Topic: [CRYPTOSTOCKS] Labcoin Official Thread - Self-Moderated - page 43. (Read 96854 times)

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.

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

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?

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

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.

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 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.

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

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.

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.

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.   

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...

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.

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

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

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

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 

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

Sent the btct.co listing

Have fun Sam

Hey,that's not a Chinese scams!!!!Don't vilify the Chinese .
SAM is an Italian.This is an Italian scams.

Sam was never the sharpest tool in the shed.

This thread was abandoned.