[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 63.

bitmoon

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Quote from: drawingthesun on October 08, 2013, 01:21:34 AM

Quote from: BitThink on October 08, 2013, 01:18:43 AM

Actually now you are suggesting people to hold the shares in the hope of they finally refund them.

Actually I am not suggesting to hold the shares, if this is a scam I expect a buyback at some point but I doubt it would be anything significant. Think of Labcoin and Active Mining as a stupid tax.

I would think a reasonable buyback at 0.0001 otherwise they are just giving bitcoin away.

Disclaimer: I held Labcoin and sold, but I also hold Active Mining and am one of the "stupids" unfortunately Sad

EDIT: remember the buyback amount depends on how many shares they have acquired using other accounts. If I am wrong and they hold less than 95% of shares, then the buyback would have to be far less than 0.0001 to make the scam worthwhile. If they hold 99%, they might just not bother with a buyback at all because not enough people will be left to complain.

Labcoin owns 99% shares, reasonable buyback = 0 (no point, not enough share holders to complain)
Labcoin owns 98% shares, reasonable buyback = 0.00015
Labcoin owns 95% shares, reasonable buyback = 0.0001
Labcoin owns 90% shares, reasonable buyback = 0.00005
Labcoin owns 80% shares, reasonable buyback = 0.00001

well when btct shuts down, then this so called electronic shares, vanished, they can delete logs they have, and dissolve labcoin project from itec, so i mean as if they gonna care about buyback, and shares it self, the whole thing.

they can dump the remaing 2million or so and run away now, yet they didnt, wait a min, maybe they did dump all share slowly after we knew the 2million share left, and only investors are ripping them selfs

drawingthesun

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Quote from: BitThink on October 08, 2013, 01:44:10 AM

Apparently Fabriazio and Allesia Totti need to be reported to the police as soon as possible. Fabriazio is who running the company and signed the contract. Both TheSeven and Howard can prove Allesia is the one hired them and initiated this project and she was still involved at least on 20 Aug (she contacted Howard that time). They know whether 'Sam' exists or not. But even 'Sam' exists, they are as liable as him.

Well if these people have scammed everyone they need to be doxxed asap. I get the feeling they are going to get away with it.

BitThink

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Quote from: drawingthesun on October 08, 2013, 01:33:09 AM

Quote from: BitThink on October 08, 2013, 01:30:06 AM

Yes, I've sold all my shares. But it does not mean we have no right to sue them without shares. Scam has to be punished no matter we do or don't have their shares.

Well I wish you luck, the scamming in this community has to stop as its just disgusting.

But who do you sue? From what I have read every employee is passing the buck around. Someone has thousands of Bitcoin and needs to be taken down, but who?

Apparently Fabriazio and Allesia Totti need to be reported to the police as soon as possible. Fabriazio is who running the company and signed the contract. Both TheSeven and Howard can prove Allesia is the one hired them and initiated this project and she was still involved at least on 20 Aug (she contacted Howard that time). They know whether 'Sam' exists or not. But even 'Sam' exists, they are as liable as him.

dexX7

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Quote from: bitmoon on October 08, 2013, 01:39:08 AM

...

Don't blame it on others, especially not those who are trying to help now.

BitCsByBit

sr. member

Activity: 252

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BTC Garden had to cancel their IPO but they still managed to produce ASIC chips and they have pictures to prove it!!!

http://imgur.com/ZovSsoO,R7NLNCy,D3JuFnL,979ZS0L,nRX6Jbw,6lgZaOP#0

bitmoon

sr. member

Activity: 242

Merit: 250

i should have followed creative when he dumped out, i believed there few first promises, then doubt, then too late, dont forget, cuase theseven was in team, which made me stay.

pfff , WTF guys, something came into my head just now

labcoin when they started ipo-ing, they had howard guy in as team on contract tab, now it came to light from howard emails that he left the team before labcoin was listed.

therefore why the hell they listed howard in contract, even tho he is gone, lol my red bell just ringed.

also in email when he said, he found out later about labcoin listed, then why the hell he didnt alert investors that labcoin is using his name in contract.

Wow, i am having unbelievable moment right now, disgusting when i think about it. i fkin wish btcgarden is alive and labcoin gone before ipo lol, thats how i feel

drawingthesun

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Quote from: BitThink on October 08, 2013, 01:30:06 AM

Yes, I've sold all my shares. But it does not mean we have no right to sue them without shares. Scam has to be punished no matter we do or don't have their shares.

Well I wish you luck, the scamming in this community has to stop as its just disgusting.

But who do you sue? From what I have read every employee is passing the buck around. Someone has thousands of Bitcoin and needs to be taken down, but who?

BitThink

legendary

Activity: 882

Merit: 1000

Quote from: drawingthesun on October 08, 2013, 01:26:09 AM

Quote from: BitThink on October 08, 2013, 01:22:14 AM

Moreover, even they buyback all the shares at current price. They are still guilty and the witch hunting should not stop at all. We should not tolerate any scam if we want a better bitcoin world.

But ask yourself, who has shares left? Almost everyone is gone and has moved on. Only the last shareholder might complain.

Yes, I've sold all my shares. But it does not mean we have no right to sue them without shares. Scam has to be punished no matter we do or don't have their shares.

drawingthesun

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Activity: 1176

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Quote from: BitThink on October 08, 2013, 01:27:00 AM

I don't think Labcoin is similar to ActM. ActM at least has a contract with eAsic and it's possible for them to get real chips and build real mining rigs. Labcoin is just one-man keeps lying.

They are different, Labcoin is 99% a scam and ActiveMining is just too far behind.

ActiveMining was meant to have several TH/s in August, we are that far behind now.

EDIT: In fact Labcoin had more hashpower than ActM at one point.

bclcjunkie

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Activity: 833

Merit: 1001

correct... and if that buyback materializes then it's considered deliberate act and would cause even more revolt.. they are already liable for my share losses and i'd hold their asses even more liable for making me sell shares at a loss so that they could buy them back... doesn't make sense to me...

Quote from: BitThink on October 08, 2013, 01:22:14 AM

Moreover, even they buyback all the shares at current price. They are still guilty and the witch hunting should not stop at all. We should not tolerate any scam if we want a better bitcoin world.

BitThink

legendary

Activity: 882

Merit: 1000

Quote from: drawingthesun on October 08, 2013, 01:21:34 AM

Quote from: BitThink on October 08, 2013, 01:18:43 AM

Actually now you are suggesting people to hold the shares in the hope of they finally refund them.

Actually I am not suggesting to hold the shares, if this is a scam I expect a buyback at some point but I doubt it would be anything significant. Think of Labcoin and Active Mining as a stupid tax.

I would think a reasonable buyback at 0.0001 otherwise they are just giving bitcoin away.

Disclaimer: I held Labcoin and sold, but I also hold Active Mining and am one of the "stupids" unfortunately Sad

I don't think Labcoin is similar to ActM. ActM at least has a contract with eAsic and it's possible for them to get real chips and build real mining rigs. Labcoin is just one-man keeps lying.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: BitThink on October 08, 2013, 01:22:14 AM

Moreover, even they buyback all the shares at current price. They are still guilty and the witch hunting should not stop at all. We should not tolerate any scam if we want a better bitcoin world.

But ask yourself, who has shares left? Almost everyone is gone and has moved on. Only the last shareholder might complain.

BitThink

legendary

Activity: 882

Merit: 1000

Moreover, even they buyback all the shares at current price. They are still guilty and the witch hunting should not stop at all. We should not tolerate any scam if we want a better bitcoin world.

drawingthesun

legendary

Activity: 1176

Merit: 1015

Quote from: BitThink on October 08, 2013, 01:18:43 AM

Actually now you are suggesting people to hold the shares in the hope of they finally refund them.

Actually I am not suggesting to hold the shares, if this is a scam I expect a buyback at some point but I doubt it would be anything significant. Think of Labcoin and Active Mining as a stupid tax.

I would think a reasonable buyback at 0.0001 otherwise they are just giving bitcoin away.

Disclaimer: I held Labcoin and sold, but I also hold Active Mining and am one of the "stupids" unfortunately Sad

EDIT: remember the buyback amount depends on how many shares they have acquired using other accounts. If I am wrong and they hold less than 95% of shares, then the buyback would have to be far less than 0.0001 to make the scam worthwhile. If they hold 99%, they might just not bother with a buyback at all because not enough people will be left to complain.

Labcoin owns 99% shares, reasonable buyback = 0 (no point, not enough share holders to complain)
Labcoin owns 98% shares, reasonable buyback = 0.00015
Labcoin owns 95% shares, reasonable buyback = 0.0001
Labcoin owns 90% shares, reasonable buyback = 0.00005
Labcoin owns 80% shares, reasonable buyback = 0.00001

BitThink

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Activity: 882

Merit: 1000

Quote from: drawingthesun on October 08, 2013, 01:11:06 AM

Quote from: bitmoon on October 07, 2013, 09:55:56 PM

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.

Do you want to know what the most likely case is?

They have been buying shares back for a while now and have no need to dump. Most of the investors have already got out even taking huge loses.

At the end of this saga, they will own 95% of the company and have several thousand Bitcoin to spare (as they started to buy back shares after they fell past IPO price)

Once they have drawn this out for long enough they will offer the small amount of remaining shareholders a buyback price. Only a few hundred thousand shares will remain and it will stop the witch hunt that might follow.

Think about it, now they don't need to worry about 95% of the shareholder because only a few remain. They are the majority shareholder. They could even pay out 100% of remaining funds NOW to the shareholders and they would in effect pay off the 5% of real shareholders left and they get the rest.

Not bad for a few months work (3000 - 6000 bitcoin left)

Remember IPO funds were for 65nm, and we never even got the legacy 130nm to work.

EDIT: I doubt the bagholders will see this as I am on their ignore list after telling people to sell at 0.002

Actually now you are suggesting people to hold the shares in the hope of they finally refund them. Not a bad idea, but that really needs a lot of pressure from the community. They will not refund if not being pushed hard enough.

drawingthesun

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Activity: 1176

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Quote from: bitmoon on October 07, 2013, 09:55:56 PM

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.

Do you want to know what the most likely case is?

They have been buying shares back for a while now and have no need to dump. Most of the investors have already got out even taking huge loses.

At the end of this saga, they will own 95% of the company and have several thousand Bitcoin to spare (as they started to buy back shares after they fell past IPO price)

Once they have drawn this out for long enough they will offer the small amount of remaining shareholders a buyback price. Only a few hundred thousand shares will remain and it will stop the witch hunt that might follow.

Think about it, now they don't need to worry about 95% of the shareholder because only a few remain. They are the majority shareholder. They could even pay out 100% of remaining funds NOW to the shareholders and they would in effect pay off the 5% of real shareholders left and they get the rest.

Not bad for a few months work (3000 - 6000 bitcoin left)

Remember IPO funds were for 65nm, and we never even got the legacy 130nm to work.

EDIT: I doubt the bagholders will see this as I am on their ignore list after telling people to sell at 0.002

bclcjunkie

hero member

Activity: 833

Merit: 1001

+1 come on guys have some ethics this shit stock aint worth pumping and passing it around...

Quote from: BitThink on October 07, 2013, 11:05:57 PM

Quote from: bitmoon on October 07, 2013, 09:55:56 PM

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.

2 million shares to 0.0001, not 0. Really surprised so many people still want to throw their BTCs away.

No matter what they do now, we have to accept the following facts.
1) They hadn't found a foundry on 20 Aug. But they claimed they received the chips on 28 Aug and posted the photo of chips on 29 Aug.
2) They claimed they were hashing at 2TH on 10 Sep, but only admitted the real hashing rate was only 800GH after 3 weeks.
3) Nothing promised in IRC chat has been done after more than one week.

Do you still want to pump the price so that you could pass your hot potatoes to the last victims? Then you are not so different from them at all.

drawingthesun

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Did we ever get to the bottom of the 800GH/s? Was it Labcoin chips after all?

BitThink

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Merit: 1000

Quote from: bitmoon on October 07, 2013, 09:55:56 PM

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.

2 million shares to 0.0001, not 0. Really surprised so many people still want to throw their BTCs away.

No matter what they do now, we have to accept the following facts.
1) They hadn't found a foundry on 20 Aug. But they claimed they received the chips on 28 Aug and posted the photo of chips on 29 Aug.
2) They claimed they were hashing at 2TH on 10 Sep, but only admitted the real hashing rate was only 800GH after 3 weeks.
3) Nothing promised in IRC chat has been done after more than one week.

Do you still want to pump the price so that you could pass your hot potatoes to the last victims? Then you are not so different from them at all.

alphaking

member

Activity: 98

Merit: 10

Quote from: bitmoon on October 07, 2013, 09:55:56 PM

funny thing, its kinda last day until trade stops, if they are scam, the bid should have collapsed to zero by the 2 million share dump, but they didnt.

also keep in mind, burnside added for us another 24 hour, which we didnt know before btct down, so if labcoin hurried to dump the 2million to get away, they would have been exposed, becuase burnside added 24hour again, yet they didnt dump.

if they did and crashed it to zero, then burnside added 24hour again, then i bet burnside will notice it too(properly take action). yet again, labcoin didnt dump, seems not scam.

think clearly guys, they didnt dump as we thought, assuming bitfunder wont take them, and investors hate them.

it could be legit with seroius poor working/communication problems, or they are so smart, and want to continue this crap to bitfunder and continue milking us.

Most of us already figure out that labcoin recruited developers from odesk as Howard said.
Without solid proofs that they are competent to tape out what we anticipated, I won't trust labcoin again.

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 63. (Read 1079974 times)