[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 891.

foxykah

full member

Activity: 126

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, I support.

joele

legendary

Activity: 1022

Merit: 1000

Just do the normal IPO, highest bids first.
Then the IPO fund will exceed to 7000 btc, return the extra as dividend.

vlaoou321

sr. member

Activity: 266

Merit: 250

The best way, more than 0.001 will not be allowed to buy, according to the order has purchased IPO shares. Because just want to 0.001 price IPO. Otherwise the other way to sell IPO shares.

Ytterbium

full member

Activity: 238

Merit: 100

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.

TheSwede75

full member

Activity: 224

Merit: 100

Quote from: ?? on ??

This IPO is a clusterfuck.

I totally understand your frustration. Unfortunately all we can do is try to handle the situation as well as possible. I think that this IPO may lead to BTCT.CO developing a new system for how IPO's are voted on and released in the future, so hopefully something good will come out of this situation.

yxxyun

member

Activity: 99

Merit: 10

we can start the labcoin and btcgarden at same time , so every one can buy shares at IPO price ...

VinceSamios

sr. member

Activity: 448

Merit: 250

Quote from: foxykah on July 31, 2013, 11:30:19 AM

Quote from: wiak2 on July 31, 2013, 11:29:04 AM

Quote from: ?? on ??

This IPO is a clusterfuck.

If, as you have said, you're not interested in this stock, then get the fuck out of here. No reason to sit around and criticize.

+1

Call me evangelical... trying to save the paupers.

VinceSamios

sr. member

Activity: 448

Merit: 250

Quote from: E.Sam on July 31, 2013, 11:27:49 AM

I think since I live in the Uk, I have blues eyes and I'm circumcised, my order should be filled in first... Roll Eyes

+1 best logic.

foxykah

full member

Activity: 126

Merit: 100

Quote from: wiak2 on July 31, 2013, 11:29:04 AM

Quote from: ?? on ??

This IPO is a clusterfuck.

If, as you have said, you're not interested in this stock, then get the fuck out of here. No reason to sit around and criticize.

+1

wiak2

sr. member

Activity: 560

Merit: 250

Quote from: ?? on ??

This IPO is a clusterfuck.

If, as you have said, you're not interested in this stock, then get the fuck out of here. No reason to sit around and criticize.

vlaoou321

sr. member

Activity: 266

Merit: 250

Quote from: limbaugh on July 31, 2013, 11:23:28 AM

Quote from: Ytterbium on July 31, 2013, 11:22:42 AM

Quote from: limbaugh on July 31, 2013, 11:18:12 AM

Good idea, only accounts created before 7/30 can participate in IPO

Why would they want to exclude people who signed up just to buy this stock?

To prevent multiple account being created to skirt the cap. If there were a cap.

Why more people involved? If the stock IPO just to let more people involved. The world will not

E.Sam

sr. member

Activity: 393

Merit: 250

I think since I live in the Uk, I have blues eyes and I'm circumcised, my order should be filled in first... Roll Eyes

Ytterbium

full member

Activity: 238

Merit: 100

Quote from: limbaugh on July 31, 2013, 11:23:28 AM

Quote from: Ytterbium on July 31, 2013, 11:22:42 AM

Quote from: limbaugh on July 31, 2013, 11:18:12 AM

Good idea, only accounts created before 7/30 can participate in IPO

Why would they want to exclude people who signed up just to buy this stock?

To prevent multiple account being created to skirt the cap. If there were a cap.

No one is going to create 100, or 1000 accounts, it's too much work.

On the other hand, everything they do with the bids has to be done by writing code or at least SQL queries. Adding more and more restrictions is and rules is going to make the whole process more and more complicated, and more prone to error and oversight.

TheSwede75

full member

Activity: 224

Merit: 100

Quote from: limbaugh on July 31, 2013, 11:23:28 AM

Quote from: Ytterbium on July 31, 2013, 11:22:42 AM

Quote from: limbaugh on July 31, 2013, 11:18:12 AM

Good idea, only accounts created before 7/30 can participate in IPO

Why would they want to exclude people who signed up just to buy this stock?

To prevent multiple account being created to skirt the cap. If there were a cap.

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

vlaoou321

sr. member

Activity: 266

Merit: 250

How about this. Chronologically later than 0.001 will allow, in chronological order to obtain 0.001 IPO shares. Because the mind does not intend to profit in the auction, but the price to sell shares to 0.001,

limbaugh

legendary

Activity: 1311

Merit: 1000

Quote from: Ytterbium on July 31, 2013, 11:22:42 AM

Quote from: limbaugh on July 31, 2013, 11:18:12 AM

Good idea, only accounts created before 7/30 can participate in IPO

Why would they want to exclude people who signed up just to buy this stock?

To prevent multiple account being created to skirt the cap. If there were a cap.

Ytterbium

full member

Activity: 238

Merit: 100

Quote from: limbaugh on July 31, 2013, 11:18:12 AM

Good idea, only accounts created before 7/30 can participate in IPO

Why would they want to exclude people who signed up just to buy this stock?

LordMeowMeow

sr. member

Activity: 617

Merit: 250

Quote from: hammurabi on July 31, 2013, 11:13:28 AM

I think TheSwede75 is trying to do his best, but the whole thing is turning into a kind of a show now.

First there was a statement that before the trading there will be up to 16-24h time to make a bid. It was changed.
Then higher bid wins is going to change to yet unknown formula.
Then You state that You don't want to take any more money per share than 0.001 but taking circumstances You will do so.

So i think IPO should be delayed and solution should be worked out in a calm and steady pace instead of this rush.

Giant +1

I woke up this morning to an IPO I wanted in with tons of orders and no chance to get in. I specifically asked if a warning would be given. Honest mistake I am sure but this situation is simply not fair.

aquarius

sr. member

Activity: 275

Merit: 250

Quote from: yxxyun on July 31, 2013, 11:17:22 AM

yes ,i'm the first bid at 0.001, after a few hour i had to rise my bid price because i'm afraid of be kick out the sequence...

I also had to move my early bids from 0.001 upwards because of this

limbaugh

legendary

Activity: 1311

Merit: 1000

Quote from: damiano on July 31, 2013, 11:16:46 AM

just limit every order to 5k to 10k problem solved

everyone gets a piece of the pie

Good idea, only accounts created before 7/30 can participate in IPO

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 891. (Read 1079974 times)