[ANN][SPT] - Spots - Cryptsy | Fork 9/19 | Scrypt | Introducing Reward Reduction

[Desten]

Someone sold 110k to himself (i'm sure for 98%) at 400 satoshis. There are not so much mined coins so this trader tried to show others that there will be a big fall. But no. Spots mined not so much to fast dump now.
But now i see (last weeks) not so much traders in this coin. Hm. Interesting. But price is near zero. Why multipools jumping to spots? Price is very very low to mine... This can be possible only because difficulty is too low. This means that spots mined by very few people. They have some profit from mining them. But price is really near zero. I did some calculations early when i described step by step why i think the price for this coin is almost nothing.
Coin can jump x100-150+ times at current price - but it needs some good PR everywhere. And new miners of course to drive up difficuty and new good things like raffle to win some silver/gold etc. Maybe some shops to trade something useful with spots - computer hardware for example, or everything that can be delivered almost everywhere and can be useful and small enough for shipment... and so on.

[AmericanComputerNerd]

Someone sold 110k to himself (i'm sure for 98%) at 400 satoshis. There are not so much mined coins so this trader tried to show others that there will be a big fall. But no. Spots mined not so much to fast dump now.
But now i see (last weeks) not so much traders in this coin. Hm. Interesting. But price is near zero. Why multipools jumping to spots? Price is very very low to mine... This can be possible only because difficulty is too low. This means that spots mined by very few people. They have some profit from mining them. But price is really near zero. I did some calculations early when i described step by step why i think the price for this coin is almost nothing.
Coin can jump x100-150+ times at current price - but it needs some good PR everywhere. And new miners of course to drive up difficuty and new good things like raffle to win some silver/gold etc. Maybe some shops to trade something useful with spots - computer hardware for example, or everything that can be delivered almost everywhere and can be useful and small enough for shipment... and so on.

The Scrypt-N multipools are jumping into Spots when we are more profitable than the other Scrypt-N coins (Vertcoin, Execoin, etc...)  It has very little to do with our actual price, but more how we compare to the competition in our algo.  When our price rises without the difficulty increasing, it gives them an opportunity to strike for a quick profit.  It's just the marketplace now-a-days...

As far as other promotions, and stores, I'd be happy to promote any store that wants to trade exclusively in Spots.  I'll link from theSPT.com and tweet about it.

I saw that trade for 100k on Cryptsy and didn't think anything of it.  Some bag holder saw an opportunity to sell off some coins at a stable price.  How do you know they were selling to themselves to send a message?

[Desten]

I have logging of all trades for all coins, some algorithms, some research and "watching"...  some information...
Few days ago some trader(s) dumped by little packs of coins then bigger packs to dump and provoke panic-sell. Partially it worked, but this trader(s) sold some of their coins to so-called "enemy's" then bought some what was autosold, then placed dumping medium-size orders to dump (little higher than real prices), some of trader(s) saw risk and sold some, then some time later there are some movements that showed that buyer(s) start losing patience and when saw good volume with low price - bought it, then some time later they started to drive up to sell-off some to return investments and to rebought little more and marked few sell-off points. Biggest point for now that we can see was 500 and 600. Now it's 600, 500 was partially a fake (self-bought later). It's almost twice than trader(s) bought but if someone grab 600 and make some walls at 500+ then price will climb higher in close period of time even without PR.

PS: in mean of volumes in doge (3-5 weeks ago) this order(s) at 600 is nothing Because buy orders at doge was 40-80 btc's worth. At spots there are only 0.389 btc's at 600. It's nothing compared to some other coins... With that volumes in sell part there are no need in big investments to drive up fast and hold there. Better this would be if coin can attract more miners. Much more - much higher price.

[AmericanComputerNerd]

Definitely an interesting analysis of the marketplace.

[MrData]

I'll be giving away a $25 Amazon Gift Card from my store as a Spots' birthday raffle. Tickets are only 500 SPT and the raffle will be open through July 21st, 2014.

To buy tickets simply click here: http://www.crypto2.net/raffle.html

Raffle Transparency:
I'll be using the list randomizer at random.org to pick the winner with this process:
1. At the end of the day July 21st I'll post the list of CoinPayments transaction IDs of the entries on pastebin. If you purchased more than 1 ticket during checkout your transaction ID will be in the list once for each ticket.
2. On http://www.random.org/lists/?mode=advanced you will see the pregenerated randomization from previous dates. When the randomness for 2014-07-23 is posted I will copy/paste the transaction ID list in and use the 2014-07-23 randomness. [I picked 2014-07-23 since I don't know what time random.org posts their data and I didn't want 2014-07-22 to have already been posted.]
3. The 1st transaction ID in the randomized list will be the winner and I will contact them via email.

Using this process will make sure that the raffle can't be rigged and will be 100% random. Using the pregenerated data will make it so anyone can copy/paste the list in from pastebin to verify I haven't tampered with the results.

[AmericanComputerNerd]

I'll be giving away a $25 Amazon Gift Card from my store as a Spots' birthday raffle. Tickets are only 500 SPT and the raffle will be open through July 21st, 2014.

To buy tickets simply click here: http://www.crypto2.net/raffle.html

Raffle Transparency:
I'll be using the list randomizer at random.org to pick the winner with this process:
1. At the end of the day July 21st I'll post the list of CoinPayments transaction IDs of the entries on pastebin. If you purchased more than 1 ticket during checkout your transaction ID will be in the list once for each ticket.
2. On http://www.random.org/lists/?mode=advanced you will see the pregenerated randomization from previous dates. When the randomness for 2014-07-23 is posted I will copy/paste the transaction ID list in and use the 2014-07-23 randomness. [I picked 2014-07-23 since I don't know what time random.org posts their data and I didn't want 2014-07-22 to have already been posted.]
3. The 1st transaction ID in the randomized list will be the winner and I will contact them via email.

Using this process will make sure that the raffle can't be rigged and will be 100% random. Using the pregenerated data will make it so anyone can copy/paste the list in from pastebin to verify I haven't tampered with the results.

Thanks for going out of your way to ensure transparency, MrData.  I'll follow these same guidelines.  They seem very straightforward and well planned!

[AmericanComputerNerd]

July 21, 2013 - The Spots genesis block was launched.

This July Spots will be turning 1 year old!  This is a great achievement and something to be celebrated.

Spots Birthday Month Celebrations:

Every Friday in July, we will hold a drawing for a 1 gram bar of silver.
-- Raffle tickets will be sold for 50 SPT with a winner chosen at random.
-- Please reference the below schedule:

  Saturday 6/28 - Friday 7/4 --> Drawing Friday 7/4
  Saturday 7/5 - Friday 7/11 --> Drawing Friday 7/11
  Saturday 7/12 - Friday 7/18 --> Drawing Friday 7/18
  Saturday 7/19 - Friday 7/25 --> Drawing Friday 7/25
  Saturday 7/26 - Friday 8/1 --> Drawing Friday 8/1

* The 50 SPT buy-in is based on current market prices and is subject to change.  Once the first raffle ticket is sold for the week, the price will be locked in for that specific drawing.  At the discretion of AmericanComputerNerd, multiple drawings may occur in a single week based on raffle ticket volume.
  

Miners, save your Spots!  Traders, buy now while the price is low...  July is going to be a huge month.  These drawings are just the beginning!!!

RAFFLE SALES ARE ONLINE NOW!  http://www.theSPT.com/exchange

Click on the CoinPayments.net button below the nerd holding the ticket!  I'll post regular updates on tickets sold here on the forums.

Here is the update for Sunday evening...

- Our trade high today was 600, which is a new a 7-day record!  The raffles are generating attention and demand, so hopefully this continues to climb.

- Raffle sales slowed down a little over the weekend.  We are still at 11 tickets for the July 4th 1 gram silver bar raffle.  I'm sure this will pick up as we get closer to the drawing date.  I'll be doing the drawing at 8pm EST on July 4th, which is midnight GMT.

-  Trade prices are continuing to rise!  Buy your raffle ticket NOW to lock in today's price!

[Desten]

So, as i said previously, first real target is 600. Few hour ago we reached this point... As i can see there was a try to sell-off some and provoke others to enter the rally. For that moment i didn't see enough traders to actively support it, but situation is much more promising than before. And because we now see @600 an order that huge enough (about 4.4% of all mined coins for the moment!) and the price is only 1.36B... Trader(s) want to sell some (if only little part from that order(s) then they don't want much more investments than now and want to release some money to return it to buy support) or maybe all of this order(s) (then they have much more than this in reserve). And few buy supports (just 2 to 5 peoples [bots + man or two] for the moment). Both of that (sell or buy) is good for that peoples - if they sell some at high then they will add support to make it harder, or if they bought some at low then they will add to reserve for a better time. As i see this investments (that already made) are mostly nothing for them so they are not in panic mode. All this says to me that we will see good rise some time later there.
PS: my birthday is 21st of july too )) that's why i interested in history of development of spots and their destiny )) if you don't believe i can shoot my passport or L/D.

[AmericanComputerNerd]

That's a cool coincidence that you share a birthday with the Spots blockchain.  I was excited to see us hit 600.  The past few days have been exciting, really.

If a little birthday celebration and a few raffles can cause this much attention and trade volume, it makes me wonder what would happen if I put together a budget and ran an ad campaign to pull in new users interested in Crypto to Precious Metals hobbyists.  Facebook Ads & Google make it pretty simple to get started.

[AmericanComputerNerd]

Here's the update for Monday evening.

- Trade has settled down after yesterday's high.  Today's high was 464 satoshi, and currently trading at 325 satoshi.  Now is a great time to buy low!

- A handful of raffle tickets were sold today for the 7/4 auction.  We now have 20 raffle tickets in circulation.  Remember, if we break 50 tickets I'll be doing two raffles this week.

Happy Trading!!!

[kingscrown]

the coin will be listed in upcoming monthly report of what to mine or invest in on http://fuk.io
there is 1300+ people that subsribed to the blogs newsletter - if you didnt yet, its good time to join!

[AmericanComputerNerd]

the coin will be listed in upcoming monthly report of what to mine or invest in on http://fuk.io
there is 1300+ people that subsribed to the blogs newsletter - if you didnt yet, its good time to join!

Thank you for the attention, and taking the time to write about Spots!!!  This is exciting!

Community - If you are planning on getting in the raffles, I'd suggest buying up the SPT now before the article comes out.  This may be your last chance to get undervalued SPT!

[AmericanComputerNerd]

Tonight's update:

- We sold 1 7/4 raffle ticket today.  We're now sitting at 21 total.

- As far as trade price, we've seen some big volume buy / sell orders which are making the price jump all over the place.  As the coin grows, and demand becomes steadier, these fluctuations from larger buy / sell orders won't be as impactful.

- In the above posts you'll see that Spots is being featured in the Financial Underground Kingdom's (http://fuk.io/) July list of coins that are hot to mine / invest in.  The article should be posted soon, subscribe to see it first!

[AmericanComputerNerd]

Actually, the Financial Underground Kingdom's article posted this evening.  Not as informative as I would have hoped for (no mention of silver / gift card exchanges, birthday raffles, etc...), but it helps get the word out!

[kingscrown]

THE COIN HAS BEEN ADDED TO MY JULY REPORT

added to my blogs monthly report of what coins are good to enter and follow - http://fuk.io/july-2014-report-what-coins-to-mine-and-invest-in-right-now/

sent to all 1300 email subscribers. lets hope this helps a bit the community and this decent crypto.

KC.

[kingscrown]

Actually, the Financial Underground Kingdom's article posted this evening.  Not as informative as I would have hoped for (no mention of silver / gift card exchanges, birthday raffles, etc...), but it helps get the word out!

added raffles now

[AmericanComputerNerd]

Actually, the Financial Underground Kingdom's article posted this evening.  Not as informative as I would have hoped for (no mention of silver / gift card exchanges, birthday raffles, etc...), but it helps get the word out!

added raffles now

That is great, thanks for adding that detail.   

[estmoon]

Some do not understand, I slowly have a look 

[AmericanComputerNerd]

Some do not understand, I slowly have a look 

I'd be happy to provide more details if you have specific questions. The coin is designed to promote and faciliate trade for silver, and now gift cards.

[nuttynoah]

I've changed the logo to highlight silver as well as gold.
What does everyone think?