Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
Possible outcomes in this Wednesday: (from the best scenario to the worst)
1, Labcoin provides a mining address and a signed message. There're 1 - 2 blocks mined there.
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1, Labcoin provides a mining address and a signed message. There're 1 - 2 blocks mined there.
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Considering that Labcoin have at least ~0.5TH of mining equipment from other vendors, including a few Avalons - quoted below, a signed mining address does not prove that their PCB and chips are working and hashing.. A mining address, technical specification of chip, proper photos/videos of setup will help on the way though.
Quote
We own and run several machines. checkout the team labcoin at btcguild
aren't these your avalons? http://imgur.com/Eg7IlOw
and what is role of Fabrizio in this venture?
Yep. they are.
Fabrizio Tatti is the majority shareholder and CEO of iTec-Pro Limited actually.
Cheers
Yes, but with a mining address, we can estimate the hashing rate by monitoring it.
Of course, even the 2Th is confirmed (may takes several days or even weeks due to solo mining), this still cannot rule out the possibility that the hashing rate is bought from others.
That's the reason labcoin insisted the final decision needs to be done by the end of October, the date all their 1-gen chips are deployed and whether the 2-gen chips work or not is confirmed.
Seems like something that SHOULD take 5mins to generate; proper videos / photos, technical specs (which there is ZERO reason for them to not release) would be a hell of a lot easier then have people wait until end of October..
I guess all I'm saying is that a mining address by itself doesn't prove anything.