That makes sense, thanks for taking the time to respond!

Will definitely be investing!

Hello there,

I have a question regarding not so much the investment part of TrueFlip (which I am very likely to invest in by the way), but the referral aspect.

It says on your site that we get a free ticket for each person we refer. If I refer 3 people for example, and get 3 free lottery tickets, am I given the option to log in and choose the numbers that I want for each lottery ticket, or are they automatically set?

Thanks and congrats on the success of your project so far!

To be honest, now that I think about it, I think they probably mean that it's illegal in the US, but if you use cryptos to invest then you are safe because they can't link the addresses back to you, but who knows. I saw a few other ICO's that also stated clearly "NO US CITIZENS MAY PARTAKE IN THE ICO DUE TO US LAWS", so I am tempted to assume they refer to all US Citizens regardless of investment method. I agree in that a little clarification would be appreciated.

To be honest, I think your intentions are good but this really isn't a unique idea and has not been properly put together and prepared for us to make an informed decision.

The premise of your ICO and company, in general, is basically the same as cloud mining company Genesis mining (buy hash rate, get profit). All you've really done here, in my opinion, is added a blockchain feature to this concept and expected everyone to go crazy for it. Imagine, for one second, that I was looking at my computer, wanting to earn income by mining through a third party, and I came across your company, MoneyTechnology, and well-known company Genesis Mining. What would compel me to choose your company over a well-known cloud miner like Genesis Mining? What UNIQUE features - nevermind the "it uses the blockchain", I'm talking about unique features to the mining/cloud mining industry - does YOUR company have that makes you better than competitors like Genesis?

I would suggest you abandon this current idea, and rethink an even better one, something that could disrupt the mining/cloud mining industries. As well, your announcement page should be much more professionally designed and written if you are to expect any investments.

Thanks.

Also I have a quick clarification:

The DIM currency coins you mention in your post, will they be more or less the same as the Tethered USD (usdt) that is traded on Poloniex? And if so, what is the difference between obtaining your DIM currency coins (which to me seems like a hassle the way you described it, but I am not familiar with NEM so take that with a grain of salt) vs. being able to use a variety of cryptos to buy Tethered coins like usdt on Poloniex directly, since they both "represent" a fiat currency?

Looking forward to your response as I am otherwise interested in investing during the presale.

Cheers.

But then why would they say that US residents can only participate through an exchange after the ICO? They seem to go to great lengths to make it known that any and all US Citizens/residents/etc. are not allowed to partake in this ICO directly...

I believe what they are saying is that you can not invest in the actual ICO and instead you must buy after the ICO is over, through an exchange like Poloniex or Bittrex.

Pretty sure they have to do this because of a law in the US regarding cryptos or something, but I could be mistaken. Either way, if you live in the US then you will have to wait till after the ICO to buy DIM.

Apparently, they sold a crapload in the presale.

Congrats to the devs. I will be investing later on, hope it'll be worth it!

Username: Foodcrazy

Thank you kindly.

That will hopefully soon be changed, as users have submitted algorithms for wetsuit to use to show the lottery is provably fair, and he will be picking one shortly.

I also agree with you, in that users do not end up withdrawing for various reasons, and so the faucet is much more profitable than it may initially seem.

Haha, let's agree to disagree

To my point though, wetsuit (site admin) has previously stated that he is still calculating the amount of extra BTC on the faucet that can be given while still remaining profitable, meaning that contrary to chineseprancing's remarks, I do not feel that freebitco.in will go bankrupt due to increased faucet claims. Freebitco.in makes a killing from the 5% house edge on their hi-lo game, so if they wanted to kill the faucet, they could've and would've done it long ago... There is a reason they keep it running

Haha, sir/miss, I believe you misunderstand the point of freebitco.in. The main purpose of freebitco.in IS to be a faucet. It was created with that purpose and continues to be developed with that purpose. Freebitco.in also includes a gambling feature (among other things), but I can assure you that wetsuit has calculated how much to give on the faucet in order to remain profitable while doing so. I highly doubt they will be going bankrupt anytime soon.

Ah, my bad, I thought you were talking about something else.

With my algorithm, site owners cannot know the outcome of the roll, so it is still technically fair. HOWEVER, common sense can prevent the site owners from creating new accounts. If all of the sudden new users (will know they are new by high id number) are obtaining a crap ton of tickets in a matter of seconds (shown in order in the acquisition chart I linked), it's pretty obvious that site owners are rigging it.

Other than that, imho it's impossible to know for sure whether not the site admins are crediting accounts with lottery tickets unless you are the site admin, lol.

***The following is my updated algorithm for determining the lottery winners***



Ok, so this uses your already provably fair method for determining rolls.
----------------------------------------------------

At the start of the round, have the server create a seed, and display that seed hashed to the public on the lottery page. At the end of the round, automatically post an excel spreadsheet to Dropbox (I believe they have an API) showing the acquired tickets for the round and who they belong to (like this: https://docs.google.com/spreadsheets/d/16FCMiXgVXI9unoFMm2qgCoK7gGA5BaZqth2BCoddT7k/edit?usp=sharing). Posting the file to Dropbox leaves an upload timestamp created by a server INDEPENDENT of freebitco.in, meaning the file cannot be tampered with or it would be evident in the timestamp.

Then, take the next bitcoin block to be generated after the file was posted, and use its hash as a server seed. The nonce is the lottery round number, increasing by 0.1 for each iteration (1st, 2nd, 3rd, etc...). Create a roll number using these three inputs.

Define q by multiplying 10 to the power of the digit count of the total number of tickets and adding the difference between number of digits in the highest possible roll number, and the actual amount of digits in the roll number in zeros - This accounts for low rolls (q = 10^digitCount + (extraZerosAmount = totalPossibleDigits - actualDigitAmount)). Define t by multiplying the roll number by q (t = roll# x q).  Define n by taking t and performing a modulo operation with the round's ticket count, and adding one (n = (t%tktcount) + 1). And there you have it, the winning ticket is the nth ticket acquired in the round.

Users can verify the winners after the round by doing the roll formula and checking it against the spreadsheet posted on Dropbox, with the INDEPENDENT upload timestamp by Dropbox servers ensuring that the spreadsheet was not tampered with after the block was generated and roll formula completed.


Let me know if you have any questions, or if I missed anything.

Jake

Edit: This may seem very complicated and jumbled and I apologise in advance, but in my honest opinion this covers every front possible in order to achieve the complete provably fairness of the lottery, and give all users confidence in doing so.  If this seems complicated and you don't understand, ask me for an example and I will post one.

Marlboroza is referring to the FREE BTC minimum bonus (faucet), and the requirements to increase that, not how to get lottery tickets.


Marlboroza, wetsuit has said that there will be an official announcement in the future which explains all that, he is still crunching the numbers on how much to give and to who right now.

Ok, also it doesn't seem right that with my 1000% FREE BTC bonus activated, I get more than I would for the second tier of 9886-9985. Once I do roll a number in the second tier, I am rewarded less for my luck, instead of more.

Is there anything you can do about this?

http://imgur.com/a/YAH2C

So the site mentioned that buying lottery tickets also helps to achieve a higher bonus, but how does the number of lottery tickets bought factor into the percentage, as the percentage also represents the wagered amount if I am not mistaken.

New progress report showing above the bonus, although not changing for me even after wagering.

http://imgur.com/a/QzItu

Do you think that they could convert that faucet into something like a DASH or ETH faucet (Obviously not the same domain name, but same site structure)? Or would BTC still outperform everything else and make it not worth the time needed to develop and support it?