Satoshis Raffle

[FindWalletBrain]

Come on, I need your opinion.

As everyone knows, raffles are currently run in a completely unintuitive and non-transparent way. So I thought, "Why not create a raffle that's as transparent as possible, all powered by Bitcoin?"

I'm already developing the MVP, where you can buy tickets with satoshis, via the Lightning Network or On-chain. An example of a raffle would be: Ticket: 100 sats, prize: 10,000 sats.

The difference is that I don't know who you are; you'll be able to see everyone who bought tickets, and the ticket result is based entirely on the hash of the block in which the draw is scheduled to take place.

I sincerely need your opinion. Would you play? Is the idea good?

[Mbitr]

Come on, I need your opinion.

As everyone knows, raffles are currently run in a completely unintuitive and non-transparent way. So I thought, "Why not create a raffle that's as transparent as possible, all powered by Bitcoin?"

I'm already developing the MVP, where you can buy tickets with satoshis, via the Lightning Network or On-chain. An example of a raffle would be: Ticket: 100 sats, prize: 10,000 sats.

The difference is that I don't know who you are; you'll be able to see everyone who bought tickets, and the ticket result is based entirely on the hash of the block in which the draw is scheduled to take place.

I sincerely need your opinion. Would you play? Is the idea good?

Go and take a look at the collectibles section of the forum …

https://bitcointalk.org/index.php?board=217.0

From what I infer from your post, there are plenty of raffles that go on using the idea you mention.

[FindWalletBrain]

I understand, but from what I saw there, they are raffles for physical products, and not to mention that it is not something automatic, do you know of any raffle system with bitcoin, that there is a website or something like that to buy?

My prizes will be in satoshis and automatically sent to the winner's wallet.

[Vod]

I understand, but from what I saw there, they are raffles for physical products, and not to mention that it is not something automatic, do you know of any raffle system with bitcoin, that there is a website or something like that to buy?

My prizes will be in satoshis and automatically sent to the winner's wallet.

And what country are you running your website out of?  Most of them have laws about taking money for a chance to win a prize.  :/

[FindWalletBrain]

I understand, but from what I saw there, they are raffles for physical products, and not to mention that it is not something automatic, do you know of any raffle system with bitcoin, that there is a website or something like that to buy?

My prizes will be in satoshis and automatically sent to the winner's wallet.

And what country are you running your website out of?  Most of them have laws about taking money for a chance to win a prize.  :/

Brazil

[Henark]

An omni-chain lottery where a smart contract receives the command to release the accumulated amount only to a valid coupon number associated with a specific private key (or wallet signature)?

[Vod]

And what country are you running your website out of?  Most of them have laws about taking money for a chance to win a prize.  :/

Brazil

Your idea is illegal in Brazil, probably due to widespread abuse (it's on the lower rungs of the scam ladder, so easy to do).  You will need to run it on the dark web, as your server would be seized as soon as someone complained.

1. Lotteries & Games of Chance Are Strictly Controlled
Brazil’s Criminal Misdemeanor Law (Decree-Law No. 3,688/1941) prohibits unauthorized lotteries and games of chance. Operating or promoting them is a punishable offense (Article 51)
Lotteries and drawings are allowed only under Caixa Econômica Federal, the state bank—state lotteries fall under that monopoly

2. Prize Promotions Require Authorization
If you want to run a chance-based prize draw (like a raffle or sweepstakes), you must secure authorization from Brazil’s Secretariat of Finance’s Prize Promotion Authority (SRE or now SRE under Ministry of Finance)
contestpr.com
Only Brazilian legal entities can apply. Foreign individuals or companies must either establish a local entity or partner with one in Brazil, which then must take legal responsibility
contestpr.com
You must register and pay applicable fees. Expect to submit your request 40–120 days before running the promotion, and you’ll typically receive a decision within about 30 days of application
contestpr.com

[examplens]

Come on, I need your opinion.

As everyone knows, raffles are currently run in a completely unintuitive and non-transparent way. So I thought, "Why not create a raffle that's as transparent as possible, all powered by Bitcoin?"

I'm already developing the MVP, where you can buy tickets with satoshis, via the Lightning Network or On-chain. An example of a raffle would be: Ticket: 100 sats, prize: 10,000 sats.

The difference is that I don't know who you are; you'll be able to see everyone who bought tickets, and the ticket result is based entirely on the hash of the block in which the draw is scheduled to take place.

I sincerely need your opinion. Would you play? Is the idea good?

Something similar already exists and was made by your fellow countryman, @bitmover from Brazil. Primarily intended for Bitcointalk members and raffles on this forum. Check here: https://bitcoindata.science/giveaway-manager/
Many people use this tool, although for free raffles, it has proven to be fair so far. For example: https://bitcointalk.org/index.php?topic=5556245.0

I would definitely check what Vod mentions and the issue of legality in your country

[dkbit98]

As everyone knows, raffles are currently run in a completely unintuitive and non-transparent way. So I thought, "Why not create a raffle that's as transparent as possible, all powered by Bitcoin?"

We already have something like that created by our own forum member and it's called Bitcointalk Giveaway Manager.
I guess you could create something better and more transparent if you know how to do it,
but I would not use this Satoshis Raffles if they are made on lightning network, and fees on bitcoin main chain are very low these days.

[aoluain]

The difference is that I don't know who you are; you'll be able to see everyone who bought tickets, and the ticket result is based entirely on the hash of the block in which the draw is scheduled to take place.

Yea we already do this regularly in the Collectibles board. We dont use the
tool created by bitmover.

Create a thread for the raffle

The second post is usually reserved for the list of entries and each can be marked
paid etc. This also serves as a kind of time stamp where any alteration after the raffle
has taken place is visible.

Run the block chain, last two digits of a chosen block calls the winner. It has to be two
digits at least as anyone just choosing numbers 1 to 9 have an unfair advantage.
I.E 11, 21, 31, 41 etc. So chosen numbers can be from 01 onwards.


Its a good idea by the OP, the difference in the Collectibles board is that
almost everyone has trust rating!

[Mia Chloe]

Come on, I need your opinion.
As everyone knows, raffles are currently run in a completely unintuitive and non-transparent way. So I thought, "Why not create a raffle that's as transparent as possible, all powered by Bitcoin?"

There's already a tool for that on the forum created by a veteran member and the good news is it's very transparent and can't actually be cheated since it uses the randomization of the chosen blocks hash. So it literally depends totally on the bitcoin network and block generation. If you have something more interesting you can go for it.

I would not use this Satoshis Raffles if they are made on lightning network, and fees on bitcoin main chain are very low these days.

Coins on a lightning channel are not as safe as on chain coins so on chain is still currently very fine. Fees are ok and the confirmation speed is also decent.