Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 18. (Read 1079974 times)
October 28, 2013, 12:00:07 PM
A few weeks ago, I would have agreed. But at this point, the sunk cost fallacy does not apply. Why? Because the fallacy implies you are stuck in a runt, with all previous investment already gone. Here, we still have shares, and today we know that we have been recieving dividends at a steady rate. Sure, there is still doubt surrounding the validity of this project/investment, but until it goes bust/is proven a scam/does not yield dividends, it is not, per definition, sunk cost.
October 28, 2013, 11:52:41 AM
Current output of 1TH=1.29BTC/day
Output of 1TH/s in 10days = 10.29
Geometric sum of 70% of 10.29 for 35 "difficulties" = 42.5 BTC/TH/Year
Annual Daily output of 1MH/s = 0.000001290BTC
Edit: Annual = 0.0000426 BTC
Current value of LC = 0.0003
Hashrate required to repay 0.0003BTC in 1year = 7MH/s/share
10,000,000 shares of Labcoin.
Hashrate required currently for Labcoin to justify 0.0003BTC price with 1 year breakeven=
7MH*10,000,000 = 70TH/s
____________________________
10TH/sec/10,000,000 shares = 1MH/s/share
annual output of 1MH/s = 0.0000426 BTC
breakeven for 1MH/s to pay 0.0003 BTC = 7 Years
____________________________
These are given 100% Mining revenue -> DIVs
Actual payout is "70-80%" to DIVs
remaining 20-30% is retained to pay for hash upgrades
as such "future upgrades" should not be reflected in Book Value as they will be paid out from asset income.
Output of 1TH/s in 10days = 10.29
Geometric sum of 70% of 10.29 for 35 "difficulties" = 42.5 BTC/TH/Year
Edit: Annual = 0.0000426 BTC
Current value of LC = 0.0003
Hashrate required to repay 0.0003BTC in 1year = 7MH/s/share
10,000,000 shares of Labcoin.
Hashrate required currently for Labcoin to justify 0.0003BTC price with 1 year breakeven=
7MH*10,000,000 = 70TH/s
____________________________
10TH/sec/10,000,000 shares = 1MH/s/share
annual output of 1MH/s = 0.0000426 BTC
breakeven for 1MH/s to pay 0.0003 BTC = 7 Years
____________________________
These are given 100% Mining revenue -> DIVs
Actual payout is "70-80%" to DIVs
remaining 20-30% is retained to pay for hash upgrades
as such "future upgrades" should not be reflected in Book Value as they will be paid out from asset income.
October 28, 2013, 11:37:37 AM
At this point, if someone has suffered a paper 90% loss, why not hold on and see if a rabbit does indeed pop up?
Because it's foolish. http://www.fpanet.org/ToolsResources/ArticlesBooksChecklists/Articles/FinancialPlanning/TheFallacyofSunkCosts/I hate reading shi* like this because there is truth to it. Im still mourning the wind down of the stock exchanges and all the BTC loss that came from it.
Cheers...
October 28, 2013, 11:25:38 AM
Well, at least for you Labcoin is good business and we're all very happy for you.
No, trading Labcoin is (was) good business. But that nice return was for a very small investment, unfortunately. 
October 28, 2013, 10:27:46 AM
they're stubborn either because they've given up hope altogether and have written off their losses, or because they know there's an artificial floor propping the price up for them, and as long as they see bids on the book, they know they have someone else to give their bag to when they get really desperate. (The third alternative is they think Sam's going to pull a rabbit out of his hat in the third act.)
Actually, I'm still holding shares because I am getting an amazing dividend percent after buying dirt cheap when some of my ultra-low bids I placed on btct.co got filled at during the panic sell at the end. Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for. By the way, (since getting back in at cryptostocks using just a little tip money) I've made over 300% flipping this (which I promptly withdrew to throw at a few more low-hanging AM shares). But no way in hell I'm buying more with the current state of things. Labcoin is so far behind the curve of broken promises, it's laughable.
Well, at least for you Labcoin is good business and we're all very happy for you.
October 28, 2013, 09:55:55 AM
they're stubborn either because they've given up hope altogether and have written off their losses, or because they know there's an artificial floor propping the price up for them, and as long as they see bids on the book, they know they have someone else to give their bag to when they get really desperate. (The third alternative is they think Sam's going to pull a rabbit out of his hat in the third act.)
Actually, I'm still holding shares because I am getting an amazing dividend percent after buying dirt cheap when some of my ultra-low bids I placed on btct.co got filled at during the panic sell at the end. Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for. By the way, (since getting back in at cryptostocks using just a little tip money) I've made over 300% flipping this (which I promptly withdrew to throw at a few more low-hanging AM shares). But no way in hell I'm buying more with the current state of things. Labcoin is so far behind the curve of broken promises, it's laughable.
October 28, 2013, 08:37:04 AM
October 28, 2013, 08:32:03 AM
Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.
So in a few weeks, you will have reaped enough profit from this scam, even though that profit is paid by defrauded IPO investors, that makes you happy and we shouldnt take any action against labcoin until after you got your share of the loot.
Who's "we?" Are you personally going to spend a few $k to fly to Shenzhen and bust some kneecaps just because you care so much about labcoin shareholders?
I'll say it again, people who are still defending Labcoin are scammers too - or accomplices if you will.
Trying to get back the unspent IPO funds is the only way original investors aren't going to lose their shirts.
Trying to get back the unspent IPO funds is the only way original investors aren't going to lose their shirts.
Well, you've done such a convincing job of illustrating your concern for IPO shareholders. Are you saying people who bought at 0.001 and sold at 0.00015 should be reimbursed at the expense of people who bought at 0.00015? Or just the people who people who bought at 0.001 and still hold, at the expense of people who bought late? What about people who bought at 0.002 and hold? What about people who bought at 0.0005?
You actually think something like that is going to happen? Someone is going to sit down and figure out who deserves what based and when they bought and when they sold? If people are going to be reimbursed, it's going to be the current shareholders.
October 28, 2013, 07:09:12 AM
I'll say it again, people who are still defending Labcoin are scammers too - or accomplices if you will.
Trying to get back the unspent IPO funds is the only way original investors aren't going to lose their shirts.
Trying to get back the unspent IPO funds is the only way original investors aren't going to lose their shirts.
OH they will still lose their shirts. Perhaps just not their underpants too.
October 28, 2013, 03:53:39 AM
Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.
So in a few weeks, you will have reaped enough profit from this scam, even though that profit is paid by defrauded IPO investors, that makes you happy and we shouldnt take any action against labcoin until after you got your share of the loot.
+1
BTW, they bought BitFurry's from here: http://www.bitfurystrikesback.com/product/400gh-miner-october-2013/
October 28, 2013, 03:45:14 AM
How is Labcoin a scam? They are a bitcoin mining company and they are currently mining bitcoins.
They raised money to develop their own asics, not to buy KnC's. Asics that their lead designer said were crap, he never finished the design off, let alone manage a tape out. And yet they showed us some "pictures" and talked stories about stability issues etc. So they are at the very least lying, because these things didnt exist when they made those claims.
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Think about this, why would a scammer raise 7200 btc in the IPO, pay for some guy to design asics for you who quits,
They paid Howard 10BTC. Think about that for a second. I dont know how much they paid Theseven, but it must have been their best investment ever, since his association to the project is what lead most to believe this (even if theseven was working in the margins doing HDL work for the IO, never developed an asic, didnt think he was up to the task,..)
Quote
then proceed to continue to get working asics mining and pay out dividends. Where is the scam? What would a scammer have to gain from going through all the trouble of being a legit mining company? A scammer would have took the 7200 btc from the IPO and disappeared.
ITs been like that with all of alberto's scams: maintain the illusion its a failed company rather than a money grab. Judging by posts here, it even works. But Alberto has had 6 or 7 such disastrous "failures" in a row now.
October 28, 2013, 03:30:47 AM
Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.
So in a few weeks, you will have reaped enough profit from this scam, even though that profit is paid by defrauded IPO investors, that makes you happy and we shouldnt take any action against labcoin until after you got your share of the loot.
How is Labcoin a scam? They are a bitcoin mining company and they are currently mining bitcoins. Think about this, why would a scammer raise 7200 btc in the IPO, pay for some guy to design asics for you who quits, then proceed to continue to get working asics mining and pay out dividends. Where is the scam? What would a scammer have to gain from going through all the trouble of being a legit mining company? A scammer would have took the 7200 btc from the IPO and disappeared.
October 28, 2013, 03:22:33 AM
Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.
So in a few weeks, you will have reaped enough profit from this scam, even though that profit is paid by defrauded IPO investors, that makes you happy and we shouldnt take any action against labcoin until after you got your share of the loot.
October 28, 2013, 03:05:34 AM
The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.
I don't buy into this fully. There are plenty of people that are just stubbornly holding onto their shares - if there weren't we would see plenty more sells at .0002 or .0001.
Actually, I'm still holding shares because I am getting an amazing dividend percent after buying dirt cheap when some of my ultra-low bids I placed on btct.co got filled at during the panic sell at the end. Seriously, a few more weeks and I'll have my entire purchase cost of 2 btc paid for.
October 28, 2013, 01:38:09 AM
At this point, if someone has suffered a paper 90% loss, why not hold on and see if a rabbit does indeed pop up?
Because it's foolish. http://www.fpanet.org/ToolsResources/ArticlesBooksChecklists/Articles/FinancialPlanning/TheFallacyofSunkCosts/I hear you. I wouldn't suggest to buy up a bunch of cheap LC shares, but really, if someone bought at .003 then at this point, selling for .0003 isn't going to make a difference...
October 28, 2013, 01:27:40 AM
At this point, if someone has suffered a paper 90% loss, why not hold on and see if a rabbit does indeed pop up?
Because it's foolish. http://www.fpanet.org/ToolsResources/ArticlesBooksChecklists/Articles/FinancialPlanning/TheFallacyofSunkCosts/ October 28, 2013, 01:12:10 AM
The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.
I don't buy into this fully. There are plenty of people that are just stubbornly holding onto their shares - if there weren't we would see plenty more sells at .0002 or .0001.
At this point, if someone has suffered a paper 90% loss, why not hold on and see if a rabbit does indeed pop up?
October 28, 2013, 01:05:56 AM
The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.
I don't buy into this fully. There are plenty of people that are just stubbornly holding onto their shares - if there weren't we would see plenty more sells at .0002 or .0001.
October 28, 2013, 12:41:18 AM
The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.
I don't buy into this fully. There are plenty of people that are just stubbornly holding onto their shares - if there weren't we would see plenty more sells at .0002 or .0001.
October 28, 2013, 12:21:21 AM
Yeah, but ASICMiner is valued based on future expected growth. Supposedly they have a 40nm chip on the way. You can buy pure hashrate on cex.io. at 0.0998 BTC/Gh. If you valued labcoin on pure Gh/s it would only be worth 0.000099. They really do need to hit their target of 50Th/s by the end of the month to justify their price. And realistically, they still need to hit 500TH/s by the end of the year to have any realistic chance of having any value.
The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.
This, exactly this, and many times over.The only reason it's priced where it is likely due to the inability to set asks and bid prices with more then 4 decimal places on Cryptostocks.
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