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

[th0ms0n]

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.

I agree.

The developers are treating this great community like crap.

they are not, some day you'll understand.. just relax

[karkkis]

Agreed.

Let's not start to sound like a bunch of whining kids! 

Part of the parcel and appeal of Octocoin are the mysterious devs, who disappear and re-appear at strange intervalls...

[octoman]

So still no sign of the bearded ladies?

[frameLAlife]

I just ate lunch and i'm about stuffed as an octopus.

[joshycoin]

People hear what they want to hear... Including myself. Everyone is hung up on the August 1st thing. I was too until Frame reminded me (and showed me the old post) that August first was a hope of theirs. The REAL time table for the App(s) was the end of August. So... having said that... this "lack of news" since they "didn't deliver on the 1st" doesn't actually exist. Now, I have said 1,000 times, "Why can't they just pop in real quick and give us a small update?". Work just ended for me for the day but I am making time to post this, so why can't they? However, I think everyone is getting overly excited over a misread.

My point is this: Be patient, it will happen. Bholzer gave us some news and he hasn't proven to be untrustworthy, so we just need to be happy with that. Until then, lets smile and count our coins like Scrooge McDuck. If August comes and goes without at least a small update... THEN we can riot lol jk (sort of).

[octoman]

People hear what they want to hear... Including myself. Everyone is hung up on the August 1st thing. I was too until Frame reminded me (and showed me the old post) that August first was a hope of theirs. The REAL time table for the App(s) was the end of August. So... having said that... this "lack of news" since they "didn't deliver on the 1st" doesn't actually exist. Now, I have said 1,000 times, "Why can't they just pop in real quick and give us a small update?". Work just ended for me for the day but I am making time to post this, so why can't they? However, I think everyone is getting overly excited over a misread.

My point is this: Be patient, it will happen. Bholzer gave us some news and he hasn't proven to be untrustworthy, so we just need to be happy with that. Until then, lets smile and count our coins like Scrooge McDuck. If August comes and goes without at least a small update... THEN we can riot lol jk (sort of).

I say NAIL THEM UP!! NAIL SOME SENSE INTO THEM!!

[BeardedCouncil]

We have a couple of pictures of our last prototype glass before we start taking orders. It's 3am here and I need to sleep now but I'll update tomorrow.

[crunner]

I have no knowledge of the status of any of the initiatives hinted at by the developers in previous posts, but it's not useful to accuse them of treating the Octo community badly simply because they're not posting updates.

Updates - even short ones - move the market. Up, down, sideways, whatever. Complaining that the developers are somehow demonstrating insufficient respect for the community is roughly akin to demanding inside information from a company you hold stock in and complaining when they refuse. There's a reason it's illegal for company executives to trade on the knowledge of what's going on inside their organization - they could fleece shareholders. In the 'real' world the release of information that could affect the value of a publicly held security is highly regulated. NO such regulations exist in the crypto-currency world. That's why pump and dump schemes flourish - anybody can say anything they want.

There is no way the Octo developers are unaware of the rising levels of dismay being expressed on this forum/thread. They know. They are actively choosing to remain silent. You could take it as a sign of disrespect, but it's just as likely - possibly more so - that it's a sign of control and maturity.  Maybe, as I said in an earlier post, they want to improve their holdings before making an announcement they expect to affect the price. Maybe the projects aren't ready. Maybe there's a relationship with an exchange, financial institution, or other partner that is still being negotiated. I don't know.

It's possible, of course, that they've decided to abandon Octocoin for some reason. But I imagine we'd see some evidence of that in the market. I don't. I'm no expert, but there just doesn't seem to be the volume to support that.

Whatever their next move is, we don't need it quick. We need it right.

[shellbunner]

There is no way the Octo developers are unaware of the rising levels of dismay being expressed on this forum/thread. They know. They are actively choosing to remain silent. You could take it as a sign of disrespect, but it's just as likely - possibly more so - that it's a sign of control and maturity.  
Whatever their next move is, we don't need it quick. We need it right.

+888

Stocked up on a fat chunk of Octo and patiently waiting for an update.

[syncsam]

Text removed to keep post short

...You could take it as a sign of disrespect, but it's just as likely - possibly more so - that it's a sign of control and maturity...  

Would have to 100% disagree with you on this point,  not coming out with a revised timeframe is not a show of control or maturity, its a show of lack of professionalism, take any business IRL if they come out with an update saying a date and then not showing for weeks after that date, I very much doubt they would keep many customers.  And yes I said customers not investors, we are not the investors in this project, they have proper investors

<edit> and I think all a majority of people want is a revised estimate, not the plans to their secret lair in a hollowed out volcano

[octoman]

There's a reason it's illegal for company executives to trade on the knowledge of what's going on inside their organization - they could fleece shareholders. In the 'real' world the release of information that could affect the value of a publicly held security is highly regulated. NO such regulations exist in the crypto-currency world.

I agree with syncsam.

Also Crypto-currency is a new industry and at present only growing due to the release of information. until it becomes an established industry without information the customers (us) will slowly think of moving to a product (coin) where we have confidence that work is being done to promote it and move it forward - by being given information and being transparent.

Without us there is no demand for the coin, and it doesn't matter what the dev's have done, no one will invest in a coin that has no demand.

If this was an organisation with a product they would want to keep it in the lime light and keep releasing teasers (without giving away their stategies), to keep everyone interested and expecting. Look at any product iphone, galaxy tab et c. ALL bring it to the publics eye before it is even close to release just so they know it's there and about to come.

No one has asked for anything even close to insider trading - just a quick acknowledgement that the Devs are there and haven't abandoned us.
As it has already been said it's unprofessional of them not to respond.

People keep saying wait and see but they have as much information as the rest of us - so they are just hoping and wishing.
One guy has been on a conference calls and heard the dev's and relayed information but unless it comes from them directly it's all just rumours and rumours are not facts.
Anyone can make up rumours. Is this just a rumour?
Then again he hasn't told us anything new except "wait and see".

[crunner]

Text removed to keep post short

...You could take it as a sign of disrespect, but it's just as likely - possibly more so - that it's a sign of control and maturity...  

Would have to 100% disagree with you on this point,  not coming out with a revised timeframe is not a show of control or maturity, its a show of lack of professionalism, take any business IRL if they come out with an update saying a date and then not showing for weeks after that date, I very much doubt they would keep many customers.  And yes I said customers not investors, we are not the investors in this project, they have proper investors

<edit> and I think all a majority of people want is a revised estimate, not the plans to their secret lair in a hollowed out volcano

There's a reason it's illegal for company executives to trade on the knowledge of what's going on inside their organization - they could fleece shareholders. In the 'real' world the release of information that could affect the value of a publicly held security is highly regulated. NO such regulations exist in the crypto-currency world.

I agree with syncsam.

Also Crypto-currency is a new industry and at present only growing due to the release of information. until it becomes an established industry without information the customers (us) will slowly think of moving to a product (coin) where we have confidence that work is being done to promote it and move it forward - by being given information and being transparent.

Without us there is no demand for the coin, and it doesn't matter what the dev's have done, no one will invest in a coin that has no demand.

If this was an organisation with a product they would want to keep it in the lime light and keep releasing teasers (without giving away their stategies), to keep everyone interested and expecting. Look at any product iphone, galaxy tab et c. ALL bring it to the publics eye before it is even close to release just so they know it's there and about to come.

No one has asked for anything even close to insider trading - just a quick acknowledgement that the Devs are there and haven't abandoned us.
As it has already been said it's unprofessional of them not to respond.

People keep saying wait and see but they have as much information as the rest of us - so they are just hoping and wishing.
One guy has been on a conference calls and heard the dev's and relayed information but unless it comes from them directly it's all just rumours and rumours are not facts.
Anyone can make up rumours. Is this just a rumour?
Then again he hasn't told us anything new except "wait and see".

These are reasonable counter-arguments, and there's not a whole lot of activity in the thread right now, so what the hell, I'll hit it back over the net.

The basic idea seems to be that there is some minimal level of communication that should be maintained between developers and the community, because:

1 - That's what companies do to keep their customers happy.
2 - As a new industry crypto-currencies require a regular flow of information to grow.

As a reminder, my basic point was that ANY information has the potential to move the market, which is a reasonable explanation for the silence we're experiencing. Just to be absolutely clear, I'd love to hear from the developers - I'm just not worried about the silence because I see tangible reasons why it could be happening.

Okay, so point #1 above: pretty sure you're an investor, not a customer. You did not purchase your Octo from the developers. You bought a highly-speculative, negotiable instrument traded on an open market. Like dollars. Or Euros. If you have dollars and buy Euros, who's the 'company' you bought them from? The EU? And what's Europe's responsibility for keeping you informed about what they're doing to make sure you're satisfied with your purchase? I'm not saying it's zero, btw. The EU does release information about it's economy and plans to support the value of the Euro. For people who've *invested* in Euros. The Euro isn't a product or service, per se, it's a currency, a medium for the exchange of value. Is there some level of communication necessary to keep market demons from freaking out? Sure. But again, my point wasn't that the developers shouldn't be talking to us. It was that there might be good reasons they're not at the moment.

Point #2: I agree that a lot more information needs to get out there so folks can start getting their heads around this crypto-currency world. If we don't get increased stability and utility and, I don't know, fungibility or some such then it's going to be long, hard slog to see the kind of value increases we're all hoping for. But the flow of 'information' in and of itself, isn't always a good thing. Sometimes it's bad information, as in the complete and utter bullshit anyone who's spent more than a week poking around alt-currencies has experienced. Sometimes it's speculative (e.g. we're hoping to accomplish X by a certain date) and if you miss the date then it has a net negative effect. My reference to insider trading was an attempt to point out that in and around 'real' markets the flow of information to current and potential investors is tightly controlled, because it's potentially dangerous. If you want to solicit angel investors for a venture in the US the kinds of disclaimers you have to attach to your offering documents are full of statements like "forward-seeking statements", "highly-speculative", etc. No such controls exist out here in the alt-currency wild west (one of the reasons many of us like it out here, presumably), so the developers of the various currencies are free to develop their own information strategies for success.

One of them might be to keep quiet until you've got something concrete to say.

You have piqued my curiosity, though: if they did announce a secret lair in a hollowed-out volcano, would that make the price rise? Or fall?

[syncsam]

guarded by octopuses 

[octoman]

Text removed to keep post short

...You could take it as a sign of disrespect, but it's just as likely - possibly more so - that it's a sign of control and maturity...  

Would have to 100% disagree with you on this point,  not coming out with a revised timeframe is not a show of control or maturity, its a show of lack of professionalism, take any business IRL if they come out with an update saying a date and then not showing for weeks after that date, I very much doubt they would keep many customers.  And yes I said customers not investors, we are not the investors in this project, they have proper investors

<edit> and I think all a majority of people want is a revised estimate, not the plans to their secret lair in a hollowed out volcano

There's a reason it's illegal for company executives to trade on the knowledge of what's going on inside their organization - they could fleece shareholders. In the 'real' world the release of information that could affect the value of a publicly held security is highly regulated. NO such regulations exist in the crypto-currency world.

I agree with syncsam.

Also Crypto-currency is a new industry and at present only growing due to the release of information. until it becomes an established industry without information the customers (us) will slowly think of moving to a product (coin) where we have confidence that work is being done to promote it and move it forward - by being given information and being transparent.

Without us there is no demand for the coin, and it doesn't matter what the dev's have done, no one will invest in a coin that has no demand.

If this was an organisation with a product they would want to keep it in the lime light and keep releasing teasers (without giving away their stategies), to keep everyone interested and expecting. Look at any product iphone, galaxy tab et c. ALL bring it to the publics eye before it is even close to release just so they know it's there and about to come.

No one has asked for anything even close to insider trading - just a quick acknowledgement that the Devs are there and haven't abandoned us.
As it has already been said it's unprofessional of them not to respond.

People keep saying wait and see but they have as much information as the rest of us - so they are just hoping and wishing.
One guy has been on a conference calls and heard the dev's and relayed information but unless it comes from them directly it's all just rumours and rumours are not facts.
Anyone can make up rumours. Is this just a rumour?
Then again he hasn't told us anything new except "wait and see".

These are reasonable counter-arguments, and there's not a whole lot of activity in the thread right now, so what the hell, I'll hit it back over the net.

The basic idea seems to be that there is some minimal level of communication that should be maintained between developers and the community, because:

1 - That's what companies do to keep their customers happy.
2 - As a new industry crypto-currencies require a regular flow of information to grow.

As a reminder, my basic point was that ANY information has the potential to move the market, which is a reasonable explanation for the silence we're experiencing. Just to be absolutely clear, I'd love to hear from the developers - I'm just not worried about the silence because I see tangible reasons why it could be happening.

Okay, so point #1 above: pretty sure you're an investor, not a customer. You did not purchase your Octo from the developers. You bought a highly-speculative, negotiable instrument traded on an open market. Like dollars. Or Euros. If you have dollars and buy Euros, who's the 'company' you bought them from? The EU? And what's Europe's responsibility for keeping you informed about what they're doing to make sure you're satisfied with your purchase? I'm not saying it's zero, btw. The EU does release information about it's economy and plans to support the value of the Euro. For people who've *invested* in Euros. The Euro isn't a product or service, per se, it's a currency, a medium for the exchange of value. Is there some level of communication necessary to keep market demons from freaking out? Sure. But again, my point wasn't that the developers shouldn't be talking to us. It was that there might be good reasons they're not at the moment.

Point #2: I agree that a lot more information needs to get out there so folks can start getting their heads around this crypto-currency world. If we don't get increased stability and utility and, I don't know, fungibility or some such then it's going to be long, hard slog to see the kind of value increases we're all hoping for. But the flow of 'information' in and of itself, isn't always a good thing. Sometimes it's bad information, as in the complete and utter bullshit anyone who's spent more than a week poking around alt-currencies has experienced. Sometimes it's speculative (e.g. we're hoping to accomplish X by a certain date) and if you miss the date then it has a net negative effect. My reference to insider trading was an attempt to point out that in and around 'real' markets the flow of information to current and potential investors is tightly controlled, because it's potentially dangerous. If you want to solicit angel investors for a venture in the US the kinds of disclaimers you have to attach to your offering documents are full of statements like "forward-seeking statements", "highly-speculative", etc. No such controls exist out here in the alt-currency wild west (one of the reasons many of us like it out here, presumably), so the developers of the various currencies are free to develop their own information strategies for success.

One of them might be to keep quiet until you've got something concrete to say.

You have piqued my curiosity, though: if they did announce a secret lair in a hollowed-out volcano, would that make the price rise? Or fall?

I'm guessing you aren't from Europe? I'm from the UK - we opted out of the Euro and even then before it was release we heard a hell of a lot about what it is and what the future plans are for it. Even now you can find info on it and it's future plans. They understand they need to keep everyone informed and up to date on how it's doing and where it's going.
That aside - all I'm (and a few others reading their comments) are asking for is just a "hello we're still here - we're still working on our plan" from the dev team at this stage not even any promises. You really think knowing that the dev team haven't done a runner will affect prices? I think it will add stability as everyone will be willing to happily wait.

I think we should all chip in and get a OctoLair as soon as our boat comes in!

[syncsam]

Octolair guarded by 8 octopuses with lasers 

[frameLAlife]

Octolair guarded by 8 octopuses with lasers 

lol

[shellbunner]

So who is the big shot at .00001111 selling 2.5 Million Octo? 

[frameLAlife]

So who is the big shot at .00001111 selling 2.5 Million Octo? 

on Bittrex?

[shellbunner]

So who is the big shot at .00001111 selling 2.5 Million Octo? 

on Bittrex?

Yea open the order book and scroll down a bit and you'll see it.

[BeardedCouncil]

Could it be the illusive Lucjver from fedaykins? He's been renting tons of hashing power (or operates a small farm) so might be looking to secure some of his investment. Even though he's taking around 20,000 a day I'm still not even sure he'd have enough at 2.5 million... Although he could have bought too.  Nice to know it's not you Shellbunner... Now where's Bholzer?

edit: Also, that's very nearly 10% of all of the octo's in the wild... big fish jumping pools...