The price on this will run higher than what people are expecting... it's just so cheap to begin with. Even if people sell at .002 it's cheap. This is even more of a speculators dream than active mining.
Topic: LABCOIN Speculation Thread (Read 10122 times)
he's online. and feeling chatty apparently.
i figured this was a closed issue. watching this intently.
Green
edit: redditsphere is aware. dimly.
http://www.reddit.com/r/BitcoinStocks/comments/1obg9j/sam_noi_finally_emerges_labcoin_announces_planned/
i figured this was a closed issue. watching this intently.
Green
edit: redditsphere is aware. dimly.
http://www.reddit.com/r/BitcoinStocks/comments/1obg9j/sam_noi_finally_emerges_labcoin_announces_planned/
are taking steps to track down Samuel Noi (or/and Fabrizio & Alissia) in case communication is not reestablished.
This fabrizio?http://cn.linkedin.com/in/fabriziotatti
https://www.facebook.com/fabrizio.tatti
Yup
are taking steps to track down Samuel Noi (or/and Fabrizio & Alissia) in case communication is not reestablished.
This fabrizio?http://cn.linkedin.com/in/fabriziotatti
https://www.facebook.com/fabrizio.tatti
more shabby investors will probably take the law in their own hands. What is certain is that many angry people will track them down.
Yeah, just like with pirate40.So... was it a scam, or just incompetence?
Or is it still unclear?
Or is it still unclear?
If it's not a scam, it is very badly managed with he worst communication skills in BTC securities history.
There is a group on IRC made of around 16 shareholders [LCSH] who are taking steps to track down Samuel Noi (or/and Fabrizio & Alissia) in case communication is not reestablished.
In the last QA, "Sam" said they would have the remaining chips up and hashing by the 15th:
[16:04] <+labcoin__> (...) At this point the project won't fail, we will be receiving the complete hardware before 15 October.
That was on the SEP 30TH, 2013 (ref: http://pastebin.com/RSa1JPvM)
If this deadline is not met, then it's most probably a scam. Some will take the legal avenue, while more shabby investors will probably take the law in their own hands. What is certain is that many angry people will track them down.
So... was it a scam, or just incompetence?
Or is it still unclear?
Or is it still unclear?
quick sumarry, for those short on time
shareprice doubles on these revelations
- 'sam' due for update, does not show up, again
- spokesperson demonstrates they've lied about having about previous hash-rate, and instead shows equivalent of 2x bitfury
- Labcoin still refuse to co-operate with owner of exchange (over 1 month they have ignored.)
shareprice doubles on these revelations
Again, here is an information extract from last dozens of Labcoin main thread's pages:
New updates from TheSwede75:
I am in contact with burnside regarding resolving this ASAP. Since the team has separate accounts with BTCT.CO we are trying to find a smart solution to locking a certain amount (75%) of founder shares across several accounts.
I can only reiterate that the same statement as issued is still true and 75% of founder shares are, and will be held for 12 months from the date of the announcement.
Wise from my mistakes I am not giving a deadline, but I hope and think that we can resolve this "warning" very soon.
burnside have changed the wording of the warning at btct:
You are correct and I agree 100%.
The exchange does not know the facts behind the situation and made a public statement.
Statements should be coming from LabCoin.
-Ukyo
The statement the exchange made was 100% factual. Though it could have been worded differently, the warning needed to be made. Attempts at communication prior to the issuance of the warning had not been successful.
I have updated the warning.
For those that are curious about what we are currently trying to figure out, it's this clause:
We have asked for verification of the withholding of 30% of the shares.
Some other users have pointed out, correctly, that other issues have had contract violations. This is true, but I should point out a couple of things. First, the ability to put notices on individual assets is a relatively new feature in the site code. Second, we've also recently placed warnings on other issues elsewhere and we have documented these. Third, we can only place warnings where we are aware of the contractual issues. That is to say that we have to get notice from people familiar with the particular issue and then look into it ourselves.
We'll refine and improve on the process as we have done with most things.
Cheers.
New updates from TheSwede75:
UPDATE:
As usual by now I am very sorry for the lack of updates. I do however at this time have an update for actual hashing.
Though the launch of the mining operation has been delayed and the team is still tweaking miners we now have around 800gh hashing at btcguild at:
http://www.btcguild.com/index.php?page=rankings§ion=teams
The Labcoin team is currently listed as 24 Labcoin.
According to Sam, more hash rate will be deployed daily. I do not have any goals or hash rate estimates to communicate right now but as soon as I do, I will of course communicate this.
I hope that I can provide more timely updates on a lot of open questions shortly, and I hope everyone is having a good weekend.
As usual by now I am very sorry for the lack of updates. I do however at this time have an update for actual hashing.
Though the launch of the mining operation has been delayed and the team is still tweaking miners we now have around 800gh hashing at btcguild at:
http://www.btcguild.com/index.php?page=rankings§ion=teams
The Labcoin team is currently listed as 24 Labcoin.
According to Sam, more hash rate will be deployed daily. I do not have any goals or hash rate estimates to communicate right now but as soon as I do, I will of course communicate this.
I hope that I can provide more timely updates on a lot of open questions shortly, and I hope everyone is having a good weekend.
UPDATE:
Even though I don't like making promises but Sam has assured me that 20TH is a goal that will not be missed within 2 weeks.
I am also working on having the "warning" removed from the security as Sam assured me that the team has not to sell any significant amount of shares and the ownership is still far above the 75% that was communicated as the holding limit.
Even though I don't like making promises but Sam has assured me that 20TH is a goal that will not be missed within 2 weeks.
I am also working on having the "warning" removed from the security as Sam assured me that the team has not to sell any significant amount of shares and the ownership is still far above the 75% that was communicated as the holding limit.
I don't think the locked shares thing is a big deal, but that warning needs to be cleared up ASAP.
I am in contact with burnside regarding resolving this ASAP. Since the team has separate accounts with BTCT.CO we are trying to find a smart solution to locking a certain amount (75%) of founder shares across several accounts.
I can only reiterate that the same statement as issued is still true and 75% of founder shares are, and will be held for 12 months from the date of the announcement.
Wise from my mistakes I am not giving a deadline, but I hope and think that we can resolve this "warning" very soon.
burnside have changed the wording of the warning at btct:
The day before Lehman Bros collapsed the CEO told investors in a conference call that the company was in no danger of insolvency. He knew exactly what was happening.
His defense was that if he had told investors the true state of the company that it would have immediately collapsed due to share selling.
His defense was that if he had told investors the true state of the company that it would have immediately collapsed due to share selling.
You are correct and I agree 100%.
The exchange does not know the facts behind the situation and made a public statement.
Statements should be coming from LabCoin.
-Ukyo
The statement the exchange made was 100% factual. Though it could have been worded differently, the warning needed to be made. Attempts at communication prior to the issuance of the warning had not been successful.
I have updated the warning.
For those that are curious about what we are currently trying to figure out, it's this clause:
Quote
General shareholder contract and IPO information
Labcoin.com aims to raise 7.000 Bitcoin (BTC) through the issue of 7.000.000 shares in the IPO. The shares will be issued at a price of 0.001 BTC per share. The total amount of shares in labcoin.com will be 10.000.000 shares, with labcoin employees, representatives and owners will hold 30% of outstanding shares.
Labcoin.com aims to raise 7.000 Bitcoin (BTC) through the issue of 7.000.000 shares in the IPO. The shares will be issued at a price of 0.001 BTC per share. The total amount of shares in labcoin.com will be 10.000.000 shares, with labcoin employees, representatives and owners will hold 30% of outstanding shares.
We have asked for verification of the withholding of 30% of the shares.
Some other users have pointed out, correctly, that other issues have had contract violations. This is true, but I should point out a couple of things. First, the ability to put notices on individual assets is a relatively new feature in the site code. Second, we've also recently placed warnings on other issues elsewhere and we have documented these. Third, we can only place warnings where we are aware of the contractual issues. That is to say that we have to get notice from people familiar with the particular issue and then look into it ourselves.
We'll refine and improve on the process as we have done with most things.
Cheers.
This thread is weird acts more like an information thread than the main thread ever does
I quoted velacreation's list partly because some readers may have blocked him. I didn't reviewed the troll list, but I remember some of the names posting extreme amount of posts (i.e. velacreations had 10 posts on 2 consecutive pages). Also I can't recall you (pankkake) spamming.
I just quoted the posts that seemed interesting to me for other readers (so they don't have to read the whole spamthread).
I just quoted the posts that seemed interesting to me for other readers (so they don't have to read the whole spamthread).
Highlights:
- dhenson compiled a list of users to ignore (users spamming Labcoin thread with FUD, false quotes...).Offering advice is admittedly pointless in this thread but if you are willing to listen...
I know it's going to be difficult, but stop reading this thread. Seriously, just stop. You have made a (in my opinion 'good') decision to invest in this company. Simply wait it out and ignore everything these guys are posting. In a month I'll either be wrong or right, but I'm betting pretty heavily that I'm right.
If you just can't stay away, at least ignore the following people. They are for the most part blatantly attempting to manipulate shareholders into selling. There might be one or two honest posters in the list that I was a bit rash in clicking the 'ignore' button. But I can honestly say not having to read their FUD has made this thread much more bearable.
Anotheranonlol
iCEBREAKER
kokojie
pankkake
velacreations
drawingthesun
wickedgoodtrader
physalis
aquarius
Vigil
camu6TMAN
limbaugh
well.attenuated
AngelSky
eve
crumbs
TECHICENINE
Stuartuk
zumzero
Zakryze - velacreations compiled a list of Labcoin promises:Actually they have been keeping their word recently posted update friday on time, posted address on wenesday, within 12 hours much earlier they signed it and hashed on Slush's pool.
If we go by their recent history they are keeping their words.
dude, seriously, don't even try that bullshit:The website will be updated this week in order to show our live hashing rateWe're mining in solo mode but live hashrate will be shown on our website next week.we will deploy the same mechanism ASICMINER uses for signing found blocks and publish them on our website.We will post board picture and more within the weekend, and as soon as we reach 10 TH of deployed hardware block labeling will be mirrored on the site with other stats like speed, etc.We promise pictures of some boards mining will be up for this weekend.We do not have 10 TH of chips out of nowhere, we said that we will setup block labeling as soon as we reach that speed, which could be on the first days of october, so in "about" two weeks, or mid october.The next update will include a mining address as well.Next proof to be posted will be mining address, clearly showing the rate of blocks creation.Mining address will be posted publicly before Wednesday. This will allow transparent monitoring of the hashing rate and block generation.First dividend payment is due on tuesday 17 SeptemberWe haven't failed to deliver, the fact that we aren't posting more pictures isn't proof that we are not mining. We are indeed mining but there are issues to solved before we get to labeling blocks, as we said.Dividend day was previously miscalculated, i apologize, expect the first payment on Tue 24/9 and mining address proof in less than 24 hours as promised.Of course anyone can create and sign an address, I do not expect this to do anything until the point that mining starts. - burnside put up this announcement:
They switched from slush's pool to BTC Guild.
The hashing rate of BTC Guild is 391T.
25 * 2 / 391 = 0.127 BTC, so it took more than 5 blocks for 2Th/s to get 0.7 BTC.
By checking the transaction history, however, 0.7BTC could be the income of 2 blocks. So the hashing speed is 391 * 0.7 / 25 = 11 Th/s.
Great number.
But we'd better to check more paying before we can know their actual hashing rate.
25 * 2 / 391 = 0.127 BTC, so it took more than 5 blocks for 2Th/s to get 0.7 BTC.
By checking the transaction history, however, 0.7BTC could be the income of 2 blocks. So the hashing speed is 391 * 0.7 / 25 = 11 Th/s.
Great number.
But we'd better to check more paying before we can know their actual hashing rate.
Relevant posts:
Latest posts of TheSwede75: https://bitcointalksearch.org/user/theswede75-90389
Latest posts of user labcoin: https://bitcointalksearch.org/user/labcoin-120219
UPDATE:
Just got off talking to Sam. The miners are running and the team is working on the pool mining integration, this should all be done in 'a few hours' (less then 12, more likely less then that but I have advised against setting a specific hour/time as this just leads to frustration if missed) and users will be able to view the mined coins through pool and this address:
https://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trm
I have asked Sam to sign the address so that it can be proven without a doubt that Labcoin is indeed the entity mining.
According to Sam the initial hash rate will be 'a few' TH and will be scaled up in the coming days as more miners come online.
TLDR; Pool mining is being integrated and will be running in the next few hours (less than 12). Address provided above will be used for mining and will be signed as proof. Initial mining will be 'a few' TH and scaled up in the coming days.
Just got off talking to Sam. The miners are running and the team is working on the pool mining integration, this should all be done in 'a few hours' (less then 12, more likely less then that but I have advised against setting a specific hour/time as this just leads to frustration if missed) and users will be able to view the mined coins through pool and this address:
https://blockchain.info/address/17psAW21J4twanAFWmbcd5WdX2pKeX3trm
I have asked Sam to sign the address so that it can be proven without a doubt that Labcoin is indeed the entity mining.
According to Sam the initial hash rate will be 'a few' TH and will be scaled up in the coming days as more miners come online.
TLDR; Pool mining is being integrated and will be running in the next few hours (less than 12). Address provided above will be used for mining and will be signed as proof. Initial mining will be 'a few' TH and scaled up in the coming days.
Update:
Just a small update with the address signed so that there is less confusion and fud when pool mining is running.
Message: Labcoin mining address
Signature: HJRjzVPG3CC5OjInesByNcdfkI2kz6hONR3LjVUABUVDq03Z3ARcmEfdXWeJwzX0zUqoWkyx1rNjmps CuP8cWQA
Address: 17psAW21J4twanAFWmbcd5WdX2pKeX3trm
Just a small update with the address signed so that there is less confusion and fud when pool mining is running.
Message: Labcoin mining address
Signature: HJRjzVPG3CC5OjInesByNcdfkI2kz6hONR3LjVUABUVDq03Z3ARcmEfdXWeJwzX0zUqoWkyx1rNjmps CuP8cWQA
Address: 17psAW21J4twanAFWmbcd5WdX2pKeX3trm
Latest posts of TheSwede75: https://bitcointalksearch.org/user/theswede75-90389
Latest posts of user labcoin: https://bitcointalksearch.org/user/labcoin-120219
If they post another update today with pictures, share price is going to be insane.
Edit: Phase 2 of rally commencing.
Edit: Phase 2 of rally commencing.
so you guys seriously think that the Share Price drops to about 0.002 ?
please answer
please answer
no, that thinking is history.
History can repeat itself
Weird how all the action always goes on the main thread,
and not the spec thread : https://bitcointalk.org/index.php?topic=263445.new#new
and not the spec thread : https://bitcointalk.org/index.php?topic=263445.new#new
eve scared me
i sold all
i sold all
Pretty quiet in the speculation thread
So many stories over in the main
So many stories over in the main
Haha yes! My finger was hovering close to the "dump everything" button more than once. Glad I didn't fall for it.
Pretty quiet in the speculation thread
So many stories over in the main
So many stories over in the main
so you guys seriously think that the Share Price drops to about 0.002 ?
please answer
please answer
no, that thinking is history.
Jump to: