Yeah, Dooglus is correct. Tomorrow I'll update the homepage to make things a lot clearer about the early bird bonus pool.
The results of draw #2 are in:
https://www.pevpot.com/draws/2
The tentative winner 16.52418779 BTC is from 62008f827880930fce02a7d31d71fe7380ec9b5c86160d039bd96dd1d6a21fa2 ( sending 5.555555 BTC )
Topic: Introducing PevPot.com The Bitcoin Lottery - page 10. (Read 12236 times)
Hi,
when will be the results published?
Also, can you explain the "Early bird bonus pool" a little bit more? Is this something new?
when will be the results published?
Also, can you explain the "Early bird bonus pool" a little bit more? Is this something new?
I can explain:
if you bet right at the start of the lottery, you get the full bonus pool if you win.
if you bet half way through, you get half of it
if you bet right at the end, you get none of it
It goes down linearly. If you bet X% of the way through, you get (100-X)% of it.
Hi,
when will be the results published?
Also, can you explain the "Early bird bonus pool" a little bit more? Is this something new?
when will be the results published?
Also, can you explain the "Early bird bonus pool" a little bit more? Is this something new?
Just want to make sure I get it right: If I want to get all 90% of the sponsorship in draw 3, my bet transaction has to be confirmed in 385001 but not 385000 (in which my bet will go to draw 2), right?
Yup. If you hit 385000 you'll be in the previous draw.
I take it this: https://www.blocktrail.com/BTC/tx/fe0950ba460a14466b2d7fa928c7fba856e502f3eebfd5ad94996c0ee08ad860?txoutIdx=0 is yours? (cutting it close, lets see if it makes it in)
Okay, thanks for the confirmation.
Nope that bet is not mine. I wish I am rich enough to be able to casually spend 10 btc on a bet like that lol.
Just want to make sure I get it right: If I want to get all 90% of the sponsorship in draw 3, my bet transaction has to be confirmed in 385001 but not 385000 (in which my bet will go to draw 2), right?
Yup. If you hit 385000 you'll be draw #2. (where you'll also get 90% of the sponsorship of draw #2). But if it lands on 385001 you'll qualify for 90% of the sponsorship of draw #3
I take it this: https://www.blocktrail.com/BTC/tx/fe0950ba460a14466b2d7fa928c7fba856e502f3eebfd5ad94996c0ee08ad860?txoutIdx=0 is yours? (cutting it close, I must say)
Just want to make sure I get it right: If I want to get all 90% of the sponsorship in draw 3, my bet transaction has to be confirmed in 385001 but not 385000 (in which my bet will go to draw 2), right?
Only 6 blocks to go! Get your tickets in!
And remember, STARTING FROM NEXT DRAW (#3)
10% of sponsorship money goes to me (commission), and the remaining 90% goes to the: "Early bird bonus pool".
When someone wins the lotto, we get the block-height of their transaction and figure out:
You get this fraction of "Early bird bonus pool". What ever is left over, will be carried to the next months early bird bonus pool.
(Or in short: You'll be rewarded more for buying tickets early)
[Note: the 10% commission is only charged on sponsorship money, not players tickets. So you always win at least the sum of all lottery tickets)
And remember, STARTING FROM NEXT DRAW (#3)
10% of sponsorship money goes to me (commission), and the remaining 90% goes to the: "Early bird bonus pool".
When someone wins the lotto, we get the block-height of their transaction and figure out:
Code:
(1000 - BLOCKS_SINCE_STARTING)/1000
You get this fraction of "Early bird bonus pool". What ever is left over, will be carried to the next months early bird bonus pool.
(Or in short: You'll be rewarded more for buying tickets early)
[Note: the 10% commission is only charged on sponsorship money, not players tickets. So you always win at least the sum of all lottery tickets)
Also, can I mine into my personal lotto address?
BTW if you pay with the coinbase from a fresh block, it should work but won't be pretty. The earliest that coinbase coins can be moved is after 100 blocks (due to coinbase restrictions), but my code won't handle it perfectly. My code is unaware of this bitcoin restriction will actually fail to send it, and start doing an exponential back off, so by the time it sends it to the lotto address will be likely hours after the 100 block restriction expires. If you're planning on mining direct into a forwarding address, let me know and I'll better support the whole thing.
I guess he isn't really mining to the address, but withdrawing from a mining pool to that address, in which case it would work fine anyway.
But maybe he's using p2pool or something that actually pays out coinbase coins.
Also, can I mine into my personal lotto address?
BTW if you pay with the coinbase from a fresh block, it should work but won't be pretty. The earliest that coinbase coins can be moved is after 100 blocks (due to coinbase restrictions), but my code won't handle it perfectly. My code is unaware of this bitcoin restriction will actually fail to send it, and start doing an exponential back off, so by the time it sends it to the lotto address will be likely hours after the 100 block restriction expires. If you're planning on mining direct into a forwarding address, let me know and I'll better support the whole thing.
Typo: "Strech the block hash"
Thanks
Quote
Also, the block hash isn't automatically filled in in the stretching tool, even after I have fetched it. I have to copy/paste it, which seems like a step that could be automated.
That's kind of intentional, as I was planning on adding a "Do everything" button.
Quote
And it would be nice if there was some kind of progress indicator while stretching, so I know how far through it is.
Agreed, although that would require me to modify the PBKDF2 function to expose some progress events, which makes it more difficult to people to see I'm using an unmodified/fair library
If I specify my lotto payout address will it pay automatically without me having to sign? Also, can I mine into my personal lotto address?
Correct, and yes
https://www.pevpot.com/verify
I've made an in-browser verification tool! It has the benefit of using completely different libraries, and data source than I actually use.
I've made an in-browser verification tool! It has the benefit of using completely different libraries, and data source than I actually use.
Typo: "Strech the block hash"
Also, the block hash isn't automatically filled in in the stretching tool, even after I have fetched it. I have to copy/paste it, which seems like a step that could be automated.
And it would be nice if there was some kind of progress indicator while stretching, so I know how far through it is.
If I specify my lotto payout address will it pay automatically without me having to sign? Also, can I mine into my personal lotto address?
https://www.pevpot.com/verify
I've made an in-browser verification tool! It has the benefit of using completely different libraries, and data source than I actually use. So it's a nice way to cross-check the results.
(Technical note: Step 1 of the verification tool is a little fragile, because it uses the bitpay insight API to get transactions, but the API doesn't say the block-height of the transaction, but how many confirmations it has. So I get the current block-height, and subtract from it. But if there's a block confirmation during the fetching step, it could give wrong results. I plan to switch to blockcypher API when they fix missing-data bug that they confirmed exists)
I've made an in-browser verification tool! It has the benefit of using completely different libraries, and data source than I actually use. So it's a nice way to cross-check the results.
(Technical note: Step 1 of the verification tool is a little fragile, because it uses the bitpay insight API to get transactions, but the API doesn't say the block-height of the transaction, but how many confirmations it has. So I get the current block-height, and subtract from it. But if there's a block confirmation during the fetching step, it could give wrong results. I plan to switch to blockcypher API when they fix missing-data bug that they confirmed exists)
In theory it sounds good and I hope it will be good.
Alternative result: the "EV+ betters" find it too risky to bet at start and it's not EV+ anymore to bet in the end > resulting in an "even" lower prize.
But let's hope it works out
Alternative result: the "EV+ betters" find it too risky to bet at start and it's not EV+ anymore to bet in the end > resulting in an "even" lower prize.
But let's hope it works out
lol @ the fact that you put a donald trump quote on the bottom of the site.
It was a close toss up between that and George Bernard Shaw's "The many must lose in order that the few may win"
Just to be clear, this scales the sponsorship from 100% down to 0% over the 1000 blocks, instead of the 100% -> 50% you originally proposed.
Is that what you intended?
Is that what you intended?
Yup, although it has the undesirable aspect of the final block being EV0. I think it's worthwhile though, as from talking to people it seems the appeal of a large-pot is much more than the appeal of a small amount of EV (when the probability of winning is so low). I've talked to a few people who have said that the pot as it is just too small to get excited about. So by scaling it harder, it should mean the +EV hunters will want to bet much earlier, filling the pot up for the more recreational players. =)
When someone wins the lotto, we get the block-height of their transaction and figure out:
You get this fraction of "Early bird bonus pool". What ever is left over, will be carried to the next months early bird bonus pool.
Code:
(1000 - BLOCKS_SINCE_STARTING)/1000
You get this fraction of "Early bird bonus pool". What ever is left over, will be carried to the next months early bird bonus pool.
Just to be clear, this scales the sponsorship from 100% down to 0% over the 1000 blocks, instead of the 100% -> 50% you originally proposed.
Is that what you intended?
lol @ the fact that you put a donald trump quote on the bottom of the site.
Love the idea in general though, seems innovative.
Love the idea in general though, seems innovative.
^ Good idea, thanks. I've talked to a few people and this is how it'll work for draw #3
STARTING FROM NEXT DRAW (#3)
10% of sponsorship money goes to me (commission), and the remaining 90% goes to the: "Early bird bonus pool".
When someone wins the lotto, we get the block-height of their transaction and figure out:
You get this fraction of "Early bird bonus pool". What ever is left over, will be carried to the next months early bird bonus pool.
(Or in short: You'll be rewarded more for buying tickets early)
[Note: the 10% comission is only charged on sponsorship money, not players tickets. So you always win at least the sum of all lottery tickets)
STARTING FROM NEXT DRAW (#3)
10% of sponsorship money goes to me (commission), and the remaining 90% goes to the: "Early bird bonus pool".
When someone wins the lotto, we get the block-height of their transaction and figure out:
Code:
(1000 - BLOCKS_SINCE_STARTING)/1000
You get this fraction of "Early bird bonus pool". What ever is left over, will be carried to the next months early bird bonus pool.
(Or in short: You'll be rewarded more for buying tickets early)
[Note: the 10% comission is only charged on sponsorship money, not players tickets. So you always win at least the sum of all lottery tickets)
I think that boosting JD's sponsorship on pevpot is the least I can do - please sponsor some draws with this https://blockchain.info/tx-index/bed2c062bd9fff2b453cb76189ad024e47fea29d0deb5134039a6ba7a5603313.
Thanks very much! I wasn't expecting to see any of that back again.
I'll use it to fund JD ads over the coming weeks.
So one thing I've been thinking about, is how to incentivize people to play at the start of the draw (as opposed the last couple of blocks).
One ideas I've had:
a) The winner gets the total amount sent to the lotto, plus X of the sponsored amount. X is dependent on the block you buy your lottery tickets, and starts off at 100% and trends towards 50% by the end of the draw? So the earlier your buy in, the higher +EV it is (but the less known the EV) is. The later you play, the lower the EV is but the more known it is. (But regardless of when you play, it's still +EV)
b) The winner is paid 50% in BTC and 50% in next-draws lottery tickets. This would make the pot start with a nice healthy amount right from the start, hopefully attracting more players. Players would be eligible to win multiple times in a row of course. (Although it seems a little shitty to me, to pay lottery winners in lottery tickets)
Or maybe I'm over thinking it, and last-minute play isn't a problem? I just have this impression that the bigger the pot, the more attractive it is for most lottery-ticket buyers to participate.
What are your thoughts?
One ideas I've had:
a) The winner gets the total amount sent to the lotto, plus X of the sponsored amount. X is dependent on the block you buy your lottery tickets, and starts off at 100% and trends towards 50% by the end of the draw? So the earlier your buy in, the higher +EV it is (but the less known the EV) is. The later you play, the lower the EV is but the more known it is. (But regardless of when you play, it's still +EV)
b) The winner is paid 50% in BTC and 50% in next-draws lottery tickets. This would make the pot start with a nice healthy amount right from the start, hopefully attracting more players. Players would be eligible to win multiple times in a row of course. (Although it seems a little shitty to me, to pay lottery winners in lottery tickets)
Or maybe I'm over thinking it, and last-minute play isn't a problem? I just have this impression that the bigger the pot, the more attractive it is for most lottery-ticket buyers to participate.
What are your thoughts?
I agree that it's best to encourage people to play early, to grow the pot early, to make it more attractive for others.
I don't think it's OK to pay lottery winnings in lottery tickets.
I like the first idea. I think you should take your 10% off the top first, and split the remaining 90% like you stated, with the left over sponsorship money (0% to 50% of the remaining 90%) going into next week's sponsorship pot.
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