LOTTOCOIN OLD THREAD, [CLOSED]

[KeyserSozeMC]

RapidBall.eu is poor. Just 250m..



WAIT, what? haha

With the current prices, that would be 40BTC.

[damnation]

you know if we aim to get more gambling sites.. we might want to push the game site owners.. to head on over to crypsty and get their stock cheap.. after all... a gambling site cant run without having payout capital in reserves..

In a way the crazy amt of LOT's in circulation makes a lot of sense.. general rule of thumb is that a casino cant run unless it has cash reserves to meet each and every bet made. Pretty sure that the rule doesn't extend to online sites as there are less guidelines.. but if you follow the general rule of thumb and the premise that we are THE gaming coin.. We can take out about half the coins in circulation right there as being in the reserves of the casino.. oh sure they will sell excess back to the market but i wonder whats the amount they keep back in reserve to meet all bets the bigger the site the bigger the reserves.. should be an interesting scene really with coin prices going up to match the needs of the newest gaming/casino owner..

I am not hyping it up... and saying get it cheap.. but it does make sense in a way.. and siteowners like redcoin, rapid,lotto and altbet(maybe?) definitely have a distinct advantage getting it cheap..

Actually i am interested in the maths here.. can somone who runs a gamesite give me an approximate on how much they hold in reserve?

To answer this exact question
http://lot.rapidballs.eu/invest/?pg=qLS1s6rY1tzi
Look at the right hand side you will see RapidBalls has near 250m LOT to cover  stakes
Trust this helps
RB

lol.. i no longer feel bad abt wining the 20k lot from ur free vouchers... i guess redcoin's casino would be having about the same in reserve..

[RapidBalls]

Also note the jackpot is now over 3m for a 25LOT stake

Someone will win it

best

RB

[damnation]

Also note the jackpot is now over 3m for a 25LOT stake

Someone will win it

best

RB

ok fine.. 432 draws at 25LOT bet made.. 

[Hampuz]

https://bitcointalk.org/index.php?topic=409998.new#new

Now its down to two Slogans. The last Poll ended in a tie, so make sure you vote now! Poll is closed in 48hrs.

Cheers!

[funkycoin]

Also note the jackpot is now over 3m for a 25LOT stake

Don't be fooled... MOST OF THE 250 Million will be profit from gambling on bets placed already... more of the winnings will have already been converted in to bitcoin... YES YOUR MONEY and any one stupid enough to think they can beat the odds of a casino is either plain dumb or being exploited...

Do you think these sites are built to give away money and make you all happy... LOL

No they are built to take advantage of people who think they can win big... poor people who dream of turning a small amount of money into a big amount of money as they do not know how to work the system and invest like the savvy investors... the overall odds are ALWAYS stacked in the CASINO's favour so actually YOU will be buying lotto cheap... spending it at casino games sites then the casino games sites will simply be selling it back in to bitcoin...

As price rises from demand they WIN both ways... they syphon of your money and make on the increased demand.

Is everyone around here naive or just plain stupid to understand how it works.

... anyone thinking that casinos are going to be buying to shoot the price up are living in cloud cuckoo land. Yes they may well buy as its a good investment but NOT to cover payouts... its a bit like saying cryptsy would buy lotto to cover the gains...

NO its all calculated to siphon profit off placed bets... YOUR money and YOUR investment.

THE REASON THAT LOTTOCOIN is SUCH a good investment is that there are SO many sad mother-f****rs in the world who play lotto style casino games and bet online. They are all being taken for the biggest scam in global history!

Why do you think they are addictive... coz they place the odds so you win enough times to make you THINK you are winning and when you realise you are actually losing you play harder to TRY and win back your loses... ALL gambling and casinos play on this simple piece of human psychology.

Governments don't mind when its regulated as it brings in much needed tax to support the failing economy so they allow the poor and dumb to be exploited...

[Oldminer]

Don't be fooled... MOST OF THE 250 Million will be profit from gambling on bets placed already...

Shows how little you really know.

As one of those investors who's privy to the amounts invested (a reasonable portion of which is coins I've invested) I can tell you for a FACT these aren't profits from gambler's losses.

Course you will believe what you want to believe, whether its true or not lol

[funkycoin]

Don't be fooled... MOST OF THE 250 Million will be profit from gambling on bets placed already...

Shows how little you really know.

As one of those investors who's privy to the amounts invested (a reasonable portion of which is coins I've invested) I can tell you for a FACT these aren't profits from gambler's losses.

Course you will believe what you want to believe, whether its true or not lol

I simply can't believe that one of the DEVS on this forum has had the audacity to come out and try and knock my post down... NOW I am very suspicious what is going on here... even more suspicious than I was before...

Are you actually telling me that CASINO games sites are built to favour odds for the user... please please say yes on this as that is what your reply is suggesting... that will confirm that the DEVS are in on pulling the wool over every ones eyes...

So exact figures to prove your point please so every one on the forum can see you are telling the truth!!! Even if investment has been made in the short term... don't let that fool you... I'm sure that casino owners won't reveal profit and losses once their sites have paid back initial investment of the build and programming etc... your reply simply does not cut it... so figures please so we can all see exactly how you can claim that I am not right.

[heartthew]

Quick question, not concerned with taking sides - does it even matter if you're right?

This has little to do with promoting the coin, right?

[Nanolucas]

you know if we aim to get more gambling sites.. we might want to push the game site owners.. to head on over to crypsty and get their stock cheap.. after all... a gambling site cant run without having payout capital in reserves..

In a way the crazy amt of LOT's in circulation makes a lot of sense.. general rule of thumb is that a casino cant run unless it has cash reserves to meet each and every bet made. Pretty sure that the rule doesn't extend to online sites as there are less guidelines.. but if you follow the general rule of thumb and the premise that we are THE gaming coin.. We can take out about half the coins in circulation right there as being in the reserves of the casino.. oh sure they will sell excess back to the market but i wonder whats the amount they keep back in reserve to meet all bets the bigger the site the bigger the reserves.. should be an interesting scene really with coin prices going up to match the needs of the newest gaming/casino owner..

I am not hyping it up... and saying get it cheap.. but it does make sense in a way.. and siteowners like redcoin, rapid,lotto and altbet(maybe?) definitely have a distinct advantage getting it cheap..

Actually i am interested in the maths here.. can somone who runs a gamesite give me an approximate on how much they hold in reserve?

Well I can't speak for anyone else, but for my site http://cointography.com I hold a reserve to cover the biggest prize and then in my personal wallets have the coins to replenish that amount when the big prize(s) are won. No one has managed to win the biggest prize yet, but I always have enough ready to pay it out when they do.

[damnation]

Also note the jackpot is now over 3m for a 25LOT stake

Don't be fooled... MOST OF THE 250 Million will be profit from gambling on bets placed already more of the winnings will have already been converted in to bitcoin... YES YOUR MONEY and any one stupid enough to think they can beat the odds of a casino is either plain dumb or being exploited...

Do you think these sites are built to give away money and make you all happy... LOL

No they are built to take advantage of people who think they can win big... poor people who dream of turning a small amount of money into a big amount of money as they do not know how to work the system and invest like the savvy investors... the overall odds are ALWAYS stacked in the CASINO s favour so actually YOU will be buying lotto cheap... spending it at casino games sites then the casino games sites will simply be selling it back in to bitcoin...

As price rises from demand they WIN both ways... they syphon of your money and make on the increased demand.

Is everyone around here naive or just plain stupid to understand how it works.

... anyone thinking that casinos are going to be buying to shoot the price up are living in cloud cuckoo land. Yes they may well buy as its a good investment but NOT to cover payouts... its a bit like saying cryptsy would buy lotto to cover the gains...

NO its all calculated to siphon profit off placed bets... YOUR money and YOUR investment.

THE REASON THAT LOTTOCOIN is SUCH a good investment is that there are SO many sad mother-f****rs in the world who play lotto style casino games and bet online. They are all being taken for the biggest scam in global history!

Why do you think they are addictive... coz they place the odds so you win enough times to make you THINK you are winning and when you realise you are actually losing you play harder to TRY and win back your loses... ALL gambling and casinos play on this simple piece of human psychology.

Governments don't mind when its regulated as it brings in much needed tax to support the failing economy so they allow the poor and dumb to be exploited...

lol pretty sure you misquoted but.. Funky whats your point exactly?

BTC pretty much had its start as a coin to cover bets.. and its probably the best way to show a coin has potential without too much risk.. yes, the fact that LOT is a gaming coin restricts to that field.. but its a big field...

Of course the house wins.. everyone knows that.. I'm not crazy enough to think i can beat the house edge... but i dint think i need to explain that point.. the only reason for my previous post was to determine as to whether i was right to observe a large number of coins being taken out of play on the exchange.. for example, hypothetically if Ladbrokes were to except LOT bets.. how much would they buy from the market to keep in bet reserves? Oh sure, as the value jumps we are going to see a bit more liquidation but thats to be expected.. unless of course.. you plan on the coin's functioning in a vacuum? no market pressure, no manipulation, no multipools, etc.. Or do you hold to the opinion a successful gaming site will immediately close up shop when the coin becomes valuable.. can't really do anything there..
  
As mentioned earlier we are in the distribution phase in a focused field of play.. so its reasonable for rates to be low.. Price will go up when demands go higher thats a given.. i never stated that casino owners would buy to drive the prices up .. they might buy to support a price level.. but they sure as hell arent gonna be buying to pump up its prices.. thats a different field of expertise altogether.

I dont know where in my post you got that idea... The closest i mentioned was that when a new casino operator enters the scene he will start to place orders for LOT to at least cover his initial bets what was wrong with that?

[funkycoin]

Quick question, not concerned with taking sides - does it even matter if you're right?

This has little to do with promoting the coin, right?

As I said... Lotto is a good investment as is exploits the millions of sad MotherF***krs. in the world who play Casino Games.
This is the ONLY reason... its has to be said or we are all holding back from the truth... at least if everyone understands the truth we can move on... but having the DEVS trying to knock my post shows weakness as they KNOW what I am saying is correct...

OK the 250 as admitted is mostly OldMiners investment... he's been mining and prob had a nice chunk of the DEV bounty... but he has MASSIVE invsted interest here so obviously will put up a large amount of the 250 from his mining... but is that a pot to pay out rapidballs winners... no... because as people play the casino makes a profit and they DON'T need that large pot... my point was to say that casino owners and the likes of Ladbrookes only need a small amount to cover bets and odds as they soon begin to win after initially buying... so actually they will selling more than buying.

The big POT simply sits their to make people believe its there to be won... but in reality you will pay MORE in to win it than actually sits there. FACT!!!!

[Chrisiel4]

More good news for Lottocoin!

http://www.cryptoarticles.com/crypto-news/2014/1/11/altbetfair-to-accept-lottocoin-soon

amazing !!

[iikun]

Quick question, not concerned with taking sides - does it even matter if you're right?

This has little to do with promoting the coin, right?

As I said... Lotto is a good investment as is exploits the millions of sad MotherF***krs. in the world who play Casino Games.
This is the ONLY reason... its has to be said or we are all holding back from the truth... at least if everyone understands the truth we can move on... but having the DEVS trying to knock my post shows weakness as they KNOW what I am saying is correct...

OK the 250 as admitted is mostly OldMiners investment... he's been mining and prob had a nice chunk of the DEV bounty... but he has MASSIVE invsted interest here so obviously will put up a large amount of the 250 from his mining... but is that a pot to pay out rapidballs winners... no... because as people play the casino makes a profit and they DON'T need that large pot... my point was to say that casino owners and the likes of Ldbrookes only need a small amount to cover bets and odds as they soon begin to win after initially buying... so actually they will selling more than buying.

The big POT simply sits their to make people believe its there to be won... but in reality you will pay MORE in to win it than actually sits there. FACT!!!!

he knocked your post because you're spouting drivel. 

"at least if everyone understands the truth we can move on"    You mean only when every single user in this thread facilitates your juvenile 'holier than thou' attitude will you grow the hell up & stop posting fud. 

Also, you are trying to cheat the activity/post count by spamming this subforum instead of creating a wiki for your "A to Z of Crypto". Do you not even know that a forum isn't a wiki?  Perhaps you should try reading an A to Z of what the hell a wiki even is    https://bitcointalk.org/index.php?topic=407791.40

[damnation]

crap.. did i just start another meltdown again... i've got to stop posting..

Funky your right... gambling is an addiction and i am well aware of its consequences... however looking at the current trading trend its safer to invest 10K lot in 5 balls rather than 940K lot on day trading...

by the way.. its likely your wrong about the 250M being from winnings...

http://lot.rapidballs.eu/invest/index.php?pg=qLS1s6rPyeLp5g==

Each time someone loses a stake, we distribute the losing stake with a 88%/12% split, RapidBalls taking 88% for covering Business profits, BankRoll losses and costs and Investors receiving a share of the remaining 12%

so the 250M is maintained by the investors... and 88% of all losing stakes goes to rapidballs and maintaining the reserve for payouts.. only 12% goes towards investors.. its a good system to have in play.. and i've seen it in practice in real life...

come to think of it? has rapidballs even had 250M LOT worth of bets so far:P

[damnation]

Quick question, not concerned with taking sides - does it even matter if you're right?

This has little to do with promoting the coin, right?

As I said... Lotto is a good investment as is exploits the millions of sad MotherF***krs. in the world who play Casino Games.
This is the ONLY reason... its has to be said or we are all holding back from the truth... at least if everyone understands the truth we can move on... but having the DEVS trying to knock my post shows weakness as they KNOW what I am saying is correct...

OK the 250 as admitted is mostly OldMiners investment... he's been mining and prob had a nice chunk of the DEV bounty... but he has MASSIVE invsted interest here so obviously will put up a large amount of the 250 from his mining... but is that a pot to pay out rapidballs winners... no... because as people play the casino makes a profit and they DON'T need that large pot... my point was to say that casino owners and the likes of Ldbrookes only need a small amount to cover bets and odds as they soon begin to win after initially buying... so actually they will selling more than buying.

The big POT simply sits their to make people believe its there to be won... but in reality you will pay MORE in to win it than actually sits there. FACT!!!!

he knocked your post because you're spouting drivel. 

"at least if everyone understands the truth we can move on"    You mean only when every single user in this thread facilitates your juvenile 'holier than thou' attitude will you grow the hell up & stop posting fud. 

Also, you are trying to cheat the activity/post count by spamming this subforum instead of creating a wiki for your "A to Z of Crypto". Do you not even know that a forum isn't a wiki?  Perhaps you should try reading an A to Z of what the hell a wiki even is    https://bitcointalk.org/index.php?topic=407791.40

LOL... i dint notice that...

D -
Dump = (see Pump and dump)

P -
Pump  = (see pump and dump)
Pump and dump...(Key definition - needs defining)

That was a wasted scroll journey

[KeyserSozeMC]

LOT near 20 sat at cryptsy

[Oldminer]

Btw, if anyone wants to update the Lottocoin logo on their sites, the following 2D images are available

[OfWelDan]

Also note the jackpot is now over 3m for a 25LOT stake

Someone will win it

best

RB

ok fine.. 432 draws at 25LOT bet made.. 

Made 200 as well :p

[kpg99miner]

LOT is starting on a upward march at Cryptsy!