Win one bitcoin

[bitcoinisbest]

I am seeing good progress despite the doubt we have here. I see there are a lot of members who suggested escrow for the safety of the fund but no sure if the OP is still up for that. Anyway, good to see the spots are filling out. 19 filled up so far. Good number.

~snip~

This is where we need to think sensibly because greed is something which if we can control things will only become better for us. And we fall in this trap of greed seeing lucrative 1 btc then we know what are the chances of our winning as compared to others.

If you buy 1 spot then your chances are 1/1000 which is way better than the national lottery. The big hesitation here is that trusting the OP where in NL you trust them.

Agree chances of winning are way better here as compared to national lottery. But again it becomes the part of trust as you are not sure how will the draw happen and if can be rigged as well and given to their known ones. Obviously no one would like to give to third party unless you know those who run them personally who are legitimate.

[AB de Royse777]

A game with a House Edge of 50%: If you buy all the tickets at 0.002BTC, you will be spending 2 BTC to win 1 BTC (50%).
I'm surprised if anyone really buy those tickets, you will be much better by playing in any crypto casino.

Compare:
Buy 1 ticket at 0.002BTC gives 0.1% chance of winning 1 BTC
But if you play "Dice" in any BTC casino, betting 0.002BTC at 0.1% chance is paying 1.987 BTC (house edge 1 %)


If the tickets were cheaper, it would have sense. 50% house edge is too much

I don't care if this become successful for them or not but I think they do have expenses.

Hosting,
Marketing
Affiliates
Managing

these are some expensed and they need to keep space for these expenses as well. As I said my only issue is the trust or I do not see anything wrong with this kind of games.

~snip~

Agree chances of winning are way better here as compared to national lottery. But again it becomes the part of trust as you are not sure how will the draw happen and if can be rigged as well and given to their known ones. Obviously no one would like to give to third party unless you know those who run them personally who are legitimate.

Trust is very big deal.

I have seen people to scam even $1 worth of Bitcoin in this forum.

[panjul07]

A game with a House Edge of 50%: If you buy all the tickets at 0.002BTC, you will be spending 2 BTC to win 1 BTC (50%).
I'm surprised if anyone really buy those tickets, you will be much better by playing in any crypto casino.

Compare:
Buy 1 ticket at 0.002BTC gives 0.1% chance of winning 1 BTC
But if you play "Dice" in any BTC casino, betting 0.002BTC at 0.1% chance is paying 1.987 BTC (house edge 1 %)


If the tickets were cheaper, it would have sense. 50% house edge is too much

I don't care if this become successful for them or not but I think they do have expenses.

Hosting,
Marketing
Affiliates
Managing

these are some expensed and they need to keep space for these expenses as well. As I said my only issue is the trust or I do not see anything wrong with this kind of games.

All gambling sites has their own expenses, but it is not a good reason to increase the house edge become so high. They should know how to attract gamblers in the beginning, they should spend some money for the expenses from their own pocket first instead of trying to pay the expenses from the game at the very beginning. I don't even think that their expenses for this game in one round is that much (85% or 0.85btc). Logically most gambling start need to lose some money first on their beginning phase for those expenses then they will be able to recover it day by day from the profit they make. On other hand, this site is not willing to spend money for those expenses from their own wallet as they try to get income + get money to pay for the expenses from players at the very beginning.
High house edge is absolutely a big issue as most gamblers prefers to play in lower house edge game except those who dont care about house edge.

[veleten]

Yep, since the site is new, for a while, until you get a good name, I also suggest you to use an escrow.

I like the fact that the block hash is used for selecting the winner. And also I find interesting the idea with the commercials, although I don't know what can be shown on such a small size. (Edit: I've seen now 2 bought squares, cool!)
What I don't like is that from every 2BTC you collect, you give out 1BTC as prize. I would have understood 20%, maybe 25% too... but half of the money is a bit much imho. And this is at 0.002BTC from the site, not the 0.005BTC from the ANN...

they advertise it as 0.002 for the first week only , each subsequent week the price of a square increases by 0.001 btc
till it reaches 0.005 , so I expect them to net around 2.5 bitcoins if they sell all of the squares
anywhere between 2 and 5 ,actually , but the HE of this game is ridiculous : 50%+ house edge its a rip off even for a lottery
10% affiliate comission is enough for people to promote the game , but I doubt you will be able to sell more than 10-20 squares for such a big price
after all its 80$ per square we are talking about and there is no explanation of how do we get the money back if you don't manage to sell the squares etc.
my opinion , the games like this one require huge marketing and a better concept to become popular otherwise they are stillborn

[yurimir]

Very interesting I have seen this game years ago but it was an advertising space, people will be addicted on this one, it should be promoted and it's better to set up an affiliate features where referrer will share the winner's rewards.

I saw similar game related to advertising space on the web page 10 years ago too  

If the tickets were cheaper, it would have sense. 50% house edge is too much

I agree with this comment, but I liked the idea of the game  

[NeuroticFish]

they advertise it as 0.002 for the first week only , each subsequent week the price of a square increases by 0.001 btc

Yep, I also wrote at a later point than the post you quoted that I noticed that the price grows and I warned that this is not OK.
They can listen to advises or not. And from what I've seen from the reply I think that the chance is bigger that they will not listen.

[kingpin4321]

If noone gets any referrals or other commissions then they are collecting 5btc to payout 1btc lol. Pretty sure 19$ for a 1:1000 chance is a bit overkill as well.

Ridiculous, even state run lotteries "only" take half the money collected and use the other half as the reward.  I doubt OP will get many players on this game.

The whole this sounds so unrealistic and untrue.
I can for sure guess the intent of the OP and the reason for the contest but surely am not getting involved

[xvids]

0.005BTC for 1 square then you have to wait till all the 1,000 squares are sold,
I think it would really take some tome not to mention that the owner is making so much profit from this game 0.005×1000=5BTC
In 1 winner he already gain 4BTC for doing nothing .

[steampunkz]

0.005BTC for 1 square then you have to wait till all the 1,000 squares are sold,
I think it would really take some tome not to mention that the owner is making so much profit from this game 0.005×1000=5BTC
In 1 winner he already gain 4BTC for doing nothing .

This has been already explained by some members on the front page of the thread. I dunno if some people will fall on such untrusted scheme like this. But I visited the site and saw that there are still a few who plays the lotto. More like 10 of them have already bought some tickets.

[seoincorporation]

A game with a House Edge of 50%: If you buy all the tickets at 0.002BTC, you will be spending 2 BTC to win 1 BTC (50%).
I'm surprised if anyone really buy those tickets, you will be much better by playing in any crypto casino.

Compare:
Buy 1 ticket at 0.002BTC gives 0.1% chance of winning 1 BTC
But if you play "Dice" in any BTC casino, betting 0.002BTC at 0.1% chance is paying 1.987 BTC (house edge 1 %)


If the tickets were cheaper, it would have sense. 50% house edge is too much

I don't care if this become successful for them or not but I think they do have expenses.

Hosting,
Marketing
Affiliates
Managing

these are some expensed and they need to keep space for these expenses as well. As I said my only issue is the trust or I do not see anything wrong with this kind of games.

~snip~

Agree chances of winning are way better here as compared to national lottery. But again it becomes the part of trust as you are not sure how will the draw happen and if can be rigged as well and given to their known ones. Obviously no one would like to give to third party unless you know those who run them personally who are legitimate.

Trust is very big deal.

I have seen people to scam even $1 worth of Bitcoin in this forum.

The operational cost is less than 4BTC we can be sure of that. And about the amount he is sending to his pocket isn't fair. As i say before is a bad deal to fill someone's pocket trying to get some cash with the winning chance of 1/100.

[matchbillion]

Escrow will be good to give players more confidence of payment, but still the game is not interesting enough to attract users. We have seen many failed similar projects even with lower ticket price. Lottery or similar game like this is not really popular in this bitcoin gambling industry, the fact says that the most successful gambling game in this industry is dice game.  Easy to play, instant result (no need to wait other gamblers), etc. The main problem of this kind of game is "waiting". Many people do not like wait for unknown time to see the result, it makes people worry to play as the game may not even happening after a year unless there is someone willing to buy so many squares.

As I have suggested before, they should start with lower number of squares. Or give some some more games with different number of square. So users may choose which games to play, if they want to get faster result then they can choose game with the lower squares. Keeping on this 1000 squares, I'm pessimist that this site will survive for long time.  

There are some good insight in your first paragraph. People do not want to wait for a draw. They want instant result. However someone we are adopted with the national lottery but that's different story. People do not mind to spare £1 or £2 for lotto.

I do not think even lower number will have an increase number of interest to get people in the game.

Yes, we all have adopted the national lottery but they are frequent, few times in a week or at least on weekly basis. I don't mind sparing £1 or £2 for the fun.

I play lotto for fun not for greed. Winning a jackpot could be a life changing event so no harm in dreaming big.  Hey, you never know!

[AB de Royse777]

~snip~

The operational cost is less than 4BTC we can be sure of that. And about the amount he is sending to his pocket isn't fair. As i say before is a bad deal to fill someone's pocket trying to get some cash with the winning chance of 1/100.

It's not 5BTC they are collecting. They are collecting 2btc all together if I am not wrong. Anyway, seems like things gone slow for them. Few days ago I saw 19 spots sold and still I see the same number.

[titteringtacos]

I like the concept of having to win 1BTC for playing this. But I think I must choose to play in Dice game rather trying my luck in lottery.  Still I would love to see how this thing goes and maybe change my mind

[peonminer]

This is a pretty cool idea. What happens though if you don't sell out all of your squares for weeks on end? No lottery until all squares are sold?

[Bitinity]

This is a pretty cool idea. What happens though if you don't sell out all of your squares for weeks on end? No lottery until all squares are sold?

Cool idea? I think you did not read the whole site or at least thew whole discussion in this thread. It is only cool idea for the owner of the because they may earn huge amount of money once all 1000 squares are sold. It is not cool lottery idea for players because of the house edge as well as the long undefined waiting time as you need to wait till all squares are sold before the draw.

[Crypto Girl]

Yes, we all have adopted the national lottery but they are frequent, few times in a week or at least on weekly basis. I don't mind sparing £1 or £2 for the fun.

I play lotto for fun not for greed. Winning a jackpot could be a life changing event so no harm in dreaming big.  Hey, you never know!

I might assume that you bet on their lottery? Then I'll bid you good luck and wait maybe a year before they will draw and announce the winner. Sure, £2 isn't that much but their house edge is enough to back off. Heck, it will be gonna an easy 1btc for them!

[bitcoinisbest]

I like the concept of having to win 1BTC for playing this. But I think I must choose to play in Dice game rather trying my luck in lottery.  Still I would love to see how this thing goes and maybe change my mind

Eagerly waiting to see who will win the btc and how will also be looking at its transparency so that going forward people will be more interested once they establish the trust on this site and will gamble more in order to win the btc or other rewards.

[wiik]

What , you need to fill all the slot first before the draw ? When is that gonna happen  To those who place their bets/ purchase a ticket maybe give this at least 3-6months before they get something , and worst they may scam your money.

[Lexus19]

The cost of one square is 0.005 Bitcoins.

In the website it says "0.002" which is the real one. Quite a cool concept tho , Its like one of my childhood memory where you pay for a ticket similar to this. Except you get a chick as a prize. Anyway, how does the draw works ? Should all the 0-999 slots be filled first before you draw your winner ?

All right On the site the correct description

The first week the cost of the square is 0.002 BTC. The second week is 0.003 BTC. The third week is 0.004 BTC.

One Week ? I doubt that very much . It'll take a few months to sell all 1,000 cells . or even more time .

[veleten]

The cost of one square is 0.005 Bitcoins.

In the website it says "0.002" which is the real one. Quite a cool concept tho , Its like one of my childhood memory where you pay for a ticket similar to this. Except you get a chick as a prize. Anyway, how does the draw works ? Should all the 0-999 slots be filled first before you draw your winner ?

All right On the site the correct description

The first week the cost of the square is 0.002 BTC. The second week is 0.003 BTC. The third week is 0.004 BTC.

One Week ? I doubt that very much . It'll take a few months to sell all 1,000 cells . or even more time .

it will take forever to sell anything , simply because the price of a square is too much , the house edge is atrociously high and the number of squares is too much as well
if they tweaked the square price vs first prize or had several different ones with different price plans, so to say
they could have had some shot at success with proper marketing
thousand squares means they will have to get at least several hundreds different players willing to spend 8-20$
and that is is one player buys several squres and then wait ...wait ... wait ....
why do all that if he can just deposit 10$ and bet 1/1000 chance on a dice or a plinko provably fair game with instant result and 1% house edge?