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Labcoin has been outed as a scam run by notorious bitcoin scammer Alberto Armandi

All this info is public so does not count as doxxing or a witch hunt. This is merely connecting the dots of Labcoin. So one of the founders of Labcoin is 'Fabrizio Tatti' owner of iTec-Pro.
People discovered his sister Alessia under her skype account Delaria, chatting about beginning the Labcoin project: http://pastebin.com/1Rq8r4UW
Confirming Labcoin = Delaria : https://bitcointalk.org/index.php?action=profile;u=120219
Searches of Alessia(Delaria) point to a prior scam involvement with Alberto Armandi. They are husband and wife.
http://www.ripoffreport.com/ENSO-Co/internet/ENSO-Co-Alberto-Armandi-Alessia-Tatti-Promoting-ZenPad-like-the-IPAd-and-will-take-you-590629 owner of the vaporware scam company Enso:
http://www.engadget.com/2010/04/09/ensos-zenpad-is-vaporware-get-refunds-while-they-last/
Alberto is also a notorious scammer in the bitcoin community:
http://codinginmysleep.com/lessons-learned-from-the-bdt-fiasco/
Upon searching Fabrizio Tatti's friends list on Facebook, we see a direct match, he is affiliated with both scammers: http://i.imgur.com/pWl3uCS.png
Labcoin overview listing main players: http://i.imgur.com/nE7pVnT.png
Noi, Wang and Sparmann downplay their affiliation with Labcoin, or are unreachable.
Fabrizio plays dumb: http://i.imgur.com/TolLKn6.png
Alberto and Alessia I believe are playing under the Labcoin account. Compare Labcoin's responses to Alberto response's during his bdt scam: http://imgur.com/SJ47B8d
There is also evidence that TheSwede, the PR spokesman, took a 950 bitcoin payment to front the scam. http://imgur.com/rbnK68T
At the time Labcoin went live, TheSwede was on the forums trying to buy cars and Rolexes. http://imgur.com/bCNv8Bk
TLDR: The Labcoin scam has stolen 7000 bitcoins from the community + countless others who bought through day-trading.
EDIT: Labcoin responds: https://bitcointalk.org/index.php?topic=263445.15960 "We will explain everything tomorrow on IRC"
submitted by labcoinscam to Bitcoin [link] [comments]

Why are people investing in BTCGarden? Potential seems low compared to Labcoin

In order to achieve $100 mill or $160 mill ASICminer valuation, you'd have:
BTCGarden .016 to .1 - (6.25X growth) - $100 mill valuation..... .16 to 1.6 (10X growth) - $160 mill valuation
Labcoin .002 to .1 (50X growth) - $100 mill valuation....... .002 to .16 (80X growth) - $160 mill valuation
submitted by stokk9 to BitcoinStocks [link] [comments]

New to Bitcoin! Any suggestions?!

I recently got interested in Bitcoin after seeing a writeup about it online!
Are their any sites you guys recommend for collecting or buying/selling bitcoin?
My address is: 1Cpuj3MbTkW9G4HpNQG7TdC5j1jvaqiV1Y
Any bitcents or satoshi are welcome on that address! On the quest for 1 full BTC!
submitted by M_R_KLYE to Bitcoin [link] [comments]

My experience with Bitcoin: How I lost $5k and a potential profit for over $42k.

Happy Dec 1 everyone.
I can't sleep tonight and I have something to get off my chest, so story time.
I got into bitcoin soon after the crash in April. I was very interested in bitcoin and the way it worked and finally decided to buy when the price was around $105-$125 range. I spend $5k total and got around 42btc. That $5k was my life savings but I believed bitcoin was the future. At this time I was still working at my minimum wage job and barely getting by. I wanted a way out of my horrible existent. I wanted to go to school again but I was too worried about paying my bills or if I was going to make it the next month. I thought bitcoin was my way out. I was inspired by the stories of the people that "forgot" their wallet and all of a sudden they were tens or hundred-thousandaires.
While I was doing research I stumbled upon the bitcoin forums bitcointalk.org. I thought about mining bitcoin but didn't have the hardware. I don't have an awesome rig that can and I couldn't afford the asic units that butterfly labs were selling away. After a few weeks I learned that butterfly labs were not to be trusted and asicminer announced they we selling the usb miners. At this time the general consensus was that mining will never be profitable but I bought some anyway with the plans of reselling it. I got into bitcoin stocks because of asicminer. I have a few shares at the time and eventually got more and reinvested the dividends into the 1/100 asicminer. At this time things were looking up. I had a usb miner hashing away and asic miner was going up in price.
After a few weeks I sold my usb miners on ebay and got a good deal on it. I went over my breakeven point and had extra money. So I used the USD to buy more bitcoin with bitinstant. Bitinstant has a meltdown and didnt get my btc in time to reinvest in asicminer. The price shot up to 2.5btc a share and I missed out but it was ok. This is the high point of my life and experience with bitcoin. The dividends from asicminer was helping me pay some of my bills. I had a great investment going and I was richer than I had ever been. Bitcoin was my savior. Bitcoin was my answer. I got so excited about it I told my parents but they were disenchanted. I was met with "Why do you always daydream? Why can't you just go to school and get a real job? Imaginary money, fake money, scam." I'm not that smart so its hard for me to go to college but everyone keeps telling me you have to go to school to get a good job.
Well the next month came and ebay hit me with a 10% fee for successfully selling my stuff. I didn't know about the fee so I was caught off guard and now my bank account is in the negative. I didn't eat for the next few days while I was waiting for my bitcoins to turn into USD and transfer to my account.
I have been spending a lot of time lurking bitcointalk.org and there was news of these new start ups. BTCgarden and Labcoin. I was thinking I'll show my parents that I'm not daydreaming, I'm going to make it big and they won't be disappointed. So I sold all my asicminer shares and had around 90btc all together. I split between the two and when BTCgarden failed I dump the rest into Labcoin. Asicminer was falling in price at this time and I was glad I made it move. At the height of Labcoin I had over 150BTC. I thought I made it. I was happy. The next day burnside [stock exchange operator] announced he was going to close down his exchange and the price for everything plummeted. I didn't find out until a few days later when I was my stocks were worth 1/6 of what they worth. I was destroyed, I didn't know what to do and I was drinking the Labcoin cool-aid hard. I thought that its ok, the price will go back to IPO and I can sell. Months pass and I lost my job. I couldn't focus at work and I was really pissy. Now I'm sitting on useless Labcoin shares and joined with the group of people looking for a lawsuit, knowing full well I'll never get my money back. I lost my apartment last week and I had to go home with my parent (who are rubbing this shit in my face every chance they get. That is the reason why I moved out in the first place). I had the worst thanksgiving ever and I'm not looking forward for Christmas or the New Years. Its hard trying to find a job. I don't know what to do anymore. Its killing me that bitcoin is over $1k. If I had just kept it in my wallet and didn't touch it I would have over $40k now. Hindsight is a bitch.
Thanks for listening. I hope you guys have a better time with bitcoin.
TL;DR: This is not a bitcoin success story. Its a story about my highs and lows and ultimately my failure.
submitted by throwaway_lc to Bitcoin [link] [comments]

First time investor: AsicMiner vs LabCoin

Hi /Bitcoinstocks
I am considering investing in a bitcoin stock and weighing up my options between AsicMiner and LabCoin.I'm leaning towards LC since it seems to have a lot of activity recently and a bright future considering it's low price atm. Although AsicMiner seems more established the price is very high and seems to have peaked and been a little unstable. Interested to here your guys opinion on which one you'd pick and why
EDIT: so I invested 10BTC into labcoin and I already lost 4.5BTC when I checked my value today :(
Reading the latest updates...really suspicious, I don't think my money is safe with labcoin..I had to cash that out before i go broke. not sure where to invest it in now..none of the offerings look very promising..
submitted by soonamie to BitcoinStocks [link] [comments]

An overview and update of the Labcoin scam

Labcoin is a bitcoin mining security. Their security prospectus: https://btct.co/security/LABCOIN
They raised 7000 btc in the production of asic chips. With a promise of bringing out 500TH mining power by the end of the year. It was an extremely successful IPO, sold out before it even went live. People were saying it's the next ASICMiner.
Things did not go according to plan. For two months, Labcoin lied, delayed, made false promises, missed every deadline and were extremely vague and shady. It was only in the last week that users have pulled together to uncover who is actually behind Labcoin.
The main player of Labcoin, as listed on the prospectus, is Fabrizio Tatti, CEO.
A chat was uncovered with Alessia Tatti, his sister, during the beginning of the Labcoin project. http://pastebin.com/1Rq8r4UW
Excerpt: " i am an old time miner, my name is Alessia Tatti, cool"
Confirming Labcoin = Delaria : https://bitcointalk.org/index.php?action=profile;u=120219
Searches of Alessia point to a prior scam involvement with Alberto Armandi, owner of a vaporware company Enso.
Alberto Armandi, an ex-boyfriend of Alessia, is a notorious scammer in the bitcoin community: http://codinginmysleep.com/lessons-learned-from-the-bdt-fiasco/
When confronted, Alessia claims ignorant: "I don't know who has used my name, I certainly did not write those words, i will call the police."
Contradicting early involvement: http://i.imgur.com/AL2TMOW.png
Contradicting the Labcoin account's own statement that she was involved.
Agath (from the chat) believe it was Fabrizio or Alberto posing as her: "Agath said that Labcoin used the male form of some language constructs, even though the name is clearly female. We suspected that it was in fact fabrizio chatting on Alessia's account."
After months of lies, the share price tanked to 1/5th of the original IPO price (from a peak of 4X), the Labcoin account logged in and promised to clarify everything in an IRC chat. The transcript of the chat: http://pastebin.com/RSa1JPvM
Some gems: <@radiumsoup> What is your actual name? <+labcoin__> Samuele Noi
<@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? <+labcoin__> I will consider this option as well.
<@radiumsoup> Who are Alessia Tatti and Alberto Armandi, and Fabrizio Tatti, and how are they connected to the project? <+labcoin> Fabrizio Tatti was the owner of the project, and Alessia his sister, previously involved. We deny all connections of the project with other people. <+labcoin> I am the owner of the company specifically, i purchased it at this point.
<@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 <+labcoin__> I said that i will negotiate this kind of verification with Ethan Burnside (owner of btct.co)
Labcoin claims to be "Samuel Noi" . In a chat that has been uncovered, Fabrizio admits he is using the false identity 'Samuel Noi' to avoid 'direct exposure'.
http://translate.google.com.au/translate?hl=en&sl=it&tl=en&u=http%3A%2F%2Fpastebin.com%2FECm7V0LT
who are you? Fabrizio Tatti the owner of iTec Pro Limited, behind Labcoin this is the official presentation, here I am writing, but with the name of the nominee director (Samuel Noi) that I took the company in Hong Kong because I want to avoid direct exposure, various risks, etc.
Pretty incriminating.
When confronted, Fabrizio denies his involvement. http://i.imgur.com/TolLKn6.png "I release myself of any responsibility"
A small but loud group of Labcoin investors see no problem with what is happening: "All of the Accusations are helping no one" "You boys really need to calm down. Its been evidenced in a number of ways that this isn't a scam" "Just be patient and wait for actual evidence, one way or another."
Others are taking direct action, one member has reported their activity to the Hong Kong ICAC.
I personally believe, though circumstantial, there is heavy involvement of Alberto Armandi. During his previous bitcoin scam, his responses were fairly similar to the current responses given by Labcoin.
A comparison between the two: http://imgur.com/SJ47B8d
He likely used Fabrizio to fulfill Burnside's identification requirements, before taking over the company privately as 'Sam Noi'. Having a tech background and scam history, he has every reason to hide his identity.
However, it is also possible that Fabrizio is the sole operator of Labcoin, posing as 'Sam Noi' to avoid personal connection to the project.
Regardless of who is who, the Labcoin scam is one of the biggest in Bitcoin so far, and has cost users millions. The initial IPO of 7000 btc (USD$980,000) is just a fraction of the money lost here (the stock peaked at 4X IPO).
submitted by labcoinscam to Bitcoin [link] [comments]

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Bitcoin, Under the Influence - Bagsy EP 8 - YouTube

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