[ETH] >1000ETH jackpot!! New DAPP - "Governmental" Government simulation

[g0vernmental]

Hey - yet another Ponzi. But is has a twist that should make it more interesting. Usually in a Ponzi you invest in the hope that people invest after you. So if you invest late payout takes longer time until no one is willing to invest. So I added a nice twist - in this Pozi you can win 2 ways: a) enough people invest after you so that you get your money back +10% OR: no one invests after you (for 12h) then you win a big jackpot of >1000ETH. So you should invest because you win both ways - a) people invest after you (you get +10% back) or b) no one invests after you - you win 1000ETH.

http://governmental.github.io/GovernMental/
You need to run a geth (or other node) with rpc to view the status. Of course the contract can be viewed and verified here: https://etherchain.org/account/0xF45717552f12Ef7cb65e95476F217Ea008167Ae3#code

Over 1600ETH have already been payed out: https://etherscan.io/address/0xF45717552f12Ef7cb65e95476F217Ea008167Ae3#internaltx

Let me know what you think!
https://i.imgur.com/vvOfK8Z.jpg

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[Sileniced]

So it took two weeks to pay out 55 eth. It's slow, but it hasn't stopped yet. Impressive.

[g0vernmental]

So it took two weeks to pay out 55 eth. It's slow, but it hasn't stopped yet. Impressive.

There are two ways to look at it: first: if you think it will stop soon - then chances are good to get the 1100 ETH jackpot - however - we believe it will be around for month and even if it takes some time it will eventually pay out. We are going to improve it soon so that users can see what is going on without a geth node. We will also integrate shapeshift so that it will be easier for Bitcoin user to use it. With more money going in payouts will accelerate.

Our goal must of course be that it will run for way more time - until now we made not even 10% of the 1000ETH we put in it - so we will start advertising it more to get our initial investment back.

[Rytharr]

I'm pretty amazed at how dedicated some people are to this one.  Payouts are small and slow, but with that 1k carrot it just keeps going. I came within 1min of that damn jackpot lastweek.

[g0vernmental]

So the 4 50ETH blocks are finally payed out - now payouts will go much faster because now it it only filled with 1ETH (1.1ETH) payouts.
The "carrot" is now 1100ETH and it will keep the Ponzi alive for a LONG time.

[anderl]

you had me at ponzi.

[g0vernmental]

Well, we don't want to be dishonest. We will not say something like: this is an investment thing or that payouts are guaranteed or other BS. It is a ponzi - but a fun one that will either keep paying out or will explode at some point and pay out a big jackpot to the last participant. 

[Sileniced]

Don't tell me that over 1000 ether is now STUCK in the contract right?

[DustBluster]

It looks like Governmental is stuck, at least temporarily.  The last successful player is due the jackpot of 1,098.6932 ETH (!!!!!!!!!!!!!!!!!).  Etherscan.io reveals multiple attempts to pay them out, however all transactions since that player have failed. 

When I try to send a transaction with a large gas limit, I get the message "Exceeds block gas limit".  As I understand it the block gas limit is a hard cap on how much gas can be spent on a single transaction and any transaction requiring more will always fail.  The block gas limit changes over time, so it may be possible some day to execute another transaction on Governmental, but not until that limit increases substantially enough.