Topic: [ANN][ICO] SmartBillions World’s first multi-billion-dollar blockchain lottery. - page 33. (Read 49667 times)

The Hackathon prize was deposited in the smart contract using the hotStore function by 6 different ETH addresses. The hotStore function allows any address to store funds anytime in the smart contract and then withdraw the prior stored amount using the won function. However the Jackpot management rules apply to these withdraws. One address cannot withdraw more than 50 % of the contract value and withdraws can be made every (4*60*24*30) blocks

1500 ETH Hackathon prize will be withdrawn in 2 cases:
1.   If there’s another bug found in the contract and Hacker will not withdraw all the funds, the remaining funds will be withdrawn by the same addresses that deposited the funds using the won function.
2.   If the funds will remain intact before the ICO the same addresses that deposited the funds will be able to withdraw exactly the same amounts as deposited (Hackathon prizes) in the later phase.

So you admit that you can take off the funds when you want so it's a matter of trusting you or not, you the anonymous person...

Why is there no info on the team.

And when there is a typo on a very important page on your website, it raises doubts...

Thank you for your support !!

Good luck on the second hackathon! Great project!

The second round rules are just like the first one: break the smart contract and withdraw the funds. If we  see that the contract was broken we will try to protect the remaining funds. This is obvious.
We also described now how the funds were deposited on the contract and how and when they can be withdrawn. We must have a possibility to withdraw this funds.
Imagine the situation when the ICO fails and what than ? the funds will remain in the contract forever ?
During the first hackathon the problem in the contract was found and the contract is now improved. Please remember that the hackathon is held to guarantee the  security of the investors funds - that's our first priority. Only the development team lost the funds because of the issue within the smart contract. This shows that we are very serious about the contract security and investors protection.
We risk our own money in order to protect the investors. Isn't that the most convincing thing you can do to prove that your product is safe ?

Please see the SmartBillions bounty thread !
https://bitcointalksearch.org/topic/bounty-smartbillions-official-bounty-thread16-million-budget-2187640

So the second round of the hackathon starts, and seems to rather conveniently forget to clarify some of the terms that were brought into controversy from the first round. Also, from the smart contract improvements I cannot see exactly what happens if a hacker is able to breach the system, except that all of it can be withdrawn again by developers.

What is the point then? If you want to limit the "prize", why not hold a 1 ETH hackathon event instead?

Will there be a bounty company for this ICO?

200,000 is certainly a serious statement

They got hacked already with loose 400 ETH ... Now second hackathon started with 1500 eth again. This should made a scracth on their unhackable ego's ... There is still time for it

https://medium.com/@SmartBillions/smartbillions-hackathon-smart-contract-hacked-with-120-000-b62a66b34268

Hi there's no softcap in the ICO. Only the hardcap at 200 000 ETH.

how much minimum target in ico selling dev
or sotfcap smartbillions coin

I think that in the present situation it would be clear if at least one person from the Team had appeared. For your safety, it is best to be a person from a country where gambling is legal. Otherwise, the ICO may fail. Too many unknowns and doubts for too many people...

SmartBillions smart contract is improved and now we are pleased to announce the hackathon second round.
1500 ETH was put in the smart contract address to validate the contract security after the improvements  were made.

Contract address:
https://etherscan.io/address/0x103c2c150a2dbcc277ee084c59881978060c8c22

The list of contract improvements:
1.   transferFrom function: You can only send owned Tokens.
2.   addHashes function: the database initiation is now safer.
3.   hotStore function: Anyone can deposit funds in the contact.
4.   coldStore function: In case of emergency the admin Is allowed to withdraw the whole surplus over the contract liabilities only when over 50 % of Tokens are redeemed.
5.   won function: will not return the bet value in case of database error
6.   play function: players are required to store more information in the database.

The Hackathon prize was deposited in the smart contract using the hotStore function by 6 different ETH addresses. The hotStore function allows any address to store funds anytime in the smart contract and then withdraw the prior stored amount using the won function. However the Jackpot management rules apply to these withdraws. One address cannot withdraw more than 50 % of the contract value and withdraws can be made every (4*60*24*30) blocks

1500 ETH Hackathon prize will be withdrawn in 2 cases:
1.   If there’s another bug found in the contract and Hacker will not withdraw all the funds, the remaining funds will be withdrawn by the same addresses that deposited the funds using the won function.
2.   If the funds will remain intact before the ICO the same addresses that deposited the funds will be able to withdraw exactly the same amounts as deposited (Hackathon prizes) in the later phase.

The funds from the first Hackathon were withdrawn by the Admin using the coldStore function.
The withdraw was possible because there weren’t any liabilities on the contract such as Token redeem and win payouts. There weren’t any wins to pay out because the players were able to claim the wins after a given time period, they weren’t the lottery winners right after the lottery draw. At the moment of the Admin withdraw there were no wins to pay.

The funds raised during an ICO are protected within the smart contract.
Withdrawals by the admin are possible in the coldStore function only under certain conditions.

function coldStore(uint _amount) external onlyOwner
 {
        houseKeeping();
        require(_amount > 0 && this.balance >= (investBalance * 9 / 10) + walletBalance + _amount);
        if(investBalance >= investBalanceGot / 2){ // additional jackpot protection
            require((_amount <= this.balance / 400) && coldStoreLast + 4  60  24 * 7 <= block.number);
        }
        msg.sender.transfer(_amount);
        coldStoreLast = block.number;
}

This line:
require(_amount > 0 && this.balance >= (investBalance * 9 / 10) + walletBalance + _amount);

guarantees that the admin can never withdraw  funds that are protected: the 90% of the funds invested during the ICO plus the funds in wallets waiting to be withdrawn (these includes unpaid prizes due to lack of funds in the contract; however these prizes must have been claimed with the won() function before, otherwise the prizes are not known to the contract).

There is also an additional important limit that the withdraw amount must be smaller than 0.25% of the jackpot and this fraction cannot be withdrawn more often than every 7 days (4*60*24*7 blocks).

This additional limit is waived if 50% of investors decide to disinvest.

This additional limit means that if there is a large lottery win waiting but the winner did not collect his winnings yet, then the admin can run away with 0.25% of the current jackpot , leaving 99.75% of the jackpot still in the contract. Thus this risk has a negligible effect on the collected funds by the winner. The regular withdraw of 0.25% per week by the admin to promote the lottery is an expected behavior.

Hello sir, your bounty page states that bounty ends on the day ICO ends and further says 30th of October. Please when will ICO start and how long is it going to take?

Thanks for the clarification and detailed examples. Now it's clear to me.

Hi, thank you for your support. SmartBillions team worked hard on the contract improvements recently. We hope that second hackathon that will be announced tommorow will prove the contract security and quality.

hi , i think you can easily compete with trueflip. their team is so slow and untrustable. they are delaying everything and there isnt any development..  good luck at your ico.

In order to answer your question. The Admin cannot withdraw more than the 90 % of the raised sum and the funds waiting to be withdrawn as a wins.
Investors and winners funds are always protected. I will demonstrate Admin withdraws on the following examples.
Let's assume that there was 200 000 ETH raised during the ICO - 100 % goal. 90 % of the raised sum - 180 000 ETH will be allocated to the Jackpot. 10 % will be allocated to the marketing fund.

Scenario 1: During the first week contract earns 1000 ETH the contract balance is 181 000 ETH  after the first week. Admin will be able to withdraw 0.25 % of the Jackpor value - 452.5 ETH
Scenario 2: During the first week contract earns 100 ETH the contract balance is 180 100 ETH after the first week. 0.25 % of this sum equals 450.25 ETH but Admin will be able to withdraw only 100 ETH. so after his withdraw the contract balance will equal 180 000 ETH - 90 % of the raised sum. Because he cannot withdraw funds that are reserved for Token redeem and wins payouts.
Scenario 3: During the first week contract loses 1000 ETH the contract balance is 179 000 ETH after the first week. Admin won't be able to withdraw any funds.

I hope that this will clear the Admin withdraw rules. Remember that the Investors and winers funds are always protected. Please see also my posts above.

I read the discussion on first five pages and I also think this is a scam or least false representation of the facts for billions jackpot.

I will stay away and suggest you to do the same.