Being stuck at home because of the lockdown, I've been having some different ideas, and I want to put one into practice.
I want to start an On site "lottery". I put it in brackets because the closest thing to a translation would be a "pool", but it's far more inaccurate than that. Anyway, how does it work?
Block hashes are generated randomly, so there's no way a user can know the next block hash. Taking that principle, similar to what raffles do, a user will be able to buy, or bet, on the end of a block hash. There are 16 possible outcomes, so there is a 6.25% chance of guessing it right.
- Price per spot --- 0.001BTC
- Deposit address --- 3N1jDu6uLSnt3PUGQi4ErFrSdNcT8L69Fk
- Once all spots are taken, a random block will be chosen
- Winner will get the following price: (0.001*16)-1%-Tx fees
To benefit from lower fees, please provide a Segwit address
1-
2-Danydee
3-
4-
5-
6-
7-
8-
9-
a-
b-
c-
d-
e-
f-
0-
Once the block is chosen and mined, I'll contact the winner both in private and in the thread to ask for a return address. If you want to speed things up, you can provide the return address when buying a spot.
One user can bet on more than 1 outcome.