[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 513.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: TsuyokuNaritai on September 13, 2013, 10:01:10 AM

Burnside confirmed the shares they promised to keep still have kept still.

Burnside also confirmed that no shares have been locked, nor has there been any request to lock said shares.

Quote from: TsuyokuNaritai on September 13, 2013, 10:01:10 AM

Not sure what "pictures by hashing" means, but they've said they'll show proof of the hashing at the start or middle of October.

that was supposed to read "pictures BEFORE hashing". You know, another broken promise they made to post photos before they started hashing. But, actually, if they post photos now, they might keep that promise, cause it's pretty obvious they are not hashing.

They first said they would show proof of hashing this week. Now, it's been moved to October. What next? November?

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: abuelau on September 13, 2013, 09:59:50 AM

You are assuming they are hashing with a board connected to a PC using cgminer. Do you know that for a fact? Are you sure it's so easy to join a pool? Maybe they have their own miner that doesn't connect to a pool but instead talks to the Bitcoin client via JSON-RPC.

so posting the mining address would be really, really hard and time consuming?

TsuyokuNaritai

hero member

Activity: 574

Merit: 500

Quote from: velacreations on September 13, 2013, 09:42:40 AM

Quote from: abuelau on September 13, 2013, 09:28:32 AM

Right. Just don't expect to get that address today. You won't. They made it very clear that it will come later.

no one is going to buy in based on promises, anymore. They've shown that they can't keep 'em (pictures by hashing, locking shares, 48 hours, etc, etc)

"48 hours" - the update had already been made. A few people even pointed this out well before Swede did.
Burnside confirmed the shares they promised to keep still have kept still.
Not sure what "pictures by hashing" means, but they've said they'll show proof of the hashing at the start or middle of October.

abuelau

hero member

Activity: 750

Merit: 500

www.coinschedule.com

Quote from: velacreations on September 13, 2013, 09:53:16 AM

Quote from: abuelau on September 13, 2013, 09:47:41 AM

Yes, you have to WAIT. We are not talking about someone baking a cake. We are talking about a massive operation, creating a PRODUCT with a team of people that involves hardware AND software. Have you any idea how difficult this is to coordinate?

it's very easy to join a pool and prove that they are indeed hashing. It is very easy to publish the mining address. It is very easy to let investors know what the hell is going on.

There are no excuses for keeping back this information. The only logical reason they would hold back this information is the fact that they are not hashing.

Quote from: abuelau on September 13, 2013, 09:47:41 AM

But the dividends... this is why I buy shares. If they miss it even by a single day, I will be here and I will be very unhappy, and will probably sell half of my shares.

dividends have to come from somewhere. If they are not hashing, where does that money come from? Pirate40 paid dividends, too (for a while).

Sure, I too want to know that they are hashing, I am just saying that I am perfectly fine waiting until October to get that proof, as long as they keep the dividends dates intact.

You are assuming they are hashing with a board connected to a PC using cgminer. Do you know that for a fact? Are you sure it's so easy to join a pool? Maybe they have their own miner that doesn't connect to a pool but instead talks to the Bitcoin client via JSON-RPC.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: abuelau on September 13, 2013, 09:47:41 AM

Yes, you have to WAIT. We are not talking about someone baking a cake. We are talking about a massive operation, creating a PRODUCT with a team of people that involves hardware AND software. Have you any idea how difficult this is to coordinate?

it's very easy to join a pool and prove that they are indeed hashing. It is very easy to publish the mining address. It is very easy to let investors know what the hell is going on.

There are no excuses for keeping back this information. The only logical reason they would hold back this information is the fact that they are not hashing.

Quote from: abuelau on September 13, 2013, 09:47:41 AM

But the dividends... this is why I buy shares. If they miss it even by a single day, I will be here and I will be very unhappy, and will probably sell half of my shares.

dividends have to come from somewhere. If they are not hashing, where does that money come from? Pirate40 paid dividends, too (for a while).

abuelau

hero member

Activity: 750

Merit: 500

www.coinschedule.com

Yes, you have to WAIT. We are not talking about someone baking a cake. We are talking about a massive operation, creating a PRODUCT with a team of people that involves hardware AND software. Have you any idea how difficult this is to coordinate?

To me the only real deadline is the payment of the first dividend next week and the following ones. If that fails, I will be worried. But all this fuss about pictures, addresses... I don't care so much, they could come a few days earlier, a few days later... not a big issue.

But the dividends... this is why I buy shares. If they miss it even by a single day, I will be here and I will be very unhappy, and will probably sell half of my shares.

physalis

sr. member

Activity: 392

Merit: 250

Quote from: abuelau on September 13, 2013, 09:32:39 AM

Quote from: labcoin on September 12, 2013, 06:51:31 AM

We do not have 10 TH of chips out of nowhere, we said that we will setup block labeling as soon as we reach that speed, which could be on the first days of october, so in "about" two weeks, or mid october. We will outsource deployment and assembly for the next batch of chips so that we will proceed at a much faster pace in the future.

So.... they won't do the same thing twice. They will deal with the "people want to see the blocks" issue only once, and that's by implementing block labeling in OCTOBER.

You actually plan to wait until OCTOBER before you get any friggin evidence on that they're hashing?
Man, I want to have your faith. But actually though, I don't.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: abuelau on September 13, 2013, 09:28:32 AM

Right. Just don't expect to get that address today. You won't. They made it very clear that it will come later.

then expect the stock to tank. simple as that.

no one is going to buy in based on promises, anymore. They've shown that they can't keep 'em (pictures by hashing, locking shares, 48 hours, etc, etc)

They promised the block stamps this week, now they moved that until October. Interesting how these deadlines keep moving...

abuelau

hero member

Activity: 750

Merit: 500

www.coinschedule.com

Quote from: labcoin on September 12, 2013, 06:51:31 AM

We do not have 10 TH of chips out of nowhere, we said that we will setup block labeling as soon as we reach that speed, which could be on the first days of october, so in "about" two weeks, or mid october. We will outsource deployment and assembly for the next batch of chips so that we will proceed at a much faster pace in the future.

So.... they won't do the same thing twice. They will deal with the "people want to see the blocks" issue only once, and that's by implementing block labeling in OCTOBER.

Bitcycle

sr. member

Activity: 420

Merit: 250

Quote from: abuelau on September 13, 2013, 09:28:32 AM

Quote from: velacreations on September 13, 2013, 09:27:19 AM

Quote from: abuelau on September 13, 2013, 09:21:15 AM

Yeah, everything can be faked my friend. Even the address you praise so much, they could have bought some used Avalons with the IPO money... in truth, we will only know 100% that everything was legit, around January 2014 when enough dividends were paid to cover to more than double the IPO price. Before that, I'm afraid you'll just have to ride the wave.

yeah, but at least with an address and stamped blocks, we know they are hashing. Sure, it might not be on their hardware, but it is at least hashing.

Their credibility is at stake right now. They mess this one up, and no one will give a shit about LC in Jan 2014.

Right. Just don't expect to get that address today. You won't. They made it very clear that it will come later.

Where exactly was this made "very clear"?

abuelau

hero member

Activity: 750

Merit: 500

www.coinschedule.com

Quote from: velacreations on September 13, 2013, 09:27:19 AM

Quote from: abuelau on September 13, 2013, 09:21:15 AM

Yeah, everything can be faked my friend. Even the address you praise so much, they could have bought some used Avalons with the IPO money... in truth, we will only know 100% that everything was legit, around January 2014 when enough dividends were paid to cover to more than double the IPO price. Before that, I'm afraid you'll just have to ride the wave.

yeah, but at least with an address and stamped blocks, we know they are hashing. Sure, it might not be on their hardware, but it is at least hashing.

Their credibility is at stake right now. They mess this one up, and no one will give a shit about LC in Jan 2014.

Right. Just don't expect to get that address today. You won't. They made it very clear that it will come later.

moneymanagment

full member

Activity: 158

Merit: 100

Quote from: abuelau on September 13, 2013, 09:21:15 AM

Quote from: velacreations on September 13, 2013, 09:18:46 AM

Quote from: abuelau on September 13, 2013, 09:17:44 AM

Pictures may be worthless to you, but where I come from they are worth 1000 words.

I will be happy with pictures. Showing the miner (even if it looks pretty rubish) and a screenshot of cgminer or whatever showing 2TH/s +/- 25%.

they are really worth 2 words: easily faked

Yeah, everything can be faked my friend. Even the address you praise so much, they could have bought some used Avalons with the IPO money... in truth, we will only know 100% that everything was legit, around January 2014 when enough dividends were paid to cover to more than double the IPO price. Before that, I'm afraid you'll just have to ride the wave.

Thank you, somebody has a understanding of the nature in which we long term entrepreneurial investors think.
Anything can be faked. Whats the point in investing in any bitcoin stock, they could all be elaborate scams? Ha ha, some people will just come up with a million excuses as to why their too p***Y to invest and hold. their emotions over take. Yes you lambaugh

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: abuelau on September 13, 2013, 09:21:15 AM

Yeah, everything can be faked my friend. Even the address you praise so much, they could have bought some used Avalons with the IPO money... in truth, we will only know 100% that everything was legit, around January 2014 when enough dividends were paid to cover to more than double the IPO price. Before that, I'm afraid you'll just have to ride the wave.

yeah, but at least with an address and stamped blocks, we know they are hashing. Sure, it might not be on their hardware, but it is at least hashing.

Their credibility is at stake right now. They mess this one up, and no one will give a shit about LC in Jan 2014.

klee

legendary

Activity: 1498

Merit: 1000

Quote from: oxideNL on September 13, 2013, 09:07:08 AM

Quote from: redbeans2012 on September 13, 2013, 08:54:45 AM

I own too many shares of this stock.

Hehe nice one Cheesy

abuelau

hero member

Activity: 750

Merit: 500

www.coinschedule.com

Quote from: velacreations on September 13, 2013, 09:18:46 AM

Quote from: abuelau on September 13, 2013, 09:17:44 AM

Pictures may be worthless to you, but where I come from they are worth 1000 words.

I will be happy with pictures. Showing the miner (even if it looks pretty rubish) and a screenshot of cgminer or whatever showing 2TH/s +/- 25%.

they are really worth 2 words: easily faked

Yeah, everything can be faked my friend. Even the address you praise so much, they could have bought some used Avalons with the IPO money... in truth, we will only know 100% that everything was legit, around January 2014 when enough dividends were paid to cover to more than double the IPO price. Before that, I'm afraid you'll just have to ride the wave.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: abuelau on September 13, 2013, 09:17:44 AM

Pictures may be worthless to you, but where I come from they are worth 1000 words.

I will be happy with pictures. Showing the miner (even if it looks pretty rubish) and a screenshot of cgminer or whatever showing 2TH/s +/- 25%.

they are really worth 2 words: easily faked

abuelau

hero member

Activity: 750

Merit: 500

www.coinschedule.com

Quote from: velacreations on September 13, 2013, 09:13:35 AM

Quote from: abuelau on September 13, 2013, 08:40:49 AM

What Labcoin has promised are PICTURES. He never said anything about providing an address.... so if that's what you are expecting, prepare to be disappointed.

They are hashing solo, it would take a couple of days to find a block. And if they are indeed having to fix some last minute issues, they could well have the miner turned off for most part of the last days, so they may not even have found a block yet, and therefore there is no address to share.

pictures are worthless, and address and stamped blocks are proof of hashing. That's what people want, proof of hashing.

if they haven't found a block by now, chances are, they haven't been hashing since they said they were. And if they are not, why haven't they told us?

Quote from: abuelau on September 13, 2013, 08:56:38 AM

Nah, he said he would provide the ASICMINER signing mechanism LATER, not TODAY. TODAY he promised pictures (actually he promised pictures by the weekend, so we may not even get pictures today).

actually, they promised pictures before hashing started.

So, if they post pictures today, we can probably assume hashing hasn't started... Grin

Pictures may be worthless to you, but where I come from they are worth 1000 words.

I will be happy with pictures. Showing the miner (even if it looks pretty rubbish) and a screenshot of cgminer or whatever showing 2TH/s +/- 25%.

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: abuelau on September 13, 2013, 08:40:49 AM

What Labcoin has promised are PICTURES. He never said anything about providing an address.... so if that's what you are expecting, prepare to be disappointed.

They are hashing solo, it would take a couple of days to find a block. And if they are indeed having to fix some last minute issues, they could well have the miner turned off for most part of the last days, so they may not even have found a block yet, and therefore there is no address to share.

pictures are worthless, and address and stamped blocks are proof of hashing. That's what people want, proof of hashing.

if they haven't found a block by now, chances are, they haven't been hashing since they said they were. And if they are not, why haven't they told us?

Quote from: abuelau on September 13, 2013, 08:56:38 AM

Nah, he said he would provide the ASICMINER signing mechanism LATER, not TODAY. TODAY he promised pictures (actually he promised pictures by the weekend, so we may not even get pictures today).

actually, they promised pictures before hashing started.

So, if they post pictures today, we can probably assume hashing hasn't started... Grin

AngelSky

hero member

Activity: 1008

Merit: 537

If you missed the poll: https://bitcointalksearch.org/topic/labcoin-update-13th-september-293588

oxideNL

member

Activity: 82

Merit: 10

Quote from: redbeans2012 on September 13, 2013, 08:54:45 AM

I own too many shares of this stock.

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 513. (Read 1079974 times)