You have to put the contents or the prizes in the crates before the game even begins. A short description or something. Then that must be hashed and published so people can verify when the spreadsheet is revealed that the contents or the prize of those crates did not change.
You add a "salt" or some other known secret or hashed secret, so that people don't attempt to guess what's in the crate by trying all the hashes.
You add a "salt" or some other known secret or hashed secret, so that people don't attempt to guess what's in the crate by trying all the hashes.
So, I will probably make 25 prizes every round. It will cost ~0.02 Bitcents to buy a crate. Possible prizes will probably include:
6 bombs (elimination)
6 tickets (get what you paid back minus transaction fees if there are any)
5 cents (get half of what you paid back)
8 dollars (get 2x what you sent minus transaction fees)
So, if my math is correct:
We start with a bankroll of 25*.02 = .5 BTC every round.
Six people are eliminated, giving us .5 BTC left.
Six people get their .02 BTC back. .5 - (6*.02) = .38 BTC
Five people get half of the .02 BTC back. .38 - (5*.01) = .33 BTC
Eight people get twice what they paid. .33 - (8*.04) = .01 BTC left
So every round, I will get .5 BTC and will be left with a profit of .01 BTC. This seems fair to me. Does anyone disagree with this system?
Also, how can I set it up so that the hashes and salts will be known by me and the other trusted member but not by anybody else?
