Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 268. (Read 1079974 times)

Intradesting. Plot thickens

I guess no more drama for a while. They seem to be hashing stably at 400Gh/s

Since ASICMiner is doing 33.59 TH/s, and ASICMiner's 400k shares are 1.8 at the moment, that means ASICMiner is worth 720,000 BTC.

Labcoin hashing 1/84th as quickly, giving it an "ASICMiner equivalent valuation" of 8,571 BTC, or a per-share value of 0.00085.

I'm obviously not saying they're equivalent by any means, just pointing out the price you'd currently pay for shares that would get the same dividends as ASICMiner, not counting ASICMiner hardware sales.

If they can get it up to 706Gh/s they could justify their current 0.0015Btc price, and would need 941Gh/s to justify a 0.002BTC price.

It's about that.  My math is based on my one B2 3-module avalon pulling down 0.33Btc/24h on BTCGuild, using the formula (BTC/h)/(0.33_BTC/day/24_h/day/82_Gh/s)

The "Correct" way to do it would be to look at the BTCGuild PPS rate of 0.0000002053209458 BTC/share, calculate the number of shares per hour, multiply by 2³² =~ 4.2 billion * 3600 second/hour to get the actual nonce rate, but... whatever. It's all going to be pretty inexact anyway.

Ukyo as my statement in the BTCT thread suggests I agree mostly that it should have been handled differently, though there are a few things to add:

Your statements mostly reflects your point of view as a shareholder that perceived a subjective loss of value. The terms of service of BTCT are pretty clear on contract breaches for securities:


I'm not sure, if you like to turn this into a discussion about if and what points of Labcoin's contract were breached and if burnside's reaction by posting a warning instead of freezing or delisting Labcoin was congruent with his own terms of service, but the baseline is pretty much this: what he did was more or less within his possible options of what he might do as an administator of BTCT and users should have been aware of this.

From a traders perspective there are always two sides: the ones who are buying and the ones who are selling. You can't favor one side by saying "it's unfair". Unfair to whom?

My personal opinion about Labcoin is mixed and I love to speculate on it as well as every rally or good news provided by Labcoin, but I wouldn't advice anyone to buy Labcoin shares, because I see this as a great and well managed company at the moment. I'm rather in favor of overdoing the "investor protecting" part to minimize that ratio of "people that are getting screwed" to those who are very well aware of the risks they are taking and missteps done by Labcoin.

I hope this warning is a wakeup-call for Labcoin and they improve on what they are doing, so that everyone will profit here and not only a fraction.

Edit: Meta: Please don't get me wrong, I'm also in favor of more warnings on BTCT in general (though not with any additional regulation or arbitrariness as Ukyo has lined out), because the risk of failure from the issuer is not the only ongoing risk, but also the rising level of attempted manipulation on the forums (both from bulls and bears) and related areas is alarming. Just to recap the last 20 hours: we had one guy saying he is Labcoin's new PR guy and he was posting pictures of hardware and only a few hours later a fake TheSwede75 appeared on IRC who has now registred this nickname on freenode and who successfuly made TheSeven believe it's actually him and possibly extracted valuable information based on that. And let's not forget that the topic of the last several pages is a discussion about "are the payments sent to Labcoin's Bitcoin address really from Labcoin or not".

So it's 0.2 BTC every 3 hours. 1.6BTC a day. Around 1083 * 1.6 / 3600 = 0.48 TH.

That comes out to 397Gh/s according to my calculations, not counting whatever extra is still in the account over 0.2 (which also would have been there before)

Time              Payment           Δt     BTC/h       Gh/s estimate
9/18/2013 23:13   3.26386497         
9/19/2013  5:04   0.12772021       5.86   0.021798358  129.9974778
9/19/2013  6:02   0.1198282        0.97   0.123216658  734.8193429
9/19/2013  7:02   0.11047558       1.00   0.11047558   658.8361861
9/19/2013 17:17   0.37057639      10.24   0.03619401   215.8479125
9/20/2013 14:17   0.53291462      21.00   0.025376215  151.3345206
9/20/2013 17:47   0.10686873       3.50   0.030533923  182.0932127
9/20/2013 23:17   0.2070555        5.50   0.037646455  224.5097653
9/21/2013  2:07   0.20000000       2.84   0.070436314  420.0565625
9/21/2013  5:07   0.20000000       3.00   0.066709905  397.8336127


Looks like they're doing a standard 0.2 minimum payout.

Wooo Hoo.

Exactly. Second this.

They've put on a motion and get approved by most investers. Moreover, it is different from lying with public news.

Another .2 BTC deposited.

I would go grab some popcorn but I can't afford popcorn.   

This is true.  Any angst directed at Burnside is misdirected.

The fault here lies entirely with Labcoin.

If they were forthcoming, none of this would even exist as an issue.

Its still Today depending how West in the world you are.

BTW weren't we supposed to get an update today from Sam?

You guys sound like you need a heads up more than anybody..

No one has been able to respond to why they care that the warning is there. The only reason it effects you is if you are trying to be a scummy day trader and take advantage of people who have less info than you. If Labcoin turns out to be legit, all it will have done is given you cheap shares.

So why care??

This echos my concerns too

JESUS FUCKING CHRIST... wtf do you guys want? You ramble on about random bullshit about mining this and mining that... LABCOIN IS A FUCKING FRAUD! Get over it for crying out loud. It's been weeks since you've asked for evidence and still no evidence comes. GET A FUCKING CLUE!

I was called a FUD at .0038 and I am still called a FUD at .0015. Fuck you mother fucking FUD haters, the truth shall speak!

Its called being a dumbass like 99% of people, hence why his shitty exchange will never become a big player, and will most likely die out in the future.

This thread is such a disaster that burnside has made a good step of making sure new investors can be warned of what's happening.  I have no problem with this, even if it means a lower share price.  It's called "keeping them honest", and helps take a bite out of manipulation attempts from the issuer.