With all the hype, and fluctuation, in Bitcoin these days I was thinking it seems like only a matter of time before someone builds a true Bitcoin lottery (or at the very least a 50-50 system).
I’m not sure what the legal issues around it would really be, but it seems like they would most certainly be *less* than those required for running such things using traditional currency systems.
You would probably have to figure out a way for a third party to verify that you are running the system on the up-and-up (ie. that people who buy tickets/chances actually have a real and fair shot at winning; and that payouts really do occur) but these seem like fairly small challenges to overcome as a whole.
In fact it’s such a simple and obvious idea I would not be surprised to hear that others are already doing it (I don’t know - I didn’t really look around for any before posting this rambling/random thought).
But if it doesn’t already exist…it’s only a matter of time before it does…and so why shouldn’t you be the one to benefit from making it happen?
Oh and if you do go run with this idea…please feel free to kick me a few free tries/tickets (or even better a small percent of your profits)! :-)
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Kevin has a day job as CTO of Veritonic and is spending nights & weekends hacking on Share Game Tape. You can also check out some of his open source code on GitHub or connect with him on Twitter @falicon or via email at kevin at falicon.com.
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