Bitcoin Forum

Hello all,

maybe some of you know I am selling silver bars at bitcointalk

https://bitcointalk.org/index.php?topic=307826.new#new

I have idea about raffle. Would someone be interested in ?

Basic rules: (fixed number of tickets, sorry my fault)

Prize: 100grams of Silver (100x1g bar)
Number of "tickets" = 50
Prize of 1 ticket = 0.01 Btc (for this round of raffle)
Max 5 tickets per username

Raffle will start in a few days

Winner will be randomly chosen when 50 tickets will be sold.

How to choose winner ?

Lets say there will be "magic number" between 1 - 100 and this "magic number" will be chosen before raffle begins and some gold member can choose this number to prevent any manipulation from my side :)

Every participant will have to guess this number .. 1 ticket = 1 guess ....

Winner will be the one, whos guess will be nearest to this "magic number"

Example:
Magic number is 65 ....

Everyone who ownes 1 ticket (1 guess) ..or more tickets (2 tickets = 2 guesses) will guess their numbers ... like 1  3 4 6 9 10 59 77 99  .... so number 59 is nearest to magic number so person who guessed number 59 is winner ...

I will send 100grams of silver to winner :) If there will be interest in raffle, we can make another round anytime in future.


Would someone be interested in such raffle ? :)

PS: please correct my grammar mistakes :P thank you

Thank you for your idea, I was thinking about that, but in such situation, (0.01 per ticket) ... there needs to be sold 50 tickets and it can take long time until all tickets are sold ...

Yes, and you should only allow 1 ticket / person.

Yeah Id play for 0.01 but Im not going to throw away 0.05, I think you would sell the many smaller entries faster than a few large entries.

do you think there will be 50 people willing to enter raffle ? I dont think so ... I can try lower it to 0.01 but allow to buy more then 1 ticket by 1 person .. hm ?

lower price, more tickets, max 5 tickets per person.
more people = more fun!

This sounds like a good compromise!

I understand your idea boys ..but ...

I am afraid that 50 people is too many. We can find 10 - 20 maybe 30 people who would like to participate and what then .. we will wait 1 - 2 - 3 months to start raffle until all tickets are sold ? :)

Allow few days to settle down this topic, I can change rules as you mentioned (0.01 per ticket and 5 tickets per user) and we can try 1st round then :)

any other ideas or tips .. ?


Can we start 1st round of raffle ? :)

1 person can still buy 5 tickets and fill 10% of the tickets, can they not?

How much worth one ticket ?

yes we adjusted rules that 1 person can buy max 5 ticket as you mentioned ... you think thats bad idea ?

0.01 Btc - its mentioned in first post :)

sounds interesting.. waiting for to get start there ;)

would this be legal? paying the raffle ticket with btc and getting silver as a price?

Current 100 g of silver = about usd $65

10 x 0.01 btc = 0.1 btc *$450 = $45.

$45 - $65 = -$20.

Did I get my math right?

You are actually making a loss based on the current market price for both BTC and Silver?

fixed number of ticket to 50 - sorry my fault, now everything looks like be allright

there are 50 tickets ...

no I am not making loss ...


and 100 g of silver for 65 is spot price, if you have real bullion silver price is higher, if you have 1 gram bars - productions costs are higher so price per gram is also higher

100x1 gram bars are not best for price per gram ratio .... thats fact, but they can be easily divided to 1gram bars ... with 1oz or 10oz or 1 kilo full bar ..dividing to smaller ones are not so easy


my 100x1g are selling for aprox 160 usd (ebay etc)
1000 g bar is selling for aprox 1000 usd

you can see there is better price per gram ratio, but small 1gram bars have advantages mentioned above

Any other ideas ? If not I would start 1st round of raffle tomorrow :)

yes exactly. max 5 ticket per user

And how do you enforce the 5 max? Some people have 2 accounts, or more. If they pay, let them have the same odds.

so 5 max cant be guaranteed? so every one can buy how many tickets he like? what will happen if more than 50 tickets are sold?

good idea but like this you will punish new accounts. how about no max tickets and in case there are more than 50 tickets sold those tickets over 50 will go to the next raffle?

IMHO every one has a fair chance if there will be 50 tickets max and not more. so everyone knows his chance. if I want to buy one ticket only I have my fair chance even if some one will buy 10 tickets as long the 50 tickets are in place.

a, yes of course when 50 tickets will be sold ... I wont sell 51st, 52nd ticket ... when 50 are sold then winning ticket will be chosen.

b, I dont think it is necessary to have rule "minimum 25 posts" to avoid multiple nicknames from 1 real user. Because If someone buys 5 ticket he has 5 times bigger chance to win, but he also spent 5x0.01 btc .. so his odds are same as for 1 ticket.

As I mentioned above, I am afraid that there wont be 50 unique users who would like to enter raffle so I wont get 50 tickets sold, therefore I would like to set rule that 1 user can buy up to  5 tickets. I would set it to 10 but you wanted 5 so .. lets keep it at 5.

Everyone who buys 1 ticket has right to choose 1 number between 1- 100 ... if you buy 5 ticket you can choose 5 numbers, so odds are same. (About magic number please see my first post of this thread)

So user who buys 1 ticket doesn't have to be worried he has lower chance to win that user who bought 5 tickets. Odds are same .. ok ?


Any other ideas ?

You need to have one raffle and see if You will sell 50 tickets. if You dont sell 50 tickets You will refund the ticket buyer.
I would not limit the tickets to 5 or 10, I propose no max limit for ticket buyer. one can buy all 50 tickets and win for sure. would this make sense? IMHO No.

tonino

I also think that limiting to 5 or 10 has no sense, will see if someone is interested in more and possible 2nd, 3rd round of raffle should be without limitation


any other ideas ? if not ... I will set magic number in cooperation with some gold member and raffle can start

oh my I forgot this raffle .. omg :D


so may we start soon ? :D 1st test round :P