Topic: True Flip - Become a shareholder of world's largest blockchain lottery - page 5. (Read 14284 times)

Since many of us here are not familiar with the tech how do we cash up. I think things should be made alot easier if everything is explained to the level a lay man can understand. Though I will like to go through way it works because this blockchain lottery is one of apart of crypto currencies that has not been fully utilize.

Thanks) we are getting feedback from our early users and mak a product more interactive day by day.
 
Here are our roadmap for nearest week:
1. Start accepting ETH
2. Give users multi tickets, that allows to play in series of draws (up to 60 draws)
3. Start broadcasting in live the Draw process (not so technical and boring as youtube but much engaging:) It's a secret we will uncover in next 2 weeks.

Good luck!

p.s.
one more thing - we have our first winner of 0.5 BTC! You can find him in the Draw №30 30/04/2017

Nope,its really understandable even though its not really user friendly at all but if you are a techy guy you would easily catch it up.As far as I know there are lots already who made an attempt on having a lottery online based on Bitcoin but seems all have failed and didn't pursue their projects because of lacking interest on the public.This site do have transparency and well designed but interest of people would really matter here most.

At least i do not think you are the largest lottery atm.
It's a good system at all and it really looks good, but the concept isn't friendly to understand.
We will see how many will use this in future.

Thanks for the info, I see that your system is pretty transparent. There's one thing I'm worried about and that is the jackpot.
You claim your jackpot is 12 btc, but there's no address to back up that claim. If you provide the address where the potential winnings are stored than that will
increase the trust people have in your business.

In an every draw that has already took place there were wining tickets. You can see wining combinations here http://imgur.com/a/oDGUh and archive of the draws can be found here: http://trueflip.io/info/archive

If you click on the 23 Draw, you can see all the data and who won that time - http://imgur.com/H340ZeF - 3 tickets won 0.075 btc

So what happens when no tickets have the corresponding numbers?

Hello everybody!

My name is Nik and I am the representative for the TrueFlip.io project for the community.

First of all, let me thank you for this article. We've planned to open our official bitcointalk page this week, but you outpaced us). We will publish a link to the official channel this Friday.

Let me introduce our product, team and plans.

We are proud to announce that our blockchain lottery, Trueflip.io, is ready for beta testing on a global scale in the Bitcoin community! After months of dedication to this project, beta testing is now available to everyone.

Our game looks the same as any ordinary lottery (for example Powerball): you guess 5 numbers between 1 and 49 and 1 between 1 and 26 (we decided to significantly increase the win probability by reducing the total quantity of numbers from 75 to 49, which gives about 1.3 times more chances to win than the PowerBall does). After that, our system randomly draws 6 numbered balls and this process is totally transparent!

However, these are all similarities to classic lotteries. Our advantage comes from the fact that our lottery is fully based on the Bitcoin and blockchain. We applied these advanced IT technologies to completely overhaul the rules of the game that has not been changed for almost 500 years. Our goal was to make it more convenient, open, fair, and valuable.

How does the draw take place?

The Trueflip.io lottery system works by taking the fetching the first hash in blockchain which appears after 20:00 UTC (which is impossible to know in advance and last ticket for the draw can be purchased up to 19:30) and plugging it into the algorithm which can be found on Github, to generate the six numbers for the upcoming drawing. This process is repeated for every draw at 20:00 every day. Here you can watch an explanation of the process or read an article in our official Medium Blog.

More info about the product and its advantages you can find on our site - http://trueflip.io/info/about.

Now about ICO we want to participate in May-June 2017.

First of all, what differs us from other ICO’s - we’ve already made the product, despite others who just promise to develop something in the future. So why do we still need ICO? Here are the main points:
 1. JackPot. A lottery will be interesting only if there is a BIG Jackpot - so we want to raise at least 1 000 BTC Jackpot from ICO campaign.
 2. Transparency. We want to prove to the community that our game is fair. As for this very moment, Tre Flip is not transparent for 100%. We know this and have a plan on how to move Trueflip to full decentralization and make it independent to any third parties (including the team). We will explain our plans in the White Paper at the end of this week.
 3. Marketing and PR. We understand that a few projects can get millions of clients without a marketing budget. So, selling TFL tokens will assemble a budget for a worldwide marketing campaign. We have a solid marketing strategy.

Here are the percentages for ICO token and Ticket:

TFL token structure (price from 0.007 to 0.025 BTC)	100%
Jackpot	55%
Marketing	30%
Decentalized token development	10%
Management fee	5%

Ticket (constant price 0.001 BTC)	100%
Jackpot	65%
Marketing	15%
Management fee	5%
Dividends	15%

One more thing - we are going to contribute 80% of all the emission to community (800 000 TFL tokens for ICO and 200 000 TFL tokens will be stayed for the team).

Concerning Marketing budget - we know how to achieve 100 000+ users per day. It is expensive but effective. All reports will be transparent for shareholders. And after becoming decentralized, all shareholders will be able to vote for reducing or increasing of the marketing budget or dividends.

About our team: we are international: Russia, Canada, Brasil, China, Japan and other countries. We have great experience in product development (more than 12 years). Core developers are well experienced in blockchain. Also we are working to engage some well-known community people to our advisory board.

We have much more information we would love to share with you and will next time in our official bitcointalk page.

We are open to discuss our project and make true decisions. Feel free to ask any question.

Interesting offer, I never invested in a ICO before, I would like to try, but as Thomasven comment above says it doesn't inspire much confidence in investors, looks too risky. I agree the values OP showed are exaggerated and not realistic.

Hey!

Apart from the nice graphic design not much is known about your company. I don't see any option to invest on your site and the expectation to sell 2 million+ tickets is absolutely absurd! Even if you sell 2 million tickets that means you have to have a prize of 1 million dollars in btc, and I'm not quite sure if you have that kind of money.

Now the stats: you claim 1/5 people participate in loterries of the 12.5 million registered users. Then you claim they will all come and participate in your lottery.

Reality:
- not every user is active
- how did you get that 1/5 number?
- you don't have 100% marketshare so you won't get all customers.

Another claim: $600000+ on marketing

Reality: this is waaay too much, the active bitcoin community doesnt require that much money and you havent even shown us all the types of media you will use and how effective it will be.

Another claim: ticket revenue: 50% to jackpot, 10% to shareholders, 40% to ?

Reality: I assume the 40% is profit, there is no reason to take that much profit. I would suggest that you make the percentage the shareholders get and the amount that goes into the jackpot higher.

Verdict:
Do not invest, this company and it's business model is waaay overvalued to the point where this might be a scam.