Topic: [ANN][ICO] SmartBillions World’s first multi-billion-dollar blockchain lottery. - page 29. (Read 49667 times)

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.

Nice article , looking forward to the ico.

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 Takes Gambling to an Unimaginable Level

The online lottery industry is currently suffering from a lack of growth. This is due to limited transparency and decentralization as well as hidden fees, convoluted rules, cheating, and a lack of trust. Third party involvement has also been shown to severely influence prize payouts and skew draw results, reducing the public’s trust in traditional lottery systems. The aim of SmartBillions is to provide the public with a fully transparent lottery system and freedom to participate for everyone around the world.

SmartBillions, is the world’s first lottery system that is completely transparent, decentralized, and fully anonymous. The platform is actually a smart contract that runs on the Ethereum Blockchain. It will allow people all over the world to partake in online gambling in a multibillion dollar industry that’s constantly booming.

How Is SmartBillions Different?

SmartBillions aims to eliminate the fear of cheating, unfair taxes, and strict regulations. Run on an entirely decentralized platform and not influenced by any organization, company, or party. The lotteries secure system ensures that cheating and unsportsmanlike manipulations are gone.

https://coinidol.com/smartbillions-takes-gambling-to-unimaginable-level/

SmartBillions takes gambling to an unimaginable level: https://coinidol.com/smartbillions-takes-gambling-to-unimaginable-level/

Next Level,

you cannot bet multiple because every bet is a diffrent transaction on blockchain. This is the most important feature of the SmartBillions lottery. Every bet is made from the players wallet to the smart contract. To bet multiple times you need to send multiple transactions to the contract.
Of course the player can automize the betting bu implementing scripts to his wallet. We will also introduce such a solutions for the players.
The average single bet value in our estimations is set at 0.03 ETH (9 $), which is lower than iour competitors (i.e. True Flip single bet value is 0.005 BTC - 25 $)
Please remeber that the upcoming Metropolis fork will lower the block time to ca. 15 seconds and this will double the transaction number.
 The most important SmartBillions lottery is it's transparency and fairness. This is why all bets must be recorded in the Ethereum blockchain. The bets are not made from the internal players wallets within the smart contract but from external wallets. This guarantees the players protection.

 If you have any other questions relating the smart contract or the assumptions from the white paper please feel free to ask.

There is a big problem: you missed to implement to bet multiple times.

A player would play with 1 ETH. He don't want set just a single bet, but would like to bet with his numbers 100 times (i.e. 100 blocks) 0.01 ETH. Currently, he must do that manually which cost time and GAS (and nervs). So he won't do it.  therefore you throw away a big part of potential players. 

But this is not even the huge part of the issue:
Lets take your lowest ANNUAL TICKET SALES assumtion in your WP = 400 mln $
Lets assume that the average bet will be 1$ (realistic)
This results in 400mln transactions per year in the ethereum blockchain
Including the current ~350k tx/day (130mln tx/year), you will already blow up the realistic limit of about 15 tx /second that ethereum can handle !

It's less than 5 days to ICO. So i STRONGLY recommend to extend the bet function for repetitive bets. Otherwise you CANNOT scale to the size you've planned.

IMHO

(Also posted in telegram)

Please check this link:
https://join.slack.com/t/smartbillions/shared_invite/enQtMjU0NzAyNjk5MTI1LTIyZTljNDIyMDk2NDZjM2M1ZTk3NjI0NzZiYWZjZmMwZGQ5MjVkNzc3MDczYTU1NjU2ZGVmMDE0YTY1ZWMzMDQ
[/quote]

Thank you

Please check this link:
https://join.slack.com/t/smartbillions/shared_invite/enQtMjU0NzAyNjk5MTI1LTIyZTljNDIyMDk2NDZjM2M1ZTk3NjI0NzZiYWZjZmMwZGQ5MjVkNzc3MDczYTU1NjU2ZGVmMDE0YTY1ZWMzMDQ

SmartBillions is running a very attractive promo so that is looking hot project at the moment their promo for Hackathon event with huge prize money is going very well a lot of people involved in it. I think so this ICO will go very successful because of wonderful effort by the team.

slack not working:

Slack:
https://join.slack.com/t/smartbillions/shared_invite/MjM4MTc5NjQyNTc4LTE1MDQ4NzE5MjYtOTAwZjExMGVjMA&ust=1505215680000000&usg=AFQjCNFjM_ikvCm4z4kAmr72BZj7cXXPlw&hl=pl&source=website
Telegram:
https://t.me/joinchat/GaSKHxF-sLbIEnxQ316MeQ

true, the slack link on the homepage is no longer active.

also github links are not working in this bitcointalk signatures like the one from Fraxinus:

https://github.com/SHAzardEU/contract  -> Page not found

Here is Telegram: https://t.me/SmartBillionsGroup

 5 days till ICO. Is there any white list?

I need a working link for slack, can someone help me please?

This will be huge.

can't wait till the lottery is live, I'll be all over it haha

SmartBillions added in our site now!

Link to the link the Spanish Smartbillion thread:

https://bitcointalksearch.org/topic/annico-smartbillions-la-primer-loteria-billonaria-en-blockchain-2245656