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Author Topic: The Bitcoin Lottery - Ultimate Transparency  (Read 1541 times)
Pap0u
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August 10, 2016, 08:15:11 AM
Last edit: October 17, 2017, 11:30:17 PM by Pap0u
 #1

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August 10, 2016, 09:26:14 AM
Last edit: October 17, 2017, 11:30:31 PM by Pap0u
 #2

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August 10, 2016, 09:42:01 AM
 #3

How a lottery?
Can you talk a bit about the project?

why not
How does the lottery?

How can transparency lottery?
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August 10, 2016, 09:48:01 AM
Last edit: October 17, 2017, 11:30:41 PM by Pap0u
 #4

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August 10, 2016, 11:15:41 AM
 #5

How can transparency lottery?
How is the operation?
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August 10, 2016, 12:02:05 PM
 #6

How can transparency lottery?
How is the operation?

Didn't you know Mr. Korkmaz?

There is a Gödel Theorem that explains it all.


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August 10, 2016, 03:11:42 PM
 #7

You opening post is not good at all. It is wall of text and I doubt that many people would be patient enough to read through it all.
I tried to read it, and got stuck in the middle overwhelmed by amount of empty slogans about 'creating better future' and Satoshi's vision.

What you need is better description of your project, with easy to understand goals and features. And not some kind of political speech.


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Pap0u
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August 10, 2016, 04:15:35 PM
Last edit: October 17, 2017, 11:30:49 PM by Pap0u
 #8

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August 10, 2016, 04:20:55 PM
 #9





how do you solve the problem that the

a ) miner
b ) last person contributing randomness
c ) one who decides peer is really disconnected

 get to

a) chose
b) withold
c) ddos

 the lottery result.

P.S: we already have a lottery and it's called crypto coin mining. Real life lotteries are recorded in advance and for all intents and purposes shall be considered corrupted.

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Pap0u
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August 10, 2016, 04:43:00 PM
Last edit: October 17, 2017, 11:31:01 PM by Pap0u
 #10

.

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August 10, 2016, 04:49:05 PM
 #11

I don't understand what the miners have to do with this. As we evolved, we would have infrastructure to secure payments and systems in place. This isn't going to be a solo operation out of a basement. I am looking for prominent people/companies involved with Bitcoin interested in this to propel it further.
Miners have a lot to do with bitcoins..which is the architecture your project is based on....So can't really ignore them.Besides that,bitcoin lottery is not something new here,if you look around the gambling section,you can probabaly find them there.Yes ,they're transparent and everything what you have planned your project to be.Not saying you should'nt continue with the idea but do something which hasn't implemented in the bitcoin lottery scene before.

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August 10, 2016, 05:15:30 PM
 #12

I am sure miners pose a threat to every Bitcoin operation out there. There will be plenty of statistics and risk management going on. This isn't just some little simple cheap 10 Satoshi lottery. We will have various games as we grow, but the whole point is to do a high payout lottery system going that funds social development. It would be nice to partner with a huge platform such as Coinbase from the get go to gain immediate trust and have a nice platform where people can get into Bitcoin, buy it, play a transparent lottery as well as fund direct social change.

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August 10, 2016, 05:57:38 PM
 #13





how do you solve the problem that the

a ) miner
b ) last person contributing randomness
c ) one who decides peer is really disconnected

 get to

a) chose
b) withold
c) ddos

 the lottery result.

P.S: we already have a lottery and it's called crypto coin mining. Real life lotteries are recorded in advance and for all intents and purposes shall be considered corrupted.


Can you write more details?
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August 10, 2016, 08:45:11 PM
 #14

You are basically trying to do something like this ---> https://www.reddit.com/r/millionairemakers/ -- They also ran into some trouble with the law makers when they considered a lottery type setup. In

some countries only the national lottery are legit, and any other form of lottery are outlawed. How are you going to get passed these laws to take it global? It is one thing to have a global lottery, but it

is a whole other problem making it provably fair. How are you going to make the draw fair?

 
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August 10, 2016, 09:34:07 PM
 #15

What do you mean by fair? We will always operate with full disclosure. As I said, as we grow, we will establish different platforms for the lottery. Yes, states and countries have monopolized the business because it is crazy profitable. Majority of them say they are used to run state and federal programs but honestly, when is our government or when do companies for that matter actually disclose financials? The point of this is to take a proven system, the lottery, which millions of people play a day, and bring it to the Bitcoin platform to create a healthy lottery system with the goal being to establish charitable projects with the funds generated. What exactly of the concept do you not understand.

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August 11, 2016, 08:21:52 PM
 #16

Ok, let me make it clear to you... In most countries your lottery will not be allowed. So the winners will be breaking the laws, by accepting your lottery winnings. Next... How are you going to make sure

that the draw it self will be fair? Are you going to stream a live draw over the internet will weighted balls? These games have been known to be rigged, and a global jackpot would be worth millions. Who

will audit the draw results? Normally a independent organization is paid to audit these draws to make sure that everything are above board. There are too many questions unanswered in your idea.

 
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August 18, 2016, 07:39:14 AM
 #17

there are so many bitcoin sites with lottery and jackpots etc , many of countries does not allow these things as mentioned above and some countries even banned lotteries also.not sure how it will be useful for the end customer who is investing money on that . Your thread may not be complete transparency Smiley

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August 19, 2016, 11:08:01 AM
 #18

Hi dude, the idea itself sounds good, but what about the capacity of bitcoin? I mean, you will probably need to run hunderds of transactions per second, if not more. How do you solve this?

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August 23, 2016, 10:40:41 AM
 #19

May I ask where u are going to get a large jackpot from? I don't think little jackpots are motivating enough. There are not so many people - I mean grassroots - who will take their time to get involved into cryptocurrency business to play lottery. What do u think?

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