[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

[crunner]

To be fair to the Dev's Their primary time frame for launch releases was by the end of August. (Remember the quarters conversation?)

They've dangled a few things but not yet delivered, but this by no means suggests they aren't planning on delivering. It's unknown as to whether or not they have read this forum since their last login, so try to remember that just because forum posts/pleas go unanswered doesn't mean we're being ignored.

Theoretical example 1: The devs wanted to get an App to us August 1st, development wasn't ready so they had to postpone the big reveal. This then clashed with their pre-booked family holiday(s) so they are away now, They'll get back in a few days to try and polish their offerings to find we've all gone stir crazy waiting for news.

As Shellbunner pointed out, We are (most of us forum posters at least) committed to 888 like it or not so it's worth remembering while the Devs may not be here reading this (go on, prove me wrong ;-) ) Joe Public certainly is and if we FUD ourselves how else is anyone else going to view Octo?

Let's remember the potential, the small Dev team who have an outside life, the fact that waiting is what we're good at after all this practice and that one day soon^tm we'll be laughing at our own little wobble.

On the plus side 888 are currently quite cheap so you could get a bargain on an OctoGlass :-)

I don't think the devs have abandoned the coin. I think they're buying it. They probably have specific Octo holdings/positions in mind (possibly even necessary) to back their development plans, and of course they (and their investors) want to profit off of their activities and announcements at least as much as any of us. Octo is cheap at the moment. As soon as they announce something concrete the price will rise, possibly quite dramatically. Until they've acquired as much as they want/need they're probably in no rush to announce, and as you know it's a bit of a chore to get your hands on large blocks of Octo.

Like many on this thread, I counsel patience.

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[BeardedCouncil]

I'm about to go on a 2 week family holiday myself but i'll no doubt be reading and posting in forums, I'll also be working from time to time despite being somewhere with patchy internet service.  If something is important to me I can't just switch off and forget about it (though maybe life would be a lot more relaxed if I could!).  If the OctoCoin project has a real cash investor(s) as suggested you can bet they'll be constantly demanding and getting progress updates whereas we ask politely but hardly get any.  Of course that's the dev's prerogative but it does suggest the coin side of things is the least important part of their plans especially without any real indication as to how it integrates into the bigger picture in a way that any other coin couldn't.

Being a complete control freak, a coin with an enigmatic dev team is probably the worst thing I could have picked to get so heavily invested in. 

It could equally be that the investors have final say on what news is delivered and when. Sort of like a traditional games development model with a publisher in control and a developer not able to release news without approval. My point is we don't know what is going on behind the scenes (and we have known that we don't know for quite a long time).

Regarding the bigger picture, what I think we do know is that the reason the apps are being kept under wraps until they are ready is to prevent hype too early, copycatting of features/innovations before 888's ecosystem is ready and for added wow factor upon release.

PR could have been done differently, the devs could have maybe taken on community managers and such but as you alluded to, the Coin itself may be just the first brick in the project. It's up and running and maybe a tick on the to do list for the much bigger 888 project. The OctoBank is a confirmed 'thing' which builds on the Coin and is probably central to the ecosystem allowing the other apps to build on it afterwards.

It's probably going to be true that what 888 becomes won't be something that can't be copied. It will be the sum of a lot of development time rolled out to a degree that it would not be in anyone's interest to 'better it' at what it does because it's already a premium offering. This is where delivering near perfect apps will pay off. Also remember we've got a long way to go til the Vegas days and there's probably a lot of work to do still even after the Devs drop back in on us.

Hold tight and wait for the roller coaster :-) Soon enough we'll know why we've been mining/buying 888

[bholzer]

Check out the new Foo Fighters album cover:



The album, their 8th, was announced on 8/8, has 8 tracks, and was recorded in 8 different cities. Partnership opportunity staring us in the face??

Also, for everybody concerned about the lack of news, I was on a conference call late last week where two of the OctoCoin developers also participated - everything remains on track despite being behind schedule. Some of the necessary paperwork/legal stuff is taking longer than expected (this is unfamiliar territory for financial institutions - we're talking about people who still think free checks when opening a checking account is revolutionary) but they are committed to ensuring there will be no surprise snags down the road. I understand what it's like trying to manage a currency in a bear market when there are so many other responsibilities on your plate. Also, you guys need to realize these guys are approaching this thing a bit differently that most coin devs - they see the coin itself and the distribution as just one part of the equation. The community will rally organically once they begin to produce results and as far I can tell they will have essentially zero competition. Talk is cheap - results are not. I think they have done a great job of building hype and excitement without showing too much of their hand and once these guys have their business rolling and can dedicate themselves fulltime to it, we will see rapid results. If they can create an actual ecosystem with a purpose the impact would be much larger than even all of these big vendors accepting "bitcoin" as payment only to immediately swap it out for fiat - at that point, they're just using bitcoin as an alternative payment processor because they're afraid of the "risk" - until it's treated like a currency it's just sidestep after sidestep. This is bigger than OctoCoin itself - it could prove to be a key piece of the movement in general.

I am as close to being on the inside as it gets without actually being on the inside... and, as I continue to exit my positions in alts, I continue to acquire 888. Everything will be easier to swallow once they roll out even their first project - it isn't going to take much for the trading price to jump up 10x (especially when nothing else of mention is really happening in the boring world of altcoins right now). It's smart to be cautious and smart to be skeptical in this market - they missed their target date and haven't said a word for nearly two weeks - I'm just telling you guys that I have no problem publicly vouching for the OctoCoin team. Just because their marketing doesn't seem to make sense... I assure you there is a method to their madness. It's one of the only alts that I can confidently buy and hold and there is truly nothing else like it.

[frameLAlife]

Thx for the words of encouragement and rationale Bholzer.... I think that many people put quite a bit of value in your opinion based on your rep. I have been around Fusionhash coins including Octo for quite a long time. I will say that it is super frustrating when we don't get updates but we have seen this before from the Octo team. I definitely will continue to buy while the prices are low. I think we have a good community here and that's one of the reasons I have just bailed due to the frustration. That, and the fact that I have bought in to what the devs were selling and what you touched on, that they are building an ecosystem to set them apart. There are a few coins that have tried this and failed. There are a few current coins doing good things but who knows if they will keep it going for long. That's one thing I noticed in the alt coin world is no matter how strong the community and no matter how great some of the ideas are, for some reason alt coin investors have short attention spans. It will be interesting to see if 888 can pull it off and not only make us all some moolah but actually create and maintain.... to me that is the biggest challenge. Will it mean something in the end? I mean there have been some big rises this year for a lot of alts. None of them really have maintained.

I really hate the fact that the devs don't post as much as we all hope, if anything, but just to keep us at ease since many of us are heavily invested at almost 6 months in. But, I'll say thanks to everyone that still posts and makes this board fun and thanks to Bholzer for stepping in and filling the gap.

[syncsam]

Damn you bholzer, every time you say something it makes me want to buy more, but I can't afford it 

[octoman]

Is it just me or is the octocoin symbol very similar to the Hydra symbol out of Captain America??
Just to confirm - I've not accidentally entered a neo-nazi cult and be asked to help out with a bit of new order world domination will I? Cos most my Thursdays are usually booked up??

[frameLAlife]

Is it just me or is the octocoin symbol very similar to the Hydra symbol out of Captain America??
Just to confirm - I've not accidentally entered a neo-nazi cult and be asked to help out with a bit of new order world domination will I? Cos most my Thursdays are usually booked up??

hahaha.

[thenotfatguy]

Is it just me or is the octocoin symbol very similar to the Hydra symbol out of Captain America??
Just to confirm - I've not accidentally entered a neo-nazi cult and be asked to help out with a bit of new order world domination will I? Cos most my Thursdays are usually booked up??

^{shhh now octoman, your powers will be of great benefit to us} 

[frameLAlife]

To be fair to the Dev's Their primary time frame for launch releases was by the end of August. (Remember the quarters conversation?)

They've dangled a few things but not yet delivered, but this by no means suggests they aren't planning on delivering. It's unknown as to whether or not they have read this forum since their last login, so try to remember that just because forum posts/pleas go unanswered doesn't mean we're being ignored.

Theoretical example 1: The devs wanted to get an App to us August 1st, development wasn't ready so they had to postpone the big reveal. This then clashed with their pre-booked family holiday(s) so they are away now, They'll get back in a few days to try and polish their offerings to find we've all gone stir crazy waiting for news.

As Shellbunner pointed out, We are (most of us forum posters at least) committed to 888 like it or not so it's worth remembering while the Devs may not be here reading this (go on, prove me wrong ;-) ) Joe Public certainly is and if we FUD ourselves how else is anyone else going to view Octo?

Let's remember the potential, the small Dev team who have an outside life, the fact that waiting is what we're good at after all this practice and that one day soon^tm we'll be laughing at our own little wobble.

On the plus side 888 are currently quite cheap so you could get a bargain on an OctoGlass :-)

I don't think the devs have abandoned the coin. I think they're buying it. They probably have specific Octo holdings/positions in mind (possibly even necessary) to back their development plans, and of course they (and their investors) want to profit off of their activities and announcements at least as much as any of us. Octo is cheap at the moment. As soon as they announce something concrete the price will rise, possibly quite dramatically. Until they've acquired as much as they want/need they're probably in no rush to announce, and as you know it's a bit of a chore to get your hands on large blocks of Octo.

Like many on this thread, I counsel patience.

^^^ what he said. buy up while it's still cheap!

[frameLAlife]

Is it just me or is the octocoin symbol very similar to the Hydra symbol out of Captain America??
Just to confirm - I've not accidentally entered a neo-nazi cult and be asked to help out with a bit of new order world domination will I? Cos most my Thursdays are usually booked up??

^{shhh now octoman, your powers will be of great benefit to us} 

hahahaha awesome!

[LeFiste]

I wonder what role Octocoin will play in the whole concept of the Devs/Octosuite. Will it be a payment method? A gimmick? Will it have true value? In my opinion a problem for Octocoin to be used as "the currency" of the Octosuite/Apps is the distribution. As for right now, there are a small number of heavily invested individuals. How will new "customers" be able to get their share or buy in, if we all are not willing to sell...I see many of us planning to hold long term.

EDIT: remember, there will only be around 3 times as many Octocoins as Bitcoins...if the net-hashrate climbs exponentially Octocoins will be VERY rare.

[frameLAlife]

I wonder what role Octocoin will play in the whole concept of the Devs/Octosuite. Will it be a payment method? A gimmick? Will it have true value? In my opinion a problem for Octocoin to be used as "the currency" of the Octosuite/Apps is the distribution. As for right now, there are a small number of heavily invested individuals. How will new "customers" be able to get their share or buy in, if we all are not willing to sell...I see many of us planning to hold long term.

EDIT: remember, there will only be around 3 times as many Octocoins as Bitcoins...if the net-hashrate climbs exponentially Octocoins will be VERY rare.

That's somewhat true. There are quite a bit of heavy hands in this early but that was by design imo. I think the plan was for the first 6 months to distribute 31 million coins to early adopters/miners. This probably includes the devs buying up also.

I don't know how many people are looking to hold long term as in years. I think that will be determined by how well the suite of apps and the ecosystem does. I think many will sell some but not all of their holdings so they can make a guaranteed return but hold a portion long term in case it does something amazing.

I think the cap at almost 89 million coins is decent and gives early investors a payoff for getting in while the bonus blocks were going on but will still leave 58 million to be distributed.

I'll say this: I'm looking to sell a portion at between 50 cents to a dollar per coin to get a great return and will hold the rest long term. I think the first bump can reach and maintain between 10 -25 cents but I don't see selling that low unless I had to.

It will be interesting to see how it all unfolds.

[noneclick]

Check out the new Foo Fighters album cover:

https://i.imgur.com/9Ppf0eW.jpg

The album, their 8th, was announced on 8/8, has 8 tracks, and was recorded in 8 different cities. Partnership opportunity staring us in the face??

Also, for everybody concerned about the lack of news, I was on a conference call late last week where two of the OctoCoin developers also participated - everything remains on track despite being behind schedule. Some of the necessary paperwork/legal stuff is taking longer than expected (this is unfamiliar territory for financial institutions - we're talking about people who still think free checks when opening a checking account is revolutionary) but they are committed to ensuring there will be no surprise snags down the road. I understand what it's like trying to manage a currency in a bear market when there are so many other responsibilities on your plate. Also, you guys need to realize these guys are approaching this thing a bit differently that most coin devs - they see the coin itself and the distribution as just one part of the equation. The community will rally organically once they begin to produce results and as far I can tell they will have essentially zero competition. Talk is cheap - results are not. I think they have done a great job of building hype and excitement without showing too much of their hand and once these guys have their business rolling and can dedicate themselves fulltime to it, we will see rapid results. If they can create an actual ecosystem with a purpose the impact would be much larger than even all of these big vendors accepting "bitcoin" as payment only to immediately swap it out for fiat - at that point, they're just using bitcoin as an alternative payment processor because they're afraid of the "risk" - until it's treated like a currency it's just sidestep after sidestep. This is bigger than OctoCoin itself - it could prove to be a key piece of the movement in general.

I am as close to being on the inside as it gets without actually being on the inside... and, as I continue to exit my positions in alts, I continue to acquire 888. Everything will be easier to swallow once they roll out even their first project - it isn't going to take much for the trading price to jump up 10x (especially when nothing else of mention is really happening in the boring world of altcoins right now). It's smart to be cautious and smart to be skeptical in this market - they missed their target date and haven't said a word for nearly two weeks - I'm just telling you guys that I have no problem publicly vouching for the OctoCoin team. Just because their marketing doesn't seem to make sense... I assure you there is a method to their madness. It's one of the only alts that I can confidently buy and hold and there is truly nothing else like it.

Word! 

[thenotfatguy]

Hi pals thought Id drop by for an update,

I apologize for not having released any news last week, which to some may have given the impression of me abandoning this community.
However, it was simply done due to lack of content, and in hindsight I probably should have said something.

Moving on to events this week, I am actually out of town now on a trip with friends. So no news this week either.
Hopefully by my return I can be greeted with some good news

Stay put OctoBros, this but the beginning

[frameLAlife]

Hi pals thought Id drop by for an update,

I apologize for not having released any news last week, which to some may have given the impression of me abandoning this community.
However, it was simply done due to lack of content, and in hindsight I probably should have said something.

Moving on to events this week, I am actually out of town now on a trip with friends. So no news this week either.
Hopefully by my return I can be greeted with some good news

Stay put OctoBros, this but the beginning

My faith in you has never swayed! HB Soon

[peterw]

We’ve invested various amounts of time, energy and money into Octocoin, based on claims from the developers.

It’s been eleven days since we were told the first app was expected to be released, and no app has been launched, and no news has come from the devs.

Must they tell us why nothing’s been released? No. No one can make them.

But I think the developers have a moral obligation to be more upfront about what’s going on.

[neleonele]

We’ve invested various amounts of time, energy and money into Octocoin, based on claims from the developers.

It’s been eleven days since we were told the first app was expected to be released, and no app has been launched, and no news has come from the devs.

Must they tell us why nothing’s been released? No. No one can make them.

But I think the developers have a moral obligation to be more upfront about what’s going on.

 

[syncsam]

Bholzer has links to the team, any chance you could get a msg to them and ask for a quick update, just so we know whats going on

[djslick]

yeah, it's closing in on one month since last contact with the devs.

however.

the end of august for service/product launches has been a long-established goal.

the last update seemed to be an overly optimistic assessment of one particular service, the real promise if you parse through their posts has been end of august, 2 products launched, possibly a third.

however they have been very open as to the beta nature of pregreSQL or whatever that program's called, it's a new version, and their investors might want them to not launch anything like a "beta", even though it could work %100. other posters have said that it looks like the pregreSQL or whatever will be out of beta around september, in which case multiple products or services could be lined up for a simultaneous release

[syncsam]

I know some of you have been hiring equipment to mine octocoin, gaw now sells cloud mining for $16 mh/s http://gawminers.com/pages/hashlet

<edit> I bought one to see what it is like and you can only mine multi pools, can't set you own pool at this stage