[15:05] <+labcoin__> alright.
[15:06] <+labcoin__> let's go ahead.
[15:06] <+labcoin__> please arrange  so that  just one of you asks the questions gathered from members
[15:07] <@radiumsoup> there is a list of questions here https://bitcointalk.org/index.php?topic=304365.0
[15:08] <+labcoin__> as said, the technical problems are related to heat dissipation, which isn't working as expected.
[15:08] <+labcoin__> the IC are extremely unstable because of the high temperatures they reach quickly.
[15:08] <@radiumsoup> is that due to the package choice? are all chips going to use this package or just the test chips?
[15:09] <+labcoin__> A lot of the chip suffer from this issue, apart a few of them, which we have deployed.
[15:09] <+labcoin__> it's probably depending on the poor package choice yes
[15:10] <@radiumsoup> how many chips are on hand in this package?
[15:10] <+labcoin__> so, to deploy higher quantities we need to solve the issue first
[15:11] <+labcoin__> we have 20.000 usable chips right now
[15:11] <@radiumsoup> who, specifically, is working on solving the heat problem?
[15:12] <+labcoin__> we have outsourced the problem to a specialized laboratory, we won't reveal names to avoid them being thrown in the mud.
[15:13] <@radiumsoup> I’m getting a lot of questions asking for more pictures of the current setup. Specifically, pictures of the working boards, and a close up  picture of a board, front and back
[15:13] <+labcoin__> after we receive the hardware we will reveal this
[15:13] <@radiumsoup> after you receive what hardware, exactly? have you sent all the 20,000 chips to the outsourced company?
[15:15] <+labcoin__> They need to develop a solution, we will receive a demo to test, before giving the green light
[15:16] <@radiumsoup> what solution is that? is that a new set of boards? are the boards you provided in previous photos the same boards being used to hash now?
[15:16] <+labcoin__> Hardware on development is cooling solution and maybe new board design
[15:16] <+labcoin__> design/layout
[15:16] <+labcoin__> yes, with some modifications. We will show the new hardware
[15:17] <@radiumsoup> A lot of people are very very angry at the lack of communication. People are demanding proof of your identity. Are you willing to provide proof that you are an actual person named Sam Noi?
[15:18] <+labcoin__> I will consider this option as well.
[15:18] <@radiumsoup> I’m being asked who is on the team now - names and duties, please
[15:19] <+labcoin__> I'm very sorry for the lack of communication, we have tried to provide some insights, but patience is totally lacking.
[15:19] <@radiumsoup> How much is it costing for this outsourcing project? What specific date have you been given when you will receive an solution to the heat problem?
[15:19] <+labcoin__> We understand that difficulty is rising, and a lot of money has been invested, we are working very hard toward reaching our goals
[15:19] <@radiumsoup> that’s too vague.
[15:20] <+labcoin__> cost is still unknown, sorry
[15:20] <@radiumsoup> how much have you paid so far
[15:21] <+labcoin__> the team is composed of people working on third party labs right now.
[15:21] <@radiumsoup> So you are the only person running labcoin itself, and all the engineering and production is outsourced?
[15:21] <+labcoin__> I cannot reveal names because i am not authorized to. People is calling our company publicly a scam.
[15:22] <+labcoin__> right now, yes.
[15:22] <@radiumsoup> Did you use TSMC CyberShuttle service for the production of this batch of chips?
[15:23] <+labcoin__> I don't know the exact name of the program as i didn't take care of the procedures with TSMC
[15:23] <+labcoin__> but i guess that was the name.
[15:23] <@radiumsoup> There are deposits going to the publicly signed mining address now. What hardware are you using to generate those hashes?
[15:25] <+labcoin__> we're using the same ICs from the batch, some of them are not actually "defective"
[15:25] <+labcoin__> this isn't really a defect but a  result of the packaging choice.
[15:25] <@radiumsoup> how many are running now - and a lot of people are asking for photos of those miners that are currently in use
[15:26] <+labcoin__> i am not in the same location as the hardware anymore, the team as said is outsourced and working remotely at this point.
[15:26] <+labcoin__> I'll see what i can do to gather more pictures.
[15:26] <@radiumsoup> Who are Alessia Tatti and Armando Tatti, and how are they connected to the project?
[15:27] <@radiumsoup> sorry: Alessia Tatti, Alberto Armandi, Fabrizio Tatti
[15:28] <+labcoin__> there are about 2000 chips running.  Fabrizio Tatti was the owner of the project, and alessia his sister, previously  involved. We deny all connections of the project with other people.
[15:28] <@radiumsoup> Who has control of the bitcoins that were raised in the IPO
[15:28] <+labcoin__> the owner of the company specifically, i purchased it at this point.
[15:29] <+labcoin__> i do.
[15:30] <@radiumsoup> How many bitcoins are left, and please tell us what address they are at
[15:31] <+labcoin__> i am not on that workstation right now. I'll provide this info on the forum, is that alright?
[15:31] <@radiumsoup> yes, thank you
[15:31] <+labcoin__> there are more than 50% remaining.
[15:32] <@radiumsoup> I am still getting a LOT of people asking for proof of your identity. They want proof that Sam Noi is the real person in control of the “labcoin” forum account
[15:33] <@radiumsoup> do you have a public Facebook or Linkedin profile?
[15:37] <@radiumsoup> waiting for reconnect
[15:39] <@radiumsoup> took him a few minutes to come back last time
[15:42] <@radiumsoup> can someone watch the forum and see if he posts again please, let me know in a PM if he does
[15:44] <@Rulother> Checking
[15:50] <@radiumsoup> I think that last one was him but he didn’t respond to a pm
[15:50] <@radiumsoup> looks like he is trying to reconnect, though
[15:55] <@radiumsoup> gdi
[15:57] <@radiumsoup> Sam - please send me a PM in the forum, there are people pretending to be you and I need to reverify you since your IP address changed
[16:02] <@radiumsoup> ok go ahead
[16:02] <@radiumsoup> I am still getting a LOT of people asking for proof of your identity. They want proof that Sam Noi is the real person in control of the “labcoin” forum account
[16:02] <+labcoin__> ok, sorry. Please recap the last questions.
[16:03] <+labcoin__> I said that i will negotiate this kind of verification with Ethan Burnside.
[16:03] <@radiumsoup> do you have a public Facebook or Linkedin profile?
[16:03] <@radiumsoup> ok, we missed that reply, thank you
[16:03] <@radiumsoup> before the exchange BTCT-CO closes, would you be willing to take a shareholder vote to close the project and refund the remaining bitcoins to shareholders?
[16:04] <+labcoin__> No sorry, i don't have a public linkedIn, or Facebook. At this point the project won't fail, we will be receiving the complete hardware before 15 October.
[16:05] <+labcoin__> In case of total failure, we will consider refunding the remaining amount.
[16:05] <+labcoin__> But it's very unlikely we will have to do this.
[16:05] <@radiumsoup> by “complete hardware”, does that mean working boards suitable for mass production, or just a new plan and a new prototype?
[16:06] <+labcoin__> If everything goes smoothly the hardware design will be final.
[16:06] <+labcoin__> means, suitable for mass production.
[16:07] <@radiumsoup> there are a lot of people offering their help and support. Would you be willing to have some community members who are technically minded form an advisory board to help you with logistics?
[16:08] <+labcoin__> We will consider this option in case there are issues with the current solution, yes.
[16:08] <+labcoin__> Thank you for offering this kind of support.
[16:08] <@radiumsoup> Where are you in the process of being listed on BitFunder? Will you be able to switch beforee BTCT close?
[16:09] <+labcoin__> We need to go through a Skype call with the owner.
[16:09] <@radiumsoup> When is that skye call scheduled to happen?
[16:09] <+labcoin__> Yes, we will be able i think.
[16:09] <+labcoin__> I'll contact them in the following days.
[16:09] <@radiumsoup> Tomorrow?
[16:10] <+labcoin__> I'll do my best to do it tomorrow.
[16:10] <@radiumsoup> Another photo question: Do you have physical access to the outsourced facility? Can you go visit the boards that are currently hashing and give us a photo of the entire layout?
[16:11] <+labcoin__> I do but i am traveling right now.I'll do my best to arrange some pictures of the facility.
[16:12] <@radiumsoup> How do you know the outsourcing company are not configuring the miners to point to a different pool account?
[16:13] <+labcoin__> i do monitor the hashrate
[16:14] <@radiumsoup> can you move to a different pool that gives more transparency? BTCGuild is not working very well from an outside point of view, we get .05 deposits but we can’t see hashrate easily
[16:14] <@radiumsoup> are all 20,000 chips in the bad packages now, or are some still on wafers or bare dies?
[16:15] <+labcoin__> it would take a lot of time. i'll see if it's doable.
[16:15] <+labcoin__> all of them are packaged.
[16:16] <@radiumsoup> what is the current hashrate that you saw the last time you looked?
[16:16] <+labcoin__> 0.680 th
[16:16] <@radiumsoup> do you have another job, or is this project your main priority right now?
[16:17] <+labcoin__> I do have another job as well.
[16:17] <@radiumsoup> when you are traveling, is it because of this other job? where are you now?
[16:17] <@radiumsoup> (what country)
[16:18] <+labcoin__> Yes it is, i am located in switzerland right now
16:19] <@radiumsoup> Everyone is recommending a move to the pool at eligius.st - this would give maximum transparency.
[16:19] <+labcoin__> I'll try to execute that tomorrow.
[16:19] <@radiumsoup> how much did you pay for labcoin when you bought it?
[16:21] <+labcoin__> sorry i can't reveal this before an agreement with the other party.
[16:21] <@radiumsoup> How much time do you spend on labcoin every day? If you cannot spend at least a few hours per day, do you have any plan to hire someone to help manage the project?
[16:23] <+labcoin__> i do spend enough time on it on a daily basis. If i ever run out of time i'll surely consider hiring another manager, yes.
[16:24] <@radiumsoup> How many of the original 3,000,000 shares are still in the labcoin1 account at BTCT, and have you sold any? Please make the portfolio public so we can see the current balance.
[16:26] <@radiumsoup> How many of the original 3,000,000 shares are still in the labcoin1 account at BTCT, and have you sold any? Please make the portfolio public so we can see the current balance.
[16:26] <+labcoin__> ok. disconnected again. poor connection
[16:27] <+labcoin__> 2.000.000 shares on one account, and others scattered on more accounts. I'm considering repurchasing more.
[16:27] <@radiumsoup> there are a lot of people pushing very hard for an advisory board. Will you make a board up of people nominated by the shareholders so you can have regular scheduled meetings and information can be more easily communicated?
[16:28] <+labcoin__> yes, please start the process of nominating an advisory board to submit
[16:28] <@radiumsoup> Great, thanks. What is the status of the second generation chips that TheSeven is/was involved with?
[16:29] <+labcoin__> The work on second gen has been paused but it will be resumed soon.
[16:29] <@radiumsoup> Have you approached TheSeven for help managing the first generation project?
[16:30] <+labcoin__> just initially but he wasn't available till earlier in september
[16:30] <@radiumsoup> sorry to repeat, but someone is asking for clarification on the labcoin1 btct account - are you going to make that portfolio public to prove the shares have not been sold?
[16:31] <+labcoin__> the two million shares?yes
[16:31] <+labcoin__> how can i do this?
[16:31] <@radiumsoup> contact burnside, he’ll give you instructions
[16:31] <+labcoin__> Fine.
[16:32] <@radiumsoup> also, if you could please ensure at least 75% of the 3,000,000 are in there to honor the contract, that would be a good step as well
[16:32] <+labcoin__> i am sure that we own 2.250.000 shares
[16:32] <+labcoin__> i'll gather them as well
[16:32] <@radiumsoup> If all the chips are packaged using the overheating package, will the next batch be a different package?
[16:33] <+labcoin__> of course the mistake won't be  repeated.
[16:34] <@radiumsoup> if the overheating problem is solved by the 15th, what will the total expected hashrate be?
[16:34] <+labcoin__> on the 15th itself  we will start deploying the hardware, in a few days we will have 20 TH online
[16:35] <@radiumsoup> Would you be willing to send a sample board to someone trusted such as TheSeven? Any board that is currently working
[16:36] <+labcoin__> Yes, i'll arrange this as well. I'll communicate when i'm returning from my trip.
[16:37] <+labcoin__> i am running out of time. Are there any more questions?
[16:37] <@radiumsoup> yes, I have a lot of windows to go through, sorry
[16:38] <+labcoin__> Next dividend is due on Oct. 2
[16:38] <@radiumsoup> when will you be back in Shenzen/Hong Kong?
[16:38] <+labcoin__> Alright,i'll hang on a bit more.
[16:38] <+labcoin__> In about 10 days.
[16:38] <@San1ty> what's the news guys?
[16:38] <@radiumsoup> in the middle of QA
[16:38] <@San1ty> can someone make a quick summary before I get some sleep
[16:39] <@radiumsoup> one minute, San1ty
[16:39] <@kleeck> TL;DR To the moon.
[16:39] <@radiumsoup> Sam - What is the plan for the next 30 days, once the chips arrive from the outsourced facility?
[16:40] <@radiumsoup> (I think they meant “once the boards arrive”)
[16:41] <+labcoin__> A team in China will start the deployment work. I'm in the process of selecting a new engineer these days, i have to go through some meetings. Once the deployment task is completed i'll start again working on the second gen
[16:42] <@radiumsoup> Where are you personally located when not traveling? Shenzen, Hong Kong, Taiwan?
[16:43] <+labcoin__> Shenzhen
[16:43] <@radiumsoup> Why did the previous team leave the project?
[16:45] <+labcoin__> Howard Wang did have a previous plan to leave for USA, Mr. Tatti is working at another company as well since Junge.
[16:45] <+labcoin__> June*
[16:45] <@radiumsoup> Are you Swiss or Chinese?
[16:46] <+labcoin__> i am Italian
[16:46] <@radiumsoup> What is your actual name?
[16:46] <+labcoin__> Samuele Noi
[16:47] <@radiumsoup> ok, last call for questions, a lot of the rest coming in are repeats
[16:48] <@radiumsoup> Have you proven your identity with burnside or anyone else who can vouch for you?
[16:48] <+labcoin__> Just Mr. Tatti did.
[16:49] <@radiumsoup> What temperature was the package reaching, and how much power is it pulling?
[16:49] <+labcoin__> it reaches temps up to 110degrees
[16:50] <+labcoin__> at that point the system gets switched off
[16:51] <@radiumsoup> OK, I think that’s about it. This has been very informative. Can we do another one of these next week, same time?
[16:51] <+labcoin__> I'll provide exact power figures later. Yes, agreed. Thank you
[16:52] <@radiumsoup> Thank you very much
[16:53] <@radiumsoup> ok, let the chaos begin
[16:53] <+labcoin__> Alright, gotta go. Talk next time. Will arrange another Q/A on the thread.