LOTTOCOIN OLD THREAD, [CLOSED]

[damnation]

gg Lotto, wall on @20 almost eaten -> @11 in a few days?

lol am not sure if your a supporter or not.. pretty sure ur last post said u went and sold @25 so i guess you have some buy orders in place at a lower lvl.. but 19-15 shows some good resistance so its doubtful it will get lower than 15.. If it does it.. could fall to 11 in a blink..

What would i do.. Buy from 15 all the way to 10 if i could..

I had @23 buy order for 4 BTC yesterday, there was HUGE resistance wall. I was wonder when saw this morning @20 and now @19. Someone dumps really hard.

bought @24 under me 8BTC@23  8BTC@22 and 5 BTC@21

now 19... stupid miners... any point you think that autosell will stop for any reason ?

Just did a quick math from 24h averages of pool:
pool hashrate: 0.927 GH/s
net hashrate: 1.98 GH/s
1 kH/s avg. (24h): approx. 65 LOT (+/- diff)
24h potential mining of that pool: approx. 60 255 000 LOT/Day
24h potential mining of net: approx. 128 700 000 LOT/Day

Just to take it a little bit further.. 1MH/S give about 65000 LOT (24hr) period. Approx 2,708 LOT per hour.

Now these numbers below are coming from my ass so dont take it seriously..

 Current Avg hash rate of middle coin: 11,330 MH/s = 30,681,640 LOT for 1 hour
Estimate hash rate of Hashcows: 1000 Mh/s = 2,708,000 Lot for 1 hour
Current Avg hash rate of Tompool : 155Mh/s = 419,740 per hour

So thats pretty much what we can expect as dump.. if a multipool were to operate on lot for 1 hour.

*EDIT* hash cows has problems finding blocks so i would discount them for now till they get a fix on their issue..

My be I am wrong but does not Net Hashrate mean all computers mining same coin in the same moment? So you have on your mind, what if analysis - all megapools mining at the same time?
Do I understand it correctly?

like i said..those numbers are to be taken with a bucketload of salt..

Anyway your right net hashrate means the entire network hash rate... and no i dont think the multipools are all running at the same time.. they all have their own profitability calculator so it will have different criteria's.. Last i was on middlecoin the discussion was for the ability to mine multiple coins at the same time by splitting the hash rate into different mining operations.. that was due to high hash rate of the pool.. not sure where that discussion went though..

Also mining of a coin usually is not for more than a few minutes at a stretch.. i just expanded on the numbers so we can have an idea about what a multipool could generate for auto exchange

[1715189920]

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[1715189920]

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[1715189920]

1715189920

[damnation]

yes as we are no longer profitable we should see an easement on the number of sells..

Just picking up on this.  The correct term is "as we are no longer as profitable as others"

Its still profitable.

I get about 0.55 $ to the £.  (i just cash out using paypal and suck up the harsh fees and exchange rate - havent bothered figuring out a better way in the UK yet, but have a verified OK pay account, just havent figured out how to use it - help gladly received )

So, as long as lot makes more than the cost of running the rig, then thats fine.   Just some are more profitable than others.

lol i stand corrected.. but i took the lazy man option to type out the text..

anyway..my point remains... as long as we dont match the profitability criteria of the multipool.. we are safe from them mining us.. Multipools have ahuge hash rate behind them so it makes sense that 5 minutes-10 minutes will easily yield them a block.. which they can dump.. at market asap.. one thing i liked about LOT's lotto scheme is the fact that.. 11,330 MH/s could possibly earn only 256 LOT when they find a block

Also lets not forget that the 65 LOT per KH/s (24hr) is not necessarily accurate as its possible for the pool to only hit 256 LOT blocks the entire day... unlikely but possible.

[skillrun]

Current sell stat @ cryptsy

0.00000023      23545638.85475443   5.41549694 BTC
0.00000024      27434797.71336594   6.58435145 BTC
0.00000025      46457403.64372313   11.61435091 BTC

[damnation]

Current sell stat @ cryptsy

0.00000023      23545638.85475443   5.41549694 BTC
0.00000024      27434797.71336594   6.58435145 BTC
0.00000025      46457403.64372313   11.61435091 BTC

ok am trying to wrap my head around a SELL wall.. whats its usefulness? Cos right now it feels like we have trapped the price...

[KeyserSozeMC]

Stop daytrading noobs. You're the ones who destroy the coin's price, don't you understand that?
When most of daytrades dump, people cry.

[rocketron]

good point, dont sell guys, just keep buying 

[skillrun]

Stop daytrading noobs. You're the ones who destroy the coin's price, don't you understand that?
When most of daytrades dump, people cry.

i already stopped. just mentioned it

[damnation]

wow.. 19 17 and 18 just disappeared
and my 400k buy order is getting filled in blocks of 1000..

holy crap thats quick.. i feel like i am getting spammed..

[kwasime]

i think we all need to write to crypsy support asking them to disable the autosell feature cos it is killing the coins.....and soon no one will have interest again......cos i dont think it is affecting just lotto.......i experienced it today with alpha too.....as well as grand coin......so i think if we all send in a ticket to cryptsy....they will listen.....cos that feature is very horrible....it will kill all the alt coins surely especially the script alts...

[rocketron]

i agree, the autosell feature was the worst thing cryptsy implemented

[damnation]

i think we all need to write to crypsy support asking them to disable the autosell feature cos it is killing the coins.....and soon no one will have interest again......cos i dont think it is affecting just lotto.......i experienced it today with alpha too.....as well as grand coin......so i think is we all send in a ticket to cryptsy....they will listen.....cos that feature is very horrible....it will kill all the alt coins surely especially the script alts

i've never actually used the Auto sell feature.. cos i saw a lot of posts which said that Auto-sell had a tendency to drive you into negative balance.. on the other hand its useful if you want to make quick gains..without having the hassle of setting sell orders.. i am sure its a much requested feature and cryptsy will likely take the stand if a coin cant handle that function then it will fail sooner or later down the line..

What you might want to suggest is that all new Alt coins introduced to cryptsy have auto-sell disabled for the first month

[skillrun]

i agree, the autosell feature was the worst thing cryptsy implemented

complete stupid feature!

We could open up a new thread where people can copy a prewriten text for such a ticket.
Maybe a small reward doesn´t matter. Just bringing many LOT holders to let cryptsy know about this probleme.

What you think ?

[rocketron]

sure why not

[Majkeeno]

i agree, the autosell feature was the worst thing cryptsy implemented

Negative side of autosell for sellers - if buyers agree themselves to lower buying price to @xx at the same moment, they just eat cheap coins. Please, let me know next time when it will be and exact price level, thank you.

[noedelx]

What you might want to suggest is that all new Alt coins introduced to cryptsy have auto-sell disabled for the first month

yea thats reasonble

[kwasime]

i agree, the autosell feature was the worst thing cryptsy implemented

Negative side of autosell for sellers - if buyers agree themselves to lower buying price to @xx at the same moment, they just eat cheap coins. Please, let me know next time when it will be and exact price level, thank you.

that feature never list the order in the order book...so you will never know about it happening until your order is being filled.....and the orders a are filled in bits....so it is good for the pool miners but very bad for new coins and traders

[kwasime]

What you might want to suggest is that all new Alt coins introduced to cryptsy have auto-sell disabled for the first month

yea thats reasonble

it doesnt matter the duration...it will kills it.....have you wonered why all the alts are this dead cheap and continue to be cheaper every minute.....its cos the multi pools are killing them.......they will all die very soon.....the autosell feature is very bad for us traders and the coins....thats what is killing the coins now....cos all alt coins are on coinwarz.com......so tell me which older coin older than a month is save apart from the SHA-256 coded coins....all the script coins are going to die......

[zccopwrx]

New old pool announcement!

I forgot to post it on here when we opened..

HashFaster's Lottocoin pool!

• URL: http://lot.hashfaster.com
• 2%PPLNS (1% after 1Gh)
• Statum only
• Vardiff enabled

Professionally operated for serious miners. (no Memes or ugly interfaces, sorry).

Come help us grow!
ZC

[Majkeeno]

i agree, the autosell feature was the worst thing cryptsy implemented

Negative side of autosell for sellers - if buyers agree themselves to lower buying price to @xx at the same moment, they just eat cheap coins. Please, let me know next time when it will be and exact price level, thank you.

that feature never list the order in the order book...so you will never know about it happening until your order is being filled.....and the orders a are filled in bits....so it is good for the pool miners but very bad for new coins and traders

Are you sure? I did not know that these orders does not go into the order list and are going straight to sell - then this feature is very bad for buyers.
But whole cryptsy is a mystery as I did not find anything about orders book, how trades are executed and so on. Every day I learn somethink new, thank you.

[OfWelDan]

With the autosell turned off, wouldn't it be really easy to create a pool that does the same? Make all users mine to one cryptsy account, write an autosell scrypt and pay users in bitcoin.

Right?