Topic: Bitcoin Pyramid [Beta] - the oldest working pyramid? [OLD THREAD] - page 4. (Read 62416 times)

I think in Keeping it fair
Randomly Select USD vs BTC value calculation for who gets a random pay out
and Separately Randomly Select USD vs BTC value Calculation for what a maximum payout is.

not sure if usd vs btc value randomness should be 50/50 need to think about it, see what others have to say.

Philogus, I like the idea of adding some value to the Pyramid (increasing advertising revenue, motivating some other kinds of members' participation, e. g. content creation... we could brainstorm the ideas..).


But those who don't pay and don't bring in (directly or indirectly) paying referrals don't get money from Bitcoin Pyramid. Let me remind you of these rules:



So if they attract paying members, then they can get no more than  0.01 btc at a time. Let's say you are a free member and you attract a referral that pays 1 btc. You could receive 0.5 btc from it, but you receive only 0.01 btc because you didn't deposit anything. All the remaining funds (0.49 unreceived by you + 0.5 btc) btc will be distributed among random members with respect to their deposits. E. g. if the selected random member deposited only 0.1 btc then s/he receives only 0.11 btc from 0.99 btc. The remaining 0.88 btc goes to other random member, etc. Thus you got free BTC and kind of happy, but you brought much higher profits for paying members.

At the early stage a lot of free members were reinvesting 0.01 btc amounts they earned from their referrals in order to earn more in future. I still think it is a good mechanism. It doesn't work well probably because 0.01 btc is a lot now.  It should be changed to 0.0001 btc probably, or perhaps it should be always equal to ~0.1$.

Wow, one of our major members is here. Thanks for joining the conversation, your opinion is very important!


Yes, those who spent their bitcoins in late 2011 (when it was worth $5) missed an opportunity to spend them now for $1000. However if those who deposited 10 btc in late 2011 get at least 0.05 btc today then they break even (i. e. get back about the same amount of purchasing power as they contributed). Let's be realistic: it is quite unlikely to get $10 000 worth of bitcoin from the pyramid at its current state anyway. Nobody would deposit to the pyramid if even major members don't profit from it. However in terms of USD major members could profit!


Yes, that's the goal. It could be much easier to achieve in terms of inflating currency (rather than exponentially deflating). That's why I am still thinking about converting everything to USD. What do you think about it?

Also maybe we could somehow discriminate the winners as Adriano suggested. Though not sure about it. Ideally winning members should be interested to deposit their profits back into Pyramid in order to increase their long term profits.

Hi Philogus,

I agree the main point is to turn most of the users into paying ones. They can "pay" either with coins or bringing paying members as referrals.

I will try to get the data and do some analysis on it to see if I come with a better suggestion. Hopefully there aren't many cases like yours and we can start with the moving average only for the users that have already profit from the random payments. This will increase the chance for the ones that haven't yet (as well as the new members that arrive).

I have a couple other ideas but they are very crude yet and I need to sleep on them in order to see if it make sense.

Adriano

Wow, I like this idea!

How about a moving average of each user's payments? Lets say 365 days. This would generate an incentive to users (even current ones) to make additional deposits without many changes. And I think this wouldn't be unfair with existing users if we use a relative long period in which users could profit from random payments' earnings.

Also, I don't think you should abandon the use of bitcoin as a unit of account yet... maybe it would require some adjustment in the deposit values once in a while when bitcoin moves in favor/against the dollar: 0.01 BTC is now worth ~ $10, what would be a good amount? $5 (0.005) $1 (0.001)

Anyway it is just an ideia. I think these two could help to avoid the problem without giving up the entire idea.


Regards,


Adriano

Dear pyramid members.

Bitcoin Pyramid has been working since 2011 and I have been doing my best to protect the members' interests since that time. But Bitcoin price raised a lot and it repels new users from joining the pyramid.

According to Pyramid Rules, "Rules are a subject to change.".

So do you think it is acceptable or desirable to change the rules so that all the moneys are accounted in USD (not in BTC) and all past deposits/withdrawals/balances should be recalculated accordingly?

It would debase deposited funds but it would probably allow much more new users to join. And there are plenty of potential new users due to the recent rapid growth of Bitcoin community.

Moreover it increases our chances to find some person or group who would take over the pyramid and develop it.

Please let me know what you think.

http://bitcoinpyramid.com/r/10795

You know you want to!

Wow.... something odd is happening....before we played the pyramid for huge amounts.... like 2 BTC and such... that was like 10 dollars.... NOW a payout of 0.017 is actually BIGGER than 2 BTC was in the beginning.... talk about coming around full circle.....

I suspect we may see some play in the pyramid yet....

Hello.

I just joined and I sent 0.0046 btc to my deposit address: 1YZVN6uRZodPuZNiaKy9m73CFYfxZGkCd
The transaction has now 14 confirmations but is not showed in my Bitcoin Pyramid balance.  How long takes it to update the balance?

Thanks

http://bitcoinpyramid.com/r/10624

[EDITED]

Balance is OK now, thanks

Bitcoin Pyramid is very nice,
check also new Ponzi game in my signature. For referral you can get 10 percent from his earned money and there is also bitcoin faucet.

oops, sorry, you are right, fixed it. about a dozen of delayed transactions have been processed. thanks for reporting!

arsenische, can you check the bitcoind on the pyramid again? Been nearly 8 days no activity...

The pyramid worked way better when BTC was cheap...  but it still limping along....  it really is all about getting PAYING referrals. And luck...   the random payments are luck... Just keep posting your referral address and let it be....

http://bitcoinpyramid.com/r/10164

mate I sent 0,01 BTC and I got a coiuple guys I reffered but I havent got any money yet
what do I need to do now
I post my affiliate link everywhere

Heya fdeabreu2u...   This pyramid works but it is all about being patient....  good luck!

Yes, it requires 6 confirmations and may work with some lag. I can see that your first deposit got accepted, whereas the second one has only 5 confirmations yet.

Registered yesterday and made some deposits! but still not in my account balance! is there a time gap between deposit and acceptance?
ref link http://bitcoinpyramid.com/r/10115.

Back to normal, sorry for downtime.