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Author Topic: The bitcoin lottery  (Read 1891 times)
mr.ebola
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September 17, 2014, 05:39:21 PM
 #1

Hi Everyone!
I'm more than glad to show you this small project I'm working on.
It’s the http://satoshiraffle.com/ A website for the Bitcoin Lottery, Once the countdown goes to 0. The Satoshi's phantom will randomly choose the 1st, 2th and 3th place, sending the 60%, 20% and 18% of the collected funds respectively.

I’m looking for your feedback and also if someone have a way we can promote the website.

Regards,
Mr.Ebola  Wink


EDIT:
Prizes were changed from 60% 20% 15% to 60% 20% 18%
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Frscott
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September 17, 2014, 06:54:29 PM
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5% fee is a bit greedy don't you think  ???I
mr.ebola
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September 17, 2014, 07:46:47 PM
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HI FrScott,
I believe is ok for the work behind all of this. But If you have a suggestion on the fee I could try to do something Cheesy
Thanks for your answer man.
mr.ebola
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September 21, 2014, 05:30:30 AM
 #4

Let me tell you guys, how is it going with the raffle. Cheesy

Only 8 days left for the bitcoin lottery, www.satoshiraffle.com 
It has a raffle pot: of 0.2299 BTC / $92.57 USD , and has sold 22 Tickets until now.

I'm happy to see people is reacting good with the system Cheesy
All comments are well recieved.
turncoat_ewok
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September 21, 2014, 05:43:13 AM
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I am not clear about the amount of price. Can you elaborate it?
mellzinha
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September 21, 2014, 06:30:09 AM
 #6

Hi,

Why have you opened this thread here on "off-topic"? It should be at the "market Place", for example. (more people would see it and reply)

Success!
twister
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September 21, 2014, 06:46:32 AM
 #7

What does the ticket costs? How can we be sure that the  winning numbers chosen will not be rigged? How can it be verified?

I can promote your site on facebook if you'd like. Send me a pm.

 

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mr.ebola
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September 21, 2014, 06:25:49 PM
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What does the ticket costs? How can we be sure that the  winning numbers chosen will not be rigged? How can it be verified?

I can promote your site on facebook if you'd like. Send me a pm.

- What does the ticket costs? 0.01 BTC $4.06 USD aprox.
- About rig the numbers, I'm not sure how to demonstrate that , but I would be more than glad for suggestions.

I'm sending you a pm , thanks for the help !

Toratok
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September 21, 2014, 11:44:31 PM
 #9

Bitcoin Galore running on bitmessage has much lower "ticket" cost, much higher prizes and there is the possibility to build up a strategy. What is so special in this raffle?
mr.ebola
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September 22, 2014, 01:59:48 AM
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Bitcoin Galore running on bitmessage has much lower "ticket" cost, much higher prizes and there is the possibility to build up a strategy. What is so special in this raffle?

Hi Toratok
In SatoshiRaffle you have 3 winning places, could you send me the url for "Bitcoin Galore" so I can review it? , thanks !
 

Cheers!
Toratok
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September 22, 2014, 02:05:21 AM
 #11

Hello,

Bitcoin Galore running on bitmessage has much lower "ticket" cost, much higher prizes and there is the possibility to build up a strategy. What is so special in this raffle?

Hi Toratok
In SatoshiRaffle you have 3 winning places, could you send me the url for "Bitcoin Galore" so I can review it? , thanks !

It doesn't have an URL, it works on bitmessage, so you have to download bitmessage and send a message to: BM-2cXdbRBsBWXmdTqsN2s3jd28cpEunJX6Ek with the word HELP in the subject to get all the information. I am playing since about 10 days and it looks interesting. I already won some prizes and I like the concept that it's (as their help say) totally anonymous and decentralized.
mr.ebola
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September 27, 2014, 05:09:44 PM
 #12

The system will post the three winners with a signature generated by random.org so you guys can see and be sure random.org did the job. http://satoshiraffle.com/hall-of-fame/ All your suggestions and comments are welcome because that makes me make satoshiraffle.com something reliable.
Thanks Mr.Ebola 
bitcoinlitcoinbtcltc
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September 28, 2014, 12:50:20 PM
 #13

Hello,

Bitcoin Galore running on bitmessage has much lower "ticket" cost, much higher prizes and there is the possibility to build up a strategy. What is so special in this raffle?

Hi Toratok
In SatoshiRaffle you have 3 winning places, could you send me the url for "Bitcoin Galore" so I can review it? , thanks !

It doesn't have an URL, it works on bitmessage, so you have to download bitmessage and send a message to: BM-2cXdbRBsBWXmdTqsN2s3jd28cpEunJX6Ek with the word HELP in the subject to get all the information. I am playing since about 10 days and it looks interesting. I already won some prizes and I like the concept that it's (as their help say) totally anonymous and decentralized.

You like your own lottery? Nice.
LiteCoinUser84
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September 28, 2014, 01:14:30 PM
 #14

5% house edge is madness... Is this site at all provably fair or will Satoshi choose his own accounts Wink?
mr.ebola
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September 30, 2014, 08:48:59 AM
 #15

Hi everyone!

The Bitcoin Lottery ran successfully.
Delivered awards of:
1st place: 0.1999 BTC / $ 75.26 USD
2nd place: 0.0697 BTC / $ 26.24 USD
3th place: 0.0498 BTC / $ 18.75 USD

Today September 30th 2014 the bitcoin lottery is waiting for new bets.
The game will run every 15 days and has 3 prizes:

1st, 2th and 3th place, sending the 60%, 20% and 15% of the collected funds respectively.

The game is provably fair by using an external API from random.org and publishing the digital signature provided by the same website, random.org select the prizes by generating randomnes from athmosphere noise, you can see the last winners and how they were selected here: http://pew.bz/qS

To play, go to: http://satoshiraffle.com The Bitcoin Lottery!
Best of lucks!
espringe
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September 30, 2014, 01:07:28 PM
 #16

Hi Ebola,

I love your domain name, and you have a really slick website. I got my ticket (5377cef..), wish me luck!

The game is provably fair by using an external API from random.org and publishing the digital signature provided by the same website

While I have no doubt you aren't cheating, it would've been extremely easy for you to do so. Random.org says the results you generated were the 321st in the series. How do we know that you didn't keep calling random.org, throwing away the bad results until you found one favorable to yourself? You absolutely must published your method *ahead of time*, including  what the sequence number we should expect, then at we don't need to worrying about you hand picking results (and instead only worry if random.org is cheating).

Is there any particular reason you generated the numbers with replacement, I would think this is unideal for a lottery with 3 prizes -- especially as you haven't clarified what happens if someone wins two prizes.

But to truly allow us to verify the results, you're going to have to releasing a script that can give generate the lottery tick numbers and their respective address.

Also being forced to pay from only a single sending address seems unfair and exposes too much technical detail on the user -- something along the lines of "return to first sending address" is much fairer (or use check what other on chain gambling sites do). And only allowing people to buy a single ticket seems counter productive Cheesy
selene72
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September 30, 2014, 01:15:38 PM
 #17

5% house edge is madness... Is this site at all provably fair or will Satoshi choose his own accounts Wink?

5%  is  Shocked tbh Cheesy

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Reynaldo
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September 30, 2014, 01:32:38 PM
 #18

yep, 5% is too high; 1 ticket per person is not accurate since it does not relate to real life lotteries, after that i think its fine for now with all the suggestions people gave about this post

Reynaldo.....
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lucas85
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September 30, 2014, 02:49:29 PM
 #19

5 percent is greedy madness.... today with a high competition gambling site shouldnt be that greed...1 to 2 percent is preferable. And i will try my luck..

Martingle is my proven system
espringe
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September 30, 2014, 05:21:18 PM
 #20

HI FrScott,
I believe is ok for the work behind all of this. But If you have a suggestion on the fee I could try to do something Cheesy
Thanks for your answer man.

If it were mine, I'd be going for 0.1%

Right now you have a serious competition problem, reputable sites like https://dice.ninja offer a max win of 8 BTC with an expected loss of 1% of wagered amount. You need to kick their asses to have people use your site. Play to your strengths, which is that the house risks nothing. Sites where people play against the house can only risk a small fraction of their bankroll each bet -- you have no such limitation. I'd make your goal of getting the #1 prize to be in the order of 50+ BTC -- something that people can't easily hope to win elsewhere.

Your other advantage is the house risks nothing, you can push your edge realllly low. I mean, on my site -- yesterday I just lost 20 BTC in the period of 2 hours. You have none of these risks. There's no way in the world I or operators can compete against you if you drop your margins real low -- use that to your advantage.

So if it was me, I'd be operating for a few months with a house margin of 0.1%. Once you've solved the provably fairness, have earnt a lot of trust and following you can easily increase this slightly. 0.1% of a big number puts you in a much better place than 5% of a small number =D
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