Post
Topic
Board Marketplace
Re: Testing the waters
by
melvster
on 22/07/2010, 13:53:50 UTC
I would do the drawing as follows:
  • Go to random.org and generate the random number(s) between 0 and n based on a "persistent identifier". A good identifier to use would be a newly generated bitcoin address that has not been used yet.
  • Post the SHA-256 hash of the identifier on the forum to commit to the number(s)
  • Publish the guesses. This way, people can see if all guesses have been exhausted. This prevents me from claiming no-one won.
  • Announce the winner and publish the identifier used to generate the number(s), so everyone can verify the winning number(s).

This is a very good solution.  I was looking around on random.org, but I hadn't thought it all the way through.  Would you be interested in buying into a lottery like this?  It's interesting, because it doesn't reward buying a bunch of guesses at once (each one gives diminishing returns, because you're putting more money into the pot) and the longer it goes on (maybe capped to a week, and whoever's closest after a week wins) the more profitable it would be, because there'd be less choices, thus more chances for winning.  It's almost like a Bingo lottery. =P

Looks very cool!

Maybe we can test out the coin flip?