Re: Decentralized Lotteries & HODL Deposits - SwiftCash [POS] [SWIFT]
interesting stuff. I wonder how the decentralized lottery works tho?
The same way everything else works! If you mean how the winners are picked, they are picked based on a future block hash which is randomly generated by Miners who are competing with each other so it's as random as it gets! Sorry for the late reply. I don't check this thread very often.
Maybe time to revive the interest here as when I checked the price in crex, still going down. Opposite of what is happening in btc and other top alts. Is your lottery business doing good in terms of revenue? Just want to see if decentralized lottery can still attract players. Because I have seen lottery sites in the gambling board, and it seems they can't keep players in the long run.
The lottery revenue is a bonus revenue for miners and the lotteries are not the main advantage of SwiftCash. The main advantage of SwiftCash is HODL deposits. 12-Month deposits will always yield more than the blockchain's inflation. That makes $SWIFT a true store of value for long-term investors. Price can easily go up and down when there's little liquidity. The same was true about Bitcoin in its early years. That's why the wisest thing to do is to dollar cost average. The low price is a buying opportunity if you ask me. It doesn't take much to pump this coin. Its market cap is only $100,000-$200,000 here. That's the annual salary of a senior developer these days. Bitcoin has been around for 12+ years and is on all exchanges, known by even main street and promoted by even mainstream media and Big Tech. You can't compare that with SwiftCash in any way. The number of people on earth who have heard about SwiftCash is most likely below 100,000.
Or maybe below 100k people.
Anyway, is it attractive to hodl deposits here for about a year? If an investor will see the current value in the market, I don't think that's very encouraging. I'm just being practical here. If you are an investor and see the numbers here, I don't think you will be interested to shell out your money for long-term. One year in crypto is already a long one. So many things will happen in this market. Hopefully, you can attract users to trust their funds for that time period.An investor doesn't have to HODL for 12 months. Can do a 1 month deposit. Or stake without any lock. The return will be lower obviously as it should be. To each their own.