[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 340.

Luckybit

hero member

Activity: 714

Merit: 510

Quote from: tucenaber on September 18, 2013, 05:29:05 PM

Quote from: TheSwede75 on September 18, 2013, 05:08:05 PM

Update:

Just a small update with the address signed so that there is less confusion and fud when pool mining is running.

Message: Labcoin mining address
Signature: HJRjzVPG3CC5OjInesByNcdfkI2kz6hONR3LjVUABUVDq03Z3ARcmEfdXWeJwzX0zUqoWkyx1rNjmps CuP8cWQA
Address: 17psAW21J4twanAFWmbcd5WdX2pKeX3trm

Code:

$ bitcoind verifymessage 17psAW21J4twanAFWmbcd5WdX2pKeX3trm HJRjzVPG3CC5OjInesByNcdfkI2kz6hONR3LjVUABUVDq03Z3ARcmEfdXWeJwzX0zUqoWkyx1rNjmpsCuP8cWQA "Labcoin mining address"
error: {"code":-5,"message":"Malformed base64 encoding"}

The sig seems to be malformed. Can you please post the correct signature?

Wow if they lied about that then it's game over.

tucenaber

sr. member

Activity: 337

Merit: 252

Quote from: TheSwede75 on September 18, 2013, 05:08:05 PM

Update:

Just a small update with the address signed so that there is less confusion and fud when pool mining is running.

Message: Labcoin mining address
Signature: HJRjzVPG3CC5OjInesByNcdfkI2kz6hONR3LjVUABUVDq03Z3ARcmEfdXWeJwzX0zUqoWkyx1rNjmps CuP8cWQA
Address: 17psAW21J4twanAFWmbcd5WdX2pKeX3trm

Code:

$ bitcoind verifymessage 17psAW21J4twanAFWmbcd5WdX2pKeX3trm HJRjzVPG3CC5OjInesByNcdfkI2kz6hONR3LjVUABUVDq03Z3ARcmEfdXWeJwzX0zUqoWkyx1rNjmpsCuP8cWQA "Labcoin mining address"
error: {"code":-5,"message":"Malformed base64 encoding"}

The sig seems to be malformed. Can you please post the correct signature?

Luckybit

hero member

Activity: 714

Merit: 510

Quote from: velacreations on September 18, 2013, 05:26:58 PM

Quote from: Luckybit on September 18, 2013, 05:23:52 PM

You caught him.

But that doesn't mean it's purposeful. It could be that mining just didn't work when they tried it and had to stop. They did mention that it wasn't very reliable.

wait, wait, wait.
How is saying "we are mining" not purposefully lying when it is not true?

He just said "when mining starts" That means mining hasn't started.

Maybe they started mining but then the miner overheated and broke, or didn't work, or was unreliable. There are plenty of logical explanations for why they could have stopped mining. They promised a dividend so then a miscalculation. It's not exactly easy to deploy something like this, lets be real.

well.attenuated

newbie

Activity: 41

Merit: 0

Quote from: Ukyo on September 18, 2013, 05:25:46 PM

Quote from: well.attenuated on September 18, 2013, 05:19:41 PM

Quote from: Ukyo on September 18, 2013, 05:13:34 PM

My thoughts are that if Labcoin has been mining some for the last week or two, why not post the address that has those mined coins?
No matter what, forwarding those coins to any address to get into the investors hands will be traceable. I do not see a need to try to hide that address.
Labcoin could use a mixer, but what would be gained by keeping that address so secret?

Or is the intention not to pay out coins mined prior to this new address or some other event?

-Ukyo

That would be this address: 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C

Heya, thanks for the address.
This does appear to have generated coins.
Do you have proof this is from Labcoin?
(I may have missed a post, there are quire a few.) But if LabCoin had posted this, people would not be arguing if LC is mining or not. Wink

Or was this an address that was found to be mining and is guesswork?

Thanks,
Ukyo

No proof of LC, just a plausible mining address that matches up for time-course and hashrate

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: Ukyo on September 18, 2013, 05:25:46 PM

Or was this an address that was found to be mining and is guesswork?

Thanks,
Ukyo

it's just guesswork. They have not published an address that has any revenue from mining. If that address is theirs, why are they hiding it?

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: Luckybit on September 18, 2013, 05:23:52 PM

You caught him.

But that doesn't mean it's purposeful. It could be that mining just didn't work when they tried it and had to stop. They did mention that it wasn't very reliable.

wait, wait, wait.
How is saying "we are mining" not purposefully lying when it is not true?

He just said "when mining starts" That means mining hasn't started.

Anotheranonlol

hero member

Activity: 588

Merit: 504

Quote from: TheSwede75 on September 18, 2013, 05:11:38 PM

I have already stated very publicly that the accusation is 100% false. Anyone who reads the threads in question will also realize that the inquiries for watch/car were not made for myself but rather irl friends. And not that It matters, but neither of the purchases were made.

you are a 100% barefaced liar

Zakryze

sr. member

Activity: 308

Merit: 250

Quote from: ajk on September 18, 2013, 05:17:28 PM

If the company actually created the mining hardware why are they not jumping for joy trying to give us proof of the machines, as soon as FC created Block eruptors, USB miners, we had pics why can you not do the same thing if you are mining,

You created exactly what the prospect of the IPO had stated yet you are hesitant to show us pictures of the very machines that investors invested in the company for,

Seriously man? You bought rolex's and stuff for your friends? if they had the cash for it why would they not just go to a store like a regular person and purchase it,you got caught red handed then denied the fact that the addresses were yours, it would make more sense that someone who never had a dime prior to receiving what some would consider life changing money and then spending it because your old as dirt and have never had money before

They dont want to make you happy, they want to get rich.

Ukyo

sr. member

Activity: 448

Merit: 250

Quote from: well.attenuated on September 18, 2013, 05:19:41 PM

Quote from: Ukyo on September 18, 2013, 05:13:34 PM

My thoughts are that if Labcoin has been mining some for the last week or two, why not post the address that has those mined coins?
No matter what, forwarding those coins to any address to get into the investors hands will be traceable. I do not see a need to try to hide that address.
Labcoin could use a mixer, but what would be gained by keeping that address so secret?

Or is the intention not to pay out coins mined prior to this new address or some other event?

-Ukyo

That would be this address: 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C

Heya, thanks for the address.
This does appear to have generated coins.
Do you have proof this is from Labcoin?
(I may have missed a post, there are quire a few.) But if LabCoin had posted this, people would not be arguing if LC is mining or not. Wink

Or was this an address that was found to be mining and is guesswork?

Thanks,
Ukyo

oxideNL

member

Activity: 82

Merit: 10

Quote from: well.attenuated on September 18, 2013, 05:19:41 PM

Quote from: Ukyo on September 18, 2013, 05:13:34 PM

My thoughts are that if Labcoin has been mining some for the last week or two, why not post the address that has those mined coins?
No matter what, forwarding those coins to any address to get into the investors hands will be traceable. I do not see a need to try to hide that address.
Labcoin could use a mixer, but what would be gained by keeping that address so secret?

Or is the intention not to pay out coins mined prior to this new address or some other event?

-Ukyo

That would be this address: 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C

Sigh,.. those dates do add up. and the interval is pretty close to 1~5 th
And what ukyo said also crossed my mind multiple times, adding those two together it's pretty plausible

Luckybit

hero member

Activity: 714

Merit: 510

Quote from: velacreations on September 18, 2013, 05:22:17 PM

Quote from: TheSwede75 on September 18, 2013, 05:12:45 PM

Of course anyone can create and sign an address, I do not expect this to do anything until the point that mining starts.

Finally!!!! Some truth!

They are not mining and have not been mining since Sep 10, even though they stated otherwise several times!

If they would lie for more than a week about so simple as to whether they are mining or not, how can we trust them that any of the MORE COMPLICATED promises will be kept? You know, like locking shares, paying dividends, buying hardware, assembling hardware, and mining with assembled hardware??!!

This is, perhaps, the most significant piece of information of this whole thread. Not only have they lied directly to the shareholders a number of times, they covered it up, and STILL don't have anything to show for the vast amount of money invested in this venture.

You caught him.

But that doesn't mean it's purposeful. It could be that mining just didn't work when they tried it and had to stop. They did mention that it wasn't very reliable.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: Ytterbium on September 18, 2013, 05:18:03 PM

They said they would post the mining address, and they did. So they did actually follow through on their promise. Of course, since that address doesn't have any blocks found it would seem like they're having some technical difficulties so far. But they did do what they said they would do, and now people will be able to verify their hashrate.

current hash rate: 0

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: Ukyo on September 18, 2013, 05:13:34 PM

My thoughts are that if Labcoin has been mining some for the last week or two, why not post the address that has those mined coins?
No matter what, forwarding those coins to any address to get into the investors hands will be traceable. I do not see a need to try to hide that address.
Labcoin could use a mixer, but what would be gained by keeping that address so secret?

Or is the intention not to pay out coins mined prior to this new address or some other event?

-Ukyo

yeah, I agree, Ukyo. The problem is, they HAVEN'T been mining, and just admitted it!

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: TheSwede75 on September 18, 2013, 05:12:45 PM

Of course anyone can create and sign an address, I do not expect this to do anything until the point that mining starts.

Finally!!!! Some truth!

They are not mining and have not been mining since Sep 10, even though they stated otherwise several times!

If they would lie for more than a week about so simple as to whether they are mining or not, how can we trust them that any of the MORE COMPLICATED promises will be kept? You know, like locking shares, paying dividends, buying hardware, assembling hardware, and mining with assembled hardware??!!

This is, perhaps, the most significant piece of information of this whole thread. Not only have they lied directly to the shareholders a number of times, they covered it up, and STILL don't have anything to show for the vast amount of money invested in this venture.

Stuartuk

sr. member

Activity: 266

Merit: 250

Quote from: ssshhh on September 18, 2013, 05:06:51 PM

http://bizcovering.com/investing/stock-market-chart-and-price-jargon-revealed/

Quote

Price Movements
Tree Shakes – if you hold shares in a company and the price starts to drift downwards, you need to check two things. Firstly check the date and make sure it is not ex-dividend day – your share price will drop by the same amount as the dividend, and this is fine. Secondly, scour the news for reasons why the sp might be dropping. If you can’t find any good reason, then the chances are that you are witnessing a “tree shake”. When a market maker is trying to fill a large institutional buy order, sometimes they may not have enough shares. They start to gradually drop the share price in order to “scare” people into thinking the company has a problem. Weak holders will sell up, and the market maker continues to drop the price until enough weak holders have relinquished their shares. The market maker then fulfils its large order and returns the share price to where it started. Be eagle-eyed for all news relating to companies you hold shares in, and you’ll be better able to spot tree shakes and not get caught out.

Yes, I heard the Bank of Japan is interested in LC, lol you fool.

tucenaber

sr. member

Activity: 337

Merit: 252

Quote from: keeron on September 18, 2013, 05:13:14 PM

The level of stupidity on this thread continues to amaze me. Someone just signs a BTC address, and folks start believing Labcoin is mining!

Deadlines after deadlines pass, yet they can't gather a camera and a half ounce brain to take a picture of the equipment or mining in progress.

I'm not particularly worried about pretend mining, but how about thinking about the more plausible scenario:

Some fraction of the hashrate is diverted for private use. There is no way of knowing if 100% is accounted for, unless Labcoin arranges some kind of auditing. Can we get a policy for this?

well.attenuated

newbie

Activity: 41

Merit: 0

Quote from: Ukyo on September 18, 2013, 05:13:34 PM

My thoughts are that if Labcoin has been mining some for the last week or two, why not post the address that has those mined coins?
No matter what, forwarding those coins to any address to get into the investors hands will be traceable. I do not see a need to try to hide that address.
Labcoin could use a mixer, but what would be gained by keeping that address so secret?

Or is the intention not to pay out coins mined prior to this new address or some other event?

-Ukyo

That would be this address: 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C

Ytterbium

full member

Activity: 238

Merit: 100

They said they would post the mining address, and they did. So they did actually follow through on their promise. Of course, since that address doesn't have any blocks found it would seem like they're having some technical difficulties so far. But they did do what they said they would do, and now people will be able to verify their hashrate.

ajk

donator

Activity: 447

Merit: 250

If the company actually created the mining hardware why are they not jumping for joy trying to give us proof of the machines, as soon as FC created Block eruptors, USB miners, we had pics why can you not do the same thing if you are mining,

You created exactly what the prospect of the IPO had stated yet you are hesitant to show us pictures of the very machines that investors invested in the company for,

Seriously man? You bought rolex's and stuff for your friends? if they had the cash for it why would they not just go to a store like a regular person and purchase it,you got caught red handed then denied the fact that the addresses were yours, it would make more sense that someone who never had a dime prior to receiving what some would consider life changing money and then spending it because your old as dirt and have never had money before

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: JohnyBigs on September 18, 2013, 05:05:51 PM

Guys they will be hashing on a pool soon. Quick must do the most retarded thing possible, must sell shares now.

I thought they have been hashing since Sep 10, that's what they said?!?!

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 340. (Read 1079974 times)