[ANN][Bitcoin lotterey][ProfitLotto.com]

[PLottoMod]

I'm glad to announce the new Bitcoin Lottery - ProfitLotto.com
Welcome, and check it out!

ProfitLotto.com
ProfitLotto.com is classic implementation of lottery six of thirty six (6 of 36) adapted to modern requirements like use cryptocurrency, global availability, usability at smartphone. ProfitLotto.com - is are Bitcoin blockchain based lottery.

Lottery time
Every time when Bitcoin block found (about 10 minutes) – ProfitLotto.com gets new Six numbers combination and the lottery occur.

Six numbers combination
The lottery Six numbers generated from the Bitcoin block hash using a unique algorithm.
For example, from block hash:
00000000000000000466fec33c167542dec3d6df6220f55f62763f623a55bcf8
get next Six numbers combination:
29-2-10-15-6-16
The relative position of numbers does not matter for lottery.

Lottery fund
Lottery fund consists from the sum of all tickets prices that have been bought. Everytime when player buying a ticket:
Lottery fund = Lottery fund + Ticket price.

Ticket
The ticket means combination of six unique numbers from 1 to 36, that buyer must select to purchase the ticket. The relative position of numbers in ticket does not matter. After buying – ticket will participating in the lottery, and if it wins – buyer gets reward according winners rates profitlotto.com/rates

Ticket price
Initial ticket price is 100 Satoshi. To avoid cheaters, ticket price will be grow together with the lottery fund.

Satoshi
100,000,000 Satoshi = 1 Bitcoin
1 Satoshi = 0.00000001 Bitcoin

Website: https://profitlotto.com
Statistics: https://profitlotto.com/historylotto
Contact: https://profitlotto.com/contact

Update 22.03.2016
• Increased lottery fund
• Reduced the number of confirmations for deposits
• Added faucet
• Small bag fix and updates

Welcome, and enjoy!

[1714950980]

1714950980

[1714950980]

1714950980

[Joel_Jantsen]

I happen to read the Terms and conditions of the lottery for whatever reasons and I'm totally surprised why you would NOT run away with my monies.Here is the condition folks ,here it is

Lottery is on beta stage, use it at your own risk.

In simple words = We're not to be blamed if you buy the tickets and the website just dumps itself for no reasons.Not like we didn't warn you before.

[Zeroxal]

I happen to read the Terms and conditions of the lottery for whatever reasons and I'm totally surprised why you would NOT run away with my monies.Here is the condition folks ,here it is

Lottery is on beta stage, use it at your own risk.

In simple words = We're not to be blamed if you buy the tickets and the website just dumps itself for no reasons.Not like we didn't warn you before.

I usually don't understand why people would read through a 100paged Terms and conditions - but nice catch there

OP should include that in his thread.

[PLottoMod]

I happen to read the Terms and conditions of the lottery for whatever reasons and I'm totally surprised why you would NOT run away with my monies.Here is the condition folks ,here it is

Lottery is on beta stage, use it at your own risk.

In simple words = We're not to be blamed if you buy the tickets and the website just dumps itself for no reasons.Not like we didn't warn you before.

I usually don't understand why people would read through a 100paged Terms and conditions - but nice catch there

OP should include that in his thread.

Well, as you probably know, even original bitcoin client is 'This is experimental software'.

Not to mention about biggest exchange with highest volume, that on the first page honestly warn that they in 'currently in a beta phase (testing phase)'.... 
 

[Patatas]

I see the lottery is in beta stage and even putting money in this stage is highly risky as stated above.Why not do a couple of free small amount lotteries and try to fix the bugs first ? Once done you can move from beta and give assurance to people about their funds beings secure and this entire thing is legit ?

[Xsinx]

What is the frequency of the draw, i dont understand on every block that was found. a clear time of the day will be nice info

[PLottoMod]

I see the lottery is in beta stage and even putting money in this stage is highly risky as stated above.Why not do a couple of free small amount lotteries and try to fix the bugs first ? Once done you can move from beta and give assurance to people about their funds beings secure and this entire thing is legit ?

Good idea, we'll see about that

[PLottoMod]

What is the frequency of the draw, i dont understand on every block that was found. a clear time of the day will be nice info

Typically blocks found about every 10 minutes. So, lottery start respectively.
But sometime happens gap between blocks up to 60 minutes, and sometime happens few blocks per one minute.

You can check it here https://blockchain.info

Any way ProfitLotto.com must wait when next block will be found, because we need the block hash.
Block hash is used to get the lottery six numbers combination.

[jacktheking]

Nice new lottery system you made for the Bitcoin community. Look greats and good that it uses provably fair method to select winner. Kindly explain what do you mean by "unique algorithm".

The Bitcoin community may be big but the people who know you site is small. To add on, not many people like to participate in paid lottery game today. Drawing a ticket every 10 minutes (or so) is not an ideal move.

[aleandromagno]

Welcome next Bitcoin lottery on board This time Blockchain based - thats nice! Let see where it will go

Low price of tickets is very good idea - it will bring more people for testing.
But i don't understend what mean/how "ticket price will be grow together with the lottery fund."? Can you say a bit more about that? How raising prices can "avoid cheaters"?

[Bitinity]

Welcome next Bitcoin lottery on board This time Blockchain based - thats nice! Let see where it will go

Low price of tickets is very good idea - it will bring more people for testing.
But i don't understend what mean/how "ticket price will be grow together with the lottery fund."? Can you say a bit more about that? How raising prices can "avoid cheaters"?

It is too low imo, would be better if the ticket's price is 1000 satoshi or more. As I see on the lotto history, the prize-pool of each lotto is only around 50k satoshi which should be won by 6 matched numbers.
Otherwise, players will only earn less than 5k satoshi with 3 matched numbers. No offense, but it is kind of wasting time gambling.

[aleandromagno]

Welcome next Bitcoin lottery on board This time Blockchain based - thats nice! Let see where it will go

Low price of tickets is very good idea - it will bring more people for testing.
But i don't understend what mean/how "ticket price will be grow together with the lottery fund."? Can you say a bit more about that? How raising prices can "avoid cheaters"?

It is too low imo, would be better if the ticket's price is 1000 satoshi or more. As I see on the lotto history, the prize-pool of each lotto is only around 50k satoshi which should be won by 6 matched numbers.
Otherwise, players will only earn less than 5k satoshi with 3 matched numbers. No offense, but it is kind of wasting time gambling.

Not necessarily, after all, anyone can buy as many tickets as he wants. At the beginning it seems to me a good idea. Later, they can enter a higher price or a completely separate lottery for high rollers

[PLottoMod]

Nice new lottery system you made for the Bitcoin community. Look greats and good that it uses provably fair method to select winner. Kindly explain what do you mean by "unique algorithm".

The Bitcoin community may be big but the people who know you site is small. To add on, not many people like to participate in paid lottery game today. Drawing a ticket every 10 minutes (or so) is not an ideal move.

Thank you. Algorithm takes as input block hash and provides an output the six numbers combination. What exactly algorithm do - cannot disclose, due to security reasons, hope you understand.
Primary conceptions is:
no one know what is block hash will be, until miners get it;
every block hash are unique;
So, based on this, block hash are ideal source for six numbers extraction. 

[Kepler510]

I am glad to see recent site.

I am very interested to try your site. All design is perfect and no ugly impression. the features provided are enough support.

Good luck All

[vannaria]

there is any free cash bonus?!?
Or a faucet? Just to try it before! 

[PLottoMod]

Welcome next Bitcoin lottery on board This time Blockchain based - thats nice! Let see where it will go

Low price of tickets is very good idea - it will bring more people for testing.
But i don't understend what mean/how "ticket price will be grow together with the lottery fund."? Can you say a bit more about that? How raising prices can "avoid cheaters"?

It is too low imo, would be better if the ticket's price is 1000 satoshi or more. As I see on the lotto history, the prize-pool of each lotto is only around 50k satoshi which should be won by 6 matched numbers.
Otherwise, players will only earn less than 5k satoshi with 3 matched numbers. No offense, but it is kind of wasting time gambling.

Not necessarily, after all, anyone can buy as many tickets as he wants. At the beginning it seems to me a good idea. Later, they can enter a higher price or a completely separate lottery for high rollers

Lets look at an example:

Right now total fund around 70 000 Satoshi and the ticket price is 100 Satoshi
100 Satoshi * 0.00000001 (satoshi->BTC) * 400 $ (current USD price) = 0.0004 $ for the ticket
0.0004 $ is ultra cheap price, but the total lottery fund also very low.... not so interesting, right?

But if total fund will be for example 10 BTC and the ticket price is still 100 Satoshi...
Someone smart man can spend 10% of total fund (1 BTC) for purchase tickets, and get 1 000 000 tickets.
Not so hard calculations says me, that having 1 000 000 tickets, that man can win absolutely everything, and other player - noting - it would not be very honest.

So, how to prevent this?
I see the two ways:
bind the ticket price and the lottery fund;
add limit on the number of purchased tickets;
Selected first.

Because this is must be are lottery - someone is winning and someone not - depends of the players luck and strategy.

[Mars110]

Quite interesting and quite enjoyable. But I was a little notice any damages (error) in your site and I hope you soon to fix the error, so I am comfortable using your site. View you serve very simple and hopefully you also update the display against it so impressed more beautiful and elegan.

[PLottoMod]

Update 22.03.2016

• Increased lottery fund
• Reduced the number of confirmations for deposits
• Added faucet
• Small bag fix and updates

Welcome, and enjoy!