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Warning: You are in the Gambling section. You are likely to eventually lose any money that you gamble/"invest". Additionally, moderators do not remove likely scams. You must use your own brain: caveat emptor. Do not gamble more than you can afford to lose.

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Author Topic: ChainProfit.com - 27+ BTC Paid | 140% Return | Running over four months now  (Read 28098 times)
cloudbets
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January 19, 2015, 08:28:21 AM
 #101

NO, it is not gamble or investment, you can't create. Ponzi's are not provably fair.

I think it already exist a kind of ponzi turned into a fair gambling, it is called www.bitnety.com

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Kprawn
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January 19, 2015, 08:29:49 AM
 #102

Why would you want to create a game, based on Ponzi schemes? Most people "hate" ponzi schemes and you would be better off, creating something with a better reputation.

You will in affect, decrease your chances to get NEW signups, just by mentioning that it's linked to Ponzi's.  Sad

dyask
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January 19, 2015, 08:31:50 AM
 #103

NO, it is not gamble or investment, you can't create. Ponzi's are not provably fair.

I think it already exist a kind of ponzi turned into a fair gambling, it is called www.bitnety.com

That seems to be a pyramid scheme.  Shares common attributes with a Ponzi.   They always collapse at some point.   In a way this is worse because you don't know when it will collapse and that gives a false sense of security.    If you are against Ponzi schemes you should be equally against pyramid schemes.    
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January 19, 2015, 02:24:41 PM
 #104

I think it already exist a kind of ponzi turned into a fair gambling, it is called [link removed]

Stop it, cloudbets.

An economy based on endless growth is unsustainable.
adaseb
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January 19, 2015, 03:01:11 PM
 #105

Well you can start by not scamming the user. But Ponzi aren't like dice sites.

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CrazyJoker
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January 19, 2015, 09:28:45 PM
 #106

Well you can start by not scamming the user. But Ponzi aren't like dice sites.

I am still developing the site and it will take a few more days. In the mean time I have taken a note of what people are suggesting to make it run as transaparently as possible. Of course, I dont have a way to negate the risk of running away with the fund and that trust can only be built over time. I am planning to launch the site first without accepting any deposit and run it with demo bitcoins for some day. That way people will get more opportunity to point out to the probable flaws I may have. After that, I'll start accepting deposits...

► Wondering if I am trusted ? Read: https://bitcointalk.org/index.php?topic=1060467.0
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January 20, 2015, 05:25:15 AM
 #107

Here is a sordid tale.   https://bitcointalk.org/index.php?topic=930008.0

It is the people that are a problem.   I don't think the game has anything to do with the problem, it is the people.
PerfectCoin
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January 20, 2015, 05:27:45 AM
 #108

Ponzi = Scam
its impossible to create a fair game when it comes to ponzi, it will turn scam after it become popular
RocketSingh
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January 26, 2015, 10:18:14 AM
 #109

Here is a sordid tale.   https://bitcointalk.org/index.php?topic=930008.0

It is the people that are a problem.   I don't think the game has anything to do with the problem, it is the people.

I think any of the gambling site operators may cheat like this. In fact, it happened before in case of dice.ninja.

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January 26, 2015, 11:46:20 AM
 #110

And you need a trusted escrow to hold the funds. That acts like an insurance.

sgk
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January 26, 2015, 12:14:37 PM
 #111

Here's a trusted ponzi:

- Declare your own funds and hand them over to a trusted escrow for insurance (For example 10BTC)
- When unpaid deposits reach the insurance amount (10 BTC), you freeze the current round and pay all unpaid deposits with escrowed BTC
- Start new round with fresh deposits

You only make money from fees

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January 26, 2015, 12:18:23 PM
 #112

Here's a trusted ponzi:

- Declare your own funds and hand them over to a trusted escrow for insurance (For example 10BTC)
- When unpaid deposits reach the insurance amount (10 BTC), you freeze the current round and pay all unpaid deposits with escrowed BTC
- Start new round with fresh deposits

You only make money from fees


another good variation. never thought of that.

sherbyspark
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January 26, 2015, 12:25:24 PM
 #113

Here's a trusted ponzi:

- Declare your own funds and hand them over to a trusted escrow for insurance (For example 10BTC)
- When unpaid deposits reach the insurance amount (10 BTC), you freeze the current round and pay all unpaid deposits with escrowed BTC
- Start new round with fresh deposits

You only make money from fees


This seems like a nice idea too. AS long as you don't get any big deposits in a small time frame,  the 10 BTC don't have to be refunded and can continue with further rounds, as long as 10 BTC is never in the wallet.
But, a drawback would be, that ponzis continue for over 48 hours at time. The escrow will have to monitor the address all the time, which would not be easy to manage.
 
sgk
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January 26, 2015, 12:44:50 PM
 #114

Here's a trusted ponzi:

- Declare your own funds and hand them over to a trusted escrow for insurance (For example 10BTC)
- When unpaid deposits reach the insurance amount (10 BTC), you freeze the current round and pay all unpaid deposits with escrowed BTC
- Start new round with fresh deposits

You only make money from fees


This seems like a nice idea too. AS long as you don't get any big deposits in a small time frame,  the 10 BTC don't have to be refunded and can continue with further rounds, as long as 10 BTC is never in the wallet.
But, a drawback would be, that ponzis continue for over 48 hours at time. The escrow will have to monitor the address all the time, which would not be easy to manage.
 

Or some system could be hard-coded in ponzi site that will automatically freeze the round when the insurance amount is met with unpaid deposits.

RocketSingh
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January 26, 2015, 05:41:29 PM
 #115

Here's a trusted ponzi:

- Declare your own funds and hand them over to a trusted escrow for insurance (For example 10BTC)
- When unpaid deposits reach the insurance amount (10 BTC), you freeze the current round and pay all unpaid deposits with escrowed BTC
- Start new round with fresh deposits

You only make money from fees


This seems like a nice idea too. AS long as you don't get any big deposits in a small time frame,  the 10 BTC don't have to be refunded and can continue with further rounds, as long as 10 BTC is never in the wallet.
But, a drawback would be, that ponzis continue for over 48 hours at time. The escrow will have to monitor the address all the time, which would not be easy to manage.
 

Or some system could be hard-coded in ponzi site that will automatically freeze the round when the insurance amount is met with unpaid deposits.

I doubt whether people will be interested in a Ponzi with escrowed cut-off, though I'm not sure whether any of the Ponzi games have been able to raise 10 BTC at one round.

sgk
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January 26, 2015, 06:04:04 PM
 #116

I doubt whether people will be interested in a Ponzi with escrowed cut-off.

OP wants to start a provably fair ponzi site. Anything can be hardcoded, its only a matter of willingness of the operator.


though I'm not sure whether any of the Ponzi games have been able to raise 10 BTC at one round.

https://bitcointalk.org/index.php?topic=935163.0
Raised 80+ BTC (Do not get tempted to invest though; last 20 BTC payback is pending)

SirChiko
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January 26, 2015, 06:15:59 PM
 #117

Make it 2fa and give one key to escrow  Roll Eyes

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RocketSingh
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January 26, 2015, 10:04:19 PM
 #118

Make it 2fa and give one key to escrow  Roll Eyes

Does not Ponzi games make regular payment ? If yes, then escrow might be an obstacle to that...

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February 02, 2015, 09:36:25 PM
 #119

Here's a trusted ponzi:

- Declare your own funds and hand them over to a trusted escrow for insurance (For example 10BTC)
- When unpaid deposits reach the insurance amount (10 BTC), you freeze the current round and pay all unpaid deposits with escrowed BTC
- Start new round with fresh deposits

You only make money from fees


This seems like a nice idea too. AS long as you don't get any big deposits in a small time frame,  the 10 BTC don't have to be refunded and can continue with further rounds, as long as 10 BTC is never in the wallet.
But, a drawback would be, that ponzis continue for over 48 hours at time. The escrow will have to monitor the address all the time, which would not be easy to manage.
 

Or some system could be hard-coded in ponzi site that will automatically freeze the round when the insurance amount is met with unpaid deposits.

I think using escrow is a great option to start-off. But, I am planning to pay out daily... hence escrow will be a bit of a blockage from normal functioning.

► Wondering if I am trusted ? Read: https://bitcointalk.org/index.php?topic=1060467.0
nikona
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February 03, 2015, 07:11:13 AM
 #120

Here's a trusted ponzi:

- Declare your own funds and hand them over to a trusted escrow for insurance (For example 10BTC)
- When unpaid deposits reach the insurance amount (10 BTC), you freeze the current round and pay all unpaid deposits with escrowed BTC
- Start new round with fresh deposits

You only make money from fees


This seems like a nice idea too. AS long as you don't get any big deposits in a small time frame,  the 10 BTC don't have to be refunded and can continue with further rounds, as long as 10 BTC is never in the wallet.
But, a drawback would be, that ponzis continue for over 48 hours at time. The escrow will have to monitor the address all the time, which would not be easy to manage.
 

I think escrow would be happy to work on this..he can release the payouts to the provided address..it doesnt take much time anyways.!

Or some system could be hard-coded in ponzi site that will automatically freeze the round when the insurance amount is met with unpaid deposits.

I think using escrow is a great option to start-off. But, I am planning to pay out daily... hence escrow will be a bit of a blockage from normal functioning.
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