Question/Poll - Will you invest 0.01 BTC to win 100 BTC?

gabmen

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Quote from: stayeduptolate on February 03, 2018, 02:07:05 PM

Quote from: basu77 on January 10, 2018, 08:17:27 AM

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost 0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

I won't invest 0.01btc in order to win 100 btc as it's a huge risk and also the house is the one that's making the profit here of about 10btc per round as 15k tickets are being sold.
And the chance of winning the lottery is pretty low as compared to the risk taken by the bettors.
So I think it's best to avoid these kind of games where the major share is won by a single entity as it can also be one of the addresses of the company itself and the bettors can easily be scammed.

Well if i'm really a gambler then yeah. .01 is a small price to pay if there's even a small chance to win 100 btc. The odds aren't that attractive since your chances are 1 in 15000, but its considerably higher than lottery games with the price pretty much the same. Problem is i'm not a gambler :p

stayeduptolate

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Quote from: basu77 on January 10, 2018, 08:17:27 AM

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost 0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

I won't invest 0.01btc in order to win 100 btc as it's a huge risk and also the house is the one that's making the profit here of about 10btc per round as 15k tickets are being sold.
And the chance of winning the lottery is pretty low as compared to the risk taken by the bettors.
So I think it's best to avoid these kind of games where the major share is won by a single entity as it can also be one of the addresses of the company itself and the bettors can easily be scammed.

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legendary

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I have no luck in gambler moreover lottery !
Yes, the prize is huge if we compare with current value ( Feb 2018 ) but it's difficult to gather people's interest except lowering minimal amount to invest

noormcs5

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Quote from: basu77 on January 10, 2018, 08:17:27 AM

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost 0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

Firstly I am not interesting on it, Actually i am not lucky and i know it deeply that's why i can't win 1st price of 100 BTC. But i will appreciate you becasue it is a good idea but problem is that people want to trust then may be they will interest on it. Also i want to ask you it is your idea or you are making this lottery system?

krishnaverma

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Quote from: basu77 on January 10, 2018, 08:17:27 AM

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost 0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

There is very less probability of winning with 15000 participants, so I will pass. However, you can get these number of participants provided you promote your website nicely. Most of the users go with trusted and reliable websites for betting purpose only so you can start with smaller amounts to gain trust of users.

Hhampuz

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Meh.

Quote from: clarkgeneral86 on February 01, 2018, 09:44:45 AM

I won't invest 0.01 BTC to win 100 BTC, i do not see any possibility of winning in this case. It is only a dream and the ability to scam very high.

And what if it would all be 100% safe and secure? I mean in a lottery there's less chance of hitting the jackpot so even if you bet 0.01 and have a 1/15000 chance to win your odds are "decent" Cheesy

.

The only thing would be to make it completely safe so that players feel confident if they want to try it out. I'm just wondering what would happen if the 15,000 tickets would not be sold etc.

clarkgeneral86

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I won't invest 0.01 BTC to win 100 BTC, i do not see any possibility of winning in this case. It is only a dream and the ability to scam very high.

Barcode_

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The participation cost of 0.01 bitcoin to enter into the lottery is too high, and besides how do you ensure that your lottery draw is provably fair in the first place? And who will be the escrow for the funds to payout the winner? Frankly speaking, I would deem this type of lottery games suggested by new members who just register on this forum to be highly suspicious of scamming other users money.

lienfaye

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Quote from: glowing10 on February 01, 2018, 01:42:45 AM

Quote from: ?? on ??

Investing 0.1 in your own busniss and try to earn 100 btc is a dream and if you invest in someone else busniss and risk them is not a good idea you need to work with your own money not give them and risk for a scam

Their is no point when you know winner would be just 1 and not many and out of thousand of entry if you see % it is negligible . Hence probability of you winning is not much to risk those 0.1 btc. Instead I am sure if I invest now this in some coins as market is down I would get much better returns and can easily double in coming month mostly.

Thats right its not worthy to risk your money in lotteries with a bit chance for you to win. For sure 99.9% you wont be selected to those winners and just like what you have said it would be better to invest in coins that is in dips now or in promising ICO's that are likely to succeed rather than risk your money for nothing. Investing is more realistic and has a possibilites of good return.

boyptc

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Quote from: basu77 on January 10, 2018, 08:17:27 AM

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

I want to have 100 BTC but to be idealistic I don't think that there's a possible way of doing this on an instant basis. Its going to be a long way before you'll make even 1 BTC with 0.01 BTC. And I'm not going to join into something that I have no assurance or just a little bit of chance that I would be earning that much.

Quote from: Hhampuz on January 31, 2018, 11:33:42 AM

I'd do it for that amount Cheesy

.

I bet it he won't do it with your suggested amount. Cheesy

glowing10

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Quote from: ?? on ??

Investing 0.1 in your own busniss and try to earn 100 btc is a dream and if you invest in someone else busniss and risk them is not a good idea you need to work with your own money not give them and risk for a scam

Their is no point when you know winner would be just 1 and not many and out of thousand of entry if you see % it is negligible . Hence probability of you winning is not much to risk those 0.1 btc. Instead I am sure if I invest now this in some coins as market is down I would get much better returns and can easily double in coming month mostly.

mrcash02

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Personally I wouldn't, the chances are too low for the amount I would have to "invest".

Quote from: Oilacris on January 31, 2018, 11:31:25 AM

ICO investment would be a better choice and be more worth of on our satoshis than on trying out this lottery game. Chances on making profit on ICO investments would be consider as 50-50% chances knowing that there is only 2 ways where do prices go either a pump or dump which we can able to witness this thing on short period of time unlike on what op is proposing there 15,000 participants and filling it out before making a draw would really takes forever.

Yes, even not being an ICO's fan, it would be much better than lottery. At least in case of loss it wouldn't be total like in lottery and other gambling games. Lotteries are very common too, almost every country must have this, even on those countries where gambling is forbidden there is lottery (and much cheaper than 0.01 BTC to buy a ticket...). ICOs have more chance to success, on the virtual world there are more people looking for this than for lotteries.

Hhampuz

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Meh.

I think that you could definitely get people in to this and I have no doubt that you'd be able to fill the entire thing.. however for you to take out 10 BTC as your cut is a bit excessive.. $100k for hosting a lottery? That'll be a hard selling point. In all honesty I'd say that you can take 0.1 BTC or something and that's a decent profit just to host this thing.. I'd do it for that amount Cheesy

.

Oilacris

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Quote from: rickadone on January 31, 2018, 06:47:48 AM

Quote from: Caladonian on January 31, 2018, 12:17:53 AM

Personally I won't participate, instead of playing lottery I will invest that into trading even in a small start chances to earn will be much better, and with the flow of your business I guess you should use gamble and not to invest, as investment have some much bigger assurance to earn and not just risking your hard earn money.

I too hate lotteries. Even OP is offering for 100 satoshi, I believe I will not prefer to participate in any kind of lotteries as I do not believe into making of easy money. Yes, basically I do not depend on my luck factor to favor me for any financial help. I learned this fact from gambling in a hard way. So, getting back to the same beginning point after many hassles will not be giving any meaning for my hard work.

Instead of testing my luck with lotteries, I would definitely prefer to invest into any promising ICOs. Because, there I am confident that I will be making some returns for my investment. I am capable of finding good project so why not trying ?

ICO investment would be a better choice and be more worth of on our satoshis than on trying out this lottery game. Chances on making profit on ICO investments would be consider as 50-50% chances knowing that there is only 2 ways where do prices go either a pump or dump which we can able to witness this thing on short period of time unlike on what op is proposing there 15,000 participants and filling it out before making a draw would really takes forever.

silvester4

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Quote from: basu77 on January 10, 2018, 08:17:27 AM

Guys I'm working something, which I will definitely share with the community soon.

I've a very simple question to all traders and Bitcoin enthusiasts.

Would you be interested in taking part in a lottery where you can win 100 Bitcoins by investing 0.01 BTC?

Basic rules are as follows: Participation cost 0.01 BTC, 15,000 participants.. 1 winner gets 100 Bitcoins, 20 Runner up winners get 2 Bitcoins each.

I'm working on a similar concept - wanted some thoughts from you folks before I take it any further..

So will you invest 0.01 BTC to win 100 BTC? Yes or No and why...

It's a nice idea to have when you (yeah you, OP) want to make a quick buck. For everyone else, it makes no sense. Let me give you an example:

If i will buy everyone of the 15000 Tickets, i paid 150 BTC. I will only get 140 BTC back from the lottery, so i lost 10 BTC (your profit). People could just gamble to have an even better chance of winning something.

My advise: Increase the amount of tickets, decrease the price drastically - maybe 10000 Sats each. Also, it's not neccessary to have such a big jackpot. What about 1 BTC for the first place and lower prizes for 99 additional participants?
People have a "higher chance to win" (at least it looks like this to them) and the price for participating is low. Everyone can afford to lose 10000 Sats.

rickadone

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Quote from: Caladonian on January 31, 2018, 12:17:53 AM

Personally I won't participate, instead of playing lottery I will invest that into trading even in a small start chances to earn will be much better, and with the flow of your business I guess you should use gamble and not to invest, as investment have some much bigger assurance to earn and not just risking your hard earn money.

I too hate lotteries. Even OP is offering for 100 satoshi, I believe I will not prefer to participate in any kind of lotteries as I do not believe into making of easy money. Yes, basically I do not depend on my luck factor to favor me for any financial help. I learned this fact from gambling in a hard way. So, getting back to the same beginning point after many hassles will not be giving any meaning for my hard work.

Instead of testing my luck with lotteries, I would definitely prefer to invest into any promising ICOs. Because, there I am confident that I will be making some returns for my investment. I am capable of finding good project so why not trying ?

Compa

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0,01 btc to win 100 btc is seems impossible to get it
I am not sure to participate in lottery like this, I do not think it makes sense at the moment.

Caladonian

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Personally I won't participate, instead of playing lottery I will invest that into trading even in a small start chances to earn will be much better, and with the flow of your business I guess you should use gamble and not to invest, as investment have some much bigger assurance to earn and not just risking your hard earn money.

Lionidas

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This would be known as a raffle.
Since you are basically giving out tickets to a select few who are in essence "donating" to a pot where the winners will be the only ones to win anything.
There are government funded and run lottery organizations for this already.
Nothing new what you are saying you are "working on something". Embarrassed

Bitinity

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I'm sure it wont work, no one will invest on your lottery. It will take too many years to get all the slots filled, how could you expect to get 15,000 users while in fact it will be very hard to get 100 users? Even if you will use very trusted escrow, I doubt your plan will run as what you expect.
I know this is your plan to make profit for yourself as by calculation you will get 10btc if 15,000 slots filled but to be honest you better to have other ideas instead of lottery.

Topic: Question/Poll - Will you invest 0.01 BTC to win 100 BTC? (Read 529 times)