Question/Poll - Will you invest 0.01 BTC to win 100 BTC?

[Nerman]

Regardless of your rank in the forum the website should be a trusted, I will never put any bitcoin on an unknown website.Also  I do not think betting .01 BTC (as of now $140) on one bet is attractive to gamblers specially on a lottery.

If you really want to succeed you need to build your brand first. Make us believe that you will not runaway with our Bitcoin.
You also need to let the bettors choose how much they would like to bet.

Yes 100 BTC is a lot of money but spending .01BTC with less than 1% chance of winning is not worth it.

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[steveabrahams]

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost  0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

No one will participate this shitty lottery with your newbie account, 0 trust and no one knows you are. So why people will invest 0.01 bitcoin to an unknown person ? You can easily run away with the participant bitcoins, easy money huh ? No, i will not invest my bitcoins to you.

[basu77]

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost  0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

No one will participate this shitty lottery with your newbie account, 0 trust and no one knows you are. So why people will invest 0.01 bitcoin to an unknown person ? You can easily run away with the participant bitcoins, easy money huh ? No, i will not invest my bitcoins to you.

Relax Steve, it is all a hypothesis still - just looking for some inputs from experienced folks like yourself.

Also let's say it is being conducted by a very trust worthy brand, then you think it will be worthy of participating? remember 1 Winner gets 100 BTC and 20 more gets 2 BTC each.

From a chances ratio, isn't this something worth betting on?

[bering]

i personally don't like to playing lottery because only people with super luck will won it but seeing at your concept seems every participant will only have the percentages less than 1% to won the lottery and that's quite heavy to me and my answer is no however if you're really serious about this as you're still newbie then putting bitcoin prize to escrow is necessary to ensure the winner get their prizes

[imstillthebest]

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost  0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

wow cool but i think 100 btc is to good to be true and many people including me are still starting to have a doubt on your lottery. as i can oftenly see most gambling site or any other gambling related sites dont usually put a high amount of bitcoin as their jackpot prize and some of them are  mostly set a  1 btc to 5btc jackpot prize only but overall gudluck to your new project and i hope that you got some nice traffic and costumers on your site.

[Pursuer]

first of all this is a lottery and lotteries don't have that many people interested in them specially with such a high price for buying the "tickets" which is 130-150 USD based on bitcoin price at that moment. which means even less people will be interested in it.

secondly making a lottery to a provably fair thing is nearly impossible in my opinion. you can add a provably fair system and pick the winner in a fair fashion but that doesn't guarantee fairness of the lottery itself. you may have gotten 1000 players but had 14000 fake entries yourself (the total of 15000). nothing about such system is fair.

[basu77]

first of all this is a lottery and lotteries don't have that many people interested in them specially with such a high price for buying the "tickets" which is 130-150 USD based on bitcoin price at that moment. which means even less people will be interested in it.

secondly making a lottery to a provably fair thing is nearly impossible in my opinion. you can add a provably fair system and pick the winner in a fair fashion but that doesn't guarantee fairness of the lottery itself. you may have gotten 1000 players but had 14000 fake entries yourself (the total of 15000). nothing about such system is fair.

Fair point about fake entries - I didn't consider this.

It is not just a lotto, I'm unable to fully disclose the idea - winning the 100 BTC jackpot is only an additional benefit to add to the excitement, but the actual collection of money is anyway happening for a reason that people are going to pay anyway which serves a real purpose.

So the investment/bet is not necessarily motivated towards winning the jackpot.


However since the Trust and security issues are brought u by almost everyone of you in this thread - I'm wondering how do I enforce the best security, transparency and trust. My thinking was, people/businesses pay to a given wallet for the service being rendered, at the end of it all - winners are randomly selected using a program and the corresponding winning stakes are sent to the winners. DONE. Am I missing something?

Or is their a Escrow service, where all the collections are directly deposited in real time for people to see and verify the Live bounty?

[reliable]

I know the value of 0.01 BTC and to gamble in a lottery the winning amount is said to 100 btc it means you will need  to have the investment form all the players of more than 100 BTC then only they can give you 100 (in case if they give) and remaining would be their profits. So higher chances is that after collecting it will be shut and I would not gamble when chances of my losing is 99.99%

[eternalgloom]

first of all this is a lottery and lotteries don't have that many people interested in them specially with such a high price for buying the "tickets" which is 130-150 USD based on bitcoin price at that moment. which means even less people will be interested in it.

secondly making a lottery to a provably fair thing is nearly impossible in my opinion. you can add a provably fair system and pick the winner in a fair fashion but that doesn't guarantee fairness of the lottery itself. you may have gotten 1000 players but had 14000 fake entries yourself (the total of 15000). nothing about such system is fair.

If all deposits are accounted for, it doesn't really matter if there are 14000 'fake' entries by the owner, as long as the coins are put in the pot so to speak....
People are able to buy more than one ticket, even if one person owns 14000 tickets, they can still lose.

If he can make the draw provably fair, I don't see any problem with a lottery like this.

[alisafidel58]

Basic rules are as follows: Participation cost  0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.
So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

First of all in order for you to get participants in your lottery you need to have a good credential or you on the other hand is quite eligible to be trusted with that amount of money.

There are many scammers out in the internet and no one is in exception to that, everything and everyone from your behalf must be verified first for you to be able get into that kind of lottery business.

People over the internet are smart enough to tell weather a site is a scam or if the game that a person is playing has a too good to be true winning bet.

Would i bet and play at your site the answer is NO, i would rather play at our local lottery station which i know the odds of being scam is 0% while yours has 100%.

[Juggy777]

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost  0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

I'm going to take a neutral stand, unless this all are clarified. What's the site name that will handle it. What method will you use, and please don't say random generator. There has to be a good script for this. No one will do it, unless the fund's aren't escrowed, who'll pay the escrow fee, and 15000 people that makes it a scam, I would recommend 150 people and reduce. You'll need a legendary member backing you. Till then neither do I say a yes or no.

[basu77]

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost  0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

I'm going to take a neutral stand, unless this all are clarified. What's the site name that will handle it. What method will you use, and please don't say random generator. There has to be a good script for this. No one will do it, unless the fund's aren't escrowed, who'll pay the escrow fee, and 15000 people that makes it a scam, I would recommend 150 people and reduce. You'll need a legendary member backing you. Till then neither do I say a yes or no.

Much appreciated.. see it doesn't hurt to share some constructive thoughts.

Well, at this point.. it is just an idea - nothing done yet.. no website or anything yet.. just wanted to see what others thought of it. As a casual observer of how people are investing and trading currencies, this would be another avenue for people to try their luck. How bad can it be - eventually one guy does get 100 Bitcoins.

Most of you guys own gambling businesses yourself, why don't you give this idea some thoughts.. you've the reputation and technology it seems, and I can assure the amount of media coverage you'll get iff done right will anyway boost your business 100 fold even if you don't make any money from this lotto itself.

I'm still analysing the pros, cons and the costs involved - will probably partner with a few of you from this forum and go ahead.. as the idea is not just a jackpot but much much deeper than that. and it sure as hell not a scam.. else I wouldn't be using my own identity or even discussing it on a forum.

I just feel, a 100BTC jackpot could drive huge traffic and we can easily get people to participate as tens of thousands of people are already invested in the market and thousands joining daily. There will be 20-30 winners with one of them winning 100 BTC.. I don't see any downside.. expect for all the negative ramblings of people scamming and stuff.

Frankly I don't even wish to make money from the jackpot itself, all the collections can to the winners - the traffic itself will pay for all the effort.

No one has done a 100 BTC jackpot yet... or have they?

[Pixyoxx]

Sounds not that bad but 0.01 Btc is not small how it looks like to be. After the surge in pricinh of bitcoins, even 0.01 is allot and this may restrict users to get enrolled for something like this. Also partivipants or potential participants should be provided with enough trust that nothing wrong is going to happen with  their btc.

You can rather provide a proto-type or small similar layout as a demo so that it generates trust among possible participants. Well this is quite similar to gambling so people will definetely be attracted.

[marlboroza]

No, idea is not really new, it is lottery with expensive ticket.. I'll rather pay 2€ for eurojackpot.
Not to mention that you won't find 15000 players which are willing to spend 130-140$ on ticket.
Another thing - you are newbie, you will have to use escrow, provide fairness of draw etc. Things are just too complicated.

[basu77]

No, idea is not really new, it is lottery with expensive ticket.. I'll rather pay 2€ for eurojackpot.
Not to mention that you won't find 15000 players which are willing to spend 130-140$ on ticket.
Another thing - you are newbie, you will have to use escrow, provide fairness of draw etc. Things are just too complicated.

Why do you guys keep assuming I would personally do it.. and that's the only option - if one is a newbie in this forum there's no chance to do well in the crypto industry. You mean to say each and every ICO founder or a [Suspicious link removed]pany founder is in this forum building their reputation...

I don't buy into that.. being newbie on this forum has nothing to do with launching a Lotto via a website through strong partnerships with industry leaders. Having good reputation in this forum could be helpful, but not a deal breaker by any stretch.

I make note of your point about finding 15,000 players - I agree this could be ambitious to achieve, but the whole rant about being Newbie.. trust is being easily solved through partnerships. Case in point > 99% of the ICOs who are raising significant sums without an active product and in most cases a MVP or anything.. just based on Roadmaps, Whitepaper and a Team.

[harizen]

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost  0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

Lottery entry in the first place should be that cheap* no matter how big the reward is. Id rather participate in national lottery where my BTC0.00003 can win around BTC80-100 and winning chances is the same as yours. BTC0.01 nowadays is already a decent price and I can diversify it to my preferred gambling type rather than risking it a lottery where there is low chance to win, same with other lotteries. Maybe I will considered if the entry amount will lowered.

You can't make lots of people to joined the lottery with that kind of entry amount and the idea is about "lottery".

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

That is not an investment.

[basu77]

Thanks @harizen, much appreciated. Yes even I feel 0.01 BTC quite a bit of amount.

[Shutup]

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost  0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

Yes I will try all way how to get rich. Because l beleive that that there is a way for me too to be a part of bitcoin as a millionaire. I will search how to do it so that I will prove to be proud at bitcoin that one of this days leg a millionaire already to bitcoon
.All things are possible with God, He is my hope to get all this opportunity to be be rich. Thanks bitcoin you change my life.

[ralle14]

I won't because it'll take time to fill all the entries/tickets for the lottery. What if there's only less than a thousand people that are interested to join the lottery would you continue it ? Also the cut are high there are other lotteries I know that doesn't have any edge. If you're really serious with this you might want to add some alternatives like altcoins because of bitcoin's miner fee.

[Oilacris]

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost  0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

I wont definitely join up or put even 0.01 on that lottery based games. 0.01 btc is way too high for a single ticket and comes worst you are expecting to have a 15,000 participant which is impossible even reaching out 50 participants would really be hard already since interest on lottery based games isnt really that high on this bitcoin world. Not only that basing on calculation you do earn 10 btc on each draw which is on 6.75%.