Topic: LOTTOCOIN OLD THREAD, [CLOSED] - page 242. (Read 370526 times)
what you are not taking into account is that svennard is not the biggest fish in the pool, I've seen people on nut2pools with 30Mhs+, in fact there is one in there right now with 32,953Kh/s
WTF? - is that right, over 386 Million coins premined?? So right now equivalent of over 65 BTC premined?
If there is no public destroying of this, then I doubt Ill bother much longer with this coin, as that has pottential to destroy. It will certainly be a concern of any major exchange, and would not surprise me if this was one of the major factors in larger exchanges not taking this on.
In fact, to play Devils advocate, perhaps the very people that we are asking not to keep dumping on coinedup are the people sat on the equivalent of around $45,000 worth of premined coins??
Just for some basic maths, at 15 million coins a day, best that svennand could have done since the launch of the coin was 225 million, and thats if the difficulty had not risen from 0.9. Im going to assume that at best he would have 50-60m by now given the huge percentage increase in difficulty.
15m a day at 0.9 is 7.5m a day at 1.8, and its been spiking to 9 on the dificulty, which would mean 1.5 million a day tops.
If there is no public destroying of this, then I doubt Ill bother much longer with this coin, as that has pottential to destroy. It will certainly be a concern of any major exchange, and would not surprise me if this was one of the major factors in larger exchanges not taking this on.
In fact, to play Devils advocate, perhaps the very people that we are asking not to keep dumping on coinedup are the people sat on the equivalent of around $45,000 worth of premined coins??
Just for some basic maths, at 15 million coins a day, best that svennand could have done since the launch of the coin was 225 million, and thats if the difficulty had not risen from 0.9. Im going to assume that at best he would have 50-60m by now given the huge percentage increase in difficulty.
15m a day at 0.9 is 7.5m a day at 1.8, and its been spiking to 9 on the dificulty, which would mean 1.5 million a day tops.
Thank you. Your getting my point here.
No good have ever comed from premines before.
Sure theres some bounties and small stuff gets created. But the perception from the public on this is generally bad...
Look at phoenixcoin, feathercoin (they didnt even premine, just had ridiculouse launch diff) and so on. Still getting hammered on chats from trolls due to "premine! scamcoin blabla".
You are amazing, just checked coinedup. i have "dumped" 17MILL LOT there in total (that includes me selling for someone else).
Dunno where you get your 15Mill/Day from. i had estimated mining earnings of 15MILL a day, which i didnt get since broken code, and that i sold on the thread exchange @.12/Mill
Im just questioning the upside/downside of having 2% premine here. No need to make this about me.
I have made alot of money on lottocoin, so theres no hard feeling there.
Sure i sold it "cheap", but then again i made 15MILL pr day, so selling at 0.12BTC pr mill still made me an awesome profit and still do.
Dunno..must have read your post wrong..
368.139.596 coins premined 
368.139.596,8 to be exact (2%).
Way overkill, could easily destroy the entire value of the coin in seconds if the creator did a dump.
Any chance we see public destroying of this?
The history has shown us that premine never benefits the coin in the long run.
Its like feeding the trolls unlimited amount of trollammo
at the rate you and others like you are mining you could have stocked up well over 1% and then dumped so isn't it really the same thing?
now I know that you personally did not since you showed the wallet that's why I said "could" and not "have" but some other guy with 20-30Mh/s could have easily done it
svennand by his own admission has been mining & dumping 15 million coins/day on coinedup so the pre-mine really isnt that bad. Much of it will be used for giveaways & bounties as well. Additionally, mr lotto is creating new games himself for the coin which also costs $$ & deserves some reward.
You are amazing, just checked coinedup. i have "dumped" 17MILL LOT there in total (that includes me selling for someone else).
Dunno where you get your 15Mill/Day from. i had estimated mining earnings of 15MILL a day, which i didnt get since broken code, and that i sold on the thread exchange @.12/Mill
Im just questioning the upside/downside of having 2% premine here. No need to make this about me.
WTF? - is that right, over 386 Million coins premined?? So right now equivalent of over 65 BTC premined?
If there is no public destroying of this, then I doubt Ill bother much longer with this coin, as that has pottential to destroy. It will certainly be a concern of any major exchange, and would not surprise me if this was one of the major factors in larger exchanges not taking this on.
In fact, to play Devils advocate, perhaps the very people that we are asking not to keep dumping on coinedup are the people sat on the equivalent of around $45,000 worth of premined coins??
Just for some basic maths, at 15 million coins a day, best that svennand could have done since the launch of the coin was 225 million, and thats if the difficulty had not risen from 0.9. Im going to assume that at best he would have 50-60m by now given the huge percentage increase in difficulty.
15m a day at 0.9 is 7.5m a day at 1.8, and its been spiking to 9 on the dificulty, which would mean 1.5 million a day tops.
If there is no public destroying of this, then I doubt Ill bother much longer with this coin, as that has pottential to destroy. It will certainly be a concern of any major exchange, and would not surprise me if this was one of the major factors in larger exchanges not taking this on.
In fact, to play Devils advocate, perhaps the very people that we are asking not to keep dumping on coinedup are the people sat on the equivalent of around $45,000 worth of premined coins??
Just for some basic maths, at 15 million coins a day, best that svennand could have done since the launch of the coin was 225 million, and thats if the difficulty had not risen from 0.9. Im going to assume that at best he would have 50-60m by now given the huge percentage increase in difficulty.
15m a day at 0.9 is 7.5m a day at 1.8, and its been spiking to 9 on the dificulty, which would mean 1.5 million a day tops.
368.139.596 coins premined
368.139.596,8 to be exact (2%).
Way overkill, could easily destroy the entire value of the coin in seconds if the creator did a dump.
Any chance we see public destroying of this?
The history has shown us that premine never benefits the coin in the long run.
Its like feeding the trolls unlimited amount of trollammo
at the rate you and others like you are mining you could have stocked up well over 1% and then dumped so isn't it really the same thing?
now I know that you personally did not since you showed the wallet that's why I said "could" and not "have" but some other guy with 20-30Mh/s could have easily done it
Fair and valid point to some degree.
If i would have saved ALL my earnings that would amount to around 30-40MILL so far (roundabout). thats 15,5Mhash running for now 13days (diff from 0.9-7).
Now lets say that the diff dont change ANY (currently 6), and i stick with lottocoin. it would take me 140 days to mine that kinda value.
Given that the daemon were broken from the getgo and all pool miners were 500% over target estimated earning, i believe that me or "others like me" have stocked up on that kind of values, is highly unlikely
368.139.596 coins premined
368.139.596,8 to be exact (2%).
Way overkill, could easily destroy the entire value of the coin in seconds if the creator did a dump.
Any chance we see public destroying of this?
The history has shown us that premine never benefits the coin in the long run.
Its like feeding the trolls unlimited amount of trollammo
at the rate you and others like you are mining you could have stocked up well over 1% and then dumped so isn't it really the same thing?
now I know that you personally did not since you showed the wallet that's why I said "could" and not "have" but some other guy with 20-30Mh/s could have easily done it
svennand by his own admission has been mining & dumping 15 million coins/day on coinedup so the pre-mine really isnt that bad. Much of it will be used for giveaways & bounties as well. Additionally, mr lotto is creating new games himself for the coin which also costs $$ & deserves some reward.
368.139.596 coins premined
368.139.596,8 to be exact (2%).
Way overkill, could easily destroy the entire value of the coin in seconds if the creator did a dump.
Any chance we see public destroying of this?
The history has shown us that premine never benefits the coin in the long run.
Its like feeding the trolls unlimited amount of trollammo
at the rate you and others like you are mining you could have stocked up well over 1% and then dumped so isn't it really the same thing?
now I know that you personally did not since you showed the wallet that's why I said "could" and not "have" but some other guy with 20-30Mh/s could have easily done it
368.139.596 coins premined
368.139.596,8 to be exact (2%).
Way overkill, could easily destroy the entire value of the coin in seconds if the creator did a dump.
Any chance we see public destroying of this?
The history has shown us that premine never benefits the coin in the long run.
Its like feeding the trolls unlimited amount of trollammo
368.139.596 coins premined
ill donate 10mil to the rapidballs prizepool
Pledged a donation also, lets get this happening
Quote
we need more people to vote please.
lottocoin to da moon
Voted !
nutnut/svennand: out of curiosity/inner-geek can I ask how you tweaked your daemons to 'fix' them? Is it adding the submitblock function?
You gotta ask nutnut on that one. Im not part of the pool any more, and thus haven't mocked around with it.
Just know that this was an issue earlier before the fix.
nutnut/svennand: out of curiosity/inner-geek can I ask how you tweaked your daemons to 'fix' them? Is it adding the submitblock function?
I'm surprised none of you have a problem with the nut2pools pool having over 51% of the hash for this coin all the time. Sometimes it is as high as 70%.
It really hurts the validity of this coin to have one pool effectively controlling the blockchain.
I don't know the technicals well enough to understand whether they may be effecting the ability of other pools/ solo miners to get blocks, but I've found that since they've gotten over 50%, I receive a high number of rejects on solved blocks. Is it possible that the pool preferentially treats their own blocks, and effectively the entire chain, as the correct ones as they would see those before an outside block was submitted?
On a 30 second block, even a few seconds preference toward their own pool before others outside the pool could be validated could be enough to completely skew everything in their favor.
I haven't seen one person raise a concern about this on this thread, though. Why is this?
It really hurts the validity of this coin to have one pool effectively controlling the blockchain.
I don't know the technicals well enough to understand whether they may be effecting the ability of other pools/ solo miners to get blocks, but I've found that since they've gotten over 50%, I receive a high number of rejects on solved blocks. Is it possible that the pool preferentially treats their own blocks, and effectively the entire chain, as the correct ones as they would see those before an outside block was submitted?
On a 30 second block, even a few seconds preference toward their own pool before others outside the pool could be validated could be enough to completely skew everything in their favor.
I haven't seen one person raise a concern about this on this thread, though. Why is this?
Well i believe its because the LOT miners.. the experienced once at least have gotten used to EACH and EVERY pool being ddosed for 12 hours+ at a stretch.. so everyone just wants to get on and start mining asap..
Used to be devianttwo's pool had the majority of the hash power but that changed as the pool is being closed down.
As a result of pools constantly crashing.. Most of the miners got a chance to experience each and every pool in the hopes they could mine.. Nut has/had 3 servers.. jpn, eu and nl(now terminated) which means that he has the best chance for going on even if one server were to be ddos..
if there are 3 servers i assume the hashs are not all on one server, assume there are 40% on eu, 40% on us and 20% on jp and total hash, also lets assume total hashrate of nut2pools is 70%, that mean eu and us have 28% of network total hash rate each and jp have 14%, so no 51% attack i guess
An IRC Channel is quite more useful compared with a Skype conversation 
Now - as for the code... There are issues that lead to all pools running at a 500% average time to block. All pools now have to run a custom daemon to enable mining to work properly. So, as mining is the one thing that a coin needs, else you cant move it or create it, you'd think that it might be a priority to fix?
Nut
Nut
Is mrlotto ever gonna reply to this? Fix the buggy code? No lets add more webgames first...
Which brings us back to my concerns regarding the whole scene. Im not here to bash any coin, just raise concerns and awareness over what imo should be focused on
fully agree with you guys here, this nonesence with webgame after webgame needs to stop and the coin needs to be fixed, somehow mr lotto just decided to not comment at all / ignore the issue if you look 2 pages back.. and he decided that fixing the lotto game is more important, that's not right, get your priorities straight please
Guys. I am going to start a skype group with the active members of this communty to bring up ideas about how to bring it forward and also just talk in general about LOT and other coins. If you are interested joining just add me on skype: HampeLaajto
how about just use an irc channel like i mentioned before.
Now - as for the code... There are issues that lead to all pools running at a 500% average time to block. All pools now have to run a custom daemon to enable mining to work properly. So, as mining is the one thing that a coin needs, else you cant move it or create it, you'd think that it might be a priority to fix?
Nut
Nut
Is mrlotto ever gonna reply to this? Fix the buggy code? No lets add more webgames first...
Which brings us back to my concerns regarding the whole scene. Im not here to bash any coin, just raise concerns and awareness over what imo should be focused on
Stop dropping lottocoin on ecrypto you morons!
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