[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 313.

velacreations

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Quote from: Luckybit on September 19, 2013, 03:12:10 PM

At one point I saw it posted somewhere on this forum. They are at BTC Guild. That is all I know at the moment.

All you know is that a payment is coming from BTC Guild.

just a while ago someone mentioned the hash rate:

Quote

250 GH/s (= 1.12 BTC / day currently, at 100% PPS)

So, that's like what? 1 USB miner?

velacreations

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Merit: 250

Quote from: Luckybit on September 19, 2013, 03:08:29 PM

Yeah so they'll do all that for 43.5 BTC when they could have had more if they posted fake pictures?

what makes you think it is Labcoin? I'm saying it is a 3rd party troll, not labcoin sending those payments to the Labcoin address to generate share price fluctuations.

ShroomsKit

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Labcoin could spend 2 minutes to clear things up. But as always they refuse to.
Crazy. Absolutely crazy.

Luckybit

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Quote from: BombaUcigasa on September 19, 2013, 03:09:41 PM

Quote from: Luckybit on September 19, 2013, 03:08:29 PM

If you have the block reward and pool hash rate and you know the percentage that Labcoin received from that block reward then you can estimate the hash rate. I don't have the equation in front of me because I'm not a math nerd but I'm sure someone here can explain it to you.

That is correct. However to apply the equation you need access to those numbers you mentioned. Do you know the block reward, pool rate and Labcoin percentage at this moment?

At one point I saw it posted somewhere on this forum. They are at BTC Guild. That is all I know at the moment.

Luckybit

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Quote from: velacreations on September 19, 2013, 03:07:42 PM

Quote from: Luckybit on September 19, 2013, 03:03:23 PM

But why would anyone do this if its a scam? Scams aren't supposed to lose money.
People would do this if its to save face but not out of greed.

Scam cost ~4 btc.
Buy 15K shares at .0022 yesterday: 33 btc.
Sell 15K shares around .0029 yesterday: 43.5 btc

profit: 6.5 btc ON JUST ONE MOVE

Yeah so they'll do all that for 43.5 BTC when they could have had more if they posted fake pictures? If they are scammers they are stupid. Missing deadlines makes your shares worth a lot less. All they had to do to run a scam is post a video of some box mining away, with fake pictures, and elaborate fake technical specifications and the share prices would have already been over 0.004.

BombaUcigasa

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Quote from: Luckybit on September 19, 2013, 03:08:29 PM

If you have the block reward and pool hash rate and you know the percentage that Labcoin received from that block reward then you can estimate the hash rate. I don't have the equation in front of me because I'm not a math nerd but I'm sure someone here can explain it to you.

That is correct. However to apply the equation you need access to those numbers you mentioned. Do you know the block reward, pool rate and Labcoin percentage at this moment?

Luckybit

hero member

Activity: 714

Merit: 510

Quote from: velacreations on September 19, 2013, 03:00:47 PM

Quote from: Luckybit on September 19, 2013, 02:58:22 PM

Someone or something has been hashing over the last 24 hr and significant amounts of coin has been generated.

No. someone is sending coins to that address. You have no evidence it is Labcoin sending those coins.

Quote from: Luckybit on September 19, 2013, 02:58:22 PM

It's enough coin generated that it does seem like someone is hashing with around 0.5-1TH but I'm not a math pro.

post your math on how you came to that conclusion.

If you have the block reward and pool hash rate and you know the percentage that Labcoin received from that block reward then you can estimate the hash rate. I don't have the equation in front of me because I'm not a math nerd but I'm sure someone here can explain it to you more thoroughly.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: Luckybit on September 19, 2013, 03:03:23 PM

But why would anyone do this if its a scam? Scams aren't supposed to lose money.
People would do this if its to save face but not out of greed.

Scam cost ~4 btc.
Buy 15K shares at .0022 yesterday: 33 btc.
Sell 15K shares around .0029 yesterday: 43.5 btc

profit: 6.5 btc ON JUST ONE MOVE

matt4054

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Quote from: afrotec on September 19, 2013, 03:01:31 PM

Quote from: matt4054 on September 19, 2013, 02:58:13 PM

So LABCOIN is now hashing at about 250 GH/s (= 1.12 BTC / day currently, at 100% PPS), new rumors seem to indicate that they are mining with Avalons (but that could be FUD).

There is no way I'm back in under such conditions. Besides, 250 GH/s is ridicule compared to the 6 TH/s that were promised two weeks ago: it's about 12 times lower than what was announced earlier.

My advice: stay out if you're not in....

Haha, what sound advice you give. Based on a picture thats a few months old, and likely not applicable to the current situation....

So dump everything you say?

Roll Eyes

No, I said do not buy, I didn't say dump.

Obviously the stock price is still highly volatile / explosive.

If you want to gamble, do what you want, you might always make a profit selling higher later.

If you want to play it safe, don't buy. If you have an open position, place your asks just above your buying price and get out while you can without being at loss.

In any case, panic selling wasn't wise from me, but Labcoin is so toxic right now, who wants a long term position in that...

BombaUcigasa

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Quote from: Luckybit on September 19, 2013, 03:03:23 PM

Quote from: BombaUcigasa on September 19, 2013, 03:01:58 PM

Quote from: FloatesMcgoates on September 19, 2013, 02:57:00 PM

why are people quoting something from july?

People forget easily and jump to conclusions hastily.

Some people must remind the others that proof of hashing by regular transactions can be spoofed and is indistinguishable from real pool payments. The cost of spoofing is around 5-10% of the spoofed sum.

For example, I can post an address here, and claim to mine at 2TH, and tomorrow find some "volunteers" that I pay from my funds, and they will deposit their pool funds directly to my address while I send on the side the same bitcoins back to them, plus a commission. According to this topic, some people would believe me I hash with 2TH and buy my mining shares and give me 90.000$ a day. All I need to spend is the first funds transaction to the address, and the fee to my partner for each subsequent payment.

But why would anyone do this if its a scam? Scams aren't supposed to lose money.
People would do this if its to save face but not out of greed.

Good question.

What if I get 90.000$ a day from dumping shares, and spend only 9 BTC a day (2TH/s) for a few days?

I am actually "selling" BTC for 10.000$ a piece. Does this look like "losing money" to you?

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: BombaUcigasa on September 19, 2013, 03:01:58 PM

For example, I can post an address here, and claim to mine at 2TH, and tomorrow find some "volunteers" that I pay from my funds, and they will deposit their pool funds directly to my address while I send on the side the same bitcoins back to them, plus a commission. According to this topic, some people would believe me I hash with 2TH and buy my mining shares and give me 90.000$ a day. All I need to spend is the first funds transaction to the address, and the fee to my partner for each subsequent payment.

+1
meanwhile, the price rises from .0022 to .003 very quickly, and then someone sells 15K shares instantly to cash in almost exactly at the time when the second "mining revenue" payment was received.

That's not suspect?

Multi

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I forgot to write, div will be next week, from our BTC Grin

Luckybit

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Activity: 714

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Quote from: BombaUcigasa on September 19, 2013, 03:01:58 PM

Quote from: FloatesMcgoates on September 19, 2013, 02:57:00 PM

why are people quoting something from july?

People forget easily and jump to conclusions hastily.

Some people must remind the others that proof of hashing by regular transactions can be spoofed and is indistinguishable from real pool payments. The cost of spoofing is around 5-10% of the spoofed sum.

For example, I can post an address here, and claim to mine at 2TH, and tomorrow find some "volunteers" that I pay from my funds, and they will deposit their pool funds directly to my address while I send on the side the same bitcoins back to them, plus a commission. According to this topic, some people would believe me I hash with 2TH and buy my mining shares and give me 90.000$ a day. All I need to spend is the first funds transaction to the address, and the fee to my partner for each subsequent payment.

But why would anyone do this if its a scam? Scams aren't supposed to lose money.
People would do this if its to save face but not out of greed.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: matt4054 on September 19, 2013, 02:58:13 PM

So LABCOIN is now hashing at about 250 GH/s (= 1.12 BTC / day currently, at 100% PPS),

there's no evidence that Labcoin is hashing. The evidence only shows that SOMEONE is sending their USB miner coins to Labcoin's address.

BombaUcigasa

legendary

Activity: 1442

Merit: 1005

Quote from: FloatesMcgoates on September 19, 2013, 02:57:00 PM

why are people quoting something from july?

People forget easily and jump to conclusions hastily.

Some people must remind the others that proof of hashing by regular transactions can be spoofed and is indistinguishable from real pool payments. The cost of spoofing is around 5-10% of the spoofed sum.

For example, I can post an address here, and claim to mine at 2TH, and tomorrow find some "volunteers" that I pay from my funds, and they will deposit their pool funds directly to my address while I send on the side the same bitcoins back to them, plus a commission. According to this topic, some people would believe me I hash with 2TH and buy my mining shares and give me 90.000$ a day. All I need to spend is the first funds transaction to the address, and the fee to my partner for each subsequent payment.

afrotec

full member

Activity: 127

Merit: 100

Coinnoisseur

Quote from: matt4054 on September 19, 2013, 02:58:13 PM

So LABCOIN is now hashing at about 250 GH/s (= 1.12 BTC / day currently, at 100% PPS), new rumors seem to indicate that they are mining with Avalons (but that could be FUD).

There is no way I'm back in under such conditions. Besides, 250 GH/s is ridicule compared to the 6 TH/s that were promised two weeks ago: it's about 12 times lower than what was announced earlier.

My advice: stay out if you're not in....

Haha, what sound advice you give. Based on a picture thats a few months old, and likely not applicable to the current situation....

So dump everything you say?

Roll Eyes

Rulother

member

Activity: 68

Merit: 10

Quote from: matt4054 on September 19, 2013, 02:58:13 PM

So LABCOIN is now hashing at about 250 GH/s (= 1.12 BTC / day currently, at 100% PPS), new rumors seem to indicate that they are mining with Avalons (but that could be FUD).

There is no way I'm back in under such conditions. Besides, 250 GH/s is ridicule compared to the 6 TH/s that were promised two weeks ago: it's about 12 times lower than what was announced earlier.

My advice: stay out if you're not in....

Look at the dates ffs

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: Luckybit on September 19, 2013, 02:58:22 PM

Someone or something has been hashing over the last 24 hr and significant amounts of coin has been generated.

No. someone is sending coins to that address. You have no evidence it is Labcoin sending those coins.

Quote from: Luckybit on September 19, 2013, 02:58:22 PM

It's enough coin generated that it does seem like someone is hashing with around 0.5-1TH but I'm not a math pro.

post your math on how you came to that conclusion.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: Multi on September 19, 2013, 02:54:09 PM

I see just a blank address and some trinkets from users only

+1
and then I think it's suspect when a few users come on and say things like "see, there's the proof, right there!" are they the ones that sent those fake payments?

Luckybit

hero member

Activity: 714

Merit: 510

Quote from: velacreations on September 19, 2013, 02:49:59 PM

Quote from: Luckybit on September 19, 2013, 02:28:38 PM

It's obvious they are hashing with something

it is? can you please share your information on how you came to that conclusion?

http://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trm

Someone or something has been hashing over the last 24 hr and significant amounts of coin has been generated.
It's enough coin generated that it does seem like someone is hashing with around 0.5-1TH but I'm not a math pro.

Quote from: matt4054 on September 19, 2013, 02:58:13 PM

So LABCOIN is now hashing at about 250 GH/s (= 1.12 BTC / day currently, at 100% PPS), new rumors seem to indicate that they are mining with Avalons (but that could be FUD).

There is no way I'm back in under such conditions. Besides, 250 GH/s is ridicule compared to the 6 TH/s that were promised two weeks ago: it's about 12 times lower than what was announced earlier.

My advice: stay out if you're not it....

I doubt you'd even get as much as they generated in the time they did with only 250GH/s but sure, it's something which you can take under consideration. How long do you think that will last? Not much longer than through the weekend.

If it's a scam why wouldn't they just use the 250GH/s all for themselves? Why would they bother putting on a show? Give a reason why the most complicated and elaborate conspiracy theory must be true over simple incompetence.

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 313. (Read 1079974 times)