If you factor in the trustworthiness, reputation, capability of the Labcoin team and their long history of meeting promises, on-time delivery and very accurate projected hashrate, the price should be worth 1 satoshi more.
Fixed that last bit.
Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 162. (Read 1079974 times)
September 27, 2013, 05:37:20 AM
Fixed that last bit.
September 27, 2013, 05:30:07 AM
.05 btc per hour is around 350 Giga hash?
around 300-400GHwhich is 5 avalons = BTC300 of worth a few months ago.
Dividing it by 10 million would give a justified shared price of 0.00003 which is 1/10 of the current market price.
If you factor in the trustworthiness, reputation, capability of the Labcoin team and their long history of meeting promises, on-time delivery and very accurate projected hashrate, the price should be worth 1 satoshi more.
September 27, 2013, 05:28:34 AM
Wild chaos theory:
Burnside shuts down btct after receiving information that Labcoin is indeed a scam. In an attempt to distance himself from the situation (and improve his legal defense) he shuts down btct after finding out.
Burnside shuts down btct after receiving information that Labcoin is indeed a scam. In an attempt to distance himself from the situation (and improve his legal defense) he shuts down btct after finding out.
This is impossible. If labcoin is the only trouble, he'd rather buy all the shares from the investors rather than closing his exchange.
September 27, 2013, 05:27:08 AM
Wild chaos theory:
Burnside shuts down btct after receiving information that Labcoin is indeed a scam. In an attempt to distance himself from the situation (and improve his legal defense) he shuts down btct after finding out.
Burnside shuts down btct after receiving information that Labcoin is indeed a scam. In an attempt to distance himself from the situation (and improve his legal defense) he shuts down btct after finding out.
UNlikely. Whether or not labcoin is a scam changes almost nothing about his liability. Its illegal to sell these shares, even if labcoin were a real enterprise.
I believe the change is between bad and worse. I feel like he might just be pulling out before it's too late - there is still a chance to clean your hands, and walk away from the situation.
September 27, 2013, 05:25:13 AM
.05 btc per hour is around 350 Giga hash?
Good old stable Avalons. You can always rely on them.
September 27, 2013, 05:25:08 AM
It appears a number of people have made unfortunate decisions.
September 27, 2013, 05:21:55 AM
.05 btc per hour is around 350 Giga hash?
September 27, 2013, 05:21:18 AM
Wild chaos theory:
Burnside shuts down btct after receiving information that Labcoin is indeed a scam. In an attempt to distance himself from the situation (and improve his legal defense) he shuts down btct after finding out.
Burnside shuts down btct after receiving information that Labcoin is indeed a scam. In an attempt to distance himself from the situation (and improve his legal defense) he shuts down btct after finding out.
UNlikely. Whether or not labcoin is a scam changes almost nothing about his liability. Its illegal to sell these shares, even if labcoin were a real enterprise.
September 27, 2013, 05:19:33 AM
Wild chaos theory:
Burnside shuts down btct after receiving information that Labcoin is indeed a scam. In an attempt to distance himself from the situation (and improve his legal defense) he shuts down btct after finding out.
Burnside shuts down btct after receiving information that Labcoin is indeed a scam. In an attempt to distance himself from the situation (and improve his legal defense) he shuts down btct after finding out.
September 27, 2013, 05:15:13 AM
If we could find out which fab produced the first batch, it is not so difficult to find the document he signed.
Even if Fabrizio's company placed an order somewhere, what exactly does that prove? How do you prove it has anything to do with this labcoin "IPO"?
Just follow the money. "sam" got it, I dont think he exists, but theswede should know and you can point a legal gun to theswedes forehead because he is just as liable as labcoin under the securities act.
September 27, 2013, 05:13:28 AM
If we could find out which fab produced the first batch, it is not so difficult to find the document he signed.
Even if Fabrizio's company placed an order somewhere, what exactly does that prove? How do you prove it has anything to do with this labcoin "IPO"?
Just follow the money. "sam" got it, I dont think he exists, but theswede should know and you can point a legal gun to theswedes forehead because even being "just a spokesperson" makes him just as liable as labcoin under the securities act. IM pretty sure thats where theswede fucked up, and intended to hide behind "I am just a spokesperson" defense, and blaming the non existent sam. He didnt read the act well enough.
September 27, 2013, 05:12:18 AM
Someone spoke to him apparently in the early days and he said he "signed some documents" but wasn't really involved with the operation.
This is hidden somewhere in the last 800 or so pages.
This is hidden somewhere in the last 800 or so pages.
Without knowing what he signed, its kind of hard to prove he is complicit or liable. But if at least he is aware of "labcoin" then he should be able to point to the right people.
Personally I wouldnt waste my time finding a possibly imagined chinese from ghana ("sam"), Id focus on theswede first. He is (I think?) in the US, legally liable for facilitating and promoting public sales of unregistered securities and should know the identity of the other people behind labcoin if there is anyone else behind it.
Maybe this is a start:
http://www.mingles.com/theswede75/
and this:
https://twitter.com/TheSwede75
(Andrew James @TheSwede75 born in MN, live in the OC and married to Kristi. Long Beach, CA)
Maybe we can ask burnside whether he has more information about TheSwede75 and labcoin. At least something like IP and email address.
I guess burnside will help us since if this thing turns out to be a scam it will make his situation worse.
September 27, 2013, 05:08:58 AM
Someone spoke to him apparently in the early days and he said he "signed some documents" but wasn't really involved with the operation.
This is hidden somewhere in the last 800 or so pages.
This is hidden somewhere in the last 800 or so pages.
Without knowing what he signed, its kind of hard to prove he is complicit or liable. But if at least he is aware of "labcoin" then he should be able to point to the right people.
Personally I wouldnt waste my time finding a possibly imagined chinese from ghana ("sam"), Id focus on theswede first. He is (I think?) in the US, legally liable for facilitating and promoting public sales of unregistered securities and should know the identity of the other people behind labcoin if there is anyone else behind it.
Maybe this is a start:
http://www.mingles.com/theswede75/
and this:
https://twitter.com/TheSwede75
(Andrew James @TheSwede75 born in MN, live in the OC and married to Kristi. Long Beach, CA)
If we could find out which fab produced the first batch, it is not so difficult to find the document he signed.
September 27, 2013, 05:06:49 AM
Someone spoke to him apparently in the early days and he said he "signed some documents" but wasn't really involved with the operation.
This is hidden somewhere in the last 800 or so pages.
This is hidden somewhere in the last 800 or so pages.
Without knowing what he signed, its kind of hard to prove he is complicit or liable. But if at least he is aware of "labcoin" then he should be able to point to the right people.
Personally I wouldnt waste my time finding a possibly imagined chinese from ghana ("sam"), Id focus on theswede first. He is (I think?) in the US, legally liable for facilitating and promoting public sales of unregistered securities and should know the identity of the other people behind labcoin if there is anyone else behind it.
Maybe this is a start:
http://www.mingles.com/theswede75/
and this:
https://twitter.com/TheSwede75
(Andrew James @TheSwede75 born in MN, live in the OC and married to Kristi. Long Beach, CA)
September 27, 2013, 05:05:10 AM
If this is really a scam...does it make sense to contact an international law firm to get help for investors?
We have a lot of contact informations about samuel noi, fabrizio Tatti and Howard Wang and "theSwede"
We have a lot of contact informations about samuel noi, fabrizio Tatti and Howard Wang and "theSwede"
September 27, 2013, 05:01:59 AM
I would actually advice Bitfunder not to accept LC on their exchange unless they can somehow prove their legitimacy. If* Labcoin is a scam it could taint every other asset on the exchange. Unfortunately, when infection sets in a wound the best option is to sever the limp before it poisons the blood for the rest of the body.
September 27, 2013, 05:01:13 AM
no, there could be no small "fab", if it is a fab.
Actually, this part Im willing to believe. Universities can have research fabs. They are not big, dont have large capacity but can produce chips in limited quantities using usually old/obsolete technology. The Howard Wang story producing some 180nm chips at his university is actually quite credible.
Whats less credible is that prior to IPO that was somehow changed to 130nm with 20x better specs while maintaining the same time table.
What entirely not credible is that a 65nm chip could be developed in any reasonable amount of time with the money they raised.
My guess is that Howard Wang really exists, really worked on a 180nm chip. Found some people to help monetize this. Once they realized that a 180nm chip with those specs, even if it worked, wouldnt exactly be a gold mine that would attract enough capital, theswede started making up stuff to make this venture look potentially lucrative.
To expand on my hypothesis; we know the "itec pro" company was founded by Fabrizio Tatti in February. The goal of this company as stated on linkedin is online sales of chinese smartphones and tablets. But soon after Fabrizzio joined Oppo, a Chinese handset manufacturer, its very unlikely they would have allowed him to continue his online shop. Hence the website is defunct, and the company became inactive, if it ever was active.
Howard Wang, "sam" or theswede know Fabrizzio and offered to use his idle shelf company for their bitcoin project in return for some of the profit. Fabrizzio may not know the first thing about bitcoins, but had nothing to lose, so agreed. He is not involved in the activities (in so far there any) of labcoin in any way shape or form. Small wonder he never communicates about it and doesnt even seem to have a forum account here.
Its all conjecture, but it does make a credible story IMO.
If you are an engineer and you sign the quality certificate of a building that later collapses killing dozens of people.. guess what? YOU go to jail.
Fabrizio may be an innocent poor little guy.. but this mess is under his name!!!!
September 27, 2013, 04:59:59 AM
Fabrizio may be an innocent poor little guy.. but this mess is under his name!!!!
Is it? Theswede used his name and his company name, but can you prove Fabrizzio was in any way involved? Did he sign anything?
Someone spoke to him apparently in the early days and he said he "signed some documents" but wasn't really involved with the operation.
This is hidden somewhere in the last 800 or so pages.
Yes, he said his company has many projects and he is working on other projects. Samul Noi is the leader of labcoin project. He knows nothing more than he signed a contact for 1 test chip.
September 27, 2013, 04:59:18 AM
Anyone still holding that wants out? Tons of bids in the 0,0002 range. Now's your chance!
Yeah, there is a lot of support between 0.0001 and 0.0002
September 27, 2013, 04:58:18 AM
no, there could be no small "fab", if it is a fab.
Actually, this part Im willing to believe. Universities can have research fabs. They are not big, dont have large capacity but can produce chips in limited quantities using usually old/obsolete technology. The Howard Wang story producing some 180nm chips at his university is actually quite credible.
Whats less credible is that prior to IPO that was somehow changed to 130nm with 20x better specs while maintaining the same time table.
What entirely not credible is that a 65nm chip could be developed in any reasonable amount of time with the money they raised.
My guess is that Howard Wang really exists, really worked on a 180nm chip. Found some people to help monetize this. Once they realized that a 180nm chip with those specs, even if it worked, wouldnt exactly be a gold mine that would attract enough capital, theswede started making up stuff to make this venture look potentially lucrative.
To expand on my hypothesis; we know the "itec pro" company was founded by Fabrizio Tatti in February. The goal of this company as stated on linkedin is online sales of chinese smartphones and tablets. But soon after Fabrizzio joined Oppo, a Chinese handset manufacturer, its very unlikely they would have allowed him to continue his online shop. Hence the website is defunct, and the company became inactive, if it ever was active.
Howard Wang, "sam" or theswede know Fabrizzio and offered to use his idle shelf company for their bitcoin project in return for some of the profit. Fabrizzio may not know the first thing about bitcoins, but had nothing to lose, so agreed. He is not involved in the activities (in so far there any) of labcoin in any way shape or form. Small wonder he never communicates about it and doesnt even seem to have a forum account here.
Its all conjecture, but it does make a credible story IMO.
Yes, you conjecture make sense. As long as the Fabrizzio does not flee to somewhere cannot be found, we can certainly find out Samul Noi and other guys. The Howard Wang is even easier to found since he is in ITU now.
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