BitShares Forum

Other => Graveyard => MemoryCoin => Topic started by: Delinquency on January 10, 2014, 06:38:48 am

Title: Memorycoin Lottery Idea [In Development]
Post by: Delinquency on January 10, 2014, 06:38:48 am

Please let me know your thoughts or suggestions for the lottery before I create the lotto system.
Here I can demonstrate my Lottery System (In words)

• Ticket fees increase as more tickets are placed: ex. 12MMC for the first ticket, 14 MMC for the second, etc.. it discourages multiple entries and spirals the jackpot prize. ... 6 tickets = 100-ish MMC
• Payout of 97.1968%
• Megaspinner takes about 2 minutes for the first segment, a 30 minute pause, and then the final round will determine the winner #.. It requires a ton of randomization code. the spin can also be watched live on your web browser (ajax?)
• Tickets are shuffled 36 times, and a random number is picked (1-36) 100 times -- The most picked random number will be used as the ticket index. numbers are then picked from the index 100 times and sorted from most to least picked.
  A random integer from 1 to 1,000,000 is then chosen -- >500,000 = the most picked will be the winner list, <500,000 will choose the most unpicked list.
• If multiple entries are chosen the same amount of times, they will have a round-off to be placed in the list from first to last. this may be good or bad, depending on if the list is least picked or most picked
• The winner's list will then be respun 30 minutes later using a different algorithm.
• Between the amount of winners: a list of their numbers are generated 50 times randomly.
  
  A list of numbers are then generated from 1 to 50 until all the numbers equal the same number. This will be the special list used when sorting out the winners.
  
  **An array of numbers between 0 and 1 will be generated 50 times until they either all equal 0 or 1. [0- most picked, 1- least picked.]
  
  The numbers from the lists are then tallied up and sorted out from most picked or least picked.
  
  The payouts will be paid out from first to last.

Payout Division - Jackpot System (2.8032% is kept by the house)

• < 175 MMC - 1 Winner
• > 175 MMC - Two Winners - Payout split - 72%, 28%
• > 500 MMC - Three Winners - Payout split - 67%, 21%, 12%
• > 1250 MMC - Four Winners - Payout Split - 63%, 19%, 13%, 5%
• >2500 MMC - Five Winners - 54%, 21%, 14%, 7%, 4%
• >5000 MMC - Six Winners - 47%, 21%, 13%, 10%, 6%, 3%
• >10,000MMC - Seven Winners - 43% 19%, 15%, 10%, 7%, 4%, 2%

Title: Re: Memorycoin Lottery [In Development]
Post by: FreeTrade on January 10, 2014, 11:44:57 am

Have you given any consideration to the idea of accepting all alts and paying out in MMC?

I think you could get it started pretty quickly by establishing a cryptsy account, creating a deposit account for every alt, with conversion to BTC on receipt.

Then all you've got left is an accounting problem of calculating each address's chances, and a fair way of choosing the winner.
Convert the winning entry address to an MMC address and payout.