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

Cool beans.

Are the chips your sending out samples or paid orders? How are financials and dividends for chip sales going to be handled?

There will of course be more "hard numbers" on this posted as chips are received, tested etc. the general policy is to pay out all profits as dividends to share holders, though Labcoin also plans to reinvest when profitable.

I have requested that customers that make "serious inquiries" be sent sample chips from first run and I am also trying to facilitate a miner and first run chips be send to me for review for the forum.

More information will be available (including pictures and stats) as soon as first run chips lands in the hands of the team.

What can shareholders do to promote Labcoin? Maybe advertising can be made to be cheaper? Why not just go to the forums where people are looking for ASIC miners and to reddit and promote the hell out of it?

As soon as the Labcoin team has performed testing and verified first-run and PCB functionality we will be dealing with all aspects of promotion and sales. This approach is chosen intentionally since the team feels that promoting a non proven product before they can show 100% functionality and specs is not something that Labcoin is interested in as the project is funded through the IPO well through first production run.

I know that there will be in depth discussions on how to best leverage fast time to market once miners are up and running, so I don't want to speculate too much into the exact model that will be chosen for chip/miner/contract sales.

The focus of the Labcoin team for the next few weeks will be 100% on becoming maybe The First ASIC project to actually deliver according to project timeline. Something I would consider quite a feat in itself.