I'm doing the PTS-> LTS (LottoShares) distribution and I'm curious about the second largest address.

MFhWZJFwPgmGtFcATEcXYkbng5sZqzeYtn:483000

Previously with MMC, doing a small distribution to PTS hampered the adoption by exchanges because they didn't want to undertake the work of doing the distribution. They also didn't want their users complaining that they hadn't done the distribution, so they ignored the currency entirely. It was an unforeseen and rather unfortunate effect of doing a distribution.

To avoid that problem I want to remove the distribution to exchanges so that they are in a better position to support LottoShares and have an explanation to give to their users about why they are not getting a distribution. The funds will be spread to the other MMC holders instead.

MVgvtTcrX7A7pW96su5ipfGMReE1f5DzKS:2650000

I'm assuming the top address is the balance held by BTER - and this won't be receiving a distribution.



I don't know about the second address though - who owns that?

Reminder - Distribution on 31st May - Hold your PTS off-exchange

There is is a distribution taking place for PTS holders

The distribution date for LottoShares is at end of the day on May 31st.

https://bitsharestalk.org/index.php?topic=4691.0

It is vital that you hold your PTS in a private wallet so that you control the private keys at the end of this month.

I will be trying to identify and remove balances held by exchanges, so they will not even be in a position to make a distribution of LottoShares.

Please remove your PTS from exchanges immediately if you want to receive your shares in LottoShares.

This information may be outdated - latest information here -

http://forum.lottoshares.org/topic/4/lottoshares-you-probably-wouldn-t-be-interested-in-this-launch-july-8th


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I'll shortly be launching an experimental Distributed Autonomous Corporation - LottoShares DAC.

LottoShares allows shareholders to use their shares to play a lottery style game, choosing 6 numbers from 42.

Players can choose the size of their stake and prizes are fixed-odds -

6 numbers = 1,000,000 X stake
5 numbers = 5,000 X stake
4 numbers = 100 X stake
3 numbers = 10 X stake

How will the DAC turn a profit?

When a lottery ticket is played, the shares used as a stake are destroyed. Prizes are paid from the coinbase and provide an 85% average return. Thus as the lottery is played 15% of the total stake is destroyed, giving non-playing shareholders a greater stake in the DAC.
See Dividends 2.0 for more explanation - https://bitsharestalk.org/index.php?topic=1169.0

How will the DAC protect its blockchain?

LottoShares is merge-mined with Scrypt based coins. Thus anyone mining Litecoin, Dogecoin etc can process LottoShares tickets and transactions with little additional cost. The processor retains a small percentage of the ticket stakes, and a small percentage subsidy for processing prizes.  LottoShares allows for a small subsidy while blockchain difficulty is low to ensure bootstrapping and continuity.

How will the numbers be drawn and prizes awarded?

As soon as a new block is seen on the network, its timestamp will be signed and broadcast to the network. The next set of NY state lottery quick pick numbers drawn will be used as a seed. This seed will be broadcast as a transaction and a block including the transaction must also deterministically generate the pseudo random numbers and award the prizes in the same block.

Isn't that a bit centralized?

Yes. The problem of provably fair distributed random numbers has not been solved yet, so block hashes together with NY lottery numbers will be used. Where the problem of provably fair distributed random numbers is solved, LottoShares DAC will incorporate it.

Who will own the shares?

10% will be proportionally distributed to MemoryCoin (MMC) holders (Block #39,983)
10% will be proportionally distributed to ProtoShares (PTS) holders (Block #65,959)
10% will be proportionally distributed to AngelShares (AGS) holders

30% will be targeted at the public addresses of individuals who can be helpful to LottoShares DAC (devs, exchanges, service providers, marketeers etc - email memorycoincc@gmail.com to make a pitch, full list to be provided at launch)

This first 60% is vested and funds will not be valid for (90 + rand(365))days - where the pseudo-random component is seeded on the address. Distribution date for ProtoShares and MemoryCoin will be the last block before the end of May 2014 UTC. Where it is possible to identify exchange holdings for PTS/MMC, these will not be eligible for any distribution. AngelShares distribution will be undertaken the advisement of I3.

20% will be airdropped on the top 1,000,000 Bitcoin addresses (excluding coinbase transactions) (Block 302,000)
20% will be airdropped on the top 250,000 Dogecoin addresses (excluding coinbase transactions) (Block 232,000)

This 40% will be valid for use immediately, this will be non-proportional, providing a small amount to each BTC/DOGE holder regardless of the size of their holding.

Launch Date
Test network live.

Launch date July 15th

I've asked Robonix to come on board the CEO team as CWO at 50% of the CEO salary from block 18,960.

I think we need a central point of control and responsibility for our website - previously it had been spread out between CEO, CMO and CSO and no-one was taking overall responsibility for it. Now Robonix is officially in charge of it.

Welcome aboard!
 

Yesterday I let Max go as DEO.

Sorry Max, appreciate all your input and thoughts, but I thought they weren't engaging the community enough and there was a lack of any specific outcomes. I think you're just a bit ahead of us all.

Looking for new DEO's - especially those with a marketing focus.

I'm thinking we could use MCF funds to start a LiveCD or LiveUSB distribution project.

The LiveUSB/LiveCD miner is getting close to high efficiency for CPUs

I think a distribution project where we charge a nominal fee . . . then configure a CD with the address the funds were received from, and post it to the user, or maybe a USB would be easier, but probably open to more abuse.

The multiaddress command line switch allows you to create new receiving addresses, and display them in the wallet.

However, it still uses the main wallet address for all change transactions. Should it?

Would multiaddress users prefer that it send change to a new wallet address, the default Bitcoin behaviour?