Quote from: lumberinvestments on February 01, 2014, 07:21:45 AM

Hi everyone.
Would like to tell you that I have been with lottocoin from the start, but the sad story is that the developers are working together with online casino makers in order to rip people off.
The lotwincasino that they advertise in their starting page is a complete SCAM and rip off, giving you 15 blacks in a raw when you put red so they can harvest as many lottocoins as possible.

The developer 'MrLotto' is saying that we only say these because we are upset that we 'lost money' in that casino (clearly supporting the casino) but in fact, out of the total of 14 million lottocoins I was playing maybe 100K but in many hundreds of games to figure out if it is really a scam or not. Thus I consider 100K lottocoin a very small amount and I do not regret losing it as I found out the truth about that casino, MrLotto and all this coin.

As of now I have sold every lottocoin I had and I advise everyone to do the same as mostly probably the next BIG GAMES they scream about coming in next week are rigged as much as lotwincasino, they just announce many things every week to pump the coin again.

This is only a pump and dump coin and many on the start thread are agreeing with that even if they have been supporting lottocoin from the start.
When they tried to make creative and supporting criticizing, they were sweared at, called that they spread FUD and so on.

As a matter of fact now I am banned from the thread, because they find me 'not supporting the coin' after I have thrown many megahashes at it with the intend to hold the coin for a long long time, maybe even one year plus, with no intention to pump and dump it immediately.

I wish them luck, but people holding lottocoins should know exactly what this coin is about and research more to see that the devs and the online casino owners are somehow related.
They have even bribed one guy to forge the poll results where lottocoin would be added in some important network payment. That guy was having multiple accounts in bitcointalk.org and clicking thru proxies the lottocoin radio button.

This is their way of 'raising' the coin which you can't see in many other coins. I think it is the most rigged coin of all and I advise everyone to get rid of it as probably it has no chance of survival in the future. If you are choosing to hold this, you are choosing to support this network of people that look only into their profit and you will probably not be able to profit. This coin is dubious and I would not trust it for the future.
I would rather keep my money into BTC than buying lottocoin.

Thanks for listening and I know that some other people will come to support me regarding this matter .. also you can read by yourself all the conversations in lottocoin starting thread to see that everything I say is true and they are just sketchy ...

Lottocoin is premined crap with no open book for premined !!! Careful where you put your valuable BTC !

Hello mate.

Casinos are profitable based on maths. So I want to prove you that you are vary wrong.
Just to mention that I dont know that website nor the devs of lotocoin or website owners.

As I checked on website they use American roulette, which mean have dubble zero.

The chances for a Double-Zero Roulette is 47.37% on Red or Black and 5.26% on greens (2.63% on each) (source)

So I wrote a little javascript code to take for example 100000 spins (with that odds) and count how many times the same color picked in a row.

And here are the results:

Code:

Picks Percentage Same in a row
Red 47.508 12
Black 47.242 17
Zero 2.673 2
DZero 2.577 1

Of course you can check my code and run tests here: http://jsfiddle.net/4Q65v/1/

So, giving you 15 times in a row Black, its normal! Its simple maths and chances.
You probably used Martingale strategy to earn some easy cash, but those strategies in long term fail cause of the edge on roulette. (thats why they have zero(s))
If you had more money to afford to double your bets on every lose then you can win that edge, but its impossible.

I dont know if you have gambling problems, you know better, but get a pen and do some simple maths. Then accept it.

My 2 satoshis.

Oden

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