Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 271. (Read 1079974 times)

+1. I too have not sold my shares and don't feel that any extra warnings are unnecessary.

+1

I was completely shocked when I saw the warning.  I do not feel that burnside did it with mal-intent, but I do feel it should be removed.

"WARNING -- There is a lot of controversy over the reliability of the operator of this asset. Please place your orders accordingly."

I am an exchange operator and this may be seen in poor view and many will disagree however the following is the personal opinion of myself as an investor in Labcoin.

As a Labcoin share holder who has not sold, I feel the message has done financial harm to Labcoin investors as it could easily be put on many asset's pages and has received special treatment never used before. (To the best of my knowledge)

Not to defend Labcoin's actions or justify the asset or argue that nothing should have been posted or done, just that it has carries suggestive implications without stating any facts.

This message carries no facts or merits of any kind and has only necessarily caused a form of market devaluation and manipulation.

In another thread it was mentioned being posted due to lack of response from the issuer.
If that is the case, please change the message to say that there is a lack of communicative response from the issuer to the exchange and not that there is "a lot of controversy".
As to weather posting the facts of a lack of communication would have caused the exact same devaluation, this can no longer be proven now and may potentially have had a much smaller impact.
There is a lot of controversy on many many many assets. Just because one is in the spotlight more does not mean the exchange needs spotlight it as well without stating any facts.

The immediate price drop of the asset following the posting of the speculative non-factual suggestive message (regardless of any potential issues with the asset) has cost investors thousands of bitcoins in losses by the message.

10,000,000 shares and a trade price of about 0.0025 btc per share at the time prior to posting having a roughly 25,000 valuation dropping to 0.0015 15,000 valuation.

Again, regardless of if there is the controversy or not, the exchange should not be posting non-factual information that could cause potential changes to the market value of an asset.
This is akin to the exchange posting a message similar to "Many users expect this asset to do very well. Place your orders accordingly."

The site already reminds users to be careful with their investments.

I do not like to see people get scammed, I think there are many potential actions from an exchange point of view.
I do not think causing already concerned investors massive losses by spreading controversy is one of them.

Speeding up potential drops in valuation is not within the scope of an exchange protecting it's investors or in the investors best interest.
Halting trade on an asset if there is a factual proven issue (or even extreme lack of communications between issuer and exchange) is within scope of investor protection.
The job of the exchange is to protect investors and offer a reliable service.
Who protected investors from the price drop ensued by the relay of non-factual "controversy" by the exchange?

Feel free to flame me for the message. I fully expect it from some. I may be very wrong and I do not intent to make a continued argument over it.
I am just stating an opinion that has been bugging me all day that I wanted to share.
As one of the already aforementioned concerned investors, I feel that this only made things worse and should at least be corrected.

They only have two. I helped them sell one to a buyer in the US.

Whatever it is, it's the only support of current price. I don't think they will or should stop it. Panic sell will hurt a lot people here. Really wish things turns to good slowly. Then even those who don't trust labcoin could leave in peace.

they are the 3 avalons they admitingly have, please stop this

It's still around 200-300GH. Consistent with the speed when it was in Slush's pool. Seems it was down when it was moved to BTCGuid for several hours, and was brought up  around 10 hours ago.

That is just someone dumping payments in there. What is it to drop a BTC.1 or .01 if you've got BTC100 (or less even)?

Yes you can. So I may have read that wrong. Oh well. There hasn't been another payment an hour after that, so who knows.

The other weird thing is that the payments are all over the map.  0.1, 0.2, 0.5 sometimes.  If they had a threshold and were paying out at 0.1 you'd see a lot more payments. So it's very weird.

Yes I also see the same not sure what he is talking about.

Yes.

Maybe this day won't suck so bad after all.

From what I see, there's more than 5 hours between the last pay and the one before it? Why did you say 1 hour? Have I missed something?

I don't know how btcguild works... Can't you rise payout threshold to be paid with a larger amount?

Just the timing, if that's for an hours worth of hashing it's 1.2Th/s - so that would mean whoever is sending them payments would have to have a pretty substantial hash rate. Prior to that one it looked like a situation where someone might just be trolling the address with their own payments from BTCGuild, but the more it happens the less likely that is.  There was also the question of whether or not the payments were just from the three Avalons, but the hashrate they'd need to keep that up would be well over the 240Gh/s that you get from three Avalons.

If that's what we're looking at. It's not always totally clear with these guys.

It is considerably cheaper than what I paid just 2 days ago. Funny thing is it seems this is ready to skyrocket, even with its shaky history.

the only good news we have over 5.5 btc to split in dividend... well if they pay on the 24th

How is that payment different than any other of the sizable payments from btcguild lately?

But that is what we thought a couple days ago - or at least we couldn't figure out. Honestly though, I am going to be super pissed if they all of a sudden get 2 TH after I dumped and its too late for me to get my shares back.

No one's buying though.  Maybe they just think it's another troll payment.