Topic: [CRYPTOSTOCKS] Labcoin Official Thread - Self-Moderated - page 20. (Read 96918 times)

I know it's very late in this whole ordeal, but I can't find anyone else mentioning it in this thread:

ghash.io shows the ongoing hashing of someone that bough GHS on cex.io. https://cex.io/faq - just check the first answer in Mining related questions.

So labcoin just purchased 10,000GHS and made us believe it was their own hardware.
And since today the hashing is 0, probably because it was sold?!

Actually in AM case, there's a board and board members had a skype video meeting with friedcat that time (I've heard that the ID of friedcat or his collaborator was shown during that meeting, but I am not sure) . Therefore, friedcat is apparently not as anonymous as this 'Sam'.

 

The whole operation has been down for hours.  Not that it matters since "Sam" hasn't paid any dividends out in over a week.

You can wonder if it did fail. If your measure of success is alberto's wallet, it did not.

Anyway, my best guess of what happened; howard wang really did have a design for a 180nm chip, it may even have 'taped out' at his university test fab, but it was a crappy design on an obsolete process, and even if they did manufacture some wafers, he chose an incorrect package (perhaps also packaged at the university?).  

Somehow Howard got in touch with Alberto and/or fabrizio who jumped on the opportunity to raise money for a 130 and 65nm variant without knowing a thing about the business and without really caring if it would work or not. Designing and deploying an asic is not a walk in the park, Howard didnt have the required skills, no experience with any process other than the 180nm, so they "hired" theseven, who doesnt possess the needed skills either. Alberto was told they needed a design kit from TSMC to do the physical layout for a more advanced process (130nm). TSMC doesnt just hand those out, they cost money and require signing an NDA by an actual company. Alberto tried using his brother in law's shell company for that, TSMC didnt buy it. Thats probably where they gave up and decided to IPO to get funds,  buy some external hashing power and keep up the charade. Or perhaps that is where Alberto only really got involved, until then it might have been a bit naive but genuine attempt by howard and fabrizio.

In fairness, AM could well have been a scam. The fact Friedcat was anonymous was one of the main reasons I decided not to invest longterm (I did flip some shares for moderate profit).

That said, Friedcat already had a trackrecord on this forum managing other IPOs, his ID was verified on GLSBE,  the businessplan he proposed was completely credible and demonstrated some competence, the amount to be raised was fairly humble. He was pioneering, not playing copycat. I always considered it one of the only bitcoin assets that, although risky, had credible potential.

Soon the police will be asking the questions, and our little boy Sammy won't be able to ignore those. 

Good times.  Good times.

looks like miners 24hr rejected shares cuasing low pay out. i need some 1 to clarify this.

also looks like payment reach the address every 24hr sometimes, other times smaller payment every 12hr.

btw what will havelock do about this, they got lab shares

Not received dividend for almost 10 days.
Is Labcoin already dead?

You forget about next planned move to sell cheaply acquired shares at higher prices after receiving knc batch2 shipment and posting new hashrate + some fake photos of chips hashing

Even NineLives investigators, didn't believe this was a scam by Fabrizio, Alberto, they have seen countless of scam, and everyone who has seen scams before says the same thing, it is to stupid. Having all your personal info out, failing and failing over and over. After countless of episode watching of scams, all scammers have the same thing in common, they show crazy results, even fake ones.

For example, a typical scammer, would of had an auction style ipo, then immidietly rent some 10TH worth of hashrate, watch the price sky rocket, rent out another 20TH watch it sky rocket again meanwhile dumping their remaining 3 million shares. And all of this would of been done with fake identities.

Not do the complete opposite which Labcoin has done, it could clearly be that they just kept having problem with the chips and are just waiting to get them fixed, Howard did work on an actual chip, scammers wouldn't even make someone work on a chip. They would just say yeah we have this company working on, which would be a shell company that they have created, with a working number and all, pretty website.

Again with all those bitcoins they could of spend 100K to make a pretty convincing scam, not the shithole that is and was labcoin, killing their own shareprice.

The problem with "Sam" is trying to look legit as long as possible theory-

He's not.

He's not even paying out dividends any more.  

Step one of attempting to look legit- pay out dividends.

If you're attempting to look legit, you certainly don't make your hashrate public so that people can estimate the payout, see that the money you've transferred out to the payment address is about half of what it should be, and then not even pay that money out anyway.


That's not even attempting to look legit.

people were calling AM scam at the very beginning

Some people were calling this as a scam from the very beginning. Why didn't we listen?

and for all those people who keep asking SAM to post pictures of the hardware I have a simple logic problem for you....


Labcoin in the IPO said they would make money by self mining AND selling their own kit (if I recall correctly)

since they have been mining for near on a month now with their own supposed relatively stable equipment wouldn't it be safe to assume that the equipment is ready for sale?

if the gear is ready for sale then how come nobody has purchased or seen one of these units in the wild?

how come they do not even have a shop or third party vendors lined up?

drum roll please...

and the most logical answer is........

THEY DO NOT EXIST..

you do not need pictures to tell you this... it is elementary my dear watsonians...

unfortunately I cannot participate in the class action because I purchased well after the the price crashed but I do wish the best of luck to those who lost money and still hold shares hoping to get some kind of return from investment.. for what its worth.. I do hope Sam/Fabrizzio is not able to flee china before the authorities get a hold of him... I have a feeling that chinese authorities take fraud a lot more seriously than the italians do.

I think I can answer some of your questions...

firstly there is no way (yet) to move stocks from Cryptostocks to Havelock so there is no way (to my knowledge) that arbitrage can balance out the prices.

I did own some havelock stocks and dumped them all to buy much cheaper cryptostocks ones, however, almost immediately after I dumped the stock began to rise again on havelock.

my theory is that its most likely trade bots attempting to scoop up what they consider cheap shares. unfortunately trade bots cannot read forums so they can only trade on the technicals.

secondly there are people (like me) who are willing to bet that if Sam/Fabrizzio ever gets caught he may be forced to hand back the unspent bitcoins... if that happens that would equate to about 0.0003 BTC per share.

finally... sam/fabrizzio is trying to maintain the illusion of a failed business for as long as possible. This helps to keep the authorities at bay and also gives him a nice way to make money buying back cheap shares using the newly mined money.

most of the leftover IPO money was laundered transferred into a dice gambling site. if he attempts to use that money to buy back shares it gives people an easier way to trace the money back to where it is being hidden. If on the other hand he uses the newly minted money to buy back stocks.. the coins cant be traced back to the original IPO stash and it appears more legitimate (since companies buy back their own stocks all the time)


by keeping his mouth shut and allowing mass hysteria to take hold.. sam/fabrizzio is trying to game the market as much as he can while trying to appear as legit as he possibly can.

hope that helps....

"For the future of trading," you only have to stop handing ur monyz over to lulzy scams & cheerleading said scams to rope in more suckers.
Now you just look like a kid -- who runs away from mom & dad only to run home bawwing as soon as it starts raining.

So buck up, money rebel!  The currency revolution is being podcast in spectacular Technicolor.  Don't make it look derpy!
You just gotta hang on to your dreams!

only 8m+ shares on public trade, his 2m share+ not issued i believe.
cant see how he was dumping on us, wait , maybe he has 1m share within the public. but none the less, volume too low.
he can buy all share now tho, if he trying protect himself.

covering as you say,is meaningless, now,

Well, with $2.5 million in fraud and prosecutors looking to stake out new ground, it might well happen.

For the future of trading, it's got to happen.  People have to know fraud is punished or no new money will come into the system.

They are doing minimal amount of work to cover their intentions. Make you believe and postpone any legal action.
Shares were not locked thus they were trading on them as well.
Photos were not posted thus real chips doesn't exist. Only kncminers.
KNC is giving 10% discount on big orders. (1 free jupiter for every 10 units ordered). Most likely they took it as personal premium for amazing job done. Most likely 8TH/s is just fraction of all miners ordered.
Dividends might have been used to buy back shares from public hands (to decrease number of shareholders taking on legal action). This is good for them cause money for dividends is legitimate and source of origin will be harder to track back to them. Maybe they will try to trade them again when new miners arrive.

hmm, i dont get it or understand.

why labco at havelock around 0.0006?

why some people do buy at labco?, regardless amount.

why that person bought 200k+ at crypto?


when i look at dividend day at 28th oct havelock and 29th crypto then all get messy, does that explain missing dividends, with a possibility labcoin adjusting to how he pays dividend.

becuase havelock has to pay fee every time to withdraw daily, 0.01 fee , could that be a reason?

maybe labcoin accumulating and thinking a way to spare havelock paying fee? maybe instead daily, changing to 1 time every 2 week.?

labcoin wont open his mouth, ofcourse yea.

lol, i still dont get, why he isnt running away with the miners and cash in dividend address? also it seems getting mined btc every like 10hr.

he can divert the assets to his own address, why still not?

why he didnt hurry cash out the btc in dividend wallet, while btc price dropping now.

edit: or he likes griefing people even more, is that why he keep ghash.io and address unchanged? so we may look at it sitting there and get nothing?