What's the percentage of total coins currently held by the team? Can I see that anywhere?

Another beauty from the FireLotto White Paper:

Yield per token is 3.20 U.S. cents from each 16 million tickets sold, which is more than 20% per annum of the amount of
funds invested in Fire Lotto tokens.

Sounds great, but is it really that good? First of all, let's assume they will actually sell 16 million tickets per year (~nearly 44000 per day, currently after being active for more than 2 months: less than 400).

I paid USD 0.38 for my FLOTS, assuming a return of 3.2 US cents per year that would be 0.032/0.38*100 = 8.42%

Looking at the increasing cost of the tokens, that yield is only going to get lower:

2. How much will one token cost?
15 March 12.00 UTC - 21 March 12.00 UTC - 0.50 $ - Annual yield 6.40%
21 March 12.00 UTC - 27 March 12.00 UTC - 0.60 $ - Annual yield 5.33%
27 March 12.00 UTC - 2 April 12.00 UTC - 0.70 $ - Annual yield 4.57%
02 April 12.00 UTC - 08 April 12.00 UTC- 0.80 $ - Annual yield 4.00%
08 April 12.00 UTC - 15 April 12.00 UTC - 0.90 $ - Annual yield 3.56%

The only way you could achieve 20% with 16m tickets sold is if you paid USD 0.16 for your tokens, but who paid that?

This is even an updated version, the old version of the white paper stated: "Yield per token is 1.60 U.S. cents from each 16 million tickets sold, ..." So the white paper was updated but they don't use any version management, they still pretend it was written in January.

As for the advertising campaign they keep mentioning, nobody has seen any advertising, the only thing they do is go to trade fairs (which is great) and they have the referral campaign (15% of ticket sales). There doesn't appear to be another advertising campaign pulling in 40+ thousand gamblers per day. All they say is soon, it will happen soon, after ico, after a few months, etc.

I asked them about these calculations, that 20% was a bogus percentage and they couldn't really deny that my figures are correct. Yet, no changes were made. They might as well pretend that they're going to sell 100 million tickets per year, works wonders for the return on investment.

I really thought I signed up for something new, something that would change things, finally I would be on the side of the lottery that always wins, unfortunately I'm now financially linked up with these rude Russian clowns.

Focus more on the positives, answer any and all questions and take away people's doubt. I think you're underestimating how you are feeding the negative thoughts surrounding this project with the strange personal attacks (black PR, paid shills etc). Just address the outstanding issues, clarify the 3 addresses, clarify the adviser issue, back up more statements like "4 months until gaming licence".

Another dodgy example from the WP:
12. How much will your tokens cost in the future?
Token prices are influenced by many different factors, including political and economic ones. We can compare our product with TrueFlip, an online lottery that is already operating. If you look at the diagram below, you will see that the average price of the TFL coin (True Flip lottery) is about USD 1.00 (USD 1.05 as of October 20, 2017), (USD 3.29 as of January 07, 2018).
[TrueFlip charts]
We believe that the price of the Lotto token will exceed USD 1.00.

ICO's rarely make price predictions for after their ICO, prices are made by markets, not by the ICO team. Your claim of a USD 1 valuation is based on TrueFlip being worth USD 1. But you're forgetting one very important issue here, TrueFlip's total supply of tokens is under 9 million, circulating supply under 7 million. So by your reasoning, since TrueFlip is worth ~USD 9 millioni in total, so should FireLotto, since it's such a similar company. So a total valuation of USD 9 million, divided by the total token supply of FireLotto of 100 million tokens, meaning an estimated price per token of USD 0.09.

That piece of information should never have been allowed into the white paper in the first place. It's incorrect, misleading and based on thin air.

PS This is one of the things I wanted answers to in the Telegram channel, after I got banned there (after getting no answers) I opened an account here. And I don't speak Russian, btw.

I think Gorbal also posts in Russian on the Russian thread, flaggin is a bit a-technical in that he doesn't understand html code and we all post throughout the day, possibly indicating we're in very different time zones. The language we use is very different. It's a bit like saying all people supporting this project are really only one person.

So once again: Show us the evidence.

PS I am an actual investor in FireLotto, which is why I care. Since flaggin already proved that showing you a screen print of an investor page doesn't convince you lot ("probably downloaded from the internet"), you're just going to have to take my word for it. You can check all my posts, I - as opposed to quite a few "admins" here - haven't told a single lie.

I considered that a lot, and I really hope it to be true but I now think it's wishful thinking.

The effort done in promotion consists of going to gambling trade fairs, which is really not that expensive to organize and they've collected more than 3 million usd already, their goal is to keep the money coming in during the ICO. It seems typical for scam ICO's to have a really low soft cap (hurray, the project goes ahead!) and a really high hard cap, so you don't have to stop the project early on in case it catches on. The approach was also unusual that they had a private sale until 15 January, then one month public pre-sale, then a break of a month (why?), then the "real" ico from 15 March for a month. They seem to have stretched it out as much as they possibly could.

Nearly the whole team is the same as the one behind CashPokerPro, which was very similar in that it promised a very high price after ICO (the markets decide that price, not the ICO team) which was based on nothing. The price of CashPokerPro tanked after ICO and very little communication was done to investors, essentially the project was bled to death. When I did get a reaction from CashPokerPro on this, he said the project is still under development and that a product will be presented "soon". It's an easy defense that you can keep up forever.

There's just too many unanswered questions for it to be a legit ICO.

Just suppose they're genuine, why would you advertise it in an irresponsible way with the occasional lie thrown in. If you're the CEO of an ICO like that, would you not sit down with your team and simply address everyone's concerns? Take away doubt and double the amount of investments? Instead, they call people with criticism liars/scammers and don't address any questions/concerns. In fact, even good scammers would probably just address most of the questions/concerns in order to get more investments.

So the FireLotto team isn't just a bunch of scammers, they're a bunch of bad scammers. Coming up with a working product was an absolute stroke of genius though. They're just letting themselves down with the "customer service" team.

I have always been polite, kind, clear and just want some answers. Being placed on their scam list for that is just ridiculous. This whole story about how they were being extorted by organized scammer is all just a big smoke screen to distract from what they are up to.

It's now abundantly clear that this team are the true con artists, the scammers, there's just no other scenario that would explain their actions.

It's all so dishonest, it makes me wish I had never heard of FireLotto.

For anyone reading this: Please do NOT invest in FireLotto, you're going to lose your investment just like the investors in CashPokerPro.

They do have a working product and they're going to a lot of trade shows, announced a few strategic partnerships and (appear to have) registered with SEC. Not sure how the SEC would feel about an ICO without KYC though...

They kicked a number of investors out of their Telegram chat for asking persistent (but necessary) questions, for example about some mistakes in the white paper (in roi calculations and unrealistic value claims for the token after ico etc.).

There appear to be at least two advisers who are listed on the FireLotto website that are not actually currently involved in the project (Ronnee Ades and Robert Matuk) but FireLotto keeps them on the site anyway, which is more than strange.

We're not getting answers from the admins (apart from "You're all scammers and out to get us!"), so we're being made to believe that it is indeed a scam.

Says the person with a minus 2 trust rating on Bitcointalk (Warning: Trade with extreme caution!). And by the way, just because you write in big letters doesn't make it true. I am not interested in illegal extortion practices, you don't know anything about me, really.

I am just an investor who isn't getting any answers from our beloved, friendly, kind and cooperative FireLotto team.

All I am asking is:
- Please provide evidence that Ronnee Ades is a current advisor to FireLotto.
(Either get her to confirm her current association with FL on Twitter, or simply apologize for the mistake and remove her from your list of advisors)
- Please provide evidence that Robert Matuk is a current advisor to FireLotto.
(Either get him to confirm his current association with FL, or simply apologize for the mistake and remove him from your list of advisors)
- Please provide evidence that an application has been made with the Isle of Man Gaming commission for a license

That's all, these are hardly the words of a scammer trying to extort money. Anyway, an attack on the person asking (hard) questions is the lowest form of defense. The easiest would just be to answer the questions and take the sting out of it.

But you are unable, unwilling or both.

Your investors care about evidence, you don't give any and disregard anybody else's. If I had heard people lost money in a project with this many lies and this much deception I would really think they have only themselves to blame. Having a working product and going to all these trade shows is great window dressing, but you cannot answer the most basic questions without telling us lies.

Shame on you.

Btw, here's the evidence about the nicknames accused of scamming:
https://bitcointalk.org/index.php?topic=2579275.msg31655617;topicseen#msg31655617

Dear Mr Tommy Cash,

Your accusation become more ridiculous by the day.

Anybody with the time and interest can just browse back in this thread to see:
- Where you (the admins) first called out Mr flaggin as being a scammer. or even part of the team of scammer who are conspiring against you (very James Bond).
- He then proved that he was an investor by showing a screenshot of his investor page, to which you agreed to remove him from the scammer list.
- Now very strangely, instead of removing his name from the list, you changed the name into flagpole, a name that has never taken part in this thread. Most curious.

Your credibility is really going down the drain, yet you don't seem to care. It makes us investors wonder why you don't care. Perhaps this whole ICO etc isn't really that important to you. You probably only have time invested in this thing and no money at stake. Instead you probably gain whether or not FireLotto becomes a success.

The reason we want to see evidence is that you have lied too many times.

A.M.

That's my fear and none of the admins do anything to allay those fears. Instead, they probably call you a scammer and say that FireLotto is fully decentralized (it's not) and transparent (it's not).

Hello kind sir,

Attacking the messenger is a very common tactic, but won't dissuade me from asking the same, simple questions.

- Please provide evidence that Ronnee Ades is a current advisor to FireLotto
- Please provide evidence that Robert Matuk is a current advisor to FireLotto
- Please provide evidence that an application has been made with the Isle of Man Gaming commission for a license

You could let Robert and Ronnee post on Twitter that they're advising FireLotto, would be good publicity too. You could post communication from the Isle of Man gaming commission confirming your application.

Thanks!

PS I am not a scammer (how would that work here?) and also not a "stooped donkey" (is that even an insult?).
PPS True will win these liars!

The incoming commission is split over all tokens that were sold or are held by the team. The tokens that are not sold will be frozen and not accumulate any commission for the first year (until the end of the year? 12 months into next year? From/until what date?). So currently about 20 million flot sold out of a possible 77 million, 3 million flots bounty and 20 million flots for the team. Just say they sell another 7 million flots over the next few weeks until ico end.

Then the total will look like this:
27 million flots sold, 3 million bounty: 30 million flots
Team holds: 20 million flots
Unsold: 50 million flots

Now let's calculate some commission for an average month. We'll take the most recent draw as being representative of an average day.
4x20: 97 tickets, 5x36: 96 tickets, 6x45: 165 tickets = 358 tickets sold
On average about 30 days in a month and an average ticket price of USD 2.
358 * 30 = 10,740 tickets sold in the month * USD2 = USD 21,480
Commission 10% of ticket sales.
USD 21,480 * 10% = USD 2,148

The unsold tokens do not share in the commission (yet) but will be unfrozen/sold after the year is over.
So commission per token = USD 2,148 / 50,000,000 tokens = USD 0.00004296
So per 1000 tokens = USD 0.04296

Cost to collect commission is playing in the lottery once at a cost of USD 2 (adding $0.20 to the commission), which seems a bit steep.

In this scenario the team holds 40% of the total tokens that share in the commission (20m out of 50m) and after the year is over they will hold (and be allowed to sell) 70% of all tokens (70m out of 100m), seriously diluting the share in commission.

In the worst case scenario they stop developing the website and leave it hanging like they did in CashPokerPro, just walking off with the investments to date. Best case scenario: the website gets successful and the investors do well, the team gets filthy rich.

This is kind of what happened to me in the Telegram chat, I asked questions, got no answers. Then some admin thanked me for my input at the same time as kicking me out of the chat, then they told the chat that they were "working" with me privately to improve the white paper. What really happened was that I was made an offer to correct some mistakes in the white paper (in flot) and when I replied to that I was just left hanging and nobody contacted me again.

So what would I have to gain by giving my email address to you in private? The questions I am asking are simple, general questions that more people would like answers to.

So once again, ever so politely:
- Please provide evidence that Ronnee Ades is a current advisor to FireLotto
- Please provide evidence that Robert Matuk is a current advisor to FireLotto
- Please provide evidence that an application has been made with the Isle of Man Gaming commission for a license

Dear flagpole/flaggin,

Apparently you don't accept direct messages from newbies... I meant to send you the following:

Talking to the FL crew seems almost pointless, sometimes I'm convinced that they're a scam and then they do something positive (like update the RNG) that gives me a little hope.

I still hope they're just a little incompetent, rather than malicious.

Fingers crossed, buddy!

flots
(c)
A.M.

No offense, but I don't find it easy to understand what you mean.

Anyway, now that you are online and clearly quite quick to reply (which is much appreciated!), could you please answer the following questions?

- Please provide evidence that Ronnee Ades is a current advisor to FireLotto
- Please provide evidence that Robert Matuk is a current advisor to FireLotto
- Please provide evidence that an application has been made with the Isle of Man Gaming commission for a license

And please don't change the subject again (it's getting a bit predictable).

Many polite thanks,

A concerned investor.

You are crazy, I got thrown out myself and personally know 3 other people who were thrown out of the Telegram chat and there's several more here.

Are you even an official admin?

Paid by whom??? I wish I got paid for this, that way I would at least recoup some of my USD 1000 investment in your soon to be worthless flots.

The best warranty??

This team has told so many lies that it's difficult to believe anything they say. On Telegram they regularly boot people out who ask difficult questions or aren't easily persuaded by the standard non-answers or dodgy Russian/English pasted texts. Here they have been accused of being scammers and in return they accused a whole bunch of other people (at least two of them investors) of trying to scam them... It's like being at primary school all over again.

There was talk of a Gaming registration in the pipeline on the Isle of Man (I personally think they only got their picture taken with the commissioner, which means nothing in itself) but on the Isle of Man you need KYC registration. Not sure how they're going to fix that retroactively.

Accusations instead of answers. VERY difficult to trust.

Even if what you're saying is true, you could still prove it easily. There's really only one reason not to just do that.

It's because you can't.

What kind of strange defense is it to accuse people with critical questions of being scammers.

Just answer the critical questions.

In case of Ronnee, just provide proof that's she's still your current advisor (same with Robert Matuk). Ronnee agrees that at some stage she advised you on something simple, but she's NO LONGER INVOLVED, stop pretending that she is or provide us with evidence that she is.

Should be very simple, right?

I'm an early investor and we deserve proper answers!

PS My name here might be: Flots©A.M.