The idea is way more sophisticated than straight forward gambling of money, I guess you guys didn't read the entire thread ..

However if I do make the time and find the right partners to execute this, will definitely share with you guys.

Thanks for all your comments, definitely helpful.

Please don't give any money, but do me a favour and read the comments before posting..

Thanks @harizen, much appreciated. Yes even I feel 0.01 BTC quite a bit of amount.

Why do you guys keep assuming I would personally do it.. and that's the only option - if one is a newbie in this forum there's no chance to do well in the crypto industry. You mean to say each and every ICO founder or a [Suspicious link removed]pany founder is in this forum building their reputation...

I don't buy into that.. being newbie on this forum has nothing to do with launching a Lotto via a website through strong partnerships with industry leaders. Having good reputation in this forum could be helpful, but not a deal breaker by any stretch.

I make note of your point about finding 15,000 players - I agree this could be ambitious to achieve, but the whole rant about being Newbie.. trust is being easily solved through partnerships. Case in point > 99% of the ICOs who are raising significant sums without an active product and in most cases a MVP or anything.. just based on Roadmaps, Whitepaper and a Team.

Much appreciated.. see it doesn't hurt to share some constructive thoughts.

Well, at this point.. it is just an idea - nothing done yet.. no website or anything yet.. just wanted to see what others thought of it. As a casual observer of how people are investing and trading currencies, this would be another avenue for people to try their luck. How bad can it be - eventually one guy does get 100 Bitcoins.

Most of you guys own gambling businesses yourself, why don't you give this idea some thoughts.. you've the reputation and technology it seems, and I can assure the amount of media coverage you'll get iff done right will anyway boost your business 100 fold even if you don't make any money from this lotto itself.

I'm still analysing the pros, cons and the costs involved - will probably partner with a few of you from this forum and go ahead.. as the idea is not just a jackpot but much much deeper than that. and it sure as hell not a scam.. else I wouldn't be using my own identity or even discussing it on a forum.

I just feel, a 100BTC jackpot could drive huge traffic and we can easily get people to participate as tens of thousands of people are already invested in the market and thousands joining daily. There will be 20-30 winners with one of them winning 100 BTC.. I don't see any downside.. expect for all the negative ramblings of people scamming and stuff.

Frankly I don't even wish to make money from the jackpot itself, all the collections can to the winners - the traffic itself will pay for all the effort.

No one has done a 100 BTC jackpot yet... or have they?

Fair point about fake entries - I didn't consider this.

It is not just a lotto, I'm unable to fully disclose the idea - winning the 100 BTC jackpot is only an additional benefit to add to the excitement, but the actual collection of money is anyway happening for a reason that people are going to pay anyway which serves a real purpose.

So the investment/bet is not necessarily motivated towards winning the jackpot.


However since the Trust and security issues are brought u by almost everyone of you in this thread - I'm wondering how do I enforce the best security, transparency and trust. My thinking was, people/businesses pay to a given wallet for the service being rendered, at the end of it all - winners are randomly selected using a program and the corresponding winning stakes are sent to the winners. DONE. Am I missing something?

Or is their a Escrow service, where all the collections are directly deposited in real time for people to see and verify the Live bounty?

Relax Steve, it is all a hypothesis still - just looking for some inputs from experienced folks like yourself.

Also let's say it is being conducted by a very trust worthy brand, then you think it will be worthy of participating? remember 1 Winner gets 100 BTC and 20 more gets 2 BTC each.

From a chances ratio, isn't this something worth betting on?

Sir, it is not real - it's a hypothetical scenario..

You're InsurePal... extra caution and safety is expected of you. I'm talking about people with a little more appetite for fun..

Thanks for your input.. I needed such feedback only. Points noted. 

Yes, something like that - but my question is , is it not enticing enough to invest $0.01 to win 100 BTC with appx 15,000 contestants participating.

I've not played much lottery, neither an active user of Bitcoin - but given the fact that everyone trading is looking for a big return and risking their money anyway, a contest like this if not anything could be a lot of fun and excitement.

Would you not try to win 100 BTC with a 1/15000 chances ?

 

Only winner gets that, not everyone -

Am I totally nuts to think like this?

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost  0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...