Bit-lottery | PVP lottery

[Reynaldo]

Website

https://www.bit-lottery.com/

Stats

https://www.bit-lottery.com/stats.php

People behind Bit-lottery

bit-lottery user profile: https://bitcointalk.org/index.php?action=profile;u=371720
Reynaldo user profile: https://bitcointalk.org/index.php?action=profile;u=211976

What is Bit-lottery

In real life when you play lottery, you buy 1 ticket and hope to get the right numbers so you can win the prize, if no one wins, the lottery company keeps the money and the chances of winning are 1/175,000,000;
Bit-lottery implements this concept but goes beyond it.

Imagine that you and 3 friends want to play the bit-lottery, each of you will choose 1 of the 4 rounds and then buy tickets.
Each ticket will give you a random number between 0 and 99,999 and then you'll have to wait for next bitcoin block to be found.
When the block is found, our system will take the last 5 numbers of the block's hash, for example the block https://blockchain.info/block-index/000000000000000010c0643f8f4c7e34d81e976885ad197ec6b6d76827e2cd30 will have the number 27230 and the one that has the closest number to 272300 will win the price.

The Math

The winner is taken using the absolute difference between the ticker number and the last 5 number of the next block's hash. For 27230, if Johnny has ticket number 27220 but Vermont has the 27231; |27230-27231| =1 which is lower than |27230-27220| = 10 and 1<10 therefor 27230 is closest to 27231.
The house only takes 1% of the bets, so if Johnny and Vermont went to the 1 btc per ticket round, and each one of them got only 1 ticket, then the winning prize would be: 2 - 2*0.01 = 1.98 BTC

Rounds

Each round needs 2 player at least to start waiting on the next block.
After a round has started people can buy tickets for that round till next block is found and then the round stops and picks a winner.
To start playing you'll input your bitcoin address (this address will be used to withdraw!), and then register an user with a password, please choose a safe password, and then you'll receive a deposit address, where you can deposit your btc after depositing the system will wait 1 confirmation and then your btc will appear to the left at your balance.


Round 1

Price per ticket: 0.001BTC
For N amounts of tickets the prize will be equal to: (N * 0.001) - (N * 0.001 * 0.01)

Round 2

Price per ticket: 0.01BTC
For N amounts of tickets the prize will be equal to: (N * 0.01) - (N * 0.01 * 0.01)

Round 3

Price per ticket: 0.1BTC
For N amounts of tickets the prize will be equal to: (N * 0.1) - (N * 0.1 * 0.01)

Round 4

Price per ticket: 1BTC
For N amounts of tickets the prize will be equal to: (N * 1) - (N * 1 * 0.01)



Notes:

*Minimum Withdraw amount : 0.001BTC
*Transaction Fee : 0.0001BTC (Network transaction fee)

In the upcoming weeks we will be updating look and feel of the site.
Feel free to post any questions.

Old post: https://bitcointalk.org/index.php?topic=760481.msg8737612#msg8737612

[1715696373]

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[1715696373]

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[1715696373]

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[coinnewbit]

What is the tl;dr version of why I should trust you?

[Shogen]

Apart from the trust issue coinnewbit mentioned, there is another problem I can think of.

Each round needs 2 player at least to start waiting on the next block.
After a round has started people can buy tickets for that round till next block is found and then the round stops and picks a winner.

It may be hard to have at least 2 players in each round as a block is found in just 10 minutes on average, unless you have a large number of active frequent players.

[Reynaldo]

What is the tl;dr version of why I should trust you?

My advice, you should not unless you are willing to give me and bit-lottery a try...

Apart from the trust issue coinnewbit mentioned, there is another problem I can think of.

Each round needs 2 player at least to start waiting on the next block.
After a round has started people can buy tickets for that round till next block is found and then the round stops and picks a winner.

It may be hard to have at least 2 players in each round as a block is found in just 10 minutes on average, unless you have a large number of active frequent players.

Actually you might hope in when the block time left to be found is around 3-4 min.. if time becomes a need then we could change the Bitcoin blocks to litecoin blocks and we'll have faster block time generation that would mean less time between rounds.

[bit-lottery]

Apart from the trust issue coinnewbit mentioned, there is another problem I can think of.

Each round needs 2 player at least to start waiting on the next block.
After a round has started people can buy tickets for that round till next block is found and then the round stops and picks a winner.

It may be hard to have at least 2 players in each round as a block is found in just 10 minutes on average, unless you have a large number of active frequent players.

I might be able to answer that :

As for the trust issue : The system gives a random ticket number whenever a user purchase a ticket.
You can see the ticket number here in real time : https://www.bit-lottery.com/stats.php
Only when 2 players are in, the system picks the closest number to the next last 5 block hash numbers. So basically, there is now way to say who is going to win before the next block gets found. Not only that, but anyone can easily take a screenshot of the tickets numbers, and compare it to the hash. In other words, there is not really a way to cheat the system without everyone seeing it...

For the round time issue : yes, that is our goal : Get regular players. But : the round does not start unless two players are in. Meaning, Once a player gets a ticket for a round, he simply waits for any other player to get in and starts the round. So the round time is not really an issue there. Think of it as a 1v1 pvp game. One player starts the game, and waits for a challenger to come in. The only difference is : May be more players would come in. But, as a 1v1 too, there is always a winner.

For the small story :
That was my first post : https://bitcointalk.org/index.php?topic=760498.msg8687430#msg8687430
I needed help to find a system that would be 100 % transparent and provably fair. But the big issue people had with this first idea, was the TX fees. Paying 10 % in tx fees to get a ticket would discourage most people, that's why we decided to go with user accounts / wallets. Since i also sucked at PR and marketing, Reynaldo accepted to partner with me and take that side in charge.

Hope i answered your questions.

[Reynaldo]

Still no design but system is working.. planning on adding a chat feature. Feel free to try it.

[bitcoinproplayer]

Website

https://www.bit-lottery.com/

Stats

https://www.bit-lottery.com/stats.php

People behind Bit-lottery

bit-lottery user profile: https://bitcointalk.org/index.php?action=profile;u=371720
Reynaldo user profile: https://bitcointalk.org/index.php?action=profile;u=211976

What is Bit-lottery

In real life when you play lottery, you buy 1 ticket and hope to get the right numbers so you can win the prize, if no one wins, the lottery company keeps the money and the chances of winning are 1/175,000,000;
Bit-lottery implements this concept but goes beyond it.

Imagine that you and 3 friends want to play the bit-lottery, each of you will choose 1 of the 4 rounds and then buy tickets.
Each ticket will give you a random number between 0 and 99,999 and then you'll have to wait for next bitcoin block to be found.
When the block is found, our system will take the last 5 numbers of the block's hash, for example the block https://blockchain.info/block-index/000000000000000010c0643f8f4c7e34d81e976885ad197ec6b6d76827e2cd30 will have the number 27230 and the one that has the closest number to 272300 will win the price.

The Math

The winner is taken using the absolute difference between the ticker number and the last 5 number of the next block's hash. For 27230, if Johnny has ticket number 27220 but Vermont has the 27231; |27230-27231| =1 which is lower than |27230-27220| = 10 and 1<10 therefor 27230 is closest to 27231.
The house only takes 1% of the bets, so if Johnny and Vermont went to the 1 btc per ticket round, and each one of them got only 1 ticket, then the winning prize would be: 2 - 2*0.01 = 1.98 BTC

Rounds

Each round needs 2 player at least to start waiting on the next block.
After a round has started people can buy tickets for that round till next block is found and then the round stops and picks a winner.
To start playing you'll input your bitcoin address (this address will be used to withdraw!), and then register an user with a password, please choose a safe password, and then you'll receive a deposit address, where you can deposit your btc after depositing the system will wait 1 confirmation and then your btc will appear to the left at your balance.


Round 1

Price per ticket: 0.001BTC
For N amounts of tickets the prize will be equal to: (N * 0.001) - (N * 0.001 * 0.01)

Round 2

Price per ticket: 0.01BTC
For N amounts of tickets the prize will be equal to: (N * 0.01) - (N * 0.01 * 0.01)

Round 3

Price per ticket: 0.1BTC
For N amounts of tickets the prize will be equal to: (N * 0.1) - (N * 0.1 * 0.01)

Round 4

Price per ticket: 1BTC
For N amounts of tickets the prize will be equal to: (N * 1) - (N * 1 * 0.01)



Notes:

*Minimum Withdraw amount : 0.001BTC
*Transaction Fee : 0.0001BTC (Network transaction fee)

In the upcoming weeks we will be updating look and feel of the site.
Feel free to post any questions.

Old post: https://bitcointalk.org/index.php?topic=760481.msg8737612#msg8737612

Any plans on making the interface much easier to interact with?

Also, is your RNG certified? Is the RNG made in-the-house? It would be good to know.

[Reynaldo]

Website

https://www.bit-lottery.com/

Stats

https://www.bit-lottery.com/stats.php

People behind Bit-lottery

bit-lottery user profile: https://bitcointalk.org/index.php?action=profile;u=371720
Reynaldo user profile: https://bitcointalk.org/index.php?action=profile;u=211976

What is Bit-lottery

In real life when you play lottery, you buy 1 ticket and hope to get the right numbers so you can win the prize, if no one wins, the lottery company keeps the money and the chances of winning are 1/175,000,000;
Bit-lottery implements this concept but goes beyond it.

Imagine that you and 3 friends want to play the bit-lottery, each of you will choose 1 of the 4 rounds and then buy tickets.
Each ticket will give you a random number between 0 and 99,999 and then you'll have to wait for next bitcoin block to be found.
When the block is found, our system will take the last 5 numbers of the block's hash, for example the block https://blockchain.info/block-index/000000000000000010c0643f8f4c7e34d81e976885ad197ec6b6d76827e2cd30 will have the number 27230 and the one that has the closest number to 272300 will win the price.

The Math

The winner is taken using the absolute difference between the ticker number and the last 5 number of the next block's hash. For 27230, if Johnny has ticket number 27220 but Vermont has the 27231; |27230-27231| =1 which is lower than |27230-27220| = 10 and 1<10 therefor 27230 is closest to 27231.
The house only takes 1% of the bets, so if Johnny and Vermont went to the 1 btc per ticket round, and each one of them got only 1 ticket, then the winning prize would be: 2 - 2*0.01 = 1.98 BTC

Rounds

Each round needs 2 player at least to start waiting on the next block.
After a round has started people can buy tickets for that round till next block is found and then the round stops and picks a winner.
To start playing you'll input your bitcoin address (this address will be used to withdraw!), and then register an user with a password, please choose a safe password, and then you'll receive a deposit address, where you can deposit your btc after depositing the system will wait 1 confirmation and then your btc will appear to the left at your balance.


Round 1

Price per ticket: 0.001BTC
For N amounts of tickets the prize will be equal to: (N * 0.001) - (N * 0.001 * 0.01)

Round 2

Price per ticket: 0.01BTC
For N amounts of tickets the prize will be equal to: (N * 0.01) - (N * 0.01 * 0.01)

Round 3

Price per ticket: 0.1BTC
For N amounts of tickets the prize will be equal to: (N * 0.1) - (N * 0.1 * 0.01)

Round 4

Price per ticket: 1BTC
For N amounts of tickets the prize will be equal to: (N * 1) - (N * 1 * 0.01)



Notes:

*Minimum Withdraw amount : 0.001BTC
*Transaction Fee : 0.0001BTC (Network transaction fee)

In the upcoming weeks we will be updating look and feel of the site.
Feel free to post any questions.

Old post: https://bitcointalk.org/index.php?topic=760481.msg8737612#msg8737612

Any plans on making the interface much easier to interact with?

Also, is your RNG certified? Is the RNG made in-the-house? It would be good to know.

Yes, when we add the design it should be easier for people to interact and actually "get the right feel"
For the random number generator its just a random function from standard cryptographic libraries, the thing is that we DO NOT generate the outcome so therefor you can always verify with the stats which was the last 5 digits of the block's hash, since the house never plays if you gather your friends and play, only 1 of you would win..
Northblade is one of the testers and he's always there if someone just want to join.. some guy went in and won agaisnt him twice but didnt withdraw, dont know why..