Quote from: Johnster03 on January 22, 2014, 11:41:54 AM

Quote from: zaloultra on January 22, 2014, 08:17:34 AM

Quote from: Johnster03 on January 22, 2014, 06:17:29 AM

Quote from: zaloultra on January 21, 2014, 06:09:04 PM

Quote from: Johnster03 on January 21, 2014, 05:56:38 PM

Quote from: DigiByte on January 21, 2014, 05:42:11 PM

If anyone has a great idea on to what the best way to do the lottery is please let us know. We ourselves were thinking of a fair & transparent way to do this.

1. Payout at least 95%
2. Only accept tickets from users here in the board that created an account more than 2 weeks ago (otherwise the creator of the lottery could easily set up a new account himself that wins)
3. Let digibyte announce the winner
4. Reveal how the draw will be done to prove randomness

1. Why not make it 101% payout

2. Great - so about 3 people will buy tickets??
3. He is now.
4. Yeah, put it on CNN

Grin

Any of those dice games or bet races give me a higher chance to win, so no reason for me and many others to participate. The USDE lottery even paid out more than that. Wink

And I believe that all of my 4 points are valid points, but your replies have shown that you do not want to take them serious and even made fun about it, so my little trust in this is now completely gone.

Maybe, I will start my own lottery where all those 4 points will apply.

I can't see that you even have a single valid point, all I see is that you would like to steal my idea. Please stop trolling, your close to being a Gingermod2.

Those dice games are set up for ALL of you to lose against the "house". They are meant to be played again and again and again in a short period of time and you lose a little almost all the time. If you play that boring dicegame for an hour you will probably have lost 95% of your funds - giving a payout in real termes of 5%. Play the dicegame with 50,000 DGB for an hour and your left with 2,500 DGB, making a loss of 47,500. Any of those dicegames or bet races will make you broke.

Play the DigiByte Lottery on the other hand and you may win up to 300,000 DGB.

Dice games have an house edge of 2-4%, means an 48% that doubles your bet, so the expected outcome is 0.92-0.96DGB for each 1 DGB bet.You are offering a payout of 80%, so the expected outcome is 0.8DGB for each DGB that I bet.

It is simple as that. Neither dice games, nor your lottery makes anyone richer on average, but yours is even worse. truin was so nice to do the above calculation in detail.

By the way, I am not stealing your idea. You are stealing the idea from the USDE board. I wonder why DigiByte even trusts you - would not be surprised if you just keep all the DGB without drawing anything with those kind of respect-less posts in this thread.

As the last couple of pages filled this thread with this pointless and scammy-looking lottery, it damages even the reputation of this coin. And if you take a closer look into my signature, you can be assured that I only want the best for this currency.

The next time I see the Dev around in the IRC, I will encourage him to stop promoting this lottery the way it is. I really see my support for this coin at risk if DigiByte keeps supporting this.

As far as I know, DigiByte/Tate/The Devs do not support the Lottery. There was a request for them to roll the random number and they agreed figuring some oversight is better than no oversight. That was, of coarse, before this whole tirade Sad