The shares will be released AT IPO PRICE 0.001 BTC in 12 HOURS.
Does that mean that higher than .001 BTC bids will be filled first? Currently, no one with a bid at .001 will get any shares.
I am currently trying to reach Burnside. The best solution here is likely to halt the asset (issuer lock), cancel ALL current orders and then reopen it at 8 PM. I will need burnside's advice on this though.
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.
-1
I vote to hit the book now :p
+1
Wiping the book and opening it @ 8PM is not an option as BTCT won't be able to handle the load.
Wiping the book and opening it 1 hour before 8 PM is not an option as the load will be nearly as big as the one mentioned above.
Not wiping the book and letting this bloodbath continue with prices breaching the roof is not an option as this would be kind of a contract breach, as nobody will get their shares @ or even around the designated IPO price.
IMHO, after several hours, but way before the designated IPO time, the asset should be locked @ a random, unannounced time, and shares should be sold according to the bids at the time of the asset lock, this way BTCT would not suffer an unbearable load, and the "randomity" of the lock will provide fairness, as nobody will know the exact time of the lock, therefore no rush, no Apache crash, no server lag, no randomly filled orders.