hehe..no updates.our stocks is going to be some fuckin air...
BTCT closing in 2 minutes or sometime tomorrow. No new exchange, no communication since.
Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 70. (Read 1079974 times)
October 06, 2013, 11:00:53 PM
BTCT closing in 2 minutes or sometime tomorrow. No new exchange, no communication since.
October 06, 2013, 10:59:57 PM
It's been 5 days since this list was posted.
Unfortunately, no action items have been completed.
The list remains as it is. I am including some suggestions added by the community, though it is important to note that these have not been agreed to by Mr. Noi.
I am PMing a reminder copy to Mr. Noi as soon as this is posted.
NOTES FROM THE Q&A
INCLUDING A TO-DO LIST FOR SAMUELE NOI.
I am PMing a copy of this to-do list to the Labcoin account as a reminder of the action items from this session.
I am also asking Mr. Noi to inform us when these items are completed.
Actions for the next 24 hours.
- Skype session with Ukyo regarding Bitfunder listing
- Posting to the forum the amount of BTC left in the company funds.
- Change pool to Eligius
- Make the labcoin portfolio public on BTCT
Other actions to complete ASAP
- Verification of ID. A good start would be writing "I am Samuele Noi of Labcoin" and the date on a piece paper, and photograph yourself holding it.
- Photos of the hosting facilities as well as the operational boards
- Send a sample board to TheSeven. This should be done immediately as the sooner he gets the board the sooner he can provide advice. Delays have a direct cost.
- Exact power consumption figures for the chips/boards
Actions for the community to complete ASAP
- Nominate a panel of community representatives to work closely with Samuele. This should be done immediately. We complain about delays from Sam, let's not do what we criticize him for.
Suggested additional items from the community
- Meet with a shareholder in person in Shenzhen / Hong Kong. Lunch/coffee/tea meeting etc. Merv77 has indicated that he will be in town and available Oct 23 - Nov 11. An in person meeting with a third party could soothe a lot of anxieties.
- Provide a full accounting for all money spent so far. A spreadsheet showing expenses and dates would be ideal.
October 06, 2013, 10:57:12 PM
hehe..no updates.our stocks is going to be some fuckin air...
October 06, 2013, 10:52:12 PM
any news now?
no besides that Fabrizzio admitted to be Sam, and Howard Wang did a Q/A which showed that Labcoin lied and has no chips at all.
October 06, 2013, 10:51:20 PM
any news now?
October 06, 2013, 10:50:57 PM
are they skipping dividends today?
every 2 weeks = not today as far as i knowlast onewas on the 24th of september....
There will be no more dividends once BTCT is closed
October 06, 2013, 10:50:35 PM
All thats needed to know: http://www.reddit.com/r/Bitcoin/comments/1ncckq/labcoin_has_been_outed_as_a_scam_run_by_notorious/
http://www.reddit.com/r/Bitcoin/comments/1ntdxt/howard_wang_responds_to_qa_labcoin_is_a_scam/
And no more dividends once BTCT is shut down.
http://www.reddit.com/r/Bitcoin/comments/1ntdxt/howard_wang_responds_to_qa_labcoin_is_a_scam/
And no more dividends once BTCT is shut down.
October 02, 2013, 07:09:57 PM
are they skipping dividends today?
every 2 weeks = not today as far as i knowlast onewas on the 24th of september....
October 02, 2013, 07:01:11 PM
are they skipping dividends today?
October 02, 2013, 06:27:55 PM
I'm going to buy in when it's 1 satoshi per share. Come on bag holders you can do it
October 02, 2013, 05:49:11 PM
.00018 is gonna break soon.
October 02, 2013, 05:34:16 PM
As far as i read its only the package that is faulty. So simply use another package with the next production run and you can reuse the chipdesign. He did not say that the chipdesign is faulty.
Yeah "only". The "only" problem with that is that the packaging is some sort of epoxy plastic, its not like you can change it after they have been packaged. That means you can throw them away, all of them. So you are left with that next production run, which usually takes at least 2 months for the wafer processing alone, assuming you planned this beforehand or the fab has spare capacity. Add the time for planning the wafer run, packaging, mounting, assembly, deploying. How much do you think those 130nm chips are going to be worth if they only start hashing in February?
According to TGB's optimistic scenario, and using labcoins most optimistic specs, they would mine $5 per chip in February, $2.5 in March and the total barely exceeds $8. Asics are cheap, but good luck having those chips produced at that price, including the PCBs, powersupplies and other overhead and somehow make a profit.
Its a loser.
You have to be insane to hold this stock at this point.
October 02, 2013, 05:23:41 PM
If not a scam, and if they had the chips, and if those chips hashed, Labcoin would still not be able to compete with real ASIC companies due to having an obsolete chip.
Maybe you should ask friedcat why he ordered again a big batch of the oldest asic gen.
Maybe you're trying a bit too hard to pump an obvious fail stock?
If Labcoin is everything you claim it is, why not buy buy buy? A sudden rush of altruistic good will towards us faithless idiots?
Edit: When dealing with complex concepts, pictorial illustrations tend to add a measure of clarity. HERE:
October 02, 2013, 05:14:06 PM
Fail logic.
1. If Labcoin
had chips, and those chips hashed, and hashed at full speed, it could cook up moar batches & mine with those chips at cost.
2. If Bitfury, KNC, ASICminer, Avalon, etc.
had chips (they do), and those chips hashed (they do), and hashed at full speed (they do), they could cook up moar batches & mine with those chips at cost.
See the problem here?
1. If Labcoin
had chips, and those chips hashed, and hashed at full speed, it could cook up moar batches & mine with those chips at cost.
2. If Bitfury, KNC, ASICminer, Avalon, etc.
had chips (they do), and those chips hashed (they do), and hashed at full speed (they do), they could cook up moar batches & mine with those chips at cost.
See the problem here?
The problem? That you assume they dont have chips? I dont see another problem. They have chips that have a problem that has to be solved. Thats it. When this works they will mine and sell hardware. What else?
Not sure i can make this any easier for you to understand, but i'll try:
They may have the chips, but the chips are scrap. They made engineering boo-boos, and now those chips may be useful as fill at a construction site, or as reminders to children how wrong things can go if they don't keep up their grades -- not much else. That's another problem 4 u.
Here's another: The "company" is most likely a scam. This is a biggie.
Would you like moar?
October 02, 2013, 05:09:32 PM
Shouldn't dividends have been payed by now?
October 02, 2013, 05:08:55 PM
As far as i read its only the package that is faulty. So simply use another package with the next production run and you can reuse the chipdesign. He did not say that the chipdesign is faulty.
Yeah "only". The "only" problem with that is that the packaging is some sort of epoxy plastic, its not like you can change it after they have been packaged. That means you can throw them away, all of them. So you are left with that next production run, which usually takes at least 2 months for the wafer processing alone, assuming you planned this beforehand or the fab has spare capacity. Add the time for planning the wafer run, packaging, mounting, assembly, deploying. How much do you think those 130nm chips are going to be worth if they only start hashing in February?
According to TGB's optimistic scenario, and using labcoins most optimistic specs, they would mine $5 per chip in February, $2.5 in March and the total barely exceeds $8. Asics are cheap, but good luck having those chips produced at that price, including the PCBs, powersupplies and other overhead and somehow make a profit.
Its a loser.
October 02, 2013, 05:07:34 PM
If not a scam, and if they had the chips, and if those chips hashed, Labcoin would still not be able to compete with real ASIC companies due to having an obsolete chip.
Maybe you should ask friedcat why he ordered again a big batch of the oldest asic gen.
October 02, 2013, 05:04:54 PM
Ok but you realize what Pankkake is saying is that. The LAST of the funds for Labcoin will be going into fixing chips that CANNOT be fixed. That is what Pankkake is saying. So when you run out of FUNDS and have NO working chips. What do you reinvest with? And with that, what do you reinvest in? there is no one on the team to design the chips anymore. That guy has apparently been gone for months.
As far as i read its only the package that is faulty. So simply use another package with the next production run and you can reuse the chipdesign. He did not say that the chipdesign is faulty.
This is not a normal Mining Company. This is a reinvesting mining company that owns their own asic design.
Ugh, I hope everyone here knows that already.Here's the thing: it's worthless. Everyone else has better chips now and is planning even better chips. Why would they produce more chips… when they're the worst on the market?
They had a tiny window, and they missed it big time.
Everyone has better chips? You realize that this isnt for endusers? Even Asicminer is ordering another big batch of the oldest asic gen. Simply because they OWN the design and can create miners at cost. Thats completely different than the competition between endusers buying expensive miners from companies. So no, these chips are not dead. You cant calculate with enduserprices here.
+1
Fail logic.
1. If Labcoin
had chips, and those chips hashed, and hashed at full speed, it could cook up moar batches & mine with those chips at cost.
If not a scam, and if they had the chips, and if those chips hashed, Labcoin would still not be able to compete with real ASIC companies due to having an obsolete chip. If it's not profitable to sell those failchips as miners, why is it suddenly profitable to mine them???
2. If Bitfury, KNC, ASICminer, Avalon, etc.
had chips (they do), and those chips hashed (they do), and hashed at full speed (they do), they could cook up moar batches & mine with those chips at cost.
- don't all companies above also hash at cost, plus sell chips and hardware had chips (they do), and those chips hashed (they do), and hashed at full speed (they do), they could cook up moar batches & mine with those chips at cost.
Yes they do. The difference being that they have chips, those chips work, and work better than the Labcoin's best=case scenario, the one riddled with all the "if"s.
October 02, 2013, 05:04:19 PM
Fail logic.
1. If Labcoin
had chips, and those chips hashed, and hashed at full speed, it could cook up moar batches & mine with those chips at cost.
2. If Bitfury, KNC, ASICminer, Avalon, etc.
had chips (they do), and those chips hashed (they do), and hashed at full speed (they do), they could cook up moar batches & mine with those chips at cost.
See the problem here?
1. If Labcoin
had chips, and those chips hashed, and hashed at full speed, it could cook up moar batches & mine with those chips at cost.
2. If Bitfury, KNC, ASICminer, Avalon, etc.
had chips (they do), and those chips hashed (they do), and hashed at full speed (they do), they could cook up moar batches & mine with those chips at cost.
See the problem here?
The problem? That you assume they dont have chips? I dont see another problem. They have chips that have a problem that has to be solved. Thats it. When this works they will mine and sell hardware. What else?
Everyone has better chips? You realize that this isnt for endusers?
Well yes I do realize that.My point is that even end-users are going to have it better than Labcoin.
And again, you are completely ignoring that any delays are deadly. Difficulty is going to explode.
Right... diffi is exploding. But where do you have the idea from that endusers can compete with someone owning an asic design? I think THATS deluded.
Quote
Even Asicminer is ordering another big batch of the oldest asic gen.
Which is better than Labcoin's, is known to work, and probably costs a lot less now that they're used to make it. And they can sell it fast, too.Quote
Simply because they OWN the design and can create miners at cost. Thats completely different than the competition between endusers buying expensive miners from companies. So no, these chips are not dead. You cant calculate with enduserprices here.
You are so deluded. What they "OWN" is a turd.Did you read the chat? The chip design seems to work. So when they make another batch with better enclosure they have chips that will work fully.
Claiming that owning a working chip design is worthless... man, im not sure if i can take you serious.
October 02, 2013, 05:02:49 PM
No dividend today...
Jump to: