Oh well we scored 55k 5 minutes before that...
Deviants pool FTW.....
Topic: LOTTOCOIN OLD THREAD, [CLOSED] - page 281. (Read 370526 times)
nuts... 66 miners share a block reward of 934.01,
Oh well we scored 55k 5 minutes before that...
Deviants pool FTW.....
Oh well we scored 55k 5 minutes before that...
Deviants pool FTW.....
lot.nut2pools.com have ~50 % net hash. But nobody told about this pool. Because scammer or just unlucky https://lot.nut2pools.com/index.php?page=statistics&action=blocks
Did lotto have any p2pool ?
Thx.
Did lotto have any p2pool ?
Thx.
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That's bad luck! Another reason why the coin is called LottoCoin!
I normally pool at hackshard but switched to lot.no-ip.biz because hackshard was down recently. Something isn't right with no-ip because even though the pool has 35MH/s, the rate at blocks found seems A LOT slower than hackshard even though hackshard is only 15MH/s more. I've used no-ip before without issue so maybe it's just a recent problem they are having.
that is due to the glitched lottocoind daemon for linux. a few pools including myself have it patched. http://Http://lot.hackshardgaming.net running strong again. pretty fast blocks considering our pool to net rate.
Ahhh that explains it. I wish I knew that instead of wasting the last 6 hours mining there. I've always had good experience with hackshard so I am back there now hopefully for good.
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That's bad luck! Another reason why the coin is called LottoCoin!
I normally pool at hackshard but switched to lot.no-ip.biz because hackshard was down recently. Something isn't right with no-ip because even though the pool has 35MH/s, the rate at blocks found seems A LOT slower than hackshard even though hackshard is only 15MH/s more. I've used no-ip before without issue so maybe it's just a recent problem they are having.
that is due to the glitched lottocoind daemon for linux. a few pools including myself have it patched. http://lot.hackshardgaming.net running strong again. pretty fast blocks considering our pool to net rate.
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That's bad luck! Another reason why the coin is called LottoCoin!
I normally pool at hackshard but switched to lot.no-ip.biz because hackshard was down recently. Something isn't right with no-ip because even though the pool has 35MH/s, the rate at blocks found seems A LOT slower than hackshard even though hackshard is only 15MH/s more. Whats also weird about no-ip tonight is that 8 of the last 10 blocks were below 10,000. So its unusually slow for its hash rate and the payouts are very low too..... hmm
you know a nice feature to have would be.. if we could determine if the 1m lotto superblocks were discovered each day...
OMG the pool I'm on just took 1 whole hour to complete a block at over 30MH/s and the block had only 744.00 coins........ I made 8 coins in an hour! lol This increase in difficulty is a lot!
That's bad luck! Another reason why the coin is called LottoCoin!
I see many people buying @ 0.4BTC/mil on CoinedUp. They're very lucky. They'll double their investment once this hits Cryptsy.
Advice to sellers: Stop dumping if you wish for your coin to hold its value! This is not Doge
You think maybe we ought to open up a thread to announce LOT being up on coinedup..
Pros:
Price will likely shoot up..
Cons:
Difficulty will be crap...
On second thought forget i asked
Oh right anyone else not enjoying the captcha code on cryptsy.. i keep having to retype the stupid captcha...Plus we apparently get auto-logged out of cryptsy even when the page is open..
Pros:
Price will likely shoot up..
Cons:
Difficulty will be crap...
On second thought forget i asked
Oh right anyone else not enjoying the captcha code on cryptsy.. i keep having to retype the stupid captcha...Plus we apparently get auto-logged out of cryptsy even when the page is open..
OMG the pool I'm on just took 1 whole hour to complete a block at over 30MH/s and the block had only 744.00 coins........ I made 8 coins in an hour! lol This increase in difficulty is a lot!
Lotto shares the same fate as doges. I'm buying.
Devianttwo can you please unlock user hotlava? I tried making another account, got locked out of that one, then tried another and i never get the activation email.
Coin soon on Cryptsy. I'm very eager to see where this goes.
Current trading rates on CoinedUp average 0.6BTC/mil. Not bad!
Make sure to hold, still.
Current trading rates on CoinedUp average 0.6BTC/mil. Not bad!
Make sure to hold, still.
Got my pool now patched too.
Cool... we are at the 96 mark exchange rate now on coinedup
continuing previous post...
Look at doge... yes i agree its inflated and there's no real value beyond it being a meme.. but its high exchange rates are still being somewhat sustained by its increase in difficulty to mine it.
your premise that a few thousand extra coins. split between a hundred people each.. wont make a lick of difference is wrong because if as you assumed that network hash and difficulty increases.. then price should increase as well. After all, the majority wont mine if the profitability drops.
And if the prices are getting higher.. then a few thousand extra coins are going to go a long way to keep people interested in mining it..
Look at doge... yes i agree its inflated and there's no real value beyond it being a meme.. but its high exchange rates are still being somewhat sustained by its increase in difficulty to mine it.
your premise that a few thousand extra coins. split between a hundred people each.. wont make a lick of difference is wrong because if as you assumed that network hash and difficulty increases.. then price should increase as well. After all, the majority wont mine if the profitability drops.
And if the prices are getting higher.. then a few thousand extra coins are going to go a long way to keep people interested in mining it..
This is the only coin that will offer continuous interest for new miners because of the opportunity to win a big block.
Therefore, the coin will always be backed by a huge supply of miners.
Therefore, the coin will always be backed by a huge supply of miners.
Except that as soon as this gets picked up by cryptsy that's not going to be the case any more unless you're running a pretty insane GPU farm. The network hashrate right now is low at 400 MH/s which means the average joe miner with a decent 2 MH/s rig has a ~0.5% chance of finding the 1 million block each day. As soon as it's up on coinwarz and being used by multipools the hashrate is going to skyrocket and the odds are overwhelming that the lottery blocks are going to be found by a pool and split by a few hundred people. That's still exciting if you're in the pool, but getting an extra couple thousand coins in a block doesn't really feel like winning a lottery.
And nobody was arguing that these alt coin wouldn't have miners. Every coin that's listed on an exchange will always have miners because at a certain point it's more profitable to mine than other alternatives. The problem is finding reasons for people to buy said coins and right now the only one that exists is pure speculation.
But isnt that the case with every coin?
All cryptocurrency value are based on pure speculation with its value being determined by its trade against BTC and LTC.
Even BTC and LTC which have real world uses are held up by speculated values.
Cryptocurrency values are determined by supply and demand. If miners arent around to jack up the difficulty a coin will die. We want a coin gettting to 1000 difficulty. Why? Because it will give value to what is already held. Its taken 3 years for BTC to get to its current difficulty and thats its value.
Its easy to say people are gonna stop digging for gold when it costs more to get it out than its worth. But there are people who are gonna still keep digging cos they expect its value to increase. That's speculation.
This is the only coin that will offer continuous interest for new miners because of the opportunity to win a big block.
Therefore, the coin will always be backed by a huge supply of miners.
Therefore, the coin will always be backed by a huge supply of miners.
Except that as soon as this gets picked up by cryptsy that's not going to be the case any more unless you're running a pretty insane GPU farm. The network hashrate right now is low at 400 MH/s which means the average joe miner with a decent 2 MH/s rig has a ~0.5% chance of finding the 1 million block each day. As soon as it's up on coinwarz and being used by multipools the hashrate is going to skyrocket and the odds are overwhelming that the lottery blocks are going to be found by a pool and split by a few hundred people. That's still exciting if you're in the pool, but getting an extra couple thousand coins in a block doesn't really feel like winning a lottery.
And nobody was arguing that these alt coin wouldn't have miners. Every coin that's listed on an exchange will always have miners because at a certain point it's more profitable to mine than other alternatives. The problem is finding reasons for people to buy said coins and right now the only one that exists is pure speculation.
Hmm.. LOT is at 39 and steadily climbing upwards...
Does any1 know the value a coin jumps once added on cryptsy... is it around 100%, 200% or 300%..
Does any1 know the value a coin jumps once added on cryptsy... is it around 100%, 200% or 300%..
i was registered to hackshard main pool, but now that (finally!) still online i cannot login, and if i try to register i don't get the mail for registration and it says to contact the site owner 
Ok, but what makes this coin so different from Tickets or Casinocoin for example. They could be used for lottery or am I wrong?
Galimore, you're wrong. Each coin has its purpose, and LOT doesn't fail at that.
The major failure in most coins is an increasing lack of interest from miners as difficulty increases.
Therefore, at some point, most miners (but a few) will stop mining. (Reward vs Effort)
Supply of miners will soon become nonexistent, and in the end development will stall.
Now, as I said, LOT has its purpose. Why?
This is the only coin that will offer continuous interest for new miners because of the opportunity to win a big block.
Therefore, the coin will always be backed by a huge supply of miners.
What does it imply?
If you consider the above true, then we could expect, potentially, everlasting stability of LOT's price.
With a valuable supply of miners, one can't expect the price to crash radically; as I said, there will always be interest in the coin.
As an example, DOGE. No one wants to mine anymore. Think about any coin that is currently dying.
With no interest from miners, we'll see a huge drop in the price of the coin. This can't happen with LOT.
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