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Author Topic: Bitcoin crowdfunding-lottery project- your thoughts?  (Read 496 times)
TTimkof
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September 12, 2017, 01:37:52 PM
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We are a team of developers, we are now thinking of making our first project on blockchain, Nothing fancy for starters.
A somewhat lottery, where winner is guaranteed when a specific sum is met. We know that there are a couple out there, but we think that they are kinda shady.

1. What are Your thoughts on this matter?
2. Is this something that would get your attention?
3. What might your suggestions be for the system to be more trust worthy?
4. What do you think we should do to avoid people confusing us with HYIP?
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Svelto
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September 12, 2017, 04:53:28 PM
 #2

I am open to buying lottery with Bitcoin. Your concerns are valid as the lottery sites I have seen seem to be shabby.
How do you guarantee the winner? I feel that this is one important point to gain users' trust.
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September 12, 2017, 05:28:15 PM
 #3

Most people are sick of these Lottery systems. We have yet to find a way to make these lottery systems provably fair and

totally transparent. If you can find a way to make this Lottery "scam proof" then you will have a goose laying golden eggs.

People will support a lottery that they can trust... and we have not found one yet.  Wink

 
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PokerDiceMan
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September 12, 2017, 07:14:05 PM
 #4

We are a team of developers, we are now thinking of making our first project on blockchain, Nothing fancy for starters.
A somewhat lottery, where winner is guaranteed when a specific sum is met. We know that there are a couple out there, but we think that they are kinda shady.

1. What are Your thoughts on this matter?
2. Is this something that would get your attention?
3. What might your suggestions be for the system to be more trust worthy?
4. What do you think we should do to avoid people confusing us with HYIP?

if only lotterey project in gambling site, is low interest bitcoin gambler play, except added another game sample dice, roullete, poker, blackjack and more
but trueflip succes in ico selling only use lottery project
HYIP is difference with lottery project, so why you say and discuss about HYIP if youre open lottery project
maeusi
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September 12, 2017, 08:39:21 PM
 #5

What would maybe bring attention to people, could be instant lotto, with several options. For example buy tickets and get free ones for watching ads. The goal would be, that people would see results immidiately and sponsors could place their ads. That would be a maybe a concept that brings also attention to investors.
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September 13, 2017, 06:41:19 AM
 #6

We are a team of developers, we are now thinking of making our first project on blockchain, Nothing fancy for starters.
A somewhat lottery, where winner is guaranteed when a specific sum is met. We know that there are a couple out there, but we think that they are kinda shady.

1. What are Your thoughts on this matter?
2. Is this something that would get your attention?
3. What might your suggestions be for the system to be more trust worthy?
4. What do you think we should do to avoid people confusing us with HYIP?

If this will be your first project.. Try another easy project like block explorer or payments service.
Because gambling is not easy today. I have idea to create gambling site too but I was stoped.. because need a lot of money in BTC.
Make useful service for people.
sweetdesirez
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September 13, 2017, 06:50:33 AM
 #7

A somewhat lottery, where winner is guaranteed when a specific sum is met. We know that there are a couple out there, but we think that they are kinda shady.

What do yo exactly mean by "Winner guaranteed when a specific sum is met"? Will you plan to draw the lottery only after a specific amount is raised from the tickets? Why will anyone purchase the lottery when there is an uncertainty about the draw itself?
Well well, you found the couple of sites out there kinda shady? What sort of transparency mechanism have you thought over?
Cerbera
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September 14, 2017, 12:52:18 AM
 #8

I'm interested to know the legality of setting up a online lottery. Probably not something you would want to try in the Philippines or you would be playing Russian Roulette.

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warningsigns
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September 14, 2017, 01:34:23 AM
 #9

This will work nicely if (and only if) you can appoint or nominate a trusted escrow provider to hold bitcoins for potential winners of the lottery. As such, you must have enough disposable capital or crypto resources to set aside and held in a suspense wallet by a trusted escrow offering crypto custodial services. There are several very trusted members on this platform who can do this for a modest fee.

Showing escrowed bitcoins will attract gamblers to buy lottery "tickets" (yes, they are essentially and basically all gamblers since they obviously are betting on either winning or losing the staked win amount). Without escrowed coins, there is no assurance of winning and the entire scheme will have all the colors of a scam in the making. How would you overcome the assumption or rebut the presumption that you might simply take all the funds from purchased tokens or tickets and do a runner? You can't. Humans are a curious and inquisitive race. They tend to doubt, think, speculate and worry about the future. And part of operating a lottery is involving the future or marrying the present with the future.

The next draw date is on...
Winners will be decided on...
The jackpot will be drawn on..


As you can see, lottery is all about the future. And what you do or claim to do in the future is a promise. Promising something always involves trust.


Kakmakr
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September 14, 2017, 07:31:22 AM
 #10

I'm interested to know the legality of setting up a online lottery. Probably not something you would want to try in the Philippines or you would be playing Russian Roulette.

You will never receive a global license for a global lottery. In some countries lotteries are illegal, so these people will have to filter/block users from these regions/countries. I doubt if this lottery will operate with a licence, because these things takes a lot of time and money to acquire.

Good luck with your project guys, I hope you follow the legal route. ^smile^

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September 14, 2017, 07:52:50 AM
 #11

We are a team of developers, we are now thinking of making our first project on blockchain, Nothing fancy for starters.
A somewhat lottery, where winner is guaranteed when a specific sum is met. We know that there are a couple out there, but we think that they are kinda shady.

1. What are Your thoughts on this matter?
2. Is this something that would get your attention?
3. What might your suggestions be for the system to be more trust worthy?
4. What do you think we should do to avoid people confusing us with HYIP?

team of developers = nice

but what kind of experience to you guys have? gambling games wise

cheers

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September 14, 2017, 08:03:27 AM
 #12

Good luck with ur project

I think it can work if you are able to show potential players some credibility.

Maybe limit the number of tickets sold as well so that people have a higher chance of winning.
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