Bitcoin Forum
December 10, 2016, 01:11:33 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Bitcoin Charity Lottery [Introductory 0.50 automatic prize pool!]  (Read 1840 times)
Noviz
Full Member
***
Offline Offline

Activity: 129


View Profile WWW
August 03, 2011, 07:23:58 PM
 #1

Decided not to do this in the end. Mods can you please delete this topic. I've sent the bitcoins back to those who bought tickets (and a little extra for the inconvinience)...

Basically I want to pursue my Bit-Syndicate further and have decided I won't have enough time to do both.

YinCoin YangCoin ☯☯First Ever POS/POW Alternator! Multipool! ☯ ☯ http://yinyangpool.com/ 
Free Distribution! https://bitcointalk.org/index.php?topic=623937
1481332293
Hero Member
*
Offline Offline

Posts: 1481332293

View Profile Personal Message (Offline)

Ignore
1481332293
Reply with quote  #2

1481332293
Report to moderator
1481332293
Hero Member
*
Offline Offline

Posts: 1481332293

View Profile Personal Message (Offline)

Ignore
1481332293
Reply with quote  #2

1481332293
Report to moderator
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481332293
Hero Member
*
Offline Offline

Posts: 1481332293

View Profile Personal Message (Offline)

Ignore
1481332293
Reply with quote  #2

1481332293
Report to moderator
1481332293
Hero Member
*
Offline Offline

Posts: 1481332293

View Profile Personal Message (Offline)

Ignore
1481332293
Reply with quote  #2

1481332293
Report to moderator
1481332293
Hero Member
*
Offline Offline

Posts: 1481332293

View Profile Personal Message (Offline)

Ignore
1481332293
Reply with quote  #2

1481332293
Report to moderator
jimbo77
Member
**
Offline Offline

Activity: 78


View Profile
August 03, 2011, 07:26:44 PM
 #2

How do we know you are actually donating?
Yuusha
Full Member
***
Offline Offline

Activity: 196



View Profile
August 03, 2011, 07:29:57 PM
 #3

While the idea is nice and all, I do have two concerns:

1. What jimbo77 said.
2. If 50% is given to charity, the odds will be horrible. I doubt anyone will play. 10%, sure, but not 50%.
Noviz
Full Member
***
Offline Offline

Activity: 129


View Profile WWW
August 03, 2011, 07:31:51 PM
 #4

How do we know you are actually donating?

Sorry, I didn't explain that on here... did on the site though.

Basically what happens is I'll post proof through the use of screenshots (if using an online donation process) or video/photograph if it's an 'in-person' donation. All the previous Lotteries will be placed in an archive along with the proof of payment.

I like to think I'm a trusted member of the community due to my work with BitcoinsReview.com. Obviously only after the first draw I can properly proove myself. As an offer of trust, for the first draw, I'll put 0.50 into the draw fund.

While the idea is nice and all, I do have two concerns:

1. What jimbo77 said.
2. If 50% is given to charity, the odds will be horrible. I doubt anyone will play. 10%, sure, but not 50%.

Thanks for the feedback. Obviously the site is new and there will be a few teething issues such as win percentages. I did expect that this may change. I'll take your suggestion into account.

The main thing is that this lottery is aimed at donating to charity while a lucky person shall win a few bitcoins and not the other way around. Therefore the percentage that goes to charity needs to be reasonable. This being said, perhaps 80-20 or 70-30 would be better? I think 90-10 is perhaps too low as we'll be making next to nothing for charities...

*** EDIT ***

Ok I've changed it to 30-70 for the time being. I'll see what other users think and adjust accordingly.

YinCoin YangCoin ☯☯First Ever POS/POW Alternator! Multipool! ☯ ☯ http://yinyangpool.com/ 
Free Distribution! https://bitcointalk.org/index.php?topic=623937
bitlotto
Hero Member
*****
Offline Offline

Activity: 672


BitLotto - best odds + best payouts + cheat-proof


View Profile WWW
August 04, 2011, 01:53:29 AM
 #5

I just want to let everyone know about my new side project... Bitcoin Charity Lotteries.

The game is run in a similar fashion to BitLotto.
Copier!!  Tongue Just teasing.

How are you determining the winner?

Like the others have mentioned, the part about donating is the tricky part. It would be easy if you could forward to a Bitcoin address but otherwise it's kind of tricky. I've thought about doing something similar but it's really tricky to demonstrate it is not a scam. The hard part is that it has to be converted to cash. If I set up a lottery where 30% is donated, who's to say it actually came from the lottery. For example: say I already budget my personal money for charity. By running a lottery I could use my own donations as proof I'm donating but keep the Bitcoins. Or even collect money from those around me and donate for them. Then keep up to 30% of every lottery. I'm sure you weren't thinking that, but I did worry others would accuse me of doing that if I tried it. I honestly don't know if there is a way to avoid that though. I hate to be a cynic but I'm just pointing out a potential problem. I really do wish you luck! If you want to run a lottery this way I guess they'll just have to trust that you are using those funds to donate money you wouldn't donate otherwise.

I just wish there was actually more charities that took Bitcoins. Then it would be easy.

It kind of made me smile seeing the few similarities to my site! I think you missed the Copyright 2011 BitLotto part though! Just kidding.  Grin

*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.
Noviz
Full Member
***
Offline Offline

Activity: 129


View Profile WWW
August 04, 2011, 10:57:17 AM
 #6

I just want to let everyone know about my new side project... Bitcoin Charity Lotteries.

The game is run in a similar fashion to BitLotto.
Copier!!  Tongue Just teasing.

How are you determining the winner?

Like the others have mentioned, the part about donating is the tricky part. It would be easy if you could forward to a Bitcoin address but otherwise it's kind of tricky. I've thought about doing something similar but it's really tricky to demonstrate it is not a scam. The hard part is that it has to be converted to cash. If I set up a lottery where 30% is donated, who's to say it actually came from the lottery. For example: say I already budget my personal money for charity. By running a lottery I could use my own donations as proof I'm donating but keep the Bitcoins. Or even collect money from those around me and donate for them. Then keep up to 30% of every lottery. I'm sure you weren't thinking that, but I did worry others would accuse me of doing that if I tried it. I honestly don't know if there is a way to avoid that though. I hate to be a cynic but I'm just pointing out a potential problem. I really do wish you luck! If you want to run a lottery this way I guess they'll just have to trust that you are using those funds to donate money you wouldn't donate otherwise.

I just wish there was actually more charities that took Bitcoins. Then it would be easy.

It kind of made me smile seeing the few similarities to my site! I think you missed the Copyright 2011 BitLotto part though! Just kidding.  Grin

Trust is an issue I have thought about. I did explain above how I would proove the donations were being spent on the charities. The best way to do this is being as transparent as possible. Obviously I can only fully proove myself in time yet I think I've built up a repuation for being an honest bitcoin trader.

The winner will be determined in a less complex way as your website but it'll still be fair. Basically I'll take every entry and assign it a number. I'll then place these entries into a hat and get a third party to pick the winner. I won't be entering the lotteries at all so there is no chance of me winning everything.

Whether I keep doing this or not I don't know. I'm gunna see how the first two lotteries go to see if there is any interest.

On an unrelated note, what are your views on Lottery Syndicates and would you allow one to play on BitLotto? I was thinking of setting one up...

YinCoin YangCoin ☯☯First Ever POS/POW Alternator! Multipool! ☯ ☯ http://yinyangpool.com/ 
Free Distribution! https://bitcointalk.org/index.php?topic=623937
bitlotto
Hero Member
*****
Offline Offline

Activity: 672


BitLotto - best odds + best payouts + cheat-proof


View Profile WWW
August 04, 2011, 01:17:45 PM
 #7

On an unrelated note, what are your views on Lottery Syndicates and would you allow one to play on BitLotto? I was thinking of setting one up...
I think it would be great and I have no control who enters the lottery.  Wink Who knows, perhaps there already are people doing it privately and buying tickets together. I have no problem with you doing one as long as it is understood I'm not officially endorsing your syndicate. I hope it is a success!

*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.
Noviz
Full Member
***
Offline Offline

Activity: 129


View Profile WWW
August 05, 2011, 12:00:41 PM
 #8

Just sold the first ticket Smiley

YinCoin YangCoin ☯☯First Ever POS/POW Alternator! Multipool! ☯ ☯ http://yinyangpool.com/ 
Free Distribution! https://bitcointalk.org/index.php?topic=623937
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!