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OfflineSurReality
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Bitcoin lottery/giveaway idea? * 2
    #18909623 - 09/30/13 12:39 AM (10 years, 4 months ago)

I'm thinking about having a type of lottery for bitcoins here. not too sure how it will fly, so i'm open for suggestions now. also not sure if it will be allowed, but i don't see why not.

so the idea is that i will have a 5% chance of winning. that is for every 20 who enter one will win 1000% of the entrance fee, and everyone else will get their entrance fee back. so its basically free because you will get your money back if you do not win. i'm not sure if i should have it go buy the value of a dollar or just by bitcoins...

options:
$$$
if its the value of the dollar, entry will be $1 and winners will get $10 in bitcoins according to MTGOX. this means that no matter what changes occur to bitcoin-USD you will get the same value back.

BTC
entry will be .01 btc and winners will get .1 btc. everyone will likely get more value back due to the steady incline of btc-USD exchange rate.


i think the lottery will go for a couple weeks, with the above options. but maybe with multiple lotteries options, say 3000% winnings i would have month long lotteries. also i will only accept entries for something like 3 days.

if you have any questions please ask and discuss. i see this beginning sometime in october.
Will participate in this if this begins?
You may choose only one


Votes accepted from (09/29/13 11:35 PM) to (No end specified)
View the results of this poll



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OfflineFox7
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Re: Bitcoin lottery/giveaway idea? [Re: SurReality]
    #18909632 - 09/30/13 12:42 AM (10 years, 4 months ago)

How is anyone gonna win (like where do the winnings come from) if you are giving the entrance fee back? I'm confused

On a side note I have some BTC I haven't spent in a while. Would it be smart to hold onto them (if the rate is actually going up) or should I just cash them out now?


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OfflineSurReality
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Re: Bitcoin lottery/giveaway idea? [Re: Fox7]
    #18909654 - 09/30/13 12:52 AM (10 years, 4 months ago)

the winnings will come from me, i'm a bitcoin trader and will use the entry fees as an investment. so their is some risk involved, but even in the unlikely event that i fail to profit i will keep the risk all on me and promise to pay everyone back out of my pocket... (now this may seem sketchy, especially if you don't know me. so if you do not trust me then it would be wise to not enter.) so this also means that entry will be limited capacity.


i would say it would be smart to hold on to them if you don't feel like you need to spend it now.


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Edited by SurReality (09/30/13 01:07 AM)


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OfflineFox7
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Re: Bitcoin lottery/giveaway idea? [Re: SurReality]
    #18909664 - 09/30/13 12:54 AM (10 years, 4 months ago)

Ok it's a good idea, I was just wondering where it was all coming from. .1 BTC isn't much of a risk

Thanks for the tip


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OfflineSurReality
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Re: Bitcoin lottery/giveaway idea? [Re: Fox7]
    #18909676 - 09/30/13 12:59 AM (10 years, 4 months ago)

yes that is just start up number idea. depending how things go (as far as turnout), i will try to increase the percent of winning payback and/or percent of winners as much as possible.

also have different types of lotteries, with higher entry fees and/or longer time periods in order to get as much payback as possible.

i'm open to suggestions on whether people like the idea of a lower win odds-higher winnings. or high win odds-lower winnings.


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OfflineMycjunky
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Re: Bitcoin lottery/giveaway idea? [Re: SurReality]
    #18909677 - 09/30/13 12:59 AM (10 years, 4 months ago)

I'm a bit confused on your math. If everyone gets there money back regardless of winning or not this sounds more like just randomly giving free money to people lol? I'm not sure I understand the point here. You say it's for investment but your talking about such a small amount I don't see how it'd be worth it to you. Just saying.


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OfflineSurReality
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Re: Bitcoin lottery/giveaway idea? [Re: Mycjunky]
    #18909687 - 09/30/13 01:04 AM (10 years, 4 months ago)

its not really worth it to me as far as making profit for myself, i just would enjoy giving out free money lol.

i have my own investments that i'm dealing with, i'm not doing this with the intent to make a bunch of money off the shroomery. it doesn't take a lot of time out of my day to trade bitcoins daily. i just think its a fun idea.

also i'm going to keep a limited entry capacity so that it doesn't take a lot of my time.


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Offlineakira_akuma
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Re: Bitcoin lottery/giveaway idea? [Re: SurReality]
    #18909701 - 09/30/13 01:10 AM (10 years, 4 months ago)

sounds like a good idea to me.


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InvisibleLegend
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Re: Bitcoin lottery/giveaway idea? [Re: akira_akuma]
    #18909816 - 09/30/13 02:52 AM (10 years, 4 months ago)

Quote:

akira_akuma said:
sounds like a good idea to me.




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[url=
]Buy the ticket, take the ride. [/url]
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InvisibleEdibleStereos
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Re: Bitcoin lottery/giveaway idea? [Re: Legend]
    #18909820 - 09/30/13 02:57 AM (10 years, 4 months ago)

I an skeptical. You are a very long time member though, have other members met you in person?


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InvisibleLegend
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Re: Bitcoin lottery/giveaway idea? [Re: EdibleStereos]
    #18909821 - 09/30/13 02:58 AM (10 years, 4 months ago)

his trade ratings seem legit

:shrug:


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No sympathy for the devil, keep that in mind.
[url=
]Buy the ticket, take the ride. [/url]
Are you lost?


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OfflineSurReality
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Re: Bitcoin lottery/giveaway idea? [Re: EdibleStereos]
    #18909826 - 09/30/13 03:01 AM (10 years, 4 months ago)

no i haven't met others in person, other users just know me from this site and trading with me.

another reason i think entries should be low is due to skeptical people, which i understand. i figure once people see others do this people will be ok with larger entry fee options.


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InvisibleChowder963
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Re: Bitcoin lottery/giveaway idea? [Re: SurReality]
    #18909841 - 09/30/13 03:14 AM (10 years, 4 months ago)

This is stupid.


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OfflineSurReality
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Re: Bitcoin lottery/giveaway idea? [Re: Chowder963]
    #18909844 - 09/30/13 03:15 AM (10 years, 4 months ago)

i would appreciate it if you mentioned why you feel that way.


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InvisibleChowder963
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Re: Bitcoin lottery/giveaway idea? [Re: SurReality]
    #18909849 - 09/30/13 03:18 AM (10 years, 4 months ago)

If you really wanted to do something like this, why not use real money through paypal?

I said that because it just seems so sketchy. Sorry didnt mean to sound offensive but it does.


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InvisibleLegend
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Re: Bitcoin lottery/giveaway idea? [Re: Chowder963]
    #18909850 - 09/30/13 03:18 AM (10 years, 4 months ago)

i'd rather have bitcoins than money

:shrug:


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[url=
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Are you lost?


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OfflineSurReality
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Re: Bitcoin lottery/giveaway idea? [Re: Chowder963]
    #18909854 - 09/30/13 03:21 AM (10 years, 4 months ago)

Quote:

Chowder963 said:
If you really wanted to do something like this, why not use real money through paypal?

I said that because it just seems so sketchy. Sorry didnt mean to sound offensive but it does.




i can accept real money to and pay in real money, if you are more comfortable with that it makes no difference to me. but real money generally requires a transfer fee.

thanks for your input.


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InvisibleChowder963
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Re: Bitcoin lottery/giveaway idea? [Re: SurReality]
    #18909864 - 09/30/13 03:27 AM (10 years, 4 months ago)

Do you have to put in bitcoins to play this lotto? Or can you just join in on it.

Because very few people on here have bitcoins, it would be like 3-4 members just randomly playing a lotto for bitcoins.


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OfflineSurReality
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Re: Bitcoin lottery/giveaway idea? [Re: Chowder963]
    #18909873 - 09/30/13 03:31 AM (10 years, 4 months ago)

what makes you think very few people have bitcoins?? i already have 5 people considering this and it was posted when most people are sleeping...

anyway, no if you wanted to send me payment through paypal i will accept that.


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InvisiblehTx
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Re: Bitcoin lottery/giveaway idea? [Re: SurReality]
    #18909913 - 09/30/13 03:56 AM (10 years, 4 months ago)

Payment through pay-pal kind of ruins the whole thing for me..

You should keep it bitcoin exclusive and I'd probably be down for a lotto.

.01 aint shittt *yet*


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