Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 897. (Read 1079974 times)
July 31, 2013, 08:36:01 AM
This is why we need a dark pool......................
July 31, 2013, 08:35:55 AM
I can't really stress enough how bad an idea it is to wipe the order book at this point.
Going to sleep? Place a higher bid - you'll probably get some shares.
All wiping the order book does is ensure that only people awake when the IPO sale is actually placed (or when the order book is re-opened) will get shares. Let people do their own math and place their bids accordingly - deliver the sale per the terms you've agreed to at the time you've agreed to it.
------------
And an update,
When 7,000,000 shares are sold by issuer at 0.001
As of the last time I pulled it (so 13:24 forumtime)
Going to sleep? Place a higher bid - you'll probably get some shares.
All wiping the order book does is ensure that only people awake when the IPO sale is actually placed (or when the order book is re-opened) will get shares. Let people do their own math and place their bids accordingly - deliver the sale per the terms you've agreed to at the time you've agreed to it.
------------
And an update,
When 7,000,000 shares are sold by issuer at 0.001
- All bids in equal to or greater than 0.001011 will be filled
- The first 553,680 shares bid at 0.00101 will be filled
- Any lower bids will NOT be filled.
As of the last time I pulled it (so 13:24 forumtime)
I am a bit confused. if I place my bids higher than 0.001 in the order book am I not then guaranteed to get my shares before those who bid lower?
That was just a typo. I m sure he meant 0.00110 and not 0.00101
July 31, 2013, 08:35:32 AM
July 31, 2013, 08:35:04 AM
Resetting an orderbook and going to a purely timebased IPO is both lame and bad for small market cap companies.
What's wrong with a time-range and let the market decide what the right price is to have an order filled instead of blind luck?
If you go for this timing based IPO then please set a cap to how many shares one person can buy... (I suggest a 10K Shares limit / person)
I don't understand anyone defending the orderbook reset option.
What's wrong with a time-range and let the market decide what the right price is to have an order filled instead of blind luck?
If you go for this timing based IPO then please set a cap to how many shares one person can buy... (I suggest a 10K Shares limit / person)
I don't understand anyone defending the orderbook reset option.
July 31, 2013, 08:34:45 AM
what a bad start
July 31, 2013, 08:34:36 AM
I can't really stress enough how bad an idea it is to wipe the order book at this point.
Going to sleep? Place a higher bid - you'll probably get some shares.
All wiping the order book does is ensure that only people awake when the IPO sale is actually placed (or when the order book is re-opened) will get shares. Let people do their own math and place their bids accordingly - deliver the sale per the terms you've agreed to at the time you've agreed to it.
------------
And an update,
When 7,000,000 shares are sold by issuer at 0.001
As of the last time I pulled it (so 13:24 forumtime)
Going to sleep? Place a higher bid - you'll probably get some shares.
All wiping the order book does is ensure that only people awake when the IPO sale is actually placed (or when the order book is re-opened) will get shares. Let people do their own math and place their bids accordingly - deliver the sale per the terms you've agreed to at the time you've agreed to it.
------------
And an update,
When 7,000,000 shares are sold by issuer at 0.001
- All bids in equal to or greater than 0.001011 will be filled
- The first 553,680 shares bid at 0.00101 will be filled
- Any lower bids will NOT be filled.
As of the last time I pulled it (so 13:24 forumtime)
I am a bit confused. if I place my bids higher than 0.001 in the order book am I not then guaranteed to get my shares before those who bid lower?
July 31, 2013, 08:31:39 AM
I'd be fine with wiping the order book, personally, but I agree - from experience, BTCT is not going to handle this kind of load. It will go down, people will get random orders filled, many will be upset.
With that said, this is where Burnside should comment.
With that said, this is where Burnside should comment.
July 31, 2013, 08:31:31 AM
You are in this discussion. From the parties concerned. This is a very good marketing
July 31, 2013, 08:30:51 AM
TheSwede75 Offline
July 31, 2013, 08:28:29 AM
I can't really stress enough how bad an idea it is to wipe the order book at this point.
Going to sleep? Place a higher bid - you'll probably get some shares.
All wiping the order book does is ensure that only people awake when the IPO sale is actually placed (or when the order book is re-opened) will get shares. Let people do their own math and place their bids accordingly - deliver the sale per the terms you've agreed to at the time you've agreed to it.
------------
And an update,
When 7,000,000 shares are sold by issuer at 0.001
As of the last time I pulled it (so 13:24 forumtime)
Going to sleep? Place a higher bid - you'll probably get some shares.
All wiping the order book does is ensure that only people awake when the IPO sale is actually placed (or when the order book is re-opened) will get shares. Let people do their own math and place their bids accordingly - deliver the sale per the terms you've agreed to at the time you've agreed to it.
------------
And an update,
When 7,000,000 shares are sold by issuer at 0.001
- All bids equal to or greater than 0.001011 will be filled
- The first 553,680 shares bid at 0.00101 will be filled
- Any lower bids will NOT be filled.
As of the last time I pulled it (so 13:24 forumtime)
July 31, 2013, 08:26:40 AM
How about we freeze it now, honor the bids ( do you really need more money for company ? ). Release shares and let the market do the rest
And the obvious reason is BTCTC cannot handle that kind a traffic if you release them at on bulk
And the obvious reason is BTCTC cannot handle that kind a traffic if you release them at on bulk
July 31, 2013, 08:26:35 AM
could you please do it 6 hours earlier or a few hours later so that we in Europe don´t have to get up in the middle of the night?
You realize that a few hours later makes it the same problem in the US and a few hours earlier makes it the same problem in Asia, right? I realize that it sucks, but you're not solving the problem by shifting the time around.
There's no good time for 3 major time zone regions that isn't the middle of the night for someone.
I bet we can find a time that suits everyone better than the one we have right now with Europe being at 3am
July 31, 2013, 08:25:56 AM
I don't get the cancel all pre orders idea. The investors want to pay more than anticipated, let them. It will give Labcoin more money to do their thing.
Labcoin should have set the IPO price to a range, not a fixed value. For example 0.001 to 0.002. Price to be decided at start of IPO. Then all pre orders can be traded.
Labcoin should have set the IPO price to a range, not a fixed value. For example 0.001 to 0.002. Price to be decided at start of IPO. Then all pre orders can be traded.
July 31, 2013, 08:25:47 AM
Cancelling all the bids is a bad idea.
BTCTC barely handles any kind of load as it is.
Cancelling the bids will result in massive overload at the stated time of the ipo going live (which should NOT now be changed under ANY circumstances).
The server will crash with 100% certainty. There is no doubt about this whatsoever.
You'll have, at best, random chance on who gets bids filled AND the server will be down for everyone for an indeterminate amount of time.
This is not unforeseen, it is entirely predictable. In case those involved can't predict it, I'm predicting it here. Now you know.
Don't go this route.
BTCTC barely handles any kind of load as it is.
Cancelling the bids will result in massive overload at the stated time of the ipo going live (which should NOT now be changed under ANY circumstances).
The server will crash with 100% certainty. There is no doubt about this whatsoever.
You'll have, at best, random chance on who gets bids filled AND the server will be down for everyone for an indeterminate amount of time.
This is not unforeseen, it is entirely predictable. In case those involved can't predict it, I'm predicting it here. Now you know.
Don't go this route.
July 31, 2013, 08:25:28 AM
Give notice that it will go "live" at any time in the next 24 hours. Bids will need to be in and no one will know exactly when it goes off. Less chance of swoop-and-grab bid at the bell.
July 31, 2013, 08:25:21 AM
Hello! I have indeed been ASLEEP! We have NOT released the shares for sale as we promised we would give the forum a set time for the IPO to keep it as far as possible. The shares will be released AT IPO PRICE 0.001 BTC in 12 HOURS. That is 8 PM CENTRAL TIME!
Sorry for any confusion, but I had no way of knowing the IPO would be apprived while I was sleeping (I am not always awake 24/7 on bitcointalk.org
Sorry for any confusion, but I had no way of knowing the IPO would be apprived while I was sleeping (I am not always awake 24/7 on bitcointalk.org
Smart decision. Convenient for American - the No.1 BTC user group. Its also convenient for Chinese - the No.2 BTC user group as it will be 9 AM BEIJING TIME. Sorry for European...
Suggestion: cancel all the bids and lock it. Release it one hour or 30 minutes right before start time.
Wow... Racist much? And pretty unfounded?
6 PM CET would be a lot better for everyone involved:
6 PM Convenient for North and South America
12 PM Still manageable for Europeans (12 PM UK, 1 AM Central Europe)
7 AM in Asia is also more the manageable
July 31, 2013, 08:24:52 AM
could you please do it 6 hours earlier or a few hours later so that we in Europe don´t have to get up in the middle of the night?
You realize that a few hours later makes it the same problem in the US and a few hours earlier makes it the same problem in Asia, right? I realize that it sucks, but you're not solving the problem by shifting the time around.
There's no good time for 3 major time zone regions that isn't the middle of the night for someone.
July 31, 2013, 08:22:56 AM
just let the bids be like they are. Let people from Europe buy their time with higher bids
or even better - split IPO into 2 parts. One release in 12 hours, one released in 24 hours
July 31, 2013, 08:21:51 AM
just let the bids be like they are. Let people from Europe buy their time with higher bids
July 31, 2013, 08:21:30 AM
The IPO time is extremely unfair to any potential EU people. As can be clearly seen in the replies.
And the other way around it would be "extremely unfair" to the other time zones, ever thought about that?
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