Garr's Game -- Possible gain of 7% ROI weekly! -- "Honest Ponzi"

[Garr255]

Game over.

Hey all,

In rememberance of all the ponzis on this forum that claimed not to be, I've decided to go ahead and make an honest one!

Deposits:
In this game, players will deposit a minimum of 1BTC, which will "grow" at the awesome rate of 7% per week, noncompounding. 1% interest is added to your account nightly at midnight PST. The funds will simply sit, not actually growing or producing a sustainable profit. If you want to deposit more than your initial deposit, ask for a different deposit address first.

Withdrawals:
When you withdraw, the money you gain will be sourced directly from new players' depoisits. Withdrawals will be processed within one week of your request for withdrawal (they will typically be same-day).

Endgame:
The game ends when a player requests a withdrawal that cannot be fulfilled. You can help prevent this by getting other people to play! After the end of the game, a spreadsheet including the entire history of the game (excluding usernames) will be posted. If you would like me to anonymize your bitcoin address in this report, just ask and I will replace it with "ANON".

Everyone involved makes money until deposits stop coming in, so do your best to not let that happen

PM me for a deposit address!

Current player count: 4

Legal disclaimer:

Code:

All "deposits" mentioned here will be treated as donations or gifts to the game.
When you want to "withdraw" you will be receiving a donation or gift to your bitcoin address.
Profitability and/or return of funds is not guaranteed. This is a high risk game.
I am not responsible for any amount of any type of monetary gain or loss while playing this game.

[Garr255]

Reserved for updates:

• I've made a balance calculator, get to it here: http://c64.name/calc.html
• Player count added.

[danieldaniel]

I'm in!

You should all send him AL1 UR MONEH!

[SAC]

Endgame:
The game ends when a player requests a withdrawal that cannot be fulfilled.

So who ends up with that final amount, a partial payment on the withdrawal or you?

[danieldaniel]

Endgame:
The game ends when a player requests a withdrawal that cannot be fulfilled.

So who ends up with that final amount, a partial payment on the withdrawal or you?

Maybe he could split it up with all players.  As to minimize losses.

[Jimmy Chang(y)]

RoloTonyBrownTown is going to fucking love this.  Champ.

[Garr255]

So who ends up with that final amount, a partial payment on the withdrawal or you?

There are a few ways we could handle this. How about the one who withdraws gets the remainder of the pot?

[SAC]

So who ends up with that final amount, a partial payment on the withdrawal or you?

There are a few ways we could handle this. How about the one who withdraws gets the remainder of the pot?

That seems like the way to do it.

[danieldaniel]

So who ends up with that final amount, a partial payment on the withdrawal or you?

There are a few ways we could handle this. How about the one who withdraws gets the remainder of the pot?

Sounds good.

[Bitcoin Oz]

This isnt a ponzi its a pyramid scheme 

[danieldaniel]

This isnt a ponzi its a pyramid scheme 

http://en.wikipedia.org/wiki/Ponzi_scheme
"A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation."

[Akka]

http://en.wikipedia.org/wiki/Ponzi_scheme
"A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation."

A hones ponzi is a contradiction.

...

I'm confused.

[danieldaniel]

http://en.wikipedia.org/wiki/Ponzi_scheme
"A Ponzi scheme is a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation."

A hones ponzi is a contradiction.

...

I'm confused.

He means that he's making it public that it's a ponzi.  Other ponzi schemes said they were actually running a business.

[odolvlobo]

This is called a "pyramid scheme" and there is nothing honest about it.

There is no way that I would try to convince my friends to join just so I can take their money because they will no longer be my friends when they lose their money.

Legal disclaimer? LOL. Here is a legal disclaimer you should read:

The Illinois Criminal Code makes it a Class A misdemeanor (prison sentence of one year and $1,000 fine) for any person to knowingly sell, offer to sell, or attempt to sell the right to participate in a pyramid sales scheme.

Every state in the U.S. has a similar law, and just so you know, the law also applies to participants.

As for the definitions, a Ponzi scheme is a type of pyramid scheme. The difference is that the the investors in a Ponzi scheme don't know that it is a pyramid scheme.

[Garr255]

I guess we should stop using the nickname "Ponzi" Because this is not fraudulent in any way.

This is not a pyramid or a ponzi; it is a game where you donate to me and I donate to you when you want to withdraw if there are funds remaining. Plain and simple.

[odolvlobo]

You can call it a gift or a donation, but that won't fool anyone.

[Garr255]

You can call it a gift or a donation, but that won't fool anyone.

I'm not trying to fool anyone -- I'm just using words that enable the legal existence of the game.

If you have a legitimate concern for any players or myself, let me know and if I agree the game will be ended.

Keep in mind I don't do little things like these out of greed or trying to attain money, I do it just for fun. So if this isn't fun to you, simply don't play!

[danieldaniel]

Just withdrew.  A free 7%!

Thanks!

[Garr255]

Bumping! Let's keep this going a bit longer

[🏰 TradeFortress 🏰]

Bumping! Let's keep this going a bit longer

I want to deposit a bitcoin but I feel that would be like 10*ing the entire pot.