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

[szpalata]

0.01 btc to 100 btc? need 1500 participants to do that? i think its really hard. First think if new site will be hard to get too many loyal member because 0.01 isnt small amount now except you give free bet first "may be" we'll try. Then will be hard to get trust from member for new site, so to get 1500 members isnt easy. Also small chance to get prize make many people doubt to join.
But nothing is impossible if you make interesting concept promo etc, good luck with your project.

That even means he wants 15 Bitcoins for the gamble since 1500 x 0,01=15, and i don't think even an individual with 15 bitcoins will ever want to gamble them for 100 bitcoins ever which makes this too risky and herculean of a task to canvas all these members.

[crwth]

0.01 btc to 100 btc? need 1500 participants to do that? i think its really hard. First think if new site will be hard to get too many loyal member because 0.01 isnt small amount now except you give free bet first "may be" we'll try. Then will be hard to get trust from member for new site, so to get 1500 members isnt easy. Also small chance to get prize make many people doubt to join.
But nothing is impossible if you make interesting concept promo etc, good luck with your project.

That even means he wants 15 Bitcoins for the gamble since 1500 x 0,01=15, and i don't think even an individual with 15 bitcoins will ever want to gamble them for 100 bitcoins ever which makes this too risky and herculean of a task to canvas all these members.

They could say that they would want to gamble 15 Bitcoins with the chance of winning 100 but that is probably going to be a scam or something because no one right now would do that knowing that the price of Bitcoin is really high. Probably when it what's in the past where Bitcoin is cheaper.

[basu77]

The idea is way more sophisticated than straight forward gambling of money, I guess you guys didn't read the entire thread ..

However if I do make the time and find the right partners to execute this, will definitely share with you guys.

Thanks for all your comments, definitely helpful.

[milewilda]

0.01 btc to 100 btc? need 1500 participants to do that? i think its really hard. First think if new site will be hard to get too many loyal member because 0.01 isnt small amount now except you give free bet first "may be" we'll try. Then will be hard to get trust from member for new site, so to get 1500 members isnt easy. Also small chance to get prize make many people doubt to join.
But nothing is impossible if you make interesting concept promo etc, good luck with your project.

That even means he wants 15 Bitcoins for the gamble since 1500 x 0,01=15, and i don't think even an individual with 15 bitcoins will ever want to gamble them for 100 bitcoins ever which makes this too risky and herculean of a task to canvas all these members.

They could say that they would want to gamble 15 Bitcoins with the chance of winning 100 but that is probably going to be a scam or something because no one right now would do that knowing that the price of Bitcoin is really high. Probably when it what's in the past where Bitcoin is cheaper.

As always if all offers/rates/prizes are too good to be true then most likely of them are scams even if i have 15 btc or more in my own wallet then i wont really risk on this thing no matter what. basing on 0.01 investment it would really require lots of players which we do all know that lottery games doesnt really make a sound on this marketplace.

[God Fist]

So basically i'll be investing 0.01 bitcoin which is equivalent to 140$ and is equivalent to a week's work of a normal job in my country to have a chance of 1/15000 to win a 100 btc which is less than the chance to win the lottery ..
This is not gambling at all , this is throwing money reinvented or just a scam !
We all agree that gambling has a binary output based on luck , but i don't think that the luck of all the humain beings will be enough to win this .

[Cobalt9317]

No one is going to invest 0.01BTC

Investment means something you'll earn by compounding the capital+interest constantly.

It is a gambling not an investment, don't take any further action because the probability that the community will trust you is low than 2% but if you escrow the funds it will be 50%

If you have a script and if that script is open source anyone could verify that the winner of 100BTC will not be a rigged one. Then and only then I will invest in your lottery if I have extra 0.01BTC.

[ethereumhunter]

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 think this is too suspicious because the prizes are too big for us if we can be a winner and the second winner is only get 2 btc. since the bitcoin price now is too expensive, this will attract many people to try this lottery and if they don't know anything, they will getting scam by doing this. so I think it is better to be careful when you want to join in this lottery and think twice before you make a decision although 0.01 btc is not much, your chances to be a winner is small.

[Bitinity]

I'm sure it wont work, no one will invest on your lottery. It will take too many years to get all the slots filled, how could you expect to get 15,000 users while in fact it will be very hard to get 100 users? Even if you will use very trusted escrow, I doubt your plan will run as what you expect.
I know this is your plan to make profit for yourself as by calculation you will get 10btc if 15,000 slots filled but to be honest you better to have other ideas instead of lottery.

[Lionidas]

This would be known as a raffle.
Since you are basically giving out tickets to a select few who are in essence "donating" to a pot where the winners will be the only ones to win anything.
There are government funded and run lottery organizations for this already.
Nothing new what you are saying you are "working on something".

[Caladonian]

Personally I won't participate, instead of playing lottery I will invest that into trading even in a small start chances to earn will be much better, and with the flow of your business I guess you should use gamble and not to invest, as investment have some much bigger assurance to earn and not just risking your hard earn money.

[Compa]

0,01 btc to win 100 btc is seems impossible to get it
I am not sure to participate in lottery like this, I do not think it makes sense at the moment.

[rickadone]

Personally I won't participate, instead of playing lottery I will invest that into trading even in a small start chances to earn will be much better, and with the flow of your business I guess you should use gamble and not to invest, as investment have some much bigger assurance to earn and not just risking your hard earn money.

I too hate lotteries. Even OP is offering for 100 satoshi, I believe I will not prefer to participate in any kind of lotteries as I do not believe into making of easy money. Yes, basically I do not depend on my luck factor to favor me for any financial help. I learned this fact from gambling in a hard way. So, getting back to the same beginning point after many hassles will not be giving any meaning for my hard work.

Instead of testing my luck with lotteries, I would definitely prefer to invest into any promising ICOs. Because, there I am confident that I will be making some returns for my investment. I am capable of finding good project so why not trying ?

[silvester4]

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...

It's a nice idea to have when you (yeah you, OP) want to make a quick buck. For everyone else, it makes no sense. Let me give you an example:

If i will buy everyone of the 15000 Tickets, i paid 150 BTC. I will only get 140 BTC back from the lottery, so i lost 10 BTC (your profit). People could just gamble to have an even better chance of winning something.

My advise: Increase the amount of tickets, decrease the price drastically - maybe 10000 Sats each. Also, it's not neccessary to have such a big jackpot. What about 1 BTC for the first place and lower prizes for 99 additional participants?
People have a "higher chance to win" (at least it looks like this to them) and the price for participating is low. Everyone can afford to lose 10000 Sats.

[Oilacris]

Personally I won't participate, instead of playing lottery I will invest that into trading even in a small start chances to earn will be much better, and with the flow of your business I guess you should use gamble and not to invest, as investment have some much bigger assurance to earn and not just risking your hard earn money.

I too hate lotteries. Even OP is offering for 100 satoshi, I believe I will not prefer to participate in any kind of lotteries as I do not believe into making of easy money. Yes, basically I do not depend on my luck factor to favor me for any financial help. I learned this fact from gambling in a hard way. So, getting back to the same beginning point after many hassles will not be giving any meaning for my hard work.

Instead of testing my luck with lotteries, I would definitely prefer to invest into any promising ICOs. Because, there I am confident that I will be making some returns for my investment. I am capable of finding good project so why not trying ?

ICO investment would be a better choice and be more worth of on our satoshis than on trying out this lottery game. Chances on making profit on ICO investments would be consider as 50-50% chances knowing that there is only 2 ways where do prices go either a pump or dump which we can able to witness this thing on short period of time unlike on what op is proposing there 15,000 participants and filling it out before making a draw would really takes forever.

[Hhampuz]

I think that you could definitely get people in to this and I have no doubt that you'd be able to fill the entire thing.. however for you to take out 10 BTC as your cut is a bit excessive.. $100k for hosting a lottery? That'll be a hard selling point. In all honesty I'd say that you can take 0.1 BTC or something and that's a decent profit just to host this thing.. I'd do it for that amount .

[mrcash02]

Personally I wouldn't, the chances are too low for the amount I would have to "invest".

ICO investment would be a better choice and be more worth of on our satoshis than on trying out this lottery game. Chances on making profit on ICO investments would be consider as 50-50% chances knowing that there is only 2 ways where do prices go either a pump or dump which we can able to witness this thing on short period of time unlike on what op is proposing there 15,000 participants and filling it out before making a draw would really takes forever.

Yes, even not being an ICO's fan, it would be much better than lottery. At least in case of loss it wouldn't be total like in lottery and other gambling games. Lotteries are very common too, almost every country must have this, even on those countries where gambling is forbidden there is lottery (and much cheaper than 0.01 BTC to buy a ticket...). ICOs have more chance to success, on the virtual world there are more people looking for this than for lotteries.

[glowing10]

Investing 0.1 in your own busniss and try to earn 100  btc is a dream and if you invest in someone else busniss and risk them is not a good idea you need to work with your own money not give them and risk for a scam

Their is no point when you know winner would be just 1 and not many and out of thousand of entry if you see % it is negligible . Hence probability of you winning is not much to risk those 0.1 btc. Instead I am sure if I invest now this in some coins as market is down I would get much better returns and can easily double in coming month mostly.

[boyptc]

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

I want to have 100 BTC but to be idealistic I don't think that there's a possible way of doing this on an instant basis. Its going to be a long way before you'll make even 1 BTC with 0.01 BTC. And I'm not going to join into something that I have no assurance or just a little bit of chance that I would be earning that much.

I'd do it for that amount .

I bet it he won't do it with your suggested amount. 

[lienfaye]

Investing 0.1 in your own busniss and try to earn 100  btc is a dream and if you invest in someone else busniss and risk them is not a good idea you need to work with your own money not give them and risk for a scam

Their is no point when you know winner would be just 1 and not many and out of thousand of entry if you see % it is negligible . Hence probability of you winning is not much to risk those 0.1 btc. Instead I am sure if I invest now this in some coins as market is down I would get much better returns and can easily double in coming month mostly.

Thats right its not worthy to risk your money in lotteries with a bit chance for you to win. For sure 99.9% you wont be selected to those winners and just like what you have said it would be better to invest in coins that is in dips now or in promising ICO's that are likely to succeed rather than risk your money for nothing. Investing is more realistic and has a possibilites of good return.

[Barcode_]

The participation cost of 0.01 bitcoin to enter into the lottery is too high, and besides how do you ensure that your lottery draw is provably fair in the first place? And who will be the escrow for the funds to payout the winner? Frankly speaking, I would deem this type of lottery games suggested by new members who just register on this forum to be highly suspicious of scamming other users money.