LOTTOCOIN OLD THREAD, [CLOSED]

[Redcoin]

Vote for lotto coin here: https://bitcointalk.org/index.php?topic=417125

[kpg99miner]

1000 LOT giveaway for signing up at Lotwin Casino

See message here: http://lottocointalk.org/index.php?topic=106.msg489#msg489

replied but i can't confirm the account at the casino!?
empty confirmation mail

When I signed up it had an attachment text file that had the confirmation link in it

ok worked ...
well ... do i have to play to get your giveaway or is it ok so? 

Your going to be the first I am going to try and transfer right now

having  problem with the transfer. I have to get a hold of Redcoin

[funkycoin]

Hold my hands up... I've dumped at 13... not a panic but a calculated decision to keep my Bitcoin safe.

For time being I can only see this going down.

Official Forum Should Be Buzzing - But It's Dead!
1. Official lotto forum has had NO new conversations threads past few of days ... no input from devs at all. Only one recent post today waring this coin is nearly dead!

DEVS Disappeared from this forum too
2. No posts from the DEVS past few days on this forum showing they are too busy on next project not using their time to not support the coin but put energy in somewhere else. (No doubt they will suddenly start posting after I've left this to try and readdress the FUD factor of their main investors like myself dumping).

Crap Branding - Advised By Experts Not To Use Current Logo
3. Rubbish branding that has not been implemented across their brand causing huge amount of brand confusion... Avoidable FAIL despite two experts advising them they were making a MASSIVE mistake.
Check many different logos being used all over the place... Advised them before it hit Cryptsy that they needed to update logo BEFORE it went on Cryptsy but no one listened and now we have over four confusing and piss poor logos representing the brand. See lottocoin home page for 3 different logos and then on the lottocoin OFFICIAL forum... a completely different logo. These guys don't care about their brand or understand the value of branding. Never ONCE been taken seriously by the DEVS or been contacted by them despite inputting valuable advice. Despite offering professional and clear advice to the DEVS they opted for a cheap 1 Bitcoin alternative, wasted valuable time and did not get the market edge they needed for this coin to be taken seriously.

Check my post before it went on Cryptsy warning them to rebrand:
http://lottocointalk.org/index.php?topic=19.0
- IGNORED and RIDICULED !!! ... their biggest FAIL

The Big Announcement we were all waiting for and that they had invested heavily in has bombed
4. LotWinCasino... the huge project is just another cheap gambling site... when challenged about the legality of stating lottocoin was both a 'currency' and also 'Just for play only' on the same page no comment was made suggesting they took no sound legal advice on making such statements.

No Social Media Activity
5. Speaks for Itself... these guys didn't even register twitter.com/lottocoin and settled for twitter.com/lotto_coin where no one can find them! Check when they last posted!

Fans of Lotto like Boomer Jackson and MC Keizer So-Say have disappeared
6. (ironically the crime-lord who disappears in the film The Usual Suspects like our MC has disappeared now his promo bounty has run out)


Listen guys, when I see some changes round here I'll be buying back in as I have an affection for this coin. I've enjoyed the debates on the forum but for now I'm keeping my Bitcoin safe as all I see is a downward trend and no real future.

[cryptasm]

I've dumped at 13

Weak hands from a weak mind.

[luck5]

What good will raising difficulty do?

The miners will receive less coins and will have to sell it for a higher price.

What pays the electricity bills if they dont sell the coins?  Good will and pictures of spiders?

They don't have to sell it this low.

If it was worth 10x as much, it would sell for ten times as much.  A coin is worth what people are willing to pay for it.

No, there are too many coins out @ a low price. That's because of the big miners autoselling.

Why?   Why is LOT so different to all the others?

Because there are many that believe in this coin, there are good casinos and will come even better ones. A lot of people are dedicated about this coin, helping it to evolve.

But I can understand if you don't get it. It wouldn't be such a big surprise at least.

Exactly!

[funkycoin]

I've dumped at 13

Weak hands from a weak mind.

The only people who are keeping this afloat at the moment are the daytraders sending their coins round for the 14 sell and 13 buy... this has been happening since 16/17 but the coins coming in are slowly eroding the abilty to keep this going...

It only takes a few dumpers and those safety walls disappear and the coin dies... my dump is not a panic... as I'll buy in as soon as I see some sound business movement from the DEVS... at the moment I have zero confidence...

If you have followed all my posts they have always been 'challenging'... this is healthy for the coin as it allows the DEVS to come back from a point of strength by countering arguments and showing good business insight in planning and what they have to say.

I am waiting for some REAL news... not just bounty pumped hype... now that the bounty has dwindled so has the news... so let's see what the DEVS have to say... they have ALL been conspicuous in their absence the last few days.

[Hampuz]

I've dumped at 13

Weak hands from a weak mind.

The only people who are keeping this afloat at the moment are the daytraders sending their coins round for the 14 sell and 13 buy... this has been happening since 16/17 but the coins coming in are slowly eroding the abilty to keep this going...

It only takes a few dumpers and those safety walls disappear and the coin dies... my dump is not a panic... as I'll buy in as soon as I see some sound business movement from the DEVS... at the moment I have zero confidence...

If you have followed all my posts they have always been 'challenging'... this is healthy for the coin as it allows the DEVS to come back from a point of strength by countering arguments and showing good business insight in planning and what they have to say.

I am waiting for some REAL news... not just bounty pumped hype... now that the bounty has dwindled so has the news... so let's see what the DEVS have to say... they have been conspicuous in their absence the last few days.

This is coming from the guy who said

Pump to 20 in 10minutes, going to 40 in the next hours and we will see 100 in the next week and 500+ in the end of the year. Remember where you heard it first.

Allow me to, Lmao.

Cheers!

[funkycoin]

This is coming from the guy who said

Pump to 20 in 10minutes, going to 40 in the next hours and we will see 100 in the next week and 500+ in the end of the year. Remember where you heard it first.

Allow me to, Lmao.

Cheers!

maybe you are too young to understand irony

[BassDuck]

This is coming from the guy who said

Pump to 20 in 10minutes, going to 40 in the next hours and we will see 100 in the next week and 500+ in the end of the year. Remember where you heard it first.

Allow me to, Lmao.

Cheers!

maybe you are too young to understand irony

Although in the original post the sarcasm wasn't completely apparent, in hindsight it's the only logical explanation of such a statement.

[funkycoin]

This is coming from the guy who said

Pump to 20 in 10minutes, going to 40 in the next hours and we will see 100 in the next week and 500+ in the end of the year. Remember where you heard it first.

Allow me to, Lmao.

Cheers!

Classic example that illustrates my point perfectly,,, my post was a chance for the DEV team to engage intelligently... but rather than do that HAMPUZ... not a DEV himself but a key member of the lottocoin team comes back to try and discredit me... he quotes one of my posts that was left as a JOKE and rather than bringing us what we all want... some real sound business development news his only retort is quoting my JOKE out of context to make it sound like I am spreading FUD and to discredit my post...

So that it does NOT get buried in weak, pointless and unfounded counter spin... I'm going to post it again to keep it top of the agenda until I see some real change.


Hold my hands up... I've dumped at 13... not a panic but a calculated decision to keep my Bitcoin safe.

For time being I can only see this going down.

Official Forum Should Be Buzzing - But It's Dead!
1. Official lotto forum has had NO new conversations threads past few of days ... no input from devs at all. Only one recent post today waring this coin is nearly dead!

DEVS Disappeared from this forum too
2. No posts from the DEVS past few days on this forum showing they are too busy on next project not using their time to not support the coin but put energy in somewhere else. (No doubt they will suddenly start posting after I've left this to try and readdress the FUD factor of their main investors like myself dumping).

Crap Branding - Advised By Experts Not To Use Current Logo
3. Rubbish branding that has not been implemented across their brand causing huge amount of brand confusion... Avoidable FAIL despite two experts advising them they were making a MASSIVE mistake.
Check many different logos being used all over the place... Advised them before it hit Cryptsy that they needed to update logo BEFORE it went on Cryptsy but no one listened and now we have over four confusing and piss poor logos representing the brand. See lottocoin home page for 3 different logos and then on the lottocoin OFFICIAL forum... a completely different logo. These guys don't care about their brand or understand the value of branding. Never ONCE been taken seriously by the DEVS or been contacted by them despite inputting valuable advice. Despite offering professional and clear advice to the DEVS they opted for a cheap 1 Bitcoin alternative, wasted valuable time and did not get the market edge they needed for this coin to be taken seriously.

Check my post before it went on Cryptsy warning them to rebrand:
http://lottocointalk.org/index.php?topic=19.0
- IGNORED and RIDICULED !!! ... their biggest FAIL

The Big Announcement we were all waiting for and that they had invested heavily in has bombed
4. LotWinCasino... the huge project is just another cheap gambling site... when challenged about the legality of stating lottocoin was both a 'currency' and also 'Just for play only' on the same page no comment was made suggesting they took no sound legal advice on making such statements.

No Social Media Activity
5. Speaks for Itself... these guys didn't even register twitter.com/lottocoin and settled for twitter.com/lotto_coin where no one can find them! Check when they last posted!

Fans of Lotto like Boomer Jackson and MC Keizer So-Say have disappeared
6. (ironically the crime-lord who disappears in the film The Usual Suspects like our MC has disappeared now his promo bounty has run out)


Listen guys, when I see some changes round here I'll be buying back in as I have an affection for this coin. I've enjoyed the debates on the forum but for now I'm keeping my Bitcoin safe as all I see is a downward trend and no real future.


By the way... my points above... don't even touch the issue of the incoming autosales and the flooding of the lottocoin market... I leave that argument to the statisticians and number crunchers.

[C3ALL]

What good will raising difficulty do?

The miners will receive less coins and will have to sell it for a higher price.

Less coins at higher price = same profit.   Only benefits those that were in early and held.  Will do nothing to break free from the multipools what so ever, as they are only interested in the net profit.  1 coin at $1000 is just the same as 1000 coins at 1$.  Difficulty/coin numbers will be utterly meaningless to a multipool thats playing whack-a-mole based on the profit values.

What pays the electricity bills if they dont sell the coins?  Good will and pictures of spiders?

They don't have to sell it this low.

They do if they want to get money to pay the electricity bills.  They could put sell orders in for 200 satoshi, but when the electricity bill lands at the end of the month, all they will have is a big bill and an open order on cryptsy.  Multipools are hardly going to hold onto the coins and trade them in the future when the miners want paying now.

If it was worth 10x as much, it would sell for ten times as much.  A coin is worth what people are willing to pay for it.

No, there are too many coins out @ a low price. That's because of the big miners autoselling.

Yep, auto pools will do what they have always done.  What would happen if the value worked its way back up to where some players bought millions at 30/40 satoshi.  A number of them would dump and thank their lucky stars they got back to a decent exit point.  For every seller, there has to be a buyer.  If there were enough buyers thinking that this coin was going to go up by 10-100x then they would be soaking up every sell order on cryptsy.  So either the buyers have had their fill and dont feel confident enough to soak up all the sell orders, or they think the price is about right where it is.

Why?   Why is LOT so different to all the others?

Because there are many that believe in this coin, there are good casinos and will come even better ones. A lot of people are dedicated about this coin, helping it to evolve.

But I can understand if you don't get it. It wouldn't be such a big surprise at least.

If there were that many that believed in the coin and honestly thought with any degree of certainty that it was going to go up 10x in value, they would have bought every coin for sale.  If there was a 100% guarantee that this was going to go up 10x in value, I would buy every single lot for sale on coined up right up to 100 satoshi orders.  But there is no guarantee, and the number of people with that level of confidence dictates the current value.

If more people have confidence that the value will be going up, then the sell orders will get eaten.  Current appetite dictates current price.

[damnation]

funky am not gonna quote you here.. but i was pretty sure we cleared the discussion on legality.. If it was bothering you so much.. then i think you might want to reconsider investing in any cryptocurrency as those game sites.. are pretty much the start for every coin.. you have to realise most of these coins start out in someone's basement/garage.. so i think lawyers are the last thing anyone will bother to be seeing..

and while i stated earlier that i wasnt a fan of the new logo.. I also dint think paying you 3 btc for a new design logo was worth the expense.. I saw your work.. it looked fine.. oh i agree with your sentiment that branding is important.. and the LOT team dropped the ball there.. but the fact is the ridicule and being ignored stemmed from you quoting the price and then turning around and informing the community you were doing them a favor.. also your op stated it would only take you 3-6 hours of your time to do it... if your professional time is really worth 3 btc for 3 hours of work.. i have no idea why you are bothered with mining ALT coins... 1 week of working and you could have bought the entire line of Cointerra/Black Arrow next generation of ASIC miners... but then again you might want to avoid it as Bitcoins are not only used for Gambling but to buy drugs, assassinations and hookers..

Anyway, i agree that the forum has been a little quiet but then again its because we dont have someone running in here.. screaming that price is 13.. coin is dying.. and so on and so forth.. its not exactly a new event to have coins dip to this price.. and maybe it will see a new low.. maybe not... who knows..

Now, personally i have stopped day trading as the buy walls are just insane to calculate on whether or not i can make a buy back and i am contemplating sending my balance to cold storage... but i will hold of on that decision for another week..as i need to do some traveling and will likely try to trade when i am overseas on cryptsy..

I don't however disagree that communications are a bit messed up with dev team.. and i have stated that we need some kinda "mouth" for the dev team...

By the way boomer and keysore are busy with the dev of their own coin.. and as such arent around much anymore...

[C3ALL]

<snip - lots of valid points regarding LOT>

Agree with the points raised.  You will however get called out on spreading FUD, being a troll and be met with other such comments.   There is no desire what so ever to enter into rational conversation and methods of addressing the extremely valid points you have raised.  Anything suggesting that the current course of action (or inaction) taken by the devs and the team is not correct, will be met by nothing but denial and utter hostility.

I'll guess a dump of the remaining premine at some near point and a walking away.  Given the level of involvement thus far from the people holding the purse strings to the premine, would that actually surprise anyone?

That open book never did arrive did it...   So we can only guess as to whats happeneing/happened with the hundreds of million LOT left over.

We have posters above identifying the millions of cheap coins floating around as a point keeping LOTs value low - but completely and utterly ignore the 360,000,000 premined coins that are floating around that have a zero value attached.

[C3ALL]

and i have stated that we need some kinda "mouth" for the dev team...

Quite happy to do that job for just 25% of the premine.  Special offer.  Next weeks price 30%.

[kamrog]

Hold my hands up... I've dumped at 13... not a panic but a calculated decision to keep my Bitcoin safe.

See, this is what I hate most. This is DECENTRALIZED currency so instead of moaning go and register Twitter/lottocoin and keep it going! Don't wait for people or 2 to do the job for you  so you can sell high. Think and do. 10000 people will be able to do more about it rather than devs. Who needs devs? They've done their job. Period.

[damnation]

What good will raising difficulty do?

The miners will receive less coins and will have to sell it for a higher price.

Less coins at higher price = same profit.   Only benefits those that were in early and held.  Will do nothing to break free from the multipools what so ever, as they are only interested in the net profit.  1 coin at $1000 is just the same as 1000 coins at 1$.  Difficulty/coin numbers will be utterly meaningless to a multipool thats playing whack-a-mole based on the profit values.

What pays the electricity bills if they dont sell the coins?  Good will and pictures of spiders?

They don't have to sell it this low.

They do if they want to get money to pay the electricity bills.  They could put sell orders in for 200 satoshi, but when the electricity bill lands at the end of the month, all they will have is a big bill and an open order on cryptsy.  Multipools are hardly going to hold onto the coins and trade them in the future when the miners want paying now.

If it was worth 10x as much, it would sell for ten times as much.  A coin is worth what people are willing to pay for it.

No, there are too many coins out @ a low price. That's because of the big miners autoselling.

Yep, auto pools will do what they have always done.  What would happen if the value worked its way back up to where some players bought millions at 30/40 satoshi.  A number of them would dump and thank their lucky stars they got back to a decent exit point.  For every seller, there has to be a buyer.  If there were enough buyers thinking that this coin was going to go up by 10-100x then they would be soaking up every sell order on cryptsy.  So either the buyers have had their fill and dont feel confident enough to soak up all the sell orders, or they think the price is about right where it is.

Why?   Why is LOT so different to all the others?

Because there are many that believe in this coin, there are good casinos and will come even better ones. A lot of people are dedicated about this coin, helping it to evolve.

But I can understand if you don't get it. It wouldn't be such a big surprise at least.

If there were that many that believed in the coin and honestly thought with any degree of certainty that it was going to go up 10x in value, they would have bought every coin for sale.  If there was a 100% guarantee that this was going to go up 10x in value, I would buy every single lot for sale on coined up right up to 100 satoshi orders.  But there is no guarantee, and the number of people with that level of confidence dictates the current value.

If more people have confidence that the value will be going up, then the sell orders will get eaten.  Current appetite dictates current price.

Ok on these points C3ALL is pretty much right..

1) higher price for less coins is the same.. look at doge.. it has a diff of 400 but gets raped by multipools even more than we do..

2) cost of hardware/power is a reality for miner.. traders can take a long term position but with most miners rolling their equipment on their credit card.. if they dont liquidate.. they will pretty much be dead at the end of the month..

3) Few coins/many coins.. doesnt change the situation...  now the best way to move forward in terms of price.. is too build up the network hash rate slowly.. and allow prices to stabilise at each checkpoint... if we go to fast we run the risk of triggering a panic sell.. a slow steady pace is whats needed if you want the coin to be able to whether multipools and autosells at a 50 satoshi check point...

4) no argument on supply vs demand

[damnation]

and i have stated that we need some kinda "mouth" for the dev team...

Quite happy to do that job for just 25% of the premine.  Special offer.  Next weeks price 30%.

lol... would i get an open book on your stake?

[C3ALL]

and i have stated that we need some kinda "mouth" for the dev team...

Quite happy to do that job for just 25% of the premine.  Special offer.  Next weeks price 30%.

lol... would i get an open book on your stake?

Yep.  I'd expect some form of timeframe that I'd be expected to be the "mouth" for, and set of expected actions/duties.  If the coin wants to be taken seriously, then run the premine accounts seriously.

[damnation]

and i have stated that we need some kinda "mouth" for the dev team...

Quite happy to do that job for just 25% of the premine.  Special offer.  Next weeks price 30%.

lol... would i get an open book on your stake?

Yep.  I'd expect some form of timeframe that I'd be expected to be the "mouth" for, and set of expected actions/duties.  If the coin wants to be taken seriously, then run the premine accounts seriously.

You do realize your mouth is more likely to send us up in flames??? it would be along the lines of asking Hitler to give a dissertation on the best quality of Jews...

edit* And NO i dont think your hitler.. its just an analogy.

[skillrun]

lol C3ALL
would be too funny when anybody would choose you as the "mouth" of LOT.
Everyone would run away and leave the coin behind ^^