LOTTOCOIN OLD THREAD, [CLOSED]

[monokaskade]

My pool is down. Getting DDOSd
I changed the IP and it the attack was back 5 minutes later

[dinoo]

Am I too late? After a long while finally there was a good reason to register, lol
Thanks for this offer of 60,000 free LOT, it's awsum!!

LzbUgieKxFe1bxksLR7NY7hTs6zv31JgAZ

[y3804]

Another bump for CoinBomb!

Needs more investors!

P.s Would recommend to buy Lot 4, still quite low.

Link: coinbomb.biz/lottocoin

[Galimore]

I wonder how many coins will an average miner mine each 24 hour period?
And how many coins in a month?
What are the costs of the mining?
And how much profits to expect from the mining?

Just my thoughts, but I thought that miners might find a block every hour,
and the average block will be about 30,000 lottocoins.
That means that each 24 hour period, an average miner will find 24 x 30,000 = 720,000 lottocoins

720,000 lottocoins each day.

30 x 720,000 lottocoins =  21, 600,000 lottocoins on average per miner in the first month

Does that seem like reasonable mining returns for the average miner?
(but this is lottocoin, so they may find some bigger blocks ?)

Perhaps they might find 25 million lottocoins in one month of mining?

I am offerring to buy 50 million for 100 bucks. that is true.

Or, I am offering a miner 50 bucks for his first month of mining lottocoins.

Is my price too low?

Or, will an average miner mine less than this, or more than this?

No offence intended at all. I am curious about this

I'm not sure I understand what you're asking. There have been several trades made within the past few days for ~0.0011 / 10k. The block rewards just halved, meaning miners are getting even less coins now. Why would they sell you their (now scarcer) coins for a tiny tiny fraction of what others are paying? It's like me saying that I'll buy all the bitcoins you have for $1 each.

If the block rewards just halved, then lottocoin started 3 months ago? Why wait 3 months before announcing it at bitcointalk?

Also, if lottocoin has been premined for 3 months, then there are plenty of lottocoins now.

How many? Well, if there is a block found each 30 seconds for 3 months, and if the average per block is around what I said.

Then 2820 blocks per day? (approx)

2820 x 30,000(the average block) =  84, 600, 000 per day

ok, but we have to multiply that times 90(because 3 months have gone by)

90 x 84,600,000 =  7, 614, 000, 000


7 billion, 614 million lottocoins mined already.....


Now reason with me, I am offering 100 bucks for 50 million lottocoins, and there is over 7.5 billion lotto coins already.

It's in bold at the top of the first the first page. "EARLY ADOPTERS BONUS!!! FIRST 3 DAYS OF MINTING, ALL BLOCKS ARE DOUBLE!!!  (Except lotto blocks)". The first three days ended early this morning.

And I still don't understand why you're trying to use the number of coins in circulation to make up some sort of price. People simply won't sell to you because there are other people offering them more money for their coins. The price generally starts out around how much people would have earned mining another coin with a known value (like LTC) and goes up or down from there.

[zakorus]

I wonder how many coins will an average miner mine each 24 hour period?
And how many coins in a month?
What are the costs of the mining?
And how much profits to expect from the mining?

Just my thoughts, but I thought that miners might find a block every hour,
and the average block will be about 30,000 lottocoins.
That means that each 24 hour period, an average miner will find 24 x 30,000 = 720,000 lottocoins

720,000 lottocoins each day.

30 x 720,000 lottocoins =  21, 600,000 lottocoins on average per miner in the first month

Does that seem like reasonable mining returns for the average miner?
(but this is lottocoin, so they may find some bigger blocks ?)

Perhaps they might find 25 million lottocoins in one month of mining?

I am offerring to buy 50 million for 100 bucks. that is true.

Or, I am offering a miner 50 bucks for his first month of mining lottocoins.

Is my price too low?

Or, will an average miner mine less than this, or more than this?

No offence intended at all. I am curious about this

I'm not sure I understand what you're asking. There have been several trades made within the past few days for ~0.0011 / 10k. The block rewards just halved, meaning miners are getting even less coins now. Why would they sell you their (now scarcer) coins for a tiny tiny fraction of what others are paying? It's like me saying that I'll buy all the bitcoins you have for $1 each.

If the block rewards just halved, then lottocoin started 3 months ago? Why wait 3 months before announcing it at bitcointalk?

Also, if lottocoin has been premined for 3 months, then there are plenty of lottocoins now.

How many? Well, if there is a block found each 30 seconds for 3 months, and if the average per block is around what I said.

Then 2820 blocks per day? (approx)

2820 x 30,000(the average block) =  84, 600, 000 per day

ok, but we have to multiply that times 90(because 3 months have gone by)

90 x 84,600,000 =  7, 614, 000, 000


7 billion, 614 million lottocoins mined already.....


Now reason with me, I am offering 100 bucks for 50 million lottocoins, and there is over 7.5 billion lotto coins already.

your math is wrong there are only 10k blocks in circulation and the coin has only been around for 5 days
also the coins halve every 6k (correct me if im wrong) besides the lottory blocks.

so again you're inference is flawed

[zakorus]

and why the fuck are all the pools being DDOSed still?!?!?!!?!!?!? grrr stop it!

[Galimore]

and why the fuck are all the pools being DDOSed still?!?!?!!?!!?!? grrr stop it!

Why do people even bother ddosing pools? You can just set your localhost as your miners fallback and when the pool gets ddos'd you automatically solo mine until it comes back up. All the ddos is really doing is increasing your mining volatility for a bit.

Edit: I guess it makes sense for some coins where the difficulty is way too high to solo mine, but how it does it help for small time coins with a low difficulty?

[Devianttwo]

I just dig for recreation and not 24/7 but if I did I would get ~120k/day = 3.6M per month in a pool, with this diff, but diff increases and you'll never know how many you'll get. Well, I'm not the best, not even the worst.

I quoted the below from this release thread at bitcointalk:

30 seconds block time, Which means Fast confirming transactions
 - Difficulty retargets every block, so diff chasers cant stripmine
 - Initially random 256 - 65536 (256*256) coins per block
 - Hourly, semi-daily and daily superblocks:
  - Hourly lotto 131072 coins per block
  - Semi-daily lotto 262144 coins per block
  - Daily lotto 1048576 coins per block
 - 4 confirmations for transaction. This zap-fast 2 minutes confirmation time
 - 60 confirmations for minted blocks
 - Total coins will be around 18,406,979,840 coins
 - Premine 2%, for dev, support, bounty, and giveaway etc
 - Transaction messaging
 - The payout will be halved every 3 months. The minimum payout per block will be 1 coin.


With 30 second block times, miners should find a block each 30 seconds? this means 120 blocks found each hour.
How many miners are there mining lottocoins?

I found the average, because 30,000 is approximately in the middle of 256 - 65536 (although I am actually low in my estimate)

So it does depend on how many people are mining then.

Do you kind of see my logic though?

Block rewards are halved every 3 months?

But someone was saying that block rewards just halved, therefore I assumed that lottocoin has been premined for 3 months prior to being announced at bitcointalk.

I'm going to ask you one time. Stop trolling this topic.  If you where a bright one you would have read the First post whic hstated for the first 3 days of this coin they will double ALL block rewards. Excluding Jackpot blocks.  The first 72 hours ended on block # 8640. Effectively halving the rewards to there NORMAL rewards that are listed. the max a non jackpot block can be now is 65k. it was 130k yesterday.  Coins where selling at .001 btc per 10k LOTS when rewards where 130k max per block (non jackpot) now that its 65k max per block (non jackpot) the price of LOT's should at least multiply by 1.5x  making them worth a minimum of .0015 BTC / 10k.

[maxbit]

Hey all LottoCoin needs a currency symbol! Not the 3 letter trading symbol, but the monetary unit symbol http://s.xe.com/20100208/themes/xe/images/symbols/xbt.gif

How do we get one?

[Devianttwo]

someone had mentioned that lottocoin had halved already(according to the info that was announced, that means to me that 3 months have gone by, and that means that lottocoin has already been mined for 3 months.

anyways, lottocoin is a new coin, and is not on an exchange as yet.

That means if I buy lottocoins currently the coin is not liquid,
or I mean, I will likely have troubles getting anyone else to pay me
anything at all for it.

Also, premines are really not regarded very well around here.
Its not likely that lottocoin will make it on cryptsy for example, because
i think they made a rule where coins with premines are not allowed nowadays.
(correct me if I am wrong though)

So, seeing as how its not likely easy to sell the 7.5 or 8 billion lottocoins,
therefore I am making a generous offer to buy some coins right now,
under the current situations.

$100 for 50 million lottocoins(and I have not downloaded the wallet yet. I have to risk
downloading a new wallet too)

I doubt very much that anyone would be willing to pay me $100 for those coins,
if I happen to want to sell them immediately.

So, right now, I am making a generous offer. $100 bucks for 50 million coins(and no one is going to buy these off of me right now, so I am taking a loss right this day if we do this trade)

I have posted in reguards to your topic 5 times now telling you what has actually happened.  I will now be reporting your posts to the moderator for removal.

[CheatBean]

Trying so hard not to feed the troll...

[maxbit]

Hit the troll over the head with a hammer more like is what I vote for. Looking at his posts he is a digitalcoin holder I believe...

[y3804]

Can't believe he's writing 1000 words post to justify his lame attempt to troll. Go away, it would be shameful for LOT to be under your ownership.
Your arguments for the most part are invalid.

[Galimore]

I already ignored the guy.

[Devianttwo]

HackShardGaming.net Pool has had yet another Serious database crash due to the massive DDOS attack earlier today. Most people have had there coins automatically transfered out but some people did not request auto payout.  I cannot figure out exactly what I'm going to have to do but I think we are going to have to have yet another website wipe.  These DDOS'ers need to grow the fuck up and stop screwing up all my damn hard work.

[Itun]

I just checked http://lot.hackshardgaming.net/

What happened to all my LOT coins?

I mined 20k and they're all gone...

[prd]

HackShardGaming.net Pool has had yet another Serious database crash due to the massive DDOS attack earlier today. Most people have had there coins automatically transfered out but some people did not request auto payout.  I cannot figure out exactly what I'm going to have to do but I think we are going to have to have yet another website wipe.  These DDOS'ers need to grow the fuck up and stop screwing up all my damn hard work.

Sorry to hear that man. I'm glad to say I got my coins out before anything too serious happened.

Good luck and please let us know if/when the pool is revived!

[damnation]

I don't understand your assumptions.

For some reason you seem to disregard everyone when they did answer you properly.

I would suggest that the next time you look into investing in a coin you read the details on it first.

The coin hasnt been mined for 3 months.Its barely been 5 days.

Being Friendly does not help... when its followed up by ignorance and a large dose of condescension.

Answer yourself this.. would you sell something to someone for 2 dollars if it was worth 400 dollars on the everyday market. Have you ever heard the term "Your offer is an insult".. Congratulations you managed to give me my first contextual experience with it.

Your right its not traded on the market. Which is what makes it a lucrative investment.

[y3804]

I am making a generous offer

Buy all four lots @ CoinBomb first and then we'll have a chat about that deal.
I will be generous too

Guys reading this post, checkout coinbomb!

[Devianttwo]

I just checked http://lot.hackshardgaming.net/

What happened to all my LOT coins?

I mined 20k and they're all gone...

Please read the news page.  Send me your address via PM here on this board and I will send you your 20k.  Our database got corrupted yet again.  This is why I request people to setup an auto payout.