Are we getting 55% of what we bid?
I think 30% to 35%
Well there are only 18M bids on shares over or equal to 0.001
Ok so it's 38% then
Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 862. (Read 1079974 times)
July 31, 2013, 05:15:29 PM
I think 30% to 35%
Well there are only 18M bids on shares over or equal to 0.001
Ok so it's 38% then
July 31, 2013, 05:14:03 PM
Look - lets keep it simple - there are two problems here.
1. BTCT.co was fucked for the last 20 minutes - people couldn't find funds and basically had to trick the system into displaying them
2. Factually, the bidding was shut off an hour early. This is based on the quoted timezones. This is an indisputable fact. It's not about perception, its about fact.
People are butt hurt because (1) fucked up those of us who were on time in any circumstance, and (2) fucked up everyone who isn't american and didn't osmose this alternative interpretation of time.
I tried to put in a bid for 100,000 shares to profit on what will be a major frenzy, and this cluster fuck of retardedness has cost me money plain and simple.
1. BTCT.co was fucked for the last 20 minutes - people couldn't find funds and basically had to trick the system into displaying them
2. Factually, the bidding was shut off an hour early. This is based on the quoted timezones. This is an indisputable fact. It's not about perception, its about fact.
People are butt hurt because (1) fucked up those of us who were on time in any circumstance, and (2) fucked up everyone who isn't american and didn't osmose this alternative interpretation of time.
I tried to put in a bid for 100,000 shares to profit on what will be a major frenzy, and this cluster fuck of retardedness has cost me money plain and simple.
It was more than the last 20 minutes. It was at leas the last THREE HOURS. People who had transactions that were confirmed hours ago weren't seeing anything in their balance.
I too, attempted to buy 100,000 (with 250 coins) and was unable to.
July 31, 2013, 05:13:13 PM
What a ride. I have to hand it to burnside and the_swede, I think you guys made the right decision. It's not perfect and a bunch of people will be unhappy, but it was probably the fairest decision given the circumstances.
So now that this is done, see you in the post-IPO orderbook battlefield
(And don't forget the other cryptostocks as well, I've heard some guys left cheap shares lying around)
So now that this is done, see you in the post-IPO orderbook battlefield
(And don't forget the other cryptostocks as well, I've heard some guys left cheap shares lying around)
+1. Enough with the complaints - the IPO is over. There are never going to be solutions in which demand is higher than supply where everyone is going to be pleased. As far as I'm concerned, the process was handled fairly and professionally. As a suggestion, if you feel that things didn't go smoothly and want the next issuance to be more successful, start a new thread with improvement requests for BTCT. Be professional, be a part of the community and be a part of the solution rather than the problem.
+1
+2
July 31, 2013, 05:12:55 PM
I was also screwed over by the wallet bug. Can't really buy an IPO when you can't access your funds.
Only after it was locked was I aware of the "withdrawal trick" to gain access to my wallet funds.
Only after it was locked was I aware of the "withdrawal trick" to gain access to my wallet funds.
July 31, 2013, 05:12:16 PM
What a ride. I have to hand it to burnside and the_swede, I think you guys made the right decision. It's not perfect and a bunch of people will be unhappy, but it was probably the fairest decision given the circumstances.
So now that this is done, see you in the post-IPO orderbook battlefield
(And don't forget the other cryptostocks as well, I've heard some guys left cheap shares lying around)
So now that this is done, see you in the post-IPO orderbook battlefield
(And don't forget the other cryptostocks as well, I've heard some guys left cheap shares lying around)
+1. Enough with the complaints - the IPO is over. There are never going to be solutions in which demand is higher than supply where everyone is going to be pleased. As far as I'm concerned, the process was handled fairly and professionally. As a suggestion, if you feel that things didn't go smoothly and want the next issuance to be more successful, start a new thread with improvement requests for BTCT. Be professional, be a part of the community and be a part of the solution rather than the problem.
+1
July 31, 2013, 05:11:31 PM
Clearly many other users sent bitcoin toos with anticipation of standard transaction confirmation times; with the understanding they would be cleared to lock in buy order
before cutoff (I don't think 3hours in advance is too unreasonable) They were not visible to spend due to bug on btc-tc backend - only after making 'fake' withdrawal of some amount did they appear. I think you cannot say that people would expect such a quirk
before cutoff (I don't think 3hours in advance is too unreasonable) They were not visible to spend due to bug on btc-tc backend - only after making 'fake' withdrawal of some amount did they appear. I think you cannot say that people would expect such a quirk
^^^ This !!!!!!!!!!!!!!
Also this, I did not get in because people can not tell time, and balance did not credit correctly.... no fault of my own.
July 31, 2013, 05:11:11 PM
Are we getting 55% of what we bid?
I think 30% to 35%
Well there are only 18M bids on shares over or equal to 0.001
Edit: I forgot there is only 7M shares
July 31, 2013, 05:10:39 PM
Quote
You had as much time as anyone else. If you didn't make the cutoff it's no ones fault but your own. Stop spamming, the case is closed.
Just to quote my previous msg:
Quote
I made 2 TX; 15 min after each other, one cleared after 30min- the next was still not visible after 3hrs
following this instructions to make withdrawal of 0.001- pending amount is instantly visible to spend
following this instructions to make withdrawal of 0.001- pending amount is instantly visible to spend
Clearly many other users sent bitcoin toos with anticipation of standard transaction confirmation times; with the understanding they would be cleared to lock in buy order
before cutoff (I don't think 3hours in advance is too unreasonable) They were not visible to spend due to bug on btc-tc backend - only after making 'fake' withdrawal of some amount did they appear. I think you cannot say that people would expect such a quirk
Exactly. Very clearly put.
Lots of people lost faith in BTCT today and Labcoin too for not delaying the IPO when their were technical glitches.
July 31, 2013, 05:09:06 PM
Clearly many other users sent bitcoin toos with anticipation of standard transaction confirmation times; with the understanding they would be cleared to lock in buy order
before cutoff (I don't think 3hours in advance is too unreasonable) They were not visible to spend due to bug on btc-tc backend - only after making 'fake' withdrawal of some amount did they appear. I think you cannot say that people would expect such a quirk
before cutoff (I don't think 3hours in advance is too unreasonable) They were not visible to spend due to bug on btc-tc backend - only after making 'fake' withdrawal of some amount did they appear. I think you cannot say that people would expect such a quirk
^^^ This !!!!!!!!!!!!!!
July 31, 2013, 05:08:23 PM
If they were being greedy they would have just let people bid up the price of the shares to the stratosphere and raked in millions of extra dollars. "Greed" is obviously not the issue here.
True.I wonder why they didn't do that, after all that's the price the market wants to pay.
And this strange system can be gamed anyway, since you could just overbid to get how much you wanted...
July 31, 2013, 05:08:10 PM
Are we getting 55% of what we bid?
I think 30% to 35%
July 31, 2013, 05:07:45 PM
Quote
You had as much time as anyone else. If you didn't make the cutoff it's no ones fault but your own. Stop spamming, the case is closed.
Just to quote my previous msg:
Quote
I made 2 TX; 15 min after each other, one cleared after 30min- the next was still not visible after 3hrs
following this instructions to make withdrawal of 0.001- pending amount is instantly visible to spend
following this instructions to make withdrawal of 0.001- pending amount is instantly visible to spend
Clearly many other users sent bitcoin toos with anticipation of standard transaction confirmation times; with the understanding they would be cleared to lock in buy order
before cutoff (I don't think 3hours in advance is too unreasonable) They were not visible to spend due to bug on btc-tc backend - only after making 'fake' withdrawal of some amount did they appear. I think you cannot say that people would expect such a quirk
July 31, 2013, 05:07:03 PM
What a ride. I have to hand it to burnside and the_swede, I think you guys made the right decision. It's not perfect and a bunch of people will be unhappy, but it was probably the fairest decision given the circumstances.
So now that this is done, see you in the post-IPO orderbook battlefield
(And don't forget the other cryptostocks as well, I've heard some guys left cheap shares lying around)
So now that this is done, see you in the post-IPO orderbook battlefield
(And don't forget the other cryptostocks as well, I've heard some guys left cheap shares lying around)
+1. Enough with the complaints - the IPO is over. There are never going to be solutions in which demand is higher than supply where everyone is going to be pleased. As far as I'm concerned, the process was handled fairly and professionally. As a suggestion, if you feel that things didn't go smoothly and want the next issuance to be more successful, start a new thread with improvement requests for BTCT. Be professional, be a part of the community and be a part of the solution rather than the problem.
July 31, 2013, 05:06:52 PM
Why the name Labcoin? I kept thinking this was for an alt-coin 
July 31, 2013, 05:06:37 PM
You are a douche - if you're happy, why trolling around?
Spam control buddy, you are a repeat offender.
July 31, 2013, 05:06:19 PM
Ignore that pos. He knows he's wrong but his greed is more important than being a honest person.
If they were being greedy they would have just let people bid up the price of the shares to the stratosphere and raked in millions of extra dollars. "Greed" is obviously not the issue here.
July 31, 2013, 05:05:14 PM
I am American as well, and I agree you don't see it or pay attention to it often. The problem is non-American's who google search the time to convert it to their timezone will get the wrong time, so they should honor the time they posted. I even pointed out the problem two hours ago and told Swede here:
https://bitcointalksearch.org/topic/m.2841157
This.https://bitcointalksearch.org/topic/m.2841157
Of course they should honor the time posted, it doesn't really matter if they "thought" they were posted something else, or every contract everywhere would be meaningless...
Also the world doesn't revolve around CENTRAL TIME USA you better give times in UTC when doing IPO.
I shouldn't be quoting myself but I said that on page 18
July 31, 2013, 05:05:10 PM
Also the world doesn't revolve around CENTRAL TIME USA you better give times in UTC when doing IPO.
I shouldn't be quoting myself but I said that on page 18
July 31, 2013, 05:04:57 PM
Unfortunately there is/was little I can/could do about the issue as Burnside runs the exchange and I only am the communications person between Labcoin and BTCT.CO
This is factually wrong, you could request to delay the IPO.
It's just that there are no longer rules to be followed. And all those who are complaining are nothing more than whiners?
Do you remember the Facebook IPO fiasco? Well, most of those who sued their broker won in court... just sayin'
July 31, 2013, 05:04:27 PM
Hi Burnside,
How are we (those of us who's Bitcoins didn't go through) going to get our shares?
Thanks for answering.
Lol, this guy is persistent. Hopefully this spam will end at 9pm EST.
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