcoin.com - Proprietary ASIC technology
Bitcycle
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October 26, 2013, 08:15:26 PM
 #393

We've finally deployed about 10 TH/s of stable hashing output.

Here is the guest account for http://ghash.io, username : labcoin2 password : 12345




You say stable hashing output.  Are there still issues with stability?

What percentage of the current batch remains to be deployed?

When will the next batch of chips arrive?  How large will that batch be?

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October 26, 2013, 08:19:31 PM
 #394

We've finally deployed about 10 TH/s of stable hashing output.

Here is the guest account for http://ghash.io, username : labcoin2 password : 12345




What is the schedule moving forward? When will you hit 50Th? 100?

Has one of my posts enriched your life? Has it made you feel warm and fuzzy?Tips here! 1KhmwZTDqNDKxm2Fnj9QgnfHgP6g7paqtc
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October 26, 2013, 08:38:28 PM
 #395

Pirate was a clear scam. For labcoin its only a couple of people that dont want to wait what happens.

LOL. How many more lies are you going to swallow?

Anyway, Shavers was not only indicted for running a ponzi, but also for selling unregistered securities:

Defendants, directly or indirectly, singly or in concert, have made use of the
means or instruments of transportation or communication in interstate commerce, or the mails, to
offer and sell securities when no registration statements was filed or in effect as to such securities
and when no exemption from registration was applicable.

43. By reason of the foregoing, Defendants have violated and, unless enjoined, will
again violate Sections 5(a) and 5(c) of the Securities Act [15 U.S.C. §§ 77e(a) and 77e(c).]

http://www.sec.gov/litigation/complaints/2013/comp-pr2013-132.pdf


BTW, the two other claims made by the SEC against Shavers would also apply to Labcoin, even if by some miracle it would not be considered a scam:

made untrue statements of material fact, or omitted to state material facts necessary
in order to make statements made, in light of the circumstances under which they were made, not
misleading



Funny reading that shortly before labcoin stating a success in bringing more hashpower online.

Anyway... you know very well that im sceptical myself. I only think its stupid to involve governments now when labcoin finally is bringing something online. Thats dumb. Because it might mean that even when labcoin now brings more and more TH online it wouldnt matter anymore because some agency now will fight the "unverified security". I think some users simply bought for the actual price and hope to get the remaining bitcoins that labcoin holds back. Seeing the short effect but negate completely the possible chance that he might bring out so much more that it cant be faked anymore.

Whatever... i wrote this many times. If airheads at the end would destroy a real business that only was a bit late and had bad communication then i would connect with labcoin and try to step in personally when he doesnt have bitcoins anymore because he had to pay back. No security needed anymore. A developed and working asic design is very much worth. Most people only dont see it. Comparing it with newer tech from other enduser selling companies. Whatever.

I prefer to wait what labcoin is doing in the next time. Bringing th online or not.

I know that selling unregistered securities was one point against pirate. But that doesnt mean that now all other securities were charged too. It was a secondary point to raise his fine. So the only point government would go after with labcoin would probably be scam. Otherwise we would have to await a complete dying of bitcoin securities soon.
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October 26, 2013, 08:47:55 PM
 #396

We've finally deployed about 10 TH/s of stable hashing output.

Here is the guest account for http://ghash.io, username : labcoin2 password : 12345

Can you please explain what will happen next? Chips in order, deployment dates and so on? Thanks!
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October 26, 2013, 08:56:24 PM
 #397

We've finally deployed about 10 TH/s of stable hashing output.

Here is the guest account for http://ghash.io, username : labcoin2 password : 12345




10,000,000Mh/s / 10,000,000 shares = 1Mh/s/share - If it's stable

EDIT: (more math)

1GH/s = 0.00129 BTC/day at current diff
1MH/s= 0.00000129/day
assuming diff adjustment of 30%/10days: 1year payout for 1MH/s = 0.000043 (Geom series of 70% n=35)
Current Ask ~ 0.0004BTC

Not making any recommendations 1 way or another but theres the math for anyone who want to use it.
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October 26, 2013, 09:15:40 PM
 #398

We want moar! Cheesy

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October 26, 2013, 09:16:21 PM
 #399

We've finally deployed about 10 TH/s of stable hashing output.

Here is the guest account for http://ghash.io, username : labcoin2 password : 12345




10,000,000Mh/s / 10,000,000 shares = 1Mh/s/share - If it's stable

EDIT: (more math)

1GH/s = 0.00129 BTC/day at current diff
1MH/s= 0.00000129/day
assuming diff adjustment of 30%/10days: 1year payout for 1MH/s = 0.000043 (Geom series of 70% n=35)
Current Ask ~ 0.0004BTC

Not making any recommendations 1 way or another but theres the math for anyone who want to use it.

Might be right only in case the same percent of the network can be hold through each diff update.
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October 26, 2013, 09:45:30 PM
 #400

We've finally deployed about 10 TH/s of stable hashing output.

Here is the guest account for http://ghash.io, username : labcoin2 password : 12345




Thank you labcoin... Keep it coming! ;-)
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