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We created this website with the sole purpose of users being able to search quickly and efficiently in the field of cryptocurrency so they will have access to the latest and most accurate information and thereby assisting the crypto-community at large.

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Also, the chance of them brute forcing a 64 digit alphanumeric seed which I hashed with SHA-256 is very low.

I would do the drawing as follows:

- Go to random.org and generate the random number(s) between 0 and
*n*based on a "persistent identifier". A good identifier to use would be a newly generated bitcoin address that has not been used yet. - Post the SHA-256 hash of the identifier on the forum to commit to the number(s)
- Publish the guesses. This way, people can see if all guesses have been exhausted. This prevents me from claiming no-one won.
- Announce the winner and publish the identifier used to generate the number(s), so everyone can verify the winning number(s).

This is a very good solution. I was looking around on random.org, but I hadn't thought it all the way through. Would you be interested in buying into a lottery like this? It's interesting, because it doesn't reward buying a bunch of guesses at once (each one gives diminishing returns, because you're putting more money into the pot) and the longer it goes on (maybe capped to a week, and whoever's closest after a week wins) the more profitable it would be, because there'd be less choices, thus more chances for winning. It's almost like a Bingo lottery. =P

Looks very cool!

Maybe we can test out the coin flip?

I would do the drawing as follows:

- Go to random.org and generate the random number(s) between 0 and
*n*based on a "persistent identifier". A good identifier to use would be a newly generated bitcoin address that has not been used yet. - Post the SHA-256 hash of the identifier on the forum to commit to the number(s)
- Publish the guesses. This way, people can see if all guesses have been exhausted. This prevents me from claiming no-one won.
- Announce the winner and publish the identifier used to generate the number(s), so everyone can verify the winning number(s).

This is a very good solution. I was looking around on random.org, but I hadn't thought it all the way through. Would you be interested in buying into a lottery like this? It's interesting, because it doesn't reward buying a bunch of guesses at once (each one gives diminishing returns, because you're putting more money into the pot) and the longer it goes on (maybe capped to a week, and whoever's closest after a week wins) the more profitable it would be, because there'd be less choices, thus more chances for winning. It's almost like a Bingo lottery. =P

I was considering starting something like a "real time lotto", but wanted to probe the community first.

How would everyone here feel about a lotto that works as following:

I, or some third party, would choose a random number and keep it a secret, and put several bitcoins into the pot to get things going.

People begin to guess numbers at 1btc each guess. Each bitcoin goes into the pot.

This continues until someone guesses the number, at which point 3 things happen:

80% (or some other number, it's up to how people react) of the pot goes to the winner.

1% goes to me (very modest, I should say)

19% stays in the pot to get it started for the next one, and a random number is chosen again.

This could be automated, as a (potentially) very fast paced lottery.

So:

What numbers should I use above, or are the values I've chosen reasonable?

Would you prefer the "already guessed" numbers be shown? Hidden? Shown after they've been guessed multiple times?

Any other ideas/suggestions?

How would everyone here feel about a lotto that works as following:

I, or some third party, would choose a random number and keep it a secret, and put several bitcoins into the pot to get things going.

People begin to guess numbers at 1btc each guess. Each bitcoin goes into the pot.

This continues until someone guesses the number, at which point 3 things happen:

80% (or some other number, it's up to how people react) of the pot goes to the winner.

1% goes to me (very modest, I should say)

19% stays in the pot to get it started for the next one, and a random number is chosen again.

This could be automated, as a (potentially) very fast paced lottery.

So:

What numbers should I use above, or are the values I've chosen reasonable?

Would you prefer the "already guessed" numbers be shown? Hidden? Shown after they've been guessed multiple times?

Any other ideas/suggestions?

What about the following:

Have a lottery for N people (this can be varied from 2 to 100 -- maybe start with 2 for fun)

Each enters 1 BTC and chooses one of the remaining numbers from 1 to N.

Once N people are hit, take a timestamp. Then run that timestamp as a seed in a random number generator.

This picks the winner.

I'd suggest to start with all funds returned to participants at parity because:

1. legal in most US states

2. fun to get things going ...

Later on you can add a rake, bonus system, jackpot etc, like poker sites do.

- Go to random.org and generate the random number(s) between 0 and
*n*based on a "persistent identifier". A good identifier to use would be a newly generated bitcoin address that has not been used yet. - Post the SHA-256 hash of the identifier on the forum to commit to the number(s)
- Publish the guesses. This way, people can see if all guesses have been exhausted. This prevents me from claiming no-one won.
- Announce the winner and publish the identifier used to generate the number(s), so everyone can verify the winning number(s).

It's not that I don't trust someone for a few coins, but it'd be nice to have a system that scales and new people and unlucky people know can't be rigged.

How would everyone here feel about a lotto that works as following:

I, or some third party, would choose a random number and keep it a secret, and put several bitcoins into the pot to get things going.

People begin to guess numbers at 1btc each guess. Each bitcoin goes into the pot.

This continues until someone guesses the number, at which point 3 things happen:

80% (or some other number, it's up to how people react) of the pot goes to the winner.

1% goes to me (very modest, I should say)

19% stays in the pot to get it started for the next one, and a random number is chosen again.

This could be automated, as a (potentially) very fast paced lottery.

So:

What numbers should I use above, or are the values I've chosen reasonable?

Would you prefer the "already guessed" numbers be shown? Hidden? Shown after they've been guessed multiple times?

Any other ideas/suggestions?

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