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

TheSwede75：
can you explain why a votor of BTCT commented that "I wouldn't trust the operator at all, well known troll"?

UPDATE:

I was pretty 'Trolly' and outspoken in my early days especially in the BTC-E.com's trollbox. Since then I "got over" Alt Currencies and chilled out a lot. If anyone wants to judge me based on Trollbox chatter, I guess that is up to them. I would probably consider my flawless trading history, group-buy organization etc more important factors when assessing my 'honesty' though. Besides that, I am not one of the Founders or Developers inside Labcoin but just someone that helped out in the IPO and serves as an additional communication resource, so I am not sure why me being a 'troll' would have to do with the Security.

TLDR: I may have (have had) a big mouth and short temper from time to time, but I have never scammed anyone.

OUTSTANDING SHARES:

Also I was asked to clarify the 'outstanding shares' on BTCT.CO. For some time the outstanding shares on BTCT.CO was incorrect (not sure why, probably due to the script we ran to place the shares). This number is now 10 Million (10.000.000) which represents ALL the shares of Labcoin. This number will NOT change and Labcoin will NOT sell more shares. I hope that clears up any confusion.

Q/A UPDATE:

The coming days Developer from Labcoin as well as Sam himself will answer technical/development questions as well as describe the near future. Expect several posts.

This is not an explanation. Like I said, BTCT only shows shares as outstanding if they have been sold or rendered to another account by doing an internal share transfer. The total Outstanding should be 7m, not 10m

I am sorry, now I understand what you are asking in "This is not an explanation. Like I said, BTCT only shows shares as outstanding if they have been sold or rendered to another account by doing an internal share transfer. The total Outstanding should be 7m, not 10m"

The reason for all 10 million being 'listed' is the fact that the Founder shares (3 million) has now been transferred out of the original IPO account and into the individual Labcoin team (developers, founder etc). This transfer is the reason all 10 million is now seen as the 'outstanding shares' amount.

I hope that answers your question. I also personally think that this is more 'honest' since the 'Market Cap' is now based on all available shares and not only the 7 million placed in the IPO.

In other words, you can sell whenever you want and no one will know.

Bingo! The shares should not have been rendered. What incentive does the company have to work at all if they can just sell all their own shares?

I would assume this is true for all listed companies on BTCT.CO. I do think that since the Founders already have over $150.000 invested in development, pre-production etc. Selling a ton of shares in a project they have been involved in for a year and giving up dividends and possible higher valuation for a quick but seems very counter intuitive.