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

[julzmzn]

Anonymous, clearly a scam! Reminds me of the Idice  scam, I lost money with Idice, please becareful with anonymous dev teams people!

[Rumipl]

Shouldn't it be Receive? instead of Recive

yes, of course. It's an obvious typo. It will be corrected. Thank you !

[Jimmi Andersen]

Who are the team members behind this project? And who audited the contract before it was hacked? Did anyone really audit it or was that just a lie?

[ethwarehouse]

It is easier than to find Satoshi. Based on open info from the profile of topic starter probably the whole team is one guy (which is absolutely ok for me):

Michał Dąbrowski
from Warsaw Poland
http://en.nencki.gov.pl/laboratory-of-bioinformatics

Smart guy from science. I like it.

[Jimmi Andersen]

Smart contract is public, and it can veryfied. We don't need to provide the information about the development team when the product is ready and it will be validated.

Why not? 10 % for marketing + 0,25 % of sales but who will do the marketing and does that person know anything about marketing? People have to hear about the lottery in order for investors to make money. That's why it's important to know who is behind this. Also it doesn't look like you even have a basic website up about the lottery. Just an ICO site where you ask people for money, but not a demo of how it would work. Will there even be a website?

[chopter]

Smart contract is public, and it can veryfied. We don't need to provide the information about the development team when the product is ready and it will be validated.

Why not? 10 % for marketing + 0,25 % of sales but who will do the marketing and does that person know anything about marketing? People have to hear about the lottery in order for investors to make money. That's why it's important to know who is behind this. Also it doesn't look like you even have a basic website up about the lottery. Just an ICO site where you ask people for money, but not a demo of how it would work. Will there even be a website?

Smart Contract is kinda a demo. You can play on it at the moment. I am sure they will have user interface ready soon. I am guessing they are starting with crypto related publications and ads and first because most of the people do not understand cryptocurrency yet. Hopefully if this gets popular they could have a service where they accept fiat which gets transferred into ETH automaticly and placed into a lottery. That way this would appeal to more people than just people who have cryptocurrency. This could be BIG.
I will invest for sure.

There is so much FUD, think how big stake you could be getting of it when not many people invest. Put probably many people will invest because this seems like a gem to me.

[Propeg]

Smart contract is public, and it can veryfied. We don't need to provide the information about the development team when the product is ready and it will be validated.

Why not? 10 % for marketing + 0,25 % of sales but who will do the marketing and does that person know anything about marketing? People have to hear about the lottery in order for investors to make money. That's why it's important to know who is behind this. Also it doesn't look like you even have a basic website up about the lottery. Just an ICO site where you ask people for money, but not a demo of how it would work. Will there even be a website?

Smart Contract is kinda a demo. You can play on it at the moment. I am sure they will have user interface ready soon. I am guessing they are starting with crypto related publications and ads and first because most of the people do not understand cryptocurrency yet. Hopefully if this gets popular they could have a service where they accept fiat which gets transferred into ETH automaticly and placed into a lottery. That way this would appeal to more people than just people who have cryptocurrency. This could be BIG.
I will invest for sure.

There is so much FUD, think how big stake you could be getting of it when not many people invest. Put probably many people will invest because this seems like a gem to me.

Gambling will always have a place.The only concern is the serving.

[vroom]

are there any dividend calculations yet? some examples? I will try to make an example dividend calculation, please correct me if I'm wrong.
in this example 100000 ether tokens are sold in the ico, the investor invested 1 ether and ticket sales for a period are 1000 ether.

total sold ico tokens: 100000 ether
owned ico tokens: 1 ether
ticket sales in a month: 1000 ether
owned ico tokens in percent: 0.001%
total dividend payout: 1000/100*5 = 50 ether
dividend payout for owned ico tokens: 50/100*0.001 = 0.0005 ether

is this calculation correct?

[ethwarehouse]

You forgot about dev team share.
So, 0.0005 - 20.63% = 0,00039685 ETH

And you will have to use PayDividends function of the smart contract (it is not automated for some reason) and I guess you will have to pay about this amount for the gas for this transaction (may be exactly for this reason it is not automatic).

So, if ICO will attract 200000 ETH - divide it by 2.

It is good to know. Thank you for your calculations.

[chopter]

are there any dividend calculations yet? some examples? I will try to make an example dividend calculation, please correct me if I'm wrong.
in this example 100000 ether tokens are sold in the ico, the investor invested 1 ether and ticket sales for a period are 1000 ether.

total sold ico tokens: 100000 ether
owned ico tokens: 1 ether
ticket sales in a month: 1000 ether
owned ico tokens in percent: 0.001%
total dividend payout: 1000/100*5 = 50 ether
dividend payout for owned ico tokens: 50/100*0.001 = 0.0005 ether

is this calculation correct?

If this gets huge adoption from also outside of crypto world we could have ticket sales in a month: 20000 ETH
In 2018 they should add a way to buy a ticket with credit card that would be going through challengy and straight to the contract. So everybody could play this lottery with a very low house edge.

If 100000 ether gets sold then first jackpot is 90000 ETH + 1500 ETH from hackathon (90% from ICO)

[ethwarehouse]

Because of chargebacks I think it is not a good idea to accept credit cards straight to the contract.

[chopter]

Because of chargebacks I think it is not a good idea to accept credit cards straight to the contract.

Then some way to buy ticket with Fiat(Which is turned to eth via some service). Then this could be marketed to people who have heard of cryptocurrencies but do not hold any or know how to buy them or store them.

[vroom]

this would be my first ico I'm interested in. Can someone please tell me what I need and have to do to join this ico? I know that it will start next week and that I most likely need some ether. But then, how will this work when the ico starts?

Do I need a special wallet? currently I'm using a ledger nano wallet
Do I need an account somewhere?
Will I just send some ether to the smart contract and the source address is the payout address for dividends?

sorry for this newbie questions

[Kyotric]

This screams scam all over. The devs can just pull the money out of the contract and be done with it. No way to trace them since they are anonymous.

[recitestores]

This screams scam all over. The devs can just pull the money out of the contract and be done with it. No way to trace them since they are anonymous.

The funds from the first Hackathon were withdrawn by the Admin using the coldStore function.
The withdraw was possible because there weren’t any liabilities on the contract such as Token redeem and win payouts. There weren’t any wins to pay out because the players were able to claim the wins after a given time period, they weren’t the lottery winners right after the lottery draw. At the moment of the Admin withdraw there were no wins to pay. So no, you are not right dude.

[sunnymind]

How do you propose marketing this project beyond the crypto community? Without an actual human being who fronts it, I would imagine it is going to be very hard to get out into the main stream media. How will you get enough traction to reach the proposed financial targets?

[Rumipl]

Dear SmartBillions community!

Last days of Hackathon generated a positive response and very valuable feedback from the community. Based on user comments, we have decided to deploy an updated version of the contract with the following improvements:

1. We have fixed minor spelling mistakes (https://github.com/SmartBillions/SmartBillions/pull/1).
2. We have changed the token name to “SMART” to solve the occurred conflict with HEROcoin ICO (https://github.com/kvhnuke/etherwallet/pull/1104).
3. We have changed the management of the payment periods and decided to use Timestamp rather than the Block.time (https://www.reddit.com/r/ethereum/comments/74d3dc/smartbillions_lottery_contract_just_got_hacked/dnyjtm2/).
4. We have changed the putHash function, to prevent misalignment in the hash database.

The contract is now available at: https://etherscan.io/address/0x6f6deb5db0c4994a8283a01d6cfeeb27fc3bbe9c
The jackpot of the contract will be filled with tomorrow (2017-10-10) 12:00 GMT, after preparing the contract database. The funds from the old contract (https://etherscan.io/address/0x103c2c150a2dbcc277ee084c59881978060c8c22) will be withdrawn, according to the hackathon rules, and deposited to the new address.

We would like to thank all the hackathon participants for active involvement in the contract improvements. The HACKATHON will continue and we will be working on further improvements, if requested and justified.

[onetoniro]

Dear SmartBillions community!

Last days of Hackathon generated a positive response and very valuable feedback from the community. Based on user comments, we have decided to deploy an updated version of the contract with the following improvements:

1. We have fixed minor spelling mistakes (https://github.com/SmartBillions/SmartBillions/pull/1).
2. We have changed the token name to “SMART” to solve the occurred conflict with HEROcoin ICO (https://github.com/kvhnuke/etherwallet/pull/1104).
3. We have changed the management of the payment periods and decided to use Timestamp rather than the Block.time (https://www.reddit.com/r/ethereum/comments/74d3dc/smartbillions_lottery_contract_just_got_hacked/dnyjtm2/).
4. We have changed the putHash function, to prevent misalignment in the hash database.

The contract is now available at: https://etherscan.io/address/0x6f6deb5db0c4994a8283a01d6cfeeb27fc3bbe9c
The jackpot of the contract will be filled with tomorrow (2017-10-10) 12:00 GMT, after preparing the contract database. The funds from the old contract (https://etherscan.io/address/0x103c2c150a2dbcc277ee084c59881978060c8c22) will be withdrawn, according to the hackathon rules, and deposited to the new address.

We would like to thank all the hackathon participants for active involvement in the contract improvements. The HACKATHON will continue and we will be working on further improvements, if requested and justified.

I was change the token name in Indonesian thread --> "SMART"
this project is very interesting, goodluck

[alanh511]

Hello
Intriguing idea.

After reading from P1 to here a couple things just stand out.
It seem very few not only do not understand this project, but really seriously do not the basic concept of ethereum.
The concept of smart contracts. some people have got a lot of reading and watching to do to get caught up.
The contract once in place should be totally unchangeable, by anyone. No matter if dev or someone else.

I would like more info on the Affiliate program. I have yet to find a working link to sign up for this.

also SMART is taken by smartcash token

[mv_USA_devnull]

Contract hacked again:

https://etherscan.io/address/0x103C2C150a2dBCC277Ee084c59881978060c8c22

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