[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 537.

silvermario

member

Activity: 96

Merit: 10

How is it that the Picostocks 100TH mine is hashing with over 37 TH rate and don't want to solo mine for now because of the risks involved? The same was with Asicminer a couple months ago and Labcoin is supposedly solo mining with merely 2 TH hashrate without a pool.

Quote from: JaredR26 on September 11, 2013, 03:32:00 PM

Quote from: Isokivi on September 11, 2013, 01:05:49 PM

30 TH/s in surely enough to solo mine allready, about 6.5 blocks per 24h and paying over 5BTC in fees per 24h at it's current pool.

Quick update for you guys from Dave and the team.

You can see our current hashrate here:
http://www.btcguild.com/index.php?page=rankings§ion=teams

Team: MegaBigPower

We have discussed and decided that we will push back our estimate of when we will switch to solo mining. Solo mining is a big priority, no doubt, but solo mining gains approximately 3% of revenue and represents a substantial risk. The act of switching to solo mining is not a trivial matter because if a mistake is made or bug occurs, it can be hours or even a day of wasted shares before you know there is something wrong. This alone would account for more loss than the 3% guild fee, and from discussions/posts from Asicminer's switch to solo mining, we know it is not likely to be a problem-free process.

bobboooiie

hero member

Activity: 656

Merit: 500

Quote from: Bitcycle on September 12, 2013, 09:41:26 AM

Quote from: labcoin on September 12, 2013, 07:51:31 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.

This was my favorite part.

We will set up block labeling in...

2 weeks
Early October
Mid October.

All in one sentence.

the only thing missing is the NDA excuse

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: Bitcycle on September 12, 2013, 09:41:26 AM

Quote from: labcoin on September 12, 2013, 07:51:31 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.

This was my favorite part.

We will set up block labeling in...

2 weeks
Early October
Mid October.

All in one sentence.

AMAZING COMPANY.

Bitcycle

sr. member

Activity: 420

Merit: 250

Quote from: labcoin on September 12, 2013, 07:51:31 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.

This was my favorite part.

We will set up block labeling in...

2 weeks
Early October
Mid October.

All in one sentence.

creativex

sr. member

Activity: 434

Merit: 250

Quote from: Bitcycle on September 12, 2013, 09:23:28 AM

While it's virtually certain they aren't an outright scam (they'd be saying very different things), I do think it's likely they aren't really hashing.

Another possibility is that they are hashing, just not with their own chips.

Bitcycle

sr. member

Activity: 420

Merit: 250

While it's virtually certain they aren't an outright scam (they'd be saying very different things), I do think it's likely they aren't really hashing.

And so who knows when they will be?

ShroomsKit

hero member

Activity: 672

Merit: 500

Quote from: Bitcycle on September 12, 2013, 09:06:41 AM

It's hard to imagine how they could be handling this any worse.

Other than dissapearing completely it can't get any worse.

There must be more than 1 person involved right? How can there not be someone there who thinks "well, we might be doing something wrong here. Lets change that"?

I'm looking at what's happening and i just cannot believe it. It's just too weird.

Any 16 year old with no business experience could do a better job than they are doing.

Bitcycle

sr. member

Activity: 420

Merit: 250

It's hard to imagine how they could be handling this any worse.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: TMAN on September 12, 2013, 08:57:25 AM

That guy. No I'm not, but I do business all over the world and social norms are verry different on every continent. If you aren't happy please sell, fill my bids at under 0.0025 please do.

Not sure what culture you can fuck over your investors and then expect "respect"

Vigil

sr. member

Activity: 378

Merit: 250

Pictures forthcoming within 48hrs.

Let the countdown commence.

AngelSky

hero member

Activity: 1008

Merit: 537

So, here is the planning for the upcomming weeks:

Saturday: labcoin offline, sell-off
Sunday 23:59 PM labcoin: "sorry no time to post pictures"
Tuesday next week: "here are the pictures", then "it's a fake", "scam", "joke"
The whole next week: "we want the address to verify you are really hashing", *nothing*

What's next ?

TsuyokuNaritai

hero member

Activity: 574

Merit: 500

Can't believe I'm joining in with the stalking, but...

Labcoin just logged out.

TMAN

legendary

Activity: 1414

Merit: 1808

Exchange Bitcoin quickly-https://blockchain.com.do

That guy. No I'm not, but I do business all over the world and social norms are verry different on every continent. If you aren't happy please sell, fill my bids at under 0.0025 please do.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: TMAN on September 12, 2013, 08:49:44 AM

Language barriers and social norms are an issue here, lets give them respect and hopefully it will be returned this weekend

Give them respect? Please tell me that was a joke.

If not I wonder, are you that guy. You know, the one that everyone takes advantage of in real life?

The shareholders have been demanding some basic things. Pictures of the 2TH/s mining rig, an address of mined income, a explanation as to why they are solomining.

But nothing, they even have the fracking cheek to say "two weeks" BFL style.

But yeah, lets give them respect.

boyohi

full member

Activity: 182

Merit: 100

Quote from: AngelSky on September 12, 2013, 08:47:57 AM

Quote from: TsuyokuNaritai on September 12, 2013, 08:46:50 AM

I'm torn over whether to buy right now. I don't think it's a scam & I expect it will be worth lots next month, but the PR is so atrocious who knows how much cheaper I might be able to get it for before the weekend.

Same here.

I've already triple my position.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: TsuyokuNaritai on September 12, 2013, 08:46:50 AM

I'm torn over whether to buy right now. I don't think it's a scam & I expect it will be worth lots next month, but the PR is so atrocious who knows how much cheaper I might be able to get it for before the weekend.

Remember this turd is still 3x IPO.

And if they have 1% of the network the shares would work out to be 0.003

Thats right, if you buy now you are getting under 30% APR ROI if Labcoin maintains 1% of the network.

So no, the shares are not cheap right now, not sure what fantasy world you are living. The only way you can pretend they are cheap is if you know the herd will drive them up past 30% ROI which doesn't seem likely anymore.

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: TMAN on September 12, 2013, 08:49:44 AM

Language barriers and social norms are an issue here, lets give them respect and hopefully it will be returned this weekend

Do you feel respected here ? I don't.

TMAN

legendary

Activity: 1414

Merit: 1808

Exchange Bitcoin quickly-https://blockchain.com.do

Language barriers and social norms are an issue here, lets give them respect and hopefully it will be returned this weekend

AngelSky

hero member

Activity: 1008

Merit: 537

USA is waking up and they will just see the "soon (tm)", "in a few days (tm)", "in two weeks (tm)", "this week-end (tm)". Buy or sell ?

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: TsuyokuNaritai on September 12, 2013, 08:46:50 AM

I'm torn over whether to buy right now. I don't think it's a scam & I expect it will be worth lots next month, but the PR is so atrocious who knows how much cheaper I might be able to get it for before the weekend.

Same here.

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 537. (Read 1079974 times)