Yes, what you said make sense. However, one thing is that this IPO has a company and a CEO, with his name listed.
And has anyone been in contact with him? I could make an IPO and list Bill Gates as chairman.
As for the current share price, I have to say, if anything its still rather high. Am I wrong saying it IPO'd at 0.001 and its now still about half of that?
If even labcoin is legit, its clear they will be unable to meet the expectations set forth at ipo. But the current price only makes sense to me if people still believe their chip not only exists, but will start hashing fairly soon with a relatively small risk this is going absolutely nowhere. IOW, Im amazed its holding up so well and equally amazed how most of you seem to think this price is low. Facebook value dropped about as much after the IPO, no one thought FB was a scam.
If don't see anything worse now than at the time of the IPO you should probably try looking. The company has failed to deliver on any of its claims. Currently, there are two likely possibilities: 1) LC did actually receive their first batch of chips, their performance is about 10% of the rate LC advertised, and there are additional technical issues with the chips that prevent them from hashing steadily.
2) LC is a total scam, rather than just a completely incompetent company.
Yes, their first batch of chips did not work well. According to the irc chat of theSeven, however, the first batch was actually build by sneaking to the small university fab. It is possible the problem was caused by the poor product quality there. They are waiting for their second batch, and I guess they are still on the way.
So why don't they come here and say that? Why do they make us find TheSeven in an IRC chat?
Just remember making up all these things do not benefit them at all.
Currently, I think the share price and the emotion of the shareholders are the least important things for them to care about. Most likely, 1) they are busy in preparing the deploying the second batch. 2) they are still negotiating with Ukyo about the re-listing. Even 2) is not so important in current stage.
They only care about the hashing, since that's the only one brings them cash. However, it seems they can do nothing to improve their first-batch chips. All their hopes are now on the second batch.
