[ANN] Lottereth - Masternodes and PoW moving to PoS after 12 months

[Beemine.Pro]

Is there a specific time for the release date?

[Lottereth]

Is there a specific time for the release date?

We will announce any applicable dates as soon as we have them - both here and on discord.

At the moment, we're just downloading and validating the ETC blockchain in order to run the donation pool. We'll be doing some additional testing on mining and releasing a wallet very soon.

[prowellG]

Reserved for german translation (in case there will be a translation bounty)

[Lottereth]

The product that inspired us, and which we aim to improve upon, is going to ICO in less than an hour (Firelotto.io). It's already raised almost $4,000,000 through selling approximately 18 million of it's 77 million tokens up for sale. There are a further 20 million tokens kept by the team and 3 million allocated to their bounty program.

The token price will be $0.50 to start with and, over the next month, will rise to $0.90 each. You may find it unusual that we're turning your attention towards a competitor - but we're confident that our product will improve upon their offering and that you'll be able to get in on the action at a much lower cost.

One of the things we really hated about this project is the fact that unsold tokens are locked by the team and available for resell after a year - as if their 20% allocation wasn't enough. There's going to be real downward pressure on their token price as we approach the date of the unlocking of these tokens.

Because there are 100 million FireLotto tokens, none of which are burned, someone participating in their ICO will be valuing their overall product at $50,000,000 (based upon the starting price of tokens tomorrow).

If we valued Lottereth at the same market cap, we'd get a token price of $3.80 per token (due to the lower number of tokens in circulation).

We have decided that the rate of Lottereth miners will get for the Ethereum Classic mined to our pool will be 1 Lottereth for every 0.02 ETC mined. In other words, at the current ETC price, you'd get 1 Lottereth for every $0.35 worth of ETC mined to the donation pool. As all miners are aware, the cost to mine this $0.35 worth of ETC is signficantly less than $0.35.

In summary, mining to the donation pool will probably cost you about $0.09 electricity for every Lottereth token and will ensure you get a masternode earlier - reaping even more rewards.

Alternatively, feel free to wait until mining of the actual Lottereth coin begins. We expect both options to be highly profitable and most of our miners will likely do both.

[blummer]

Instead of mining to the donation address, could we possibly just donate ETC and get lottereth in return?

[Lottereth]

Instead of mining to the donation address, could we possibly just donate ETC and get lottereth in return?

We have put this to a community vote on our Discord community by posting the following:

we've had someone ask us, on the Bitcointalk announcement thread, the following:

Instead of mining to the donation address, could we possibly just donate ETC and get lottereth in return?

We've had similar queries in private messages. It has never been our intention to go this route but we're starting to think that raising the funds required via mining alone may result in us not achieving our goal - even CryptoBridge alone has had it's listing fee doubled recently to 1 BTC.

I'm not sure what the typical miners thoughts on this would be. Would they be happier mining knowing that the project is going to be better funded due to direct donations - leading to an expectation of higher token price. Or would they prefer all tokens to be allocated to miners, and miners alone?

The reason we ask this now is that, as we put more thought into it, we believe direct donation is in the miners interest. The alternative is for those without rigs to point Nicehash or rented rigs to our coin - which would increase mining difficulty for all.

With the above in mind, please use the voting buttons below to let us know your thoughts as we have no intention of changing unless the majority agree.

[jojogt]

Instead of mining to the donation address, could we possibly just donate ETC and get lottereth in return?

We have put this to a community vote on our Discord community by posting the following:

we've had someone ask us, on the Bitcointalk announcement thread, the following:

Instead of mining to the donation address, could we possibly just donate ETC and get lottereth in return?

We've had similar queries in private messages. It has never been our intention to go this route but we're starting to think that raising the funds required via mining alone may result in us not achieving our goal - even CryptoBridge alone has had it's listing fee doubled recently to 1 BTC.

I'm not sure what the typical miners thoughts on this would be. Would they be happier mining knowing that the project is going to be better funded due to direct donations - leading to an expectation of higher token price. Or would they prefer all tokens to be allocated to miners, and miners alone?

The reason we ask this now is that, as we put more thought into it, we believe direct donation is in the miners interest. The alternative is for those without rigs to point Nicehash or rented rigs to our coin - which would increase mining difficulty for all.

With the above in mind, please use the voting buttons below to let us know your thoughts as we have no intention of changing unless the majority agree.

Do You reliaze what Nicehash capable of C11?

mind to elaborate more? or it's just for a donation pool?

[Lottereth]

Instead of mining to the donation address, could we possibly just donate ETC and get lottereth in return?

We have put this to a community vote on our Discord community by posting the following:

we've had someone ask us, on the Bitcointalk announcement thread, the following:

Instead of mining to the donation address, could we possibly just donate ETC and get lottereth in return?

We've had similar queries in private messages. It has never been our intention to go this route but we're starting to think that raising the funds required via mining alone may result in us not achieving our goal - even CryptoBridge alone has had it's listing fee doubled recently to 1 BTC.

I'm not sure what the typical miners thoughts on this would be. Would they be happier mining knowing that the project is going to be better funded due to direct donations - leading to an expectation of higher token price. Or would they prefer all tokens to be allocated to miners, and miners alone?

The reason we ask this now is that, as we put more thought into it, we believe direct donation is in the miners interest. The alternative is for those without rigs to point Nicehash or rented rigs to our coin - which would increase mining difficulty for all.

With the above in mind, please use the voting buttons below to let us know your thoughts as we have no intention of changing unless the majority agree.

Do You reliaze what Nicehash capable of C11?

mind to elaborate more? or it's just for a donation pool?

Yeah, you are correct. The Nicehash systems aren't currently set up for C11 coins - it's just the donation pool could be impacted by Nicehash. Other platforms, such as miningrigrentals, has a potential impacted on both.

[yume91]

Has the release date been set for this project?
I do not see the launch time written on the topic.

[vladivostokom]

maybe sir  has not been set yet,maybe they just preparing more about this project before releasing a  launch,we better watch it  .ill be looking forward for that,go team

[lakad123]

kinda confused about this

[cattano]

Found something interesting here, just by referring people, we could get 100 coins.
How long this referring program open?

[Lottereth]

Has the release date been set for this project?
I do not see the launch time written on the topic.

Apologies for the delayed response. We are currently 100% satisfied with testing of the donation mining pool and the wallet release is imminent. I'll update the initial post with further information in a short while. Stay tuned 

[Lottereth]

Found something interesting here, just by referring people, we could get 100 coins.
How long this referring program open?

Hi,

The referral program is opened until 11.59pm on Thursday. It's not as successful as we'd hoped for some reason - probably the lack of a wallet and source code until now. There's a significantly oversized 5,000 coins to be distributed among the top 10 referrers - given that, as it stands, just a couple of referrals will have you in for a share of it.

We thought 5,000 tokens would be a huge incentive but our skills lie in the technical arena and, if there's one thing this has shown us, it's that we need to add people with marketing experience to the team before we launch the lottery website and begin advertising to the general public.

For now, you should take advantage because, rest assured, there will never be an easier time to get free Lottereth tokens again. 

[Admkng5]

When will start of project?

[yvesmarquez11]

I am reviewing the project documents for about 4 hours. It looks like a very comprehensive project, I will invest a little for ICO. Does Elon musk really support this project?

[Admkng5]

And this project closed also.