Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 842. (Read 1079974 times)

Deliberately low prices  

The question that needs to be answered most quickly is the expected time for chip delivery. From their TSMC documents, the estimate is in the October to December time-frame. This has a huge weight on profitability calculations.

English isn't his mother tongue. How about giving him a break... When are we going to be able to question the developers in this thread?

270k sell order, shes goin down

I'm dumping my shares.  Talks about operating the security as a ponzi scheme should not be taken lightly.  This is exactly the type of publicity we don't need in the BTC security marketplace.

TheSwede,

Are there plans to deploy large data center-type mine to assist in dividends as well? Or is Labcoin more focused on sales? Clarifying this would calm the nerves of many investors.

How far along are you on the rest of the hardware design?  i.e. boards for the chips to go on, as well as drivers to operate them? That stuff all needs to be done in parallel so it's 100% ready when the chips arrive.

If you guys could release some more details stuff (pin outs, circuit board designs, etc) would probably do a lot to boost "investor confidence" (i.e. share price )

EDIT: Actually I looked back at your page in more detail and I see the chips have a built-in 2-pin serial link which can link to a USB chip.  So, for the 130nm design building the hardware should be quite straightforward.

Still, with KnC set to hit by the (end?) of October, etc it would be helpful to see more technical details about how you're going to move forward fast and get the hashing power online once everything gets rolling.

I am sorry if I made it unclear. Holding a small portion of Bitcoin would NOT be to pay dividends out of 'thin air' of course. This would simply be a small buffer to use for dividends if say Fiat payments are made for bulk chips or miners from customers and BTC is hard to 'come by'. I will pose this question more clearly to the Labcoin team, but rest assured this is NOT a large amount of Bitcoin we are talking about and of course no coin will be held at all if needed to grow the project or pay for Chips/Hardware/Dev etc.

well, I'm out thanks for the quick double up

Good news. I think this is has to happen ASAP so as to get technical questions answered and put investors at ease.


+1

TheSwede75,

Thanks for the update. Leaving aside the specific hardware questions, can you elaborate on the foundry estimated chip delivery of Q4 2013?

Please establish and communicate a policy around this ASAP. I do NOT like to see investor funds being used for dividend payments, the money is there to grow your business, not to placate the shareholders.

UPDATE:

I have taken the longest nap of my life and will be communicating with the Labcoin team today. Before anything I figured I would to the best of my ability answer a few questions that have come in from PM. So here we go!

Q: Can we expect regular updates on less than weekly basis?
A: Yes and No. I think weekly updates is what can be expected on average. I will attempt to keep up with the thread and answer the questions I can as they come in. Obviously there will be periods (first-run, production start etc.) that will be very update intensive, and other periods (prob the next few days) that will have less 'news' as things happen behind the scenes (BTC - FIAT conversion for first run, management projects etc.)

Q: How do you plan to convert 7000 Bitcoin into fiat? No need for full disclosure, but this question is critical.
A: I am not privy to the exact nature of this but I can say that the BTC will be sold outside of the open market in China. I do believe there is still some discussion around if ALL 7k should be sold ASAP or if a portion should be held for dividend payments etc. I believe the reason for the Chinese sale is that not only would it be somewhat cumbersome to move a large amount of fiat between western exchanges and Chinese accounts, but also the fact that Bitcoin (don't quote me on this) actually is quite a bit more valuable on average in China then on many US exchanges.

Q: Please send a dev over to discuss the technical questions about the chip specifications?
A: This is going to happen shortly (I am guessing after the weekend, early/mid next week). I have already talked to Sam about someone from the Development team doing a Q/A session and also for Founder Fabrizio to visit the forum and take questions.

I will be visiting this thread at least once every day (unless I am without computer. Yes it happens that I go fishing or something 'out of range') to check in on the discussion and answer the questions I can.
Here is to everyone having a great end of the week, and a fantastic weekend.

I think a lot of people will recognize themselves here 

Totally right, Everyone seems to be on the Choo Choo IPO train that they forget they are actually buying nothing.
I wonder how many tears we'll see when the train crashes...

Disclaimer: I do sincerely hope Labcoin succeeds, My remark is just about the current pricing of shares.

To be honest, they're both overvalued right now. BTC markets are very bullish. And these companies have nothing to show for themselves other than promises.

And I've believed in promises too many times.  She never came back.

Unrelated to the current thread, but just to clarify, eASIC allows for both the structured asic and standard cell to be developed by them in parallel, and this is what ActiveMining is probably going to do: http://www.easic.com/migration-to-cell-based-asic/migration-to-cell-based-asic-simple-design-flow/

But let's discuss Labcoin here please.

The biggest quote ever! BFL made some mistakes in their design IMHO.  So BFL probably isn't the best product to compare it to.  That said, it does look like labcoin is HIGHLY exaggerating what their chip will be capable of doing.  Since people will keep using bitcoin miners until they only breakeven, the lowest power consumption will win in the long run and at this point that is looking like go 28nm or go home.  Since KNC is a  full custom ASIC chip (standard cell) if it works it will have the best power to hash rate efficiency.  However, they are rushing it out the door really, really fast with minimal testing, so it could also be a total dud.  ActiveMining is using a structured cell ASIC which gives them shorter time to market (within a couple weeks of KNC I think), the advantage here is that they don't need to do as much testing as 98% of the chip is pre-engineered and they can migrate over to a "standard cell" design ~6 months from now since they are working with eASIC, however out of the gate their chip won't be quite as fast or efficient as a standard cell ASIC could be.

Is there any update?

THIS! +1