LOTTOCOIN OLD THREAD, [CLOSED]

[damnation]

Holy crap was out for a new year party and the lotto page exploded as usual...

Ok first thing first... Its a new year.. so i want to wish you all a happy new year. I hope this year is the year for us becoming LOT Tycoons.

C3ALL not calling you out to slam you and you do speak sense.. I agree on your statements on marketing. Lotto does need a better marketing strategy to get itself out there and as mentioned LOT has an amazing amount of potential.. as a gaming coin (which i believe is how BTC first found its niche)

Now i saw your chart and while it shows a drop.. i believe i have seen that on pretty much every coin launch..Sad to say that despite being new to the cryptoworld (December 3rd) I have observed the launch of at least 15 coins. I don't believe real world mechanics apply when it comes to the launch of a coin in the same sense of a stocks IPO. For the simple reason that alt coins dont offer real world services. Cryptocurrencies have values based on their speculative values in the short term which should be at least (1-2 weeks) at which point we will either start to see a lack of interest in the coin and it will start to die or the coin will start depending on its established services and its long term viability will be shown in approx 2-3 months... You can correct me on this as i haven't been around long enough but i've spent days/nights tracking progress of coins and i dont think i am wrong in my observations.

Anomalies like DOGE went up due to their hype and extensive marketing but i truly doubt its long term viability.. Going viral almost always has the same end.. Death... Haven't really seen the services that support Doge but it will be interesting to see how that plays out. Some of the new next generation coins might exhibit this ability due part to hype and part to perceived real world services.

Now on the issue of premine.. can you let it pass.. its silly really..we dont complain if a company retains 51% of its shares and sells the remaining 49% to the public do we? it wasnt hidden and was clearly mentioned from the beginning.. it was 2% (300M) when the coin just started and nothing was given away... its 2 weeks later and its still 300M and they have given away around 100M.. So They've spent over 100M since its launch about 2 weeks ago and i dont believe it has stopped.. i'm sure that they are still looking for more ways to get it marketed. Or would you suggest a company blows its entire budget on the launch of a coin?? That doesn't seem sensible. There is no need for transparent accounting cos i think 200M for devs is fine.. why? you as a single trader scored 1btc plus got back your stake. sven prob sold a few million every day for 11 satoshis each.. we've all made money out of it..

Hell I'm hashing with 400KH/s i made about 490K on solo mining and another 500k on pool mining.. I risked LOT1 at coinbomb for 80% return on a 629k to make another 500K.. altogether i sold about 640k lot for 0.35 BTC.. why cos i am new to this and i needed to figure out cashing out options.. so do you know what i am going to do with my money earned.. Nothing. its going towards buying me a better card/s as i am moving to building a mining farm for the public (real world) before moving onto the online world. Now, was tht necessary? Nope not really... its quite literally a long winded grandfather story but pointless in the end... I had to stop mining about a week ago as i wasnt earning much since LOT went on coinedup

Now why i like LOT... wallet works.. no fork so far.. no trouble really beside ddos.. no weird errors that basically killed the experience.. were you there for the launch of Mooncoin it was a lovely.. debacle of insanity that took FUBAR to an art form... no premine.. but noone could mine for half an hour after launch but wonder of wonders somehow a ton of blocks got mined.. All pools kept dying and the difficulty jumped from 1-39 i pretty much quit after 1 hour of that.. cashed out the 200k moons at coinedup for about 0.02BTC and said goodbye.. Side note i dont believe it premined by owner.. i think multipool created the coin.. so their usual 1.5% fee on all the new blocks would have been enough to cover their fees.. personally i kinda think its an interestingly twisted way to get your premine.. Best part about the launch was seeing bitcointalk and multipool crash at the same time.. was kinda like running my card on intensity 18 and watching a movie at the same time.. 
 
I would say 200M is fine for their services as i am sure that hundreds of Lotters (what are we called anyway) have made thousands on trading LOT.You mention concerns about premines putting off newminers but we are reaching the point where new miners arent going to be bothered about that.. they will see that for relatively less difficulty they can earn 40 satoshis. I think quark has been heavily premined but its got a remarkable pricing... Personally i prefer.. dev tell us how much was taken and thats the end of that..   

I dont mind spending some time working on communicating to make the coin better and in many ways i consider Hampuz to be the treasurer (lol) and Oldminer as the Chairman.. mrlotto is kind of the founder and thats pretty much it.. We are an active community there is no doubt of it.. we care about the coin there is no doubt on it.. but i suggest we carry these particular conversation at the official lotto forum rather than here. Cos arguing out here is kinda like having a board room negotiation/argument in front of the shareholders.. is there any wonder the prices drop.. in fact i think if we look at cryptsy we might see a correlation of when a dump takes place to when an argument was taking place in here.

Here's a thread i created at the forum so head over there everyone/anyone if you want to suggest improvements or make a difference.
http://lottocointalk.org/index.php?topic=63.0

[1714760322]

1714760322

[1714760322]

1714760322

[1714760322]

1714760322

[1714760322]

1714760322

[1714760322]

1714760322

[binaryclock]

GUYS... DEDICATEDPOOL.COM is on FIRE....




If you aren't mining with us, ask yourself why you mine for less other places?  We get over 50% of the blocks, we are FAST, we are DEPENDABLE.  Come see what all the talk is about... take your mining seriously like a business and get over here

http://LOT.DEDICATEDPOOL.COM

Ryan, dedicatedpool.com support/admin
admin@dedicatedpool.com / IRC on freenode #dedicatedpool

[ist2012]

why the hell is this coin worth so little when catcoin and the other scams are going through the roof! i've made 2btc from the cats i mined right at the start, but the millions of LOTs i have are worth peanuts!!!

what gives?

Do not worry.
catcoin was released in December 21 while Lottocoin was December 12.
The total number of catcoins mined by far is relatively less than that of Lottocoin. So the dump of catcoins finishes much earlier.
Let them dump now. After a few day, the price of Lottocoin will grow up greatly.

[damnation]

I dont think ROME was built in a day.. and maybe we will all be laughing about the time we spent 25,000 LOT on a pizza or something..

here's what i think we are out of the general price war.. we will likely see two more kinds of price spikes.. One when we get on coinchoose and coinwarz... and whatever new service becomes the go-to for info on crypto currencies.. and another when the rewards halves..

I believe its time to start looking for more gaming sites that are willing to accept LOT for their games.. Why? the more games there are.. the more LOT gets bought to play em... the more lots are being bought.. the higher the price.. will be.. though we might wanna do a better job of marketing lotcasino..

[noedelx]

why the hell is this coin worth so little when catcoin and the other scams are going through the roof! i've made 2btc from the cats i mined right at the start, but the millions of LOTs i have are worth peanuts!!!

what gives?

Do not worry.
catcoin was released in December 21 while Lottocoin was December 12.
The total number of catcoins mined by far is relatively less than that of Lottocoin. So the dump of catcoins finishes much earlier.
Let them dump now. After a few day, the price of Lottocoin will grow up greatly.

catcoin on cryptsy is a scam the suply is being manipulated ( it whas at the release atleast ) meaning they slow down the deposit of the coin so theres less suply = higher prices asoon they open those gates suply is gonna flow in hard and crash it ( just like what hapended with doge) they also had a slow down on deposit of doge

look where doge is now .

[Oldminer]

why the hell is this coin worth so little when catcoin and the other scams are going through the roof! i've made 2btc from the cats i mined right at the start, but the millions of LOTs i have are worth peanuts!!!

what gives?

Do not worry.
catcoin was released in December 21 while Lottocoin was December 12.
The total number of catcoins mined by far is relatively less than that of Lottocoin. So the dump of catcoins finishes much earlier.
Let them dump now. After a few day, the price of Lottocoin will grow up greatly.

Looks like the OP answered his own question ie 'why the hell is this coin worth so little when catcoin and the other scams are going through the roof!'.

Answer is because their scams. Thats how they work. Pump 'n dump is the name of the game.

[Oldminer]

we're on coinwarz now.

Not good, but inevitable 

[BC-Trader]

Diff has gone from almost 20 yesterday to 12 now....even after being added to coinwarz....no longer generating tons of coins but still worth mining  

[GigaCoin]

we're on coinwarz now.

Also its listed as one of the most profitable coins out there, the difficulty is gonna go through the roof miners gonna jump on this asap.

[tins]

why the hell is this coin worth so little when catcoin and the other scams are going through the roof! i've made 2btc from the cats i mined right at the start, but the millions of LOTs i have are worth peanuts!!!

what gives?

Do not worry.
catcoin was released in December 21 while Lottocoin was December 12.
The total number of catcoins mined by far is relatively less than that of Lottocoin. So the dump of catcoins finishes much earlier.
Let them dump now. After a few day, the price of Lottocoin will grow up greatly.

Looks like the OP answered his own question ie 'why the hell is this coin worth so little when catcoin and the other scams are going through the roof!'.

Answer is because their scams. Thats how they work. Pump 'n dump is the name of the game.

I disagree. I think it's because of supply and demand and perception.
There are fewer Catcoins on the market and currently a strong demand thanks to Catcoins riding the hype wave of Dogecoin. The perception is that they are valuable since there are less of them.
Once the hype fades, they will be just another has been coin.

Lottocoin has done a number of things wrong (I have already made clear my feelings), but I believe will be around for a while due to it not being tied into the Doge hype train. Also, the coin itself has a unique value and position that could take off should the community push towards that direction.

[noedelx]

why the hell is this coin worth so little when catcoin and the other scams are going through the roof! i've made 2btc from the cats i mined right at the start, but the millions of LOTs i have are worth peanuts!!!

what gives?

Do not worry.
catcoin was released in December 21 while Lottocoin was December 12.
The total number of catcoins mined by far is relatively less than that of Lottocoin. So the dump of catcoins finishes much earlier.
Let them dump now. After a few day, the price of Lottocoin will grow up greatly.

Looks like the OP answered his own question ie 'why the hell is this coin worth so little when catcoin and the other scams are going through the roof!'.

Answer is because their scams. Thats how they work. Pump 'n dump is the name of the game.

I disagree. I think it's because of supply and demand and perception.
There are fewer Catcoins on the market and currently a strong demand thanks to Catcoins riding the hype wave of Dogecoin. The perception is that they are valuable since there are less of them.
Once the hype fades, they will be just another has been coin.

Lottocoin has done a number of things wrong (I have already made clear my feelings), but I believe will be around for a while due to it not being tied into the Doge hype train. Also, the coin itself has a unique value and position that could take off should the community push towards that direction.

there is less suply since its getting slowed down on deposits @ cryptsy  (manipulation)

[tins]

why the hell is this coin worth so little when catcoin and the other scams are going through the roof! i've made 2btc from the cats i mined right at the start, but the millions of LOTs i have are worth peanuts!!!

what gives?

Do not worry.
catcoin was released in December 21 while Lottocoin was December 12.
The total number of catcoins mined by far is relatively less than that of Lottocoin. So the dump of catcoins finishes much earlier.
Let them dump now. After a few day, the price of Lottocoin will grow up greatly.

Looks like the OP answered his own question ie 'why the hell is this coin worth so little when catcoin and the other scams are going through the roof!'.

Answer is because their scams. Thats how they work. Pump 'n dump is the name of the game.

I disagree. I think it's because of supply and demand and perception.
There are fewer Catcoins on the market and currently a strong demand thanks to Catcoins riding the hype wave of Dogecoin. The perception is that they are valuable since there are less of them.
Once the hype fades, they will be just another has been coin.

Lottocoin has done a number of things wrong (I have already made clear my feelings), but I believe will be around for a while due to it not being tied into the Doge hype train. Also, the coin itself has a unique value and position that could take off should the community push towards that direction.

there is less suply since its getting slowed down on deposits @ cryptsy  (manipulation)

Less supply because less are being mined.
(Still won't matter in the long run, Catcoin will fade, Lotto will stick around even with many more coins.)

[noedelx]

why the hell is this coin worth so little when catcoin and the other scams are going through the roof! i've made 2btc from the cats i mined right at the start, but the millions of LOTs i have are worth peanuts!!!

what gives?

Do not worry.
catcoin was released in December 21 while Lottocoin was December 12.
The total number of catcoins mined by far is relatively less than that of Lottocoin. So the dump of catcoins finishes much earlier.
Let them dump now. After a few day, the price of Lottocoin will grow up greatly.

Looks like the OP answered his own question ie 'why the hell is this coin worth so little when catcoin and the other scams are going through the roof!'.

Answer is because their scams. Thats how they work. Pump 'n dump is the name of the game.

I disagree. I think it's because of supply and demand and perception.
There are fewer Catcoins on the market and currently a strong demand thanks to Catcoins riding the hype wave of Dogecoin. The perception is that they are valuable since there are less of them.
Once the hype fades, they will be just another has been coin.

Lottocoin has done a number of things wrong (I have already made clear my feelings), but I believe will be around for a while due to it not being tied into the Doge hype train. Also, the coin itself has a unique value and position that could take off should the community push towards that direction.

there is less suply since its getting slowed down on deposits @ cryptsy  (manipulation)

Less supply because less are being mined.
(Still won't matter in the long run, Catcoin will fade, Lotto will stick around even with many more coins.)

i agree but its also less suply because cryptsy is slowing deposits for like hours before it can be used

all these meme coins will fade within a week of their release on cryptsy while the ones with features stay alive ( even with heavy dumping)

[Oldminer]

I disagree. I think it's because of supply and demand and perception.
There are fewer Catcoins on the market and currently a strong demand thanks to Catcoins riding the hype wave of Dogecoin. The perception is that they are valuable since there are less of them.

And maybe thats what the dev had in mind when he created the coin. Create fewer coins, ride the doge wave, then pump 'n dump. Still a scam.

~meow~

[tins]

I disagree. I think it's because of supply and demand and perception.
There are fewer Catcoins on the market and currently a strong demand thanks to Catcoins riding the hype wave of Dogecoin. The perception is that they are valuable since there are less of them.

And maybe thats what the dev had in mind when he created the coin. Create fewer coins, ride the doge wave, then pump 'n dump. Still a scam.

Ok, put that way. We are in agreement.

[qiwoman]

I think that the fact that this coin actually has a use and a purpose may prolong its shelf life and even give it a good value over time. I have 60k of it so don't know what that may be worth in the future but I am holding onto it and will see with interest what transpires over the coming months.

[RENDERING]

New LottoCoin Pool http://lot.coinarmy.com

Block Finder Bonus turned on!

Here is our server setup:

Stratum
VARDIFF
Every 1 Min block stats update
Every 10 Seconds Dashboard Stats update
Instant payout once a block is confirmed
Block Finder Bonus
PPLNS
2% Fee
Payouts every 1 minute
DDOS Protection
Mobile friendly interface. (tablet and phone)
Dedicated Staff (We are here everyday for you)

Come join the Army! 

[binaryclock]

WE are the LARGEST and most PROFITABLE lottocoin pool on the Internet.  Come check us out!

LOT.DEDICATEDPOOL.COM

Guys, hash rates are picking up... get in here before it gets big and I close registrations... you know it will




Benefits of Mining on DEDICATEDPOOL.COM

• Backups every 30 minutes of the databases and wallets to protect your mining endeavours.
• Full 24/7 support available at admin@dedicatedpool.com
• Mine interrupted - dedicated servers w/redundancy, DDoS protection.
• Trustworthy admins who care about your experience and mining.

Mining Information

• Custom stratum/mpos environment
• Vardiff enabled
• PPNLS payout system
• Everything is transparent - blocks, donations, fees.

Server Infrastructure

• Redundant servers in different datalocations
• DDoS protection at switch level
• 8 Core servers, 256GB DDR3 RAM, RAID 10 SSD
• Ramdisks, memcaches, to make things go extremely quick

The Future

• Implementing a full ticketing system
• Phone and SMS support.. yes phone! Call and talk to someone real.
• More servers, more power, more scalability.

[Oldminer]

WE are the LARGEST and most PROFITABLE lottocoin pool on the Internet.  Come check us out!

Hi

Any chance you can set your pools up so we can use the 1 account to mine all coins (and just change the stratum server) without having to create an account for every pool?

[binaryclock]

Heya OM.  Yeah I'm actually working on that right now.  There will be an option to migrate your user information across all pools shortly.