[BITLOTTO] Mar 1 draw over $2000 or 50BTC! Tickets now 0.1 BTC for Apr 5

[Fiyasko]

WOAH! someone bought 100btc worth of tickets!
http://blockexplorer.com/address/1Cbz6PF7ks85M4zmeWzotX12WUE14JZ29

[1715149331]

1715149331

[1715149331]

1715149331

[1715149331]

1715149331

[Daily Anarchist]

WOAH! someone bought 100btc worth of tickets!
http://blockexplorer.com/address/1Cbz6PF7ks85M4zmeWzotX12WUE14JZ29

Did they not catch the fact that they are suppose to make one tx per ticket?

[BurtW]

WOAH! someone bought 100btc worth of tickets!
http://blockexplorer.com/address/1Cbz6PF7ks85M4zmeWzotX12WUE14JZ29

Did they not catch the fact that they are suppose to make one tx per ticket?

Not sure if you are serious - multiple ticket purchases are supported now.  Did I miss some sarcasm?

[Daily Anarchist]

WOAH! someone bought 100btc worth of tickets!
http://blockexplorer.com/address/1Cbz6PF7ks85M4zmeWzotX12WUE14JZ29

Did they not catch the fact that they are suppose to make one tx per ticket?

Not sure if you are serious - multiple ticket purchases are supported now.  Did I miss some sarcasm?

Oh, my bad. I was unaware of the change. That's cool! Makes it a lot easier for people. I guess the ticker does not automatically update yet. Thanks for the heads up!

[bitlotto]

Oh, my bad. I was unaware of the change. That's cool! Makes it a lot easier for people. I guess the ticker does not automatically update yet. Thanks for the heads up!

It's updated. The 101 BTC tx was one of the first ones for the month. I think the next biggest was 34 BTC... so far.

[bitlotto]

The BitLotto raffle will always pay out at least 99% but we have been toying with a new idea.

Instead of ONE person taking the 99%, how about we split it up a bit. Such as:
-main winner takes 80%
-next winner takes 10% (or two people 5%)
-9 people get 1%
Something like that?

We just wanted to see what others thought. 80% is still quite high for the main winner.
We aren't set on what the %'s should be.

For the people who play, would this be something you would like? Or do you play BitLotto for the chance of getting the whole thing? Having more winners means your chances of winning are higher.

And like I said, we'll always pay out the 99% so the odds for the players will remain excellent. If we did change it, we would do it for a draw in the future. People may have bought their tickets for getting the 99% all by themselves.

[Daily Anarchist]

I prefer winner take all.

[BurtW]

Put it up for a vote at the top of the thread?

[bitlotto]

Put it up for a vote at the top of the thread?

Good idea. Done.

[Stephen Gornick]

Or do you play BitLotto for the chance of getting the whole thing?

$1K USD worth of winnings gets into the "that would be nice"

But larger numbers -- much larger, like in the $100K range, are more likely to be a topic of conversation and, for now, with bitcoin, would be the only way for someone to get a 10,000:1 or better payoff on a jackpot that pays out 99% of wagers.

Having more winners means your chances of winning are higher.

Are you considering adding pool teams?

That would work if you had a kind of setup similar to how you have affiliates now, just call them pool teams.  So I wager on one of the pool teams addresses.  If there is any ticket from the pool that is a winner, then everyone in the pool gets paid proportionate to the amount wagered.

[Otoh]

I've voted for the 99% winner takes all, but would vote for the 80:10:9*1% split if/when the total pot reached over $10,000

I've mentioned before that in the event of a winner getting say over 1,000 BTC then you could wait until they send you a token any amount from their same betting/receiving address to that month's address (or next month's) so that we all know it's still active & in the very unlikely event of them not doing so maybe send them 0.1010101 coins/day (or 0.10770) for a few weeks to try & get their attention & if still no claim is made after 6 months then the prize is forfeit & gets added to the following lotto or something - but if you think it's over complicated np, one day though that prize will be sent to a black hole or random Gox sending address, wiped wallet dat,  etc

[Fiyasko]

I voted for 90% with 91%.
I was Going to vote for 95% but.

I look at it in two ways, There are people who are playing the odds, And aiming for that big jackpot, So they could feel Robbed of 9% of Thier money that they Won.
And in the other idea of, "C'mon let the little guys eat some little fish!"

[bitlotto]

I've mentioned before that in the event of a winner getting say over 1,000 BTC then you could wait until they send you a token any amount from their same betting/receiving address to that month's address (or next month's) so that we all know it's still active & in the very unlikely event of them not doing so maybe send them 0.1010101 coins/day (or 0.10770) for a few weeks to try & get their attention & if still no claim is made after 6 months then the prize is forfeit & gets added to the following lotto or something - but if you think it's over complicated np, one day though that prize will be sent to a black hole or random Gox sending address, wiped wallet dat,  etc

Ya it's possible. I kind of compare it to someone losing a lottery ticket. The problem with your method is that it adds complication to the process. Many users probably have no idea how to send BTC again using the EXACT address they used before. It's not something that's easy to control or even know. They need to be familiar with the workings of Bitcoin.

There is no way to even know if it happened. Perhaps funds that just sit there are for saving. But such is the nature of Bitcoin. People are going to lose BTC. It will just make the rest of the people richer. I do mention on my site to back up your wallet. If it's sent to Gox though, I'm sure they'd figure something out.

But imagine if someone claimed they lost their wallet and they are the winner! Perhaps the real winner barely understands Bitcoin and doesn't even know they won? I HAVE TO pay that address no matter what. It wouldn't be me who lost the BTC but the person who misplaced the wallet. The process is set in motion even before the funds are set. It sucks but it's the only way to guarantee no cheating. If I paid to an alternate address it could be conceived to be fraudulent. I do warn users to back up there wallet and use only approved software. Hopefully it doesn't happen one day. I guess we will see!!!

If I ever think of a way to prevent your scenario I'll definitely do it though!!! The only way so far I know of is for people to back up their wallets.

[bitlotto]

Are you considering adding pool teams?

That would work if you had a kind of setup similar to how you have affiliates now, just call them pool teams.  So I wager on one of the pool teams addresses.  If there is any ticket from the pool that is a winner, then everyone in the pool gets paid proportionate to the amount wagered.

I have considered it and may actually do it soon.

My only concern is that when the pool wins in will be a huge pain to pay everyone.
But I guess if someone made a script that does all the calculations I just have to sit there and go through the list and pay everyone. I imagine there could be A LOT of tiny payments so it would take a while to pay everyone.

Would it be hard to create a script that you input a jackpot price, total pool size, address for pool your are looking at, and use data similar to:

Code:

==WalletTransaction== b46482a6f375297e0c2dc74603fb0d455912a6748ca65efd8130a96211e9f36a
block: 0000000000000330b934c7b123121e9b6062bf647b546cb35e7ca44ba334084c 7 hashes in merkle branch
2 tx in, 2 out
TxIn: prev(68af0855e47753fccab8237f8a42b4e82bbf0fee0357f15e684c4f00b428acab:134) pubkey: 14Xjd8DQ2TUh1xWMtkFWUGjJHKnhL6bPk7 sig: 71:3044...a301 65:0458...165b
TxIn: prev(1ffeb7bb8a8f1f1527f1e621e9a611b6b15d5d7940c9e1872e80c7bd5a5f5948:0) pubkey: 19Dnwjxgg8ZQZF6JwzGZ1hEw6GXBBsrjXS sig: 71:3044...fa01 65:04d7...d7a1
TxOut: value: 0.012653 pubkey: 1MdJErFwEMz1dcVCD5DSFLfuvJC3kjGDhh Script: DUP HASH160 20:e23f...2fa0 EQUALVERIFY CHECKSIG Own: False
TxOut: value: 0.250000 pubkey: 14avxyPW5PgA68kGkDkY1mCGPP8zqkywEx Script: DUP HASH160 20:2753...6bf6 EQUALVERIFY CHECKSIG Own: True
0 vtxPrev txns
mapValue:{'spent': '', 'fromaccount': ''}
timeReceived:Tue Apr  3 19:42:47 2012 fromMe:False spent:False
==WalletTransaction== bf9f0c11fc2f1ff82fa5f4b4769169c619b237dd62e93fbcdf2e091abc1d29ec
block: 0000000000000713d2b400a7435a8a6e946bad44e966ea725bc64ef8c95fbb63 7 hashes in merkle branch
1 tx in, 2 out
TxIn: prev(2dc03e0eb9c764765faebd6d963258902e56400986cd2ba6ecd50061539d0a44:9) pubkey: 1Ez4a2mxKi97eXdnTV1Y4fb8NBZ6BDutGd sig: 71:3044...ae01 65:0452...b7ed
TxOut: value: 0.016960 pubkey: 1M6j77PpTsKwLmJN7sXPFqsYHf5SWdcuMc Script: DUP HASH160 20:dc77...fc57 EQUALVERIFY CHECKSIG Own: False
TxOut: value: 0.250000 pubkey: 14avxyPW5PgA68kGkDkY1mCGPP8zqkywEx Script: DUP HASH160 20:2753...6bf6 EQUALVERIFY CHECKSIG Own: True
0 vtxPrev txns
mapValue:{'spent': '', 'fromaccount': ''}
timeReceived:Tue Apr  3 19:42:47 2012 fromMe:False spent:False

it will then calculate all %'s for the tx's and sent the payment amounts to bitcoind along with matching address from the tx?

[Otoh]

yep, agree & atm it's too low amounts to be an issue, I use blockchain.info wallet so it's easy for me to save each months lotto sent from/to address/es but I can see now that in other wallet systems that may be too complicated for newbie users, if sent from a Gox address then I'm sure it could be retrieved as you say, if a lost wallet dat then it's lost - no question about it - it gets rolled over or something but never sent to an address that didn't make the bet

[bitlotto]

I posted a request to see if anyone wants to make a lottery ticket design for my site:

https://bitcointalk.org/index.php?topic=77998.0

[farfiman]

Concerning the poll- I think it's a very good idea to have 2nd & 3rd prizes
I voted 80% to 1st but any kind of extra prizes will be a nice change.

[bitlotto]

Now officially the biggest BitLotto draw ever!!
Over 284 BTC! I'm sure we'll hit 300 BTC!!

[Fiyasko]

WOO! it's over 300! And im the first person to say so!
can i have a cookie?..or a free ticket?...

I wonder who the man is that put the 15 coins in, Pushing it over

[ineededausername]

WOO! it's over 300! And im the first person to say so!
can i have a cookie?..or a free ticket?...

I wonder who the man is that put the 15 coins in, Pushing it over

The 15 coins came from a lotto pool (I was 5 of those).