[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 813.

AngelSky

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Quote from: LordMeowMeow on August 12, 2013, 11:24:41 AM

Quote from: AngelSky on August 12, 2013, 11:20:33 AM

Quote from: LordMeowMeow on August 12, 2013, 11:17:31 AM

Just sold my 40k shares. I'm out until we get some clear news here about the locked accounts and the technical specs which VBS called them out on. They haven't replied since. In the meantime I sent 2 PMs to TheSwede with no replies but he has time to shop for a Rolex on the forum for his "friend": https://bitcointalksearch.org/topic/m.2909210

I guess you made someone else happy

Possibly

I don't have the energy to stress about it and made a good profit anyway. I will keep my eyes on this thread to see what happens!

At this time, my labcoin position is not big and I think the risk is not high. I just feel that everyone here cannot hold for more than 2 days without taking some anxiolytics. Maybe because your positions are too big ?

For your dump, I think you made the right choice. If you're not comfortable with a position, just sell (at a good price) and free your mind. Not my case here anyway Wink

E.Sam

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Quote from: drawingthesun on August 12, 2013, 11:17:21 AM

Quote from: Moebius327 on August 12, 2013, 11:14:23 AM

Because people think that 32k bitcoin btcgarden refunds will make the price skyrocket.

So btcgarden made the IPO sale of 32k originally? Last I saw shares were being sold below IPO signalling they were not selling a lot. I don't think they will be refunding that much Bitcoin. I could be wrong.

Quote from: aiwill on August 11, 2013, 10:39:20 PM

IMPORTANT NOTICE

Due to some unexpected legal risks we met last week, we have to, cancel this IPO and buyback/repurchase entire two million shares of BTCGARDEN we issued at btct.co.

We will buy back all shares with the whole price of 32064btc. I.e,we will pay for commissions to let all shareholders get back their Bitcoin with the price of 0.016btc/share.

I would like to say thank you & sorry to all of our investors/supporters/ potential investors in advance before I explain the whole affair. Thank you for all of your trust and support, sorry for the final decision we have made.

Procedures:

We have already confirmed the whole process with Burnside (manager of btct.co),

1 We will lock the trading of BTCGARDEN at btct immediately.
2 We will then send the whole 32064BTC and submit the repurchase request to Burnside from backstage, he will then run the proper script to execute this request ASAP.
3 All current shareholders will get your BTC back into your account immediately,at which point you can withdraw it freely.

All of above will be finished in 24-48 hours from the time you see this notice.

In 12-36 hours a part of these 32064BTC will be reinvested in some BTCT assets. I think LC will be one of them, along with AsicMiner & ActiveMining.

EDIT: Disclaimer - LC shareholder

San1ty

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Quote from: LordMeowMeow on August 12, 2013, 11:24:41 AM

Quote from: AngelSky on August 12, 2013, 11:20:33 AM

Quote from: LordMeowMeow on August 12, 2013, 11:17:31 AM

Just sold my 40k shares. I'm out until we get some clear news here about the locked accounts and the technical specs which VBS called them out on. They haven't replied since. In the meantime I sent 2 PMs to TheSwede with no replies but he has time to shop for a Rolex on the forum for his "friend": https://bitcointalksearch.org/topic/m.2909210

I guess you made someone else happy

Possibly

I don't have the energy to stress about it and made a good profit anyway. I will keep my eyes on this thread to see what happens!

Hey, you might be the smartest one around here. You have some valid concerns so...

LordMeowMeow

sr. member

Activity: 617

Merit: 250

Quote from: AngelSky on August 12, 2013, 11:20:33 AM

Quote from: LordMeowMeow on August 12, 2013, 11:17:31 AM

Just sold my 40k shares. I'm out until we get some clear news here about the locked accounts and the technical specs which VBS called them out on. They haven't replied since. In the meantime I sent 2 PMs to TheSwede with no replies but he has time to shop for a Rolex on the forum for his "friend": https://bitcointalksearch.org/topic/m.2909210

I guess you made someone else happy

Possibly

I don't have the energy to stress about it and made a good profit anyway. I will keep my eyes on this thread to see what happens!

AngelSky

hero member

Activity: 1008

Merit: 537

Quote from: LordMeowMeow on August 12, 2013, 11:17:31 AM

Just sold my 40k shares. I'm out until we get some clear news here about the locked accounts and the technical specs which VBS called them out on. They haven't replied since. In the meantime I sent 2 PMs to TheSwede with no replies but he has time to shop for a Rolex on the forum for his "friend": https://bitcointalksearch.org/topic/m.2909210

I guess you made someone else happy

AngelSky

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Activity: 1008

Merit: 537

I think the price should increase but not skyrocket

LordMeowMeow

sr. member

Activity: 617

Merit: 250

Just sold my 40k shares. I'm out until we get some clear news here about the locked accounts and the technical specs which VBS called them out on. They haven't replied since. In the meantime I sent 2 PMs to TheSwede with no replies but he has time to shop for a Rolex on the forum for his "friend": https://bitcointalksearch.org/topic/m.2909210

drawingthesun

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Quote from: Moebius327 on August 12, 2013, 11:14:23 AM

Because people think that 32k bitcoin btcgarden refunds will make the price skyrocket.

So btcgarden made the IPO sale of 32k originally? Last I saw shares were being sold below IPO signalling they were not selling a lot. I don't think they will be refunding that much Bitcoin. I could be wrong.

blackswan

member

Activity: 82

Merit: 10

Quote from: drawingthesun on August 12, 2013, 11:12:22 AM

Quote from: superduh on August 12, 2013, 11:01:53 AM

4 days silence. wow!

Bitcoin is an interesting world indeed. Even if there is nothing wrong or scammy going on, why would buying power increase with increased uncertainty?

Most likely people buying into Labcoin simply because they anticipate the price of shares to jump when the refund from BTCGarden is paid out and those people move some of their coins into Labcoin.

Moebius327

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Quote from: drawingthesun on August 12, 2013, 11:12:22 AM

Quote from: superduh on August 12, 2013, 11:01:53 AM

4 days silence. wow!

Bitcoin is an interesting world indeed. Even if there is nothing wrong or scammy going on, why would buying power increase with increased uncertainty?

Because people think that 32k bitcoin btcgarden refunds will make the price skyrocket.

drawingthesun

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Activity: 1176

Merit: 1015

Quote from: superduh on August 12, 2013, 11:01:53 AM

4 days silence. wow!

Bitcoin is an interesting world indeed. Even if there is nothing wrong or scammy going on, why would buying power increase with increased uncertainty?

superduh

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4 days silence. wow!

auto2nr1

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Merit: 250

Quote from: burnside on August 09, 2013, 03:42:48 AM

Quote from: funcard2008 on August 09, 2013, 03:08:35 AM

Quote from: burnside on August 02, 2013, 05:19:15 PM

Quote from: TheSwede75 on August 02, 2013, 02:10:15 PM

Quote from: kokojie on August 02, 2013, 02:00:23 PM

Quote from: superduh on August 02, 2013, 01:46:27 PM

the 3 million shares should either not be tradeable on BTCT until a certain amount of time
OR the shares should be marked/colored in a way so that people know that they are buying the team's shares. this would also indicate for everyone to panic - heh

I agree, there's a reason there's a IPO "lock up" period for insiders in real world IPO. Especially when labcoin is going against the norm on btct (insider shares are not normally tradable)

I would like to point out that the 'Lock in' period for founders/insiders is one of those 'sometimes there is one, sometimes not'. I can also say that the Labcoin team didn't even consider this in the IPO process due to no one being interested in selling out shares in the project. That said, I will talk to Sam this weekend to see about a public solution that will allow share holders to feel secure in that the Labcoin founders and developers are not selling out.

Two ways this can be addressed on BTCT.

- The founders could turn on their public portfolios and publish a list of url's where the shares are held.
- (with Labcoin's consent) if they send us a list of accounts that are holding the shares we can lock the accounts and publicly state the number of shares effectively "in escrow".

WAITING

I just need a list of accounts to lock. (feel free to PM or email me.)

Cheers.

Can anyone from Labcoin hurry up and address this issue?

E.Sam

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Quote from: canth on August 12, 2013, 08:51:09 AM

Quote from: redbeans2012 on August 12, 2013, 08:35:35 AM

I'm out of this one till i get some good news. Want to believe but don't like akward silence. Undecided

If they wanted to steal our coins, they wouldn't have put out any kind of notice or reached out to Burnside. I'm confident that it'll work out ok.

Looks more like Burnside is trying to reach them https://bitcointalksearch.org/topic/m.2896819

I suppose he's not the only one... 4 days and not a single word. I m not trying to imply that they are fraudsters, but such lack of communication in such uncertain time is a bit baffling.

kokojie

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Quote from: twentyseventy on August 12, 2013, 08:24:04 AM

Quote from: joele on August 12, 2013, 08:20:54 AM

Quote from: twentyseventy on August 12, 2013, 08:12:26 AM

I highly doubt that LC would follow BTCGarden - they've invested a lot of time and effort into this for the past few months. Plus, they're on a much smaller scale - they raised about $700,000 while BTCGarden raised over $3 Million - this attracts much more attention.

Also, LC isn't going to be intimidated by one guy making threats on the internet - hah! Roll Eyes

BTCGarden has their own bitcoin exchanger site reputation and other bitcoin services.
Labcoin is just written promises.

I'm not saying that BTCGarden hasn't done well with their current enterprises - they definitely have. I actually was interested to see what they'd be capable of in the mining space. However, the whole story seems very fishy.

I'm glad that all the investors will be getting their money back (for the most part), but it's hard to believe that BTCGarden didn't consider that someone might be angry with them / extort them / etc. This is 30K BTC, worth millions of USD, that we're talking about.

The problem with btcgarden is that they are very well funded already, their IPO is simply for future expansion purpose. They do not want to take ANY risk if the IPO cause them trouble. The slightest sign of trouble would cause them to pull out, since they don't really need money urgently.

canth

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Quote from: redbeans2012 on August 12, 2013, 08:35:35 AM

I'm out of this one till i get some good news. Want to believe but don't like akward silence. Undecided

If they wanted to steal our coins, they wouldn't have put out any kind of notice or reached out to Burnside. I'm confident that it'll work out ok.

redbeans2012

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Activity: 887

Merit: 1000

I'm out of this one till i get some good news. Want to believe but don't like akward silence. Undecided

twentyseventy

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Quote from: joele on August 12, 2013, 08:20:54 AM

Quote from: twentyseventy on August 12, 2013, 08:12:26 AM

I highly doubt that LC would follow BTCGarden - they've invested a lot of time and effort into this for the past few months. Plus, they're on a much smaller scale - they raised about $700,000 while BTCGarden raised over $3 Million - this attracts much more attention.

Also, LC isn't going to be intimidated by one guy making threats on the internet - hah! Roll Eyes

BTCGarden has their own bitcoin exchanger site reputation and other bitcoin services.
Labcoin is just written promises.

I'm not saying that BTCGarden hasn't done well with their current enterprises - they definitely have. I actually was interested to see what they'd be capable of in the mining space. However, the whole story seems very fishy.

I'm glad that all the investors will be getting their money back (for the most part), but it's hard to believe that BTCGarden didn't consider that someone might be angry with them / extort them / etc. This is 30K BTC, worth millions of USD, that we're talking about.

joele

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Quote from: twentyseventy on August 12, 2013, 08:12:26 AM

I highly doubt that LC would follow BTCGarden - they've invested a lot of time and effort into this for the past few months. Plus, they're on a much smaller scale - they raised about $700,000 while BTCGarden raised over $3 Million - this attracts much more attention.

Also, LC isn't going to be intimidated by one guy making threats on the internet - hah! Roll Eyes

BTCGarden has their own bitcoin exchanger site reputation and other bitcoin services.
Labcoin is just written promises.

twentyseventy

legendary

Activity: 1386

Merit: 1000

I highly doubt that LC would follow BTCGarden - they've invested a lot of time and effort into this for the past few months. Plus, they're on a much smaller scale - they raised about $700,000 while BTCGarden raised over $3 Million - this attracts much more attention.

Also, LC isn't going to be intimidated by one guy making threats on the internet - hah! Roll Eyes

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 813. (Read 1079974 times)