You may or may not be aware of a particular subreddit https://www.reddit.com/r/millionairemakers/ which is an embodiment of a showerthought: https://redd.it/2mq94c Basically: If 1 million people gave $1 to someone, they could make that person a millionaire. Many of the issues that I see with the Reddit model can be solved by moving to the Steemit platform. Instead of trying to coax them to move to Steemit, I figured the world is better off with more than 1 of these drawings anyway, So I decided to take action. Steemit works differently than reddit, and I intend to improve upon the millionairemakers concept in every way that I can.
Currently, /r/ millionairemakers drawings take place once a month, with a thread that stays open for 24 hours, people upvote the thread to attract attention, and top level commentators whose accounts meet a certain criteria are entered into a draw in the upcoming days. Participants are supposed to give $1 to the winner, but it seems that the actual contributor/participant ratio is probably less than 1:10. This is possibility partially due to the use of multiple accounts, or possibly just people who either don't want to donate, or don't have $ to donate. With Steem, everybody has something to donate, and it won't cost them a thing. Steemit Millionairemakers will also offer the opportunity to donate crypto, tokens, paypal, etc. to the winners, but the main benefit will be that the sole act of participation will generate a guaranteed prize pool for the winners.
The mechanics of Steem present new opportunities for changes/improvements in the millionairemaker system. Upvotes generate Steem, Steem can be converted to SteemPower.. I am still new to Steem, and still have much to learn. If more SteemPower in the MillionaireMaker account can benefit the winners, then I am open to the idea of converting a small portion of the generated Steem into SP to power up this account to that successive MillionaireMaker drawings get progressively larger prize pools. Since it takes about a week for the steem post $ to mature, I plan to leave the drawings running for a full week before selecting a winner, so everybody has a chance to participate, the winner can get the maximum amount of $, and they won't have to wait around a week to receive their prize.
The date for the entry threads will be on the same date every month. Since it is currently nearing the end of this month, I propose that we post the entry thread on the 15th of every month, and the drawing will be about 1 week later, whenever the Potential Payout becomes a guaranteed payout. This leaves us with enough time to do an initial test drawing, which can be used to power up this account, while still providing prize $ to the winner.
I am open to any feedback and/or suggestions. Perhaps we should have a main contest with 1 winner, and a second contest with 10 winners? Should we power up this account with a small portion (less than 10%) of the generated steem? Would that help future prize pools grow larger, or am I misunderstanding the power of SP? As for the drawing, is there a way to pull an entire list of upvoters, into a Google Sheets or something, so we can do what we need to do to choose a winner based on provably fair blockchain technology, like the casinos do ? Obviously, we will livestream the drawing when it takes place. Once we have all this figured out (how to pull a list of upvoters, etc) , there will be a test entry thread started on July 1st, with 10 winners, selected once the Potential Payout is realized. This should give us a chance to discover any problems work out any kinks before the first major drawing thread is posted on July 15th.
Please let me know what you think about this idea, any concerns you may have, etc. I hope to see you all in the test drawing, beginning July 1, and I look forward to making 10 people happy with free $ in the first drawing, and seeing hundreds, thousands more happy winners after that!
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Interesting concept. Upvoted and followed.
Welcome to Steemit @millionairemaker :)
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welcome to steemit, hope you have a fruitful experience. follow me for nice and great contents.
Are you also @paltrydigger?
me? no. I wasn't sure if they would pick up the steemit idea so decided to make another millionairemaker drawing on steem. Then, after I got home from work I searched steem for Millionairemaker and discovered your post. I am still trying to figure out how to pull a list of upvoters from a thread so I can make the whole thing work.
Ok well @paltrydigger is the mod who runs the current one on Reddit, hes doing his due dilligence on Steem and considering doing one here as well, I would think since combining them wouldn't make much sense.