[CRYPTOSTOCKS] Labcoin Official Thread - Self-Moderated

[TMAN]

Sam, when can we expect to see some management accounts? Also will you be updating us on the work that the outsourcers have completed to stablise the chips?

Would you please clarify what you do mean with "management accounts"?
I've already stated that outsourcers have worked out a new board design and powerful cooling solution.

Management accounts are a simple breakdown of how the company finances look. IE how much has been spent and how many coins are still in the business, this is something any small business should keep records of. While I understand you won't want to release them publicly will you show some basic accounting to a trusted member?

[ishkur]

Labcoin,

How soon is trading expected to begin?

Probably a few hours, we're waiting for cryptostock response.

You should probably wait 24 hours so people can get everything set up.

I think you have to credit the shares because this process seems a bit different from how it was with petamine

[Squirrel Dearing]

Just wondering. It looks like when you add to the total hashing there is a drastic dip for a little bit.. I'm guessing you are re-arranging, etc? If so I'm guessing we'll see more than 3 TH shortly...

[pedrog]

Labcoin,

How soon is trading expected to begin?

Probably a few hours, we're waiting for cryptostock response.

You should probably wait 24 hours so people can get everything set up.

I think you have to credit the shares because this process seems a bit different from how it was with petamine

Got my account and all shares credited, just had to reset password, everything went smooth, at least for me.

[Bitoy]

Got my labcoin shares  at crypto stocks. Let the trading begin tomorrow

[UnconfirmedTransaction]

Does Cryptostocks not use Google 2FA? 

[labcoin]

Does Cryptostocks not use Google 2FA? 

Yubikey only supported at the moment.

[pedrog]

Does Cryptostocks not use Google 2FA? 

It has Yubikey.

[labcoin]

Just wondering. It looks like when you add to the total hashing there is a drastic dip for a little bit.. I'm guessing you are re-arranging, etc? If so I'm guessing we'll see more than 3 TH shortly...

Correct. We are currently bringing up more hardware.

[helloge]

labcoin, please check and make exact time of the trading opening ? then we can make prepare , or we will sleep soon.

[Squirrel Dearing]

Correct. We are currently bringing up more hardware.

Awesome, thanks for the reply!

[ferskvare]

I like this thread. And thanks for the info, Labcoin! Will be exciting to follow the development

[TMAN]

Sam.

I am interested to know about financials - what information are you willing to disclose?  also. -How many of the 20,000 chips in hand still remain to be deployed?

and can we have some "rough" dates & numbers around increase in the hash rate?

thanks

[S M I L Y]

a few questions for you Labcoin

• How many of the 20,000 chips in hand still remain to be deployed?
• On what date will all chips in hand be deployed?
• What are the approximate running costs, per board or per terahash, of outsourcing and hosting (electricity, etc.)?
• Are the current chips profitable right now at the current difficulty? If so, what is the current profit margin?
• What is the status of the next batch of chips? (the 130nm ones promised to use a thermally superior package)
• What is the status of the 65nm design? If it's still on hold, do you have anyone under contract to complete the design?
• Have you secured exclusive access to the bitcoin wallet for IPO funds yet from Fabrizio? (If so, what address?)
• When will you be in Shenzen next?
• The network difficulty has risen 40% in the last few days, and is expected to rise sharply again in less than 12 days. Can you achieve 1% of global hashrate before the next difficulty change, and can you maintain that rate in the future?
• There have been a number of well-funded competing ASIC designers now producing real hardware, and difficulty is expected to continue rising at record high levels for the foreseeable future. At what difficulty will the existing Labcoin chips cease to be profitable given the known power and hosting costs?

Credit to radiumsoup for the list of questions.

[SebastianJu]

I think its a good sign that you are so active here now Sam. Communication is key.

Did you notice that the hashing is back to 0.6Th from previously 3TH?

[labcoin]

Q:How many of the 20,000 chips in hand still remain to be deployed?
A:More than 60%
Q:On what date will all chips in hand be deployed?
A:To be determined
Q:What are the approximate running costs, per board or per terahash, of outsourcing and hosting (electricity, etc.)?
A:Did not run proper calculations yet
Q:Are the current chips profitable right now at the current difficulty? If so, what is the current profit margin?
A:Yes they are.
Q:What is the status of the next batch of chips? (the 130nm ones promised to use a thermally superior package)
A:We are considering a next batch.
Q:What is the status of the 65nm design? If it's still on hold, do you have anyone under contract to complete the design?
A:We are evaluating the candidates for this task.
Q:Have you secured exclusive access to the bitcoin wallet for IPO funds yet from Fabrizio? (If so, what address?)
A:Yes, address will be disclosed later
Q:When will you be in Shenzen next?
A:End of October.
Q:The network difficulty has risen 40% in the last few days, and is expected to rise sharply again in less than 12 days. Can you achieve 1% of global hashrate before the next difficulty change, and can you maintain that rate in the future?
A:Did not run proper calculations yet
Q:There have been a number of well-funded competing ASIC designers now producing real hardware, and difficulty is expected to continue rising at record high levels for the foreseeable future. At what difficulty will the existing Labcoin chips cease to be profitable given the known power and hosting costs?
A:Did not run proper calculations yet

[TMAN]

Sam,

thanks for the answers so far, but.. Funds - would you be willing to show someone here how many of the IPO coins are still in labcoin's hands?

also - once we are hashing @ a serious rate - will you give up your "day job" and focus on this project, if that is a yes - what % of the network will labcoin need to achieve to make this financially viable for you?

[afrotec]

Sam, can you provide any response to the Just-Dice deposits referenced by Dooglas?

https://bitcointalk.org/index.php?topic=263445.msg3357150#msg3357150

[labcoin]

Sam, can you provide any response to the Just-Dice deposits referenced by Dooglas?

https://bitcointalk.org/index.php?topic=263445.msg3357150#msg3357150

There's a lot of confusion, we don't control those addresses. Keep the conversation relevant. Thanks

[labcoin]

Sam,

thanks for the answers so far, but.. Funds - would you be willing to show someone here how many of the IPO coins are still in labcoin's hands?

also - once we are hashing @ a serious rate - will you give up your "day job" and focus on this project, if that is a yes - what % of the network will labcoin need to achieve to make this financially viable for you?

Financial statements will be released soon. I'm already considering quitting my day activities.