Topic: [ANN][SPT] - Spots - Cryptsy | Fork 9/19 | Scrypt | Introducing Reward Reduction - page 18. (Read 93387 times)

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!

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

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.

Definitely an interesting analysis of the marketplace.

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.

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?

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.

Update for Friday 6/27:

- We have sold 11 raffle tickets so far for this week's drawing!
- It's also worth noting that the increase in demand has caused the trade price to break 500!  We are up 66% in value since yesterday!

  Lol, we're all over the place today.  It is exciting to see the increase in volume on the exchange!

Here is a tip for you to get the best possible price, and help stabilize our trade price a little bit...  Don't buy out the market all at once.  Place a buy order at the highest listed price, or slightly higher, to ensure you're the next order.  That'll save you a few satoshis and help reduce fluctuations and wild swings in trade price.  The only downside is that instead of instant gratification, you have to check back a few times over an hour or two.

As I mentioned above, steady demand and increases in volume will get us further than being + or - 20% with each order.

I jinxed it, lol...  It looks like the price increase triggered some multipools to hit us and drive our price back down.  Steady demand will fix this, in time.  

Wow, not sure if the raffle is driving the increase, but we jumped up 50 satoshi's in the last hour or two...  Grab up those under valued Spots quick!

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.

Well, things didn't go exactly how I imagined...  But, I know what needs to be done...  So, the Mac wallet isn't far off...

I virtualized a 64-bit Mac OS with all of the build dependencies, and was getting a bunch of compile errors when I tried to build the QT.  After some research and debugging, it turns out Mac wallets are all compiled on 32 bit machines.  There is a known issue with 64 bit OSX builds, and the work around is to simply compile in the 32 bit environment since it is forward compatible.

I'm in the process of downloading a 32 bit OSX image, then I'll have to rebuild several gigabytes of dependencies...  Basically have to start over...  It'll be out soon though.

Good news, I've been able to virtualize a Mac OS.  Installing dependencies and build environment now...  Hope to have the Mac Wallet up this evening, if all goes well.

It's tempting, but I think I have it under control for now.  The coin wasn't pre-mined and there really isn't a "fund" for bounties and things like this...  I'll reach out if I change my mind.

If anyone in the community wants to fund this, please reach out to qiwoman2 and let us know.

I love to promote cryptos I do it full time would you like me to do a twitter blast and a blog review for the raffle for a few spots? ..I can do a nice blast also my Husband is a certified translator who can get this ANN to a billion peeps?

I'll put some serious focus on this in the coming days...  I was hoping someone from the community would be able to do this for the bounty, but that doesn't seem to be the case. 

I like the idea of a raffle and will take part once there is a mac wallet i can use.

I will sell the raffle tickets through CoinPayments.net on http://www.theSPT.com/exchange.  I'll let everyone know when the updated store is brought online (my goal is by Friday evening).

I'm still working out the details, but will be as transparent as possible...  My thought is that everyone will automatically be given a raffle number at checkout, the number of active tickets displayed on the site, and at certain thresholds a second, third, fourth, etc drawing will be added...

Where to send 50 spt to enter raffle?
You will post (show at raffle page) how much x50spt's entered ruffle?