[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 373.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: labcoin on September 17, 2013, 07:35:04 PM

We understand the feelings you are going through but at the same time we know most of the accusations thrown at us are foolish.
Please wait for results to take your decisions. We will show everyone this operation is very serious within about one month from now.
This is a very friendly advice; tomorrow the mining address and hashing statistics will be posted for everyone to verify.

This has been a long and difficult endeavour,thanks again.

you forgot the part where you say "please buy these shares, pretty please"

it takes me literally 2 seconds to copy and paste a BTC address. It takes me about 15 seconds to generate a signed message and post an address.

we all know they have the time to post an address, cause that last "update" took longer than that.

matt4054

legendary

Activity: 1946

Merit: 1035

Quote from: drawingthesun on September 17, 2013, 08:54:26 PM

Quote from: redphlegm on September 17, 2013, 08:51:29 PM

Still trying to figure out the reason for the delay of the mining address though (and doesn't solo mining add found blocks to different addresses?)

You move all mined bitcoins into an address of your choice. No point in leaving them in their mined addresses especially if they belong to shareholders. You make 1 pass through address for verification of mined blocks.

I would rather used a shared wallet.dat with keypoolsize=100000 or something like that.
Industrial solo miners know about this, so I expect them to do as well Cheesy

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: redphlegm on September 17, 2013, 08:51:29 PM

Still trying to figure out the reason for the delay of the mining address though (and doesn't solo mining add found blocks to different addresses?)

You move all mined bitcoins into an address of your choice. No point leaving them in their mined addresses especially if they belong to shareholders. You make 1 pass through address for verification of mined blocks.

matt4054

legendary

Activity: 1946

Merit: 1035

Guys, it's official, I want back in!

Code:

Received Bid Order: 100000 @ 0.0001 BTC

Placed Purchase Order #2742476: 100000 @ 0.0001 BTC.

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: BitThink on September 17, 2013, 08:51:09 PM

Quote from: VolanicEruptor on September 17, 2013, 08:44:43 PM

Quote from: BitThink on September 17, 2013, 08:42:17 PM

Quote from: VolanicEruptor on September 17, 2013, 08:28:34 PM

Quote from: Bitcycle on September 17, 2013, 08:21:36 PM

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.

1, 0.2% is not always 2TH. After 10 months it has to be 2PH.
2, 20% return after one year is good only when the stock keep its value after one year.
Or think it this way, you have to hold it 5 years and hope they can keep up with the hash rate increase and be live after 5 years to double your BTC.

There's a much better way, faster and safer, to achieve better outcome: sell it above .002 now.

I am not saying we all need to sell now, but just saying pure investing on this stock is even riskier than just speculating.

This is why I was referring to "snapshot annual return rate".. as this has been a benchmark in determining part of the share value for BTC stocks for awhile..20% SNAPSHOT ROI does not take time and rising difficulty into consideration, and I have already acknowledged that. I am talking about a temporary share value while they get the other chips up and running.

Fair enough. But I just want to point out using snapshot annual return rate to evaluate a mining company is quite misleading. In other industry, people often expect that the returning rate keeps stable, if not increasing, years is common. In bitcoin mining, that means double hashing rate every month, at least in the next year.

I believe you have described exactly why dividend yield % is so much higher in BTC securities than it is on a real stock exchange. It decreases so fast, that 20% - 40% is the common snapshot ROI rather than a solid 5%.

redphlegm

sr. member

Activity: 246

Merit: 250

My spoon is too big!

Quote from: szmarco on September 17, 2013, 08:41:45 PM

If this is not a scam, there are two reasons to insist using solo mining.
1. they need factual figures to compare the solo mode with a pool mode.
2. If they will deploy a huge hashrate in the future, the solo mode should be prepared early.

I mean If it's not a scam.

I was just thinking this earlier. If it was me, I would get the solo mining operation up first, working out any configuration nuances with a small hashrate. Better that than figuring it out when the mamma jamma becomes available later. Time lost with low hash rate now = least amount of funds lost long-term.

I always try to think of a rational explanation. Still trying to figure out the reason for the delay of the mining address though (and doesn't solo mining add found blocks to different addresses?)

BitThink

legendary

Activity: 882

Merit: 1000

Quote from: VolanicEruptor on September 17, 2013, 08:44:43 PM

Quote from: BitThink on September 17, 2013, 08:42:17 PM

Quote from: VolanicEruptor on September 17, 2013, 08:28:34 PM

Quote from: Bitcycle on September 17, 2013, 08:21:36 PM

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.

1, 0.2% is not always 2TH. After 10 months it has to be 2PH.
2, 20% return after one year is good only when the stock keep its value after one year.
Or think it this way, you have to hold it 5 years and hope they can keep up with the hash rate increase and be live after 5 years to double your BTC.

There's a much better way, faster and safer, to achieve better outcome: sell it above .002 now.

I am not saying we all need to sell now, but just saying pure investing on this stock is even riskier than just speculating.

This is why I was referring to "snapshot annual return rate".. as this has been a benchmark in determining part of the share value for BTC stocks for awhile..20% SNAPSHOT ROI does not take time and rising difficulty into consideration, and I have already acknowledged that. I am talking about a temporary share value while they get the other chips up and running.

Fair enough. But I just want to point out using snapshot annual return rate to evaluate a mining company is quite misleading. In other industry, people often expect that the returning rate keeps stable, if not increasing, for years is common. In bitcoin mining, that means double hashing rate every month, at least in the next year.

The snapshot yearly return for most PMBs are larger than 300%.

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: BitThink on September 17, 2013, 08:42:17 PM

Quote from: VolanicEruptor on September 17, 2013, 08:28:34 PM

Quote from: Bitcycle on September 17, 2013, 08:21:36 PM

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.

1, 0.2% is not always 2TH. After 10 months it has to be 2PH.
2, 20% return after one year is good only when the stock keep its value after one year.
Or think it this way, you have to hold it 5 years and hope they can keep up with the hash rate increase and be live after 5 years to double your BTC.

There's a much better way, faster and safer, to achieve better outcome: sell it above .002 now.

I am not saying we all need to sell now, but just saying pure investing on this stock is even riskier than just speculating.

This is why I was referring to "snapshot annual return rate".. as this has been a benchmark in determining part of the share value for BTC stocks for awhile..20% SNAPSHOT ROI does not take time and rising difficulty into consideration, and I have already acknowledged that. I am talking about a temporary share value while they get the other chips up and running.

Bitcycle

sr. member

Activity: 420

Merit: 250

Quote from: VolanicEruptor on September 17, 2013, 08:32:54 PM

100BTC/week means 14.28 bitcoins per day.. so there is a 14.28/25 (57%) chance of discovering a block in 24 hours

edit: that's 47.5% chance of finding one in 20 hours

Expanding on that approach

16 hr - 38%
12 hr- 28.5%
8 hr- 19%
4 hr- 9.5%

BitThink

legendary

Activity: 882

Merit: 1000

Quote from: VolanicEruptor on September 17, 2013, 08:28:34 PM

Quote from: Bitcycle on September 17, 2013, 08:21:36 PM

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.

1, 0.2% is not always 2TH. After 10 months it has to be 2PH.
2, 20% return after one year is good only when the stock keep its value after one year.
Or think it this way, you have to hold it 5 years and hope they can keep up with the hash rate increase and be live after 5 years to double your BTC.

There's a much better way, faster and safer, to achieve better outcome: sell it above .002 now.

I am not saying we all need to sell now, but just saying pure investing on this stock is even riskier than just speculating.

szmarco

hero member

Activity: 574

Merit: 500

If this is not a scam, there are two reasons to insist using solo mining.
1. they need factual figures to compare the solo mode with a pool mode.
2. If they will deploy a huge hashrate in the future, the solo mode should be prepared early.

I mean If it's not a scam.

Vigil

sr. member

Activity: 378

Merit: 250

Quote from: Bitcycle on September 17, 2013, 08:35:33 PM

Quote from: limbaugh on September 17, 2013, 08:32:42 PM

Quote from: Bitcycle on September 17, 2013, 08:29:45 PM

No, I mean at 2TH the odds are against them finding a block in the next 20 hours.

Does it matter if they have found a block?

Quote from: labcoin on September 17, 2013, 07:35:04 PM

This is a very friendly advice; tomorrow the mining address and hashing statistics will be posted for everyone to verify.

Wouldn't this mean we can see the hashrate?

How is anyone going to verify the hashrate without blocks found?

Lets change the game up a bit... why worry about verifying it at all?

Bitcycle

sr. member

Activity: 420

Merit: 250

Quote from: limbaugh on September 17, 2013, 08:32:42 PM

Quote from: Bitcycle on September 17, 2013, 08:29:45 PM

No, I mean at 2TH the odds are against them finding a block in the next 20 hours.

Does it matter if they have found a block?

Quote from: labcoin on September 17, 2013, 07:35:04 PM

This is a very friendly advice; tomorrow the mining address and hashing statistics will be posted for everyone to verify.

Wouldn't this mean we can see the hashrate?

How is anyone going to verify the hashrate without blocks found?

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: Bitcycle on September 17, 2013, 08:29:45 PM

Quote from: VolanicEruptor on September 17, 2013, 08:28:34 PM

Quote from: Bitcycle on September 17, 2013, 08:21:36 PM

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" return rate rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.

No, I mean at 2TH the odds are against them finding a block in the next 20 hours.

100BTC/week means 14.28 bitcoins per day.. so there is a 14.28/25 (57%) chance of discovering a block in 24 hours

edit: that's 47.5% chance of finding one in 20 hours

limbaugh

legendary

Activity: 1311

Merit: 1000

Quote from: Bitcycle on September 17, 2013, 08:29:45 PM

No, I mean at 2TH the odds are against them finding a block in the next 20 hours.

Does it matter if they have found a block?

Quote from: labcoin on September 17, 2013, 07:35:04 PM

This is a very friendly advice; tomorrow the mining address and hashing statistics will be posted for everyone to verify.

Wouldn't this mean we can see the hashrate?

Bitcycle

sr. member

Activity: 420

Merit: 250

Quote from: Ytterbium on September 17, 2013, 08:09:48 PM

Bitcycle

sr. member

Activity: 420

Merit: 250

Quote from: VolanicEruptor on September 17, 2013, 08:28:34 PM

Quote from: Bitcycle on September 17, 2013, 08:21:36 PM

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.

No, I mean at 2TH the odds are against them finding a block in the next 20 hours.

VolanicEruptor

sr. member

Activity: 392

Merit: 250

Quote from: Bitcycle on September 17, 2013, 08:21:36 PM

If they're at 2 TH or less, the odds are against them.

I have to talk myself out of dumping. Heh.

actually, 2TH would be great.
.2% of the network = 100BTC/week
100BTC / 10,000,000 = .00001/share

.00001/share is 20% annual return with this share price (and then take labcoins cut from that),
even though its an "annual snapshot" rather than "actual" annual return, that's still pretty good in BTC land..

Look at it this way.. we need a minimum of 2TH/S just to retain share value.. anything above that is just going to send it upwards.

Vigil

sr. member

Activity: 378

Merit: 250

Quote from: keeron on September 17, 2013, 08:22:42 PM

Quote from: Bitcycle on September 17, 2013, 08:17:23 PM

Quote from: Vigil on September 17, 2013, 08:16:20 PM

Well, at least they are hashing then.

True. But what if they don't find a block by 7:46 PM UTC?

Seriously? You don't know labcoin or this thread enough. They'll post another announcement of announcements :-) And we'll have another counter.

Really, are people this dumb to waste their money/BTC? Burnside is probably enjoying the show, but you guys (I mean, those dumb souls that own the shares) need to just dump them and enjoy the 0.5% return you'll get with BTC changing value then LABCOIN ever delivering.

But since this is life, and everyone learns their lessons... enjoy those wasted BTCs :-)

This is fun, I am glad I've stayed away from this scam

Don't knock it til you try it.

keeron

full member

Activity: 180

Merit: 100

Quote from: Bitcycle on September 17, 2013, 08:17:23 PM

Quote from: Vigil on September 17, 2013, 08:16:20 PM

Well, at least they are hashing then.

True. But what if they don't find a block by 7:46 PM UTC?

Seriously? You don't know labcoin or this thread enough. They'll post another announcement of announcements :-) And we'll have another counter.

Really, are people this dumb to waste their money/BTC? Burnside is probably enjoying the show, but you guys (I mean, those dumb souls that own the shares) need to just dump them and enjoy the 0.5% return you'll get with BTC changing value then LABCOIN ever delivering.

But since this is life, and everyone learns their lessons... enjoy those wasted BTCs :-)

This is fun, I am glad I've stayed away from this scam

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 373. (Read 1079974 times)