100g of Silver (Raffle)

[PhoneBloks]

Hello all,

maybe some of you know I am selling silver bars at bitcointalk

https://bitcointalk.org/index.php?topic=307826.new#new

I have idea about raffle. Would someone be interested in ?

Basic rules: (fixed number of tickets, sorry my fault)

Prize: 100grams of Silver (100x1g bar)
Number of "tickets" = 50
Prize of 1 ticket = 0.01 Btc (for this round of raffle)
Max 5 tickets per username

Raffle will start in a few days

Winner will be randomly chosen when 50 tickets will be sold.

How to choose winner ?

Lets say there will be "magic number" between 1 - 100 and this "magic number" will be chosen before raffle begins and some gold member can choose this number to prevent any manipulation from my side

Every participant will have to guess this number .. 1 ticket = 1 guess ....

Winner will be the one, whos guess will be nearest to this "magic number"

Example:
Magic number is 65 ....

Everyone who ownes 1 ticket (1 guess) ..or more tickets (2 tickets = 2 guesses) will guess their numbers ... like 1  3 4 6 9 10 59 77 99  .... so number 59 is nearest to magic number so person who guessed number 59 is winner ...

I will send 100grams of silver to winner If there will be interest in raffle, we can make another round anytime in future.


Would someone be interested in such raffle ?

PS: please correct my grammar mistakes thank you

[PhoneBloks]

I would lower the raffle price, and sell more raffles. People would be a lot more interested if they can enter the raffle for 0.01 or 0.005.

Thank you for your idea, I was thinking about that, but in such situation, (0.01 per ticket) ... there needs to be sold 50 tickets and it can take long time until all tickets are sold ...

[marcovaldo]

Yes, and you should only allow 1 ticket / person.

[lucaspm98]

Yeah Id play for 0.01 but Im not going to throw away 0.05, I think you would sell the many smaller entries faster than a few large entries.

[PhoneBloks]

Yeah Id play for 0.01 but Im not going to throw away 0.05, I think you would sell the many smaller entries faster than a few large entries.

do you think there will be 50 people willing to enter raffle ? I dont think so ... I can try lower it to 0.01 but allow to buy more then 1 ticket by 1 person .. hm ?

[Martijnvdc]

lower price, more tickets, max 5 tickets per person.
more people = more fun!

[lucaspm98]

lower price, more tickets, max 5 tickets per person.
more people = more fun!

This sounds like a good compromise!

[PhoneBloks]

lower price, more tickets, max 5 tickets per person.
more people = more fun!

This sounds like a good compromise!

I understand your idea boys ..but ...

I am afraid that 50 people is too many. We can find 10 - 20 maybe 30 people who would like to participate and what then .. we will wait 1 - 2 - 3 months to start raffle until all tickets are sold ?

Allow few days to settle down this topic, I can change rules as you mentioned (0.01 per ticket and 5 tickets per user) and we can try 1st round then

[PhoneBloks]

any other ideas or tips .. ?


Can we start 1st round of raffle ?

[DiamondCardz]

lower price, more tickets, max 5 tickets per person.
more people = more fun!

This sounds like a good compromise!

I am afraid that 50 people is too many.

1 person can still buy 5 tickets and fill 10% of the tickets, can they not?

[Eternity]

How much worth one ticket ?

[PhoneBloks]

lower price, more tickets, max 5 tickets per person.
more people = more fun!

This sounds like a good compromise!

I am afraid that 50 people is too many.

1 person can still buy 5 tickets and fill 10% of the tickets, can they not?

yes we adjusted rules that 1 person can buy max 5 ticket as you mentioned ... you think thats bad idea ?

[PhoneBloks]

How much worth one ticket ?

0.01 Btc - its mentioned in first post

[amiryaqot]

sounds interesting.. waiting for to get start there

[tonino]

would this be legal? paying the raffle ticket with btc and getting silver as a price?

[ninjafocus100]

Current 100 g of silver = about usd $65

10 x 0.01 btc = 0.1 btc *$450 = $45.

$45 - $65 = -$20.

Did I get my math right?

You are actually making a loss based on the current market price for both BTC and Silver?

[PhoneBloks]

Current 100 g of silver = about usd $65

10 x 0.01 btc = 0.1 btc *$450 = $45.

$45 - $65 = -$20.

Did I get my math right?

You are actually making a loss based on the current market price for both BTC and Silver?

fixed number of ticket to 50 - sorry my fault, now everything looks like be allright

there are 50 tickets ...

no I am not making loss ...


and 100 g of silver for 65 is spot price, if you have real bullion silver price is higher, if you have 1 gram bars - productions costs are higher so price per gram is also higher

100x1 gram bars are not best for price per gram ratio .... thats fact, but they can be easily divided to 1gram bars ... with 1oz or 10oz or 1 kilo full bar ..dividing to smaller ones are not so easy


my 100x1g are selling for aprox 160 usd (ebay etc)
1000 g bar is selling for aprox 1000 usd

you can see there is better price per gram ratio, but small 1gram bars have advantages mentioned above

[PhoneBloks]

Any other ideas ? If not I would start 1st round of raffle tomorrow

[PhoneBloks]

So we are looking at 50 tickets for 0.01 BTC a piece?

yes exactly. max 5 ticket per user

[Dabs]

And how do you enforce the 5 max? Some people have 2 accounts, or more. If they pay, let them have the same odds.