Post
Topic
Board Announcements (Altcoins)
Re: [ANN] LOTTO COIN - The coin thats a game! Released 12/12/13
by
C3ALL
on 30/12/2013, 19:11:16 UTC

Do you seriously have a problem with everyone and everything in this thread.. I dont know what the hell your talking about anymore..

what do you mean the house doesnt make millions? i UNDERSTAND THE 1% fee and so does haggis... do you realise that the final amount which does not get bought.. goes to the house? Thats millions... Or is there a post i missed where he states that the unbought LOTS goes to a shelter for homeless gambling addicts?

Stop treating everyone like a fool. We understand the risks and haggis is right.. 500K and 1M is low... plus there is a 7 day counter for that to happen. its no different from a person spending 500 on a lottery ticket and losing.

Your arguments are flawed.. as you have basically proven to misremember everything.. such as LOT 1 being 80% and not 110% and LOT 1 being at around 7.5 M and not 2M. You keep harping about fair play and fair gambling.. but you seem to be delusional to the idea that house always wins

Seriously.  Im trying to help out here.  There are people who don't seem to understand how the game works, or at least where the coins go.  This is why its a problem when people use script to cheat the early low level purchases.  The house wins 1% of every buy.  Thats it.

1)  Feel free to ask the owner of coinbomb (username "Redcoin") and ask if interest on LOT 1 was prevoiusly 110%.  It was.  Feel free to ask for an explanation of the rules, even though they are right there on the front page.  Ask him if he makes the several million coins when the bomb goes off.

2) Another poster has shown how the game works, just like I have.  The house does not keep all the coins when the counter reaches zero, the coins have already been sent to the last person.  As an example, Fanta has bought LOT 2 for around 1.8M.  If somebody buys it, he expects 60% interest, so where does that come from?  Answer, the person that buys it for 2.9M.  The house keeps 1% of the 2.9m (29,000).  The rest would be paid to Fanta.

I have had discussions with the manager of the site and he is aware of the issue of people cheating the low value purchases and effectively making the returns without as much risk.  He has advised that he is looking at various ways to fix this, my post was simply to give a heads up to those new players who may get caught out because of the people cheating the early purchases.  Im trying to stop people getting burned by the cheats.  If you want to apologise, feel free. If not, then at least hopefully others will at least see how the game works and understand where the coins are going.