Topic: TheSuperSatoshi Lottery (Read 883 times)

Thinking a bit better about this maybe what would make it possible indeed would be:
giving incentive to the early players.

Okay, so we want to reach 100,000,000,000,000 (hundred trillion) satoshis, as a prize, right?

So the final list of entries would be modified so that each entry is replicated 100000000000000-n times, where n is the entry on the list before this modification.

So in the example above, on my previous post, the final list would get:

From 1 to 100000000000000 1KyDtBCT6Vj7VdRP32reeNycrGnVvEjNDV
...
from 100000000000001 to 200000000000000 again 1KyDtBCT6Vj7VdRP32reeNycrGnVvEjNDV

and so on...

This way the earlier you sent bitcoins the more chances you would get, and you would always keep incentive to send more because you already put money there and want the lottery to reach the prize so that the prize can be given.

What do you think: a lottery with earlier adoption incentive that can make you the most rich man in the Universe.

Great!

Imagine amazon did it. No taxes; 0% profits...

Someone is doing a $1k party for when BTC stays over $1k for (maybe?) 30 days. Maybe do lotteries based on something similar. For the $1k mark, then the $1.5k, then...

Hopefully that would pay out faster than the original plan :-)

They get to be in the blockchain.
The difficulty is really in setting the contractual rule in a trustworthy way.
And sure, a prize of a million would be difficult to reach so maybe to set a date or a multiple number of blocks for the draw would be better, I agree. But then it shouldn't be called TheSuperSatoshi Lottery but maybe the AlmostSuperSatoshi... I suppose.

So, this is a way to take BTC out of circulation for, just about, ever?

Hope you put a good backup on that system... sure would suck to be ALMOST there and suddenly loose all the IDs (or payout addresses) associated with those payments.

 .  Figured. :-)

Sorry, I meant million not billion.
Thanks for correcting me.

So it never pays out since there will only be a max of just under 21 million BTC?

Or, only a few people contribute and it goes nowhere.  Why not do drawings on a set time schedule?

Here is how TheSuperSatoshi Lottery would work.
Someone we could all trust, like the Bitcoin Foundation, or Silk Road maybe, would have a bitcoin address hold by multi-signature and the contractual rule would be: the prize would only be given when it reached more coins than we think Satoshi has.
So, the prize would be when we reached something like a billion BTC or so...
For every amount sent you would have that number of satoshis sent make you have your bitcoin address listed in an ordered list of all the participations as many times as satoshis sent.

So for example if 1KyDtBCT6Vj7VdRP32reeNycrGnVvEjNDV sent 0.00000005 BTC, and after 1n6mSy5xptF8NpF5Nvoy3k1p1vapmZJb3 sent 0.00000003 BTC, and after 112adnFHbxDD9F72gRECPfxL3j62Ktrcm1e sent 0.00000009 BTC

The list with the entries of participations would get to be:

 1 => 1KyDtBCT6Vj7VdRP32reeNycrGnVvEjNDV
 2 => 1KyDtBCT6Vj7VdRP32reeNycrGnVvEjNDV
 3 => 1KyDtBCT6Vj7VdRP32reeNycrGnVvEjNDV
 4 => 1KyDtBCT6Vj7VdRP32reeNycrGnVvEjNDV
 5 => 1KyDtBCT6Vj7VdRP32reeNycrGnVvEjNDV
 6 => 1n6mSy5xptF8NpF5Nvoy3k1p1vapmZJb3
 7 => 1n6mSy5xptF8NpF5Nvoy3k1p1vapmZJb3
 8 => 1n6mSy5xptF8NpF5Nvoy3k1p1vapmZJb3
 9 => 112adnFHbxDD9F72gRECPfxL3j62Ktrcm1e
10 => 112adnFHbxDD9F72gRECPfxL3j62Ktrcm1e
11 => 112adnFHbxDD9F72gRECPfxL3j62Ktrcm1e
12 => 112adnFHbxDD9F72gRECPfxL3j62Ktrcm1e
13 => 112adnFHbxDD9F72gRECPfxL3j62Ktrcm1e
14 => 112adnFHbxDD9F72gRECPfxL3j62Ktrcm1e
15 => 112adnFHbxDD9F72gRECPfxL3j62Ktrcm1e
16 => 112adnFHbxDD9F72gRECPfxL3j62Ktrcm1e
17 => 112adnFHbxDD9F72gRECPfxL3j62Ktrcm1e
...
N => xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

When our lottery address reached the amount of BTC that we think Satoshi has we would wait for the next hash of the bitcoin network and compute:
LAST_HASH_VALUE Mod N
(where mod is modulus operation, that is, the rest of the integer division).
We would look up that result in our list of entries and the corresponding bitcoin address would be the winner.

Wow, he would now be richer than Satoshi Nakamoto. Touché!

As it would be an underground scenne set by the Silk Road, that we could all trust, there would be no taxes involved and because it could get to be the most popular lottery ever, in a few years time it could reach the net worth of Satoshi.