[LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 905.

Ytterbium

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Quote from: dexX7 on July 31, 2013, 02:23:42 AM

Quote from: Ytterbium on July 31, 2013, 01:55:50 AM

Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs? Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)

First in, first out.

Then what's the point of having an issuer lock in the first place?

Surely the "Free market" would allow Labcoin to sell shares to whoever wants them, and distribute shares to those who want them fairly.

Do you actually know what you're talking about or are you just guessing here?

yxxyun

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I think higher bid price will got filled first.

dexX7

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Don't get me wrong please. Maybe the generalized "any regulation" was a bit exaggerated. I refered to limiting the number of purchasable shares in this case. Discussion about other regulations should go into another thread. If you want to open one, I'll join. Wink

To those who place bids > 0.001:

You wast money. One single overpriced bid is enough to raise the daily, weekly and monthly high.

Edit:

Quote from: superduh on July 31, 2013, 02:20:14 AM

So you're saying that even those orders submitted above the 0.001 price will be filled in the order they were placed? There's no danger of my shares already bid at 0.001 being displaced by late high bids if the IPO is oversubscribed?
I couldn't find any info about the procedure for IPOs on btct - do you know this from experience or is it specified somewhere?

I didn't think about the case that the IPO is completly filled. When the IPO starts, LABCOIN places an ask order of 7000000 shares on 0.001. This will consume bids >= 0.001.

If less than 7000000 shares due to that order are sold, the remaining shares will remain on 0.001. If there are more than 7000000 bids >= 0.001, those who placed their bids for a higher price or earlier than the rest gets filled. After that there is no more share to sell and the new price is defined by the next placed ask order.

julz

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Quote from: dexX7 on July 31, 2013, 02:23:42 AM

Quote from: Ytterbium on July 31, 2013, 01:55:50 AM

Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs? Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)

First in, first out.

There are multiple orders sitting on 0.001 (here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed.

Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end.

If you want to be very sure to get your shares, place an order on 0.001.

Good luck, LABCOIN! I'm following. Wink

Edit:

Quote from: superduh on July 31, 2013, 02:20:14 AM

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck

No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price.

Relax please. Wink

So you're saying that even those orders submitted above the 0.001 price will be filled in the order they were placed? There's no danger of my shares already bid at 0.001 being displaced by late high bids if the IPO is oversubscribed?
I couldn't find any info about the procedure for IPOs on btct - do you know this from experience or is it specified somewhere?

Vigil

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Merit: 250

Quote from: superduh on July 31, 2013, 02:48:36 AM

Quote from: Vigil on July 31, 2013, 02:45:15 AM

Damn, Transfer to BTC-TC takes forever.

6 confirms. so i'd guess 45 minutes

3 confirms, and it is taking 45 min for 1 confirm.

yxxyun

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if the total bid BTC is not reach 7000BTC , I don't think we need pay higher than the IPO price.

superduh

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Quote from: Vigil on July 31, 2013, 02:45:15 AM

Damn, Transfer to BTC-TC takes forever.

6 confirms. so i'd guess 45 minutes

edit- o wow 38 minutes between the last 2 blocks!

Franktank

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IPO is about to be 50% filled... Before the asset is even unlocked...

Vigil

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Damn, Transfer to BTC-TC takes forever.

Franktank

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Quote from: superduh on July 31, 2013, 02:36:30 AM

Quote from: dexX7 on July 31, 2013, 02:23:42 AM

Quote from: Ytterbium on July 31, 2013, 01:55:50 AM

Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs? Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)

First in, first out.

There are multiple orders sitting on 0.001 (here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed.

Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end.

If you want to be very sure to get your shares, place an order on 0.001.

Good luck, LABCOIN! I'm following. Wink

Edit:

Quote from: superduh on July 31, 2013, 02:20:14 AM

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck

No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price.

Relax please. Wink

there's a reason why regulations exist and some of it actually makes sense (not all) - read about why regulations were enacted after the Great Depression. too simple to float around the words anti-regulation.

Don't get me wrong, I get why there are rules in place. The thing is we're still in the early "Wild West" days of Bitcoins. Those days will come, for better or worse.

Edit: Trolls are now placing bids 2x - 4x IPO price, dear god...

superduh

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Quote from: dexX7 on July 31, 2013, 02:23:42 AM

Quote from: Ytterbium on July 31, 2013, 01:55:50 AM

Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs? Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)

First in, first out.

There are multiple orders sitting on 0.001 (here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed.

Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end.

If you want to be very sure to get your shares, place an order on 0.001.

Good luck, LABCOIN! I'm following. Wink

Edit:

Quote from: superduh on July 31, 2013, 02:20:14 AM

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck

No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price.

Relax please. Wink

there's a reason why regulations exist and some of it actually makes sense (not all) - read about why regulations were enacted after the Great Depression. too simple to float around the words anti-regulation.

dexX7

legendary

Activity: 1106

Merit: 1026

Yay, this is exciting. Maybe it does get filled, before trading even starts... Grin

At least a decent quck is already done.

TheSwede75:

1. Can we expect regular updates on less than weekly basis?

2. How do you plan to convert 7000 Bitcoin into fiat? No need for full disclosure, but this question is critical.

3. Please send a dev over to answer Vbs's questions from here.

dhenson

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Quote from: Ytterbium on July 31, 2013, 02:01:45 AM

Apparently someone put in a bid for 1.3 million shares. About $130k USD.

You counted too many 0's, it was 130,000

KCBitcoin

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omg....2 million already?

canth

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Quote from: Sou on July 31, 2013, 02:23:12 AM

I'm just going to throw this idea out there to the wolves of the form, but...what if Litecoin for whatever reason started to gain traction and it become increasingly more profitable to mine. How long would it be for one of these leading bodies in the BTC mining movement to direct some attention to mining Litecoin (or any other alt)? Or, would that risk letting your position slip in the BTC mining arms race?

It would take a significant amount of time and LTC would need to drastically rise in value for it to happen. Scrypt based ASICs are certainly possible, but they wouldn't provide the massive bump in efficiency that each generation of SHA ASICs deliver.

In my opinion, it would take longer than starting from scratch to build a SHA ASIC. Many months.

Franktank

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Activity: 560

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Quote from: superduh on July 31, 2013, 02:20:14 AM

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

Unlikely, this is the "free market." You take the good and the bad, have both or none. If that doesn't float your boat, I suggest checking out NYSE...

dexX7

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Quote from: Ytterbium on July 31, 2013, 01:55:50 AM

Interesting to see this play out - what happens if more bids are placed then shares when the IPO occurs? Are the shares divided evenly based on order size, or is it first-come first serve (Which would defeat the purpose of the lock, as far as I can tell)

First in, first out.

There are multiple orders sitting on 0.001 (here. Those whose orders are placed > 0.001 will pay the additional coins, when the ask wall is placed.

Currently BTC-TC's asset have a combined market cap of ~170k Bitcoin and a daily average volumen of 3700 Bitcoin which peaked at nearly 9.5k a few days before. I don't expect this IPO filled within minutes, but nevertheless in a short timeframe. The fill rate isn't steady and fastens at the end.

If you want to be very sure to get your shares, place an order on 0.001.

Good luck, LABCOIN! I'm following. Wink

Edit:

Quote from: superduh on July 31, 2013, 02:20:14 AM

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck

No, I'm against any regulation. And it would be crazy if you miss to get shares in an 7000 Bitcoin IPO, because single entitites purchased "too much". The price won't change because of those orders which are higher than the IPO price.

Relax please. Wink

Sou

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Activity: 210

Merit: 100

(Bitcoin related text here)

I'm just going to throw this idea out there to the wolves of the form, but...what if Litecoin for whatever reason started to gain traction and it become increasingly more profitable to mine. How long would it be for one of these leading bodies in the BTC mining movement to direct some attention to mining Litecoin (or any other alt)? Or, would that risk letting your position slip in the BTC mining arms race?

superduh

hero member

Activity: 602

Merit: 500

burnside should limit how many shares a person can purchase (although that can be manipulated by opening up several accounts)
it appears people just want to pick up shares assuming price will go up and dump as soon as it does.

people putting over the ipo price hoping those orders will get filled first and that the price bump will be significant. the things people do to make a buck

Ytterbium

full member

Activity: 238

Merit: 100

The interesting thing is - these companies could potentially diversify and start producing other types of microchips as well, if mining ends up becoming difficult to profit from.

Topic: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining) - page 905. (Read 1079974 times)