Topic: Question/Poll - Will you invest 0.01 BTC to win 100 BTC? - page 3. (Read 529 times)

Even if it was a reputable site which runs such lotteries regularly I wouldn't invest 0.01 BTC in order to have a chance to win 100 BTC because the chances are slim and 0.01 BTC is not an amount I can easily afford to lose, let alone betting on an unknown site.

There are millions of people who would happily run the kind of lottery you've mentioned, but they can't do that for one simple reason: no one would participate in the lottery unless it were very famous one. It takes millions of USD invested in advertising to make something famous these days, just posting about it on a forum, even a reputable one like bitcointalk, is definitely not enough.

This isn't a concept, this isn't a gambling, this is lottery for old people who find it easier to play lottery then some other gambling game. And what is with this 0.01 btc, that is more then 100 dollars for lottery? Are you crazy? Who would give so much money for simple lottery, for me this is just one stupid way for some scamer to make some money. If you wish to play lottery go to crypto games and there you can play trusted lottery and win some real money, don't risk your money with any site that some newbie wish to make, I don't trust him at all, this easy schemes for making fast money aren't real.

If I have a lot of cash I would as I won't mind of I only lose .01 BTC. But if I am short on money and I am expecting to be one of those lucky winners I wouldn't waste my money onto it as out of the 15,000 participants only 21 will win. Also it worries me about these kinds of games as they have no transparency we wouldn't have any proof if those 21 people really won something.

Nice concept but the probability of one win is too narrow. 0.01btc to win 100btc maybe what one need to do is putting in the money or coin and close your eye for what will happen and take whatever will happen. lottery is a modified gambling and you need to have strong mind to be able to make it.

Please don't give any money, but do me a favour and read the comments before posting..

nope, i don't know you and i will not give my money on unreputable person

It is possible through hardwork, many already proves that they are able to be a millionaire thru bitcoin but not in lottery way or in gambling, it's too much risky, having faith and believing while doing our works properly can help us to achieve it, a good and honest will do, we don't really need to go thru shortcuts, but if life will take us into it then be grateful.

I wont definitely join up or put even 0.01 on that lottery based games. 0.01 btc is way too high for a single ticket and comes worst you are expecting to have a 15,000 participant which is impossible even reaching out 50 participants would really be hard already since interest on lottery based games isnt really that high on this bitcoin world. Not only that basing on calculation you do earn 10 btc on each draw which is on 6.75%.

I won't because it'll take time to fill all the entries/tickets for the lottery. What if there's only less than a thousand people that are interested to join the lottery would you continue it ? Also the cut are high there are other lotteries I know that doesn't have any edge. If you're really serious with this you might want to add some alternatives like altcoins because of bitcoin's miner fee.

Yes I will try all way how to get rich. Because l beleive that that there is a way for me too to be a part of bitcoin as a millionaire. I will search how to do it so that I will prove to be proud at bitcoin that one of this days leg a millionaire already to bitcoon
.All things are possible with God, He is my hope to get all this opportunity to be be rich. Thanks bitcoin you change my life.

Thanks @harizen, much appreciated. Yes even I feel 0.01 BTC quite a bit of amount.

Lottery entry in the first place should be that cheap* no matter how big the reward is. Id rather participate in national lottery where my BTC0.00003 can win around BTC80-100 and winning chances is the same as yours. BTC0.01 nowadays is already a decent price and I can diversify it to my preferred gambling type rather than risking it a lottery where there is low chance to win, same with other lotteries. Maybe I will considered if the entry amount will lowered.

You can't make lots of people to joined the lottery with that kind of entry amount and the idea is about "lottery".


That is not an investment.

Why do you guys keep assuming I would personally do it.. and that's the only option - if one is a newbie in this forum there's no chance to do well in the crypto industry. You mean to say each and every ICO founder or a [Suspicious link removed]pany founder is in this forum building their reputation...

I don't buy into that.. being newbie on this forum has nothing to do with launching a Lotto via a website through strong partnerships with industry leaders. Having good reputation in this forum could be helpful, but not a deal breaker by any stretch.

I make note of your point about finding 15,000 players - I agree this could be ambitious to achieve, but the whole rant about being Newbie.. trust is being easily solved through partnerships. Case in point > 99% of the ICOs who are raising significant sums without an active product and in most cases a MVP or anything.. just based on Roadmaps, Whitepaper and a Team.

No, idea is not really new, it is lottery with expensive ticket.. I'll rather pay 2€ for eurojackpot.
Not to mention that you won't find 15000 players which are willing to spend 130-140$ on ticket.
Another thing - you are newbie, you will have to use escrow, provide fairness of draw etc. Things are just too complicated.

Sounds not that bad but 0.01 Btc is not small how it looks like to be. After the surge in pricinh of bitcoins, even 0.01 is allot and this may restrict users to get enrolled for something like this. Also partivipants or potential participants should be provided with enough trust that nothing wrong is going to happen with  their btc.

You can rather provide a proto-type or small similar layout as a demo so that it generates trust among possible participants. Well this is quite similar to gambling so people will definetely be attracted.

Much appreciated.. see it doesn't hurt to share some constructive thoughts.

Well, at this point.. it is just an idea - nothing done yet.. no website or anything yet.. just wanted to see what others thought of it. As a casual observer of how people are investing and trading currencies, this would be another avenue for people to try their luck. How bad can it be - eventually one guy does get 100 Bitcoins.

Most of you guys own gambling businesses yourself, why don't you give this idea some thoughts.. you've the reputation and technology it seems, and I can assure the amount of media coverage you'll get iff done right will anyway boost your business 100 fold even if you don't make any money from this lotto itself.

I'm still analysing the pros, cons and the costs involved - will probably partner with a few of you from this forum and go ahead.. as the idea is not just a jackpot but much much deeper than that. and it sure as hell not a scam.. else I wouldn't be using my own identity or even discussing it on a forum.

I just feel, a 100BTC jackpot could drive huge traffic and we can easily get people to participate as tens of thousands of people are already invested in the market and thousands joining daily. There will be 20-30 winners with one of them winning 100 BTC.. I don't see any downside.. expect for all the negative ramblings of people scamming and stuff.

Frankly I don't even wish to make money from the jackpot itself, all the collections can to the winners - the traffic itself will pay for all the effort.

No one has done a 100 BTC jackpot yet... or have they?

I'm going to take a neutral stand, unless this all are clarified. What's the site name that will handle it. What method will you use, and please don't say random generator. There has to be a good script for this. No one will do it, unless the fund's aren't escrowed, who'll pay the escrow fee, and 15000 people that makes it a scam, I would recommend 150 people and reduce. You'll need a legendary member backing you. Till then neither do I say a yes or no.

First of all in order for you to get participants in your lottery you need to have a good credential or you on the other hand is quite eligible to be trusted with that amount of money.

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There are many scammers out in the internet and no one is in exception to that, everything and everyone from your behalf must be verified first for you to be able get into that kind of lottery business.

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People over the internet are smart enough to tell weather a site is a scam or if the game that a person is playing has a too good to be true winning bet.

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Would i bet and play at your site the answer is NO, i would rather play at our local lottery station which i know the odds of being scam is 0% while yours has 100%.

If all deposits are accounted for, it doesn't really matter if there are 14000 'fake' entries by the owner, as long as the coins are put in the pot so to speak....
People are able to buy more than one ticket, even if one person owns 14000 tickets, they can still lose.

If he can make the draw provably fair, I don't see any problem with a lottery like this.

I know the value of 0.01 BTC and to gamble in a lottery the winning amount is said to 100 btc it means you will need  to have the investment form all the players of more than 100 BTC then only they can give you 100 (in case if they give) and remaining would be their profits. So higher chances is that after collecting it will be shut and I would not gamble when chances of my losing is 99.99%