Bitcoin Forum

Hmm.. Interesting idea but if people get some bots up and running I could see this run for years haha.

I'll stay away for now but will look at any progress made with excitement!

One Q: Who has access to the funds while it is accumulating?

No one has access. The funds are held safely in the smart contract: https://etherscan.io/address/0x2b55bbe80cf8cc8dae0380856b5bf3d1c451880b#code

Only the winner will have access. And I get a small fee per ticket bought.

Let me know if you have other questions!

That is good to know! I'm not too familiar with smart contracts hence my question.

How big is this fee per ticket? Seems to me that you might be the one winning the jackpot if this runs for a long..long time.

Also, what happens if the jackpot gets paid out? Does it restart automatically or is that game over? :D.

20%

When the jackpot gets paid out the game is over and the "savior" can withdraw the entire ETH balance!

Yikes, that seems a bit steep with the 20%! :O.

But let's see what happens.. if there's only one player and thus only 0.001 ETH in the jackpot and nobody else enters, do you still take the 20% meaning that the lone participant will lose out on 0.0002ETH?

Yes each ticket is automatically taxed. But you will probably never make a loss, since it just requires another participant to make a profit.
Just right now there are 3 participants and the game isn't even known!

If 20% is a small fee, what's a large fee?


Implying you win  :D

Anyways, very nice work, as Hhampuz said, if it goes popular, we'd easily see it running for years  :D
The fee is way too high!
20% is too much.

20% is really to high. I have few questions and seeing all the transaction it do only have recent 15 tx which shows almost identical since they are aiming for the last spot. As being questioned above what if no one joins? You said it will automatically get 20% taxed since the time limit is 30mins as far as i know (correct me if im wrong) if the time runs out then no one bets then its automatically credited/withdraw-able back with deductions? This is the first time i do see smart contract based games but checking and seeing the deduction would really put out of interest.

Not the first time I've seen this type of game, but an interesting concept. Have you considered making it so the timer reset is proportional to the size of the jackpot; i.e. the larger the jackpot the less time is added. This would ensure there is a winner in a timely manner, as 30 minutes seems like it could be prolonged indefinitely, especially when the jackpot is larger.

I haven't looked into the code. It actually needs a 3rd party audit to make sure it is all legit.

The idea is clever however it will never work because after a month or so, the pot will get so big someone will basically program a bunch of bots to get the pot.

Imagine if there is over 100 ETH sitting there. People will be constantly using bots and hoping they get the entire pot.

It needs some type of advanced captcha to work.

 

(+1)



(+1) to this and Hhampuz statement as well. I would say making a time based fee would solve it. For instance like in intial time of round say Day1 (just taking day as example) there is no fees. The next day it is 1% . Something like this.

Anyone would stay away front playing this watching huge fees (20%). My suggestion would help out this problem. Also I would say mention somewhere that TX fee is cut from the jackpot.

Hope you will thing about it and make changes accordingly which is comfortable for you and the players as well.