Raffles

[steelboy]

I've been away for a while and dont remember seeing raffles as a way of selling coins. Just wanted to get some opinions on what people perceive as fair.

If for example you are raffling a coin with a value of 2BTC. (Content and numismatic value), how much on top could the raffler expect to add on without being out of order?

If you were to sell 25 tickets at .1 for example would that be seen as acceptable?

[miffman]

So generally, as a sort of unwritten rule here, we raffle out 16 slots. Obviously you can do as many as you like, but generally people take the last character of an upcoming block's hash. There are only 16 possibilities (hexadecimal) the last character can be, which is why we have 16 slots.

So if you want to sell something at say 2BTC, sell one ticket at 2/16 BTC   Note that a high raffle ticket price (say maybe >0.05) will make it difficult to sell all your tickets quickly.

[BitcoinPenny]

So generally, as a sort of unwritten rule here, we raffle out 16 slots. Obviously you can do as many as you like, but generally people take the last character of an upcoming block's hash. There are only 16 possibilities (hexadecimal) the last character can be, which is why we have 16 slots.

So if you want to sell something at say 2BTC, sell one ticket at 2/16 BTC   Note that a high raffle ticket price (say maybe >0.05) will make it difficult to sell all your tickets quickly.

Agreed. If I were to raffle an item worth 1 BTC, then the sixteen (16) tickets would cost .0625 BTC each (for a total of 1 BTC). I'd likely consider any extra cost to be a little "out of order."

Regards,
Chris

[monkeynuts]

I have just set one up, and tried to keep at cost

I have offered 16 prizes, and as such with have 16 sets of shipping, so have offered a buy it now for all prizes at a discount
https://bitcointalk.org/index.php?topic=1508715.msg15181490#new

I think the raffles look to be working with lower price items, and as such lower ticket prices.

I havent had any sales / enquiries .... so either the ticket price is too high, or people dont think the buy it now is value, or they dont want the items, or BTC price craziness is making folks shy to spend / gamble