Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 589. (Read 1079974 times)

Your money may very well be gone if you wait a few days. Honestly though, by the looks of how stupid the investors are in this scam, you may very well be able to pull a profit if you catch the div pump. The fact that this thing hasn't crashed is beyond me. This is 1000% without a doubt a scam.

its going to be hilarious when they post everything people whining about over here lol

As of right now there's a hundred things scamcoin could be better off doing but they can't because it will blow their cover.

What's your role in this company anyway? You start a multi-million dollar company and then right away you decide to go travel where you have no internet to communicate? Jesus christ people... read the writing on the walls.

actually a block every 2-3 days kind of half makes sense....especially if they have more coming online...

This is really interesting....

how hard is it to take a photo and post it?

how hard is it to make public the address which the mining ops are aimed at?

why solo mine with 2 th?

I'd be happy if they put down their soldering irons for 30 seconds to address any one of these question...

This is exactly what they are going to do. They already have a dividend date on the 17th iirc. They have a dividend date but they couldn't put up a picture. Give me a fucking break. They will pay the dividend without yet even proving they are hashing their own chips. All the idiots will invest on the div and they cash out.

Damm where are all the trolls @? I want cheap shares...

As an outsider looking in, solo mining is just throwing away money. At the speed at which you expect to deploy your hardware, and the speed the network is growing, you need to get as much of a cut as you can for your shareholders before it's too late. The variance could mean negligible profit before the next difficulty change. Once you have enough hashrate that solo mining is practical, it's a different question, but in a month what do you think the difficulty is going to be?

This is not in the best interests of your shareholders.

Not saying this is a scam (doesn't seem like it yet) but just because they didn't run off with the IPO money doesn't mean it's legit. If this were a scam, a pretty clever approach would be to payout dividends until the share price skyrockets, and sell x% of the shares to cover the dividend payouts and then some. You could make bank just on speculation alone. Then vanish with your riches and maximal proceeds not having spent a dime on actual manufacturing. At least someone is going to try this eventually.

At this point I would buy LC even if it's a scam, because these guys are smart enough to take it all the way.

Hi TheSwede75, earlier labcoin said this:


While I recognize that this was stated very recently, is there a time frame set for the implementation of this mechanism? Given that labcoin has chosen to solo mine, this more than anything else would, IMO, remove any lingering doubt as to the authenticity of your company's claims.

In the law of large numbers solo mining is always the most profitable. There isn't a certain hash rate at which solo mining is more profitable. Quit rambling. For the sake of the shareholders it would have been more beneficial to pay your pool % for a day or 2 to prove you were actually hashing.

That threshold isn't 2Th, given the variance. You could find a ton of blocks right away, but it's entirely possible you might skip an entire difficulty period sitting around waiting to find a block if that happens, you actually permanently lose out on potential blocks. It's not necessarily a thing where it all evens out in the long run.

I'd rather not have random luck determine the value of the shares at this point in time.  When you guys get up to 20-30Th/s it might be more reasonable.

I think BTCGuild's PPLNS is a pretty good deal.  You guys could setup labcoin 'team' on there, making it easy for people to verify your hashrate.

The fact that they are even bad at scamming makes for a good reason to invest.

TY for the update.

+1

Could you publish the mining address plz?

Thanks for the update, always nice to hear news good or bad

It would be nice to see some proof of hashing though.  Not because I don't believe them, just as a big FU to the haters.

I love how the lack of pics is supposed to be "proof" that it's a scam, as if scammers couldn't just make a fake pic or two.  How hard do you think would be for some scammers to make their own circuit boards?  They raised seven hundred thousand dollars.

If this was somehow a scam, they could have simply bought some Bitforce chips, relabeled them, put them on a custom designed circuit board and taken pictures.  They could even have sent out sample hashing boards to people, then taken tons of order money to double up on their scam and reap huge scam-profits.

In fact, if it's a scam, why no slick website with pre-ording options? Why not pre-order ads on the site? Why aren't they constantly trying to work the site and raise as much money as possible - I mean, look at how much effort HashFast puts in to advertising and promotion in threads? (IMO they are something of a scam, their products are unlikely to ROI very quickly, if ever)

If these guys are scammers, then they are the laziest scammers ever. They could have raised way more money in the IPO.  They could have raised a ton of money doing pre-orders using the IPO money as proof of their abilities.  They could have made tons of fake pics, made fake boards, etc.

The're likely just busy doing the stuff you need to do to setup a mining operation.

Solo mining becomes a winning proposition at a certain hash rate since pool fees can be avoided and possible pol down time/DDOS becomes a non issue.

Labcoin will also report hash rate so transparency will not be an issue if that is a concern.

I have gotten a few PM's and just wanted to show up and ensure people that I have not disappeared. I talked to Sam and there will be an update in the next 48 hours.

I am traving but will coordinate with Sam and update the forum, blogs and other news sources as we have info.

TLDR: not dead, info coming. I meant to update earlier but have been somewhat out of Internet due to travel.