Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 895. (Read 1079974 times)

Agree 100%. There was no promise of pre-IPO bidding, and I think that cancelling all the bid orders is in no way a conflicting with anything that has been said by you.

Coming from someone with a large bid higher than the IPO, this is the best, most fair option for labcoin.

Currently people are outbidding each other so it isn't any more different because the highest bidder wins as well.
In my proposal when you are small you get at least small amount of shares instead of nothing.

It can be combined with upper fund shares limit to make it fairer for smaller people.

This way there won't be problem with timing and the whole process can be spanned over 24h without the problem.
Which could allow TheSwede to keep his word on 16-24h time before ipo. Which he changed to 8h.

Reduction can be calculated on the fly and showed on the page so everybody can see live how things develops. Even throw in some more money.

They can only realistically make so many accounts.  I mean, no one is going to sit there and create 100 accounts. They might be able to do it if they had time to write software but at this point?

They can just buy shares from people trying to flip the stock after it IPOs.

But, it sounds like btct.co is not going to write any new code to do things like that for this IPO.

It seems like every IPO becomes a cash and grab with very little actual interest in the IPO itself until the massive upsell dies down.

Don't know why exchanges don't put a hard limit on #shares/buyer to ensure that people who are actually interested in LabCoin/NextIPO can get shares and not just the big fish who will flip it ten seconds later (Sandstorm?).

@TheSwede75

As the person in charge of PR/communication at the moment, can you please address the following posts? They are important claims/questions that need to be answered so that possible investors can get a better sense of the potential of your venture.

TECHNICAL ASPECTS (needs to be addressed by a dev):


TIME FRAME:

Is your 130nm chip set to being finished in Q4 2013? If so, do you plan on rolling out mining hardware from other manufacturers in the mean time (as ACTM is doing)?

It won't make that much of a difference if the order book is wiped or not.  People are going to run the price way up either way.

1) If the order book isn't wiped there's going to be a slow run up in price as we get closer to 8:00 PM, a herd mentality might start to come into play and the actual offer price might end up being a lot higher then is really warranted. Labcoin might get a lot more cash, but they won't have anything specific to spend it on and might have trouble offering a good dividend payout ratio for their shareholders. OTOH if they can figure out how to use the money to increase their profits it could work out OK

2) If the order book is cleared, basically you're going to have everyone try to bid at the exact same moment.  It would be completely chaotic, and who the shares go too might basically be determined by when they refresh the page, and if it brings down the site that's going to completely suck.

___

If it was me, what I would do would be to re-do the prospectus and instead of a fixed, 10m shares, have the option of creating enough shares to fill all orders up to 0.001.  That way, you don't have the issue of a limited supply driving up prices artificially, and at the same time - you still get more money if more people are interested

On the other hand, between the options of keeping the current order book or starting with a blank one at exactly 8:00 PM, I would go with keeping the order book open.  Wiping the book will just result in a totally chaotic process.

Then the big buyers will make multiple accounts and afterwards transfer all shares to the main account.

The bottom line is the .001 price for the ipo is way too cheap.

I sold 250 shares of Basic mining for this IPO and now... I'm going to get potentially 0 shares tonight because of the overload... just hit the book already

If you are going to take "bids", ie allow for buyers to pay more than the IPO, then you should not give the exact time it will be live. People will have to put in their bids and wait to see. Otherwise, as many have said, you will see a rush of bids at the end/beginning of the IPO. Let them put in what they will pay and not what they will pay to stop others from getting shares.

If you are only going to offer IPO @ 0.001, then yes wipe the bids and see if the servers can handle the load.

It's not bad, I prefer it to just selling 7.000.000 at 0.001 and first come first first. But it's a little unfair to the little guy .

This is a no win situation.

I think wiping all the orders shouldn't even be an option.  There is no way the current servers can handle such a load.   Shit they barely can handle heavy trading at times

one tentative solution: set a restrction in buying volume of each account, which can benifit more investors, not just benifit big guys. Supposed the stock will rocket to the moon.

It should be very easy to implement as well. Burnside will issue a labcoin-ipo-fund with unlimited supply at fixed price 0.001. When time is up:
Number of your labcoin-ipo-fund shares / all of labcoin-ipo-fund sold = percantage of real shares you bought.

test


so yeah, please address valuation question.

So the one with the biggest pockets get his required number of shares. i.e. I want to buy 10000, put a order @ 100000 just because I have the funds, and get my 10000.

Not sure if that's very fair either.

I'm with you on that one... this is something Burnside should look at

maybe fairer was the wrong word. he said it would be released at a fixed time but nobody expected the orderbook to start filling up more than 24 hours before the IPO.

I already mentioned some good reasons in my post why it would be better to allow open orders before IPO - mainly that it would be not just "luck" who managed to get an order through and also labcoin would make more from the IPO. However I think 24 hours of open orders before IPO is a little excessive

20:00 London time?

TheSwede75 decide to start IPO during you sleep time. You become so unhappy. At the same time, you claim that he shouldn't sleep at all. Irony??