[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 470.

Bitcycle

sr. member

Activity: 420

Merit: 250

Quote from: Luckybit on September 14, 2013, 01:39:06 AM

Quote from: drawingthesun on September 14, 2013, 01:35:58 AM

Remember its tanking because of the lie, the FUD isn't really FUD if its true and warranted.

They said they had a 2TH/s system and this week the MOST they can show for it is some PCB's with defects and a tray of chips.

Still doesn't make it a scam but it means they are probably lying which means the trust is now diminished. This crash shows that the market has no faith in Sam Noi.

At the same time it shows the market is incredibly irrational. Below IPO price is irrational. Below 0.002 is also irrational. They do have chips, they are a real company, they do seem to be working on it so it's probably not a scam. It's worth something to wait and see with a small investment but it's a gamble.

To have it below IPO means it's worthless and not even worth even a 1 BTC investment.

Doesn't matter if they have chips if they can't bring them online til the end of October.

Luckybit

hero member

Activity: 714

Merit: 510

Quote from: drawingthesun on September 14, 2013, 01:35:58 AM

Remember its tanking because of the lie, the FUD isn't really FUD if its true and warranted.

They said they had a 2TH/s system and this week the MOST they can show for it is some PCB's with defects and a tray of chips.

Still doesn't make it a scam but it means they are probably lying which means the trust is now diminished. This crash shows that the market has no faith in Sam Noi.

At the same time it shows the market is incredibly irrational. Below IPO price is irrational. Below 0.002 is also irrational. They do have chips, they are a real company, they do seem to be working on it so it's probably not a scam. It's worth something to wait and see with a small investment but it's a gamble.

To have it below IPO means it's worthless and not even worth even a 1 BTC investment.

AngelSky

hero member

Activity: 1008

Merit: 537

Good work labcoin. You lied to us and this is your reward.

N_S

full member

Activity: 238

Merit: 100

Quote from: somestranger on September 14, 2013, 01:32:24 AM

It is a complete scam. The PCBs don't even have circuitry or traces to run the chips!! They lied about hashing because they aren't, and the chips are probably fake.

Jesus. Christ.

I go away for a couple hours and here's Labcoin reduced to utter shame. To think that after this amount of time, the best picture they could muster is a couple dozen chips and a small stack of boards. Pitiful.

RIP Labcoin.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: Luckybit on September 14, 2013, 01:34:19 AM

That doesn't make it a scam. They could have fucked up or made a mistake. Most of these companies make similar mistakes but don't go on to make promises about paying dividends.

Don't forget they lied about hashing. If the PCB doesn't work how can they hash?

Bitcycle

sr. member

Activity: 420

Merit: 250

LOL @ that buyer.

AngelSky

hero member

Activity: 1008

Merit: 537

PLEASE WELCOME OUR EUROPEAN SHAREHOLDERS (I hope for them they bought @ IPO) THAT ARE WAKING UP.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Remember its tanking because of the lie, the FUD isn't really FUD if its true and warranted.

They said they had a 2TH/s system and this week the MOST they can show for it is some PCB's with defects and a tray of chips.

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: velacreations on September 14, 2013, 01:33:24 AM

This order got pulled!

SHIT JUST GOT REAL!

Even this guy won't be happy Grin

somestranger

hero member

Activity: 487

Merit: 500

Are You Shpongled?

Quote from: velacreations on September 14, 2013, 01:33:24 AM

This order got pulled!

SHIT JUST GOT REAL!

There was also a 15,000 share put option with net proceeds of .0011/share that got pulled. Confidence has disintegrated.

Bitcycle

sr. member

Activity: 420

Merit: 250

It's only 07:30 in Berlin too. Early days yet.

Luckybit

hero member

Activity: 714

Merit: 510

Quote from: somestranger on September 14, 2013, 01:32:24 AM

Quote from: Luckybit on September 14, 2013, 01:31:21 AM

Quote from: velacreations on September 14, 2013, 01:28:35 AM

whoa, .0015, man, Europe is tanking this thing for real!

Don't worry, it will recover to 0.002. It's worth 0.002, IPO would be if people think its a complete scam and I don't think that is what most people think. I think this is a panic selloff.

It is a complete scam. The PCBs don't even have circuitry or traces to run the chips!! They lied about hashing because they aren't, and the chips are probably fake.

That doesn't make it a scam. They could have fucked up or made a mistake. Most of these companies make similar mistakes but don't go on to make promises about paying dividends.

velacreations

sr. member

Activity: 476

Merit: 250

This order got pulled!

SHIT JUST GOT REAL!

mgio

hero member

Activity: 546

Merit: 500

Quote from: AngelSky on September 14, 2013, 01:17:17 AM

Quote from: mgio on September 14, 2013, 01:16:23 AM

That's it. I'm out.

Fortunately I only lost about 5 BTC on my 57 BTC investment.

Even if Labcoin is for real, they royally messed up and anyone with half a brain will be getting out now.

5 BTC is not too much. Hope you can do better with your 57 BTC left somewhere else Grin

It's only sad because that 57 was worth 80 just earlier today. Oh well, no big loss. I won't even care if Labcoin isn't a scam and they actually deliver what was promised. I'll always know I made the smart the decision. Right now buying Labcoin is no longer investing, it's just pure gambling.

somestranger

hero member

Activity: 487

Merit: 500

Are You Shpongled?

Quote from: Luckybit on September 14, 2013, 01:31:21 AM

Quote from: velacreations on September 14, 2013, 01:28:35 AM

whoa, .0015, man, Europe is tanking this thing for real!

Don't worry, it will recover to 0.002. It's worth 0.002, IPO would be if people think its a complete scam and I don't think that is what most people think. I think this is a panic selloff.

It is a complete scam. The PCBs don't even have circuitry or traces to run the chips!! They lied about hashing because they aren't, and the chips are probably fake.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: Luckybit on September 14, 2013, 01:31:21 AM

Quote from: velacreations on September 14, 2013, 01:28:35 AM

whoa, .0015, man, Europe is tanking this thing for real!

Don't worry, it will recover to 0.002. It's worth 0.002, IPO would be if people think its a complete scam and I don't think that is what most people think. I think this is a panic selloff.

Complete scam = 0
Labcoin lied about hashing = IPO

matt4054

legendary

Activity: 1946

Merit: 1035

** FRIENDLY REMINDER **

Quote from: bitrocket on September 14, 2013, 12:40:05 AM

****WARNING to all Labcoin Shareholders****

People there are no traces going to the chips on these circuit boards. There are no decoupling capacitors near the chips and there does not appear to be a ground plane on the board. Ask any of the DIY asic developers here on the forum and they will confirm that these things are absolutely necessary to create a working miner.

I was a big believer in Labcoin but i am completely out now. This is a disappointing end to what could have been a promising venture.

I welcome a realistic explanation from Labcoin but at this point I am seriously warning anyone to invest at their own risk.

Again, this is very serious, and I think the #1 worry for those who dare to hold! I think posting this pic was worse than posting nothing after all, because after reading a bit it looks seriously screwed indeed :-/

Vigil

sr. member

Activity: 378

Merit: 250

Quote from: AngelSky on September 14, 2013, 01:29:54 AM

Quote from: Vigil on September 14, 2013, 01:28:23 AM

Quote from: drawingthesun on September 14, 2013, 01:27:31 AM

Quote from: AngelSky on September 14, 2013, 01:26:01 AM

SUB-IPO = no more trust = SCAM.

If we go under IPO this is over. I wonder who the bagholders are going to be, all these people set 0.0015 as a buy thinking that will be awesome when it gets filled.

Hint, your buys got filled for a reason.

I was able to remove my .002 buy just in time - it almost struck.

I was wondering if I should buy some, but at this point I don't want something that no one wants.

I already lost 3.5 BTC today on some stupid moves - not risking any more. No way to know where this ends.

Luckybit

hero member

Activity: 714

Merit: 510

Quote from: velacreations on September 14, 2013, 01:28:35 AM

whoa, .0015, man, Europe is tanking this thing for real!

Don't worry, it will recover to 0.002. It's worth 0.002, IPO would be if people think its a complete scam and I don't think that is what most people think. I think this is a panic selloff.

Bitcycle

sr. member

Activity: 420

Merit: 250

If you bought on that 0.003 bounce, half your money is gone.

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 470. (Read 1079974 times)