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.phpOnly 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#msg8687430I 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.