LOTTOCOIN OLD THREAD, [CLOSED]

[Oldminer]

I cant read your post c3all, your on ignore for mass FUD spam. Sorry dude.

[xiaoxiaoqiang]

I cant read your post c3all, your on ignore for mass FUD spam. Sorry dude.

你以为我是他？？果然傻的可以

[C3ALL]

Polite notice to all posters:


Please do not give honest opinion in this thread if your honest opinion is not that LOT is either going on an intergalactic journey to the moon or some other celestial body, or indeed that you believe there is action that could be taken to improve LOT's credibility.

Do NOT, under any circumstances attempt to engage in rational debate or conversation that does not entail whipping up some sort of rabid frenzy about how good the coin is.  Your desire for rational thought out reasoning will not be met with great enthusiasm.

End notice.

[Chris001]

Polite notice to all posters:


Please do not give honest opinion in this thread if your honest opinion is not that LOT is either going on a glactic journey to the moon or some other celestial body, or that you believe there is action that could be taken to improve LOT's credibility.

Do NOT, under any circumstances try to engage in rational debate or conversation that does not entail whipping up some sort of rabid frenzy about how good the coin is.  Your desire for rational thought out reasoning will not be met with great enthusiasm.

End notice.

LOL,

Like this is post is NOT rational, neither are the rest of the posts that are being hammered for the SAME type content

[Redcoin]

Having 72%+ coins found in the next 5 months, that worries me. Because if it is actually correct, that means all coins have been found in 1 year. So what will the miners do then?

I have calculated the mintage amounts per 3 months. once mintage runs out the block contains only transaction fees. In theory the network will run itsself from the mining fees, until infinity or as long as technology can store the blockchain

total coins:18,406,979,840

8100000000  1-3  44%

4050000000  4-6  22%

2025000000  7-9  11%

101250000   10-12  5%  YEAR 1

506250000   13-15  2%

253125000   16-18  1%

126562500   19-21

63281250    22-24   YEAR 2

31640625

15820312

7910156

3955078  YEAR 3

1977539

988769

494384  YEAR 4  from year 4 the rewards will be mainly transaction fees, and probably higher than the block size

247192

123596

61798

30899  YEAR 5 

15449


7724

3862

1931  YEAR 6

965

482

241

120  YEAR 7

[1Kb]

Having 72%+ coins found in the next 5 months, that worries me. Because if it is actually correct, that means all coins have been found in 1 year. So what will the miners do then?

I have calculated the mintage amounts per 3 months. once mintage runs out the block contains only transaction fees. In theory the network will run itsself from the mining fees, until infinity or as long as technology can store the blockchain

total coins:18,406,979,840

8100000000  1-3  44%

4050000000  4-6  22%

2025000000  7-9  11%

101250000   10-12  5%  YEAR 1

506250000   13-15  2%

253125000   16-18  1%

126562500   19-21

63281250    22-24   YEAR 2

31640625

15820312

7910156

3955078  YEAR 3

1977539

988769

494384  YEAR 4  from year 4 the rewards will be mainly transaction fees, and probably higher than the block size

247192

123596

61798

30899  YEAR 5 

15449


7724

3862

1931  YEAR 6

965

482

241

120  YEAR 7

these were the numbers I came up with. But I hope yours are better. Although the numbers of coins created is still very high i think. And if you look at the *edit the average i took from the CoinWarz is not meeting up with the average created till date (yesterday).
But again, I really hope my calculations are wrong and your are correct:)

Let's say that the coin generates average block reward of 32896. Each block is found at every 30 seconds. That means
32896 * 2880 = 94,740,480 coins per day.
With a total of 18,406,979,840 this would mean that all coins (when measured at a constant rate) would be found in:
18,406,979,840 / 94,740,480 = 194.3 days (and yes I know that the payout is halved every 3 months)

To be more accurate:
currently available:  3,348,236,737
release date: 12-12-2013
3 months = 91 days.
Days left = 64.
64 * 94,740,480 = 6,063,390,720
3,348,236,737 + 6,127,390,720 = 9,475,627,457 (= approx 50% of all coins)

91 * (94,740,480 / 2) = 4,310,691,840
9,475,627,457 + 4,310,691,840 = 13,786,319,297
So that is 5 months from now. 

*edit
Btw: 3,348,236,737 - 368,139,596 (pre-mine) = 2,980,097,140 mined so far
2,980,097,140 / 27 (days) = 110,373,968 coins per day. So that is more than I used above.


I don't think it was meant to have so many coins mined that fast. Also, I hope I made a calculation error.

(Sources are the lotto coin page and the average taken from coinwarz.)

[AtlantisPlatform]

Polite notice to all posters:


Please do not give honest opinion in this thread if your honest opinion is not that LOT is either going on an intergalactic journey to the moon or some other celestial body, or indeed that you believe there is action that could be taken to improve LOT's credibility.

Do NOT, under any circumstances attempt to engage in rational debate or conversation that does not entail whipping up some sort of rabid frenzy about how good the coin is.  Your desire for rational thought out reasoning will not be met with great enthusiasm.

End notice.

sounds like `it is the same as talking to a religious person, never be critical of their imaginary friiends

[Crypto Apprentice]

Should the lowest number not end up at about 250,000 since the lowest block reward is 1?

1 * 2 per min * 60 mins per hour * 24 hours per day * 30.4 days per month * 3 Months = 262k

Also not sure what happens with the lotto blocks, do they half with the 3 month block halving?

[Redcoin]

oh mines way off,  i forgot there was the first 3 days was tripple rewards and  the premine,
so 777,600,000 for tripple and  368,139,596 premine  

i just multiplied 30k blocks @ 2880 per day + 1.5 million to get a rough idea


and i think thats right about the 1 coin block  minimum

[radi324]

Wouldn't it be a bit more productive to discuss the coin rather than going on for pages about particular users?

I'd say it is hindering the thread by making casual observers less likely to want to post.

Exactly. All this bickering put me off this coin a little bit... can't understand why everyone won't just grab hold of the same rope and pull together. If this coin can't weather this rough period, then it will just go down as one of the failed coins we've seen so far.

[iikun]

Wouldn't it be a bit more productive to discuss the coin rather than going on for pages about particular users?

I'd say it is hindering the thread by making casual observers less likely to want to post.

Exactly. All this bickering put me off this coin a little bit... can't understand why everyone won't just grab hold of the same rope and pull together. If this coin can't weather this rough period, then it will just go down as one of the failed coins we've seen so far.

this.

discussion is one thing but no need to repeat things over & over. If people want to continue their bickering pls understand that continued OT discussion is exactly that. OT.  Create your own thread & kindly stop spamming this one.

[damnation]

ok.. looks like i missed another meltdown..

Ok first of.. i did support a fork.. but that was me being impatient.. if mrlotto is not interested in it i can go along with that just as well..

The low prices arent really bothering me at this stage.. for the simple reason is that i look at this as the early distribution stage.. the reason we have giveaways, prizes, contests etc isn't only just to attract miners/traders attention but also to make sure the coin has a better chance of getting out to everyone.. "A lotto coin in every wallet and a chicken in every oven" kind of thing.. oh sure we got ppl buyng em up in the millions at this stage thats to be expected.. but the prices are low enough that even small traders are likely to be buying and saving away for a rainy day..

I think prices will be low for 6 months leading upto halving at which point miners are going to stop selling at throw away prices.. we cant keep blaming multipools for the price dump.. multipoolers dont set the price... miners and traders do... oh yes there is a drop in price when a multi pooler mines and dumps.. but they usually only work at it a few minutes at a time.. and then do the coinwarz thing and move onto the next most profitable coin.. The rest of the time its miners who keep lowering their prices to meet demands of traders who always want a better deal.. as the price lowers.. difficulty follows and we are back to the multipools.. its a cycle.. and EVERY coin faces it.. unfortunately everyone is so used to the quick turn around of alt prices.. make $1M overnight... that when they see a drop in prices its immediately a fail..

WE DONT NEED TO  GET TO HALVING BLOCK REWARDS if everyone just stopped to think.. I am not selling my coins for less than 100 satoshi the story would be a lot different.. the difficulty would have risen if prices were higher thats a given and yes we would still be getting hit by multipools.. but guess what? when the rewards half and optimistically the coin value say doubles... we are still going to be hit my multipools cos it makes no difference to them 30,000 coins at 15 satoshi or 15,000 coins at 30 satoshi its the same to them...

BTC prices are high because miners know how much they spend in power costs and hardware to get 1 coin... right now, miners of lot are the equivalent to cheap hookers who will spread for the highest bid.. and the traders are the johns who get cheaper and cheaper when they realise how desperate the hookers are... Here's the thing.. prices don't make a diference to traders.... 1 satoshi or 1 btc.. they are still going to buy it.. either to go long on it.. or to make their money on the few points of fluctuation which are the natural market movements on any given day..

Anyway, thats my two cents..

[boomerjackson]

Lottocoin is ok as it is!

ok?
it is practically dead
diff dropped to 6 because everyone stop mining it because price dropped so much
i feel sorry for saving it until today and not dumping first sight it got on cryptsy

+1

even though im still holding for 5 months+.. you never know what might happen

You know, have a look at other altcoins, look at the prices in October, a lot of them where trading at 0.00000014 and they hit something like 0.00000400 or so, and some of them even higher. It is OUR responsibilty to SUPPORT the coin, help the developer to improve where possible!!!! And not start complainnig about the coin price. Indeed it has been moving lower like crazy, and i have been added like crazy. One day LOT will be up again. There is no reason why we would be worth less the certain other coins. PLEASE GET ON SUPPORTING!!! GET ON MINING!!! Maybe developer need to promote the mining pools a little to find now minners.

LOT is dead. Move on. Stop hoping.

I sold my last 10M @ 15 satoshi. Lost 4 BTC in the process.

Edit: It's like every altcoin. Pump and dump. Gets on Cryptsy and never recovers from the crash. Look at CMC and you'll get it..

Yay! Hope this means you'll stop posting on here since you have no more coins!!

[y3804]

Lottocoin is ok as it is!

ok?
it is practically dead
diff dropped to 6 because everyone stop mining it because price dropped so much
i feel sorry for saving it until today and not dumping first sight it got on cryptsy

+1

even though im still holding for 5 months+.. you never know what might happen

You know, have a look at other altcoins, look at the prices in October, a lot of them where trading at 0.00000014 and they hit something like 0.00000400 or so, and some of them even higher. It is OUR responsibilty to SUPPORT the coin, help the developer to improve where possible!!!! And not start complainnig about the coin price. Indeed it has been moving lower like crazy, and i have been added like crazy. One day LOT will be up again. There is no reason why we would be worth less the certain other coins. PLEASE GET ON SUPPORTING!!! GET ON MINING!!! Maybe developer need to promote the mining pools a little to find now minners.

LOT is dead. Move on. Stop hoping.

I sold my last 10M @ 15 satoshi. Lost 4 BTC in the process.

Edit: It's like every altcoin. Pump and dump. Gets on Cryptsy and never recovers from the crash. Look at CMC and you'll get it..

Yay! Hope this means you'll stop posting on here since you have no more coins!!

I have the power to damage the coin if I wished to. Don't provoke me

[boomerjackson]

Lottocoin is ok as it is!

ok?
it is practically dead
diff dropped to 6 because everyone stop mining it because price dropped so much
i feel sorry for saving it until today and not dumping first sight it got on cryptsy

+1

even though im still holding for 5 months+.. you never know what might happen

You know, have a look at other altcoins, look at the prices in October, a lot of them where trading at 0.00000014 and they hit something like 0.00000400 or so, and some of them even higher. It is OUR responsibilty to SUPPORT the coin, help the developer to improve where possible!!!! And not start complainnig about the coin price. Indeed it has been moving lower like crazy, and i have been added like crazy. One day LOT will be up again. There is no reason why we would be worth less the certain other coins. PLEASE GET ON SUPPORTING!!! GET ON MINING!!! Maybe developer need to promote the mining pools a little to find now minners.

LOT is dead. Move on. Stop hoping.

I sold my last 10M @ 15 satoshi. Lost 4 BTC in the process.

Edit: It's like every altcoin. Pump and dump. Gets on Cryptsy and never recovers from the crash. Look at CMC and you'll get it..

Yay! Hope this means you'll stop posting on here since you have no more coins!!

I have the power to damage the coin if I wished to. Don't provoke me

https://i.imgur.com/YjCsY92.gif

[Chris001]

Lottocoin is ok as it is!

ok?
it is practically dead
diff dropped to 6 because everyone stop mining it because price dropped so much
i feel sorry for saving it until today and not dumping first sight it got on cryptsy

+1

even though im still holding for 5 months+.. you never know what might happen

You know, have a look at other altcoins, look at the prices in October, a lot of them where trading at 0.00000014 and they hit something like 0.00000400 or so, and some of them even higher. It is OUR responsibilty to SUPPORT the coin, help the developer to improve where possible!!!! And not start complainnig about the coin price. Indeed it has been moving lower like crazy, and i have been added like crazy. One day LOT will be up again. There is no reason why we would be worth less the certain other coins. PLEASE GET ON SUPPORTING!!! GET ON MINING!!! Maybe developer need to promote the mining pools a little to find now minners.

LOT is dead. Move on. Stop hoping.

I sold my last 10M @ 15 satoshi. Lost 4 BTC in the process.

Edit: It's like every altcoin. Pump and dump. Gets on Cryptsy and never recovers from the crash. Look at CMC and you'll get it..

Yay! Hope this means you'll stop posting on here since you have no more coins!!

I have the power to damage the coin if I wished to. Don't provoke me

ROTFLMMFAO!!!!!!!!

[y3804]

Lottocoin is ok as it is!

ok?
it is practically dead
diff dropped to 6 because everyone stop mining it because price dropped so much
i feel sorry for saving it until today and not dumping first sight it got on cryptsy

+1

even though im still holding for 5 months+.. you never know what might happen

You know, have a look at other altcoins, look at the prices in October, a lot of them where trading at 0.00000014 and they hit something like 0.00000400 or so, and some of them even higher. It is OUR responsibilty to SUPPORT the coin, help the developer to improve where possible!!!! And not start complainnig about the coin price. Indeed it has been moving lower like crazy, and i have been added like crazy. One day LOT will be up again. There is no reason why we would be worth less the certain other coins. PLEASE GET ON SUPPORTING!!! GET ON MINING!!! Maybe developer need to promote the mining pools a little to find now minners.

LOT is dead. Move on. Stop hoping.

I sold my last 10M @ 15 satoshi. Lost 4 BTC in the process.

Edit: It's like every altcoin. Pump and dump. Gets on Cryptsy and never recovers from the crash. Look at CMC and you'll get it..

Yay! Hope this means you'll stop posting on here since you have no more coins!!

I have the power to damage the coin if I wished to. Don't provoke me

I'm serious btw. I could destroy LOT's team credibility in seconds

[BassDuck]

Quit being such petty self centered fucks. PLZ

[Aki4real]

Lottocoin is ok as it is!

ok?
it is practically dead
diff dropped to 6 because everyone stop mining it because price dropped so much
i feel sorry for saving it until today and not dumping first sight it got on cryptsy

+1

even though im still holding for 5 months+.. you never know what might happen

You know, have a look at other altcoins, look at the prices in October, a lot of them where trading at 0.00000014 and they hit something like 0.00000400 or so, and some of them even higher. It is OUR responsibilty to SUPPORT the coin, help the developer to improve where possible!!!! And not start complainnig about the coin price. Indeed it has been moving lower like crazy, and i have been added like crazy. One day LOT will be up again. There is no reason why we would be worth less the certain other coins. PLEASE GET ON SUPPORTING!!! GET ON MINING!!! Maybe developer need to promote the mining pools a little to find now minners.

LOT is dead. Move on. Stop hoping.

I sold my last 10M @ 15 satoshi. Lost 4 BTC in the process.

Edit: It's like every altcoin. Pump and dump. Gets on Cryptsy and never recovers from the crash. Look at CMC and you'll get it..

Yay! Hope this means you'll stop posting on here since you have no more coins!!

I have the power to damage the coin if I wished to. Don't provoke me

I'm serious btw. I could destroy LOT's team credibility in seconds

Even though Im holding LOT, consider yourself provoked, im curious..

[boomerjackson]

Lottocoin is ok as it is!

ok?
it is practically dead
diff dropped to 6 because everyone stop mining it because price dropped so much
i feel sorry for saving it until today and not dumping first sight it got on cryptsy

+1

even though im still holding for 5 months+.. you never know what might happen

You know, have a look at other altcoins, look at the prices in October, a lot of them where trading at 0.00000014 and they hit something like 0.00000400 or so, and some of them even higher. It is OUR responsibilty to SUPPORT the coin, help the developer to improve where possible!!!! And not start complainnig about the coin price. Indeed it has been moving lower like crazy, and i have been added like crazy. One day LOT will be up again. There is no reason why we would be worth less the certain other coins. PLEASE GET ON SUPPORTING!!! GET ON MINING!!! Maybe developer need to promote the mining pools a little to find now minners.

LOT is dead. Move on. Stop hoping.

I sold my last 10M @ 15 satoshi. Lost 4 BTC in the process.

Edit: It's like every altcoin. Pump and dump. Gets on Cryptsy and never recovers from the crash. Look at CMC and you'll get it..

Yay! Hope this means you'll stop posting on here since you have no more coins!!

I have the power to damage the coin if I wished to. Don't provoke me

I'm serious btw. I could destroy LOT's team credibility in seconds

https://i.imgur.com/IuJrm.gif