191–200 of 306 posts
Earlier quoted context omitted.
I mean that fiat will continue to work as long as people believe in it. Social security, now that I think about it, does sound much like a Ponzi scheme.
Populations grow exponentially, and the whole population is required to pay into SS.
Earlier quoted context omitted.
What makes you think it ended? People are still paying in and it appears to still be paying out.
I'm looking at the huge text on the home page saying "The experiment is over." If that can't be trusted, then why in the world would anyone expect to receive a payout at this point (as if it weren't already incredibly risky)?
Should have known! Like ten minutes before I expected 1.2x to be gathered and my payout to be done, the site reports "The experiment is over." Come on guys, just let it run. I would have accepted it if it just 'died of natural causes' and I lost all I put in (which is not much, 0.03); that was my gamble. Not that you'd pull the plug. Somehow their pulling the plug just really bothers me much more than losing it would…
Also, where does it say the experiment has ended? I don't see that on the page, and the chat is still lively. [Edit: Now I see that]
The experiment is over. We will pay back everyone we can. We are not making money from this. And it's down.
I'm curious - anyone know what happened to cause the (inevitable) end? From what I can tell, it doesn't seem to be the lack of new interest/money. Possibilities I can think of: - Author got scared (of legal repercussions) - Author got greedy (pocketing much of the last deposits) - For some reason (research?) it was intended from the beginning to only run to a certain point - Technical scaling issues Anyone know?
Should have known! Like ten minutes before I expected 1.2x to be gathered and my payout to be done, the site reports "The experiment is over." Come on guys, just let it run. I would have accepted it if it just 'died of natural causes' and I lost all I put in (which is not much, 0.03); that was my gamble. Not that you'd pull the plug. Somehow their pulling the plug just really bothers me much more than losing it would…
I think you misunderstand how ponzi schemes work.
Should have known! Like ten minutes before I expected 1.2x to be gathered and my payout to be done, the site reports "The experiment is over." Come on guys, just let it run. I would have accepted it if it just 'died of natural causes' and I lost all I put in (which is not much, 0.03); that was my gamble. Not that you'd pull the plug. Somehow their pulling the plug just really bothers me much more than losing it would…
https://blockchain.info/address/14ji9KmegNHhTchf4ftkt3J1ywmi...
And, they seem to be paying again, so there's still hope. Obviously the (half) shutdown (half) stopped the inbound flood, so there was damage done.
Should have known! Like ten minutes before I expected 1.2x to be gathered and my payout to be done, the site reports "The experiment is over." Come on guys, just let it run. I would have accepted it if it just 'died of natural causes' and I lost all I put in (which is not much, 0.03); that was my gamble. Not that you'd pull the plug. Somehow their pulling the plug just really bothers me much more than losing it would…
> At the rate at which it was going, payout was more or less ensured (300btc * 1.2 = 360. They quit 16 coins short) I think you misunderstand how ponzi schemes work.
EDIT: I will, then. If when he put money in when there was a total deposit of 300, the total owed by the system was 300 * 1,2 = 360. So it would all be payed when the total deposit of 360; he considered that at the rate it was going at the moment it would have been reached quickly (here is the gamble) but instead they closed the site 16 BTC short of that target.
Are you sure you did understand? Or am I on the wrong path?