LOTTOCOIN OLD THREAD, [CLOSED]

[mrmork666]

I think mrlotto should add this faucet/scratchie to post#1
http://www.thebitcoinmaster.com/lottocoin/index.php

[1714916283]

1714916283

[holzer]

I think mrlotto should add this faucet/scratchie to post#1
http://www.thebitcoinmaster.com/lottocoin/index.php

Should probably add the official twitter account too.

[C3ALL]

more walls needed on cryptsy.....buy buy buy....this is the cheapest you can get these coins now......so buy as much as you can and lets all hold......we shall head to the sun soon to say HI.....then to the moon where we belong...........BUUUUUYYYYY....LOTTO TO THE MOON

Not wishing to spread fear, but people said 50 was the cheapest.  Then 40, then 30, and now at 20, this is the cheapest.  Those autosells are relentless.  And to quote a previous post, as long as after all costs are taken into account, mining coins still returns more than bank interest, people will still sell.   Im considering buying a whole bunch more mining rigs myself.  Its a better rate of return than any savings account anywhere.

[Majkeeno]

more walls needed on cryptsy.....buy buy buy....this is the cheapest you can get these coins now......so buy as much as you can and lets all hold......we shall head to the sun soon to say HI.....then to the moon where we belong...........BUUUUUYYYYY....LOTTO TO THE MOON

Not wishing to spread fear, but people said 50 was the cheapest.  Then 40, then 30, and now at 20, this is the cheapest.  Those autosells are relentless.  And to quote a previous post, as long as after all costs are taken into account, mining coins still returns more than bank interest, people will still sell.   Im considering buying a whole bunch more mining rigs myself.  Its a better rate of return than any savings account anywhere.

But what if there will not be any buyer...?

[OfWelDan]

Can someone explain to me why it is lotto that's being mined? On Coinwarz for example we are only around #25 most profitable coin, so why would any pools be targeting us?

[Grrizz]

Can someone explain to me why it is lotto that's being mined? On Coinwarz for example we are only around #25 most profitable coin, so why would any pools be targeting us?

The per-block retargeting makes LOT hard to judge by just looking at coinwarz, if you work the averages it actually falls in the top 10, possibly top 5.

Change in diff plays a big part in the coinwarz rankings and the % change listed for both diff and value are important to look at when picking your coin

[OfWelDan]

Can someone explain to me why it is lotto that's being mined? On Coinwarz for example we are only around #25 most profitable coin, so why would any pools be targeting us?

The per-block retargeting makes LOT hard to judge by just looking at coinwarz, if you work the averages it actually falls in the top 10, possibly top 5.

Change in diff plays a big part in the coinwarz rankings and the % change listed for both diff and value are important to look at when picking your coin

Ah of course, didn't think about the per-block retargeting. Thank you

[Chris001]

Signed petition and Voted.


For those of you getting scared, you need to research what you do, not operate off of fear. LOT had 117 votes when I was there, the closest was like 30 votes, with the rest at 2 or 3 lol. LOT has things that others don't. I mean it doesn't take rocket science. BUY/HOLD

This vote is a good indicator of where others are going to go as they leave the shitcoins they just took a bath on. Some will just give up on new coins and go with very established ones. However, those who are looking for a long term winner where they can get in on the ground floor, where else is there to go other than LOT??

[C3ALL]

The difficulty retargetting and random block reward is one of the best defences this coin can have against multipools, but it still doesn't stop them.

I have a feeling that multipools may decide to drop this coin in favour of more "stable" rewards when enough of their members complain about the returns from LOT.   All it takes is a run of low value blocks, or hitting it for only one or two blocks then difficulty raising and them leaving, then coming back five minutes later when diff drops again.  Their miners will spend an increased percentage of time switching.  Lots of lost shares and overall will just cause lower returns for the multipool.

Thats the theory anyway.

[holzer]

mrlotto mentioned that they were looking at ways to combat the multipools, but really what can you do? I don't see anyway to stop it.

[holzer]

The difficulty retargetting and random block reward is one of the best defences this coin can have against multipools, but it still doesn't stop them.

I have a feeling that multipools may decide to drop this coin in favour of more "stable" rewards when enough of their members complain about the returns from LOT.   All it takes is a run of low value blocks, or hitting it for only one or two blocks then difficulty raising and them leaving, then coming back five minutes later when diff drops again.  Their miners will spend an increased percentage of time switching.  Lots of lost shares and overall will just cause lower returns for the multipool.

Thats the theory anyway.

I noticed that hashcows would only mine LOT for like 8 minutes at a time because of this and then move on to something else. Looking at hashcows site just now, it look like they dropped LOT entirely. I don't see any stats for lottocoin on the front page anymore, at least that is good....... for now.

[C3ALL]

I noticed that hashcows would only mine LOT for like 8 minutes at a time because of this and then move on to something else. Looking at hashcows site just now, it look like they dropped LOT entirely. I don't see any stats for lottocoin on the front page anymore, at least that is good....... for now.

Also noticed the same thing for LOT on Hashcows too.  Though even if multipools drop it, we still have the fact that this (and every other) alt coin is more profitable than having money in a bank.  At an aproximate 500% rate of return after almost all expenses.  Its a perfectly feasible business model to fill an industrial unit full of tens of thousands of dollars worth of rigs and set them running.

[holzer]

I noticed that hashcows would only mine LOT for like 8 minutes at a time because of this and then move on to something else. Looking at hashcows site just now, it look like they dropped LOT entirely. I don't see any stats for lottocoin on the front page anymore, at least that is good....... for now.

Also noticed the same thing for LOT on Hashcows too.  Though even if multipools drop it, we still have the fact that this (and every other) alt coin is more profitable than having money in a bank.  At an aproximate 500% rate of return after almost all expenses.  Its a perfectly feasible business model to fill an industrial unit full of tens of thousands of dollars worth of rigs and set them running.

Yes but at least then if one person or group were mining mass amounts of coin it would be in their best interest to not dump and drive the price down. Also has anyone tried getting lottocoin on btc38.com?

[C3ALL]

Depends on what the aims of the person are.   If somebody has bought a load of mining rigs on credit card, they want the money to pay that back asap.  They may just autosell whatever they mine, whether that be LOT or any other alt, just to get the money back quickly.

When its just a case of covering the electricity, and the hardware has already been paid for, then they could just sell enough to cover the electricity cost, and hold the rest and hope it goes up.  They are the miners that are free to just play the market.  Those who have costs or finance to cover will autosell until their costs are covered imho.  With the mass influx of miners in recent months (and Im one of them) - most will be looking to pay back their rig cost before holding anything long term imho.   Some will be able to afford to play the game and hold etc, but the vast majority will want to pay back the cost of that fancy new graphics card as soon as they can.

[Redcoin]

coming soon,  exclusive to lottocoin....

[funkycoin]

Can I please make a suggestion... and to keep the suggestion 'active' til it gets actioned please keep it 'bumped':

Regardless of the slogan that is finally chosen it is evident that this coin has a solid and loyal community and Mr Lotto should capitalise on this by a heading for this thread which immediately draws new readers on the forum in. More debate and contributions to the thread means more traffic and also higher hit rates on google searches as the more debate there is the more references end up in people's google searches on all topics they are looking for regarding crypto and associated searches.

Also ... users and investors check the popular threads in the Alternate cryptocurrencies section for 'TIPS' and to see which coins to get in early on.

IMHO I think that the thread name should be used to 'work harder'.

Love him or hate him, and I've read both arguments from contributors here, C3ALL is the coins best friend.. he has kept debate lively and the forum active... this has ensured that the thread is bumped to the top and naturally draws in more attention and readers from the rest of the community... rather than putting this guy on 'ignore', please engage with him intelligently... the more posts on this forum the more readers and followers we draw in who will also contribute and get involved... snowball!!!

what occured to me from being a newbie up until quite recently is that the debates and insight 'draw you in' and the more involved you get the more passionate you get about the coin... this is the BEST publicity in the world as it is not 'bounty hype' which everyone sees through... its grass roots evolution and perfect for the growth of the communitiy and coin...

So now here's my idea... having been drawn in I have come to LOVE lotto for all its imperfections and early teething with branding and development...

So to draw more people in let's come up with a good slogan for the thread that reflects our growing love and passion for the coin...

My Suggestions, although these are only springboard starters to seed more ideas are:

[ANN] LOTTOCOIN... EVERYONE LOVES LOTTO... ALOTTO!
[ANN] LOTTOCOIN... BETTER THAN BITCOIN & INVESTOR'S NUMBER ONE CHOICE
(better than bitcoin will spark debate)
[ANN] LOTTOCOIN... PASSIONATE INVESTORS CHOOSE LOTTO COIN ... the coin you grow to love!


thoughts please!!!

[Protato]

Getting Lotto on all these exchanges is important, but marketing to the general public to raise awareness of LOTTOCOIN and what uses it holds is even more important...If enough people are interested in what LOT has to offer, it will end up on the exchanges regardless!

I think advertising massively within the forum is good but its the NEW users that we need to bring in...the community here im sure is well aware of LOT =)

[KeyserSozeMC]

Do me a favor. Follow if You'd like to see LOT at CoinPayments.

https://twitter.com/CoinPaymentsNET

[damnation]

coming soon,  exclusive to lottocoin....

Thats amazing.. im not really a gambler but thats very very well done

[mrmork666]

Do me a favor. Follow if You'd like to see LOT at CoinPayments.

https://twitter.com/CoinPaymentsNET

Done