[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 887.

twentyseventy

legendary

Activity: 1386

Merit: 1000

Quote from: Kushedout on July 31, 2013, 12:29:40 PM

Quote from: TheSwede75 on July 31, 2013, 12:25:22 PM

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

Just pull the trigger at the stated time, release the entire amount, at the IPO price and let the market decide.

I'll provide a shoulder for anyone to cry on if their feelings got hurt for only 1btc per 5min.

This is the correct answer. Let the market decide what to pay.

E.Sam

sr. member

Activity: 393

Merit: 250

Quote from: boyohi on July 31, 2013, 12:33:41 PM

Quote from: maxmint on July 31, 2013, 12:28:58 PM

Quote from: TheSwede75 on July 31, 2013, 12:25:22 PM

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

You definitely showed us that you're willing to communicate, so I don't think anyone can blame you or Labcoin for being unprofessional here. I for myself want to thank you for being transparent and for listening to our ideas.

Region lock for 3.5mil shares, America today at 8pm CST and Europe at a convenient time, lock price at IPO first come first serve. After all shares are sold then resume normal bidding.

Since I m in EU, would love to play the ethnocentric card... But isn't this a bit unfair for, let's see, the rest of the "world"?

TheSwede75

full member

Activity: 224

Merit: 100

Quote from: vlaoou321 on July 31, 2013, 12:30:17 PM

Quote from: maxmint on July 31, 2013, 12:28:58 PM

Quote from: TheSwede75 on July 31, 2013, 12:25:22 PM

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

You definitely showed us that you're willing to communicate, so I don't think anyone can blame you or Labcoin for being unprofessional here. I for myself want to thank you for being transparent and for listening to our ideas.

+2

Thx for the kind words. I am (to put it lightly) a little overwhelmed with the response and am doing the best I can.

I think once we are through this situation and things calm down (oh please let them) I may have to write a 'takeaway' post summing up what went right, wrong, and any advice I can give to other people working with or handling communications during IPO's.

foxykah

full member

Activity: 126

Merit: 100

Quote from: boyohi on July 31, 2013, 12:33:41 PM

Quote from: maxmint on July 31, 2013, 12:28:58 PM

Quote from: TheSwede75 on July 31, 2013, 12:25:22 PM

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

You definitely showed us that you're willing to communicate, so I don't think anyone can blame you or Labcoin for being unprofessional here. I for myself want to thank you for being transparent and for listening to our ideas.

Region lock for 3.5mil shares, America today at 8pm CST and Europe at a convenient time, lock price at IPO first come first serve. After all shares are sold then resume normal bidding.

oh then I know the first problem: why USA first? this is a no win solution.

boyohi

full member

Activity: 182

Merit: 100

Quote from: maxmint on July 31, 2013, 12:28:58 PM

Quote from: TheSwede75 on July 31, 2013, 12:25:22 PM

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

You definitely showed us that you're willing to communicate, so I don't think anyone can blame you or Labcoin for being unprofessional here. I for myself want to thank you for being transparent and for listening to our ideas.

Region lock for 3.5mil shares, America today at 8pm CST and Europe at a convenient time, lock price at IPO first come first serve. After all shares are sold then resume normal bidding.

zy02264

member

Activity: 116

Merit: 10

Quote from: Kushedout on July 31, 2013, 12:29:40 PM

Quote from: TheSwede75 on July 31, 2013, 12:25:22 PM

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

Just pull the trigger at the stated time, release the entire amount, at the IPO price and let the market decide.

I'll provide a shoulder for anyone to cry on if their feelings got hurt for only 1btc per 5min.

Dude! You should totally set up a shoulder IPO

noah tall

full member

Activity: 524

Merit: 100

Quote from: Ytterbium on July 31, 2013, 11:32:43 AM

Quote from: TheSwede75 on July 31, 2013, 11:25:47 AM

I do not predict this being a problem. At least not on any 'scale' as creating a bunch of sock-puppet accounts 'just in case' seems like quite an undertaking when no solution has been posted yet. Then again, I also didn't predict the asset to be approved in 7 hours or with this interest so maybe I should just stop predicting things... Sad

Here is what I'd do in your situation:

1) Reset all bids > 0.001 to 0.001
2) Set a cap on the number of shares each person can get
3) After the cap is in place, if it's still over 7mil then scale back orders based on % of orders placed.

Right now there are only about 11m orders placed > 0.001, which means if no new orders come in everyone gets 63% of what they asked for. With a cap, it should be a pretty big portion of what everyone, except the huge orders, wanted.

+1

runam0k

legendary

Activity: 1092

Merit: 1001

Touchdown

Quote from: Kushedout on July 31, 2013, 12:29:40 PM

Quote from: TheSwede75 on July 31, 2013, 12:25:22 PM

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

Just pull the trigger at the stated time, release the entire amount, at the IPO price and let the market decide.

I'll provide a shoulder for anyone to cry on if their feelings got hurt for only 1btc per 5min.

I agree, just make it 10am London (UK) time thx. Grin

vlaoou321

sr. member

Activity: 266

Merit: 250

Quote from: maxmint on July 31, 2013, 12:28:58 PM

Quote from: TheSwede75 on July 31, 2013, 12:25:22 PM

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

You definitely showed us that you're willing to communicate, so I don't think anyone can blame you or Labcoin for being unprofessional here. I for myself want to thank you for being transparent and for listening to our ideas.

+2

Ytterbium

full member

Activity: 238

Merit: 100

The problem with the "return excess buying as dividend" plan is that there will be no 'cap', it will encourage people to buy way more then they actually want.

Kushedout

legendary

Activity: 1123

Merit: 1000

SaluS - (SLS)

Quote from: TheSwede75 on July 31, 2013, 12:25:22 PM

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

Just pull the trigger at the stated time, release the entire amount, at the IPO price and let the market decide.

I'll provide a shoulder for anyone to cry on if their feelings got hurt for only 1btc per 5min.

Mabsark

legendary

Activity: 826

Merit: 1004

Quote from: foxykah on July 31, 2013, 11:51:57 AM

Quote from: zy02264 on July 31, 2013, 11:49:50 AM

Quote from: TheSwede75 on July 31, 2013, 11:34:52 AM

Quote from: Ytterbium on July 31, 2013, 11:32:43 AM

Quote from: TheSwede75 on July 31, 2013, 11:25:47 AM

I do not predict this being a problem. At least not on any 'scale' as creating a bunch of sock-puppet accounts 'just in case' seems like quite an undertaking when no solution has been posted yet. Then again, I also didn't predict the asset to be approved in 7 hours or with this interest so maybe I should just stop predicting things... Sad

Here is what I'd do in your situation:

1) Reset all bids > 0.001 to 0.001
2) Set a cap on the number of shares each person can get
3) After the cap is in place, if it's still over 7mil then scale back orders based on % of orders placed.

Right now there are only about 11m orders placed > 0.001, which means if no new orders come in everyone gets 63% of what they asked for. With a cap, it should be a pretty big portion of what everyone, except the huge orders, wanted.

Personally I have to say that I quite like this solution. I will still wait until I can get guidance by Burnside before we make any decision. As previously stated, I just don't feel confident in taking any action by myself.

Higher bid should be filled first, this maybe not perfect, but its efficiency was approved by real stock market in real life.

Your solution seems fair. But you know what, there gonna be a lot new accounts being registered in next few hours, at least I am going to do so.

I know you are trying to do it fairly. But please keep the basic logic of free market in mind. Other idea without think about it only lead to more loopholes.

timestamps. timestamps everywhere. only accounts registered before the time the "Do not move your bids" post was made should get shares.

No they shouldn't. I placed my initial bid last night and increase that bid this morning, after that post was made, yet before I had read it. Why should I lose out? The timestamp idea is simply unworkable due to many people doing the same.

maxmint

hero member

Activity: 700

Merit: 500

Quote from: TheSwede75 on July 31, 2013, 12:25:22 PM

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

You definitely showed us that you're willing to communicate, so I don't think anyone can blame you or Labcoin for being unprofessional here. I for myself want to thank you for being transparent and for listening to our ideas.

runam0k

legendary

Activity: 1092

Merit: 1001

Touchdown

Quote from: BitHub on July 31, 2013, 12:01:29 PM

sec have been notified and are on standby

TheSwede75

full member

Activity: 224

Merit: 100

Quote from: boyohi on July 31, 2013, 12:23:54 PM

Quote from: TheSwede75 on July 31, 2013, 12:22:49 PM

Quote from: twentyseventy on July 31, 2013, 12:20:02 PM

Quote from: E.Sam on July 31, 2013, 12:03:08 PM

Is everyone dumping their portfolio for Labcoin IPO?

Woo! Go DMS.SELLING!

I think there are a LOT of factors to the market movements. Not only our IPO but BTCgarden and several other large IPO's in China today.

Stop being modest. We all know its your IPO.

On the grand scheme of things, our IPO is 7000 BTC. This is roughly 1/100th of the total value of ASICMINER if I am not mistaken. But thank you

boyohi

full member

Activity: 182

Merit: 100

Quote from: foxykah on July 31, 2013, 12:25:51 PM

+1

I seem to be very agreeable today. So many +1

E.Sam

sr. member

Activity: 393

Merit: 250

Quote from: foxykah on July 31, 2013, 12:25:51 PM

Quote from: boyohi on July 31, 2013, 12:23:54 PM

Quote from: TheSwede75 on July 31, 2013, 12:22:49 PM

Quote from: twentyseventy on July 31, 2013, 12:20:02 PM

Quote from: E.Sam on July 31, 2013, 12:03:08 PM

Is everyone dumping their portfolio for Labcoin IPO?

Woo! Go DMS.SELLING!

I think there are a LOT of factors to the market movements. Not only our IPO but BTCgarden and several other large IPO's in China today.

Stop being modest. We all know its your IPO.

+1

foxykah

full member

Activity: 126

Merit: 100

Quote from: boyohi on July 31, 2013, 12:23:54 PM

Quote from: TheSwede75 on July 31, 2013, 12:22:49 PM

Quote from: twentyseventy on July 31, 2013, 12:20:02 PM

Quote from: E.Sam on July 31, 2013, 12:03:08 PM

Is everyone dumping their portfolio for Labcoin IPO?

Woo! Go DMS.SELLING!

I think there are a LOT of factors to the market movements. Not only our IPO but BTCgarden and several other large IPO's in China today.

Stop being modest. We all know its your IPO.

+1

TheSwede75

full member

Activity: 224

Merit: 100

Since no solution at this point will be 'perfect' and we are doing the best we can I would like to apologize in advance to anyone that feels that our solution is unfair. As previously mentioned, we had no way of anticipating asset-release time or interest in the IPO.

boyohi

full member

Activity: 182

Merit: 100

Quote from: TheSwede75 on July 31, 2013, 12:22:49 PM

Quote from: twentyseventy on July 31, 2013, 12:20:02 PM

Quote from: E.Sam on July 31, 2013, 12:03:08 PM

Is everyone dumping their portfolio for Labcoin IPO?

Woo! Go DMS.SELLING!

I think there are a LOT of factors to the market movements. Not only our IPO but BTCgarden and several other large IPO's in China today.

Stop being modest. We all know its your IPO.

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 887. (Read 1079974 times)