Billionaire Token - Raffle ticket price voting thread

[gluedog]

Hello,

I am Gluedog, lead developer of the Billionaire Token project. A super-deflationary, gambling oriented Ethereum ERC-20 Token, and much more!
Most other coins have some sort of mining system but Billionaire Token has the exact opposite: it features a deflationary mechanism that destroys some coins every week via our decentralized Become a Billionaire Raffle and Burner Smart Contracts.

We are in mid-ICO phase but have already sold over 58% of all the tokens (1,794,180 / 3,049,999 XBL)

If you want to learn more, visit our ANN thread, all the information you require is here: https://bitcointalk.org/index.php?topic=2065888

The deflationary mechanism that we envisioned for Billionaire Token (XBL) depends on people playing with the Raffle and the Burner. Because of this we want to make them attractive to the public.

We decided to implement a GUI version of the Raffle and Burner , so that it will be more appealing to the masses. And gambling is a big market:)
Also, I am creating this poll as a response to community feedback - people would like to vote on the price of one ticket for the Become a Billionaire Decentralized Raffle.

Go ahead and vote and leave your comments down below!

[willdono]

Higher is better imo. It makes it much more exciting as more tokens are on the line. 10XBL is a tiny amount so many people would not see a big enough incentive looking at the prize pot. Also, more tokens = more deflation = more value to investors in the long run.

[gluedog]

Higher is better imo. It makes it much more exciting as more tokens are on the line. 10XBL is a tiny amount so many people would not see a big enough incentive looking at the prize pot. Also, more tokens = more deflation = more value to investors in the long run.

But don't forget! You can submit as many tickets as you'd like.

[lukunku]

I voted for 10xbl as one can submit several tickets. The entry hurdle is small and I think more ppl would participate.

[Faroxx]

That is, I buy from you on ico coins, they are stored in my wallet Ethereum (such as mew) and deflationary mechanism destroys my coins after a certain period of time? Do I understand correctly?

[gluedog]

That is, I buy from you on ico coins, they are stored in my wallet Ethereum (such as mew) and deflationary mechanism destroys my coins after a certain period of time? Do I understand correctly?

No! The coins from your wallet are not destroyed.

Ultimately, 30% of the tokens sent to the Raffle will be destroyed.
If you do not send coins to it, then you are not in danger of losing coins.
You can just leave them in the wallet safely.

The weekly Become a Billionaire decentralized raffle will be the basis of the deflationary mechanism for Billionaire Token.
---------------------------------------------------------------------------------------------------------------------------
Every week, users can send 20 XBL to an Ethereum Smart Contract address – this is the equivalent of buying one ticket,
   more tickets mean a better chance to win. Users can buy an unlimited number of tickets to increase their chances.
   At the end of the week, the Smart Contract will choose three winners at random. First place will get 40% of the tokens
   that were raised during that week, second place gets 20% and third place gets 10%.
   From the remaining 30% of the tokens: 10% are burned – as an offering to the market gods.
   The other 20% are sent to another Smart Contract Address that works like a twisted faucet – rewarding people for burning their own coins.

The Become a Billionaire raffle Smart Contract will run forever, and will have an internal timer that will reset itself every seven days.
   The players are registered to the Raffle by creating an internal mapping, inside the Smart Contract,
   a mapping of every address that registers tokens to it and their associated number of tickets.
   This mapping is reset every time the internal timer resets (every seven days).

[lukunku]

Dev, excuse me upfront for my stupid question but is there a limit for the burning?

[gluedog]

Dev, excuse me upfront for my stupid question but is there a limit for the burning?

Yes there is, if the Burner doesn't have enough coins to give you the reward, you will not be able to use it.
This will also be a race, the fastest people to burn their coins get the rewards, while the others are left to wait for the next week.

[Nunzio]

Same I think more is better. Big prices for big investors  

[fishfishfish313]

Hi!  Given that the supply is deflationary and there is a BURN function, I am leaning towards 10 or 20 XBL tokens.  Can I use the smart contract to send multiple entries in the raffle at once?  I am hoping that this is possible.  It would be kind of a pain if I wanted 4 tickets in the raffle to have to use the smart contract once for each ticket.  I will vote after I get a bit more information.

[Yankeeruinx]

10 XBL vote for me as 1 XBL will be $1 when this hits the exchanges so $50 would be a bit much per ticket.

[gluedog]

Hi!  Given that the supply is deflationary and there is a BURN function, I am leaning towards 10 or 20 XBL tokens.  Can I use the smart contract to send multiple entries in the raffle at once?  I am hoping that this is possible.  It would be kind of a pain if I wanted 4 tickets in the raffle to have to use the smart contract once for each ticket.  I will vote after I get a bit more information.

Hello, yes you can do that.
Basically this works in the following way: Users must first call approve() on the XBL Contract Address allowing the Raffle to spend tokens on their behalf.
After this, users must call registerTickets() function on the Raffle Contract Address with the number of tickets they want to register.

Example:

Code:

    
function approve(address _spender, uint256 _amount) returns (bool success) 

So the user will first call approve(RAFFLE_ADDRESS, 20000000000000000000) on the XBL Contract Address. They have just approved the Raffle to spend 20 XBL (+18 zeroes) on their behalf.

Code:

function registerTickets(uint256 number_of_tickets) returns (int8 registerTickets_STATUS)

Assuming the price of one ticket is 20, then the user must call registerTickets(20) on the Raffle Contract Address.

Now you're in. You've just registered a ticket to the raffle. You have the chance to become the grand winner!

All of this is easy for a cryptohead but might seem just a tad bit complicated for your average gambler.

We will be aiming to go mainstream with Billionaire Token and as such we will develop a GUI to be used in conjunction with the Raffle and the Burner .
This GUI will use Metamask and will be usable through our website initially. We will also be looking into developing stand-alone clients.

Basically, people will play the Raffle, play with the Burner, play Poker and not even know they're on a blockchain.
It will be gambling for the masses with all the benefits that crypto currencies and blockchain technology brings: accountability, traceability and security.

[fishfishfish313]

Ok.  That makes sense to me.  I have voted for 10 XBL.  It doesn't take any more effort on the part of the user to get additional tickets.  And the ticket price of 10 XBL allows for anyone who wishes to play, a chance to do so.

For example, even if it was 50 XBL, a player now just has to use the instructions above laid out by the dev, except now they will receive 5 tickets instead of one.

Adding GUI would be excellent.  I think this is a necessity anyways because of the eventual addition of the casino games.  

I appreciate the detailed answer.  

[eggsandspamm]

Ok.  That makes sense to me.  I have voted for 10 XBL.  It doesn't take any more effort on the part of the user to get additional tickets.  And the ticket price of 10 XBL allows for anyone who wishes to play, a chance to do so.

For example, even if it was 50 XBL, a player now just has to use the instructions above laid out by the dev, except now they will receive 5 tickets instead of one.

Adding GUI would be excellent.  I think this is a necessity anyways because of the eventual addition of the casino games.  

I appreciate the detailed answer.  

10 does make sense because then anyone can play, and if a whale wants to put in more than one ticket than so be it

[coin-investor]

Ok.  That makes sense to me.  I have voted for 10 XBL.  It doesn't take any more effort on the part of the user to get additional tickets.  And the ticket price of 10 XBL allows for anyone who wishes to play, a chance to do so.

For example, even if it was 50 XBL, a player now just has to use the instructions above laid out by the dev, except now they will receive 5 tickets instead of one.

Adding GUI would be excellent.  I think this is a necessity anyways because of the eventual addition of the casino games.  

I appreciate the detailed answer.  

10 does make sense because then anyone can play, and if a whale wants to put in more than one ticket than so be it

I voted 10 and so far people agreed to that number, we cannot restrict anyone to put in more ticket even if it is not a whale this is levelling the playing field so even if you are a small holders you can still participate in the raffle, I hope other who voted share the same opinion.

[gluedog]

Even thought I voted for 20, I tend to agree with you guys.

We should probably do 10 XBL for a ticket price

[Deki1904]

Voted for 10...

Think will atract more People to use it.

Just read the Whitpaper, sounds good....
Can't wait to see the first Raffel

Cheers

[fishfishfish313]

Yes.  It appears that 10 XBL is what most of the voters want.

[gluedog]

INFO: This poll will be locked on 01 October 2017.

So if you haven't voted already, but you would like to play the Become a Billionaire decentralized Raffle and have a say in its configuration, go ahead and vote:)

[Johnphive]

Hey gluedog I know this post isn't meant for this but can you message me please. I gave a wrong deposit address and I would like to change it. I can provide the transaction Id and email. Please help!!! The address I gave won't accept tokens! But my vote is 10 😉