Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 515. (Read 1079974 times)

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.

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

This is not a scam. Everything is normal. Big companies do this all the time.



Ignore occam's razor. It's an evil tool used only by FUDsters.

Timer removed. End time: 2013-09-14+01:00:00UTC

Yeah, well I take your point it's annoying. But what I think is really happening is this: they were eager to start hashing. So they assembled a test PCB and started hashing with around 2TH/s and realized that there's still work to do to stabilize it. Perhaps their software doesn't allow joining a pool, perhaps there are some issues with the PCB, perhaps a few chips overheated... who knows.

What I know is that things very rarely work the first time, and what we can hope is that any issues are minor ones that can easily be fixed.

This is why they didn't want to post pictures before they stabilize the situation. And honestly, if they manage to do it in just a few days, it's really not bad, they must be working their assess off, not even sleeping in some nights. I've been there in other projects, I know how it feels like getting close to the deadline and some odd thing not working the way it's supposed to.

They said they will update tonight. Let's wait and see what they are going to say. But delays like these are pretty normal in big projects, even for the biggest companies that have years of experience.

I agree most of your opinions. But the things really annoy me are: 1 they said they've already mining 3 days ago without mention any difficulty. 2. Nothing prevent them from posting a photo of installment they promised long ago. These are the main reason caused the price fluctuation, not the FUDs all over this thread.

Yeah, I feel like the FUDsters have no idea what it's actually like to develop and ship software let alone custom hardware, let alone custom hardware plus the software they need to make that hardware actually work.

Other then the "it's a scam" stuff there are a number of possibilities

Worst case is there is something wrong with the chips that needs to be fixed in the next rev, in which case the delay is a month(?) or so

Next is some IC flaw that can be worked around somehow on the circuitboard or in software.

Then maybe a problem with the circuitboard, and they need to modify it or get new ones

Among the least bad would be some kind of software issue that they need to debug or finish.

My guess guess for the most likely probability is that they were so focused on the chips/circuitboards/deployment that they stopped software development once they got basic solo-mining working on their FPGAs, and can't connect to pools and need to modify the software to do block signing.

These people aren't stupid, and if they were scammers they would have just faked some evidence/started mining with hardware purchased with IPO funds.

Well I work in a big technology company and I know very well how these projects work. They are very complex, you need to coordinate a number of things, stakeholders, costs, milestones, risks, etc. and you simply can't be so precise to say "Sunday at 1pm we will have it working". This is always an estimate, and a number of unpredictable things can happen that force you to delay.

This is especially true when you are getting a new hardware to work for the first time. So I am not too worried here, they will get their act together. It's just that they know that it's more important to get the chips working and hashing than focus on answering forum questions.

Once the chips are hashing and stable, their new website is in place, more chips start arriving (and now they have more experience in making them work the first time), things will settle. These first days are always hectic.

Amazing sCamompany

They can be pretty annoying, but I think people who don't know enough to evaluate the risks should be scared off. A company should be able to prove it's claims empirically when people bring up reasonable questions or doubts. 

The non-reasonable stuff (like the crazy pixel detective stuff) isn't going to shake investors who have some understanding of what's going on and how the technology works. Those people you can put on ignore. A thread full of cheerleaders is a bad idea.

Plus, as long as you're still buying shares and not selling them, you actually benefit from the lower share price.

+1.

I hate these fudsters, but I have actually doubled my share count in the last week because prices were so cheap!

I'm still here, watching, waiting and laughing my arse off at you gullible fools who keep selling based on FUD, while the actual FUD spreaders are snapping up cheap shares.

Labcoin traders had better stock up on some options in case the price shoots up tomorrow (or crashes). I see a few reasonable ones in the sea of overpriced.

Anotheranony. In your reference, it was reported some company exposed nominee director's identity to keep the real owne anonymous. But in Labcoin's case, it is in the other way. The CEO's identity is public. The nominee director's identity is also public, just not verified. According to what TheSwede75 said "Sam posted update himself", then at least we know sometimes the account 'labcoin' represents Sam. There's also Wang Zhenghua (Howard Wang) in Shenzhen side. Identity wise, I mean only identity wise, it's more public than AM.

Actually I really don't want to defend for them at all. I dislike what they did as well. Just don't want to exaggerate the risk.

Yeah, crooks aren't always smart.  Just look at cedartech or xCrowd.  But these guys are smart.


I'm not saying that you should invest because I don't think it's a scam. I'm simply stating why I don't think it's a scam and why I think it's likely they'll have something tomorrow.  I could be wrong, of course, and if so It's going to cost me money.  On the other hand if I'm right I'll make money - but I think people will probably keep saying it's a scam anyway.

The way you make money speculating on a stock market is to predict the probability of various outcomes. The way you make predictions about the future is to estimate the probability of certain things being true now. You're basically saying I should just "forget" about trying to make predictions? That's completely ridiculous.  First of all, you can't just turn your brain off and stop thinking, and second of all, if I did how would I make any money?

Anyway, there are four basic probabilities

1) It's a scam and they won't have proof
2) It's a scam and they'll have fake proof
3) It's legit but they won't have proof due to technical difficulties.
4) It's legit and they will have proof.

#1 seems pretty implausible to me, and while #3 is a possibility it shouldn't be that big of a deal if they're straightforward about it.  The "it's a scam" people will obviously have a field day but at this point they obviously don't own any of the stock anymore.

#2 is an interesting possibility, it would imply that I'll make money even if they are (smart) scammers. But the problem is they've already had so many problems it's pretty unlikely that they're smart scammers, otherwise they would have faked proof a long time ago.

So the only plausable outcomes seem like #3 and #4, so I expect the stock to either drop a little (but stay above my average buy price) or spike up to at least 0.0038 or so. Maybe more.

TL;DR: They're not dumb scammers because they're dumb.  They're not smart scammers because if they were their scam would be going more smoothly. So either they're hashing, or the're having problems, and I don't really think the downside will be that bad if they have a reasonable explanation and plan for fixing those problems.


You said earlier there's no proof on the blockchain, but that's not correct.  There's at least one unsigned block (257612 that's gone to a totally new address 1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C.  So it is not the case that the blockchain is inconsistent with Labcoin's clams to be solo mining.   And, even that's not their block and they don't find one before their announcement, there would still be a 13% chance that they actually were hashing at 2Th/s.

Again, I'm not saying people should buy the stock if they don't feel comfortable, I'm just explaining why I'm not particularly worried at this point.

Get Ready only 18 hours to go ...or another Bs or excuse.

... are... are you joking, or are you just an idiot?

Jesus fucking christ, yet another fucking IF THIS WERE A SCAM THEY WOULD SCAM BETTER post. You realize crooks aren't always that smart? That they don't know how to think things through like an intelligent person who chooses not to scam. Forget all your BS about "if they were scamming" and think about the IF THEY WERE LEGIT!

All you suckers best case scenario is maybe they are having troubles and they lied about hashing (which is BEST case and most likely not even that good in your favor). Well lies are like cockroaches, where's there's 1 there's a bunch. You can't invest in a company that lies to you.... well I guess I can't, maybe you can.

This is a pretty old news, almost a month ago, if i am not wrong. Don't know why it is copied with a new date. It was published before MyMiner canceled their IPO.

Mumbles Banned in Thailand geez
http://qz.com/110164/thailands-infamous-bitcoin-crackdown-is-not-quite-what-it-seems/
In short: Thailand hasn’t yet worked out how to handle Bitcoin. And at least for the time being, many of Bitcoin Co Ltd’s rivals are still operational. In a telephone interview with Quartz, one Bangkok-based Bitcoin trader said that the central bank has made no attempt to contact him or his peers. “All these yellow newspapers are just printing rumors,” he said, “Bitcoin is legal in Thailand like in any other country.”