Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
500 pages is not far away, keep up the good work guys!
Compared to 24 hours ago, the silence over the last hours suggests that our beloved bears are done.
The silence over the past few hours suggests that the ActM cheer-leading squad has taken a break from Labcoin, probably due to the fact that they have issues with their own share price - currently down to the IPO level on BTCT.
In the last 90 pages, 90% of the posts were posted by the heavily invested ActM FUDsters.
To be honest, I expected some teething issues and I'm not surprised, given that they did not test the PCB's before ordering them:
- PCB/Components for miners are expected to arrive shortly (a few days) after chips. To speed up miner production the PCB has not been tested prior to order but thorough simulations have been ran and Labcoin does not expect any issues with the PCB. SHOULD a problem arise Labcoin expects less than 1 week until new PCB can be produced, so even a worst case scenario has functioning PCB in-hand in about 2 weeks.
These types of issues occur and I'm confident that they will be ironed out shortly.
At the end of the day, for every share that was sold there was a buyer.
Edit: Typo
If Its PCB design issue, then labcoin was lying blatantly when he said they had begun hashing at 2TH and everything is fine. I don't think they will be so stupid that they risk their credibility to cover a error can be easily fixed in 1 week
More likely it was a issue out of their expectation. For example, The board worked well for a while and then malfunctioned due to heat or the software does not scale to large number of chips.
Anyway, could we try to guess, if labcoin never lies, what's the possible situation now? They are indeed hashing, but is not stable. They can only provide a mining address couple of days later but not now. They cannot provide photos without further confusing investors.
For me, the only plausible explanation is they don't have full control of their assembly and mining partners. All they have in hand are some sample chips and boards. Their parter in China refuse giving any photos taken in their side, and their reason or excuse may be they don't want disclose any evidence that they are involved in this project, since illegal IPO may lead to death penalty in China.