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It's worse than 1 in a million to hit all five. 5^16 = 1048576
After 600,000 entries it'll still be worse than 50% to have hit. I think it'll be more fun if the jackpot can be expected to hit more than once a decade.
I propose
50% of the total pool for 3 perfect hits (1 in 4096)
25% of the total pool for 2 rightmost hits (1 in 256)
25% of the total pool for 1 rightmost hit (1 in 16)
Any money not paid goes into the total pool for the next drawing.
So if for example 4096 people each did a different number we'd have
1 winner for 2048BTC
15 people who hit 2 for 68.26BTC each
240 people who hit 1 for 4.26BTC each
That seems roughly appropriate.
If you really want to stick with the 1 in a million lottery, do not trap tons of money that can only be won by matching all 5, keep it all in one pool. And a way to buy X distinct random tickets would help let it be won inside of a year, maybe. At least people could throw down 200 tickets on impulse instead of having to type them all out, or even click a buy random 200 times.
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Laundering always seems like the strangest way to describe a crime. I mean I get it, but connotation wise it just doesn't sound that bad at all.
"Yeah, the money was dirty so we cleaned it up a bit. It's freshly laundered now." It sounds like you did your chores!
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I'd measure it by the number of hamburgers they'll pay for a coin ;-)
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I really want to know where to see what would have won block 73000.
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Another option could be security deposits for new customers.  Same issue? How do they pay it? How to avoid a chargeback? Pecunix has no chargebacks, right? Someone could run a market that held a balance in BTC and GAU to avoid constant Pecunix fees from day traders. Maybe MtGox would even set that up eventually. |
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Sounds very nice zooko. Keep us updated.
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[Note: I only wanted to discuss the implications of MtGox. Mods, please delete/move to the MtGox thread if not deemed worthy]
I got to thinking: this is pretty much a bank. I can pay and receive balances from Mt Gox, and it never hits my wallet. Very cool! In fact, anyone could get into bitcoins now, and never have to download the software. Non-techies could simply deposit at MtGox and use their balances as their 'wallet'.
MtGox: I'd suggest a data output for all trades with timestamp, price and size. With this info, apps can be created for sites like biddingpond.com which give live exchange rates. Would also like to put the exchange rate on my own sites and blogs. The graphs on MtGox aren't all that, let someone else run with the idea.
Imagine someone writing a blog about bitcoins, and having a live ticker to the current value vs. USD.
I have asked bitcoinmarket.com to write an RSS feed so I am able to add it to my blog http://www.bitcoinblogger.com. He has one but it is using https and not http so I can't add to my blog. I like the blog, its on my reading list now. Ticker would be fantastic for sites just like yours. I see the progress that bitcoins are making, and can't shake this feeling that bitcoins will be huge for internet monies. Buy them now while they are cheap! If these take off and the internet is all bitcoin currency, imagine how dumb we'd all feel for not investing $100 now at 7c each? I expect to feel dumb for investing only a number with two zeros. ;-) |
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I made a third account and it gave the 2 referrers the correct amounts. Can't tell about the random bit of course.
3rd lvl would be Ground Loop as far as i see, so he should've got your 3rd share. randomness while inactivity should work as it did before, only thing i have NOT done yet is to check if random-1st != random-2nd != random-3rd, so, if sponsors are inactive, you might get choosen twice/3times randomly and so get 2/3 shares. not sure if it's a bug, or a feature?  Feature, imo  |
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3.level sponsor payment activated.
your sponsor gets .25
2.lvl sponsor gets .15
3.lvl sponsor gets .10
as before, if any lvls sponsor isn't active, an active random member gets the share (needs to be tested though).
I made a third account and it gave the 2 referrers the correct amounts. Can't tell about the random bit of course. |
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I'm basically shocked at how well this exchange is doing. Here it is, not even a month old, and the market is already tighter than 0.0005 with thousands up on each side. You have a great product here.
I hope you can make money from a source other than charging per transaction. I'm trying to keep bids & offers out there on both sides.
Agreed, It's pretty much kickass awesome. I donate whenever i have to cycle through PayPal. I must hit over 100 pages a day though, ads should be worth something over there. Not that I want to see ads, maybe I'd pay to get them taken off. Unless they were varied, useful bitcoin related ads. |
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How is leaving after first generation an attack?
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I was thinking about how you could start a network in a local area. If a person was willing to front a few dozen they could raffle them off at a county fair or something and distribute purchase info for losers. You'd be guaranteed the bones of a network if you got the right number/area.
I wonder how fax machines caught on. If I was the inventor or producer I think I'd ship out a dozen units to each fortune 500 company to jump start it.
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This might just be semantics. But I'd say that the "pre-existing value" was the expectation of some people that it would be a good money.
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I think .5 random, .25 to direct referrer, .13 to referrers referrer, .06 next, .03, .02,.01
If the chain doesn't go that deep, give it all excess to the first in chain. Does that make sense to do?
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All the "have nots" have to do is find one thing that one "have" wants and exchange. Unless you are suggesting that everyone with coins will keep them all no matter what is offered, which is just not true. Or maybe before buying a used book every single bitcoin owner will verify that they are in fact trading with someone who already has bitcoins and not letting one of those dirty "have nots" into the club. A very silly thing to worry about.
Will some people have more bitcoins than others? Absolutely. That's the point. People who provide more of what people want are rewarded.
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Maybe we could call it "old money" instead of "real money" ;-)
EURs for example aren't that old, actually. and i personally don't know anyone that does NOT use it (and will for a long time), so why call it old? If someone invented water powered, flying, swimming cars. Even the most recently produced normal car would be an "old car" :-) |
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That would be awesome, but we'd need some sort of agenda that makes it worthwhile. Maybe this will take off once Bitcoin matures a bit more and there are sufficient reasons for a conference. If you're interesting in voluntaryst/anarchist type of conferences, there are already plenty of those each year: http://freedomainradio.com/Do you know if Steph is aware of Bitcoin yet? I owe him billions in donations. Regardless, I'll send him some articles in the meantime.... Nice. I wanted to, but I don't have any relationship with him, and didn't want first contact to be about bitcoin and seem spammy. |
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The feds call the notes you pay your taxes in money or currency and this insures they dont send men with guns to kick down your door.Why would you want to conflate bitcoin with that extortion racket?If anyone asks you say that bitcoin is not money.
Pff, there was money before them and there will be money after they're done. |
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