Topic: [ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink - page 15. (Read 297719 times)

I don't think we want to sell it all at once, need to be sold in stages, first enough to fund the 1st development, hopefully that will raise the price a little, then sell enough for stage 2, and hopefully that will raise the value a some more, and so we not flooding the market and not selling them all for a low price, just enough to develop the project/coin, at a later date decided by if we get enough interest and vote release more into the wild

I've counted mine as a write off already so I won't be dumping, I will hold for the long term and I hope most others think the same way

I never said it would be easy or fast, but it gives a good starting target if we can get good projects going

instead of aiming for and promising the moon, take baby steps, with project development (depending on what the projects are) there is no reason it couldn't get it to 3000

I am bolding the most important aspect that I see, using counterparty would just mean 1 less thing for us to worry about so we can concentrate on projects

My comment wasn't saying it would be 3000sats, but if we could get it to 3000 via projects then we wouldn't be missing out

compared to when the wallet was taken off of bittrex

my as well try to get more while you can for the burn. we def need to have some hash in the burn too.

Poloniex.com and Bter.

I use Polo, not a fan of Bter.

Polo also carries quite a few Counterparty assets:

XCP
GEMZ
SWARM
SJCX
FLDC
LTBC

All Counterparty assets/coins. They definitely show the love. I would think we would be able to get listed there.

welp, i just threw a measly 1 gpu onto this coin. see where it goes. most for giggles.  I still have all that i mined from last year haha!

With counterwallet coins, can they be listed on the exchanges?  Or only on the counterparty exchange?

I agree. I do think there is something to be said for scarcity but only in the sense of comparing coins with caps to coins that are in the billions or have no cap at all. I wouldn't want a billion or more cap that is divisible or to have no cap at all.

As for the difference between 8 million or 88 million, price wise I don't think it will matter too much. It would have to have a user base larger than BTC in order for the buy support to drive up a coin with a lower cap. I compare the 88 million to Litecoin: if it can reach $49 then so could ours and they have 80 million.

The price will definitely be determined by the apps and services. I think focusing on building an eco system with custom apps built for OCTO will determine the price.  I think an extra bonus is being on CP. You never know where we may have the ability to cross promote with other coins applications. These guys are all focused on different apps but we all can use the same wallet which would give the ability to cross promote or at the very least to contract out for them to build something we need.

When we start building the ecosystem for our coin it may be something where it becomes more of a multi coin ecosystem for multiple Counterparty assets. This really could be helpful though. It could be something where OCTO starts out as the builders and testers of  our services but then we will allow/add other Counterwallet coins to be used. As long as we are pumping out services to keep OCTO as the main token and relevant it wouldn't hurt us.

I think that a lot of people believe there is some correlation between number of coins in circulation and the price. If that were the case, rare coins like 42, 66, etc. would be worth millions of dollars each and overly-abundant coins like XRP and Doge would be worthless.

The price of any coin is determined, mainly, on the community supporting it. If you grow the community, then the price will naturally increase. You grow the community by creating apps and services that the coin can be used for.

A good way to create new growth is to target an untapped market, which is the plan that we are working on. Bringing new users into the crypto scene with apps and services targeted at them will naturally create a larger community and an increase in the price.

OctoCoin for me new so can say best of luck...

I agree. It has to be a balance to service both the burners and the buyers. The good thing is that the burners will also be able to buy. I know I'll be buying some just to throw BTC at the project we have planned.

But I don't know what the magic % is. I don't think there is a 100% correct answer. Some of it depends on how we do the crowd sale. If we are selling the whole  amount of coins that are capped I could see burners getting a 40% share. If we aren't going to sell ALL of the remaining coins in one sale, then it may need to be a lower %.

I think most people who don't know Octocoin or our history will care less about the original alt and only worry about whether this is a scam or a pump n dump. Of course there are ways to counteract that as well, by offering more voting power to BTC buyers. The hard part will be convincing anyone why we would do this burn and not just start the coin with zero issues and every coin issued is from the crowd sale. They could care less that we lost from investing in Octocoin. But what they do have to understand is that the new coins is a transfer of our coin in a sense, and a community takeover on a coin that we all invested mining and BTC into. It may not have an exchange value currently but our time and money put in is not worthless. Plus our core group will all have some responsibilities in a sense to promote  and help with the new coin.

I think we will figure it out step by step. We have to determine a few things and build from there.

I'm sure no matter what decision we come to on many of these issues that everyone will agree or like how we go forward. You simply cannot please 100%. I do think though that we will find a good deal of working together to meet in the middle. It will be the only way we can get traction.

What makes you think it could be around 3000 Sat?  I'm all for OCTO, but it's going to be real tough to get new people interested.  There is so much out there,  burning coins, and going to counterparty isn't going to make things happen.  Unless there is progress on the coin we'll be in the same boat we are now.

I have seen this happen with so many coin, DEVs can talk the talk, but can't walk the walk.

I agree stonerboy,

I think 10 is a good choice, the price was about 300 before bittrex wallet went offline, so with project development if we could around 3000 sats, we octocoiners wouldn't be missing out

can't do maths at this point about conversion rate, way to early in the morning here, but doing 40-50% for octocoiners and sales to provide funds for the 1st development shouldn't be an issue, I can see frameLAlifes point, but if we screw us on conversion rate you would lose the current community spirit and there would be resentment that people who got in later got a better deal

I would stay at dividing by 8. Dividing by 16 would be bad for the loyal people.

1. we loose our % of shares. It gets smaller. So this would be a negative point for the people here who want to work on this project.
   (why punish them)
2. The point for many is that they want to see Octo alive to have a real chance to get their investment back (minimum)
    -> if you divide it by 16, there's the following fact:
         Octocoin was traded at around 1000 satoshi (often much higher, but let's keep it low)
         ->Since 16 Octocoin is 1 OCTO now we will have to get a 1000 x 16 = 16000 satoshi coin (minimum)
             (And don't forget that BTC was worth 2,5x at this point in the past, counting that in... just forget it)
             So what will be the price in the crowdsale?
            

Even if we burn 30,000,000 we get 3,750,000 OCTO if we divide by 8
thats like 40%, distributed to a lot of people.
Maybe divide by ten. so we only got like 30%.
But regarding that the total cap is divided by 10, everything divided by over 10 would be a bad deal for us, the loyal ones.

All i wanted to say is that we don't have to scam ourselves only to be loved by every investor out there. That's not our job.  

Just my opinion.  

Yeah we will start a new thread soon. Once we decide on the official name and such. I have done quite a bit of research lately but I'm also busy preparing to move to Florida this month.

I also have a tough weekend/week of on call starting this weekend. So my plan is to try to schedule the Skype call for the following weekend because I will be off on Friday/Saturday/Sunday. On the call we can discuss the official name and ticker so we know what to name it. Among other things that we cannot post on the forum yet.

you seem to be onto it frameLAlife  , also we should start a new thread so we have control of the OP, explain what is happening and y, so its all out in the open and no one need to read every page of this drama

sweet az, 1 octo to 16 octocoin, leaving ~2.5mil for octocoin investors and ~6.3 mil for further sale

sell that ~6.3 mil in chunks as projects need funding

That is possilbe to block not accept burns from the pre mine or associated addresses it has sent to. Just need the block explorer to make sure.

I think my point was that you can't have a distribution like 5 million to us and 4 million to the buyers. If it's that out of whack people may not buy. They may perceive that we have too much power as for any future voting. They may think when the coin gets any traction or value we will all dump.

You have to balance it out. And we don't have to issue ALL the OCTOPARTY or OCTO whatever we call it, at once.

If we did a burn and created say 2 million of the new coin. Then we should probably sell at least 3 million for BTC. That would still leave almost 4 million to be distributed at a later date. Then after the completion of the first project you can sell more to fund a second project. If the first project is successful and the value of the coin is up then we could offer a decent deal where the user is getting some of the coin in bulk at a discount. But we should be able to sell a lot less OCTO for a lot more BTC in the second crowd sale because we will have a baseline price that it will be worth by then.

That is also a possibility to just use OCTO. And yes, you can still use the 888 in just branding and not the ticker.

I think many will agree. But many are partial to 888 in the ticker. I do think as long as the 8's are in the branding... even in the logo, then you still capitalize on that.

I almost thought about adding the 888 to the top part of the octopus. just to see how it looked with the 888 combined.

as it has to be 4 characters, lets call it octo, but for all the branding still use the 888, people will get the point

or 888 with a letter like s, 888s

actually I like the 888s, stand for octos (or multiple octo)