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The max for tier 1 is 10000, no more large amounts.
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Inherently by definition
A Ponzi scheme (/ˈpɒn.zi/; also a Ponzi game) is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources.
The reason I don't call this a 'ponzi', is because it has legitimate sources IE the block rewards.
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Again the queue has filled up. It will slowly build funds until they can be paid out. It may take some time...
this PONZI ? if you read the ann. page you see that the funds from the rtrust come from mining, since every block found gives 50 coins into the rtrust At this point it will be 5+ days before mining can pay the unpaid. Very little point in sending in more Tier 1 coins. Actually no, with the minimum buy in at 50,000. Assuming there is 1440 blocks in 1 day at 60 second intervals 50x1440=72000 Thats more than enough to pay out assuming no new people send in. The transaction last night was for 150,000 and still got paid out in a few hours. The more that is sent in, the faster the queue will go. There is no need for new people to send in, This queue will be completely empty within a few hours. 3000 Coins come in every hour. Actually yes. Using your best case scenario figure of 72,000 coins a day, you have an unpaid total of 418731/72,000=5.8 days You assuming that no funds come in and everything is completely halted. Regardless, the queue will empty. It might take longer than normal, but regardless, it will empty. Guaranteed. If you are using funds people deposit to pay off earlier depositors, that by definition is a PONZI. If you are only using the 50 coins per block and transaction fees, then it isn't an outright ponzi. So which is it? Also you are fast approaching block halving and thus 25 coins per block instead of 50. When I used the figure of 5+ days to get the unpaid people paid, I was being rather generous if the rtrust only gets coins from mining rewards and fees. If it is a PONZI, then everyone could be paid quickly or not at all. I suspect you will very soon see miners stopping. I know I already did. It's absolutely not a PONZI if there is forecasted revenue that will exceed the accounts payable. There's nothing saying he can't use mined coins to balance the budget either. That's why I wouldn't make the wager. Once the initial big block mining phase is over, things will be balanced. Its somewhat both in this sense. It is using the new investors to pay the old, and also the block rewards and fees. But any traditional "ponzi" will collapse when the funds completely stop coming into the system. This won't, it will simply take longer than expected, which was all foretold prior to this. The payout time frames are minimum time frames. That a queue would be built, and eventually everyone still gets paid. Everyone CAN stop sending in, but everyone WILL still get paid. |
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Again the queue has filled up. It will slowly build funds until they can be paid out. It may take some time...
this PONZI ? if you read the ann. page you see that the funds from the rtrust come from mining, since every block found gives 50 coins into the rtrust At this point it will be 5+ days before mining can pay the unpaid. Very little point in sending in more Tier 1 coins. Actually no, with the minimum buy in at 50,000. Assuming there is 1440 blocks in 1 day at 60 second intervals 50x1440=72000 Thats more than enough to pay out assuming no new people send in. The transaction last night was for 150,000 and still got paid out in a few hours. The more that is sent in, the faster the queue will go. There is no need for new people to send in, This queue will be completely empty within a few hours. 3000 Coins come in every hour. Actually yes. Using your best case scenario figure of 72,000 coins a day, you have an unpaid total of 418731/72,000=5.8 days You assuming that no funds come in and everything is completely halted. Regardless, the queue will empty. It might take longer than normal, but regardless, it will empty. Guaranteed. If you are using funds people deposit to pay off earlier depositors, that by definition is a PONZI. If you are only using the 50 coins per block and transaction fees, then it isn't an outright ponzi. So which is it? Also you are fast approaching block halving and thus 25 coins per block instead of 50. When I used the figure of 5+ days to get the unpaid people paid, I was being rather generous if the rtrust only gets coins from mining rewards and fees. If it is a PONZI, then everyone could be paid quickly or not at all. I suspect you will very soon see miners stopping. I know I already did. 50 coins from every block, regardless of the block reward. |
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Again the queue has filled up. It will slowly build funds until they can be paid out. It may take some time...
this PONZI ? if you read the ann. page you see that the funds from the rtrust come from mining, since every block found gives 50 coins into the rtrust At this point it will be 5+ days before mining can pay the unpaid. Very little point in sending in more Tier 1 coins. Actually no, with the minimum buy in at 50,000. Assuming there is 1440 blocks in 1 day at 60 second intervals 50x1440=72000 Thats more than enough to pay out assuming no new people send in. The transaction last night was for 150,000 and still got paid out in a few hours. The more that is sent in, the faster the queue will go. There is no need for new people to send in, This queue will be completely empty within a few hours. 3000 Coins come in every hour. Actually yes. Using your best case scenario figure of 72,000 coins a day, you have an unpaid total of 418731/72,000=5.8 days There's no best case scenario, there's going to be +/- 72,000 coins a day. It might be 70k it might be 74k. You just said 5.8 days according to his math, and he said 5+ days. I bet every pending transaction, is paid out by the morning. Would you care to make a wager ? I wouldn't make that wager. I bet every pending transaction, is paid out by the morning. In the sense no new funds come in, he is right. It will take 5~ days for the queue to completely empty out. As long as no one else sends in coins. No transaction has been stuck in the queue more than a few hours. Currently your talking about a pending transaction for a few thousand. The transaction last-night took 3~ hours, and it was a lot larger than the current pending ones. According to your math, it should have taken 15 days to pay out that transaction. I have been watching the system pretty close, and I haven't seen any last more than a few hours. |
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Again the queue has filled up. It will slowly build funds until they can be paid out. It may take some time...
this PONZI ? if you read the ann. page you see that the funds from the rtrust come from mining, since every block found gives 50 coins into the rtrust At this point it will be 5+ days before mining can pay the unpaid. Very little point in sending in more Tier 1 coins. Actually no, with the minimum buy in at 50,000. Assuming there is 1440 blocks in 1 day at 60 second intervals 50x1440=72000 Thats more than enough to pay out assuming no new people send in. The transaction last night was for 150,000 and still got paid out in a few hours. The more that is sent in, the faster the queue will go. There is no need for new people to send in, This queue will be completely empty within a few hours. 3000 Coins come in every hour. Actually yes. Using your best case scenario figure of 72,000 coins a day, you have an unpaid total of 418731/72,000=5.8 days There's no best case scenario, there's going to be +/- 72,000 coins a day. It might be 70k it might be 74k. You just said 5.8 days according to his math, and he said 5+ days. I bet every pending transaction, is paid out by the morning. Would you care to make a wager ? In the sense no new funds come in, he is right. It will take 5~ days for the queue to completely empty out. As long as no one else sends in coins. No transaction has been stuck in the queue more than a few hours. Currently your talking about a pending transaction for a few thousand. The transaction last-night took 3~ hours, and it was a lot larger than the current pending ones. According to your math, it should have taken 15 days to pay out that transaction. I have been watching the system pretty close, and I haven't seen any last more than a few hours. |
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Again the queue has filled up. It will slowly build funds until they can be paid out. It may take some time...
this PONZI ? if you read the ann. page you see that the funds from the rtrust come from mining, since every block found gives 50 coins into the rtrust At this point it will be 5+ days before mining can pay the unpaid. Very little point in sending in more Tier 1 coins. Actually no, with the minimum buy in at 50,000. Assuming there is 1440 blocks in 1 day at 60 second intervals 50x1440=72000 Thats more than enough to pay out assuming no new people send in. The transaction last night was for 150,000 and still got paid out in a few hours. The more that is sent in, the faster the queue will go. There is no need for new people to send in, This queue will be completely empty within a few hours. 3000 Coins come in every hour. Actually yes. Using your best case scenario figure of 72,000 coins a day, you have an unpaid total of 418731/72,000=5.8 days You assuming that no funds come in and everything is completely halted. Regardless, the queue will empty. It might take longer than normal, but regardless, it will empty. Guaranteed. |
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Again the queue has filled up. It will slowly build funds until they can be paid out. It may take some time...
this PONZI ? if you read the ann. page you see that the funds from the rtrust come from mining, since every block found gives 50 coins into the rtrust At this point it will be 5+ days before mining can pay the unpaid. Very little point in sending in more Tier 1 coins. Actually no, with the minimum buy in at 50,000. Assuming there is 1440 blocks in 1 day at 60 second intervals 50x1440=72000 Thats more than enough to pay out assuming no new people send in. The transaction last night was for 150,000 and still got paid out in a few hours. The more that is sent in, the faster the queue will go. There is no need for new people to send in, This queue will be completely empty within a few hours. 3000 Coins come in every hour. Perhaps the min amount should be lowered a little more to prevent this problem from occurring at all? |
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Again the queue has filled up. It will slowly build funds until they can be paid out. It may take some time...
this PONZI ? if you read the ann. page you see that the funds from the rtrust come from mining, since every block found gives 50 coins into the rtrust At this point it will be 5+ days before mining can pay the unpaid. Very little point in sending in more Tier 1 coins. Actually no, with the minimum buy in at 50,000. Assuming there is 1440 blocks in 1 day at 60 second intervals 50x1440=72000 Thats more than enough to pay out assuming no new people send in. The transaction last night was for 150,000 and still got paid out in a few hours. The more that is sent in, the faster the queue will go. There is no need for new people to send in, This queue will be completely empty within a few hours. 3000 Coins come in every hour. |
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Again the queue has filled up. It will slowly build funds until they can be paid out. It may take some time...
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Tier 1 limit is going to be reduced to 50k, due to that large TX from lastnight halted the entire queue for an hour or more. The limit needs to go down to continue the flow at a steady pace.
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It has only been a few days. I would say be patient and see where the flow goes... If anyone has questions it is much better to contact me via slack, so come join us. slack.returnbit.comIf you want to stay updated follow me on twitter, join our slack. Its more difficult for me to login here to post updates, than slack or pushing them out over twitter. |
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100.54%  small Actually its not. Thats .5% an hour, or roughly 12% daily. It's actually quite high...for only 60 confirmations, which is a little under an hour. |
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I have a 5000 RBIT bounty for a block explorer. If anyone can make it happen or find a service that offers a block explorer, I will pay you 5k RBIT to get it setup, and done today.
Anyone care to take up this offer?
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Does anyone actually read the OP?
Why pay for listing when you can be patient and get listed for free???
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Cool coin, you should do another ICO round.
I would have to set aside funds from rTrust for this. Assuming that is ok with everyone else. |
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Couple of things..........
1: your site doesn't offer me a way to sign up.
2: The info on your site says "50% of every block that is mined & all tx fees are sent into rTrust." Says 50%, not 50 coins from every block.
Nice catch i will put 50 coins instead of 50%, and you dont need to sign up for anything as there is no point, The registration only existed for the ICO which has passed so unless you have participated in the ICO you dont need an account. |
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When of investments are offered Tier-1 is ended?
Tier 1 has just opened. The ICO has ended. returnbit.com/Tier1 |
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Im raising the limits on the amount to send in because of bloating. It makes it easier to look at.
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Please check you inbox messages dev  Already sent. |
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