A No-Loss Lottery (pooltogether.us)

7 points by rbanffy 7y ago ↗ HN

5 comments

[ 5.2 ms ] story [ 16.1 ms ] thread

This is very interesting. Seems like a good way to get people to save.

Some banks even offer savings account that do the same thing - https://en.wikipedia.org/wiki/Prize-linked_savings_account

FearNotDaniel 7y ago ↗

So, much like a Premium Bond, then. These have been issued by the UK government since 1956, using an "electronic random number generator" that originally used vacuum tubes as a source of randomness...

https://en.m.wikipedia.org/wiki/Premium_Bond

JaleDarvis 7y ago ↗

The crypto articles are coming in fast.

GreenJelloShot 7y ago ↗

If lending money on compound.finance is a 100% safe and guaranteed way to make money, why bother joining the pool? Why not just directly lend your own money yourself and get 100% of the profits 100% of the time?