Congrats on the announcement!

I didn't get to see 'every' post in the thread so I might have missed it so forgive me if this repeats, but just wondering why BTS isn't the preferred method of payment?

We have a number of bridging options to allow people to convert btc to bts.. and vice versa. Perhaps even accept bitUSD?

Is it planned for 2.0 launch perhaps?

Quote from: Murderistic on September 16, 2015, 04:09:16 AM

Quote from: donkeypong on September 16, 2015, 03:40:15 AM
Yes, good catch. But please don't assume you have a customer base already intact. You will need to market it and bring in the players. I think what you're saying is that the customers already trust the physical model, which is true. And I have more respect for your background than to believe you'd put this out there without marketing it. Nevertheless, I will say it: the BitShares and crypto world is a small and insular group of people with a limited amount of disposable cash. We will be your partners/owners/boosters and we will use it recreationally. But please look beyond this group to grow your customer base.

From a lottery perspective of players on island I am not concerned as much about that or revenue projections used in my last example.

From a LottoShares holders perspective, I 100% agree, I need to work hard at showing them WHY they should contribute, and hold.  Good input sir.

when do you create the UIA onchain? I'd buy some for BTS

Quote from: Ander on September 15, 2015, 11:08:06 PM
What I am hearing is that St. Maarten is going to be our future Bitshares island. ;) 
We shall all meet there to celebrate when BTS surpasses Bitcoin.

quote me on it: I will be there once that happened.

Quote from: donkeypong on September 16, 2015, 03:40:15 AM
Yes, good catch. But please don't assume you have a customer base already intact. You will need to market it and bring in the players. I think what you're saying is that the customers already trust the physical model, which is true. And I have more respect for your background than to believe you'd put this out there without marketing it. Nevertheless, I will say it: the BitShares and crypto world is a small and insular group of people with a limited amount of disposable cash. We will be your partners/owners/boosters and we will use it recreationally. But please look beyond this group to grow your customer base.

From a lottery perspective of players on island I am not concerned as much about that or revenue projections used in my last example.

From a LottoShares holders perspective, I 100% agree, I need to work hard at showing them WHY they should contribute, and hold.  Good input sir.

Yes, good catch. But please don't assume you have a customer base already intact. You will need to market it and bring in the players. I think what you're saying is that the customers already trust the physical model, which is true. And I have more respect for your background than to believe you'd put this out there without marketing it. Nevertheless, I will say it: the BitShares and crypto world is a small and insular group of people with a limited amount of disposable cash. We will be your partners/owners/boosters and we will use it recreationally. But please look beyond this group to grow your customer base.

Quote from: donkeypong on September 16, 2015, 03:18:22 AM

Quote from: joele on September 16, 2015, 01:40:38 AM
I rather buy more BTS than invest in this.

No need to choose just one. I'll take them both. Seriously, this Lotto thing looks like a good team with a good concept, so I am hopeful that they can succeed where earlier attempts have not (nothing in this space has failed yet; earlier attempts have not followed through). If this is built well, the business model is pretty well proven already and gamblers are getting a higher margin from the blockchain, so all they need to do is market the heck out of this and bring in some players who will spend. It ought to generate some solid returns.

I saw the defunct Lottoshares attempt and when the creator signed off he had THIS to say:

Update:

I've been trying to resolve two problems with LottoShares but have not managed to do so.

The first is a forking problem when the checkpointing server is running. The checkpointing server allows draws to take place but causes forks to take place when checkpoints aren't accepted by some clients.

The second is decentralizing the draw/random number generation. Using the block hash and a private key to generate unpredictable randomness is centralized and ultimately unsatisfactory. I think the second problem may only be resolvable in the context of a (bitshares style) delegate model.

Unfortunately I've been unable to resolve these problems in LTS despite a huge amount of effort. I have now decided to redirect my efforts to other projects.

Thanks to everybody who took part and I'm sorry it didn't turn out as well as we had all hoped.

Notice how when the original lottoshares guy gave up he referred to our delegate model as possible for fixing their problems.

With our model we are tied to a physical lottery with a customer base already there, not a digital lottery that needs to persuade customers, or find more in the same way.

It really is a crowdfunding model that happens to use a high profit margin example.

Quote from: Stan on September 16, 2015, 03:21:56 AM

Quote from: Murderistic on September 16, 2015, 03:03:59 AM

Quote from: Stan on September 16, 2015, 02:52:03 AM

Quote from: konelectric on September 16, 2015, 01:31:34 AM

Quote from: Stan on September 16, 2015, 01:06:23 AM

Quote from: Murderistic on September 15, 2015, 11:43:33 PM

And don't get me started on the mean airspeed velocity of African vs. European swallows...

Are they carrying coconuts? That dose matter in the Caribbean.

I don't know...

Sure, if they carried it between two of them on a blockchain gripped by their dorsal feathers...

Like this?

I think so, Brain, but wouldn't that throw their C_Mde stability derivative way off?

I fixed that for you   ;)

Quote from: Murderistic on September 16, 2015, 03:03:59 AM

Quote from: Stan on September 16, 2015, 02:52:03 AM

Quote from: konelectric on September 16, 2015, 01:31:34 AM

Quote from: Stan on September 16, 2015, 01:06:23 AM

Quote from: Murderistic on September 15, 2015, 11:43:33 PM

And don't get me started on the mean airspeed velocity of African vs. European swallows...

Are they carrying coconuts? That dose matter in the Caribbean.

I don't know...

Sure, if they carried it between two of them on a blockchain gripped by their dorsal feathers...

Like this?

I think so, Brain, but wouldn't that throw their C_Mde stability derivative way off?

Quote from: joele on September 16, 2015, 01:40:38 AM
I rather buy more BTS than invest in this.

No need to choose just one. I'll take them both. Seriously, this Lotto thing looks like a good team with a good concept, so I am hopeful that they can succeed where earlier attempts have not (nothing in this space has failed yet; earlier attempts have not followed through). If this is built well, the business model is pretty well proven already and gamblers are getting a higher margin from the blockchain, so all they need to do is market the heck out of this and bring in some players who will spend. It ought to generate some solid returns.

Can always use a little help on this:

https://bitcointalk.org/index.php?topic=1181559.0

Quote from: Stan on September 16, 2015, 02:52:03 AM

Quote from: konelectric on September 16, 2015, 01:31:34 AM

Quote from: Stan on September 16, 2015, 01:06:23 AM

Quote from: Murderistic on September 15, 2015, 11:43:33 PM

And don't get me started on the mean airspeed velocity of African vs. European swallows...

Are they carrying coconuts? That dose matter in the Caribbean.

I don't know...

Sure, if they carried it between two of them on a blockchain gripped by their dorsal feathers...

Like this?

Quote from: joele on September 16, 2015, 02:50:06 AM

Quote from: Murderistic on September 16, 2015, 02:14:38 AM

Quote from: joele on September 16, 2015, 01:40:38 AM
I rather buy more BTS than invest in this.

Why would you make that choice?

I think LottoShares brings a lot to the table in terms of relative stable profitability.

I hope so.

So from that perspective, look at it this way...

Fantasy Lotto has historically ran on over 30% total net profit per month.  With $150,000 per month in total revenue, LottoShares partners would split $50,000 in net profit fours ways (25% each).  Once the LottoShares contribution period of 90 days has passed, Fantasy Lotto projects having 3 X more employees and locations.  Our goal is to scale from the 25 employees to 100 employees.  With a net return of $12,000 per month, even if the Lottery remained static in growth, the NET ROI over 12 months would be estimated at $144,000.00 paid into LottoShares from a $520,000.00 initial contribution.

If that is the case, we are talking 28.8% growth in actual dollar value added to the asset if the business itself remains static in sales.  Not a bad return for anyone that wants to take advantage of that.

But you need to factor in greed.  Speculation and what people value it as now and long term.

The value of the shares itself from that perspective might skyrocket.

Consider this...If we are adding 50k a month in real cash infusion to LottoShares market value, while decreasing the amount of shares still left, the pendulum swings pretty far toward high value...

But if EVERY LottoShares holder held their shares during the buyback (not likely 100% but their could be a high hold rate which will influence this), people or a person that sold a very small amount for an obscene amount (because we are forced to buy back with the 25% every month), would push the value of shares all over the place.

I for one think that the share amount will continue to go up, especially if there is growth in the lottery itself.

Quote from: konelectric on September 16, 2015, 01:31:34 AM

Quote from: Stan on September 16, 2015, 01:06:23 AM

Quote from: Murderistic on September 15, 2015, 11:43:33 PM

And don't get me started on the mean airspeed velocity of African vs. European swallows...

Are they carrying coconuts? That dose matter in the Caribbean.

I don't know...

Sure, if they carried it between two of them on a blockchain gripped by their dorsal feathers...

Quote from: Murderistic on September 16, 2015, 02:14:38 AM

Quote from: joele on September 16, 2015, 01:40:38 AM
I rather buy more BTS than invest in this.

Why would you make that choice?

I think LottoShares brings a lot to the table in terms of relative stable profitability.

I hope so.

Quote from: konelectric on September 16, 2015, 01:31:34 AM

Quote from: Stan on September 16, 2015, 01:06:23 AM

Quote from: Murderistic on September 15, 2015, 11:43:33 PM

And don't get me started on the mean airspeed velocity of African vs. European swallows...

Are they carrying coconuts? That dose matter in the Caribbean.

I don't know...