Well, this hasn't picked up any interest anyway. I figured it would be a fun thing to admin. But I consider this cancelled at the moment.

I was stating that the grand prize would be returned to the original address the winner used to buy the ticket.

I had planned to enter each address (* number of tickets per person) to a pool using a basic random number generator to choose the winner. Most likely by random.org data.

I had no intention of holding any stake in winning the lotto.

Now that mining is not profitable for me I wanted to keep BTC relevant (and fun) in some way. I've decided I will administer a Daily Lottery and pay out Daily Grand Prizes. 0.1 BTC buys a ticket (no limit on the number of tickets per user), and a winner will be selected via random number generator and receive a Grand Prize pay out. These tickets are very cheap in order to lessen the risk as much as possible for you since this is new. In this way we can build credibility and if this works out well I will conduct this long term in a professional manner. Details below:

Buying a ticket
-Cost per ticket: 0.1 BTC
-Purchase address: 139PFXe84juvP4BozG6AZuREjCK96ap2Hu
-Once sent, you will automatically be entered to win the grand prize.

Entry notes
-For now, grand prize drawing times will be randomly at the end of the EST day, or at least based on volume.
-The grand prize will be announced prior to picking a winner.
-If tickets are purchased after lottery has been closed for the day, your ticket will be applied to the next drawing.

Prize distribution
-Grand prize winner will be paid in BTC through their original sender's address.
-For now there will be no administration fees taken out of the prize pool. If this gets popular enough from the daily drawings we will announce a % fee.
-Winners are encouraged to announce their winnings here to build credibility!
-If it becomes necessary to prove winning pay out we will publicly announce the winner's bitcoin address. If this concerns you, please purchase your lottery tickets using a different address.

The Lotto is now open, and the first grand prize winner will be picked tonight!

Thank you and GOOD LUCK!

Thanks guys. I uninstalled the old and installed the new. Coin still showing and no mandatory fee when sending to TradeHill. Now it gets more exciting..

I will look for that version and replace mine until they've fixed the newest version. I was a bit paranoid (from lack of experience) to uninstall bitcoin/reinstall an older version at the fear of losing my BTC but I'll take the risk.

I had asked that question earlier. I hope it does get changed soon too. I was thinking of a lot of innovative ways to develop for bitcoin in the future, many of which would require mass micro payouts (0.1 at least).

Another gripe I had about it was that someone told me the fee goes back to the person who solved the block, but in my case (and many others) we were a part of pools that mined those blocks. Who in that case gets the fee?

Hopefully in the future mandatory fees will only be imposed to abusers.

Sounds good!.. I will probably be a bitcoin small fry for a while

 

I understand, thanks for your help!

Garrett,

I appreciate your info as it pointed out some things I didn't know, but don't tell me I have to read academic papers before I'm allowed to point out obvious user problems (one that you've agreed should be optional). I represent a new user with interest. I've been reading all about this for the last 24 hours heavily, and I didn't come across a page that discussed the reason or the problem with the fee in bitcoin client.

P.S.- If people want this to grow it must be criticized for it's problems so that they can be ironed out for mass adoption.

I have begun experimenting with bitcoins. I've mined my first coin and was going to send 0.1 (approx $3 current value) to my Tradehill account to test the waters there with my first trade. This is when I noticed something terrible, it asked me for 0.01 (mandatory) fee to send the 0.1. 10% fee on a $3 transaction? I realize that I could send more, or wait until I have more... but I personally find this to be unacceptable. What if I wanted to send $1USD worth of bitcoin to someone? That's pretty much out of the question. I realize there are wallets out there, and that bitcoin is supposed to represent a backbone, but I thought this was supposed to be free and righteous and all that. I thought this was decentralized? Is the fee covering an infrastructure? If not, I will donate when and what I want to, but forcing me to send a a hefty % into the authors pocket almost has me turning away from this experiment. Hopefully this is just something I'm doing wrong and someone can guide me to clarity. Also, sorry if this has been posted before.