Topic: Bitcoin Lottery -Teenage developer/co founder? (Read 1724 times)

Precisely this. Overlooking the law is a great way to quickly have everything you have worked on shut down and get yourself in a boatload of trouble. You don't disregard the government, especially with something like this.

Let me reiterate on this, one does not simply overlook legal implications on any matter that may soon cause a problem that involves legal actions or the likes. Also, how can you safely say that you will not run away with the funds, given that you are in charge of this matter? With the low budget, how can you assure the future investors of your project that you will get the job done with some help of "professionals"? Sorry man, but I don't think this project of yours will be implemented. All of your proposals may take a little while before it may see some decent profit--or operation for the least.

That's not good. If you've only briefly looked into the legal implications of making a Bitcoin Lottery (esp. as a teenager) you are going to have major issues later on down the line. You can't just decide to overlook that.

Something that makes me uneasy about this the fact you mention you will be using Elliptic. You technically still own the money when goes to you..its just more secure from theft. Anywho you can still run off with that money. You have nothing to justify that part.

Hey! Thanks for the feedback.

Here our my answers to your questions:

The coins would most likely be held in a account separate from us, but held by Elliptic a insured bitcoin storage.
Whilst the legal implications are only something I have looked into briefly, I am sure there is a way to get by any problems.
The 2,500 investment figure was more forced apon me by my partner at the event, as a more experienced hackathon attender he suggested I added an investment page at the end. It was spontaneously made with no real intention of anyone investing. I wasn't to keen on having it there as I wasn't looking for investors nor did I think it was appropriate at that stage in the development of the idea. Hopefully that answers other questions. Like the again spontaneous "buy the things I will need page" page. They are purely on that powerpoint to adhere to what my partner said was the right thing to do, they don't mean anything.

Thanks!

You have a very nice idea but I have spotted a few things that seem wrong in my opinion. Keep in mind this is what I think..I am not saying that this is what you are doing but people may assume this.

• You say it is transparent so that the owners cant just run away with it. Even though it is transparent they can still run away...
• Offshore and US IP - You will get into some serious trouble even if you hide yourself etc. They will still find you.
• You said you needed at least £2,500 to run this operation.
• You are 16.
• You are too new to announce something like this.

     
 [.] You are asking for money (investment) into your project with no proof of guarantee and or collaboration for it
          
[..]"Work on this all summer" - Trust me a project like this will take a lot longer. If not expect to get a lot of negative feedback as you are not a actual team of developers. From what I see you are only doing mock ups. Something like this would take at least 1-2 years of building and a good few months of bug testing.
              
 [...]"buy the things I’ll need (e.g. Balsamiq, Sublime Text, ...)" - Balsamiq is just a mockup application which people commonly use to make interfaces to make fake projects and get people to invest and run from them. Sublime Text works just fine with the free version. It seems like you are just asking for money to buy things that are not even needed and does not help this at all.

 [....]"contract a developer for a few hours if needed + get some professional regulatory advice" - With a £2,500 budget you won't get this project finished and that you are looking for developers means you actually have no POC yet but just a mockup which doesn't do anything if you have not had a team working on it yet. Also that budget won't get you the experienced people needed to make your project except freelancers who lie their skills or just scamlancers.

Interested. PM me.

Hi my name is Josh Parkin, I am 16 years old and have a huge interest in Bitcoin. Around a year ago I came up with the idea for a Bitcoin Lottery for the main public body (tech free) done properly, a lottery that doesnt look like it was slapped together in 10 minutes (as most of them do). Since then I have been to a few Hackathons and Co-Founder events and developed some very strong contacts along with some very detailed plans of how the Bitcoin lottery would work and how the code would be written. I also have some sketches of what the website may look like. All this can be found below. So what am I looking for? Well I need a Co-Founder, Bitcoin being a very new and up and coming technology has led to me finding that all the contacts I have made, have their own ventures. I hope to find someone of a similar age to me with a similar enthusiasm and interest who may want to pursue this idea with me, it is crucial they are of a similar age to me as I can relate to them and interact with them more easily. If you yourself are interested or may know of someone please message me! Thanks!

Email: [email protected]

Some of my progress so far below:

https://docs.google.com/document/d/1TiNs-S5ZOuBjFf0GH8koPoe3BhKCgnFGuyNG0IR1VK4/edit?usp=sharing

https://docs.google.com/presentation/d/1LokFpp2GlyyZFWCirB8_7IQO5TIysT2RYp8jbO6rffM/edit?usp=sharing