Introducing PevPot.com The Bitcoin Lottery

[Rilla]

Hi,

when will be the results published?

Also, can you explain the "Early bird bonus pool" a little bit more? Is this something new?

[dooglus]

Hi,

when will be the results published?

Also, can you explain the "Early bird bonus pool" a little bit more? Is this something new?

I can explain:

if you bet right at the start of the lottery, you get the full bonus pool if you win.
if you bet half way through, you get half of it
if you bet right at the end, you get none of it

It goes down linearly. If you bet X% of the way through, you get (100-X)% of it.

[Rilla]

Gratz to the winner and thanks for the explanation.

Why do you take 5000000000 iterations? I cant verify it using the tool (my browser freezes). Why not just one iteration? Or 10? Or 5.000? Why so many?

Thank you!

[RHavar]

Gratz to the winner and thanks for the explanation.

Why do you take 5000000000 iterations? I cant verify it using the tool (my browser freezes). Why not just one iteration? Or 10? Or 5.000? Why so many?

Thank you!

Basically the only point of this step is to waste time.


The attack it's designed to prevent, is if a bitcoin miner bought lots of tickets in the lottery, when they solved a bitcoin block they could check to see if they won the lottery or not. If they didn't win the lottery, what they could do is throw away that block (and its 25+ btc of rewards) and never mine it. Which would effectively give them a 2nd chance at winning.

So what we do, is make the check take a long time. Like an hour-long. So the hypothetical miner, if they found a xxx006 block would have to spend an hour to check if they won the lottery. During this hour they have a MASSIVE risk of having their block orphaned (even a large pool, even if they were burning money privately mining on top of it) so the economics become pretty infeasible.

[jacktheking]

Glad that I won a place in the sidebar advertisement slot. Anyway, so I guess the winner of second round is not yet announced right? When will he or she be made known to public?

[RHavar]

Glad that I won a place in the sidebar advertisement slot. Anyway, so I guess the winner of second round is not yet announced right? When will he or she be made known to public?

https://bitcointalk.org/index.php?topic=1243970.msg13052438#msg13052438

I'll just give people a few more hours to verify the results, before I make it official

[RHavar]

Winner of draw 2 has been paid, and we've opened the ability to pre-register an address (for people who prefer to directly send money to the lotto): https://www.pevpot.com/register

[no-life]

just bought tickets
wish everyone luck lets get this going only 36 blocks more!

[Falconer]

Hey Ryan.
Need how much block for showing result the winner ._.

Whats the rush? It should take a while to verify the winner but if you win then you win, all you need to do is wait. It aint hurt to do a little waiting I assumed

[katerniko1]

Hey Ryan.
Need how much block for showing result the winner ._.

Whats the rush? It should take a while to verify the winner but if you win then you win, all you need to do is wait. It aint hurt to do a little waiting I assumed

i was about to ask same question
there is no rush but im curious.
regards.
-Katerniko1

[dooglus]

Hey Ryan.
Need how much block for showing result the winner ._.

Whats the rush? It should take a while to verify the winner but if you win then you win, all you need to do is wait. It aint hurt to do a little waiting I assumed

i was about to ask same question
there is no rush but im curious.
regards.
-Katerniko1

It takes an hour or two to calculate who won. You can do it yourself though, following the information on the pevpot site.

[Rilla]

I think the winning ticket is:

var winningTicket = bigInt("26d33835054efa572c76332ea937331d74d92eee64d58f1bc839409c29951954", 16).mod(673476389).toJSNumber();
// 134370671

[RHavar]

^ Yeah, that looks right. Which would make the sender of:

https://www.blocktrail.com/BTC/tx/81fe11fd0f44b4ef181a17f2308e46e3a2310d73d25da98cb41d14dff1f1de93?txoutIdx=0

the winner.

I just need to get an external source of data for the transactions before I hand over the money (stupid insight.bitpay api is timing out right now)


Edit: Got Independent confirmation that this is the winning transaction =) Payment will be made shortly

[RHavar]

Winner has been paid 6.87664041 BTC!

Thanks again for everyone who played, and sponsored the draw! Looks like draw #4 is going to be a bit bigger =) Get your tickets early!

[RHavar]

With our 4th draw coming near to a close, now is your chance to get in! There's not much early-bird bonuses left, but still can't beat the <= 0 house edge we offer!

Also, I'd like to encourage sponsors to create an ad: https://www.pevpot.com/sponsors

For next to nothing you can create an ad and get on the homepage. For next week I'll add analytics, so it's possible to get an idea how much exposure you're getting. But with a few bitcents, you can't go wrong =)

[lama-hunter]

Nice Site and nice idea! It is possible tom get this going includede as an free faucet like freebitcoin.io?

Would be great to know about

regards
lama-hunter

[chennan]

This is a really cool concept, just now have found out about this. But what are some ways we can take time to verify the winner our self for each drawing. I would look at the site my self and enter a drawing, but I'm currently away from my home computer right now.

Looking forward to playing though, you have made a lot of good games, and I'm sure this one won't disappoint either RHavar.

[mobnepal]

Nice concept but i am little confused about the price of each ticket, it says to send more than 100 bits to get valid ticket but what will happen if i send 1000 bits, will i get 10 tickets? Sorry if this question is already answered above as i don't have time to scroll the whole thread.

[NLNico]

Every satoshi is worth 1 ticket. But the minimum is BTC0.00010000 = 10,000 tickets. If you send BTC0.00012345 - you get 12,345 tickets. So 1000 bits = BTC0.00100000 = 100,000 tickets. Etc.

[BTCevo]

Every satoshi is worth 1 ticket. But the minimum is BTC0.00010000 = 10,000 tickets. If you send BTC0.00012345 - you get 12,345 tickets. So 1000 bits = BTC0.00100000 = 100,000 tickets. Etc.

That means people with high amount of money will have a higher chance of winning. I think it is better for them to set 0.04 or 0.05 per tickets so people will not purchase that many and low budget people will still have the same chance of winning too