Topic: Raffle for 0.01 BTC Provably Fair (Read 521 times)
[Reserved for updates to the raffle, if it's needed]
I'm just doing this for fun and to kill some time. There will be 11 tickets, each ticket will cost 0.001 BTC. First post that you are planning to buy and then update with your transaction details to save your spot.
Please send BTC to wallet address: 1Nw5JAAuSsq77YAJsPEt4FbBQByFDpLDyu
I have thought alot about things being provably fair and how to ensure that. I think I have come up with a good plan and here it is:
Provably Fair
A randomly generated 7 digit number is created using Random.org and an image is uploaded online. The number and the link are then hashed (using this form: 1234567_link) and the resulting hash is displayed at the bottom of the raffle for you to verify after the raffle has concluded. Each spot in the raffle is purchased and has a unique transaction ID. The first number in this transaction ID is used i.e. c5a93b86654df5c31d04e9465e8510be1445bf1822f727fe08c31bd17f3g81ca
is registered as 5. All transaction numbers are added together (5+x+x...) until a sum is reached and that number is multiplied by the random 7 digit number. That number is then divided by the total number of entrants into the raffle to choose the hash # that will be used in the next step. The number is divided by the total number of entrants as many times as needed until a suitable number is reached. All numbers are rounded to the nearest whole integer.
EXAMPLE: If the random number was 8349215, the transactions total was 27, and the total number of spots in the raffle are 11.
8349215*27=225428805 225428805/11=20493527.7273
That number then divided again and again by 11 eventually gives you 11.56... which would be round up to 12 meaning we would have to divide again to get 1.0516... meaning the first spot in the raffle will be chosen to provide the hash.
The last 10 digits of the hash will then be input at http://we.lovebitco.in/raffle.html with the correct number of entrants and the winner of the raffle will be chosen.
I think this fully satisfies me not having any idea what the outcome of this could be until after the last ticket is bought.
Hash: b3a55ee873731f6a36c29f20140ca3df95df66f7ca3fea6915b576f41b98734c
Good luck!
If raffle is not concluded within the next day I will refund all funds minus the transaction fee.
Please send BTC to wallet address: 1Nw5JAAuSsq77YAJsPEt4FbBQByFDpLDyu
I have thought alot about things being provably fair and how to ensure that. I think I have come up with a good plan and here it is:
Provably Fair
A randomly generated 7 digit number is created using Random.org and an image is uploaded online. The number and the link are then hashed (using this form: 1234567_link) and the resulting hash is displayed at the bottom of the raffle for you to verify after the raffle has concluded. Each spot in the raffle is purchased and has a unique transaction ID. The first number in this transaction ID is used i.e. c5a93b86654df5c31d04e9465e8510be1445bf1822f727fe08c31bd17f3g81ca
is registered as 5. All transaction numbers are added together (5+x+x...) until a sum is reached and that number is multiplied by the random 7 digit number. That number is then divided by the total number of entrants into the raffle to choose the hash # that will be used in the next step. The number is divided by the total number of entrants as many times as needed until a suitable number is reached. All numbers are rounded to the nearest whole integer.
EXAMPLE: If the random number was 8349215, the transactions total was 27, and the total number of spots in the raffle are 11.
8349215*27=225428805 225428805/11=20493527.7273
That number then divided again and again by 11 eventually gives you 11.56... which would be round up to 12 meaning we would have to divide again to get 1.0516... meaning the first spot in the raffle will be chosen to provide the hash.
The last 10 digits of the hash will then be input at http://we.lovebitco.in/raffle.html with the correct number of entrants and the winner of the raffle will be chosen.
I think this fully satisfies me not having any idea what the outcome of this could be until after the last ticket is bought.
Hash: b3a55ee873731f6a36c29f20140ca3df95df66f7ca3fea6915b576f41b98734c
Good luck!
If raffle is not concluded within the next day I will refund all funds minus the transaction fee.
Jump to: