71–80 of 306 posts
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he probably funded the first 10-100 btc, 20% profit. do the math.
are you sure 20% profit is the right number? Imagine two people use it, and they both pay 1 BTC. Time | Event 1 | First person pays 1 BTC 2 | Second person pays 1 BTC 2 | First person gets paid 1.2 BTC The creator makes .8 BTC in this case. Pretty solid return if you ask me.
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Because it's interesting?
"On-Topic: Anything that good hackers would find interesting. That includes more than hacking and startups. If you had to reduce it to a sentence, the answer might be: anything that gratifies one's intellectual curiosity." - I maintain that a "good" hacker wouldn't find a blatant scam interesting. Especially not "just because it uses bitcoin".
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It's brilliant, and it will work, and continue to work until people don't believe in it.
I love how people send over $1000 to this site. Why not play poker if you have that much money to spend on gambling? Or, you know, buy an instrument and learn something beautiful?
Do you not understand how gambling works?
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"On-Topic: Anything that good hackers would find interesting. That includes more than hacking and startups. If you had to reduce it to a sentence, the answer might be: anything that gratifies one's intellectual curiosity." - I maintain that a "good" hacker wouldn't find a blatant scam interesting. Especially not "just because it uses bitcoin".
It's beyond blatant; it's unabashed and self-aware. That's interesting - who would make such a thing? Who would pay into it? Will it still work even when people know what it is?
"All of our activity is is open and public on the blockchain. It's impossible for us to cheat anyone out of their payout without everyone knowing." - completely ignores the point. 15% of the people who put money in WILL lose all of it. Period.
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What do you mean a joke? Looking at the blockchain, it seems to be a full fledged, serious, Ponzi scheme. They're taking in BTC and paying it out again to the early investors. EDIT: +1 to ryanjshaw for showing the blockchain: https://blockchain.info/address/1ponziUjuCVdB167ZmTWH48AURW1...
wow did not expect that, my bad... I just glanced over and saw all the automated responses and figured it's a joke. I'm actually still not convinced it's not an elaborate joke
Earlier quoted context omitted.
he probably funded the first 10-100 btc, 20% profit. do the math.
are you sure 20% profit is the right number? Imagine two people use it, and they both pay 1 BTC. Time | Event 1 | First person pays 1 BTC 2 | Second person pays 1 BTC 2 | First person gets paid 1.2 BTC The creator makes .8 BTC in this case. Pretty solid return if you ask me.
Time | Event
1 | First person pays 1 BTC
No one finds this repulsive? People will lose money to this. Yes, they are dumb, yes it is obvious. But those who participate are still morally complicit. Enabling others who suffer from serious issues (addiction, gambling) seems like a pretty shitty thing to do.