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

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

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.

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

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?

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.

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" .

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.

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.

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.

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.

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.

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

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.

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


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.

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 .

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.

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.

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 ?

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.

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.

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".

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.

I think this is too suspicious because the prizes are too big for us if we can be a winner and the second winner is only get 2 btc. since the bitcoin price now is too expensive, this will attract many people to try this lottery and if they don't know anything, they will getting scam by doing this. so I think it is better to be careful when you want to join in this lottery and think twice before you make a decision although 0.01 btc is not much, your chances to be a winner is small.

No one is going to invest 0.01BTC

Investment means something you'll earn by compounding the capital+interest constantly.

It is a gambling not an investment, don't take any further action because the probability that the community will trust you is low than 2% but if you escrow the funds it will be 50%

If you have a script and if that script is open source anyone could verify that the winner of 100BTC will not be a rigged one. Then and only then I will invest in your lottery if I have extra 0.01BTC.

So basically i'll be investing 0.01 bitcoin which is equivalent to 140$ and is equivalent to a week's work of a normal job in my country to have a chance of 1/15000 to win a 100 btc which is less than the chance to win the lottery ..
This is not gambling at all , this is throwing money reinvented or just a scam !
We all agree that gambling has a binary output based on luck , but i don't think that the luck of all the humain beings will be enough to win this .

As always if all offers/rates/prizes are too good to be true then most likely of them are scams even if i have 15 btc or more in my own wallet then i wont really risk on this thing no matter what. basing on 0.01 investment it would really require lots of players which we do all know that lottery games doesnt really make a sound on this marketplace.

The idea is way more sophisticated than straight forward gambling of money, I guess you guys didn't read the entire thread ..

However if I do make the time and find the right partners to execute this, will definitely share with you guys.

Thanks for all your comments, definitely helpful.

They could say that they would want to gamble 15 Bitcoins with the chance of winning 100 but that is probably going to be a scam or something because no one right now would do that knowing that the price of Bitcoin is really high. Probably when it what's in the past where Bitcoin is cheaper.

That even means he wants 15 Bitcoins for the gamble since 1500 x 0,01=15, and i don't think even an individual with 15 bitcoins will ever want to gamble them for 100 bitcoins ever which makes this too risky and herculean of a task to canvas all these members.

Yeah no one will be ready to invest 0.01 btc randomly. If someone has a plan to go for it, they will choose any reputable casino to participate in a lottery. I personally am not interested in any such deal because this amount for me is unbearable to lose. I can't let my hard earned Bitcoin to rely on luck and that too between such a huge number of participants. I can go for a very minimum number of satochi, which could be no more than $20.

Gain trust from the community by holding a small lottery for couple of months is the good way you could take into consideration before making the bigger one. None will risk their money to the strangers.

As long as you do it with boldness. As long as you do it with no doubts. As long as you think you'll become satisfied if you already do it and as long as you have trust in your guts feelings that will become the winner. Go! And invest. That's like if you don't gamble you will not see greater things. Win or Lose you will go even whatever it takes. No matter what if your hearts tells you to do it, do it. Remember, lose or win atleast you try your best. And always remember that if you are lucky enough, you can win it.

The idea itself are to hold a lottery with huge amount of money as a  prize .
You can find a lot of lottery that offering you small amount to be placed but also with small prize.
The problem always about how the operator can be trusted? How the lottery could be a fair game for us? And this kind lottery popping up every year but noone can realize it.

Though It's quite encouraging to join a lottery like this but with the amount needed to invest is quite high for a regular earner users (Not to be cheap) just being realistic. If and only If, I'll invest if the money that'll put in is secured and have an insurance (not only for me but for other bettors also) that if we won, We could claim it without any hesitation and asap.

 Another concern, If you are to push through. You or your group must first gain the trust of your potential customers/client. To achieve that, would be your greatest challenge. Especially now that a lot of ponzis are scattered all over the internet just to scam people, adding the fact that you are asking an higher amount to start with.

Someone like me would not do something like this as it is not different from playing a lotto where you get to buy a ticket for ridiculous amount and expecting to win big. It does not happen at all. The chances are to low for me to take because that would be 1/150000. I would rather give it a run where my chances are pretty higher and when I lose I am sure that I am in control.

Your services is one that would need a lot of trust to be won from members of the community because there is no one to guarantee that participants are not been cheated and 100btc for one person while the next twenty runner ups get 2 bitcoin each? I would prefer that the 100btc should be further broken down and if possible 10btc so the excess of the jackpot is further spread to other participants down to someone who will get .01btc with that you might get a fair amount of interested people.

The capital was too high for a very small chance of winning the jackpot price I suggest you better change the amount and instead offer a lower amount for investment then you can also lower the jackpot price so that many will have the chance of winnings. You can adopt the idea of some faucet sites who offers lottery they are still running now so it means their strategy was good enough

Great advice and I suggest to OP to do like Zackgeno96 said. If your prize will be 1 BTC instead of 100 BTC you can decrease the ticket price from 0.01 to 0.0001 which looks much more reasonable and affordable. But you shouldn't expect profits from your activity during the first couple of months. Even if you lose some money you should pay to the winners. Even if the number of participants isn't complete for the lottery to be profitable, make it happen at your own expense. Thus you can get attention of gamblers to your site and maybe in the future it will become a profitable business. Best of luck!

Yes convincing some 1500 people to invest 0.01 BTC each is not an easy job unlike it sounds. Lottery system is something now a days can be easily rigged out to make the owner itself as a winner hence I will not opt to invest 0.01 BTC for sure. Instead of trying my luck with OP, I will simply lock my BTC in clod storage.

Probably 100 BTC may sound as a dreamy goal for many people and only for them it may still remain as an attractions. Those who are all ready to lose 0.01 BTC then this type of gambling will not be a new thing.

It could be work but first you have to earn the trust of the community members. You can start with the small lottery like 1 or 5 btc, make proper payments to the winners, earn good reputation for your website and then slowly increase the winning amount and the required investment for the same. If you managed to pull out all the points then it could work. All the best.

0.01 btc to 100 btc? need 1500 participants to do that? i think its really hard. First think if new site will be hard to get too many loyal member because 0.01 isnt small amount now except you give free bet first "may be" we'll try. Then will be hard to get trust from member for new site, so to get 1500 members isnt easy. Also small chance to get prize make many people doubt to join.
But nothing is impossible if you make interesting concept promo etc, good luck with your project.

The chance to win 100btc sounds very appealing for relatively what appears to be a small stake to play.  However, this just doesn't make much sense to me in terms of the amount of 0.01btc (over $100) for a single entry to a game you have a small chance to win.  I would be very skeptical of such a game because it seems to me someone is trying to make a quick buck by offering such odds.

It's a worthy idea if you can execute it well enough that you can make people bet into it. But get the grand prize would be hard because of the chances. If you have somehow made a fortune with that, it's going to continue. But I don't know if people would participate NOW because the price of bitcoin is really high.

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%

Fair point about fake entries - I didn't consider this.

It is not just a lotto, I'm unable to fully disclose the idea - winning the 100 BTC jackpot is only an additional benefit to add to the excitement, but the actual collection of money is anyway happening for a reason that people are going to pay anyway which serves a real purpose.

So the investment/bet is not necessarily motivated towards winning the jackpot.


However since the Trust and security issues are brought u by almost everyone of you in this thread - I'm wondering how do I enforce the best security, transparency and trust. My thinking was, people/businesses pay to a given wallet for the service being rendered, at the end of it all - winners are randomly selected using a program and the corresponding winning stakes are sent to the winners. DONE. Am I missing something?

Or is their a Escrow service, where all the collections are directly deposited in real time for people to see and verify the Live bounty?

first of all this is a lottery and lotteries don't have that many people interested in them specially with such a high price for buying the "tickets" which is 130-150 USD based on bitcoin price at that moment. which means even less people will be interested in it.

secondly making a lottery to a provably fair thing is nearly impossible in my opinion. you can add a provably fair system and pick the winner in a fair fashion but that doesn't guarantee fairness of the lottery itself. you may have gotten 1000 players but had 14000 fake entries yourself (the total of 15000). nothing about such system is fair.

wow cool but i think 100 btc is to good to be true and many people including me are still starting to have a doubt on your lottery. as i can oftenly see most gambling site or any other gambling related sites dont usually put a high amount of bitcoin as their jackpot prize and some of them are  mostly set a  1 btc to 5btc jackpot prize only but overall gudluck to your new project and i hope that you got some nice traffic and costumers on your site.

i personally don't like to playing lottery because only people with super luck will won it but seeing at your concept seems every participant will only have the percentages less than 1% to won the lottery and that's quite heavy to me and my answer is no however if you're really serious about this as you're still newbie then putting bitcoin prize to escrow is necessary to ensure the winner get their prizes

Relax Steve, it is all a hypothesis still - just looking for some inputs from experienced folks like yourself.

Also let's say it is being conducted by a very trust worthy brand, then you think it will be worthy of participating? remember 1 Winner gets 100 BTC and 20 more gets 2 BTC each.

From a chances ratio, isn't this something worth betting on?

No one will participate this shitty lottery with your newbie account, 0 trust and no one knows you are. So why people will invest 0.01 bitcoin to an unknown person ? You can easily run away with the participant bitcoins, easy money huh ? No, i will not invest my bitcoins to you.

Regardless of your rank in the forum the website should be a trusted, I will never put any bitcoin on an unknown website.Also  I do not think betting .01 BTC (as of now $140) on one bet is attractive to gamblers specially on a lottery.

If you really want to succeed you need to build your brand first. Make us believe that you will not runaway with our Bitcoin.
You also need to let the bettors choose how much they would like to bet.

Yes 100 BTC is a lot of money but spending .01BTC with less than 1% chance of winning is not worth it.

That's a big pot seriously. I don't think that's very possible that you will come up to that number of participants, considering that you'll only place 0.01 BTC and win 100 BTC? I'm skeptic about this idea, you need to enlighten us more about the concept that's starting to circle on your mind.

I am all for making quick money but I really don’t think that with 0.01 BTC I will be able to make 100 BTC and it is very risky and you claim that it is rather a lottery rather than an invest even with a 50/50 chance of winning, I will still not try.

The concept itself is pretty interesting, I quite like the idea of a high stakes lottery, but only if a couple of conditions are met.
How would you make sure that you'd operate the lottery in such a way that it is provably fair and that you won't run away with the funds?

If this could be done via smart contract or through some kind of very trusted escrow, I would definitely be interested in participating in something like this.

I wouldn't do that . The lottery is a bad idea . Yes to win 100BTC well , but excitement is a bad thing

no, i wont do that, it is such a waste to invest our bitcoin into a lucky game, i would rather use that BTC to keep making btc rather than using it when i still poor, this is just a game for people who have nothing to do or having a lot of btc to play this game.

Sir, it is not real - it's a hypothetical scenario..

is it real? if it real then i think 100 btc got their members, if you see 100 btc then keep it in your dream, if it real, otherwise i think its fake.

You're InsurePal... extra caution and safety is expected of you. I'm talking about people with a little more appetite for fun..

You need to win trust, then there will be players.

Thanks for your input.. I needed such feedback only. Points noted. 

For me, I wouldn't even try to trust my money to a stranger unless you are really trusted. I will still prefer to play on dice with 9900x multiplier rather than playing lottery and wait for other people to fill that 150btc

Yes, something like that - but my question is , is it not enticing enough to invest $0.01 to win 100 BTC with appx 15,000 contestants participating.

I've not played much lottery, neither an active user of Bitcoin - but given the fact that everyone trading is looking for a big return and risking their money anyway, a contest like this if not anything could be a lot of fun and excitement.

Would you not try to win 100 BTC with a 1/15000 chances ?

I think this is crazy idea and no one will put that much money on stakes where the odds of winning are really really low. I mean in total only 21 winners from the 15000 participants. What do you think what can be done with that? I mean at least I know that I’m not lucky enough to put that much money and even get the 21st position to win that 2 BTC. Plus we would love to know how they gonna raise the money so surely and how they are securing our funds. I mean do we really get the security if we don’t reach the minimum participant cap. There are many things which needs to be assured first so that people will trust something like that. For me may be I won’t.

 

Only winner gets that, not everyone -

Yes, I will invest some BTC to try winning the lottery. But 0.01 BTC is not really a small amount that people are willing to pay for the lottery tickets. I think 0.001 BTC will be a better bet amount.

If you can make it provably fair and gain the community's trust it might work, but especially the latter is going to be rather hard. Especially given the amount of BTC and people you are trying to get involved.

In the end I could just try my luck with one of the established dice sites and have the same odds and potential winnings without the extra steps of a lottery.

It could work, this is how traditional lotteries works, doing the math:

0.01 btc * 15000 users = 150 btc .

So, the winner receives 100 btc,
20 guys get 2btc = 40 btc

100btc + 40btc = 140 btc .

I suppose that the 10 resting btc are your profit?, right

Is there anyone who can trust this, by investing 0.01btc will be able to get 100 BTC, if it is true whether this will use escrow

Am I totally nuts to think like this?

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...