This address does not change with each deposit request. - http://en.bitcoin.it/wiki/Mtgox#BTCThat was changed to be that way a while ago in response to pool miners asking to mine directly to their account at the exchange. |
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people do not think logically when it comes to money and specifically when it comes to gambling.
Every BitLotto draw has a winner (and just one winner) so it is not a straight comparison to a MegaMillions type of draw. This means that there is no balance carryover to the next draw if there is no jackpot winner. BitLotto pays out one jackpot of 99% of wagers / ticket sales. MegaMillions pays out a jackpot plus other winnings when 5 of 6 are won, for instance. This latest record MegaMillions had ticket sales of $1.5 billion and the jackpot was $656 million. In all that media coverage last week, not once did I see the rake (difference between total wagers and total payouts) reported. Only after did I see this NPR article which says the payouts are about 60% (i.e., 40% rake). That was enough to make the state governments salivate over this latest lotto draw. - http://www.npr.org/2012/04/03/149937075/state-legislatures-to-benefit-from-mega-millionsIt is possible that a MegaMillions jackpot could be higher than the total wagered for that draw. Because of the lucrative payoff this is one reason these large jackpots attract so many ticket buyers. BitLotto's design won't give this same benefit of having "better odds". Your odds don't change between when there is a large BitLotto jackpot or a small one. But that doesn't mean the size of the jackpot doesn't have an influence that motivates people to participate. I would venture to guess that the MegaMillions mindset would apply with BitLotto as well -- the larger the jackpot the more interest in participating. |
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In the United States, a charitable organization is an organization that is organized and operated for purposes that are beneficial to the public interest,[15] however a distinction is made between types of charitable organizations.
Every U.S. and foreign charity that qualifies as tax-exempt under Section 501(c)(3) of the Internal Revenue Code is considered a "private foundation" unless it demonstrates to the IRS that it falls into another category. In a general sense, any organization that is not a private foundation (i.e. it qualifies as something else) is usually a public charity as described in Section 509(a) of the Internal Revenue Code.[16] - http://en.wikipedia.org/wiki/Charitable_organization#United_StatesIf you are looking to set up a charity that is an eligible 501(c)(3), then Bit-Pay will handle the payments through their system at no charge: - http://bit-pay.com/charities.htmlIf you are just looking for a way to let others contribute for a particular cause and not for a formally registered charity you can handle that in whatever manner you wish, including an online wallet such as My Wallet from http://BlockChain.info/wallet If you wanted a website for that you could use something like Weebly, which is free: http://www.weebly.com Of course, fundraising is very challenging. Here's the "accepts donations" list: - http://en.bitcoin.it/wiki/Donation-accepting_organizations_and_projects |
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The idea
Project to recover identity of bitcoin users. Scanning web pages for bitcoin addresses, identifying them with people, and also scanning bitcoin transactions to try to reverse engineer which bitcoin address belongs to which person.
This might work for those who use a static address. So maybe this will work for those who accept donations or for those who share their data. But for others who use Bitcoin in the manner it was architected (i.e., new address for each incoming payment), do you think you'll have any clue who they might be? |
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I'm all set to open an account with an exchange service. Mt gox seems to be the most popular but I wanted to know what the alternatives are. Thanks for any input
The advantages and disadvantages of the different options will depend on where you are, what payment methods you use. - http://en.bitcoin.it/wiki/Buying_bitcoins |
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The winner appears to be:
0023da9af152f9dd17501b060df7d5dbd762ca880cb3e731e40c391af34aadf7
whose Bitcoin tx was:
277a5da2a46b0ba9ddaa33fa374bd9acd4a0ea227badf5d3e3d14d9a05238c81
1DW4mtFwkLAbfc4ZBvcXypeV6NhfDryrni
Payment was made: 2012-03-29 17:19:58
These are the unofficial numbers and need to be double checked but the results are likely correct.
Looks like that player bought 10 tickets in a row and the winning ticket was the first of the 10. So about a 112X payout (280 / 10 / 0.25). i.e., could have quit right after one ticket and still won and had a 1120X payout  |
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We're very open to feedback and should this decision be not well received, we'll take it back.
You might instead (or as an opt-in alternative) consider a BTC deposit to act as an incentive to the buyer to follow through promptly. If the buy isn't completed within 24 hours or something like that then assess a fee against the deposit. Just needs to be enough to suffer a penalty that is greater than the gain made from backing out. |
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mitigate risk to the greatest reasonable extent.
Mining used to be a form of speculation that was slightly less risky than buying and holding BTCs outright. Now that GPUs are on their way out, and FPGA boards don't hold their value compared to how GPUs did, an investment in mining is becoming nearly as risky as the investment in BTC or a greater risk even. So the terms "mitigate risk" and "bitcoin mining" are not to be used in the same thread. |
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On checkout of an item you have listed, the checkout page shows: - Send money to the seller via their preferred payment method. giftcardseller wants to recieve payments via:
PayPal Email:
We don't have the sellers PayPal Email. Please contact the seller
Dwolla Email:
We don't have the sellers Dwolla Email. Please contact the seller
19E7w3fFvsvLyKwbhdbvvPjRXiSgdc9Mg3
If that gave instruction like "Send nn.nn BTC to the Bitcoin address" that would be good. Or just put the title above the Bitcoin address so that the customer would know what that is about. |
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Now that Bitcoin has P2SH / multisignature capability, one of the last remaining valid criticisms can be addressed. Right now, those buying tickets are trusting that the operator will truly make the payout.
With M of N signing, the funds from ticket purchases can be swept into an escrow that would require two of three signatures. So if there were say two additional trusted parties then there is no longer the risk of no payout say should bitlotto's operator become unavailable (as the two trusted parties could make the payout transaction to the winner), for instance. At the same time the jackpot would more protected as to make any payout would then require signature from at least one of those trusted parties.
Though BIP 16 / escrow is technically possible now, the GUI clients aren't offering it yet so this isn't something that would be implemented anytime soon. But I wanted to see if this would be something BitLotto would consider down the road.
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Looks like the BoA building is estimated to use 6.5 megawatts of electricity.
Coincidentally, that one building would be just a little less than all Bitcoin mining combined. |
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