Topic: [ANN] OCTO - Resurrect 888 - New Counterparty Asset - page 9. (Read 37807 times)

UPDATE: You can post your counterwallet address on the OCTO 888 Lottery Faucet once per month. Please, no fake accounts. You can receive OCTO once per month starting now! Sorry it wasn't clear. FoldingCoin's faucet on LTB was once per LTB account. At this point we dropped from 35 to 5 posts. Let's share and distribute as much OCTO monthly as possible through the faucet. So, when you post, it pushes that post to the top on LTB. That get's eyeballs on OCTO and allows you to receive an OCTO payout monthly!

See you next month!

i agree with everything you've said so far, OCTOPARTY.

Well, yes in the short term, it would slightly inflate by adding more OCTO. If you are looking to offload some now, then it would hurt you. But at the same time this first year we are adding about half a million OCTO a month from mining. You can see there's more downward pressure at Bittrex than upward. Most of the sells are probably miners in my opinion. Until projects are launched or until there is any reason to give OCTO value we are dealing with the inflation and constant downward pressure.

The main reasons, though, that I'm against the burn is for perceptions from the outside, the possibility of constant late showers wanting to burn and the fact that any OCTO we have now should be used to help raise the value and ROI. Adding more to the burn does none of these.

Adding to the burn and gaining a few more people who may or may not even be active in the community does not help us necessarily. Unless they are just a superstar community member who does a lot for the coin and the community we just gave away some more OCTO to someone who is only looking to dump eventually.

Adding to the burn opens up that door we've already seen a few times where people are coming out of the woodwork wanting to burn. I get it. It sucks. But that's where we as a community should help. Many of us burned hundreds of thousands and some burned millions. If we held a burn, we wouldn't be doing  a 1:1 trade anyways, more like a 3:1 to 5:1 trade off to fight inflating the total burn number. So, if they aren't going to even get their full amount, I think most of us are in a position to help make it right, if we can.

And speaking of making things right, and helping people, How many people here received DNOTES from that community as a generous token because they loved the Octocoin community and wanted to help since the devs screwed us? They should be the ones gaining some OCTO. How about the guys that helped out with the burn and the planning? The ones that created the burn address? Re-launched a block explorer with their own BTC? Robert at FoldingCoin who has spent countless hours of his time helping with a burn, assisting with training, skype calls, answering emails, correcting issues. My point is, there are tons of people here who have been active and pitched in a helping hand. Not that I'm calling people who are showing up late for the burn leeches, but I'm just saying, not only should we take care of them, but we should really take care of everyone that pitches in.

Just for clarification, that doesn't include me. I've already had some generous people in OCTO and other organizations just give me OCTO. So, i'm good. Thanks to those who did that. More than receiving the OCTO, just being appreciated for my effort is always good and helps keep my head up when things are stressful.

I think before the weekend is over, that i'll list a few addresses for donations. I know some have already sent me donations that will go to djslick. If you know someone that missed the burn and wants in on OCTO, please just PM me their names. Separate addresses will be set for different individuals.

Remember this, if we want OCTO to be valuable for all, there's a lot of work that has to be done. It's not going to happen overnight. And we are fighting a battle since we already have burned coins. Many don't understand that. But most coins that have crowd sales don't start with a community already holding almost 20 million of the 88.8 million total tokens. They assume we are waiting for the big rise and there will be a large dump that will kill their ROI. Every coin fights this in some way. But, there are things we can do to combat this. The best thing about tokens, is that you can sweeten the pot, with extra  tokens that do other things. OCTO's crowd sale will include many tokens that do many different things so that they are invested in OCTO but have greater incentive to buy because they will receive a wide variety of tokens that they can use or even sell to others who may want to use that specific token.

We also have to consider that we still have to fund devs, use some OCTO to distribute for free as promotions, advertising, and even give some OCTO to people who sign up for the main projects websites. One way to draw users to play a game on the website will be that each signup has some OCTO to start with.

I hope most here agree with this. I know many have said they do. I haven't seen too many throw a fit for the other direction. And remember, this is not set in stone, if you disagree, say something. I think there is always a way to solve problems and that there are many people here with great ideas. So let's hear them if you have something better than what's posted

For now, I will proceed with setting up donation addresses as they come in. Each address will be open for one month. So anyone who wants donations will receive one months worth. They also have to give me their address within that month. Any one who receives donations and does not claim them with their Counterparty address by the end of that month, the funds will be held for a 1 week grace period before the donations will be sent to the dev fund address. And by dev fund address, that does not include me. That is an address with about 300,000 OCTO so far that will only be used to give to actual developers of the website, the code, etc.

Thanks guys! PM me those who are interested in receiving OCTO donations. I pledge to donate to each of them.

100% agree with this, best way to think about it is whats the point in having a million OCTO worth 1 satoshi, if you can have 100,000 worth 100-5000 satoshis?  Inflation dilutes value, if another burn happens the burners will lose out as well in terms of the value of their asset, donations are definitely the right way to go along with buying up cheap OCTO on Bittrex.

We've discussed the burn. See that's the problem. You make an exception for one you have to make it for all. Then even if we make it for all, what happens when another person comes around saying they missed the burn?

I know that we have discussed just doing a donation instead. I was actually going to post information on it this weekend. In fact we already have some OCTO donated towards djslick.

I think we'd be smart not to burn anymore. I also think that as a community, if people want to welcome key players that missed the burn, there's plenty of willing donators in the community. Not to mention the ability get free OCTO from the faucet, the ability to mine OCTO for a good cause at foldingcoin.net and the fact that it's dirt cheap and will remain dirt cheap until we get the projects going. If people really want to support OCTO, I suggest they go these routes and also buy at Bittrex.com. I mean today has been the largest day I've seen buying wise since we've been on Bittrex. $422 today so far.

I'll post more info later. If you are an OCTOFAME token there was some talk about it on the OCTOFAME lounge at LTB forum.

Hey guys, did we ever decide what to do with djslick and his 888? Someone else I know forgot to burn his coins too. Late to the party for sure, but thought I'd ask anyway (I'm sure I know the answer). Thanks and nice buys going on. Nice to see OCTO on the move.

perfect let me know if you need any help with it, i am here the rest of the day, but skype me if you do so we dont clutter the forum

Word. I'm about to try to push the Lottery Faucet.... I hope it works this time. I think I'll try paste text instead of upload.

Pushing the OCTO distribution now

https://youtu.be/2SsqQKP9tw8

OCTO 888 Lottery Faucet Video Blog. Subscribe on Youtube.

I don't suspect we will see a lot of volume until the first project is in motion. However, I'm always curious to know what causes the spikes we've had so far.

Let me know when to send you the distro. Thanks!

That is great to see! Maybe you will see some more volume after the distribution today

well somebody bought a chunk of OCTO this morning.

none yet. the plan is to test the marketing site on thegrid. if it works i'll use it. if it doesn't, i will move theoctoparty.com to one of my thegrid websites and use squarespace for the marketing site. it will take some testing either way. thegrid.io says they are launching to the public by june but some can receive early access in may depending on when they purchased. i bought thegrid at like #27000 or so. so that's not too promising but possible. thegrid twitter post said they would roll it out to a few thousand per day but that's all i have to go on.

for now, i have bought domain names for the marketing site. the goal is to launch the site so that i can have some extra income besides the part time job and also fund the building of the working demo. i still have some issues with that because all the devs i have spoken with are somewhat interested and have the basic skills to at least get the demo working. however, they all want to be paid.

i have considered another option besides straight up recruiting devs. i thought about launching a DCO on Swarm.

https://swarm.fund/

https://medium.com/@rubenalexander/creating-your-own-distributed-collaborative-organization-f443bc686335

the only issue with this is that it would treat paying people working on OCTO as receiving equity kind of. i don't know if that's the best route to go. i mean really anyone who has OCTO now or any devs we pay in OCTO is kind of holding equity in the form of we hope the need for OCTO drives up the price so that we receive a return.

that is all for now. i'm still going to continue searching for devs. i'll have the April payouts this weekend.

Hello. I hope things are progressing nicely. I too would like to see what is the story on thegrid.io. Any updates?

http://www.coindesk.com/nevada-regulators-bitcoin-poker-operator-arrest/

and this is why we are staying away from gambling including poker. i'm very libertarian/anarchist but i don't plan on going to prison over bs like this. luckily i do think most people will see the value in what we have planned when details are released.

don't forget to sign up for the 888 Lottery Faucet if you are new to OCTO. you will see the link in my signature. it's your chance to receive between 1-888 OCTO at the end of the month.

still waiting for thegrid.io invitation to get the website started.

And I just reread what you said, at the time no. Blocks are limited to 1MB which would not nearly be enough, this can be adjusted though over time. It has not been adjusted yet because it has not been an issue yet. There are plenty of other chains like synero that have much larger blocks. BTC devs just need to make the change and the miners need to accept the changes. It won't be an issue to do this

Well remember, one big misconception is that a block needs to finish in order to fully complete a merchant to customer transaction. What I mean is this:

- in almost every case, if you are spending a small amount such as $100 at a store, the merchant should feel comfortable allowing you to leave after sending because the chances of the transaction not being confirmed are very slim. The blockchain can very easily tell a double spend almost instantly, and one would probably not try and double spend a small transaction but rather a larger one (this bullet is somewhat opinion of me)

- using services like coinbase that can confirm BTC is there through internal databases are going to be essential for BTC adoption so transactions can be confirmed quickly and efficiently (or other off chain services like circle)

- I personally do not think that the block confirmation time is an issue for BTC, nor do I believe the %51 attack is an issue, the biggest concern I see is the blockchain size

hmmm, 10K transactions per min with 10 minute block times? is that possible?

Hopefully a good solution is met for the blockchain, because if bitcoin does 10,000 transactions pper minute like visa does, you are looking at TB per week