[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 514.

boyohi

full member

Activity: 182

Merit: 100

Quote from: TsuyokuNaritai on September 13, 2013, 09:01:36 AM

Quote from: AngelSky on September 13, 2013, 08:50:50 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.

Why do people find it so hard to parse this sentence? Undecided

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.

They never finished high school.

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: TsuyokuNaritai on September 13, 2013, 09:01:36 AM

Quote from: AngelSky on September 13, 2013, 08:50:50 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.

Why do people find it so hard to parse this sentence? Undecided

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.

in "about" two weeks (tm)
mid-october = end of october
so, in the BTC world it means in november.

TsuyokuNaritai

hero member

Activity: 574

Merit: 500

Quote from: AngelSky on September 13, 2013, 08:50:50 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.

Why do people find it so hard to parse this sentence? Undecided

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.

abuelau

hero member

Activity: 750

Merit: 500

www.coinschedule.com

Quote from: kleeck on September 13, 2013, 08:49:16 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.

Quote from: labcoin on September 09, 2013, 02:47:21 PM

The team is scattered on various countries, thus we have to coordinate to release anything. I'll see if i can get a screenshot of the hashing rate or something, but more pictures will be posted in the next few days, we will deploy the same mechanism ASICMINER uses for signing found blocks and publish them on our website.

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).

merv77

hero member

Activity: 574

Merit: 500

1.21 GIGA WATTS

it's also possible these guys aren't experienced in designing building deploying mining hardware, not to mention developing drivers.

so, it's also possible these guys did give it a go and failed, it's perfectly understandable if they didn't anticipate everything that can go wrong which can easily set them back a few days.

Let's just see what they do or say, and really it's best to be open and honest.

redbeans2012

hero member

Activity: 887

Merit: 1000

I own too many shares of this stock.

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: Bitcycle on September 13, 2013, 08:50:34 AM

Regardless of how good the news is, I think we all know the price will top out just under 0.004.

Grin

This is 821 BTC to be bought. Same amount to be sold means share price @ 0.002264

AngelSky

hero member

Activity: 1008

Merit: 537

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.

Bitcycle

sr. member

Activity: 420

Merit: 250

Regardless of how good the news is, I think we all know the price will top out just under 0.004.

Grin

kleeck

hero member

Activity: 532

Merit: 500

https://karatcoin.co

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.

Quote from: labcoin on September 09, 2013, 02:47:21 PM

The team is scattered on various countries, thus we have to coordinate to release anything. I'll see if i can get a screenshot of the hashing rate or something, but more pictures will be posted in the next few days, we will deploy the same mechanism ASICMINER uses for signing found blocks and publish them on our website.

bitcoiner49er

sr. member

Activity: 457

Merit: 250

If you are hashing from many locations aren't you effectively reducing the hash rate? Unless they are pooling all their miners into a Labcoin pool only open to their miners.

Bitcycle

sr. member

Activity: 420

Merit: 250

Possible reasons for setting an update out by 24 hours-

Hoping they can provide news they have fixed some problem. Coming clean in retrospect. Risky to the point of being stupid.

Hoping they have found a block, if they haven't already. Something they can point to as success. Risky, but odds favor them.

Gathering photos. Probably a factor in any case.

AngelSky

hero member

Activity: 1008

Merit: 537

APPL keynote syndrome

abuelau

hero member

Activity: 750

Merit: 500

www.coinschedule.com

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.

demzie

sr. member

Activity: 266

Merit: 250

For once i agree with vela..

I dont understand why they even set a time limit for themselves, they cut their own fingers if they just give words again..

velacreations

sr. member

Activity: 476

Merit: 250

Quote from: Bitcycle on September 13, 2013, 08:19:10 AM

I'm assuming they have the good sense to only be updating with good news - ie they really are hashing.

If they're going to backtrack and say they aren't, they should have just kept their mouth shut since most the damage had already been done and the price had stabilized.

Well, if they say they are hashing, then they've only started, so they missed several days and lied about things being ok. Credibility is damaged.

If they haven't resolved the issues, then I think it is best to come clean. Yes, the stock will tank, but they will regain credibility, so when they do get it fixed, some people will reinvest.

I really don't think they have learned how to do PR over night, so I expect them to fumble on this one, too. You know, at that 48 hour deadline, that would have been the perfect time to come clean and save the credibility.

If it's just words, then thing will implode FAST. Even with just photos, we're gonna see a nosedive.

And I assume they won't even acknowledge the locking of the shares, everyone forgot about that...

AngelSky

hero member

Activity: 1008

Merit: 537

Poll: https://bitcointalksearch.org/topic/labcoin-update-13th-september-293588

Bitcycle

sr. member

Activity: 420

Merit: 250

I'm assuming they have the good sense to only be updating with good news - ie they really are hashing.

If they're going to backtrack and say they aren't, they should have just kept their mouth shut since most the damage had already been done and the price had stabilized.

Bitcycle

sr. member

Activity: 420

Merit: 250

Quote from: AngelSky on September 13, 2013, 08:15:14 AM

Quote from: Bitcycle on September 13, 2013, 08:12:23 AM

Quote from: AngelSky on September 13, 2013, 08:04:45 AM

Let me guess. The update is going to be: "Here are 3 pictures" and that's all. Now -> end of Octobre = no mining address = people contesting photos = FUD

Words alone destroy the stock.

Pictures alone harm it.

There's is ZERO reason not to provide an address. None. This is something they have to do.

So, what do you think they will provide ?
1) nothing
2) words
3) pictures
4) address
5) 2+3
6) 2+4
7) 2+3+4

I think they're probably planning on words + pictures.

That won't do it, though.

They've got to provide an address.

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: Bitcycle on September 13, 2013, 08:12:23 AM

Quote from: AngelSky on September 13, 2013, 08:04:45 AM

Let me guess. The update is going to be: "Here are 3 pictures" and that's all. Now -> end of Octobre = no mining address = people contesting photos = FUD

Words alone destroy the stock.

Pictures alone harm it.

There's is ZERO reason not to provide an address. None. This is something they have to do.

So, what do you think they will provide ?
1) nothing
2) words
3) pictures
4) address
5) 2+3
6) 2+4
7) 2+3+4

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 514. (Read 1079974 times)