Hey guys, we had a pretty successful settlement raffle last Friday, with over $120 of tickets bought.
The #1 draw winner last week won a 13x payout on the single 0.01 BTC ticket they bought.
See the results from last week to get an idea of how it works.So feel free to go here:
http://raffle.stakepool.com to enter for tomorrow's settlement draw.
Basically it's a provably fair lottery that generates the result draws using an open algorithm that can be replicated and is based 100% on the bitcoin blockchain AND bitcoin markets using:
1) Transaction ID of last ticket purchased (ticket sales close 15 minutes before settlement)
2) The OKCoin weekly delivery price down to the $0.001 (this is impossible to narrow down even in a flat market it fluctuates)
3) number of tickets
So there's no drawing process that requires trust or anything, it's just the blockchain and market which create the seed for the pseudo random number generator -- which is impossible to rig, game, or predict.
It's a fun game we are using to help raise funds to pay for license server costs (we take 5% of the pool before distributing winnings) at community servers for traders.
