Topic: [ANN][ICO] SmartBillions World’s first multi-billion-dollar blockchain lottery. - page 28. (Read 49667 times)

There's no point in comparing SmartBillions to TrueFlip. SmartBiilions is a lottery based on the Ethereums' smart contract, fully transparent and decentralised. Where TrueFlip is a lottery that is administrated by the Admin.

For TrueFlip, the post ICO price (Exchange) was 50% cheaper than the ICO price.
Personally for this reason, I will buy after the ICO on Exchange, and I'm pretty sure the price will be 50% Cheaper

What is the advantage of investing at the start of the ICO instead of the end?

What is the advantage of investing at the start of the ICO instead of the end?

This is a ERC20 token?

how to add token to wallet?

Hello guys.
For a while i'm investing in the cryptocurrencies and till today I was not interested in ICOs at all (too risky and unpredictable result ). Today I've found this project and became really interested in it. And I intended to invest in it until... I looked at the TrueFlip and it's team's results and the mood of its investors . Now I'm trying to guess whats the difference between these two projects and how SmartBillions intend to overcome the difficulties the TrueFlip faced.... So I have some questions :
1. Web site of TrueFlip is banned in some countries (I've found out Russian Federation and  the US, and I think there are more). This cuts off a big part of gamers. How will SmartBillions handle this issue?
2. Tokens of TrueFlip have not been listed at popular exchanges, all promised time limits have gone and their price declines. How can we be sure that tokens of SmartBillions will be listed, are there any facts or negotiations confirming the plan of SmartBillions' team to be listed at exchanges?
3. How will be token dividents payed out to the holders? For example, at TrueFlip they are paid with great delay and manually. So the investors are very angry!
4. The smallest bet at TrueFlip is 0.0005 and it is stated in SmartBillions whitepaper to be 0.001. So where is the competitive advantage?

PS English is not my native language, I hope I've made my ideas clear to understand.

SmartBillions payouts are instant, direct, secure and anonymous. They are many times higher than the ones offered by any previous lottery, as well as those offered by all current offline and online competitors.

Here is what I noticed while trying to hack the Ether contract. Please correct me if I'm wrong.

1. The share for the dividend payments can decrease but not increase. If investments are removed with the disinvest() function the shares and hence the paid out dividends are still calculated with the max amount that was invested ever.

As long as the max amount of 200000 ethers invested is not achieved the share shrinks with every investment (totalSupply is incremented in the invest() function). For 20000 ethers it is 1/20000, for 30000 ethers it is 1/30000 and so on.

But in the other direction (possible with the disinvest() function), the shares don't increase again.

Assume the max possible 200000 ethers were invested. Then one share is 1/200000.
After someone disinvests 50000 ethers one share is still only 1/200000 and not 1/150000.

The reason is that in the disinvest() function only investBalance is decremented but not totalSupply and in the commitDividend() function the shares are still calculated with totalSupply: uint share = balances[_who] * 0xffffffff / totalSupply;


2. In the same function (commitDividend()) there is a loop through every yet not paid out dividend period using the actual share calculated like above. This means that if someone did not pay out dividends for say the last 4 periods, and until this time the invested amount raised while 200000 wasn't achieved the shares of the periods 1-3 are still calculated with the last, highest investment amount (smallest possible share) of period 4 instead of the actual share that was active during the corresponding period 1-3.


3. Whitepaper/hackathon coverage:

From the whitepaper:

"7. Risk-free smart contract product with full security proven in the hackathon process (hackathon prize: 1500 ETH) provided by SmartBillions’ creators to validate the system’s safety)."

For this to be true the word "full" has to be replaced with partial. The hackathon only covered the case when the contract is in preparation state (investStart == 1). Hackers had no way to withdraw the 1500 ETH if they found a bug concerning the ICO (investStart > 1) or investment closed (investStart == 0) state.