Topic: [ANN][SPT] - Spots - Cryptsy | Fork 9/19 | Scrypt | Introducing Reward Reduction - page 19. (Read 93375 times)

Sweet    Post the wallet address to send and sign me up for week 1!

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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.
   

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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!!!

Thanks to a suggestion from a member of the community in PM.  I'm going to begin doing a weekly raffle drawing for a gram of silver!!!  I'll also be offering 1 oz bars of silver at a more competitive price-point.

The details for both need to be worked out, but expect more on both initiatives soon!

Because it's only been going for a month I would hazard a guess at the reason for no sales yet would be exposure.  This coin has a USP, unlike the vast majority of cryptos, maybe it's all about getting the word out.

Maybe getting some ideas from goldbugs from the popular exchange forums like kitco might help. However, this coin will also be used by joe bag o donuts who have no real experience of the markets.

Auto or semi automated exchange sounds like a positive move.  I'll support it.

I agree with you that the "exchange" philosophy behind Spots has a great deal of potential, but we've been running an Amazon gift card and precious metals exchange for almost a month now.  Neither store has made a sale.  What is your honest opinion on why there are no sales?  Is it price point, consumer confidence, or just simply exposure, or something else???

For the multipool...  As mentioned previously, I'm having some challenges in building a full blown SHA multipool...  What are your thoughts on an automated (or semi automated)  BTC / SPT exchange?  For example, you mine on coinsolver.com / wafflepool / whatever using an address provided by the exchange.  When the multipool deposits, the BTC is traded for SPT, the SPT is sent to your SPT address.  I saw a few of the Proof of Stake coins do this.

I like the idea of a multipool, so people like me who invested in antminers or similar can mine SHA/scrypt but get paid in other coins which they feel more connected to.
The whole idea of Spots exchanging for physical gold/silver is unique and compared to most other coins has a future imo, and the way most economies/finances are going a very big one.
I think you really are doing exactly what's needed at the moment. This isn't Doge, this community has its own momentum and involvement but as you yourself said the pickup of the new wallet seemed promising.

Hey Everyone -

I've tried a few times to get some ideas or support from the community.  What ideas are out there that would help to make this coin succeed?  What would show the world that Spots is different?  I'm not getting much feedback, really any...

I hate to see this coin start to fizzle out after so much effort went in to the first pass, then again with the relaunch...  But, my intention has never been to take over the agenda of the coin.  The goal was to take the feedback from the community and bring that to life.

Does anyone have any ideas on what is going wrong or how to fix it?  It's not too late, but we are definitely on a downward trend.  I'm not opposed to having someone else "take over" if the community would respond better.

Mike

I am looking at a PoS coin where you register with their service and are given a BTC address to mine with.  You then go mine with your multipool of choice using the provided BTC address.  When the BTC are deposited with the service, a comparable value of the Altcoin is sent to your Altcoin address.

It would be much easier to manage an exchange like this, than a full multipool...  Does anyone see any holes or a reason this wouldn't work?

Effective immediately, mine.theSPT.com will have 0% fees.

Over the last week I've been playing with ad banners and that has proven to be a better business model.  Moving forward, you keep 100% of your rewards and let a 3rd party support the hosting costs.

Don't worry too terribly much about the recent price drop on Cryptsy...  Our price was artificially stable and over-valued by a large buy order at 450 satoshis.  That buy order was dropped earlier today, and as new coins are placed in circulation through block rewards, the price will slowly decline until it finds it's true post-fork floor.

It looks like we are stable around 400 satoshis, but we may fall as low as 300 satoshis before we find an equilibrium...  Maybe a good opportunity to buy if you are comfortable with the risk.

I'm sorry to let you down...  :-(

After testing NOMP "hacked" together to work with MPOS, I'm finding all sorts of issues...  This isn't to say it can't be done, but it can't be done easily.  I guess this is to be expected, as if it was easy everyone would have a multipool up and running, right?

I'm going to continue to work on it, but I honestly can't give an ETA at this point or commit to it ever being finished.  If you're a multipool operator, please feel free to reach out to me if you think you can program this.

Looking forward to the multipool

Hey Everyone -

I wanted to give an update on the SHA multipool that disperses Spots coins exclusively as payout...  I have confirmed there is no easy or open source plug and play solution for this.  At least not yet...  I see a lot of communities have reached out to freelance developers to try to pay someone to do it...  In our case, Spots wasn't pre-mined and I can't afford a significant bounty...  I can hardly afford to keep the two servers online!

After closely looking at NOMP and MPOS, I think I've come up with a way to make this work with some limited modifications.  Over the next day or two I'm going to test what I'm thinking and report back...  NOMP has a plug and play multipool and I think I've found a way to modify MPOS to function as a multipool frontend and payment distribution center.

I really like this idea, so it will be my #1 priority for the coin moving forward.  It has the potential to expand our reach and user base.  It also will help to increase demand for the coin when the other altcoins are converted to Spots. 

I updated the OP to show Coins-E as our second confirmed exchange.  Their volume is a little low, but things should pick up.

https://www.coins-e.com/exchange/SPT_BTC/

Desten, your negativity is not good for this community...  Feel free to PM me or anyone else if you have specific concerns.  Let me respond to you thought by thought...

There is no PR -
What would you suggest?  In about a month we've forked the client to fix the unstable block chain, had the coin relisted on many crypto coin charts, we have an active social media feed, we are traded on a major exchange, and we have two unique stores.  By all means, tell us what else should we be doing?  Also, know that you could step up and come up with a plan as well.

There are no new users / traders -
I disagree, we are still seeing a lot of traffic and buzz.  The client is being downloaded at a regular rate...  The only area that is quieting down is the forum.

Most of the old users are disappointed -
I'd be more than happy to work with anyone who has an idea or suggestion.  Every idea shared has been implemented, with the exception of a single request to make the algo X11 instead of Scrypt-N.  And that was simply because the work was already done when the request came in...

Multipool shows Spots as most profitable coin. Awaiting for crazy dump? -
KGW limits the damage a multipool can do to our difficulty levels by fast difficulty retargeting.  That is why it was introduced.  Our block target is remaining constant at 70 seconds, and those coins are going somewhere...  Whether it's a multipool or solo miner...  Also, it is more common that those coins are dumped immediately to ensure they trade at the current trade price.  They are not keeping a huge wallet somewhere waiting to drop it on the exchange.

There are no PR. There are no new users/traders, most of old users are disappointed (all IMHO). Multipool frequently shows spots as most profitable coin. Awaiting for crazy dump?

Added to the OP!

I've opened up my Amazon gift card store now so you can shop at Amazon with Spots

http://store.crypto2.net

Hi Everyone -

As I've said from the beginning of this journey, I want the community to "own" Spots.  Keeping this philosophy in mind, I want to get everyone's feedback on our next big initiatives.

What do you guys want to see in a Spots store?  What services do you want to see?  Are there any great ideas out there that would set our coin apart from the other alt coins?

I do have two items that I am currently researching / working on from previous discussions.

• SHA & Scrypt MultiPool that trades for Spots - This is a great idea to put old mining equipment to work and to increase demand / trade price for Spots.  I've identified that the NOMP code can do this, at least on the back-end.  The front-end / database would need to be coded from scratch or MPOS would need significant modifications to make this work.  I'm still researching options and determining the best way to move forward.
• Obviously the Mac client...  I don't have a Mac and the OS is not easily virtualized.  There is a bounty, and I am continuing to try to find a Mac or safe way to use VirtualBox with a Mac OS.

In either case, it was a result of the market freeze.  The price will recover and appears to be stabilizing.  This is what we've been waiting for!!!  It's good news.