[ANN] [888] [SCRYPT] OctoCoin ◦ The Power of Eight ◦ Don't Blink

[syncsam]

A single user has been pushing 300Mhash on fedaykins pool for the past few days atleast. At this rate, he's getting over 40k octos per day :O. The asics are really going to "fuck shit up" when the dumping starts. I'm kind of worried about this.

I don't think he will dump, he previously mentioned renting rigs because he couldn't buy enough on the exchanges

Not the same person I would think.

The way I see it is he is collecting coins not dumping.  He had 2 ways of going about it, raise the prices on the exchanges and not get enough coins for what they were after, which may have bumped the multi pools into action mining and dumping the coin. or he could raise the hash rate himself, which has 2 effects making the coin less attractive to multi pools, the price  hasn't risen to high yet and the hash rate increases leaving it less profitable to the multi pools, while the person in question can collect the coins he wants

but that is just speculation

<edit> and there is no use worrying about it, you can't control someone else's actions, only your own

[frameLAlife]

I think only a select few will dump early. It really depends on the volume of buyers and how much return they are looking to make.

Just to speculate, once it hits mintpal or cryptsy, at what prices do you think people will begin to dump?

Once again, if you believe this is a pump n dump coin, I can see why you would worry. You miss the top price and get stuck holding in a dip like many do and you may have lost all of your investment. However, if you really believe that octo will deliver some long term value, you should have plenty of price points to sell at. You might sell a few thousand at 50 cents to assure your return. You might sell a few around a dollar if you believe that's the peak. Some will stick around to see if Octo reaches the heighth of other FusionHash coins (Anon and Mega). We have seen super high prices with volume from those two coins (despite their sub $1 price points today they were both high dollar coins last year. they also both stick around the top 30 on coinmarketcap which is impressive for the longevity.)

I truly believe Octo and Murraycoin will both hit their strides soon. I have been invested in both for awhile and I just can't see going wrong. 

[syncsam]

I think only a select few will dump early. It really depends on the volume of buyers and how much return they are looking to make.

Just to speculate, once it hits mintpal or cryptsy, at what prices do you think people will begin to dump?

Once again, if you believe this is a pump n dump coin, I can see why you would worry. You miss the top price and get stuck holding in a dip like many do and you may have lost all of your investment. However, if you really believe that octo will deliver some long term value, you should have plenty of price points to sell at. You might sell a few thousand at 50 cents to assure your return. You might sell a few around a dollar if you believe that's the peak. Some will stick around to see if Octo reaches the heighth of other FusionHash coins (Anon and Mega). We have seen super high prices with volume from those two coins (despite their sub $1 price points today they were both high dollar coins last year. they also both stick around the top 30 on coinmarketcap which is impressive for the longevity.)

I truly believe Octo and Murraycoin will both hit their strides soon. I have been invested in both for awhile and I just can't see going wrong. 

Totally agree here, I have my set points already worked out for where I will sell some and how many I will sell  (So I will make a decent profit) and the rest I will keep until some point in the future.

[bholzer]

This is going to likely be one of the rare coins that won't have a big initial dump following the (inevitable) rise just because the rise will surely remain slower and steadier than average (if history tells us anything) and there really aren't that many coins out there (< 25,000,000 right now with only 86,400 new coins being minted each day... and even that will drop a bit at some point soon I believe). I mean, I deposited a bitcoin in Bittrex yesterday hoping to buy up enough 888 to finally put me over the "magic" 1,000,000 mark and literally just kept moving my buy order to the top of the buy book over and over - I got ~1,100 888 so far - it's crazy. I keep waiting for somebody to just unload a chunk but nobody ever does. I got impatient and (stupidly) dumped around 50k yesterday to knock the price down a bit before I put my buy order back out (hoping to induce a brief mini-panic and have somebody fill my order) -- didn't work  

So now I have fewer Octos than when I deposited the bitcoin and I've come to the realization I'm not going to be getting any bargains. Obviously things are pretty under-valued and we're flying a bit under the radar which is great for everyone currently involved. I pulled my buy orders off the books and will just have to attack things strategically and put some elbow grease into it. I've literally never seen a market where it's this difficult to buy - you can snag a little bit here and there but you can't put big buys out and ever expect them to get filled. Beyond that if you want to scoop up some sell orders, a decent-sized buy could jump the price up 20% or more. I know I sound like a broken record complaining about it but this is a very difficult coin to acquire. It's been difficult to mine almost the entire time and I was hoping for a chance after the reward reduction but the network speed just kept chugging along making it even more difficult to mine.

I have no idea what to expect for future value - it will really depend on how things unfold. I know the "main crew" in this thread alone probably hold 30% of all of the Octos and nobody is going to want to sell them until we see what's in store. Beyond that, there is hardly anything else worth buying right now. I've been buying Murraycoins (my own coin!) for the better part of 3 months and have about 40% of them now - I think it's time for a break    Not that I don't believe in my own coin - it's nice knowing I can trust the dev (which isn't always the case these days) - but I need some exciting plays as well that don't completely rely on me to take off.

Everything else has either laid all of its cards on the table already (and not impressed me), or, in the case of Litecoin, still has plenty of potential but is just slow and boring. I believe LTC is quite undervalued right now but I have a decent stash of LTC and it's just not that exciting. I purchase BTC at the end of every month and typically I liked to put half of my BTC into alts; lately, I've just been sticking with the BTC other than the few Murraycoin buys and my failed attempts at acquiring 888.

With everything else getting a bit stale I think this thing is going to explode once they start releasing their projects, get listed on MintPal, and start marketing. Like I said before, this is probably the most stable altcoin value-wise over the past 3 months - a few little spikes and dips but not the usual 1000% rise followed by a 2000% drop we're used to seeing with every other coin. It's also really hard to acquire. People want Octos; that doesn't mean they won't try to pay the lowest possible price but, at least in my experience, putting out buy orders is hopeless even if you're on top.

[karkkis]

Ok, I'm currently at about 250k but as a student this is already far above my money risk threshold. Now I'm just not sure if I should bet my last shirt on this coin...
IF the market cap reaches a value of say 10m, which is a realistic number IMO, then I'll be sorry not to have bought some more octos, when I had the chance.

On the other hand, if I take the profit then, spot another octocoin-like promising coin in the future and reinvest, this would be much safer.

What do you guys think: all in and hope this will be a one shot, one hit? Or play it safe?

If something is a above your risk threshold you are in effect gambling, and the game could go every which way, because you have intense feelings about it, and are bound to make mistakes and panic moves. Sort of. Unless you are a brilliant chess player.

If you are not sure if you want to bet your last shirt, then you really don't want to do it ! You have plenty of Octo already, so you should be happy.

Never bet more than half of what you can afford in a single purchase. I recently was tempted to go "all in"... I almost put everything in on "sure thing" investment.. however, even though I was tempted to go all in, i didn't, because I had my rule " never bet more than half of what you can afford", and guess what.. the investment turned out to be dud, and I lost 1/3 of that investment... boy was I happy that I followed my own rule...

I think you should diversify your alt coin investments a bit more. It just makes sense, because in alt coin land strange things can/will happen between eye blinking. - so don't blink   

Just try to find a coin that gives you the same vibes as Octo (hard), or you think that has some untold potential ? (many)

Good luck!

[deepcoreotc]

how many in the community listens to and follows Andreas Antonopoulos?

[frameLAlife]

how many in the community listens to and follows Andreas Antonopoulos?

I would suspect most.

[deepcoreotc]

how many in the community listens to and follows Andreas Antonopoulos?

I would suspect most.

I would as well, yet you know assumptions and all..

[syncsam]

how many in the community listens to and follows Andreas Antonopoulos?

No idea who that is

[deepcoreotc]

how many in the community listens to and follows Andreas Antonopoulos?

No idea who that is

I would highly recommend going to youtube and do a search on his name.  Watch as many of his vids as you can.

[djslick]

ummmm, i just blinked. and now we're over 1600.   

i've been told i shouldn't do that.

[frameLAlife]

i've bought a few.

[bholzer]

ummmm, i just blinked. and now we're over 1600.   

i've been told i shouldn't do that.

Don't do that man!

[joshycoin]

I've been in Octo literally from day one. It's so rewarding to see the price creep up. The first round in Vegas is on me, cheers!

[deepcoreotc]

[thenotfatguy]

Since when did OctoCoin get to spot #12 on Mintpal?

^{Looks like i must've blinked}  

[Bluestreet]

Since when did OctoCoin get to spot #12 on Mintpal?

^{Looks like i must've blinked}  

I have been following this coin, mintpal removed votes from all coins where votes from multiple accounts coming from same IP address, 888 obviously had a lot less of this but you can see the bot votes Zimstake has been getting have not been removed as they use different IP addresses for each vote.

So if anyone is creating more accounts and voting from your same machine, don't, as they will be removed. I tried this with other coins so I know

[swainzag]

Since when did OctoCoin get to spot #12 on Mintpal?

^{Looks like i must've blinked}  

I have been following this coin, mintpal removed votes from all coins where votes from multiple accounts coming from same IP address, 888 obviously had a lot less of this but you can see the bot votes Zimstake has been getting have not been removed as they use different IP addresses for each vote.

So if anyone is creating more accounts and voting from your same machine, don't, as they will be removed. I tried this with other coins so I know

I would say there is no rush at this point to get on there.  We can see right now but looking at hash and price that 888 is in demand.  Who knows how high it might skyrocket once it hits Mintpal.  That being said......I should buy some more!

[djslick]

looks like we lost about 500 votes, but others lost a lot more. zimstake however didn't lose many, they were at 20200 or so lastnight, they have gotten the vote out probably better than any other coin that i've seen. would love to emulate their success. they already got 1000 votes since lastnight after jackpot coin paid 4 BTC for 4000 votes and overtook them for #1, they rallied their troops and got 1000 legit non-payed votes in about 12 hours. I know they had some sort of givaway for mintpal votes, but i thought that ended a week ago? Would be worth doing a case-study about to see if we can implement any of their strategies into our push for votes. the coin on it's own is kinda a joke, but that's their schtick, so whatever. Looks like the big looser was Aidencoin, they were #2 i think, now they're lower than us.

our hashrate has been going up alot though, probably due to the increasing price... good to watch these metrics to see if a higher price push quickly just attracts multipools. if it's other people investing in octo then that's obviously a good thing, but i think that we don't want to be a "go-to" coin for other multipools to just get profit to exchange for BTC, this is a possible issue going forward, as we're not a "1-week PoW, then PoS" coin which seem to be popular ever since blackcoin kinda invented that format. By constantly having PoW we could be the target of multipools who would just dump the coin back to us (maybe not terrible?) and thereby lowering the price (maybe terrible?)

I mean for our price to go up, we NEED a higher hashrate, so that it does not become too profitable for multipools, i just wonder what the ideal pace is... if anyone could PM me some metrics i need to consider, i have access to an astro-physicist who can churn out some equations for me. used her to figure out what the ideal ratio of mining power to total network hashrate for max profitability ))

[OctoCoin]

Cream always rises to the top.

We will be rising...
...as the rest are falling