Monday, November 5, 2018

What do you think of a Byteball AirDrop lottery?

This idea was posted elsewhere by someone with username keeek, but I am posting here to bring to attention. I have copied and pasted the original text:

"There is no fair distribution. There will always be people who get something or even get more and others get nothing. So the goal of the distribution is not fairness. The goal must be - with the resources available - to reach as many people as possible. With a weekly raffle of $ 25K from the official team, attention could be generated for many months at a much lower cost than previous Airdrops. By the height of the possible profit new users are attracted. A 25K USD profit is a life-changing event. This makes the rounds. Next you need bytes in the wallet for the lottery. Saving bytes (linking, not spending, like the existing lottery - just linking!) to the raffle could stimulate the market and raise prices. Nothing attracts more new people in the crypto universe, like rising prices! This is how the crypto market works (unfortunately). I think the topic of mass adaptation in the crypto world is only about the widest possible number of users. There must be many users and only then come the shops. Not the other way around. Therefore, the goal must be to get as many people on the platform as possible.

Calculation example: Even with the currently low byte price 600 raffles could be made with the remaining distribution fund paying a 25,000 USD profit each. Such a weekly raffle would be possible for years. Of course it makes no sense to do this for years, the example is only to show how long you can operate with the Fund such an Airdrop lottery. "

The original poster also followed up

"Airdrop Lottery

Of course, I know this lottery. But I'm talking about an Airdrop distribution and new users. With the existing Smart Contract lottery you also have to spend bytes to participate. My suggestion is to link the bytes only. In addition, the profit in the existing lottery is far too low to ensure a new spread, since it consists only of the deposits of users. My suggestion is to use the Distribution Fund.

Bytes vs. Dollar / penny

You have to do it as easy as possible. How do you make it easy for people? By giving you something that you already know. People know dollars and cents. You know euros and cents. I mean people know a main and a small unit. This has already worked for Bitcoin. There are many decimal places at Bitcoin and the Satoshis are the cents. Everyone gets it right the first time. We would first have to explain the gigadollar or megaeuro. Of course, this would be a far-reaching change, as many system components need to be rewritten. But if, why not now? Currencies have produced similar units for centuries: a main unit and a penny unit. At the beginning, I also thought that gigabytes, megabytes and bytes would actually be quite elegant, but in reality you force people to use a computer format. "

Tarmo888 fromthe Byteball community responded:

" But, the goal of initial distribution is not making some lucky guy rich, the goal is to be a fair initial distribution. So, as many as possible people (especially non-existing cryptocurrency users) will get some bytes. Lottery just makes very few people extremely rich and some linking system is very similar to the same system that airdrop to Bitcoin users already was, including people who already have bytes, not new users https://byteball.org/#dist

You are explaining the exactly the opposite. Yes, everybody knows that Dollar and Euro is bigger than cent or penny, but new users don't know that Bitcoin is bigger than satoshi, they need to learn it first and it is confusing because in real world, coins (metal money) are smaller units than paper money and because more notable people (Benjamin Franklin) are on higher paper money notes. So, if new users have heard Bitcoin and Satoshi Nakamoto then first impression is opposite - Bitcoin seems small unit because it is coin and Satoshi seems big unit because it is notable person (like on paper note). And no, there is not many system components that need to be rewritten, on background Byteball uses Bytes everywhere, kilobyte/megabyte/gigabyte is just a way how to show ridiculously big byte values in comfortable format that makes sense for the user, so instead of displaying 100 000 000 bytes, it can be displayed as 100MB. There is nothing bad about computer format, it is universal, even Google can help you calculate it https://www.google.com/search?q=100000000+bytes+to+megabyte

If Bitcoin/Satoshi makes sense to you, but Byte/KiloByte/MegaByte/GigaByte doesn't then you have misunderstood something. Bitcoin and many other cryptocurrencies, the amount you have them, doesn't relate to what you can do with them, the value in them is constantly changing. On Byteball, 1MB means that you can do transactions or store data that takes 1MB of space on DAG database. "

paul murray

As I understand, 1 byte = 1 lottery ticket. If you have 1000 Bytes you would get 1000 tickets regardless of whether you keep all 1000 in one wallet or if you spread them to 1000 independent wallets. So there wouldnt be an issue with people entering multiple times to increase changes of winning with multiple wallets

What do people think?


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