[ANN][ICO] SmartBillions World’s first multi-billion-dollar blockchain lottery.

[Rumipl]

I need a working link for slack, can someone help me please?

Slack:
https://join.slack.com/t/smartbillions/shared_invite/MjM4MTc5NjQyNTc4LTE1MDQ4NzE5MjYtOTAwZjExMGVjMA&ust=1505215680000000&usg=AFQjCNFjM_ikvCm4z4kAmr72BZj7cXXPlw&hl=pl&source=website

slack not working:

This invite link is no longer active.

Please check with the person who shared it with you to see if there's a new link available.

Please check this link:
https://join.slack.com/t/smartbillions/shared_invite/enQtMjU0NzAyNjk5MTI1LTIyZTljNDIyMDk2NDZjM2M1ZTk3NjI0NzZiYWZjZmMwZGQ5MjVkNzc3MDczYTU1NjU2ZGVmMDE0YTY1ZWMzMDQ

[1715478277]

1715478277

[1715478277]

1715478277

[1715478277]

1715478277

[inventor78]

Please check this link:
https://join.slack.com/t/smartbillions/shared_invite/enQtMjU0NzAyNjk5MTI1LTIyZTljNDIyMDk2NDZjM2M1ZTk3NjI0NzZiYWZjZmMwZGQ5MjVkNzc3MDczYTU1NjU2ZGVmMDE0YTY1ZWMzMDQ
[/quote]

Thank you

[Next-Level]

There is a big problem: you missed to implement to bet multiple times.

A player would play with 1 ETH. He don't want set just a single bet, but would like to bet with his numbers 100 times (i.e. 100 blocks) 0.01 ETH. Currently, he must do that manually which cost time and GAS (and nervs). So he won't do it.  therefore you throw away a big part of potential players. 

But this is not even the huge part of the issue:
Lets take your lowest ANNUAL TICKET SALES assumtion in your WP = 400 mln $
Lets assume that the average bet will be 1$ (realistic)
This results in 400mln transactions per year in the ethereum blockchain
Including the current ~350k tx/day (130mln tx/year), you will already blow up the realistic limit of about 15 tx /second that ethereum can handle !

It's less than 5 days to ICO. So i STRONGLY recommend to extend the bet function for repetitive bets. Otherwise you CANNOT scale to the size you've planned.

IMHO

(Also posted in telegram)

[Rumipl]

There is a big problem: you missed to implement to bet multiple times.

A player would play with 1 ETH. He don't want set just a single bet, but would like to bet with his numbers 100 times (i.e. 100 blocks) 0.01 ETH. Currently, he must do that manually which cost time and GAS (and nervs). So he won't do it.  therefore you throw away a big part of potential players. 

But this is not even the huge part of the issue:
Lets take your lowest ANNUAL TICKET SALES assumtion in your WP = 400 mln $
Lets assume that the average bet will be 1$ (realistic)
This results in 400mln transactions per year in the ethereum blockchain
Including the current ~350k tx/day (130mln tx/year), you will already blow up the realistic limit of about 15 tx /second that ethereum can handle !

It's less than 5 days to ICO. So i STRONGLY recommend to extend the bet function for repetitive bets. Otherwise you CANNOT scale to the size you've planned.

IMHO

(Also posted in telegram)

Next Level,

you cannot bet multiple because every bet is a diffrent transaction on blockchain. This is the most important feature of the SmartBillions lottery. Every bet is made from the players wallet to the smart contract. To bet multiple times you need to send multiple transactions to the contract.
Of course the player can automize the betting bu implementing scripts to his wallet. We will also introduce such a solutions for the players.
The average single bet value in our estimations is set at 0.03 ETH (9 $), which is lower than iour competitors (i.e. True Flip single bet value is 0.005 BTC - 25 $)
Please remeber that the upcoming Metropolis fork will lower the block time to ca. 15 seconds and this will double the transaction number.
 The most important SmartBillions lottery is it's transparency and fairness. This is why all bets must be recorded in the Ethereum blockchain. The bets are not made from the internal players wallets within the smart contract but from external wallets. This guarantees the players protection.

 If you have any other questions relating the smart contract or the assumptions from the white paper please feel free to ask.

[ResponsibleMan]

SmartBillions takes gambling to an unimaginable level: https://coinidol.com/smartbillions-takes-gambling-to-unimaginable-level/

[Vladdirescu87]

SmartBillions Takes Gambling to an Unimaginable Level

The online lottery industry is currently suffering from a lack of growth. This is due to limited transparency and decentralization as well as hidden fees, convoluted rules, cheating, and a lack of trust. Third party involvement has also been shown to severely influence prize payouts and skew draw results, reducing the public’s trust in traditional lottery systems. The aim of SmartBillions is to provide the public with a fully transparent lottery system and freedom to participate for everyone around the world.

SmartBillions, is the world’s first lottery system that is completely transparent, decentralized, and fully anonymous. The platform is actually a smart contract that runs on the Ethereum Blockchain. It will allow people all over the world to partake in online gambling in a multibillion dollar industry that’s constantly booming.

How Is SmartBillions Different?

SmartBillions aims to eliminate the fear of cheating, unfair taxes, and strict regulations. Run on an entirely decentralized platform and not influenced by any organization, company, or party. The lotteries secure system ensures that cheating and unsportsmanlike manipulations are gone.

https://coinidol.com/smartbillions-takes-gambling-to-unimaginable-level/

[alekad]

Hello guys.
For a while i'm investing in the cryptocurrencies and till today I was not interested in ICOs at all (too risky and unpredictable result ). Today I've found this project and became really interested in it. And I intended to invest in it until... I looked at the TrueFlip and it's team's results and the mood of its investors . Now I'm trying to guess whats the difference between these two projects and how SmartBillions intend to overcome the difficulties the TrueFlip faced.... So I have some questions :
1. Web site of TrueFlip is banned in some countries (I've found out Russian Federation and  the US, and I think there are more). This cuts off a big part of gamers. How will SmartBillions handle this issue?
2. Tokens of TrueFlip have not been listed at popular exchanges, all promised time limits have gone and their price declines. How can we be sure that tokens of SmartBillions will be listed, are there any facts or negotiations confirming the plan of SmartBillions' team to be listed at exchanges?
3. How will be token dividents payed out to the holders? For example, at TrueFlip they are paid with great delay and manually. So the investors are very angry!
4. The smallest bet at TrueFlip is 0.0005 and it is stated in SmartBillions whitepaper to be 0.001. So where is the competitive advantage?

PS English is not my native language, I hope I've made my ideas clear to understand.

[DanWagner]

SmartBillions takes gambling to an unimaginable level: https://coinidol.com/smartbillions-takes-gambling-to-unimaginable-level/

Nice article , looking forward to the ico.

[mv_USA_devnull]

Here is what I noticed while trying to hack the Ether contract. Please correct me if I'm wrong.

1. The share for the dividend payments can decrease but not increase. If investments are removed with the disinvest() function the shares and hence the paid out dividends are still calculated with the max amount that was invested ever.

As long as the max amount of 200000 ethers invested is not achieved the share shrinks with every investment (totalSupply is incremented in the invest() function). For 20000 ethers it is 1/20000, for 30000 ethers it is 1/30000 and so on.

But in the other direction (possible with the disinvest() function), the shares don't increase again.

Assume the max possible 200000 ethers were invested. Then one share is 1/200000.
After someone disinvests 50000 ethers one share is still only 1/200000 and not 1/150000.

The reason is that in the disinvest() function only investBalance is decremented but not totalSupply and in the commitDividend() function the shares are still calculated with totalSupply: uint share = balances[_who] * 0xffffffff / totalSupply;


2. In the same function (commitDividend()) there is a loop through every yet not paid out dividend period using the actual share calculated like above. This means that if someone did not pay out dividends for say the last 4 periods, and until this time the invested amount raised while 200000 wasn't achieved the shares of the periods 1-3 are still calculated with the last, highest investment amount (smallest possible share) of period 4 instead of the actual share that was active during the corresponding period 1-3.


3. Whitepaper/hackathon coverage:

From the whitepaper:

"7. Risk-free smart contract product with full security proven in the hackathon process (hackathon prize: 1500 ETH) provided by SmartBillions’ creators to validate the system’s safety)."

For this to be true the word "full" has to be replaced with partial. The hackathon only covered the case when the contract is in preparation state (investStart == 1). Hackers had no way to withdraw the 1500 ETH if they found a bug concerning the ICO (investStart > 1) or investment closed (investStart == 0) state.

[Gru minions]

SmartBillions payouts are instant, direct, secure and anonymous. They are many times higher than the ones offered by any previous lottery, as well as those offered by all current offline and online competitors.

[Rumipl]

Here is what I noticed while trying to hack the Ether contract. Please correct me if I'm wrong.

1. The share for the dividend payments can decrease but not increase. If investments are removed with the disinvest() function the shares and hence the paid out dividends are still calculated with the max amount that was invested ever.

As long as the max amount of 200000 ethers invested is not achieved the share shrinks with every investment (totalSupply is incremented in the invest() function). For 20000 ethers it is 1/20000, for 30000 ethers it is 1/30000 and so on.

But in the other direction (possible with the disinvest() function), the shares don't increase again.

Assume the max possible 200000 ethers were invested. Then one share is 1/200000.
After someone disinvests 50000 ethers one share is still only 1/200000 and not 1/150000.

The reason is that in the disinvest() function only investBalance is decremented but not totalSupply and in the commitDividend() function the shares are still calculated with totalSupply: uint share = balances[_who] * 0xffffffff / totalSupply;


2. In the same function (commitDividend()) there is a loop through every yet not paid out dividend period using the actual share calculated like above. This means that if someone did not pay out dividends for say the last 4 periods, and until this time the invested amount raised while 200000 wasn't achieved the shares of the periods 1-3 are still calculated with the last, highest investment amount (smallest possible share) of period 4 instead of the actual share that was active during the corresponding period 1-3.


3. Whitepaper/hackathon coverage:

From the whitepaper:

"7. Risk-free smart contract product with full security proven in the hackathon process (hackathon prize: 1500 ETH) provided by SmartBillions’ creators to validate the system’s safety)."

For this to be true the word "full" has to be replaced with partial. The hackathon only covered the case when the contract is in preparation state (investStart == 1). Hackers had no way to withdraw the 1500 ETH if they found a bug concerning the ICO (investStart > 1) or investment closed (investStart == 0) state.

Thank you for your questions.
In order to answer your questions:
1. The Total Token supply remains the same after the ICO. The share for the Dividend always the same. Please remember that the Token redeed is an "emergency exit" for the Tokens Holders and  if the Tokens will be redeemed contract will be endangered.
2. The totalSupply (max 200 000 ETH) can never change after the ICO. So the share (owned Tokens / totalSupply) will not change.
3. This is correct. These functions were tested during the development phase.

Thank you for your questions.

[Rumipl]

SmartBillions payouts are instant, direct, secure and anonymous. They are many times higher than the ones offered by any previous lottery, as well as those offered by all current offline and online competitors.

This is correct, the winners can withdraw their winning immediately after the draw !

[Rumipl]

Hello guys.
For a while i'm investing in the cryptocurrencies and till today I was not interested in ICOs at all (too risky and unpredictable result ). Today I've found this project and became really interested in it. And I intended to invest in it until... I looked at the TrueFlip and it's team's results and the mood of its investors . Now I'm trying to guess whats the difference between these two projects and how SmartBillions intend to overcome the difficulties the TrueFlip faced.... So I have some questions :
1. Web site of TrueFlip is banned in some countries (I've found out Russian Federation and  the US, and I think there are more). This cuts off a big part of gamers. How will SmartBillions handle this issue?
2. Tokens of TrueFlip have not been listed at popular exchanges, all promised time limits have gone and their price declines. How can we be sure that tokens of SmartBillions will be listed, are there any facts or negotiations confirming the plan of SmartBillions' team to be listed at exchanges?
3. How will be token dividents payed out to the holders? For example, at TrueFlip they are paid with great delay and manually. So the investors are very angry!
4. The smallest bet at TrueFlip is 0.0005 and it is stated in SmartBillions whitepaper to be 0.001. So where is the competitive advantage?

PS English is not my native language, I hope I've made my ideas clear to understand.

1. You can purchase the lottery ticket directly from your wallet, so in order to participate in the SmartBillions lottery you don't have to use the lottery site. Also we will release a mobile app, that will attract more players. SmartBillions lottery is accesible by the Ethereum blockchain and it cannot be blocked.
2. It is in the development team best interest to list the Tokens on the major exchanges. We already talked to exchanged and the Smart Token will be listed after the ICO.
3. The dividends payout are automated, the Tokens holder must claim the dividend and it will be payed by the smart contract with no 3rd party involvement. Please see the White paper:
"Token holders will receive a dividend every 16 384 Ethereum blocks (approx. 1
month apart). A fixed 5% of all lottery income is allocated to the dividend
payout. The payouts will be made directly from the smart contract balance
which is inaccessible to all parties. Ticket sale revenues as well as the smart
contract balance are public and cannot be affected by any third party. This
makes SmartBillions different from other ICOs with Dividend payout
promises where the payout value and the payout itself depends on the thirdparty
actions and can be easily manipulated. The following calculation
shows the value of the dividend for 1 SMART Token each month:"
4. the SmartBillions ticket value is flexible and players may set their won value from 0.001 ETH to 1 ETH

[massivhe]

This is a ERC20 token?

how to add token to wallet?

[vroom]

This is a ERC20 token?

how to add token to wallet?

I never did it before, this will be my first ICO. But I read a bit and figured out that this should be possible with myetherwallet: https://coins.newbium.com/post/2582-receive-send-ethereum-tokens-myetherwallet-com

[Kenrich]

SmartBillions payouts are instant, direct, secure and anonymous. look promise！ i will join ico when it start.

[wayniac33]

i will def be giving this one a try for sure!

[recitestores]

GUYS, ICO starts SOON! Get ready . cant wait myself

[alekad]

Still hesitating.. the idea itself looks promising, but almost everything depends upon the team of developers. What do we know of team?

[InfiniteQuant]

As an investor in TrueFlip I will carefully monitor your ICO.
Competition is good, it's just sad to not put a face on the SmartBillions team.

Project look brillant for player, for investor, I don't know...

However, I'm still having hard time to understand how you plan to pay a winning 5 ETH bet (2 Billions ?!) if you only raise let say 10 million and put 90% of it in the jackpot.