Tag Archives: Labcoin

Labcoin Q&A session on bitcointalk.org

From Theswede75

UPDATE:

After just talking to Sam Noi I can now reveal that the Project founder Fabrizio Tatti and one of the chip developers will be available on the forum shortly (later tonight or possibly in the morning) to answer questions reg. Design, status, Gen 1 chips etc.

This should give investors plenty of opportunity to ask questions and also stay up to date with the development.

Source: bitcointalk.org

Labcoin announces founder share lock

Regarding shares owned by the Labcoin founders and developers.

News

Regarding shares owned by the Labcoin founders and developers.

Due to inquiries LABCOIN has received from investors, the founders and developers involved in the LABCOIN project has decided to voluntarily lock in 75% of all shares owned by the LABCOIN core team for 12-months.

This means that no founder or developer owning shares in LABCOIN will sell an excess of 25% of their shares for at least 365 days from today’s date.

This is being publicly announced to set to rest any concern that the LABCOIN team has any interest in liquidating their holdings in the project.

Q: Why not lock in 100%?

A: Simply because we feel that it is only fair to allow the members of the LABCOIN team that wishes to sell smaller portions of their ownership should they need some Bitcoin for any unforeseen expense during the first year of operations.

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Labcoin Q&A

labcoin:

We did not sell any part of our stake in the company and we are open to audits on the account where founder shares are stored.
It’s very likely that share price will rise in the near future, as we bring online our mining farm.
It’s kind of hard to make forecasts about the first year profit as there are still too many unknow variables, for now we’re focusing on bringing gradually our first 30-50 Terahash/s online, we plan to complete this goal within October 2013. Chip batches and finished mining Hardware sales will follow shortly.

Source: bitcointalk.org forum