Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
You guys are nuts. Pushing the same stuff in 30 seconds intervals in a circle jerk of 3-5 accounts over and over again is far beyond of what I tolerate.
For visibility:
https://bitcointalk.org/index.php?topic=263445.msg3148724#msg3148724
https://bitcointalk.org/index.php?topic=263445.msg3148974#msg3148974
Something on the lense. It's pretty nice visible if you see both pictures at the same time.
For visibility:
UPDATE:
The Labcoin team is current tweaking boards and preparing for prodution
roll out of mining operation. Public mining address/Pool name will
be released as soon as the mining operation reaches a stable hash rate.
We are aware a lot of people are waiting for a address or pool name
where they can follow the hash rate and this is a priority, however
Labcoin also does not want the same kind of 'hysteria' that surrounds
ASICMINER every time pool rate drops or increases.
Once the miners have been deemed '100%' and can reliably mine 24/7 hash
rate will be made public and a new website will be launched where
shareholders can follow the growth in hash rate.
The 130 nm Chips run at approx 1.8 GH/s and the boards are still being
tweaked and tested so that once full production roll out starts
(approx 1-2 weeks) they will mine reliably 24/7
Labcoin has already ordered and will take delivery of OVER 100,000 chips
with accompanying boards and controllers for miner production and
rollout through the month of October.
Within 20 days (early Oct) approx 20TH will be online. Hash rate will
then progressively reach over 50TH of mining power during the month
of October as miners are brought online.
The mining operation will then be scaled up as miners are deployed and
will reach and pass 100TH+ in November to reach 500TH during the
month of December.
Other news:
Gen 2 65nm development is on track. Due to the fast increase in network
diff Labcoin will likely not sell or
ship volume 130nm orders but rather work towards quick tape out and
first run of 65 nm for bulk customer orders and consumer miners.
The 130 nm chips are still highly profitable for mining in datacenter in
China due to the short lead time and availabilty of resources etc.
Labcoin sees no reason to risk shipping chips at this point when the
team can just build miners on-site in China and reach very high
revenue mining with the chips instead of selling them to end users.
TLDR; Miners are being tweaked and tested still and deployment of
'significant' hash rate will be happening in the next two weeks, to reach
approx 20TH within 20 days. During October 50TH+ will be rolled out, to
reach 100TH+ in November and 500TH during the month of December.
65 nm is on track.
I will also post pictures of board and chips in about 2minutes.
Edit: here are chips and boards.http://imgur.com/4yuBc9A
To clarify. Hash goal for Dec is 500th+ and that is from chips that are already ordered using IPO funds. Short term goal is 20 TH within 20 days, 50TH in Oct and 100+ in November. We consider it likely that we surpass both Oct and November goals.
The Labcoin team is current tweaking boards and preparing for prodution
roll out of mining operation. Public mining address/Pool name will
be released as soon as the mining operation reaches a stable hash rate.
We are aware a lot of people are waiting for a address or pool name
where they can follow the hash rate and this is a priority, however
Labcoin also does not want the same kind of 'hysteria' that surrounds
ASICMINER every time pool rate drops or increases.
Once the miners have been deemed '100%' and can reliably mine 24/7 hash
rate will be made public and a new website will be launched where
shareholders can follow the growth in hash rate.
The 130 nm Chips run at approx 1.8 GH/s and the boards are still being
tweaked and tested so that once full production roll out starts
(approx 1-2 weeks) they will mine reliably 24/7
Labcoin has already ordered and will take delivery of OVER 100,000 chips
with accompanying boards and controllers for miner production and
rollout through the month of October.
Within 20 days (early Oct) approx 20TH will be online. Hash rate will
then progressively reach over 50TH of mining power during the month
of October as miners are brought online.
The mining operation will then be scaled up as miners are deployed and
will reach and pass 100TH+ in November to reach 500TH during the
month of December.
Other news:
Gen 2 65nm development is on track. Due to the fast increase in network
diff Labcoin will likely not sell or
ship volume 130nm orders but rather work towards quick tape out and
first run of 65 nm for bulk customer orders and consumer miners.
The 130 nm chips are still highly profitable for mining in datacenter in
China due to the short lead time and availabilty of resources etc.
Labcoin sees no reason to risk shipping chips at this point when the
team can just build miners on-site in China and reach very high
revenue mining with the chips instead of selling them to end users.
TLDR; Miners are being tweaked and tested still and deployment of
'significant' hash rate will be happening in the next two weeks, to reach
approx 20TH within 20 days. During October 50TH+ will be rolled out, to
reach 100TH+ in November and 500TH during the month of December.
65 nm is on track.
I will also post pictures of board and chips in about 2minutes.
Edit: here are chips and boards.http://imgur.com/4yuBc9A
To clarify. Hash goal for Dec is 500th+ and that is from chips that are already ordered using IPO funds. Short term goal is 20 TH within 20 days, 50TH in Oct and 100+ in November. We consider it likely that we surpass both Oct and November goals.
https://bitcointalk.org/index.php?topic=263445.msg3148724#msg3148724
https://bitcointalk.org/index.php?topic=263445.msg3148974#msg3148974
What is this off to the side?
Something on the lense. It's pretty nice visible if you see both pictures at the same time.
NOT AN UPDATE, JUST PERSONAL OPINION:
To be brutally honest. I realize that has been delays, and I also realize that communication has not always been what I wish we could provide. BUT, supporting day trading or providing updates at the whim of every single person that owns a share is just not priority.
If you do not believe Labcoin can deliver, or that somehow the team is running the world most advanced long-con ever you are well in your right to sell your shares.
The project is fully funded and I have personally 100% faith that Sam and the developers can and will deliver and though mining has been delayed, every single (even the most pessimistic) calculation I have done makes selling my shares anywhere near current price a bad idea.
I am not saying this to influence share price, but simply because it is getting a little tiring to see people yell and scream completely irrelevant information.
The chips that have been developed perform well within variance of what can be expected, boards have arrive and are arriving as we speak and mining will according to the team be up and running at production speeds within a week or two.
With 100,000+ chips already ordered I see no reason as to why the project would not yield a very healthy profit within the next month.
The next update will not be scheduled but rather I will see to it that we update the forum and btct.co when mining is running and the team can show more details on the operation.
I know its easy to have 20/20 hindsight but I feel that frequent updates do more harm then good. Feel free to voice your opinion of course (as I am sure you will).
I guess asking for some measure of reason is futile but the best I can do is to inform as best as I can. Hopefully I will be able to look back at this thread in a few months and smile.
Edit: I can personally guarantee that no one on the Labcoin team has the Photoshop skills to fake the chip/board images. Source; engineers are not artists.