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Author Topic: Review for a different kind of ponzi scheme where the runner doesn't get rich  (Read 306 times)
fenghush
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January 12, 2015, 07:05:02 PM
Last edit: January 12, 2015, 07:17:02 PM by fenghush
 #1

I noticed a tread of ponzi schemes on the forums and I was amazed how many people are willing to take a huge risk and send their coins without much thought.

The risks are obvious yet people still choose to make the ponzi runner rich. This is why I want your input for a new kind of ponzi game where people don't send their coins to just one address held by the ponzi scheme runner, but the next person who needs to get paid.
I admit I haven't thought this through a lot (idea came while I was having a shower), but in a general sense this is what I have in mind;

Initially an address is posted on a website (or may as well be a bitcoin client with an alternative blockchain) that has no coins and any coins sent there will remain for the ponzi game runner but after that it's a hot potato game, unless someone has a better idea how to get the ball rolling.

Lets say someone sends 1BTC to that address, then instead of the ponzi's runner address, the first investor's address is displayed on the website along with the threshold of coins that needs to be sent to that address in order for the next investor's address to be displayed in a FIFO (first in first out) manner along with the promised provision lets say 10% so we have the address of the first investor along with the sum of 1.1BTC.

Then multiple people can send coins to the first investor's address along with a warning not to send more than the threshold. For example the next person sends 0.1BTC to the first investor's address and once another 1BTC from multiple or possibly one person is sent to the first investor's address his address is removed and the person who first sent 0.1BTC address is displayed and so the game goes. IMHO this way at least the ponzi running can't just run away with the funds as he doesn't control all the deposits although nothing stops people from editing the source to run a rouge game.
What do you guys think?

EDIT: And it took me a few minutes to realize this;



But it can be possible to make it work, it's just not trivial.

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