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Firelotto – a Blockchain based lottery that puts the stage on Fire

Santhosh M



Lottery - Firelotto
Source: Flickr

Firelotto joins the long list of organizations utilizing and implementing the blockchain technology to innovative use. Firelotto uses the technology to conduct unbiased lottery made available to the public. The company has opened up for token sales and would be open till March end.

The company has a finished prototype and has already been launched. Firelotto feels they have an edge over others because as compared to many organizations that venture out into the market without even having a prototype, Firelotto has a completed product.

FLOT will be priced lower during pre-sales and the token holder will receive a commission from tickets sold from every drawing.


One of the obvious problems solved by Firelotto is the transparency cloud that looms over any lottery system and algorithm. It has been proven that all the algorithms are centralized and the owner owns the right to use the lottery pool but in Firelotto the algorithm is built on the Ethereum blockchain and uses a Bitcoin decentralized protocol to generate a secure Random Number. Moreover, the program code is available for inspection.

Romano Gonsalvez, a professional poker player from Goa spoke to AMBCrypto and says,

“I have seen many ICOs and blockchain companies coming up with ludicrous ideas and I generally stay away from them. Firelotto, on the other hand, seems different and promising, they unlike others have their tech ready and is not in the air. I think this will definitely be a hit especially with good tech backing that they have”

Firelotto feels that they have developed an easy to use customer interface so that services can be utilized by even people who have only basic computer skills. It has a one-click buying mechanism which saves time for the users.

All that a customer needs to do is just purchase a ticket which will cost them around 2 USD (approx). Then the lottery pool is formed and gets funded by the money people have invested in buying the tickets. The random number generates the winner’s number and the lottery prize money gets automatically transferred to the winner’s cryptocurrency wallet.

The company has rules and regulations framed for the campaigns and also offers 4 types of games that includes 4/20, 5/36, 6/45 and, Roger’s Wheel. The regulations will be made available to all the buyers by the start of March.

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Santhosh is a full-time reporter at AMBCrypto. He is an engineer with a major in Mathematics and Computer Science. He developed a key interest in the blockchain space and has been studying and researching about it ever since. He is currently authoring a book on Blockchain and its use cases in the Education domain. He currently does not hold any value in any cryptocurrency or its projects.

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How much more will Bitcoin [BTC], Ethereum [ETH], Ripple [XRP] and other cryptos drop? – Sunday Sentiments

Sanchit Ameria



How much more will Bitcoin, Ethereum, Ripple and other cryptos drop?
Source: Pxhere

Bitcoin has been slowly crashing in the market proving every exuberant investor that it truly is highly volatile. Yesterday’s Sentiment Analysis revealed that the community was feeling the bearish pressure and felt that the market could drop further.

From the past two weeks, crypto charters have got their analysis proven wrong since a lot in the community believe that traditional assets indicators would generally not apply to crypto assets as they do not fall in the category of “traditional assets”. Our Sentiment Analysis segment is a daily look at the current emotions of people involved with the specific token, be it investors, miners, influencers or skeptics.

Bitcoin has gone back to trading to its Feb 6th prices at $7300. Although there have been multiple articles clarifying that the Mt. Gox sell-off did not trigger the price drop, the markets have been skeptical and many believe that the Mt. Gox news has acted as a catalyst to the current dramatic drop.


Whenever Bitcoin takes a huge dip, all the other altcoins take a huge dip as well. This time, it was no different.

According to CoinMarketCap, Bitcoin is currently trading at $7400 with a market cap of $125 billion, dropping by only 7% in the past 24 hours while Ethereum surprisingly has gone back to trading to its early November 2017 prices to trade at $461 with a dramatic drop of almost 20%.

Ripple [XRP] is trading at $0.55 with a market cap of $21 billion and is currently at its December 2017 prices.

Bitcoin [BTC]:

Caleb Mulder, a Bitcoin evangelist and a miner from late 2015 says,

“I just read a news that said, BTC could hit $91K looking at the past historic dip. One thing people forget is, there is no “crash”. Never happening, because I will be there to buy all the Bitcoins if it ever even reaches close to a 100 dollars.”

Raju Khanna, a Bitcoin fanatic from Ahmedabad says,

“It is depressing, yes, but I suddenly feel excited and pumped. Just got some more Bitcoins. Maybe we hit $6K but I think that’s it, huge buy walls will come in from there”

Dr. Chandler-Henry, a cryptocurrency investor from Calgary says,

“I may decide not to invest my additional $30,000 after all. I have lost $200k already so why would I want to lose more. I’m out of this game.”

In conclusion, out of the 23 respondents, a surprising 70% of them feel that the bearish grip could be over in the next 24 hours. They feel that prices could start bouncing back up and start consolidating at the $8K again, while the other 30% felt Bitcoin could see a further drop to $6K or even further.

Ethereum [ETH]:

$carface, a trader, and investor in cryptocurrency says,

“I’ll be honest – I’m super close to exiting everything, including cold storage and hedging into dollars. This is a slow bleed with no end in sight. I can’t imagine how newbies feel who bought the top.”

Joseph Cameron, an ICO advisor spoke to us and says,

“The grapevine informs me that some major ICOs are dumping their ETH for regulatory fears. If this is true then a some big chunks just got dumped. Really bearish on Ethereum for the next couple of days.”

Jacob, an Entrepreneur, Blockchain analyst and researcher says,

Jacob's tweet regarding the current market situation

Jacob’s tweet regarding the current market situation

In conclusion, Ethereum folks were just distraught. Almost 65% of the respondents felt that the bearish momentum for Ethereum is still not over and could possibly see a break to $350. Some of them believe the rumors about ICOs dumping ETH to be true. There have been Twitter accounts over the past few hours that have suggested the same.

Ripple [XRP]

Karan Chawla, a Ripple and Cardano investor says,

“It really is a dump market now. Ripple is in the dump mood. It’s definitely going for the ride down to $0.45. Still going to HODL, no FUD bring me down.”

Cryptobuddha, a Twitterati says,

“The G20 meeting result will likely crash $BTC price even more.”

Lary, another Twitterati has a different opinion on the same says,

“You’re all gonna be pissed when the G20 announces Monday that the IMF is replacing SDR’s with $BTC and $XLM in the new world currency.”

Roland Wright, an XRP believer says,

“XRP is a token that is going to be number 1 soon. BTC, ETH and everything else will wither and die. Ripple is the only company that has so many partnerships. I think Ripple has hit bottom, I’m looking at an upward growth from here”

In conclusion, the Ripple respondents were divided with one half supporting the possibility of it rising against the trend and the other half just not interested in the token anymore as they believe XRP could possibly go even further down to early November 2017 prices.

Some investors are still very optimistic about the market and are clinging to the hope the market price will shoot up real quick and the golden days of Bitcoin will be back.

While there are some people who believe that the G20 conference will make a positive difference, some believe that the market will continue to drop and all the investors who are propagating HODLing will also start selling off.

The community as a whole seems positive about Bitcoin in the long run and believe that Bitcoin has faced such drops before where it took almost 8 months to recover and break to new heights thereafter.

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Fake email imitating PayPal “warning” against Bitcoin and crypto purchases spooks users

Sthuthie Murthy



Fake email allegedly from PayPal spooks users
Source: Pixabay

PayPal users received an e-mail with a warning message asking them to cease any cryptocurrency related activity.

John Wesley, a PayPal user commented to this Cryptocurrency warning:

“I am holding an account from 17 years and just out of nowhere I got an email linked to my message this morning.”

He was among the almost 200 million users who received official emails from the company with a letterhead that was titled ‘Cryptocurrency Warning.’


The message read,

“While reviewing your account, we noticed that your activity involves the trading or transfer of crypto currency which is prohibited under our Acceptable Use Policy. As this is not permitted on the PayPal platform we ask that you cease any activity that results in the trading or transfer of crypto currency. If you continue to engage in this activity on PayPal, we’ll be unable to continue offering our services.”

PayPal Holdings, Inc is an American company that is almost two decades old which operates online payments system across the globe. It is an alternative to traditional paper works and other payment methods as this is completely digital and electronically handled. Many huge online vendors, auction sites, and commercial users operate with PayPal for payment for which the company charges a nominal transaction fee in exchange for benefits.

The email

The warning came with a pre appreciation message.

Many users who tried to reply or contact the company officials have noticed and reported that the emails were not genuine. The company’s customer care officials have also replied to users who tried contacting them, confirming that the emails were fake.

The company has not given out any official statements as of now and has requested for some time. They said they will address one complaint at a time as they do not want to whip up a frenzy.

What tricked the users was that the mail was looked legit and instilled fear in everybody. There are speculations and skepticisms in various reddit forums saying this is indirectly related to an attempt to manipulate prices of Bitcoin.

Here are a few user examples who received emails:

Sushanth posted on a forum,

“I got this message from “” addressed to my name with proper text and graphics. It fooled me until I called their phone support to verify it’s fake. PayPal confirmed to me over the phone that the email is fake. PayPal is not banning accounts with cryptocurrency activity. This is a sophisticated attempt to manipulate the price of Bitcoin.”

David Veksler of the Foundation for Economic Education and the Atlanta Bitcoin Embassy explains:

“It appears to be legit, I checked the from address and the DKIM. Then I called PayPal support and she said that from the email address, it does not appear to be legitimate. She then checked my account and said that it is fine – there are no flags of any kind on it. I then posted on the Paypal community site and Reddit, and a bunch of people replied saying that they got the same email.”

A forum commenter questioned, to which another user insisted:

The most recent explanation by a PayPal user was –

“The email address from which the email was received was and not paypa[l].com. The capital ‘i’ was confused for ‘l’.”

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