[ETH] Wealth Redistribution Contract Experiment - 0% FEES -

[ContractsJust4Fun]

[ETH] Wealth Redistribution Contract Experiment - 0% FEES -

** Please keep in mind this contract is for educational and entertainment purposes only and was created to understand the limitations of ETH contracts. **

The way it works is very simple. Send 1 ETH to:
0x3325439082FF8ba7371DFdAa1AF297bBfcAc21b2

For each ETH that comes in, the contract will redistribute that wealth among everyone who has put in before that.

The only fees taken are the actual GAS fees by the ETH network.

NO FEES GO TO THE CONTRACT CREATOR WHATSOEVER!


By experimenting with this contract, any transaction fees you incur will be sent directly to the MINERS who are securing the ETH network.


Source Code For Contract so you can verify:
https://live.ether.camp/account/3325439082ff8ba7371dfdaa1af297bbfcac21b2/contract


This webpage shows you all stats for this contract:
http://contractsjust4fun.github.io/WealthRedistributionExperiment/


To test the contract for yourself, load up Mist wallet and send 1 ETH to 0x3325439082FF8ba7371DFdAa1AF297bBfcAc21b2

Then send 1 ETH from a different address.

Watch as the first address receives some ETH from the second payment! Fun times!
Now you have 2 spots which will receive ETH every time someone after you sends a payment.


If people continue to experiment with this contract in the future, you could be collecting payments for years to come!


Part of the experiment is to see how many people we can get into the contract before the GAS becomes too expensive for this contract to run.

Feel good knowing all fees generated from this experiment go directly into the hands of the miners helping to secure the ETH network. Too many greedy contract creators on this forum.

Comments, questions, suggestions are all welcome.

[1715375185]

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[1715375185]

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[1715375185]

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[ContractsJust4Fun]

The contract seems to be working flawlessly. The 5th payment just came in and it split it .25 each to the previous 4 addresses.

See it on the blockchain:
http://etherscan.io/address/0x3325439082FF8ba7371DFdAa1AF297bBfcAc21b2#internaltx

One person tried to send .001 ETH and another person tried to sent 20ETH from a contract.
Both of these transactions were rejected and returned, the contract only will accept 1 ETH.

[Maria Jones]

I love it

Can someone create GUI for this?

[Matthias195]

Cool, I tried this one out and it seems to work indeed. 

[Maria Jones]

  ???Can someone create the same but with no-limits on deposits?

[Katatsuki]

???Can someone create the same but with no-limits on deposits?

The last thing we need are more copy paste jobs. Every other thread in this subforum has become a cancerous useless dapp advertisement in the past few days.

[askolein]

Interesting,

Everyone's gain is tending toward 0 asymptotically in theory.

You can do some maths :

If you are the first to play : you will win 2 Eth !
 2th : you will eventually regain your 1 Eth
 3th : 0.66 Eth
 4th : 0.5 Eth
 >10th : you will accumulate 0.2 Eth
 >20th : you will accumulate 0.1 Eth
 and so on ...


I don't get why some people invest many times 1 Eth, it won't increase profit at all.

[Matthias195]

Interesting,

Everyone's gain is tending toward 0 asymptotically in theory.

You can do some maths :

If you are the first to play : you will win 2 Eth !
 2th : you will eventually regain your 1 Eth
 3th : 0.66 Eth
 4th : 0.5 Eth
 >10th : you will accumulate 0.2 Eth
 >20th : you will accumulate 0.1 Eth
 and so on ...


I don't get why some people invest many times 1 Eth, it won't increase profit at all.

euh, that isn't true?

You keep accumulating forever. Its not capped at 2 ETH or 1 ETH or 0.66 ETH

And having multiple times a 1 ETH investment just increases your overall return  

[askolein]

Interesting,

Everyone's gain is tending toward 0 asymptotically in theory.

You can do some maths :

If you are the first to play : you will win 2 Eth !
 2th : you will eventually regain your 1 Eth
 3th : 0.66 Eth
 4th : 0.5 Eth
 >10th : you will accumulate 0.2 Eth
 >20th : you will accumulate 0.1 Eth
 and so on ...


I don't get why some people invest many times 1 Eth, it won't increase profit at all.

euh, that isn't true?

You keep accumulating forever. Its not capped at 2 ETH or 1 ETH or 0.66 ETH

And having multiple times a 1 ETH investment just increases your overall return  

Every participant will asymptotically have a certain amount a Eth, no?

[askolein]

I mean,

if you invest 1 ETH now, you will never have more than 0.3 ETH  at the end ! Maths.

[Matthias195]

I mean,

if you invest 1 ETH now, you will never have more than 0.3 ETH  at the end ! Maths.

No. I think you are misinterpreting the rules somewhere.
Remember: Everyone who has deposited will receive a small part of every new deposit.

So you are totally wrong on that 0.3 ETH, I don't know where you're taking that from.

I just did the calculations
and if you invest now,
it will only take 6 entries after you ( = 70 dollars in deposits from other people) to reach that 0.3 ETH that you are talking about.
That's hardly the upper limit or the end, to say the least.
And it'll take a total of 230 dollars in deposits to break-even.
Everything that comes after that, is pure profits....

To put this in perspective:
The previous ETH pyramid I've participated in here on Bitcointalk has 76 000 dollars in deposits after 7 weeks (and is still ongoing...).
And with this pyramid here (online since yesterday), the person who's going to send an entry right now, right after me writing this post,
will only have to wait for 230 dollars to be deposited after him, before he breaks-even.

Everything that comes after that, is pure extra profits for this guy.

So if another 75 000 dollars would happen to come in like with the other pyramids, this person who deposits now
will be getting a nice part of that 75,000 USD, for a mere 1 ETH (= 11.5 USD)  investment.

This pyramid right here has just launched this weekend (only 1 day online) and has received about 187 USD in deposits so far,
with a potential of reaching 76,000 like that other pyramid.
If this pyramid only reaches 1 % of the success of the other biggest one here on this forum-section on Bitcointalk,
this already gives a great profit for those depositing right now.

So you are making a big mistake / miscalculation somewhere...

[askolein]

Yeah i understood my error. You are right



However, let's make some forecasting :

We assume there is 20 people already in at the time i post this.

If you invest now 1 ETH,

it will take 30 more participations to reach the 1 ETH you invested (1/20+1/21+...+1/52)

To reach 2 Eth: 120 more participations from now !
To reach 3 Eth: 370 more participations from now !
To reach 4 Eth: 1000 more participations from now !

Going over 6/7 Eth is not very likely as it would need more than 50000 participations...



And we didn't talk about transaction fees:


Let's find the moment where all the transactions costs surpass 1 Eth ( approximative )
n*0.005>1 ETH=> n>200

The contract will fail and keep failing after the moment we reach 200 Eth invested.

This contract, if it never ends, will give you in the average 2.5 ETH if you invested 1 ETH, not a lot more.
Only the 4th first participants will go over 4 ETH.




Everything said here is approximative, especially for the transactions costs.



PS : there is something interesting in the code, translated to be clearer as :

for k=0 to n do :
   transactionAmount=1/n
   pay  participant[k] with 1/n ether
  

As the first participants are paid first, the transactions that will fail first will belong to users that came in late. Just a detail.

[Matthias195]

Well, that's the definition of a pyramid, isn't it 

[ContractsJust4Fun]

Here is a webpage that shows you all of the stats for this contract:
http://contractsjust4fun.github.io/WealthRedistributionExperiment/

It shows each address participating in the experiment, how much they've earned so far, and what their next payout will be.

re: 200 ETH limit, is that really true?
even if the gas costs more than 1 ETH, it will just take you longer to profit, but the contract will still split the 1 ETH across all addresses evenly. The webpage should help you better visualize the potential of this contract.

[DustBluster]

I like the novelty and experimental nature of this one.  The risk is low and the behavior is different from standard ponzi contracts.  I'm curious to see what kind of response this gets.  I think it'll be entertaining to watch it generating increasingly fractional payments with every new entry.

[askolein]

At a time, all outgoing transactions will fail.

what happens from this point?

[Matthias195]

Here is a webpage that shows you all of the stats for this contract:
http://contractsjust4fun.github.io/WealthRedistributionExperiment/

It shows each address participating in the experiment, how much they've earned so far, and what their next payout will be.

re: 200 ETH limit, is that really true?
even if the gas costs more than 1 ETH, it will just take you longer to profit, but the contract will still split the 1 ETH across all addresses evenly. The webpage should help you better visualize the potential of this contract.

Wow this is cool,
nice to see you made a GUI for this pyramid

[Tdecha]

Indeed the GUI is simple and clear, nice !! 

[Maria Jones]

We need to create the same, but with any amounts.

Indeed this is interesting - lets see how it will work with diversified deposits

[etherauction]

We need to create the same, but with any amounts.

Indeed this is interesting - lets see how it will work with diversified deposits

Alternative suggestion: If you required each payout to be the same, so each deposit is the payout multiplied by the number of existing users, each player would get their initial deposit back once the total number of players had doubled.