Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 450. (Read 1079974 times)

You forget that shareholders have funded their project and they owe us (not me anymore) to take care of the market (at least). How can you trust their words without any evidence of anything ? I just don't understand how you can still have faith at this point. Update after update it's always the same: only words (or some random pictures). Per example, what about the lock of their shares ? They are running out of excuses.

Labcoin already have the money so their success isn't dependant upon the share price. Ultimately, it depends on how their chips perform and the value they provide. We're about to find that out over the coming weeks.

They claim to currently have 2 Th/s and will be expanding to 20 Th/s in the next 20 days. They're not just bringing more hashing power online, they're also tweaking what's already running to optimise the whole system.

There's no proof whatsoever that they are not mining, just opinions. In fact, on the engineering side, from the updates we've had so far, Labcoin seem to be on schedule and possibly a bit ahead. When it has come to providing actual proof that would verify that Labcoin are in deed mining, Labcoin have failed miserably on that score. That is not proof that they're not hashing though, that's just proof of poor PR skills which I kind of expect from engineers anyway.

They've told us that this proof will be forthcoming over the next couple of weeks with the address being provided when mining is stabilised and around 10 TH/s.

Apart from the claimed good news about mining, what else has actually changed? The community has asked for specific things and has been told that those things will be provided within the next couple of weeks.

Sell all you want or buy all you want, it makes no difference to Labcoin. They'll keep bringing more hashing power online as they've already paid for the necessary hardware.

I'm sure they will have something in 6 weeks(tm), but it's gonna be too late. They lost the only advantage they had: time.

So what then about Labcoin is legitimate? If they don't have functional PCBs, if they can't provide pcitures of assembled boards, if they can't provide proof of hashing, they don't have anything. If they don't have anything then they are necessarily a scam.

'End of October™'

I don't think they're a scam.

But I also have NO IDEA when they'll actually start hashing, and the answer to that question makes a huge, huge difference in how much this stock is worth.

The last they said was to wait until the END OF OCTOBER, and that's just too long.

I agree with you but I don't think Labcoin is a scam. They are just paying the price of too much bullshit and not enough honesty. And as you said, in the BTC world, *trust* is everything.

Part of the problem is that there is zero regulation, so if a "real" company pulled a stunt like this it wouldn't be as big of a deal, shareholders could assume that the company wasn't just a huge scam or that the owners wouldn't run off with some of the money because if it was or they tried that, they'd be prosecuted.

But here, if you lose investor trust it will be difficult to get back.

I'm used to these waves, but this time, this is different. I was asking myself many times today if I should put some bids or not. The fact is that I just don't want to be here 24/24h to check if something is going wrong or not. So I've chosen not to. Sometimes it's good to be safe. No profit ? ok but no losses.

Hell, I would love to get in on this just to catch those violent swings, but the risk is soo high I have held off since I sold. At any minute that could be going to IPO price, which it should.

I left on the previous update (if you remember) and that was obviously a good idea. I went through every update here and that was always the same story: only words, no proof. The pressure was increasing and this time it imploded. I just don't know how Labcoin is going to get back the trust of their shareholders.

I don't understand why people hold LC at the moment. I mean, gambling is ok, but with these odds, I'm feeling kinda skeptical.

regarding AM shares this could be a perfect solution, but LC does not offer direct shares, so you have to knock on burnside's door to get that information.

oh good point lol

how do you want to know where the coins are from you receive on BTC-TC?

There's no reason to believe that's going to happen.

one of you guys who think LC is fraud, please answer:

will tuesday dividend be enough proof if the coins are more or less virgin and can be tracked to their relay address?

Dead cat over, really on the way down now.

These are actually the ones I read. Once every few days I'll browse through the thread to see if there is anything of content - needless to say it's usually disappointing.

I already sold. At this point it about finishing Labcoin so that no one else gets hurt.

Lets assume your right? (not imho) and now? you sell? or already sold? whats next?