Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 816. (Read 1079974 times)

They haven't been perfect. But compared to any of the other IPOs currently launched they are heads and shoulders above the rest in the communications and transparency department.

BTC Garden insults its investors in their own thread.
AcTM rarely updates and IMO seems really high risk.
IceDrill is well... not convincing me and the price/hash is much higher than Labcoin.

Uh, they aren't looking for customers.  They are self-mining operation, and they already have the funding they need to produce their chips.


I assume their pledge to prove they can't sell more then 25% their personal shares. Which they are working on doing with burnside.

I will laugh if doing that actually causes the share price to go up, as it is actually impossible for them to sell more then 13% of their shares given the current order book!

correct. Zhenghua is like the first name in English.
By the way, where do you find his first name?

They have broken *what* promise exactly?

If they want customers they need to act like professionals. That they have failed at so far. It's only been a week and they have broken their one and only promise already. And that was a really easy one. Not a good sign.

Chinese -> English names can be confusing because the family name will be the 'first' name and personal name will be the 'last' name, and people refer to eachother by family name most of the time. Then sometimes they'll 'translate' by listing family name last in English, and sometimes they won't. And of course many also have unofficial English names they go by as well.

I'm guessing:
  Howard = English name (obviously)
  Wang = Family name (Wang is a common Chinese last name)
  Zhenghua = personal name.

In Chinese people would call him Wang Zhenghua.  I think.

Just wanted to mention that labcoin_dev addressed this question and stated that it was a matter of translation, and they are the same person. I believe he said it was Howard W Zhenhua in english, and Zenhua Wang in chinese. Howard is a translation of one of those names to english.
 

There's really no reason to buy or sell the stock at the moment, unless you need the money for something else, like IceDrill shares (lol)

Note that IceDrill is paying $14/Gh/s while Labcoin will be paying $2/Gh/s.

After the IPO there were a bunch of people who complained they couldn't get stock, while at the same time they basically admitted they were planning to flip them immediately.

But honestly, it's the truth... if there aren't enough tech savvy investors to make this work, then these IPOs actually shouldn't be funded.  It would be way to easy to scam people who can't properly evaluate the risk.  At least until the chip is finished.


*shrug* More cheap shares fore me Note that it would only take 5Btc to get the share price back up to .0014, and 50Btc to get the share price to .0015.   I think people need to look more closely at the market depth when evaluating the 'price'.  A handful of shares trading at a low price isn't that big of a deal.

Anyway, the real news comes when the first chips leave the fab either they work, or they don't.  If they work, the share price should go up a great deal.  If they don't, then everyone is fucked.  

Freaking out about the founders being able to sell - there isn't enough liquidity in the market for them to make much money at this point at all. It's a non-issue.

The only risk is that they personally dump shares before bad news.  If they actually believe their chips will work they would be insane to sell now (And remember, they spent tons of their own money to develop the chips and order the first batch).  But like I said, there's not enough liquidity for them to sell even if they wanted too.

___
And let's actually look at the math on that liquidity:
Other then a huge order at 0.00001, the smallest order is for 3,000 shares at 0.0003. 30% of the IPO price. They'd all take 435BTC in total if they filled every single order at that level and higher, in exchange for 400k shares out of their 3 million.

So in fact, it's actually mathematically impossible for them to sell more then 13% of their share at the moment anyway, given the current order book.

(Unless they want to give away almost all of their stake in the company for 20Btc at 0.00001btc/share)

Where did the liquidity go anyway? Just a lull waiting for real news? I am guessing September/October will be really interesting

I m not sure any IPO would be successful if only tech savy investors were participating. Understanding the risks by engaging discussion with forum members who have the knowledge is what I m more after, but thanks for caring - I m touched.

At least, you might have got through to the shareholder who just dumped 120K shares.

If this is a scam they can just run off with the IPO bitcoin, they don't need to try to dump shares into an incredibly illiquid market. There aren't enough buyers to get that much stock.

If you don't trust them then just sell


No it doesn't.  He's asking moronic questions, every chip is different and some results won't be known until the chip is actually finished.

If you don't have the technical knowledge to evaluate this proposal yourself, you should not be investing, or wait until they have working chips.

I'll sip on a martini and enjoy the show. Most people here do make good points but its the one or two that just blows up and scream murder. Diversify you investments, yo.