[ANN] OCTO - Resurrect 888 - New Counterparty Asset

[OCTOPARTY]

Hi, I stumbled by chance on this coin, spend an hour reading a bit of the history and theoctoparty.com and even watched those 2 youtube videos, but I still do not really get the point of the coin.
The user Octoparty seems to be very devoted to the cause and a nice guy, but what exactly makes this coin so special?
I am not trying to offend anyone, but to someone like me just stumbling upon it, it seems like only emotional attachment to the former versions are keeping this (somewhat) alive? What am I missing and why should anyone spend some BTC on this coin and not the hundreds of other alts?

^^ what cabbage said.

Thanks for your interest. At this point if you decide to purchase OCTO its for pure speculation. We were a dead altcoin that conducted a burn and moved to Counterparty. At this point I'm the only person working on OCTO and I'm not even a dev that's why I call myself a project manager. We have not had any interest from any devs that weren't looking to be paid a salary. I have a job and I can only devote a specific amount of time to OCTO and I've done so only receiving donations and zero salary in Bitcoin or OCTO at this point.

However, we do have plans for 2 specific functions that are listed in cabbage's response above. The first one is the one I'm most active in and that is setting up a website that is marketing related and will hopefully generate income for myself and to fund the actual OCTO project. It shouldn't be long as I'm waiting for thegrid.io to launch before I can test their website service to see if it will be functional and also allow some of the token control access like letstalkbitcoin.com.

Once I have this site going hopefully I will generate enough revenue that I can afford to put way more time into OCTO and also pay some developers to begin working on our "working model" of a fantasy sports/fantasy mma website that will allow you to play with whitelisted Counterparty tokens such as FoldingCoin, OCTO, XCP, Storj, Swarm, GEMS & LTBCoin.

The plan is to take revenues from the "working model" to advertise and run the site and eventually hold a crowd sale once we've attracted developers to fund an actual complete fantasy sports website that uses Counterparty tokens and allows you to charge a fee in whatever token you wish, in our case OCTO. The code will be open sourced so that any Counterparty asset can apply this to their sites and have an extra use for their tokens and websites that the wish to gain revenue from. So we have a plan for an actual use that not only helps us but helps Counterparty in general.

It's a slow process as you only have myself working on it and that I expected thegrid.io to be running by now. Unless we get lucky and have devs come along that see this vision and wish to help out for a stake in OCTO, then I don't see it speeding up.

I am passionate about this and spend quite a bit of my time working on this. I'm so passionate that when I launch the first marketing website I'm not even taking 100% of the profit and I'm using the money to fund developers to build what we need to make OCTO successful.

No offense taken. Most people should be so smart to ask what exactly they are sinking their BTC into before just trading for random coins.

If you know of any devs looking for a home, please spread the word and send them our way. Be looking for the marketing related site to launch as soon as I can get it up and running. I may not be a dev but I work for an online directory that does huge volume so I'll take what I know from that and try to make my site successful. We don't even need huge volume to pay me what I need to survive monthly and still be able to fund some devs and launch the fantasy mma site.

That's my plan and pretty much where we are at in OCTO at the moment.

I am always open to people willing to help and ideas. This isn't even s set in stone plan, as OCTO is a token that was created from an abandoned alt. You never know what other ideas or people may come along and use OCTO as a platform for their ideas.

But for now since I am the only one really working on this, that is the plan

[1714834245]

1714834245

[hashbrown9000]

I have a nice buy order, just waiting for someone to dump into it! 

[OCTOPARTY]

https://reputation.coindaddy.io/xcp/asset/OCTO

Guys please go to this page and rate OCTO! They finally launched the reputation system.

[mafort1469]

Cool, will do. Thanks.

[hashbrown9000]

just sent in my match screenshot and ino

[OCTOPARTY]

Got ya Hashbrown. Last night to grab the 50% match. I will send them out tomorrow night along with the Lottery Faucet.

[hashbrown9000]

well, in that case.... heh heh. 

[OCTOPARTY]

i mean it's the last night for 50%. we will discuss it more this week but we should set the % way lower. we cannot distribute this much OCTO on a weekly basis. but it was good for the purpose of keeping us on bittrex. i'm thinking maybe 10% will be good enough to keep the transaction volume up at bittrex but we will have to test it out.

hopefully we won't have to do this for more than 3 months to give us time to give OCTO some better use.

we have two things in our favor:

1. thegrid.io should let me join beta access at some point in july according to their twitter and news message. this is one month behind schedule but better late than never. i could have already been up and running if i had access at the beginning of May like i previously thought. i suspect that it will take at least the month of june to lay everything out and start contacting bitcoin companies to see about advertising on our site. hopefully some will bite. as soon as i have about 2-3 weeks of steady income from the site i will start pulling some funds for OCTO development.

2. the letstalkbitcoin.com and tokenly swapbots should launch soon and that will make it so that virtually anyone can offer goods, services or other tokens that are redeemable for goods and services in exchange for OCTO. that's great for OCTO and any Counterparty token all around. I urge you guys in the community to take advantage of swapbots if you have ideas for it. supposedly even if you don't want to code one into the website yourself, you can rent a swapbot for $5-$10 a month which is affordable if you are offering something that's worth buying. if you make it so that users must purchase your good or service in only OCTO,  then hopefully it will start to affect the volume and price at bittrex. i have the ability to host up to seven websites with my thegrid.io account so one of them may be an OCTO only directory where anyone that accepts OCTO can list on our site for free! make it easy for OCTO holders to search for things they may wish to use their OCTO for.

I don't have a domain name for that site but hopefully someone will be willing to get one for us. I know someone had octo.party but i can't remember what they wanted to use it for.

I have about 3-4 sites i'm already building but i will definitely use one to do an  OCTO directory so that we make it easy for users to spend OCTO

[mafort1469]

i mean it's the last night for 50%. we will discuss it more this week but we should set the % way lower. we cannot distribute this much OCTO on a weekly basis. but it was good for the purpose of keeping us on bittrex. i'm thinking maybe 10% will be good enough to keep the transaction volume up at bittrex but we will have to test it out.

hopefully we won't have to do this for more than 3 months to give us time to give OCTO some better use.

we have two things in our favor:

1. thegrid.io should let me join beta access at some point in july according to their twitter and news message. this is one month behind schedule but better late than never. i could have already been up and running if i had access at the beginning of May like i previously thought. i suspect that it will take at least the month of june to lay everything out and start contacting bitcoin companies to see about advertising on our site. hopefully some will bite. as soon as i have about 2-3 weeks of steady income from the site i will start pulling some funds for OCTO development.

2. the letstalkbitcoin.com and tokenly swapbots should launch soon and that will make it so that virtually anyone can offer goods, services or other tokens that are redeemable for goods and services in exchange for OCTO. that's great for OCTO and any Counterparty token all around. I urge you guys in the community to take advantage of swapbots if you have ideas for it. supposedly even if you don't want to code one into the website yourself, you can rent a swapbot for $5-$10 a month which is affordable if you are offering something that's worth buying. if you make it so that users must purchase your good or service in only OCTO,  then hopefully it will start to affect the volume and price at bittrex. i have the ability to host up to seven websites with my thegrid.io account so one of them may be an OCTO only directory where anyone that accepts OCTO can list on our site for free! make it easy for OCTO holders to search for things they may wish to use their OCTO for.

I don't have a domain name for that site but hopefully someone will be willing to get one for us. I know someone had octo.party but i can't remember what they wanted to use it for.

I have about 3-4 sites i'm already building but i will definitely use one to do an  OCTO directory so that we make it easy for users to spend OCTO

Excellent update, thanks!

[OCTOPARTY]

50% match stimulus is over. we will announce the continued interest rate soon. for now all trades are considered no matching. as soon as we discuss and announce the new % we will post it on this thread. we want to keep a high enough % that people will still trade but that is much lower than 50%. thanks to those who purchased OCTO and helped us stay on Bittrex

anyone who has not submitted their email to octocoinburn@gmail.com, with their buy photo, amount, and counterwallet address, please do so by 7 pm EST. i am doing the lottery faucet and match % distributions tonight.

thanks!

[OCTOPARTY]

The 50% match and the lottery faucet were distributed. No video update this month. All lottery faucet posters received the max 888 OCTO

OCTOFAME token holders, head on over to LTB OCTOFAME forum for some updated news there. I definitely want to hear your opinions on the post there.

To the rest of the community, we may need to still pay out a % but we cannot stay at 50. How much do you think we should pay out for a 2-3 month period to keep volume at bittrex? Some have suggested 5%-15%. I think that range might be enough. I definitely wouldn't want to go over 20%. We would eat through a ton of OCTO so I'd say the lower end would be better.

[mafort1469]

The 50% match and the lottery faucet were distributed. No video update this month. All lottery faucet posters received the max 888 OCTO

OCTOFAME token holders, head on over to LTB OCTOFAME forum for some updated news there. I definitely want to hear your opinions on the post there.

To the rest of the community, we may need to still pay out a % but we cannot stay at 50. How much do you think we should pay out for a 2-3 month period to keep volume at bittrex? Some have suggested 5%-15%. I think that range might be enough. I definitely wouldn't want to go over 20%. We would eat through a ton of OCTO so I'd say the lower end would be better.

I suggest 7%, but no higher than 10%.

[cabbage2014]

10% would be a good number I think.

[OCTOPARTY]

Yeah I agree. We don't want to bleed OCTO

[mafort1469]

Yeah I agree. We don't want to bleed OCTO

Or start with 10% and each week drop it 1%.

[OCTOPARTY]

but if we drop to 1% towards the end won't the volume also drop and that's what we are doing this for?

[mafort1469]

but if we drop to 1% towards the end won't the volume also drop and that's what we are doing this for?

No, not what I meant. Start at 10% and then each week for let's say 4 weeks drop it 1%. So...
Week 1 - 10%
Week 2 - 9%
Week 3 - 8%
etc...

Would get volume and not run things too crazy.

[OCTOPARTY]

but if we drop to 1% towards the end won't the volume also drop and that's what we are doing this for?

No, not what I meant. Start at 10% and then each week for let's say 4 weeks drop it 1%. So...
Week 1 - 10%
Week 2 - 9%
Week 3 - 8%
etc...

Would get volume and not run things too crazy.

right i get what you mean. i guess my questions is how bittrex gauges volume. because it seems that towards the end of the month we get the warning for delisting. i don't know if that means that it is a total monthly or a reading from that specific day.

if it's toward the end and a specific day then that's when we would want the 10% i think. i could be wrong

[mafort1469]

but if we drop to 1% towards the end won't the volume also drop and that's what we are doing this for?

No, not what I meant. Start at 10% and then each week for let's say 4 weeks drop it 1%. So...
Week 1 - 10%
Week 2 - 9%
Week 3 - 8%
etc...

Would get volume and not run things too crazy.

right i get what you mean. i guess my questions is how bittrex gauges volume. because it seems that towards the end of the month we get the warning for delisting. i don't know if that means that it is a total monthly or a reading from that specific day.

if it's toward the end and a specific day then that's when we would want the 10% i think. i could be wrong

I am unsure of how bittrex measures volume. I can ask Richie how that is determined so we know for sure. Anyway, I will definitely put in my two Octo to prevent any delisting. I have been a proponent from the start and will continue to be so!

[OCTOPARTY]

Thanks I appreciate it