Welcome next Bitcoin lottery on board
This time Blockchain based - thats nice! Let see where it will go Low price of tickets is very good idea - it will bring more people for testing.
But i don't understend what mean/how "ticket price will be grow together with the lottery fund."? Can you say a bit more about that? How raising prices can "avoid cheaters"?
It is too low imo, would be better if the ticket's price is 1000 satoshi or more. As I see on the lotto history, the prize-pool of each lotto is only around 50k satoshi which should be won by 6 matched numbers.
Otherwise, players will only earn less than 5k satoshi with 3 matched numbers. No offense, but it is kind of wasting time gambling.
Not necessarily, after all, anyone can buy as many tickets as he wants. At the beginning it seems to me a good idea. Later, they can enter a higher price or a completely separate lottery for high rollers
Lets look at an example:
Right now total fund around 70 000 Satoshi and the ticket price is 100 Satoshi
100 Satoshi * 0.00000001 (satoshi->BTC) * 400 $ (current USD price) = 0.0004 $ for the ticket
0.0004 $ is ultra cheap price, but the total lottery fund also very low.... not so interesting, right?
But if total fund will be for example 10 BTC and the ticket price is still 100 Satoshi...
Someone smart man can spend 10% of total fund (1 BTC) for purchase tickets, and get 1 000 000 tickets.
Not so hard calculations says me, that having 1 000 000 tickets, that man can win absolutely everything, and other player - noting - it would not be very honest.
So, how to prevent this?
I see the two ways:
bind the ticket price and the lottery fund;
add limit on the number of purchased tickets;
Selected first.
Because this is must be are lottery - someone is winning and someone not - depends of the players luck and strategy.