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Question: What do you think would happen if ticket price changed to 0.05 BTC?
Jackpot will be higher - more will play and many people will still purchase at least 0.25 or more - 37 (39.4%)
Jackpot will be the same - there will be more people playing but many will bet less - 17 (18.1%)
Jackpot will be lower - many people will bet the bare minimum - 40 (42.6%)
Total Voters: 93

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Author Topic: [BITLOTTO] Mar 1 draw over $2000 or 50BTC! Tickets now 0.1 BTC for Apr 5  (Read 49791 times)
Stephen Gornick
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March 13, 2012, 10:44:21 PM
 #161

is there any way to avoid this or a work around so that it doesn't take forever just to place 10 BTC worth of bets?

If you were running a local wallet then that could be scripted.  But for using My Wallet from http://BlockChain.info/wallet you are stuck when you don't have remaining inputs of at least 0.25 BTC.   Here's a suggestion though.  Create a handful of addresses (e.g., 10) and fund them each with 0.25 BTC (or .2505 if you plan to pay a trx fee also.)

You could use an online ewallet such as that provided with a Mt. Gox account to let you withdraw 0.25 BTC to each of those My Wallet addresses.

One way to do that might be to use BTCRelay.   For example, if you created a Paylist of ten addresses from your My Wallet, and then send to the BTC Relay Deposit address 2.5100 BTC  (0.25 BTC + 0.0005 trx fee plus 0.0005 for the BTC Relay fee = 0.251 then X 10).  After that confirms it will then send out the relayed payments.  After about an hour and a half you will have 0.2505 in each of ten addresses in My Wallet -- that amount being the perfect size for buying BitLotto tickets.

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Otoh
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March 14, 2012, 12:52:27 AM
 #162

many thanks! I'll try this & let the thread know how I get on, first must sleep

edit: thanks again, I used your first method & sent 2.505 to each so that I can use each newly created address 10 times for bet payments before needing to top them up, but this is still a fair amount of work to place $1.35 bets, I hope that Bitlotto take up my suggestions on how to make a big bets individual address for each person who wants it & that then it does the donkey work for them, then one could send 10 coins to it & it would resend them on as 40 entries, much easier & this will generate much more punters I'm sure

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March 14, 2012, 10:23:23 PM
 #163

well finally my 11 BTC + bets are in, but way too much work, time, effort - I won't bother to go through this every month even I've got it somewhat more streamlined now, seriously 99% payback is big, it will ataract a ton of punters - but not one if they can't just make their bet in one single tx, be it 10, 100, 1,000 BTC & yes - it will happen, but no way as it's set up atm

offer a bounty, or collect a fund or something to get that in place, there isn't an anonymous 99% payout return lotto in the world atm - not even close, this could be/should be big - I'll commit to a 5 BTC donation on completion of this for starters to see it happen & once you've got that up then translate a web page for it to Punjabi & Mandarin, Cantonese, Zhoutongise etc then we can look forward to exponential BTC adaption growth just on the back of demand for this serive & 5 figure jackpots in the very near future (at 1% you could also prob give up ur day job) & get a move on before ZT or someone clicks to how hot an earner this could be

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March 15, 2012, 09:03:38 PM
 #164

well finally my 11 BTC + bets are in, but way too much work, time, effort - I won't bother to go through this every month...
Ya, I'll be looking into something. I do agree that for people who want to bet a lot it is a pain! Using Bitcoin on your computer is a bit easier though. I will look into a solution that hopefully works. Your not 1B8mGvModZcEpNSEesF7vdvmrgstXn5mjL are you? They did multiple 0.25 all in one tx.

Thank you for the feedback and the pledge for a script... I just have to think about how I want to do it. I'm really paranoid about having a wallet exposed to the internet with lottery funds. I may just have to do it manually myself...

*Next Draw Feb 1*  BitLotto: monthly raffle (0.25 BTC per ticket) Completely transparent and impossible to manipulate who wins. TOR
TOR2WEB
Donations to: 1JQdiQsjhV2uJ4Y8HFtdqteJsZhv835a8J are appreciated.
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March 15, 2012, 09:43:14 PM
 #165

cool, no that's not me (looks like it's a dumb Mod, see address  Wink, I'm newb -1 lvl, I learnt how not to fail at that last month, loads of peeps like me will take for ever if ever to run a wallet on their computers because it's just too much time you have to invest in trying to understand & secure it, my bank is Gox, my wallet is blockchain.info atm for under 50 BTC, soonish I hope to move my main holdings to Armory wallet but that I know will be a while as it needs debugging, I will have to get familiar with it, would like a dedicated offline comp for it with windows & stuff, so takes time

the way I'm suggesting works just like you already have set up, but you just take the funds sent in a lump sum to designated fat addresses 'the gordos' & either manually or with a bot somehow resend them in an open/trackable manner to whichever month's lotto is current in 0.25 slices - it will be big, I promise you & like the Gox, the first one in gets to win


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March 15, 2012, 09:44:58 PM
 #166

One way would be to get a wallet to add this feature.  Ask StrongCoin, BlockChain.info, Armory, etc. and see who adds it first.  Simple to add to a wallet and then it would be safe.  Just a way to say do this same transaction N times.

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March 15, 2012, 09:47:06 PM
 #167

One way would be to get a wallet to add this feature.  Ask StrongCoin, BlockChain.info, Armory, etc. and see who adds it first.  Simple to add to a wallet and then it would be safe.  Just a way to say do this same transaction N times.

perfect! can't wait  Smiley  & has loads of other potential applications where you regularly wish to repeat the same tx, either at same time, regularly, or just later

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bitlotto
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March 15, 2012, 09:54:37 PM
 #168

I'll commit to a 5 BTC donation on completion of this for starters to see it happen...

OK, I figured out how I'd handle bigger payments. It just came to me. For it to work I'd need a script so others can check results without TOO much difficulty. Right now people can look up the hashes from one page and search themselves for the winner.
 
The script (probably python as there is code out there to read the blockchain) would:
-ask for the first 10 digits of the BitLotto address
-read the local copy of the blockchain and find all tx's that are 0.25 or more for that address
-if a tx is over 0.25 then determine how many full multiples of 0.25 it is (0.30 for example is still only one ticket)
-each multiple will be a hash (sha256) of the (tx hashN) where N is a number for each multiple over 0.25
-mark each "new" hash with a "*" before the hash so people can figure out what hash it originally came from
-if people make multiple 0.25 payments all in one tx it will also create new hashes for that tx
-output all the hashes to a text file

eg.

720b8516a2...
b46482a6f3...
*92dc6e8d2...(b46 paid 0.50)
ac2efc51e2...

If such a script exists then I can easily accept ANY amount. And the person would only have to send ONE payment! The script is mostly just so others can verify results and keeps it transparent.

I don't have much BTC but I'll chip in 2BTC so a total of 7 BTC for a script....

Anyone interested?

*Next Draw Feb 1*  BitLotto: monthly raffle (0.25 BTC per ticket) Completely transparent and impossible to manipulate who wins. TOR
TOR2WEB
Donations to: 1JQdiQsjhV2uJ4Y8HFtdqteJsZhv835a8J are appreciated.
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March 15, 2012, 09:59:19 PM
 #169

One way would be to get a wallet to add this feature.  Ask StrongCoin, BlockChain.info, Armory, etc. and see who adds it first.  Simple to add to a wallet and then it would be safe.  Just a way to say do this same transaction N times.
I'll try convincing them. If more people write too it will help increase the odds that such a feature will be added.

*Next Draw Feb 1*  BitLotto: monthly raffle (0.25 BTC per ticket) Completely transparent and impossible to manipulate who wins. TOR
TOR2WEB
Donations to: 1JQdiQsjhV2uJ4Y8HFtdqteJsZhv835a8J are appreciated.
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March 15, 2012, 10:18:40 PM
 #170

better & better, here's a fat second pledge, the first month that you get this up & running I will bet 100 BTC* in a lump sum in the first few days of it being open & like the BFL Bitforce Single raffle the sweeter the honey pot, then the more will come swarming in to pollinate it...

edit, I'd then expect, just guessing, at least 500 BTC to be wagered that kick start/kick off month because 100 coins is certainly worth a punt at on 99% payback to players, but the sky's the limit  Grin

if I happened to win then I pledge do the same for the next month & continue until losing  Wink

Otoh ~ helping to make it happen  Tongue

*edit 16 March: on condition the Bitcoin price is still > $5 otherwise I'll (most likely) wait until it is so in the first week of a subsequent Bitlotto before betting

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Otoh
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March 16, 2012, 11:59:37 AM
 #171

One way would be to get a wallet to add this feature.  Ask StrongCoin, BlockChain.info, Armory, etc. and see who adds it first.  Simple to add to a wallet and then it would be safe.  Just a way to say do this same transaction N times.

before I post on Armory's thread to offer the 5 BTC bounty to any wallet service that implements this first (if it's before someone comes up with a script to do it on Bitlotto's end), I just want to check that it would work, when I send coins from my blockchain.info wallet after 2 or 3 tx from the same address that address is temporarily drained of coins due to Bitcoin's weird feature of grabbing a bunch to send back to itself with every tx, wouldn't the same problem affect any other wallet service or is there a way around this, maybe it would have to be: for this same tx to be repeated n times, it first sends x amount needed (in case 0.2505 BTC) to n different new addresses & then on from those n new addresses to the current month's Bitlotto address (each time adding the 0.0005 BTC fee) & keeps those n new addresses in an address book folder or something in case one of them wins & is sent the prize - or is there an easier way to do this for a wallet service?

edit: posted the request on Armory's thread for feedback from there anyway, feedback on how this would work here also appreciated

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March 17, 2012, 04:01:09 AM
 #172

Even without a script I decided I'm going to change how BitLotto operates. I'd still LOVE a script as it will make checking my results easier!

Here's how it will happen:
-say someone pays 0.75 to the BitLotto address
-the tx hash is the first ticket
-the tx hash is then hashed two more times adding a "1" and "2" at the end of the tx hash and hashed

eg. the 0.75 tx hash is: 5ac5c9006b508aaff749aa83849b433a97276a89c18e6c932962fe113aea0b5e
the next two tickets are:

sha256(5ac5c9006b508aaff749aa83849b433a97276a89c18e6c932962fe113aea0b5e1)
=cfc92b48d279d7fc8e92f0bd22f865d0ccc30b059e18ec7f477bea22f73c2c06

sha256(5ac5c9006b508aaff749aa83849b433a97276a89c18e6c932962fe113aea0b5e2)
=cc5e616f0ad6854b84e3980020926bc7418323fb8f2a6175d5d88f355bc91568

This will allow people to play without worrying about sending a bunch of 0.25 payments. Just pay the total for whatever amount you want.

Even though the results will be harder to check it is still possible. I'll post all the hashes in a text file or something and hopefully a script is done sometime soon. I'll also try to update the site soon reflecting this change.

If anyone wants to pay amounts other amounts than 0.25 before the site is updated then feel free to do so.

*Next Draw Feb 1*  BitLotto: monthly raffle (0.25 BTC per ticket) Completely transparent and impossible to manipulate who wins. TOR
TOR2WEB
Donations to: 1JQdiQsjhV2uJ4Y8HFtdqteJsZhv835a8J are appreciated.
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March 17, 2012, 03:41:12 PM
 #173

Problem solved!  So I can't wait to win this next one (I have obviously been saving my luck for it) - it is going to be big!

better & better, here's a fat second pledge, the first month that you get this up & running I will bet 100 BTC* in a lump sum in the first few days of it being open & like the BFL Bitforce Single raffle the sweeter the honey pot, then the more will come swarming in to pollinate it...

edit, I'd then expect, just guessing, at least 500 BTC to be wagered that kick start/kick off month because 100 coins is certainly worth a punt at on 99% payback to players, but the sky's the limit  Grin

if I happened to win then I pledge do the same for the next month & continue until losing  Wink

Otoh ~ helping to make it happen  Tongue

*edit 16 March: on condition the Bitcoin price is still > $5 otherwise I'll (most likely) wait until it is so in the first week of a subsequent Bitlotto before betting

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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March 17, 2012, 11:00:54 PM
 #174

that's great news, as we're already well in to April's draw, I pledge placing a 100 BTC bet in the first few days of the May draw ~ with a 99% return to players that has got to be worth at least 0.25 BTC of anyone's money for a shot at the pot, which should be easily worth a BTL's Bitforce Single or 3 by the end of the draw  Wink

same conditions as original pledge, price over $5 etc

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March 18, 2012, 01:25:42 AM
 #175

I notice the winner of the last draw (March 7th's) hasn't gone public nor has spent the funds (102.5275001 BTC) yet:
 - https://blockexplorer.com/address/1Nb2W2F56kuZeKAAhyEAbTomfn3RPt4t2D

Either someone with a fantastic self-restraint or possibly someone who hasn't noticed a bulge in their Bitcoin wallet?

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March 18, 2012, 05:14:01 AM
 #176

I notice the winner of the last draw (March 7th's) hasn't gone public nor has spent the funds (102.5275001 BTC) yet:
 - https://blockexplorer.com/address/1Nb2W2F56kuZeKAAhyEAbTomfn3RPt4t2D

Either someone with a fantastic self-restraint or possibly someone who hasn't noticed a bulge in their Bitcoin wallet?

I noticed too! I kind of dread the thought of one day someone winning never to check their wallet again. I guess that happens with other lotteries too. Someone wins but never realizes and throws out the ticket.

*Next Draw Feb 1*  BitLotto: monthly raffle (0.25 BTC per ticket) Completely transparent and impossible to manipulate who wins. TOR
TOR2WEB
Donations to: 1JQdiQsjhV2uJ4Y8HFtdqteJsZhv835a8J are appreciated.
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March 18, 2012, 10:41:03 AM
 #177

or they made a mistake & sent the bet in from somewhere like Gox where the sending address that Gox uses are not the same as account deposit ones

another tweak that you could make (maybe for when it's a jackpot of over 100 coins) would be that peeps have to claim their win by sending in a token small amount after the draw to show that the address is still active & hasn't been lost, you could also send out daily small token amounts to help notify them, then if after 1 month or something of the prize not being claimed it's just rolled over to the next month for a bigger prize or 1st & 2nd say, or went in to a pool for a once a year fat one - none of this would help though in the case of using Gox etc to bet where if/when you realised you'd have to contact Gox & try to claim the payment in to one of their sending addresses that was on your history

Node40.com is a leader in DASH hosting, dedicated exclusively to fully managed masternode hosting. Professional, organized, and responsive. I have many dozens of nodes with them.    
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March 18, 2012, 10:49:06 AM
 #178

I notice the winner of the last draw (March 7th's) hasn't gone public nor has spent the funds (102.5275001 BTC) yet:
 - https://blockexplorer.com/address/1Nb2W2F56kuZeKAAhyEAbTomfn3RPt4t2D

Either someone with a fantastic self-restraint or possibly someone who hasn't noticed a bulge in their Bitcoin wallet?

I noticed too! I kind of dread the thought of one day someone winning never to check their wallet again. I guess that happens with other lotteries too. Someone wins but never realizes and throws out the ticket.

try sending them 0.10770 BTC maybe  Wink  though if they're not checking their wallet or have lost it it won't help jog their memory, blockchain.info wallets notify one of payments received I think

Node40.com is a leader in DASH hosting, dedicated exclusively to fully managed masternode hosting. Professional, organized, and responsive. I have many dozens of nodes with them.    
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March 18, 2012, 09:31:38 PM
 #179

another tweak that you could make (maybe for when it's a jackpot of over 100 coins) would be that peeps have to claim their win by sending in a token small amount after the draw to show that the address is still active & hasn't been lost,

That would really be confusing for most.  Additionally the bitcoin.org client doesn't support choosing which inputs to use for a transaction so that solution isn't really even workable at this stage.

Anyway, the winner may actually be well aware of having won the prize but just hasn't needed to spend it yet.

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March 18, 2012, 11:00:15 PM
 #180

Anyway, the winner may actually be well aware of having won the prize but just hasn't needed to spend it yet.
For sure. I think some people may even win and decide to not open the wallet so they don't risk losing it. Only to open it many many years in the future.

*Next Draw Feb 1*  BitLotto: monthly raffle (0.25 BTC per ticket) Completely transparent and impossible to manipulate who wins. TOR
TOR2WEB
Donations to: 1JQdiQsjhV2uJ4Y8HFtdqteJsZhv835a8J are appreciated.
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