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

[edric]

How long will people dump for a price like this?

It's private multipools mining 888 and auto-dumping for BTC - we've been dealing with the same situation for a while with Murraycoin. There is no strategy - they just sell to the top bidders no matter what. If there isn't enough buy support, the price just slowly dwindles down. The good news is that it can recover rapidly as there is virtually zero downward pressure on many of these quality alts. If FusionHash can get their X11 multipools up soon it would quickly reverse the trend. At sub-10 BTC daily volume, you will not see an accurate representation of an altcoin's value. *edit: also realized the block reward drops by over 50% in about a week - this will really cut down on the auto-dumps.

See, if I can ever get my multipool situation off the ground, its things like this I want to avoid. I'm still working on a gameplan but the amount of distractions, detours, and interventions by Murphy's Law have been completely ridiculous.

@Thenotfatguy - Sent you that bounty I owe ya
Sorry it took so long, pumping coins back into my own pool plus having to reformat my mining rig's screwy usb stick every other day is getting tedious!

edit: at least one of my detours involved a close encounter with a female kind.

[joshycoin]

I'm thinking 13 by the end of the week on MintPal... any takers on that? I'll betcha some Octo! 

[frameLAlife]

i think it's doable.

[OctoCoin]

The new OctoCoin Reddit Tip Bot is nearly complete - it was temporarily bumped down the priority list as more resources were needed to collaborate on a key aspect of one of our big projects (which is now nearing completion). We will be releasing a small (optional) update to the OctoCoin client which adds a bit more functionality, fixes a couple of minor bugs (such as issues where the QT client was sometimes closing incorrectly on Windows if it was still open during a reboot/etc), and will be implementing a (beta) stealth addresses feature. Of course, as strong believers in the open source movement, we will be contributing a number of the bug fixes and minor enhancements to Bitcoin Core (obviously, the vast majority of the OctoCoin code is a direct result of their effort and it's only fair to give back). The stealth addresses feature will add additional anonymity to OctoCoin and we should be the first coin to include this technology in our official client (although I'm sure it will be "borrowed" by a number of other coins shortly after we release the source - we're debating a binary-only release for the first 30 days).

Finally, we have been given the green light to provide a teaser for one of our upcoming projects: OctoBank (working title). OctoBank will fill a variety of voids which include paying interest on deposited 888, providing economical escrow services, an Android app (and hopefully an iOS app although we haven't broken ground on it yet), and, in the near future, a debit card which allows you to take out cash in your local currency at a variety of ATMs (countries/currencies TBA). While we originally intended to act as a 2-way exchange as well, we ran into a number of hurdles with USD restrictions and banking regulations (paperwork has been filed but the wheels are moving slowly!) but the features we've listed here will all be launch features and will absolutely include US ATMs (we will just be working with a 3rd party bank to facilitate the transactions initially). Obviously, we aren't currently at a volume where this service seems to make a lot of sense but I can assure you we will get there before you know it. Based on our release schedule, OctoBank (can't stress enough that this is just our working title - can you tell I hate it?) should be the 3rd major OctoCoin-exclusive service we launch (while the two before it will, unfortunately, remain shrouded in secrecy for the time-being).

We targeted Q3 2014 for the release of our first 3 major services and, well... we're now in Q3. The pressure is high but things are progressing well. As somebody who knows where we're at, understands what remains, and also must consider the additional management of services as they are released... I think it would be prudent to lower expectations to 2 services released in Q3 - if we can beat that, it's just icing on the cake. It's important to stay on top of the less-complex tasks as well such as ensuring the OctoCoin Core remains solid and technologically advanced and our marketing strategy is put into effect as well. There is an important balance here and I'm confident we can reach that balance.

I want to close by once again thanking our awesome community - you are all OctoWorthy.

[thenotfatguy]

The new OctoCoin Reddit Tip Bot is nearly complete - it was temporarily bumped down the priority list as more resources were needed to collaborate on a key aspect of one of our big projects (which is now nearing completion). We will be releasing a small (optional) update to the OctoCoin client which adds a bit more functionality, fixes a couple of minor bugs (such as issues where the QT client was sometimes closing incorrectly on Windows if it was still open during a reboot/etc), and will be implementing a (beta) stealth addresses feature. Of course, as strong believers in the open source movement, we will be contributing a number of the bug fixes and minor enhancements to Bitcoin Core (obviously, the vast majority of the OctoCoin code is a direct result of their effort and it's only fair to give back). The stealth addresses feature will add additional anonymity to OctoCoin and we should be the first coin to include this technology in our official client (although I'm sure it will be "borrowed" by a number of other coins shortly after we release the source - we're debating a binary-only release for the first 30 days).

Finally, we have been given the green light to provide a teaser for one of our upcoming projects: OctoBank (working title). OctoBank will fill a variety of voids which include paying interest on deposited 888, providing economical escrow services, an Android app (and hopefully an iOS app although we haven't broken ground on it yet), and, in the near future, a debit card which allows you to take out cash in your local currency at a variety of ATMs (countries/currencies TBA). While we originally intended to act as a 2-way exchange as well, we ran into a number of hurdles with USD restrictions and banking regulations (paperwork has been filed but the wheels are moving slowly!) but the features we've listed here will all be launch features and will absolutely include US ATMs (we will just be working with a 3rd party bank to facilitate the transactions initially). Obviously, we aren't currently at a volume where this service seems to make a lot of sense but I can assure you we will get there before you know it. Based on our release schedule, OctoBank (can't stress enough that this is just our working title - can you tell I hate it?) should be the 3rd major OctoCoin-exclusive service we launch (while the two before it will, unfortunately, remain shrouded in secrecy for the time-being).

We targeted Q3 2014 for the release of our first 3 major services and, well... we're now in Q3. The pressure is high but things are progressing well. As somebody who knows where we're at, understands what remains, and also must consider the additional management of services as they are released... I think it would be prudent to lower expectations to 2 services released in Q3 - if we can beat that, it's just icing on the cake. It's important to stay on top of the less-complex tasks as well such as ensuring the OctoCoin Core remains solid and technologically advanced and our marketing strategy is put into effect as well. There is an important balance here and I'm confident we can reach that balance.

I want to close by once again thanking our awesome community - you are all OctoWorthy.

+888, I'm reading this with the largest grin on my face

I was going to mention the other day, that the tip bot is still down but didn't get around to it ^{No giveaways just yet}

I really want to commend the team on your efforts and continued dedication on this project. Great job people. Now thats OctoWorthy

[djslick]

HOLY SHITSNACKS

http://youtu.be/k0UNxlTYADI

i'm having heart palpitations, the bank is amazing, sounds well vetted even if the gears move slowly in the fiat world...

BUT............................

the ANON feature!? you've got to be kidding me. first to anon? you guys saw what happened to DRK right? and they still haven't delivered... omg, i have to lie down, feeling dizzy.

just saying, i've always believed in this coin, but having it start to come around is a nice feeling, a nice feeling *eyes roll into back of head* indeed. if you could bottle this buzz you'd make a killing. well, not as much as i'm going to make as an octo-holder, but you know... a couple mil at least =p

just tell me that at some point in the future, us early adopters can treat team octo to a drink in macau, or at least make your donation address available

[frameLAlife]

The new OctoCoin Reddit Tip Bot is nearly complete - it was temporarily bumped down the priority list as more resources were needed to collaborate on a key aspect of one of our big projects (which is now nearing completion). We will be releasing a small (optional) update to the OctoCoin client which adds a bit more functionality, fixes a couple of minor bugs (such as issues where the QT client was sometimes closing incorrectly on Windows if it was still open during a reboot/etc), and will be implementing a (beta) stealth addresses feature. Of course, as strong believers in the open source movement, we will be contributing a number of the bug fixes and minor enhancements to Bitcoin Core (obviously, the vast majority of the OctoCoin code is a direct result of their effort and it's only fair to give back). The stealth addresses feature will add additional anonymity to OctoCoin and we should be the first coin to include this technology in our official client (although I'm sure it will be "borrowed" by a number of other coins shortly after we release the source - we're debating a binary-only release for the first 30 days).

Finally, we have been given the green light to provide a teaser for one of our upcoming projects: OctoBank (working title). OctoBank will fill a variety of voids which include paying interest on deposited 888, providing economical escrow services, an Android app (and hopefully an iOS app although we haven't broken ground on it yet), and, in the near future, a debit card which allows you to take out cash in your local currency at a variety of ATMs (countries/currencies TBA). While we originally intended to act as a 2-way exchange as well, we ran into a number of hurdles with USD restrictions and banking regulations (paperwork has been filed but the wheels are moving slowly!) but the features we've listed here will all be launch features and will absolutely include US ATMs (we will just be working with a 3rd party bank to facilitate the transactions initially). Obviously, we aren't currently at a volume where this service seems to make a lot of sense but I can assure you we will get there before you know it. Based on our release schedule, OctoBank (can't stress enough that this is just our working title - can you tell I hate it?) should be the 3rd major OctoCoin-exclusive service we launch (while the two before it will, unfortunately, remain shrouded in secrecy for the time-being).

We targeted Q3 2014 for the release of our first 3 major services and, well... we're now in Q3. The pressure is high but things are progressing well. As somebody who knows where we're at, understands what remains, and also must consider the additional management of services as they are released... I think it would be prudent to lower expectations to 2 services released in Q3 - if we can beat that, it's just icing on the cake. It's important to stay on top of the less-complex tasks as well such as ensuring the OctoCoin Core remains solid and technologically advanced and our marketing strategy is put into effect as well. There is an important balance here and I'm confident we can reach that balance.

I want to close by once again thanking our awesome community - you are all OctoWorthy.

anon feature is def exciting. i have always loved anoncoin and darkcoin so the fact that octo is taking a step in this direction is a +888 to me!

OctoBank hmmmmmm i cannot wait to see this. i think it's also smart because it will entice holders of Octo to hold and earn interest with at least a portion of their coins instead of dumping.

both of these are huge so i cannot imagine what the two secret apps are.

keep up the good work devs... i think you are getting the community excited and it's only a matter of time before the word gets out and starts to excite others.

[GWCalvert]

The new OctoCoin Reddit Tip Bot is nearly complete - it was temporarily bumped down the priority list as more resources were needed to collaborate on a key aspect of one of our big projects (which is now nearing completion). We will be releasing a small (optional) update to the OctoCoin client which adds a bit more functionality, fixes a couple of minor bugs (such as issues where the QT client was sometimes closing incorrectly on Windows if it was still open during a reboot/etc), and will be implementing a (beta) stealth addresses feature. Of course, as strong believers in the open source movement, we will be contributing a number of the bug fixes and minor enhancements to Bitcoin Core (obviously, the vast majority of the OctoCoin code is a direct result of their effort and it's only fair to give back). The stealth addresses feature will add additional anonymity to OctoCoin and we should be the first coin to include this technology in our official client (although I'm sure it will be "borrowed" by a number of other coins shortly after we release the source - we're debating a binary-only release for the first 30 days).

Finally, we have been given the green light to provide a teaser for one of our upcoming projects: OctoBank (working title). OctoBank will fill a variety of voids which include paying interest on deposited 888, providing economical escrow services, an Android app (and hopefully an iOS app although we haven't broken ground on it yet), and, in the near future, a debit card which allows you to take out cash in your local currency at a variety of ATMs (countries/currencies TBA). While we originally intended to act as a 2-way exchange as well, we ran into a number of hurdles with USD restrictions and banking regulations (paperwork has been filed but the wheels are moving slowly!) but the features we've listed here will all be launch features and will absolutely include US ATMs (we will just be working with a 3rd party bank to facilitate the transactions initially). Obviously, we aren't currently at a volume where this service seems to make a lot of sense but I can assure you we will get there before you know it. Based on our release schedule, OctoBank (can't stress enough that this is just our working title - can you tell I hate it?) should be the 3rd major OctoCoin-exclusive service we launch (while the two before it will, unfortunately, remain shrouded in secrecy for the time-being).

We targeted Q3 2014 for the release of our first 3 major services and, well... we're now in Q3. The pressure is high but things are progressing well. As somebody who knows where we're at, understands what remains, and also must consider the additional management of services as they are released... I think it would be prudent to lower expectations to 2 services released in Q3 - if we can beat that, it's just icing on the cake. It's important to stay on top of the less-complex tasks as well such as ensuring the OctoCoin Core remains solid and technologically advanced and our marketing strategy is put into effect as well. There is an important balance here and I'm confident we can reach that balance.

I want to close by once again thanking our awesome community - you are all OctoWorthy.

I am very seldom at a loss for words... but... WOW! Anxiously awaiting the new services!

I was going to write something about my wife, raging, no blue pill tonight, etc. It would have been humorous, but I think I will keep the bedroom talk to a minimum, for now.  Besides, she may come on here and read about herself and then I would be in the doghouse... (even though we do not have any dogs, she would find one for me) 

Awesome work Team Octo!

My little test miner isn't much, but I think he's going back to work mining OctoCoin tonight!

[GWCalvert]

I had an good promo idea for later, when Octocoin is bigger than now.
Cause Octo has to do with gambling, maybe we could sponsor 1-2 good (and maybe famous) Pokerplayers to the WSOP.
This would be a great story i think.

All in all, maybe someone could make a Octocoin Poker logo, so i'll print them on shirts and give them to some of my friends.
Living only a few kilometers away from Europe's biggest pokerroom, so maybe they'll wear it while they're playing there.  

I know a few poker pros that are in Vegas playing, right now. Kind of hard to get in touch with them, at the moment... But, there is always next year!

If someone does make a logo, do not include 888 in it as there is an online 888 poker room and an 888 poker team for live events.

Something green and with the squiddy would be cool. I'm currently tied up with other projects (that pay the bills around here), but I'll see what I can come up with over the next few days if someone else doesn't make something first.

I'll be old enough for the senior's event next year, so everyone could just sponsor me! LOL 

[thenotfatguy]

Hey devs, since you weren't too thrilled about the OctoBank name why not some of these?

-OctoSafe
-OctoVault
-OctoReserve
-OctoCache

[joshycoin]

I'm thinking 13 by the end of the week on MintPal... any takers on that? I'll betcha some Octo! 

Will be hard without payed votes. 

True... but a boy can dream 

[joshycoin]

Hey devs, since you weren't too thrilled about the OctoBank name why not some of these?

-OctoSafe
-OctoVault
-OctoReserve
-OctoCache

OctoMint

[thenotfatguy]

It seems like every dumper is eaten up soon, no hard way to 1500-2000 satoshi  

Looks like you are forgetting a few zeroes

[djslick]

not sure if the octobank is the ideal service for this, but one of them has to be called:

"The Kraken" aka beastly octopus to be reckoned with

or

"Tidal Kraken" aka beastly octopus who's fortunes rise and fall like the tide, akin to winning and losing while gaming, also reflecting trade values of coins. also it's a bitchin MTG card in Duels of the Planeswalkers. don't act like you don't know what i'm talking about.

if you want to go all formal with it, how about:

"squiddy manchester holdings"

or

"tentacle of the orient trust"

or

"that's not ringworm, an octopus made love to me investment group"

or

"magic internet money is for suckers limited" (octopus tentacle sucker pun)

this is fun, how about a new slogan.

"octocoin, get in the black ink" (as opposed to red ink? to be "in the black"? i actually think this one's half clever if you could make it not sound retarded, i know there's a play-on-words with ink out there

---

also, where the hell did this hash come from? 500MH? goodbye fat mining payouts... helloooooo rising tide!

[GWCalvert]

not sure if the octobank is the ideal service for this, but one of them has to be called:

"The Kraken" aka beastly octopus to be reckoned with

or

"Tidal Kraken" aka beastly octopus who's fortunes rise and fall like the tide, akin to winning and losing while gaming, also reflecting trade values of coins. also it's a bitchin MTG card in Duels of the Planeswalkers. don't act like you don't know what i'm talking about.

if you want to go all formal with it, how about:

"squiddy manchester holdings"

or

"tentacle of the orient trust"

or

"that's not ringworm, an octopus made love to me investment group"

or

"magic internet money is for suckers limited" (octopus tentacle sucker pun)

this is fun, how about a new slogan.

"octocoin, get in the black ink" (as opposed to red ink? to be "in the black"? i actually think this one's half clever if you could make it not sound retarded, i know there's a play-on-words with ink out there

---

also, where the hell did this hash come from? 500MH? goodbye fat mining payouts... helloooooo rising tide!

Yep, some dude put a 250 Mh/s rig up on Fusion and my nice little payouts every couple of hours, now are coming every three or four hours, although more blocks are being found. My little gridseeds don't stand a chance... Looking around for some (cheap) rent-a-miners for the weekend.

188 blocks are coming to an end... real soon! Less than 5K left!

[joshycoin]

not sure if the octobank is the ideal service for this, but one of them has to be called:

"The Kraken" aka beastly octopus to be reckoned with

or

"Tidal Kraken" aka beastly octopus who's fortunes rise and fall like the tide, akin to winning and losing while gaming, also reflecting trade values of coins. also it's a bitchin MTG card in Duels of the Planeswalkers. don't act like you don't know what i'm talking about.

if you want to go all formal with it, how about:

"squiddy manchester holdings"

or

"tentacle of the orient trust"

or

"that's not ringworm, an octopus made love to me investment group"

or

"magic internet money is for suckers limited" (octopus tentacle sucker pun)

this is fun, how about a new slogan.

"octocoin, get in the black ink" (as opposed to red ink? to be "in the black"? i actually think this one's half clever if you could make it not sound retarded, i know there's a play-on-words with ink out there

---

also, where the hell did this hash come from? 500MH? goodbye fat mining payouts... helloooooo rising tide!

Yep, some dude put a 250 Mh/s rig up on Fusion and my nice little payouts every couple of hours, now are coming every three or four hours, although more blocks are being found. My little gridseeds don't stand a chance... Looking around for some (cheap) rent-a-miners for the weekend.

188 blocks are coming to an end... real soon! Less than 5K left!

Yeah... makes me happy and sad all at the same time. I am about to put in an order for a 60 MH/s scrypt miner so I can keep getting those Octo's.

[joshycoin]

See ya MtGoxCoin!

[frameLAlife]

Monero bought to place 14 with 8 BTC. Uhhh...

hahahaha holy shiz.... that's hilarious. let em spend all their btc.... we do just fine with very little buys.

[Chase]

The new OctoCoin Reddit Tip Bot is nearly complete - it was temporarily bumped down the priority list as more resources were needed to collaborate on a key aspect of one of our big projects (which is now nearing completion). We will be releasing a small (optional) update to the OctoCoin client which adds a bit more functionality, fixes a couple of minor bugs (such as issues where the QT client was sometimes closing incorrectly on Windows if it was still open during a reboot/etc), and will be implementing a (beta) stealth addresses feature. Of course, as strong believers in the open source movement, we will be contributing a number of the bug fixes and minor enhancements to Bitcoin Core (obviously, the vast majority of the OctoCoin code is a direct result of their effort and it's only fair to give back). The stealth addresses feature will add additional anonymity to OctoCoin and we should be the first coin to include this technology in our official client (although I'm sure it will be "borrowed" by a number of other coins shortly after we release the source - we're debating a binary-only release for the first 30 days).

Finally, we have been given the green light to provide a teaser for one of our upcoming projects: OctoBank (working title). OctoBank will fill a variety of voids which include paying interest on deposited 888, providing economical escrow services, an Android app (and hopefully an iOS app although we haven't broken ground on it yet), and, in the near future, a debit card which allows you to take out cash in your local currency at a variety of ATMs (countries/currencies TBA). While we originally intended to act as a 2-way exchange as well, we ran into a number of hurdles with USD restrictions and banking regulations (paperwork has been filed but the wheels are moving slowly!) but the features we've listed here will all be launch features and will absolutely include US ATMs (we will just be working with a 3rd party bank to facilitate the transactions initially). Obviously, we aren't currently at a volume where this service seems to make a lot of sense but I can assure you we will get there before you know it. Based on our release schedule, OctoBank (can't stress enough that this is just our working title - can you tell I hate it?) should be the 3rd major OctoCoin-exclusive service we launch (while the two before it will, unfortunately, remain shrouded in secrecy for the time-being).

We targeted Q3 2014 for the release of our first 3 major services and, well... we're now in Q3. The pressure is high but things are progressing well. As somebody who knows where we're at, understands what remains, and also must consider the additional management of services as they are released... I think it would be prudent to lower expectations to 2 services released in Q3 - if we can beat that, it's just icing on the cake. It's important to stay on top of the less-complex tasks as well such as ensuring the OctoCoin Core remains solid and technologically advanced and our marketing strategy is put into effect as well. There is an important balance here and I'm confident we can reach that balance.

I want to close by once again thanking our awesome community - you are all OctoWorthy.

anon feature is def exciting. i have always loved anoncoin and darkcoin so the fact that octo is taking a step in this direction is a +888 to me!

OctoBank hmmmmmm i cannot wait to see this. i think it's also smart because it will entice holders of Octo to hold and earn interest with at least a portion of their coins instead of dumping.

both of these are huge so i cannot imagine what the two secret apps are.

keep up the good work devs... i think you are getting the community excited and it's only a matter of time before the word gets out and starts to excite others.

Thanks for keeping Crypto Moms updated on Octocoin. There are at least two new holders of Octocoin that I know of and I'm sure there will be more to follow.  This is a very nice community and a good example for others to follow.

[GWCalvert]

Just a question. What's Q3 in your country?  
Because in germany we ware still in Q2, so this confuses me a bit.  

Q3, technically, begins in July in the US. Some corporations will have different quarter dates depending on how their fiscal years are structured.