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Author Topic: First round of Fomo3D has ended  (Read 400 times)
xilatleo
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August 29, 2018, 05:36:27 PM
 #21

I don't know why people even consider participating in this
the chances to win are close to zero (thats even if the game is legit which I doubt)
typical greed based ponzi style game which is now in abundance, but this one managed to get 3+ mil worth of ether somehow
to me its just an elaborate scam with the creators able to take the win this way or another while the rest simply donate their eth for nothing
find a better way to spend your crypta, please

If you can answer why people buy into PowerBall or Megamillion in US even that the probability of them winning is even  lower than their chance to be the next USA president, you can answer this question.  Grin
xilatleo
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August 29, 2018, 05:42:24 PM
 #22

First round of Fomo3D has ended, did you guys invest?? How do you guys feel !?

Wow, so it ended a lot sooner than I thought. What was the final numbers? The last time I checked it was more than $10 million worth of ETH but I can't recall what price that was or how many ETH. Ether has dropped in price since.

Current with pre-seed is 1.2 k ETH, and looks like there is also a quick round ending in 3 minutes with 0.13 ETH in the pot.

Always curious to see how people performed in this type of new smart contract gambling game.
Tried to find that Round 1 history but i cant find the exact number of ETH or pot and now they are in round 2 having an active Pot of 6,746.22 ETH which is really huge.
I didnt even expect that the 1st round already ended because on these kind of games this will push you through your limits  Grin

Yeah, this is why I still stay away from all these games. I haven't tried all the smart contract ones but similar games where there is a timer and you refresh the timer by betting more into it. I used to think ok if I have a big balance I can trick people, so I won a few but it dragged me in and I lost everything because a whale was waiting to trick me.

I also didn't think Round 1 would end so quickly. Guess the devs are now enjoying to the limits!
Im not in doubt about the fairness or the distribution of funds or winnings yet these are based on smart contract which you can assure that this is indeed fair but the main issue i do see on these kind of games is the duration itself.If you are a whale then this game might be for you but if not then its better not to risk out but i cant deny this game is indeed unique.

Right, and wrong. Why people billionaire or millionare out there dont play powerball? Because the chance of losing money is greater than the chance of them winning. Even they can spend millions to buy millions tickets but how does it feel if a people win with only 1 ticket.  Grin
earnadoge
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August 29, 2018, 10:49:48 PM
 #23

Thanks to earnadoge for sharing that information. I wonder if investing in the dividend tokens early or late has a difference, as in, do you earn a share of dividends from the point onwards of investing or do you only get it once the round is over? I assume it is based on regular distribution of the pot, in which case if you get in early and people start playing more you earn more?

Strange results, but yes, experimenting with smart contracts and gambling is interesting. I guess I can conclude at least now if you don't have that much Ether, better not to play!

Well there are three sections, the one I'm testing is dividents, so the way I understand it everyone who has the coins at the time new coins are purchased, gets a cut from that purchase, because the new purchase has ten percent fee.  As far as I know this section has no end of round.  The other two sections are like a lottery, so their is an end of round, and it gets started again.  I checked my dividents page and its 0.0002 now, yesterday was 0.0001.
https://prnt.sc/kofkfa

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August 30, 2018, 06:07:27 AM
 #24

Hey guys,

Am I the only one reading that stuff and thinking that even if the smart contract is working alright, there is always a way to rig the game? Smiley

https://medium.com/coinmonks/how-the-winner-got-fomo3d-prize-a-detailed-explanation-b30a69b7813f

Maybe somebody more technical can explain it simpler, but the way I see it, the winner basically was constantly checking who holds the key and when the round is ending, then once he was the one that got the last key, he prevented any other transactions from coming in by jacking up the gas, so miners would work on his blocks first and nobody else's transaction can reach the game, before the round has ended.

He probably tried this multiple times in a row in the past and only this time he was successful, so it also means that should be somebody that has enough dough to spend, in order to support an operation like this.

At the end of the day, the jackpot wasn't won just out of sheer luck and the system was "gamed" with chances of success inflated much higher. In cases like this, a traditional online Casino would probably withhold the payout and probably add the bulk of the funds to the next jackpot, but here not much can be done I guess. Don't get me wrong, you gotta love the hustle, it's just s*it when other players think they got a fair chance.

What do you guys think?

P.S: just a real-world betting comparison:

If this was a basketball game, the actions of the guy would be equivalent to betting on an exact result (say 90:88) in all current round games at ridiculously high odds, then once a game eventually gets to that score, switching off everybody's internet and bribing the ref to not allow any more points to be scored Smiley
veleten
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August 31, 2018, 10:04:52 AM
 #25

I don't know why people even consider participating in this
the chances to win are close to zero (thats even if the game is legit which I doubt)
typical greed based ponzi style game which is now in abundance, but this one managed to get 3+ mil worth of ether somehow
to me its just an elaborate scam with the creators able to take the win this way or another while the rest simply donate their eth for nothing
find a better way to spend your crypta, please

If you can answer why people buy into PowerBall or Megamillion in US even that the probability of them winning is even  lower than their chance to be the next USA president, you can answer this question.  Grin

well at least there they have some sort of hope
and they think (and probably rightfully so ) that the whole thing is not rigged
besides they can win not the 6 numbers ,but hit a lower tier prize and to many its like a habbit
just spend a couple of dollars every week or so and hope for better Smiley

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BTCevo
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September 01, 2018, 03:51:54 AM
 #26

Actually the explanation was quite good on your shared link but the thing here is, why whould he do this? First, this is their money to put into this from the start so if he got all his money back, then what? It is not something like big money that he got there. Second thing, if they really get some profit from them, I think it must only some ether not as much as he got like 10k which is crazy. I am not trying to suspect OP or defending him, just telling MHO
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