LOTTOCOIN OLD THREAD, [CLOSED]

[sleepless]

Yes, at CoinBomb the house gets all what's in when the countdown reaches 0. But LOT1 is still low and just a few hours old - so there will be some buyers. As you said, it was 7.5M in the last round

Woah - hang on, this is not true. Ive seen it posted before, but think it needs explaining how this works.  The house makes 1%.   The people buying are just funding the interest for theprevious person.

Example: The start price is 1000 and the "interest" is 50%.   So player 1 is the owner of the bomb, and the price is now 1,500.

When player 2 buys for 1,500.  Player 1 gets 1,485 coins.   This is their 50% less the 1% house fee.

The house is not making millions - they are just passed from one player to the next.  The coins that you have paid for LOT 1 and LOT 2 have already ben sent to the last player, less 1% for the house.


The risk is that you are not the last person to buy, if you are and nobody buys from you, then you lose and get zero back.

Obviously the lower the price, the more likely it is that somebody will buy - which is why the cheats only do it up to about 500K.  after that they let others (like you) take the risk.

Yes, at CoinBomb the house gets all what's in when the countdown reaches 0. But LOT1 is still low and just a few hours old - so there will be some buyers. As you said, it was 7.5M in the last round

Woah - hang on, this is not true. Ive seen it posted before, but think it needs explaining how this works.  The house makes 1%.   The people buying are just funding the interest for theprevious person.

Example: The start price is 1000 and the "interest" is 50%.   So player 1 is the owner of the bomb, and the price is now 1,500.

When player 2 buys for 1,500.  Player 1 gets 1,485 coins.   This is their 50% less the 1% house fee.

The house is not making millions - they are just passed from one player to the next.  The coins that you have paid for LOT 1 and LOT 2 have already ben sent to the last player, less 1% for the house.


The risk is that you are not the last person to buy, if you are and nobody buys from you, then you lose and get zero back.

Obviously the lower the price, the more likely it is that somebody will buy - which is why the cheats only do it up to about 500K.  after that they let others (like you) take the risk.

Do you seriously have a problem with everyone and everything in this thread.. I dont know what the hell your talking about anymore..

what do you mean the house doesnt make millions? i UNDERSTAND THE 1% fee and so does haggis... do you realise that the final amount which does not get bought.. goes to the house? Thats millions... Or is there a post i missed where he states that the unbought LOTS goes to a shelter for homeless gambling addicts?

Stop treating everyone like a fool. We understand the risks and haggis is right.. 500K and 1M is low... plus there is a 7 day counter for that to happen. its no different from a person spending 500 on a lottery ticket and losing.

Your arguments are flawed.. as you have basically proven to misremember everything.. such as LOT 1 being 80% and not 110% and LOT 1 being at around 7.5 M and not 2M. You keep harping about fair play and fair gambling.. but you seem to be delusional to the idea that house always wins

Sorry but it's true. C3ALL is right and previously LOT1 was (and I don't know why) at 110%. And yes, the house only get's 1% because you paid of the people that bought the bomb before you bought it.

[1714800446]

1714800446

[1714800446]

1714800446

[Nutnut]

Hi guys,

Sorry for the instability of the stratum servers... After an epic battle of wills we have now fixed the issues and sorted the stability (we hope).

Back up to full strength now. In the new year we will be moving the LOT pool to our bigger DB cluster too which means we can re-enable all of the stats as well!

Happy mining!

Nut!

https://lot.nut2pools.com

[acckiller]

hope u got if fixed i lost a lot of coin because of your shit going down and back up love your pool if it works

[Nutnut]

STILL 0% Fees

Our Lottocoin pool has the following features

DDoS protection
SSL across the entire site
VarDiff Stratum servers in Europe, USA and Asia
Dedicated Database Clusters
Proportional Payment system - Helps part time miners as there in no PPLNS ramp up period
Fully redundant servers
0% fee
Anonymous account option - We recommend you enable this to stop brute forcers lovking your account!
Idle worker notifications
FAST servers hosted in a secure, datacenters
Actively developed with new features almost daily
Invitation system
Auto payout alerts

Simply register an account, create a worker, point your miners to the multiple stratum servers and start mining! Smiley

Don't forget: Whatever you decide is your primary pool server, ensure that you configure another one of our servers as a secondary pool too!

Feel free to post any questions.


Happy mining

Nutnut

[Nutnut]

hope u got if fixed i lost a lot of coin because of your shit going down and back up love your pool if it works

So do we! 

Remember we are 0% for the rest of the year too!

Unfortunately as the first BIG pool on the coin we bore the brunt of the DDoS attacks too. Costing a fortune in DDoS protection (not to mention diamonds to keep the mrs happy!)

[leewilson]

Done aswell M6cdszbHUUQaikRuMbuVimtH63NkhuXFeE

Any sign of a poker site being made? would love to play using this coin.

2nd try.

Lq8XpF1wQTCpSMS1zu21SCm2G1qby51H6D

Coins sent

Offer closed for now. Thanks to all who contributed.

I contributed after the giveaway because it is the right thing to do.

I also think we should do the same for Hampuz and take into account that he is not running a business associated with this coin. All goodwill.
https://bitcointalk.org/index.php?action=profile;u=165247

[Hampuz]

Done aswell M6cdszbHUUQaikRuMbuVimtH63NkhuXFeE

Any sign of a poker site being made? would love to play using this coin.

2nd try.

Lq8XpF1wQTCpSMS1zu21SCm2G1qby51H6D

Coins sent

Offer closed for now. Thanks to all who contributed.

I contributed after the giveaway because it is the right thing to do.

I also think we should do the same for Hampuz and take into account that he is not running a business associated with this coin. All goodwill.
https://bitcointalk.org/index.php?action=profile;u=165247

Thanks mate! Saw the trust you left! Makes me happy honestly!  Sent you some coins as a thank you

[leewilson]

Yes, at CoinBomb the house gets all what's in when the countdown reaches 0. But LOT1 is still low and just a few hours old - so there will be some buyers. As you said, it was 7.5M in the last round

Woah - hang on, this is not true. Ive seen it posted before, but think it needs explaining how this works.  The house makes 1%.   The people buying are just funding the interest for theprevious person.

Example: The start price is 1000 and the "interest" is 50%.   So player 1 is the owner of the bomb, and the price is now 1,500.

When player 2 buys for 1,500.  Player 1 gets 1,485 coins.   This is their 50% less the 1% house fee.

The house is not making millions - they are just passed from one player to the next.  The coins that you have paid for LOT 1 and LOT 2 have already ben sent to the last player, less 1% for the house.


The risk is that you are not the last person to buy, if you are and nobody buys from you, then you lose and get zero back.

Obviously the lower the price, the more likely it is that somebody will buy - which is why the cheats only do it up to about 500K.  after that they let others (like you) take the risk.

Exactly. And that is why i never played it even from the day it launched.
I am all for someone using their skill to beat the house. 
The problem is in this game you are only playing against each other and the house gets a vig.
Even though the perception is that you are playing against the house it is actually more a game of mexican standoff/sweat between the players.

[Hampuz]

I just had the best idea for this coin guys!

Someone make a really good looking Sic Bo game and do some over the top pr for us over at the chinese market!

Win?

[leewilson]

Dude, they're saying when IT RUNS OUT. No seconds left, no minutes, no hours, no days.
WHEN THE TIME IS OUT. When the LAST person LOSES his coins, the HOUSE get's it. Who else would get it you say?

Jesus Christ on a bike.  This is like teaching a turkey Chinese.  Ill try and explain it and see if once people get it, Im offered an apology from anyone..  

Price opens at 1000 coins.  Interest is set at 50%.

So - player A is the first to buy he sends over 1000 coins.  He holds the bomb and waits for his 50% interest.

The price is now 1,500 coins.

Player B buys the bomb.  he sends over 1,500 coins.

The house takes 1% (15 coins).

The remaining 1,485 coins are sent to Player A so he gets his 50% interest.

Now the counter reaches zero...  there are no coins there waiting to be kept by the house.   The house had 15 coins interest, the other 1485 were paid out.  All that hapens is the counter gets reset and the person holding the bomb when it got to zero just never got anyone else to pay their interest.  Thats it.


Im honestly havig difficulty trying to make this any simpler without drawing a picture.

The first time I actually lol'd and have been here since day one and read every single post.  Thank you.

And C3ALL make sure and remember that when you point out facts and show people the light that means you are a troll for doing so.
I was welcomed the same way and we both know svennand gets it know matter what he says.

[leewilson]

Done aswell M6cdszbHUUQaikRuMbuVimtH63NkhuXFeE

Any sign of a poker site being made? would love to play using this coin.

2nd try.

Lq8XpF1wQTCpSMS1zu21SCm2G1qby51H6D

Coins sent

Offer closed for now. Thanks to all who contributed.

I contributed after the giveaway because it is the right thing to do.

I also think we should do the same for Hampuz and take into account that he is not running a business associated with this coin. All goodwill.
https://bitcointalk.org/index.php?action=profile;u=165247

Thanks mate! Saw the trust you left! Makes me happy honestly!  Sent you some coins as a thank you

None necessary Hampuz, but thank you.  You deserve every ounce of respect this coin can give.

[skillrun]

What you think of the idea to redesign the logo?
There is already a thread about it.
(https://bitcointalk.org/index.php?topic=391722.msg4223373#msg4223373)

my entry. if you got an idea post your logo in the thread

[badman74]

yep i got the explanation the first time.. and your right c3all about there not being coins for the house besides the 1%. My mistake there

however the LOT 1 was at 80% i dont need to check that. cos i bought and played it when it was at 30K LOT.. i also checked the other coins and noticed the other coins were at 110% and wondered on the difference.

it was at 110% here are my transactions on it

Status: 22823 confirmations
Date: 12/22/2013 14:40
To: Luco1VvJ1DXR83Pimg9cfC5vdBus5PU5wE
Debit: -1667990.00 LOT
Transaction fee: -0.22 LOT
Net amount: -1667990.22 LOT
Transaction ID: e5ee147d23b8496d061e639f8fc346fb16237e9b148346115511dd7b1ac0da82


Status: 22377 confirmations
Date: 12/22/2013 18:29
From: unknown
To: LwavgXroxQtyDGrjt4eYj7LuvBr5VQ5F47 (own address)
Credit: 3292612.26 LOT
Net amount: +3292612.26 LOT
Transaction ID: a7cd17d0e3064d40ace6a5931883b23acb1d1ac329e6ea1bc0b8277f73c8ff12

[leewilson]

I just had the best idea for this coin guys!

Someone make a really good looking Sic Bo game and do some over the top pr for us over at the chinese market!

Win?

Most everything you say is a win along with this idea as well...but you will have to stop giving out the best ideas because people take your good nature and profit from it giving you nothing in return.
I believe there are plenty of devs here that would work with you and cut you in on some of the profits.

Devs pm hampuz and work with him please.

[Hampuz]

I would like to start a "braintrust" circle over at skype. Where we can discuss ideas and how to move forward.

Would prefer it the people that wants in would have atleast 10M LOT and are in it for the long run.

Pm me if you want in and we can make it take off!  I have alot of good ideas and I am sure some of you do too

Cheers!

[Aki4real]

I would like to start a "braintrust" circle over at skype. Where we can discuss ideas and how to move forward.

Would prefer it the people that wants in would have atleast 10M LOT and are in it for the long run.

Pm me if you want in and we can make it take off!  I have alot of good ideas and I am sure some of you do too

Cheers!

Well Im in it for the long run, if u can send me 9,5 mil id be happy to join lol

Good luck though, amazing dedication

[boomerjackson]

so is 55 satoshis the floor?

[cointradero]

so is 55 satoshis the floor?

I doubt it.  I think you may see it hit 40 again.  I'd hope not, but you never know.  It's only a matter of time before Multipool or middlecoin point their pools this way if the value stays at 55 and you won't have anything but dumping of 75% of the coins until the value drops below doge mining. 

[lumberinvestments]

so is 55 satoshis the floor?

I doubt it.  I think you may see it hit 40 again.  I'd hope not, but you never know.  It's only a matter of time before Multipool or middlecoin point their pools this way if the value stays at 55 and you won't have anything but dumping of 75% of the coins until the value drops below doge mining. 

Has everyone thought that this coin is kind of anti-multipool with its random blocks ? The multipools might not produce much if they switch here for half an hour or so only. We might be a little protected from the multipools.
Are you romanian, cointradero ?

[cointradero]

so is 55 satoshis the floor?

I doubt it.  I think you may see it hit 40 again.  I'd hope not, but you never know.  It's only a matter of time before Multipool or middlecoin point their pools this way if the value stays at 55 and you won't have anything but dumping of 75% of the coins until the value drops below doge mining.  

Has everyone thought that this coin is kind of anti-multipool with its random blocks ? The multipools might not produce much if they switch here for half an hour or so only. We might be a little protected from the multipools.
Are you romanian, cointradero ?

Ohioan  

And Dogecoin has random blocks but they have been mining the crap out of that for the past 2 weeks.