LAMBOWEI.COM | Interactive art on the blockchain, EARN X2 THIS CHRISTMAS!

[Lambowei]

Hi guys, lambowei.com is my first Vyper (Ethereum) project (twitter here). It's a frame with a digital display. In order to change the image you need to place a bid. Each bid is x4 the previous bid, and it gives a x2 return to the previous bidder. I will be matching your bids all Christmas and beyond. I already announced the project in reddit and got my first bid, which I've matched already.

This is a physical piece of art that represents everything good in the Blockchain world. You have high risk, and high reward, but you need trust as well and for that you need time. I am still building the physical frame with an Arduino and an eInk display, but the contract and web are live and running!

How Lambowei works:

There's an Ethereum contract. There's a physical frame with a digital display that shows the image attached to the last bid, that is the Lambowei. The owner of the Lambowei is also the owner of the Ethereum address that controls the contract and can withdraw the monies deposited in the contract. This means that the Lambowei is at least worth as much as the contract, and because of that in order to materialize the value of the Lambowei it's not necessary to withdraw the money, you can sell the Lambowei instead.

I think the blockchain space can do with a bit more trust. I dare you to trust me: I, the owner, will never withdraw money from the Lambowei. I might sell it but only to a reputable museum or art gallery, years down the road. The first person to trust me has already received twice as much as he's invested and got to choose the first image of the Lambowei for quite a good price (0.01 ETH).



Place a bid and become part of the Lambowei, if you can.

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[Lambowei]

So while you guys were asleep, Lambowei went from zero to 0.01 to 0.056... (a couple more times) to about 9 ETH. The rise and rise of the Lambowei.

[tippytoes]

So while you guys were asleep, Lambowei went from zero to 0.01 to 0.056... (a couple more times) to about 9 ETH. The rise and rise of the Lambowei.

How do we know that the owners of eth addresses are not connected with each other? I mean, who knows, only one person owns all of that addresses. Tracing addys via etherscan is not effective anymore as you can create eth addys as many as you can without being connected with each other? And as you said, only time will tell to trust this project.

[milewilda]

Do you really believe that there would be someone who would believe to these words? lol

Trust And Time
"As the author, I commit not to withdraw money from the contract, and to sell the Lambowei only to museums / art galleries to preserve it."

[Avirunes]

This is a Ponzi and no one believes such shit. You are the one probably depositing in the contract address to make it look fair and legit.

Let's see. This is your contract address: https://etherscan.io/address/0xCBca2d544643083cfcDB8885F8dDb39b6b747609

Contract address creator is https://etherscan.io/address/0x447aa1d45bb0f5be086dc0b25d2e59518689da8e

And one of the player is 0x2F30E781ac416Dacb74198CbF64A7A4c07daC50D

And both 0x447aa1d45bb0f5be086dc0b25d2e59518689da8e and 0x2F30E781ac416Dacb74198CbF64A7A4c07daC50D receives some funds from the same address which makes it suspicious that you are also the one playing and pushing the bid. I am suspicious that other depositors are also you.

Anyway it's a dumb game and wouldn't find any interest. Keep playing it yourself.

[The Cryptovator]

No doubts its ponzi scheme since OP already mentioned that previous bidder will get 2x from new bidder. What will happen if there is no new bidder after 1 bid? Your unique idea isn't going to work for you. This is the worst idea ever I have seen to raised money. Those arts have been added, I don't think any reputed museum will buy it. On that case I am fully agree with @Avirunes, you are just biding yourself in order to attract peoples. But investors become more quite conscious now, and likely they will avoid such as shady game.

There is no guarantee for new investors that how they would get return money, but when someone going to bid means he is going to pay previous bidder. So how a investors would sent money such as unconfirmed ponzi scheme?

[jazmuzika217]

I think there are some point in this project that you will be thinking if it is not legit project because on it s offer and because on how they describe about their project. But for me it bring too much fun and excitement even if this project is too close of being scam because this is the real gambling,have too much of risk.

[Lambowei]

How do we know that the owners of eth addresses are not connected with each other? I mean, who knows, only one person owns all of that addresses. Tracing addys via etherscan is not effective anymore as you can create eth addys as many as you can without being connected with each other? And as you said, only time will tell to trust this project.

Well you can't know for sure I guess, but I believe the first bid was from this reddit user and I don't know him from anything at all.

Do you really believe that there would be someone who would believe to these words? lol

Trust And Time
"As the author, I commit not to withdraw money from the contract, and to sell the Lambowei only to museums / art galleries to preserve it."

And I haven't broken my word. This is a blockchain art experiment, the idea that the Lambowei (the physical piece of art) is at least as valuable as the contract is realized through the fact the owner has access to the contract's value.

This is a Ponzi and no one believes such shit. You are the one probably depositing in the contract address to make it look fair and legit.

It's your opinion, but I disagree. In the end there's a physical good, the Lambowei, that the owner can sell and reimburse the last bidder and still the owner wouldn't have had to withdraw anything from the contract.

Let's see. This is your contract address: https://etherscan.io/address/0xCBca2d544643083cfcDB8885F8dDb39b6b747609

Contract address creator is https://etherscan.io/address/0x447aa1d45bb0f5be086dc0b25d2e59518689da8e

And one of the player is 0x2F30E781ac416Dacb74198CbF64A7A4c07daC50D

And both 0x447aa1d45bb0f5be086dc0b25d2e59518689da8e and 0x2F30E781ac416Dacb74198CbF64A7A4c07daC50D receives some funds from the same address which makes it suspicious that you are also the one playing and pushing the bid.

Good guess, but that only would mean I've outbid some lucky bidders.

I am suspicious that other depositors are also you.

That's a fair suspicion, however it's just not true.

Anyway it's a dumb game and wouldn't find any interest. Keep playing it yourself.

Good luck.

No doubts its ponzi scheme since OP already mentioned that previous bidder will get 2x from new bidder. What will happen if there is no new bidder after 1 bid?

I could sell the Lambowei (the physical piece of art with the digital display) and reimburse the last bidder. But yes, it's a high risk (but high reward) gamble.

Your unique idea isn't going to work for you. This is the worst idea ever I have seen to raised money. Those arts have been added, I don't think any reputed museum will buy it. On that case I am fully agree with @Avirunes, you are just biding yourself in order to attract peoples. But investors become more quite conscious now, and likely they will avoid such as shady game.

Obviously I disagree. Right now it only represents the high risk/reward factor, but over time as the contract stays and the owner refuses to withdraw anything, this could become a symbol of trust in the blockchain world. I've been scammed by mt.gox, so I know how it feels and I won't do that to other people.

There is no guarantee for new investors that how they would get return money, but when someone going to bid means he is going to pay previous bidder. So how a investors would sent money such as unconfirmed ponzi scheme?

It could take time to get a new bid. In the end the owner could just sell the Lambowei and reimburse the last bidder. If it gets to that I, as the owner, will do that.

I think there are some point in this project that you will be thinking if it is not legit project because on it s offer and because on how they describe about their project. But for me it bring too much fun and excitement even if this project is too close of being scam because this is the real gambling,have too much of risk.

Thanks, I'm glad you enjoy it.

[leea-1334]

Maybe one way to make this happen is to request that this system have all the participants use a registered Etherscan account linked to the address. Not that this cannot be faked,,, etherscan does not request for KYC,,, but at least it is one way to see if accounts are old and trusted and are not just the same person depositing. You cannot earn from someone else without NOT being a pyramid/ponzi.

[Lambowei]

Maybe one way to make this happen is to request that this system have all the participants use a registered Etherscan account linked to the address. Not that this cannot be faked,,, etherscan does not request for KYC,,, but at least it is one way to see if accounts are old and trusted and are not just the same person depositing.

Or you could simply let bidders announce publicly their bids in their twitter accounts. But I'd say that's their choice, if they want to remain anonymous.

You cannot earn from someone else without NOT being a pyramid/ponzi.

Are you saying art is a ponzi scheme? Because people buy pieces of art and then resell them all the time. Lambowei is a piece of art.

[Avirunes]

Good guess, but that only would mean I've outbid some lucky bidders.

Once can also say this: that you are self-bidding in order to push the bidding amount and can scam out later onwards.

I am suspicious that other depositors are also you.

That's a fair suspicion, however it's just not true.

You already self-admitted that you are self-bidding so doesn't matters even if others are real players or not. It is likely they are not since I haven't seen any incoming transfers to their addresses against some bids which means perhaps you forgot to send back it look more like legit 



You call it "Interactive art of blockchain" while in reality is not. I checked back those images and they are not unique. You are just adding any crypto-related images randomly and just putting it against the bid if one makes and nothing else. Secondly, you are self-bidding as already explained.

Third, you forgot to write-off the part "Ponzi art contest" from the code which shows the real intention why script was developed in the first place.




I've added a rating and also I will ask @jazmuzika217 to remove his post reviewing this ponzi (in their favour). Any post showing support to such ponzis are harmful for newbies and as a part of community should understand that and feel it.

[Lambowei]

You already self-admitted that you are self-bidding so doesn't matters even if others are real players or not. It is likely they are not since I haven't seen any incoming transfers to their addresses against some bids which means perhaps you forgot to send back it look more like legit 

That's nonsense, it's a contract, it sends back the eth to the previous bidder automatically. Keep reading the contract code.

You can also see it if you go to the transaction details. For example the last one:  4.755316634908772731 Ether From 0xcbca2d544643083cfcdb8885f8ddb39b6b747609 To 0x329abc86e5e9d690878d64

You can think whatever you want about it, and of course I had some inspiration in "ponzi" schemes, but it's not more ponzi than any other piece of art.

[The Cryptovator]

You can think whatever you want about it, and of course I had some inspiration in "ponzi" schemes, but it's not more ponzi than any other piece of art.

Well, it's not just a inspiration, it's another ponzi scheme. Do you think its gamble? No, I don't think it is. Because on the gamble there is both chances for loss and win. But on your scheme, I can see last bidder (if incase exist) will lost his fund its sure. Because your art even not worth 10$ (for me), but bidding higher. I can't quite your all reply but I will answer shortly.

According to you that after sale of art you will pay to last bidder. Means even you are honest then also last bidder will lost fund. Because why do you need to create this scheme if you can sell your art to museum with good prices? It was really necessary? Just sell your art and earn money, no need to create too much drama here about it if you think you are legit way.

[Lambowei]

According to you that after sale of art you will pay to last bidder. Means even you are honest then also last bidder will lost fund. Because why do you need to create this scheme if you can sell your art to museum with good prices? It was really necessary? Just sell your art and earn money, no need to create too much drama here about it if you think you are legit way.

Because it's not interactive, it doesn't represent risk/reward in a direct way.

[liputin]

If they haven't done it yet, then there were reasons for it, isn't there?

[Ucy]

Interesting.
Is this over already?
I guess participants will need to be good artists to participate... or is anyone qualified to join to work on available projects? And what happens if someone pays and paint where shouldn't be painted on? Do you have standard or rules everyone will need to follow.
I guess you will need permission from the owners of the images before selling.

[Lambowei]

Interesting.
Is this over already?
I guess participants will need to be good artists to participate... or is anyone qualified to join to work on available projects? And what happens if someone pays and paint where shouldn't be painted on? Do you have standard or rules everyone will need to follow.
I guess you will need permission from the owners of the images before selling.

Hi Ucy, this is not over. There's also no standard or rules, the rule of law is the contract. You don't need permission from the owners, it's easier than that: next bidder will have to send 24 Eth so I'm guessing that the bidder will think carefully about what image to send.