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I am not much into gambling, but someone asked me to do some research on a blockchain-based lottery project and I would like to get some advice.
Experiencing the existing lottery site would be easier for you to answer your question or gather information about your research.[/quote]
I played them all already. And I have a lot of questions about how they work and operate.
Seems like freebitco.in lottery works on ZKP principle. But I still have to figure out if so called "client seed" is sent to server before getting SHA256 of "server seed".
If any of y'all did or know of some research done on this lottery that would be fantastic.
There are definitely crypto based gambling tokens and blockchains centered around that. BTC owes alot of its success and history to gambling usage and traffic that helped raised its monetary velocity and still does I think. Depends how strictly you mean lottery or just general gambling usage, Im not sure why'd it matter between the two. To some extent involvement in crypto is a gamble anyhow, it can go down or up so not sure I want to raise too much risk on top of that. To build a customer base takes time and trust and its not easy to do, Freebitco has been around years but I'd theres more then one site that'll be relevant.
I spoken to several hardcore players already. So every time they say "there is a lot of other blockchain lotteries".
There is a lot of project that claim blockchain lottery or blockchain gambling, but they are not, in fact, because they merely accept bets in crypto and this where their "blockchain" ends.
And I've seen good portion of such projects. Very few really do something on blockchain, meaning with smart contract or something similar. It is almost impossible to do Bitcoin-based lottery simply because Bitcoin scripting is very limited and you can't just do anything about it.
Ethereum, on the other hand, is very promising. One can actually program in smart contract accepting bets (ie token transfers), do the round/draw calculations including strong random, and do the payout of prizes.
It would be a pure distributed lottery on a blockchain.
Seen this common blockchain based lottery which had been done on ETH platform and yes smart contracts are indeed great into this field but still it do lacks out interest for people and
rather stick out to those Bitcoin-lottery instead.Dont know on why but people arent really that fan on other platforms.
Counting of the volume on how many people are interested generally with Lotteries then it isnt really that much thats why only a few or close to none doesnt really
plan on launching out their own lottery site due to lack of interest.
I understand that, but IMHO it worth a try.
In fact, I think it can be a major driver for global acceptance of cryptocurrency.
So whole community would benefit from it.
There are definitely crypto based gambling tokens and blockchains centered around that. BTC owes alot of its success and history to gambling usage and traffic that helped raised its monetary velocity and still does I think. Depends how strictly you mean lottery or just general gambling usage, Im not sure why'd it matter between the two. To some extent involvement in crypto is a gamble anyhow, it can go down or up so not sure I want to raise too much risk on top of that. To build a customer base takes time and trust and its not easy to do, Freebitco has been around years but I'd theres more then one site that'll be relevant.
I spoken to several hardcore players already. So every time they say "there is a lot of other blockchain lotteries".
There is a lot of project that claim blockchain lottery or blockchain gambling, but they are not, in fact, because they merely accept bets in crypto and this where their "blockchain" ends.
And I've seen good portion of such projects. Very few really do something on blockchain, meaning with smart contract or something similar. It is almost impossible to do Bitcoin-based lottery simply because Bitcoin scripting is very limited and you can't just do anything about it.
Ethereum, on the other hand, is very promising. One can actually program in smart contract accepting bets (ie token transfers), do the round/draw calculations including strong random, and do the payout of prizes.
It would be a pure distributed lottery on a blockchain.
The suggestion for you will be maybe you can lower the bet because if you use $10 for one bet, that will be too big for people.
Good point, thank you.
But let me do the math.
Lets say out of each bet $10 we distribute:
1. Jackpot winner - at least 50% or more.
2. Secondary winners - 20% or more.
3. Network, (mining fees, gas price) - 10%.
4. What is left goes to organizers.
So not much left.
Thank you for your reply. And also all others who replied, I really appreciate you reacted.
So to start with, the idea of the project is pretty simple.
Each day a pool of all the bets made within 24 hours is drawn, so the winner gets a fixed % of the whole pool.
The rest is split between smaller prize winners, the lottery organizers and eventually blockchain fees.
The bets are made in USDT directly. There is no need to buy any tokens, or any lottery tickets.
One bet is 10 USDT. Players can place as many bets as they like to increase their chances.
The logic behind the lottery is fully coded into a smart contract - bets, random winners selection, payouts, so it is really a blockchain lottery.
So to start with, the idea of the project is pretty simple.
Each day a pool of all the bets made within 24 hours is drawn, so the winner gets a fixed % of the whole pool.
The rest is split between smaller prize winners, the lottery organizers and eventually blockchain fees.
The bets are made in USDT directly. There is no need to buy any tokens, or any lottery tickets.
One bet is 10 USDT. Players can place as many bets as they like to increase their chances.
The logic behind the lottery is fully coded into a smart contract - bets, random winners selection, payouts, so it is really a blockchain lottery.
I think you should know the fact that such ideas are likely to have pretty numerous cons, yet the most disadvantage of that system is its fairness issue. If you could make a logic that wouldn't be favorable or bias on certain bets or just have the winning numbers be totally random, it would now make another con which is your user's trust. And what would they found much suspicious is the ticket/bet price which is too high compared to common lotteries. If you really want audiences, making blockchain lottery is fine, but you would struggle with gaining client's trusts and finding fairness bugs in your system..
Thats completely different point. The idea was exactly to make:
1. Provable and verifiable unbiased algorithm the does pure random winner selection.
2. Provable and verifiable payout mechanism.
So having that implemented, I wonder what would be the customer acquisition costs? Does it require licensing if whole logic is placed within a smart contract.
I've been hearing a similar idea too, though IMO it would be pretty hard to get people in since most of them would be playing dice anyway and try their luck in there since they can control some of the factors affecting their win/loss compared to just putting something in a pot and hope for the best. While that is happening still on a daily basis on traditional lottery games, I don't think it will fare well given the multitude of options gamblers can choose from here on the crypto space. Either way, it'd still be a cool experiment to check how many people are really willing to try their extreme luck for the jackpot.
I can't find exact stats now, but I remember 60M people playing lotteries in the US alone.
Asian market is much larger.
BTW cryptolotto.live sounds like really close match, but I couldn't launch it to try (even though I have MetaMask installed).
~
Based on my comprehension, I found the thread pointing unspecific on what he really wanted to achieve. I don't really see if the OP is pertaining to lottery systems that either uses cryptocurrency as their fiat (in which uses blockchain technology as well) or is he talking about making a lottery system that uses blockchain as it's back-end technology. If he talks about crypto's blockchain, then maybe your vipgame.io is his best option. And if he wanted the back-end blockchain, I think Cryptolotto fits the category.
Nevertheless, getting ideas from others without specifying your whole plans or goals to achieve, you might find comments that are either unnecessary or off-topic with what you really intended.
Thank you for your reply. And also all others who replied, I really appreciate you reacted.
So to start with, the idea of the project is pretty simple.
Each day a pool of all the best made within 24 hours is drawn, so the winner gets a fixed % of the whole pool.
The rest is split between smaller prize winners, the lottery organizers and eventually blockchain fees.
The bets are made in USDT directly. There is no need to buy any tokens, or any lottery tickets.
One bet is 10 USDT. Players can place as many bets as you like that is to increase your chances.
The logic behind the lottery is fully coded into a smart contract - bets, random winners selection, payouts, so it is really a blockchain lottery.
Hi everyone,
I know you have a lot of projects popping out here every day.
I am not much into gambling, but someone asked me to do some research on a blockchain-based lottery project and I would like to get some advice.
I know you have a lot of projects popping out here every day.
I am not much into gambling, but someone asked me to do some research on a blockchain-based lottery project and I would like to get some advice.
~snip~
Hi, pezdspense. Think carefully before deciding to buy bitcoins for cash, as this leads to loss of anonymity, which is very important for cryptologists. Think about purchasing bitcoins in small batches to minimize the risk on one of the trading platforms of undemanding KYC.
I bought it and it already cost more.
What a fantastic opportunity for lazy investors like me
do not but btc now, wait for at least 2 weeks!
I was planning to buy on weekend.
I guess it should not go below $6000 a lot.
To me it looks like it will slowly grow from now on.
Hi guys,
I live in Florida, and I would like to buy Bitcoin now.
I want to get some 2 BTC.
Where should I look for sellers who can accept cash?
I live in Florida, and I would like to buy Bitcoin now.
I want to get some 2 BTC.
Where should I look for sellers who can accept cash?
i recommend https://localcryptos.com/. it's a non-custodial platform that doesn't do KYC. https://paxful.com/ is another option, but they will require KYC if you use their wallet/escrow system with that much volume.
ever since localbitcoins ramped up their KYC process and removed cash listings, the market has never been the same. you might need to list your own offers and use multiple p2p exchanges to get the job done with cash.
here is a list of other alternatives: https://bitcointalk.org/index.php?topic=5224711.0
Seems like Paxful is really useful one to do that. Localbitcoins have no cash option at all.
Thank you for your advice.
Hi guys,
I live in Florida, and I would like to buy Bitcoin now.
I want to get some 2 BTC.
Where should I look for sellers who can accept cash?
I live in Florida, and I would like to buy Bitcoin now.
I want to get some 2 BTC.
Where should I look for sellers who can accept cash?
i recommend https://localcryptos.com/. it's a non-custodial platform that doesn't do KYC. https://paxful.com/ is another option, but they will require KYC if you use their wallet/escrow system with that much volume.
ever since localbitcoins ramped up their KYC process and removed cash listings, the market has never been the same. you might need to list your own offers and use multiple p2p exchanges to get the job done with cash.
here is a list of other alternatives: https://bitcointalk.org/index.php?topic=5224711.0
Oh, thank you.
The list of P2P exchanges is very useful...
⭐ Merited by OmegaStarScream (1)
Hi guys,
I live in Florida, and I would like to buy Bitcoin now.
I want to get some 2 BTC.
Where should I look for sellers who can accept cash?
I live in Florida, and I would like to buy Bitcoin now.
I want to get some 2 BTC.
Where should I look for sellers who can accept cash?
When you worry this much, i think it shows you have little gas fee to spend
yes the transaction gas has been high since money, i think the etherum is busy and it is stil not a huge amount.
The highest gwei can't be more than 0.6$ which is cheap
yes the transaction gas has been high since money, i think the etherum is busy and it is stil not a huge amount.
The highest gwei can't be more than 0.6$ which is cheap
TS meant network capability. Your post is irrelevant.
I am doing a marketing research.
I want to pay $1 for each scan of printed receipt from Bitcoin ATM.
PM me your scans together with your address for payout.
Printed receipt must match the following conditions:
1. The date should be starting 1st of March 2018.
2. The purchased crypto should be Bitcoin.
3. The purchase should be made using Bitcoin ATM manufactured by Lamassu, General Bytes, Genesis Coin (locations can be found on www.coinatmradar.com).
4. Purchase should be made in these countries: US, Mexico, Austria, Australia, Singapore, South Korea.
5. Printer receipts should be verifiable, ie I will track them down in blockchain by amount and date.
Thank you and God bless!
I want to pay $1 for each scan of printed receipt from Bitcoin ATM.
PM me your scans together with your address for payout.
Printed receipt must match the following conditions:
1. The date should be starting 1st of March 2018.
2. The purchased crypto should be Bitcoin.
3. The purchase should be made using Bitcoin ATM manufactured by Lamassu, General Bytes, Genesis Coin (locations can be found on www.coinatmradar.com).
4. Purchase should be made in these countries: US, Mexico, Austria, Australia, Singapore, South Korea.
5. Printer receipts should be verifiable, ie I will track them down in blockchain by amount and date.
Thank you and God bless!
There's new research for crypto ATMs, but i doubt that it might be usefull for you.
https://www.marketsandmarkets.com/PressReleases/crypto-atm.asp
Yeah, this report is barely usable. Report data is already known.
I am doing a marketing research report on Bitcoin ATMs.
I want to pay $1 for each scan of printed receipt from Bitcoin ATM.
PM me your scans together with your address for payout.
Printed receipt must match the following conditions:
1. The date should be starting 1st of March 2018.
2. The purchased crypto should be Bitcoin.
3. The purchase should be made using Bitcoin ATM manufactured by Lamassu, General Bytes, Genesis Coin (locations can be found on www.coinatmradar.com).
4. Purchase should be made in these countries: US, Mexico, Austria, Australia, Singapore, South Korea.
5. Printer receipts should be verifiable, ie I will track them down in blockchain by amount and date.
For those, who can provide me more than 100 receipts at once, I will additionally provide a copy of report.
Thank you and God bless!
I want to pay $1 for each scan of printed receipt from Bitcoin ATM.
PM me your scans together with your address for payout.
Printed receipt must match the following conditions:
1. The date should be starting 1st of March 2018.
2. The purchased crypto should be Bitcoin.
3. The purchase should be made using Bitcoin ATM manufactured by Lamassu, General Bytes, Genesis Coin (locations can be found on www.coinatmradar.com).
4. Purchase should be made in these countries: US, Mexico, Austria, Australia, Singapore, South Korea.
5. Printer receipts should be verifiable, ie I will track them down in blockchain by amount and date.
For those, who can provide me more than 100 receipts at once, I will additionally provide a copy of report.
Thank you and God bless!
SOLD ALL.
this topic can be closed.
thank you!
this topic can be closed.
thank you!
Lucky you. Did you sell 200 for 90?
How do we get paid? Does someone come collect cash or do we pay in advance for crypto before each transaction? Let me know very interested thanks!
Yes, in fact you're selling your own crypto using these machines. You need to get crypto in advance (either buy it or mine it). That's why our machines are perfect companion for miners. You may sell your crypto for a fee, the usual fee is 3-6%% plus network/withdrawal fee.If you aren't mining, we recommend buying USDT (or any other fiat-fixed coins/tokens) and use it for auto-conversion to any desired crypto a customer could buy using your Trovemat. This way you are protected from rate volatility risks. If your exchange can't convert from USDT to some crypto, don't worry: Trovemat automatically will make a cross-conversion for you. For example: USDT--->BTC--->{some_wierd_crypto}. And of course Trovemat will calculate all expenses (trading fees) for cross-conversion, so you won't loose a penny from it
Why can I not connect to my favorite exchange via API call? No risk at all, I never own any crypto, customer gives 500 bucks and machine goes and purchases it from exchange then sends to them later. Or am I misunderstanding you?