The expected amount here is exactly the same you put in.
My mistake, in the same post I simultaneously remembered and forgot that you aren't charging any fees.
Topic: Bitcoin Lottery: minimum just 0.01 btc! Next draw: July 1 Jackpot 1.52 btc - page 2. (Read 11002 times)
May 31, 2011, 04:32:09 PM
My mistake, in the same post I simultaneously remembered and forgot that you aren't charging any fees.
May 31, 2011, 12:45:18 PM
The expected amount here is exactly the same you put in.
My mistake, in the same post I simultaneously remembered and forgot that you aren't charging any fees.
May 31, 2011, 12:27:18 PM
Can't you just send 100 BTC into the fund a few minutes before the draw closes, and then almost certainly win everybody's bitcoins? Then use those bitcoins again for the next lottery.
Yes, the chance of winning is proportional to the amount. You have also a small chance of loosing (almost) all your bitcoins if the average is small. It is about the same as buying almost all tickets of a lottery. And if you win, you almost win nothing (compared to your 100 btc)Yes, like any lottery the expected amount of winning will be less than the amount you put in (unless you are the only person playing the lottery). But since you're you, you can just choose not to pay out the money in that case and leave the forum forever. You don't make any profit from this lottery (or any future lottery) so you have no reason to hang around.
It is just the fun. Maybe some day I create a lottery that does make some profit, but for now I leave it this way. Making 1 or 2 percent profit is also not worth the time you put in it (or the Jackpot must be really really high).
May 31, 2011, 12:09:08 PM
Can't you just send 100 BTC into the fund a few minutes before the draw closes, and then almost certainly win everybody's bitcoins? Then use those bitcoins again for the next lottery.
Yes, the chance of winning is proportional to the amount. You have also a small chance of loosing (almost) all your bitcoins if the average is small. It is about the same as buying almost all tickets of a lottery. And if you win, you almost win nothing (compared to your 100 btc)Yes, like any lottery the expected amount of winning will be less than the amount you put in (unless you are the only person playing the lottery). But since you're you, you can just choose not to pay out the money in that case and leave the forum forever. You don't make any profit from this lottery (or any future lottery) so you have no reason to hang around.
May 31, 2011, 11:45:10 AM
Can't you just send 100 BTC into the fund a few minutes before the draw closes, and then almost certainly win everybody's bitcoins? Then use those bitcoins again for the next lottery.
Yes, the chance of winning is proportional to the amount. You have also a small chance of loosing (almost) all your bitcoins if the average is small. It is about the same as buying almost all tickets of a lottery. And if you win, you almost win nothing (compared to your 100 btc) May 31, 2011, 11:38:31 AM
Can't you just send 100 BTC into the fund a few minutes before the draw closes, and then almost certainly win everybody's bitcoins? Then use those bitcoins again for the next lottery.
May 31, 2011, 01:00:51 AM
Paid it: http://blockexplorer.com/address/113Wq7ngZiqosdwrmjzXxmvf5boPUaQw95
(It is the one with date 2011-05-31 05:58:20)
Congratulations!
(It is the one with date 2011-05-31 05:58:20)
Congratulations!
May 30, 2011, 05:10:28 AM
0.01 btc to go...
Jackpot for 3 July is 0.04 btc!
Jackpot for 3 July is 0.04 btc!
May 30, 2011, 12:31:12 AM
0.02 btc to go...
May 29, 2011, 11:08:20 AM
I need 0.03 bitcoin for the transaction... But I have only 0.36 btc because of the first six times bonus... So the wait is till I get some mining cents or new tickets.
May 29, 2011, 09:03:19 AM
113Wq7ngZiqosdwrmjzXxmvf5boPUaQw95 won 0.36 btc!
The random key was
Xgh=P3cTMcCGV=QMwywOa\3DyK^tW9P?u]3GnD\X0f3ZXfJK>
with tickets:
["1Km4sASEeKUWPtjRaSxmVghF5FfkadWVei",2],
["18uZGH42pcmHVtZ8sux7bCf8oJJtSCAAJs",1],
["1Jmn97kfJ6DBBCuft6Z1oW8e2Lwgheyr6s",2],
["1Jmn97kfJ6DBBCuft6Z1oW8e2Lwgheyr6s",1],
["1Jmn97kfJ6DBBCuft6Z1oW8e2Lwgheyr6s",1],
["1Myn229CXkW796kDrUd9obGbC43aYzeTAb",3],
["1368J5rDUheBr1kvaubWuDDFBnSaTcBogK",1],
["1EVP7etmA6RRBFW7sgf595QtiUxX3fs1Mt",4],
["1F35MvPKPSEc1L198dPR1weyXnkDG516fN",1],
["113Wq7ngZiqosdwrmjzXxmvf5boPUaQw95",10],
["1NcG2RD6SQ2DE34tuT2fEFy2BEBP1ritpA",10]
The random key was
Xgh=P3cTMcCGV=
with tickets:
["1Km4sASEeKUWPtjRaSxmVghF5FfkadWVei",2],
["18uZGH42pcmHVtZ8sux7bCf8oJJtSCAAJs",1],
["1Jmn97kfJ6DBBCuft6Z1oW8e2Lwgheyr6s",2],
["1Jmn97kfJ6DBBCuft6Z1oW8e2Lwgheyr6s",1],
["1Jmn97kfJ6DBBCuft6Z1oW8e2Lwgheyr6s",1],
["1Myn229CXkW796kDrUd9obGbC43aYzeTAb",3],
["1368J5rDUheBr1kvaubWuDDFBnSaTcBogK",1],
["1EVP7etmA6RRBFW7sgf595QtiUxX3fs1Mt",4],
["1F35MvPKPSEc1L198dPR1weyXnkDG516fN",1],
["113Wq7ngZiqosdwrmjzXxmvf5boPUaQw95",10],
["1NcG2RD6SQ2DE34tuT2fEFy2BEBP1ritpA",10]
May 28, 2011, 04:09:00 PM
I sent 0.1, hope I'm not too late 
(also am I one of the six?)
(also am I one of the six?)No unfortunately not. Jackpot is now 0.36 btc. I will look tommorow who won. But let's say the game stops at 23:59:59 28 may UTC (3 hours). The others will participate in next lotto.
May 28, 2011, 02:00:56 PM
I sent 0.1, hope I'm not too late (also am I one of the six?)
(also am I one of the six?) May 28, 2011, 01:00:22 PM
Then it must be 0.16 btc now =)
May 28, 2011, 12:42:30 PM
Sent .01 BTC.
May 28, 2011, 12:38:03 PM
Wait are you saying I am guaranteed 0.01 BTC in profit + a chance to win if I transfer you my 0.01 BTC?
?
Yes, that was actually the case ?
For me 6 * 0.03 = 0.18, bigger than the jackpot size May 28, 2011, 11:42:59 AM
Just sent 0.04.
May 28, 2011, 11:13:22 AM
Wait are you saying I am guaranteed 0.01 BTC in profit + a chance to win if I transfer you my 0.01 BTC??
? May 28, 2011, 10:03:12 AM
Size is 0.11 bitcoin now!
May 28, 2011, 06:52:47 AM
I did now =)
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