[CRYPTOSTOCKS] Labcoin Official Thread - Self-Moderated - page 39.

JohnyBigs

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Quote from: AtlasONo on October 29, 2013, 02:29:06 PM

I am working to deploy 100th of legal power against Labcoin by December 31st of this year.

To contribute to this effort and to get inside information about these legal proceedings please donate to: 1PK6Y6L8yPrR8v2Jo6fZxudG5fpEwiXitH

I hope by legal powers you mean HK police. As if you decide to sue them, then good luck getting anything back as they will waste whatever is left defending themselves, then everybody loses.

AtlasONo

hero member

Activity: 551

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I am working to deploy 100th of legal power against Labcoin by December 31st of this year.

To contribute to this effort and to get inside information about these legal proceedings please donate to: 1PK6Y6L8yPrR8v2Jo6fZxudG5fpEwiXitH

E.Sam

sr. member

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Quote from: hobbymd on October 29, 2013, 12:54:08 PM

I would rather see sammy in jail than get my money back or any worthless divs. Can't wait to the day I hear the dreaded pirate sammy was picked up by authorities in HK and is now serving a jail sentence Grin

I hate to say this but +1

hobbymd

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Activity: 259

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I would rather see sammy in jail than get my money back or any worthless divs. Can't wait to the day I hear the dreaded pirate sammy was picked up by authorities in HK and is now serving a jail sentence Grin

Bitcycle

sr. member

Activity: 420

Merit: 250

Well Sammy, it's past noon on 30 October, so let's do some final judging, what do you say?

So far as you claim, you've spent over 3500 btc. That's a good chunk of money. We don't know where it went, not one satoshi of it, because you haven't told us.

We know what it's gotten us. At peak it got us about 9.2 th of hashing. Not 10, as has been claimed, but 9.2, Not the 20 you promised us by this date, but 9.2. 9.2 is less than half of 20, Sammy, if you didn't notice. What happened to the rest of it? Why did you fail?

Of course, we don't even have 9.2 th now. The rate is not only *not* increasing, it's going down. What's up with that, Sammy? Any explanation?

So you claim to have spent 3500 btc on 9.2 th. If that was true, you're the worst businessman in bitcoin history.

But I don''t know that we should believe it. We have no evidence that's where the money went.

I'm thinking our 'final judgement' might be that we have someone look into it. Maybe the authorities, since you're not forthcoming.

What do you think, Sammy? Does your story even make sense to you?

radiumsoup

sr. member

Activity: 356

Merit: 255

Quote from: talnted on October 29, 2013, 10:55:34 AM

Creating an account on Crypto stocks does not seem to work...

It might be easier to just go ahead and list a security there. They don't even require you to verify your email address.

talnted

full member

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www.bitcoingem.com

Creating an account on Crypto stocks does not seem to work...

SebastianJu

legendary

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Legendary Escrow Service - Tip Jar in Profile

Quote from: JohnyBigs on October 29, 2013, 01:58:52 AM

At these prices Return on Investment is 3-6 months at current hash-rate. Are you guys seriously complaining about this? Let me guess you want returns of 2 weeks? My some people sure are greedy lol.

Your assumption only would be right if the diff wouldnt grow anymore from now on. Use: http://mining.thegenesisblock.com/

alphaking

member

Activity: 98

Merit: 10

Quote from: Alphi on October 29, 2013, 07:54:04 AM

Quote from: JohnyBigs on October 29, 2013, 01:58:52 AM

At these prices Return on Investment is 3-6 months at current hash-rate. Are you guys seriously complaining about this? Let me guess you want returns of 2 weeks? My some people sure are greedy lol.

do you not understand that at the current hash rate.. the divs will halve every month?... and therefore in order to get a ROI in 3-6 months the hash rate needs to double EVERY month...

I think some people really struggle with the idea of compound growth..

allow me to spell it out for those who cant quite grasp the concept..

10TH deployed this month, 20TH next month, 40TH the month after just to keep the dividends stable.

so 70TH by chistmas and then another 70TH by the end of january... now do you see the problem?

sure the bitcoin network total hash rate growth has to slow down at some point but as yet there is absolutely no sign of that happening any time soon...

I theorise that we will only see a significant drop in hash rate growth when we finally reach the mass saturation stage of 22nm or 14nm ASICS.. in other words.. when we get to a point where it becomes cost prohibitive to produce smaller nm ASICS then this madness of doubling the difficulty every month or so will end and we should move to a growth pace similar to moors law (ie a doubling every 12 to 18 months)

Precisely, the hash rate now is ~9TH. And it keeps decreasing.
No more deployment. The deployed chips may burn out some day.

Alphi

hero member

Activity: 798

Merit: 1000

Quote from: JohnyBigs on October 29, 2013, 01:58:52 AM

At these prices Return on Investment is 3-6 months at current hash-rate. Are you guys seriously complaining about this? Let me guess you want returns of 2 weeks? My some people sure are greedy lol.

do you not understand that at the current hash rate.. the divs will halve every month?... and therefore in order to get a ROI in 3-6 months the hash rate needs to double EVERY month...

I think some people really struggle with the idea of compound growth..

allow me to spell it out for those who cant quite grasp the concept..

10TH deployed this month, 20TH next month, 40TH the month after just to keep the dividends stable.

so 70TH by chistmas and then another 70TH by the end of january... now do you see the problem?

sure the bitcoin network total hash rate growth has to slow down at some point but as yet there is absolutely no sign of that happening any time soon...

I theorise that we will only see a significant drop in hash rate growth when we finally reach the mass saturation stage of 22nm or 14nm ASICS.. in other words.. when we get to a point where it becomes cost prohibitive to produce smaller nm ASICS then this madness of doubling the difficulty every month or so will end and we should move to a growth pace similar to moors law (ie a doubling every 12 to 18 months)

JohnyBigs

sr. member

Activity: 560

Merit: 250

At these prices Return on Investment is 3-6 months at current hash-rate. Are you guys seriously complaining about this? Let me guess you want returns of 2 weeks? My some people sure are greedy lol.

Bitcycle

sr. member

Activity: 420

Merit: 250

Price is slowly drifting down despite dividends. The current hashrate isn't enough, and with no clear plans for the future, even the people who stuck with it this long want out.

What happened to those additional 100,000 chips claimed he ordered? Will more hashing be deployed? When? The rate hasn't increased since the guest account was posted. why not? What happened to the claim of adding hashing daily?

You'd think Sam would care, he's making thousands a week off his share of the dividends. Not that he's earned it.

Quote from: labcoin on September 13, 2013, 10:13:43 PM

We do believe in what we are doing and we will continue with the usual energy and dedication.
Again, advice for those who are holding is to wait until 30/10/2013 to take any final decision, those interested in acquiring
shares should just take advantage of the current cheap prices.

Getting close to final decision time, Sammy!

What do you think we should decide, finally?

Ytterbium

full member

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Quote from: well.attenuated on October 28, 2013, 12:15:57 PM

Labcoin is still valued at a large premium for the mining sector: P/B = 7

https://bitcointalksearch.org/topic/m.3428138

If they can actually bring 100TH (at least 70TH) online within this difficulty, they will bring book value up and could hold their current share price, otherwise they may never catch up and we could move to 0.0000X territory.

Except for the fact that's not actually possible on cryptostocks.

tinyfox266

member

Activity: 67

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In CRYPTOSTOCKS, we pay 0.01BTC for each withdraw, but it pays no transaction fee which causes the delay of the confirmation. This is really really terrible!

well.attenuated

newbie

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Labcoin is still valued at a large premium for the mining sector: P/B = 7

https://bitcointalksearch.org/topic/m.3428138

If they can actually bring 100TH (at least 70TH) online within this difficulty, they will bring book value up and could hold their current share price, otherwise they may never catch up and we could move to 0.0000X territory.

Ytterbium

full member

Activity: 238

Merit: 100

Quote from: BitThink on October 28, 2013, 11:21:26 AM

Yes, you are right. The hashing rate will stop at some point, but most likely not just a couple of months away. Even if we assume it is only 6 months later, it means dividend will becomes 1/64 of current value, or they have to increase the hashing rate to 640T to keep the current dividend. To me, none of these assumptions is realistic. Difficulty will not stop increasing after 6 months, and labcoin hashing rate will not exceed 50 TH in 6 months, because that's all they can buy with the IPO money.

There announced plan was 500Th/s. Given the price increase in BTC, the 3000(?) BTC they supposedly have left are worth something like $540,000. If he could get the marginal cost to $1.08/Gh/s it's doable. Of course, that would require he had some sort of competence.

It's not out of the question given the current funding if he can get his act together.

BitThink

legendary

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Yes, you are right. The hashing rate will stop at some point, but most likely not just a couple of months away. Even if we assume it is only 6 months later, it means dividend will becomes 1/64 of current value, or they have to increase the hashing rate to 640T to keep the current dividend. To me, none of these assumptions is realistic. Difficulty will not stop increasing after 6 months, and labcoin hashing rate will not exceed 50 TH in 6 months, because that's all they can buy with the IPO money.

Ytterbium

full member

Activity: 238

Merit: 100

Quote from: BitThink on October 28, 2013, 04:52:16 AM

According to the current difficulty increase rate, to keep the same proportion (or dividend), it's not just adding 'some' hash rate. The hash rate has to be increase more than 30% every 10 days, and more than doubled per month. No company on earth can achieve this objective for one year. So 0.0005 - 0.0006 is definitely not the right price, unless you believe the network hashing rate will stop increasing exponentially in a couple of months.

If "no company on earth can achieve this objective" then actually the difficulty cannot continue to increase at this rate. Eventually every mining op will hit a wall, and what happens then is... the difficulty stops increasing at that rate.

lzr1900

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Merit: 250

Quote from: E.Sam on October 28, 2013, 10:03:08 AM

Hi Sam,

Now that the first batch has been fully deployed, can you give us a date for the second batch and what hashrate to expect?

Cheers

+1

E.Sam

sr. member

Activity: 393

Merit: 250

Hi Sam,

Now that the first batch has been fully deployed, can you give us a date for the second batch and what hashrate to expect?

Cheers

Topic: [CRYPTOSTOCKS] Labcoin Official Thread - Self-Moderated - page 39. (Read 96854 times)