you know if we aim to get more gambling sites.. we might want to push the game site owners.. to head on over to crypsty and get their stock cheap.. after all... a gambling site cant run without having payout capital in reserves..

In a way the crazy amt of LOT's in circulation makes a lot of sense.. general rule of thumb is that a casino cant run unless it has cash reserves to meet each and every bet made. Pretty sure that the rule doesn't extend to online sites as there are less guidelines.. but if you follow the general rule of thumb and the premise that we are THE gaming coin.. We can take out about half the coins in circulation right there as being in the reserves of the casino.. oh sure they will sell excess back to the market but i wonder whats the amount they keep back in reserve to meet all bets the bigger the site the bigger the reserves.. should be an interesting scene really with coin prices going up to match the needs of the newest gaming/casino owner..

I am not hyping it up... and saying get it cheap.. but it does make sense in a way.. and siteowners like redcoin, rapid,lotto and altbet(maybe?) definitely have a distinct advantage getting it cheap..

Actually i am interested in the maths here.. can somone who runs a gamesite give me an approximate on how much they hold in reserve?

There's many that are imminent, for example http://www.game4coins.com/index.html

This ones already live http://lot.cointography.com/

Not that I can be in the slightest bothered to set up a bot to do this, but if this game is truly random, you are going to get f*cked over.

Happy to explain to one of the members that hasn't called me a troll why, via pm.

This site is gambling?

For some reason, the doomsday voices have gone silent.....

FFS, this is a long term project.

that 51% thing is really interesting, it seems like a bit of a unforeseen flaw

maybe not across the tummy - hints at a baby!

I want results with earthcoin instead of "soon" and vegetables and forests, and fruits etc etc. That stuff is nonsense and we all know it! If it is not, then where can I buy vegetables with my earthcoin?

Being a newbie and an investor in Lottocoin who has managed to turn 20 million into 40 thanks to trading on the FUD and the superfast mining that has outstripped demand I am fascinated by many of the discussions here and the lively 'tone' of the debate. I have also been introduced to many new phrases such as TROLLS, FUD, PRICE WALLS and more recently 'FORKS'...

Had to PM a couple of helpful members here to get clarity...

But it occurred to me that for newbies like myself there needs to be a Crypto A-Z - a quick comprehensive wiki style resource that helps newbies like myself understand the terms being used... the more clarity we have on these things the more confidence we have in a coin...

So a request... can the more learned members of this thread please PM me definitions to add to my Crypto A-Z that can be used for new members and coin investors to get up to speed and understand some of the issues being debated.

I desperately would like to add a clear definition of FORK and the facts surrounding the event of a fork... also
BLOCK CHAIN and PRICE WALL would be great additions if any of the more experienced members would assist.


here's the link:.

https://bitcointalk.org/index.php?topic=407791.0

You should PM mrlotto to get it added to the OP, and I think there are still 1M LOT bounties for games.

I wish folks would stop equating EAC or any crypto-coin to BTC/USD... yes... we all need a base-line measurement of value... but we need to think about what EAC is worth... in real terms.

Example...

That crate of veggies is ~ $60AUD... so using 400EAC to $1AUD... you would need 24,000EAC for your week's worth of veggies. Let's say you have the typical 3x280X mining rig pushing out 2.1Mh/s... at the current difficulty of 40... you would be getting 10,000EAC per day... so while you are at work, doing your day job... your miner is happily mining away on EAC... 3 days of the week would give you about 30,000EAC... instead of thinking... how much is that in BTC or Fiat... there is a week's supply of fresh, organic veggies... a day to pay a weeks worth of power for the miner and then 3 days of the week left to put in the bank.

We as sellers and buyers are going to have to take risks in establishing value for EAC... I may price my veggies for the week at 400EAC to $1AUD only to have the price drop to 600EAC to AUD, or you as the buyer may place your order for a week's supply of veggies only to have the price rise to 200EAC to $1AUD... but we are going to have to do this to create value for EAC... only by using EAC to buy real goods and services is the price of EAC going to stabilise... everything else speculation and speculation brings volatility.

This is why I am offering veggies... others may be able to offer baked goods, knitted sweaters, quilts, or many of the cottage industries where the greatest cost of the product is the time to make it, thus allowing the seller to 'gamble' with the value of their time... so being able to hold a certain amount of EAC till the price stabilises and then be able to average out the pricing.

Crypto-currency must leave the realm of the computer geek to be successful... it must be able to buy real goods and services... and it must priced sensibly. The ideal mature price of EAC would be around 1EAC to $1USD... this means that in many countries of the world, EAC and dollar pricing would be nearly interchangeable... no fancy math involved.

I wish I had a product that I could easily ship world-wide... I am getting too tired to be able to think clearly... but you get the idea... hopefully.

Absolutely... I would love to do this... I know there are several 'soup kitchens' in Sydney, although I am not familiar with them.. but if you can identify the organisation of your choice and a contact... I will deliver to their door... and make sure that the crates are full and running over.

I would need to ask you to the research and contacts yourself as I am already working far too many hours... worked over 120 hours last week... and it is 01:00 here...and I should be sleeping.

But... yes... yes... yes... I can and will do this for you.