Topic: Lucky coin Idea - page 20. (Read 33987 times)

If many people dont redeem, and those that do redeem dont find the 1 BTC ... how will we track how many have been redeeemed and how many are still left to redeem, to gauge the value of each of the potential winning coins. How will we know if we have a 1 in 10, 1 in 8, 1 in 5, or even 1 in 1 chance ? How will we know when there is zero chance ? In a week ? a month ? a year ? a decade ? ... we wont, this can only be tracked by having an open list of full addresses, and we already know who has which of those (we just dont have the full addresses to be able to look)

For transparency .... doesnt it need to be seen that someone has won the 1 BTC. I am not questioning gravitates integrity, I have known him way way to long to do that, but .... without this he is open to a cheap shot from anyone who redeems and then only has the 0.01

Personally, I didnt buy the Lucky 1 series coin to redeem it. BUT I would be interested to know what it holds. This is still a lottery / lucky coin. Right now, we all feel we have a 1 / 10 chance to have won. But the winner has already been decided, the 'draw' has already taken place. The value of the funds on your coin is the same whether you know the value, or dont know the value.

It seems a real shame to have to destroy between 1 and 10 coins to find out who the winner is. Many have indicated that they wont be redeeming. Unless it is revealed by Gravitate, we may never know.

Ha ha yeah I never win anything so I'll tell myself it has 0.01 rather that 1BTC because it'll probably be true .

And then we come back to the point where it would destroy the purpose of this coin .

I doubt gravitate will tell anyone. Either redeem your coin or keep telling yourself that you have the 1 btc coin .

I hope Gravitate doesn't do that  ... takes away the excitement. If he does it should pulbic in the thread so everybody knows.

Perhaps gravitate will tell anyone that asks whats on their coin.

I wont redeem it either way will just be nice to know whats on there .

Yes

So right now only one person knows which coin is really the winner of each round and that would be gravitate right?

Well, that is the fun part of this Lucky Coin, to redeem or not redeem? I you don't redeem you don't the BTC value of the coin, if others do redeem then you know what chance you have owning the 1BTC coin. I think this very exciting every round. And what will the collectors value do of redeemed and unredeemed coins, it all depends how many coins are redeemed and if the 1BTC will be redeemed and the owner makes it public.

It would give you a very limited edition coin. Only 10 made per batch. If people start redeeming them they become even more rare.

I guess what I really meant was not made public and not made privately available either.

Now that I understand more about this as well it seems the coins would retain more of their value without anyone knowing.

If the winner is revealed publicly or privately then everyone else's coin plummets in value.

That takes away the whole point of this coin . The cool thing is that the coins will rise in value when people redeem their coins (if the value is 0.01 btc).

I suppose you're right, perhaps not made public.

Maybe I misunderstood and this was the plan all along.

It wouldn't be the first time I've made a mistake .

I was wondering how anyone would know which was the winning coin and I kinda like the idea it would have to be opened to find out and hope there is not a public winners list put out.

I thought the result would be made public or at very least the coin buyers know what's on their individual coin.

Personally I'd prefer to know what is has on without having to redeem it.

Same here.  Even if I knew beforehand I was the winner, I wouldn't redeem it.  I thought it would be publicly made after all the coins were sent out who was the recipient of the winning coin.  If nobody redeems, then nobody will ever know if they have a winner.  As a collector, I'd rather keep the coin intact.

Minerjones got me confused :grin:. I won't be redeeming mine anytime soon!

Yes. So far thats the only way.

The winner can only be determined by redeeming the private key right?

I've got 1.1 but not received it yet.

You guys could just boot off a USB. Use unetbootin to write to a flash drive, then when you go to boot your computer go into BIOS and change boot to your flash drive. Then just run your computer and do work normally.

I would say run vmware player, but I don't believe you can transfer the key, but that would be by hand.