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> Currently the lottery has a 25% cut of the total amount in the lottery. This is used to pay for development, server costs and maintainence. Eventually, my goa
by benjoffe 13y ago
> Currently the lottery has a 25% cut of the total amount in the lottery. This is used to pay for development, server costs and maintainence. Eventually, my goal is to decrease the fee to as small as possible to allow for the largest winning. This will take place when the development stops (meaning there are no features to be added) and/or the lotteries take place more often.
I find this to be backwards, you are effectively punishing your early adopters. It seems to make much more sense to make the cut lower (or zero) now, and increase it later when you have more users.
- Prefinem 13y agoI like your idea. I will cut the fees to something like 1% to pay for the transaction fees
- shloime 13y agoGood call.
- Prefinem 13y agoThanks
- jswift 13y agoIt's a good idea but any cut above this will make the lottery very expensive. National lotteries can pay out 50% because they have a monopoly and the remainder usually goes towards a community project.
- Prefinem 13y agoI will probably increase fees (nothing to exorbitant) to covers costs if this takes off. I don't think it will require to much to run unless it becomes insanely popular. At that time, I will open up more lotteries for different payout ranges to make it more beneficial for costs.
- sterlingross 13y agoJust a note, your site now says there is a 1% cut on one page [about] and a 25% cut on another page [how it works].
- Prefinem 13y agoThanks, fixed
- TheTaytay 13y agoYou probably haven't updated it yet, but on one page it says 1%, and on the other it says 25%.
- Prefinem 13y agoFixed, Thanks
- jaredandrews 13y agoI noticed you have changed your fee. The example in how it works still reflects the old rate. Just letting you know. Nice project BTW I'll give it a shot next time I get some BTC.
- Prefinem 13y agoThanks, fixed.