LOTTOCOIN OLD THREAD, [CLOSED]

[damnation]

You're missing two points : This coin is not some week old coin its been on since 12 Dec and since that 60m could be easily mined with one person.

No, it couldn't given the rise in diffculty, and around 90% of blocks being taken by just two pools since day one.  This is a dump of the premine, and everyone can see it.  It is exactly the fear that a lot of us spoke about just a few pages back.  Those of us rasing these fears were accused of being trolls and negative toward the coin.  In actual fact we were the ones who could see exactly what was coming when there was no volunteering of open book accounting on the premine.

The sensible thing would have been to sell blocks, all the way up the value.  Instead, there is now a huge wall that has effectively set the maximum value for a long time.  Given some of the amaturish comments from the team toward people here (calling them retarded), this action is hardly a surprise.

The premine is supposed to be for promotion and development.  Its very clear what it is being used for now, and those calling for investment in new games and promotions should be pretty disspointed about this.  There are members here (Hampuz) that have done more for this coin than any premine spending has.

Your a strange person.. so what if its a premine sell order? have you seen the sell price.. its at 2100 satoshi's if your worried about the wall we are a long way away from that.. early optimistic predictions were for 300 satoshi's your talking about something like 7 times higher..

With the way prices have been fluctuating its not hard to buy up a few million here and there... Heck i had 490K on a 400kh/s system.. and another 400k from pool mining for about 5 days. on the other hand using 40K LOT i traded it back and forth till my stake was about 150K in coinedup..  

[noedelx]

Not a chance 20 MHash was getting 10m a day on pools over the last few days.  3MHash was making about 300,000 at best for the last week,  to make 20m a day would have taken about 200M Hash.

ive been mining 100k a day with 500kh and 60k yesterday and today 30k so i woulth say 3mh has way more then 300k ea day last week

[noedelx]

Not a chance 20 MHash was getting 10m a day on pools over the last few days.  3MHash was making about 300,000 at best for the last week,  to make 20m a day would have taken about 200M Hash.

ive been mining 100k a day with 500kh and 60k yesterday and today 30k so i woulth say 3mh has way more then 300k ea day last week

+ people with high hash can  get blocks wich can pay out big

[boomerjackson]

So will the price recover? or will we hover around 40 satoshis for weeks?

[C3ALL]

Your a strange person.. so what if its a premine sell order? have you seen the sell price.. its at 2100 satoshi's if your worried about the wall we are a long way away from that.. early optimistic predictions were for 300 satoshi's your talking about something like 7 times higher..

With the way prices have been fluctuating its not hard to buy up a few million here and there... Heck i had 490K on a 400kh/s system.. and another 400k from pool mining for about 5 days. on the other hand using 40K LOT i traded it back and forth till my stake was about 150K in coinedup..  

And would you put your entire holding on a single order in cryptsy that is a way off being filled?   No, you wouldn't.  Which is why this is obviously sombody that can afford to just park 60M LOT and leave it.  There is only one source that has a bankroll like that.  As Ive said before, anyone who doesn't believe thats a dump of premine coins is deluded.

[haggis]

You could call it a dumb if the sell price would be 10 satoshi, but...

[boomerjackson]

You could call it a dumb if the sell price would be 10 satoshi, but...

well see if mr lotto shows his face

[damnation]

So will the price recover? or will we hover around 40 satoshis for weeks?

who knows about the price... fact is i think its a positive sign.. price stabilised at 15 when it was on coined up.. after coinmarketcap it was at around 28.. now with cryptsy its around 40..

Frankly i wish people would stop using doge as a proof of value. Its misleading.. Doge was highly overvalued by its hype.. give it a few more weeks for the hype to completely die down and we will get a better idea of its true value. Though one advantage to Doge is that due to its hype a lot of services opened up to accepting it so that might improve doge's standing in the ALT community.

[noedelx]

Your a strange person.. so what if its a premine sell order? have you seen the sell price.. its at 2100 satoshi's if your worried about the wall we are a long way away from that.. early optimistic predictions were for 300 satoshi's your talking about something like 7 times higher..

With the way prices have been fluctuating its not hard to buy up a few million here and there... Heck i had 490K on a 400kh/s system.. and another 400k from pool mining for about 5 days. on the other hand using 40K LOT i traded it back and forth till my stake was about 150K in coinedup..  

And would you put your entire holding on a single order in cryptsy that is a way off being filled?   No, you wouldn't.  Which is why this is obviously sombody that can afford to just park 60M LOT and leave it.  There is only one source that has a bankroll like that.  As Ive said before, anyone who doesn't believe thats a dump of premine coins is deluded.

i started mining this coin about maybe 7 days ago i whas mining at 120k a day with 500khs  if someone mines on a pool wwith 20mh's on the same day he shud get 5mill a day think about the fast that this coin is 18 days old
someone with 20mh can easly mined 100MILL coins from start till end. ( i cant even find blocks ever think about the fact that a guy with 20mh's gain from finding blocks with big pay outs )(lottoblocks)

[boomerjackson]

So will the price recover? or will we hover around 40 satoshis for weeks?

who knows about the price... fact is i think its a positive sign.. price stabilised at 15 when it was on coined up.. after coinmarketcap it was at around 28.. now with cryptsy its around 40..

Frankly i wish people would stop using doge as a proof of value. Its misleading.. Doge was highly overvalued by its hype.. give it a few more weeks for the hype to completely die down and we will get a better idea of its true value. Though one advantage to Doge is that due to its hype a lot of services opened up to accepting it so that might improve doge's standing in the ALT community.

Acutally, the coin stabilized around 35-40 on coinedup, which is why this is really really disappointing

[C3ALL]

You could call it a dumb if the sell price would be 10 satoshi, but...

Im not calling it dumb, its an extremely profitable move.  Though on page one:  "Premine 2%, for dev, support, bounty, and giveaway"

Where does it say that almost 20% of the premine will be parked on cryptsy in a $900,000 order for the devs?  Anyone?

[svennand]

this could easily be resolved if mrlotto just followed my tip regarding open book accounting
and giving us his premine wallet adress to monitor. that way these question/speculations would not emerge...

[noedelx]

You could call it a dumb if the sell price would be 10 satoshi, but...

Im not calling it dumb, its an extremely profitable move.  Though on page one:  "Premine 2%, for dev, support, bounty, and giveaway"

Where does it say that almost 20% of the premine will be parked on cryptsy in a $900,000 order for the devs?  Anyone?

stop talking shit all the dam time anyone with a brain woulth not dump below 40 satosis

[C3ALL]

this could easily be resolved if mrlotto just followed my tip regarding open book accounting
and giving us his premine wallet adress to monitor. that way these question/speculations would not emerge...

More chance of taking a pee in the queens handbag imho. 

[tins]

this could easily be resolved if mrlotto just followed my tip regarding open book accounting
and giving us his premine wallet adress to monitor. that way these question/speculations would not emerge...

He premined nearly 400 Million coins and he keeps coming on this thread talking about the price. It's pretty obvious he is the seller.

[damnation]

Your a strange person.. so what if its a premine sell order? have you seen the sell price.. its at 2100 satoshi's if your worried about the wall we are a long way away from that.. early optimistic predictions were for 300 satoshi's your talking about something like 7 times higher..

With the way prices have been fluctuating its not hard to buy up a few million here and there... Heck i had 490K on a 400kh/s system.. and another 400k from pool mining for about 5 days. on the other hand using 40K LOT i traded it back and forth till my stake was about 150K in coinedup..  

And would you put your entire holding on a single order in cryptsy that is a way off being filled?   No, you wouldn't.  Which is why this is obviously sombody that can afford to just park 60M LOT and leave it.  There is only one source that has a bankroll like that.  As Ive said before, anyone who doesn't believe thats a dump of premine coins is deluded.

I know you want to be right. and i dint say it wasnt a premine sell order.. but as i said in my previous posts..

what is wrong with dev selling coins to make money? I think anyone who thinks a dev spends all the time and effort to make a coin and not expect to not get paid for it is deluded.

I could understand your concern if lot was at 3000 satoshi's and it was being sold at 2100.. but as haggis inferred how does selling a large order at abt 52.5 times the current value qualify as a dump.

Yes, i agree a call for transparent accounting of a premine is a fine idea. I wouldn't care if dev put in 150M LOT for "dev services" as part of his tally sheet.

Also lets not forget those many many many hours of pools being crushed by DDOS. During which solo mining was the only option.. I wonder how much 20MH/s could earn you solo mining for 13 hours when every pool is down.

[Galimore]

You could call it a dumb if the sell price would be 10 satoshi, but...

Im not calling it dumb, its an extremely profitable move.  Though on page one:  "Premine 2%, for dev, support, bounty, and giveaway"

Where does it say that almost 20% of the premine will be parked on cryptsy in a $900,000 order for the devs?  Anyone?

stop talking shit all the dam time anyone with a brain woulth not dump below 40 satosis

Unless you happen to have 300 million coins in which case selling at 40 satoshi would net you $90,000. Two years salary for something you worked on for two weeks isn't too bad, right?

[C3ALL]

You could call it a dumb if the sell price would be 10 satoshi, but...

Im not calling it dumb, its an extremely profitable move.  Though on page one:  "Premine 2%, for dev, support, bounty, and giveaway"

Where does it say that almost 20% of the premine will be parked on cryptsy in a $900,000 order for the devs?  Anyone?

stop talking shit all the dam time anyone with a brain woulth not dump below 40 satosis

Eh?  Whos talking sh*t?   Were discussing the action of dumping the premine, not the value its being dumped at.   The premine is, in the OP's own words, for dev, support and giveaways.  Not dumping on cryptsy.  As a few of us said some pages back, this had all the hallmarks of a pump by the devs and then a sell off and abandon.  And here we are seeing a 60M sell order on cryptsy the day it hits.  Doesn't seem like that was talking sh*t either...

[y3804]

You could call it a dumb if the sell price would be 10 satoshi, but...

Im not calling it dumb, its an extremely profitable move.  Though on page one:  "Premine 2%, for dev, support, bounty, and giveaway"

Where does it say that almost 20% of the premine will be parked on cryptsy in a $900,000 order for the devs?  Anyone?

I know for a fact there were some ppl mining 10m/day with 20Mh/s in the first week. MAYBE it's from the premine, but there's a significant possibility it's not

Some buys @ 0.51BTC/m on Cryptsy. It's going up again.

However it would be interesting to ask mrlottos opinion. theres no point on arguing on this until he comments

[Galimore]

You could call it a dumb if the sell price would be 10 satoshi, but...

Im not calling it dumb, its an extremely profitable move.  Though on page one:  "Premine 2%, for dev, support, bounty, and giveaway"

Where does it say that almost 20% of the premine will be parked on cryptsy in a $900,000 order for the devs?  Anyone?

I know for a fact there were some ppl mining 10m/day with 20Mh/s in the first week. MAYBE it's from the premine, but there's a significant possibility it's not

Some buys @ 0.51BTC/m on Cryptsy. It's going up again.

However it would be interesting to ask mrlottos opinion. theres no point on arguing on this until he comments

Lol, and says what? "Nope, I didn't do it." Ok? Unless the actual premine address gets posted it doesn't really mean anything.

And again, who cares if the the 60 million wall is from the premine. It would be even more damaging if it were just being sold in 500k chunks constantly. It would ruin the price for everyone else and still make a ridiculous amount of money.