Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 569. (Read 1079974 times)

Already we're seeing the conspiracy theories growing.

Today is going to be much worse than yesterday if they wait too long to update.

This place is the very definition of a fever swamp, and the disease is about to run wild.

I agree because they didn't show any evidence to prove the existence of the 2TH/s.

well it would make sense if you want nobody to know you don't have your 2 TH/s.

Most of the 400,000 AM shares are direct shares and are owned by people most would consider to have "strong hands". Many are in it simply for the dividends, and the exchange traded shares are a rather small percentage. LC is 100% exchange traded and I would suggest that large percentage of them are looking to profit from trading. The investment structures are very different, and the level of trust in AM is rather fanatical due to his track record. I doubt there are many invested in LC at the moment primarily in anticipation of collecting dividends each week.

That makes zero sense. Less TH/s there for solo mine?
And being shareholder.. Aren't we all ?

Maybe the reason they do solo mining is because they don't have the 2Th/s yet. I am a shareholder and really want things go well

When Labcoin has over a year of delivering results, then people will react differently when something happens.

Hell, we can't even get LC to show us that they are mining in the first place!

that is of course because Friedcat has shown in the past that he is credible and have kept his promises.

these labcoin clowns.. not so much.

That's probably because friedcat has payed 6 times IPO on dividends. He has earned trust

For comparison...

ASICMiner's stopped mining. No blocks for 15 hours now, no explanation.

Reaction on AM thread: a few short, fairly calm posts wondering what's happening & some good-natured jokes about Friedcat selling all the blades.

Can you imagine how this thread would have reacted? Bitcointalk would grind to a halt from so much troll FUD, sheep panic & animated GIFs of ponies throwing themselves out of windows.

Yeah, they need to update today with at least some sort of meaningful detail, or even I won't defend them.

TheSwede promised an update today.

Is the "update" coming today?

It's really important to keep the transparency of block mining to avoid stealing coins. However, it's really difficult too. They can easily prove they are mining, but not easy to prove all coins mined will go to the public pool. Nonetheless I will say we don't need to worry about this in this stage yet. With 2T, in average 1 block every 3 days can be mined. In other words, we can get around 9 BTC per day, 0.0000009BTC per share per day. BTW, it's totally possible to get nothing in a week considering they are solo mining.

50.116.37.18 resolves to
"li435-18.members.linode.com"
Top Level Domain: "linode.com"

You can check it yourself pretty easily here: https://www.misk.com/tools/?source=google&campaign=reversedns&key=reverse%20dns&medium=cpc&gclid=CNj6wK2Qw7kCFRR6cAodVGsA5g#whois/50.116.37.18
Or here: http://remote.12dt.com/lookup.php (you will have to paste the IP yourself)
Or here: http://whois.net/reverse-dns-ip-lookup/ (also have to paste yourself).

So that's 3 sources confirming the IP. Anything else?

For me 50.116.37.18 redirects to https://ltcexchange.bitparking.com/main

Thnx for the research

Wow, you're a pretty decent Private Investigator, Ytterbium. Thanks for actually taking time to do these things, and put in the work

Actually, my curiosity got the better of me - I started looking through the some of the recent blocks on blockexplorer, and found a couple IPs that just started relaying blocks in the past couple days.

The current difficulty is 86,933,018, so on average you need to compute 86,933,018 diff1 shares to find a block - one block requires 4 billion hashes. 2Th/s should find 500 Diff1 shares in a second, or 43 million shares a day. 86/43 = 2, so at 2Th/s you'd expect to find one block in two days at that rate, soo... labcoin should have found one block by now

Anyway, there's 50.116.37.18, the first of which was relayed on 9/10 @ 11:46  (I assume UTC)

So far it's relayed 4 blocks.  The first three blocks had their rewards sent to: 18cSDzSuRa4BtfKNu4qAPfeiS57uC9kER4 and the most recent went too 1KP4Lr8t42MDHhE6asnp8jd7QdfMiWeawr

Oh, and if you do a reverse DNS lookup on 50.116.37.18, it's owned by linode.com, which as we know is Labcoin's hosting provider.

Then there's 129.132.188.112, which has relayed two blocks and sent them to 1LZcEKMCFfg9ARpgw3jG3yZxAV5kPt8mM9.  The reverse DNS  resolves inf-isec-112.ethz.ch, which seems to belong to a Swiss university.

All the other blocks either belonged to known pools or seemed to be sending coins to addresses that had gotten lots of newly generated coins prior to 9/10, so likely long-standing mining farms.

Anyway, Labcoin should be telling us which blocks they've found, since they've been hashing for about two days they should have found one by now. If not - well that's a pretty clear example of why they shouldn't be solo mining.

self mining at 50th makes sense, at 4th makes 0 sense....
strange actions. comeon labcoin - do smart things and don't be scam