Apparently their bots are still active!

Have people lost interest in flot after the ICO? The current listed price is around USD 0.13, still great for the team (sitting on 70+ million tokens), but terrible for investors.

It appears to be heading the same way as CashPokerPro.

They proudly announced a listing on yobit, when I checked there, I found a listed price of around USD 0.13, far below ico and nowhere near the USD 1 that Firelotto "guaranteed" in their white paper.

It was the op who locked the thread, possibly influenced by the FL admins.

I am an early investor in FireLotto and unhappy with the FUD that the team keeps alive concerning this ICO.

After the original FireLotto thread was inexplicably closed by the OP, I decided to continue the thread, especially since the ICO is still ongoing and there was a lot of interest in it.

There are still some questions that remain insufficiently answered, FL's Telegram Channel is a place where people get banned for posting "difficult" or "uncomfortable" questions. It seems like Bitcointalk is the best avenue for asking critical questions, since at least some of them have been addressed by FL admins.

- The team behind FireLotto is the same team that was behind CashPokerPro, a project where a lot of people lost a lot of money
- FireLotto's CEO was also behind ICOLAB.ME, a short-lived project that "borrowed" some pictures of Jake Brukhman and Adam Draper without asking and added them as advisers to their ICO website. Jake Brukhman exposed them and tweeted about that scam to warn people https://twitter.com/jbrukh/status/950443915999629314, the website was closed down afterwards. The FL team refuses to talk about this.
- the smart contract addresses for token distribution and commission accumulation have not been given, possibly don't exist
- despite claiming "100% transparency" the code on Github is closed source and old
- posted in the Russian thread was a photo of the Instagram account on which Mr. Roman Demidov claimed to have "cured people from cancer, diabetes and other incurable diseases", which doesn't add to the credibility or integrity of FireLotto's CEO
- FireLotto has used three different addresses, first Cyprus, then Singapore and finally in Hong Kong, with the Singapore address apparently being in a beauty mall
- So far, all media exposure through articles has been done through paid publications, essentially advertising dressed up as editorials
- The FireLotto team claimed to have applied for a gaming licence with the Isle of Man gaming commission, the evidence presented in this respect was a photograph taken with a representative of the Isle of Man gaming commission at a trade fair. No other evidence presented and the latest response in this respect was that they are considering their options, which sounds like no application (yet). But in the Telegram channel and elsewhere they were initially boasting that the licence was only a few months away after they had applied for it. Both situations cannot be true at the same time.
- FL team claim to have registered with SEC and are allowed to sell tokens to US citizens, yet they do not use AML/KYC measures. They claim to use SAFT agreements, but SAFTs are not entered into with every person who buys tokens. Not true.
- The White Paper contained a price promise of "at least USD 1" after ICO. This was based on the sole fact that another lottery, TrueFlip (which gets mentioned a LOT in FL's wp) was sold at USD 1 at the time (totally disregarding the fact that TrueFlip has a total token supply of <9m and FL 100m).
- In many places FL claims to operate 4 lotteries, but they really only have 3, with the 4th one being listed as "coming soon" from the start.
- This is also part of the standard repertoire of admin answers, "soon, maybe very soon, after ico, in a few months" etc. No details, hardly any real answers to questions.
- Unsold tokens will be frozen for 12 months, instead of burned. The team has not yet decided how to market the unfrozen tokens next year or what to do with the income.
- Partnertships: ShangriLa is a Georgian casino with headquarter in Tbilisi. It is illegal (online) anywhere except Georgia and is mainly used for money laundering purposes. 1XBET is a scam bookmaker that is licensed in Curacao and is illegal in USA, CHINA, EU, Russia, Japan.. etc... They are mainly targeting former Soviet countries...

So please share your thoughts on this ICO project and I would like to invite FireLotto representatives to take away any and all fear, uncertainty and doubt that still surrounds this project.

PS Burn those unsold tokens!

Hi TC,

That's great, the more transparent, the better!

Your White Paper is not great and doesn't contain the details that investors want to see. I'd like it a bit more specific than: if we sell 16m tickets @ USD 2 and there are 100m tokens in circulation you'd get x.

I'll help you.

Total number of investors: 5489
Total commission accumulated so far: USD 3,875.56
On average per investor: USD 0.70
In order to collect commission every investor has to play the lottery at least once. Cost USD 2.

Therefore, average profit per investor NEGATIVE USD 1.30

A bit more modesty would suit you and it would be great if you could show us the smart contract that has been set up for commission distribution. I don't think you have one.

1.     100% decentralized lottery platform. Everything is built on ETH smart contracts.
You're not 100% decentralized if your team adds money to the jackpot, if your website could be shut down.
2.     Starting from 4 popular lottery games.
Only 3 games, Roger's Wheel has been "Coming soon" since January
3.     Minimum loosing combinations = real chances to win Jack Pot.
What does this mean?
17.  Fire Lotto platform cannot be shut down or effected anyway.
That's what TrueFlip thought until their website got banned in Russia, the same thing could happen to you in other jurisdictions.
18.  The Fire Lotto is totally anonymous.
I'm not sure how governments feel about that, especially the part of no AML/KYC for investors (hello SEC!)
19.  GitHub open code.
You haven't yet shown your open code to anyone.
20.  The first internet community owned lottery.
Isn't FireLotto as community owned as TrueFlip?

"Piling up", yes, we're going to be rolling in commission!

Could you give me a breakdown of the average commission per investor and how much it's going to cost to collect?

You seem quite proud to have an article in this publication, but it's a paid article (again) and cointelegraph just took your money for it.

Check at the bottom of the page:
Disclaimer. Cointelegraph does not endorse any content or product on this page.

Could you please get some serious (gaming magazine) journalist to write something about your enterprise?

Do you not agree that this is typically something that should be prepared, audited and published before, or at the latest early on during, the ICO? It helps to gain investor trust, fend off negativity.

Saying it will be done soon/very soon/after ico, these terms are meaningless, makes it sound like you haven't thought about it yet or are stalling for time.

Charging commission from 1 January (launch of the lottery), commencement of commission payments after ICO

The commission will not attack the unassembled tokens
[/quote]

Please explain how that smart contract was set up or give us the contract address. I don't think you have a smart contract specifically for this.

Dear Sir/Madam ket_gav,

Could you please explain how the smart contract has been set up if it can do the following (from the Telegram channel, Leandro was wrong):

Accumulate commission per token from January 1st for all tokens that were allocated (team +promotional) and sold until 15/4. The only tokens to not accumulate commission are the tokens that remain unsold and will be frozen after 15/4.

So a person buying tokens on 14/4 will receive just as much commission per token as someone buying tokens on 1/1.

I thought it seemed more logical to not accumulate any commission for unsold tokens and to only start accumulating commission as soon as a token was purchased. Luckily commission is so low that it's not really such a big deal. It just shows the lack of thought that's gone into the whole thing.

Please address my main question only.

Not sure if it's a death threat, but definitely a threat. 5000 flots would be serious money if their value does not plummet to USD 0.05 immediately...

Would that payment come out of the marketing budget?

On a more serious note, I think you should report them to the police and/or the SEC. 

First of all, I'm an investor, never have been, never will be a scammer.

You're saying Firelotto cannot be shut down, but what would happen if you close the website as soon as the ICO ends and you cash out all the ETH into your own bank account?

I thought you had taken me off your ridiculous list of "scammers", who have been after you since before I had even heard of your project.

If "the team" adds money to the jackpot, and not an autonomously operating piece of software, it means your team is another point of centralization.

So does the team increase the jackpot or does it happen autonomously?

Have any of the partnerships resulted in an increase in ticket sales yet?

I read that TrueFlip website was banned in Russia, an internet lottery's centralised weak point will always be its website. How would firelotto handle a situation like that, if for example the website gets blocked in one (or more) of its major markets?

I don't mean the source code, I mean the smart contract that's going to distribute flots to investors once the ICO finishes.

Dear SIR, could you PLEASE tell me if that is a good or bad ranking?

That sounds great! Could you give us the addresses of these smart contracts?