Topic: [ETH] ethpyramid.tk Dynamic Pyramid *Highest Volume* 0% Fee for 50+ Ether - page 8. (Read 8008 times)

If you're having syncing problems, download the newest homestead ethereum wallet, and sync with that wallet first. And then after your sync'd, open up your mist browser. The new wallet has much faster syncing. https://github.com/ethereum/mist/releases/tag/0.5.1

Also, within a few days I will be lowering the payout, so get in while the 2x payout is still available.

Thanks for the information. That is good to know since the pyramid will keep running as long as it gets "fueled" by ETH. Being a smart contract, makes it better than those so called Bitcoin Doublers in which the owner has the ability to take the funds with him. With smart contracts, that is not the case. 

I am still waiting for wallet sync to complete. Can't wait to get started.

Exactly, when you deposit, you're basically paying someone else out, and when the person after you deposits, they are paying you out. That's how a pyramid system works. Normally, the failure of a pyramid system is it gets too large, as I mentioned before, and the higher the payout, the more people are needed to start procuring payouts, but the biggest failures of pyramids have been owners running away with pyramid funds. Since this is a smart contract, this is not possible, as the contract has no functions that stop its operations, or withdraw the balance.

2x payout rate seems fine to me but if it were to make payouts faster then 1.2 would be okay. About the payouts, I would like some clarification about it. Does it mean that once I deposit 1 ETH, I would get paid after someone else deposits ETH too, am I correct? 

Payout rate is 2x at the moment.

I'm inquiring right now, what people want the next payout rate to be. Just post here Abiky, which one you'd prefer, and then if a few other people post the same wishes, I'll change rate anywhere from 1.2x to 2x, until people feel they want a different rate.

A total of 14 deposits have been done by people. 7 of those people have been paid out for a total of 21 ether at this point .

That sounds great! How do I choose the payout rate on the dapp? Anyways, I will use your pyramid app once Mist wallet finishes with the syncing process (since it is taking too long) I will gladly leave feedback here once I receive my payout. 

Thanks on the compliments, I was working to get it looking just right and give it a "Ethereumy" look, if that makes any sense :p.

Anyways, yes, we may run 3x payout again, depending if people want it. I'm actually posting here to ask what people would be interested in again. I won't run the 3x payout again, until we pass a certain milestone, like 100 participants. I'll likely add it back in for ~100 - 110.

What I actually wanted to inquire is what payout people want now. You can choose from 1.2x to 2.0x (Note, with 1.2x your payouts will be much faster) Again, remember, this doesn't affect those that already sent their ether, you will get whatever the payout was when you originally deposited.

Another note, I will lower the fee, depending on the payout you want. For 1.8x, I will lower it to 8%. for 1.6x to 6%, 1.4x to 4%, and 1.2x to 2%.

Please leave your feedback, I want this pyramid to succeed, and gather enough data so in the future, I can make a fully autonomous pyramid.

This is absolutely fantastic. The site looks really great. I am going to try it out. Say, will the 3x payout be available like before of has it already ended? Nevertheless, this looks like a great way to double your ETH. 

Site is up and running at http://ethpyramid.meteor.com/

Open with mist browser or a local geth node running to get full contract details.

EDIT: Deposits seem to be coming in quite quickly now with the site and payouts too, seems there were about 2 new payouts of 3 ether each since I posted this.

Thanks for the reminder. I hope to send ETH on time to be in this payout spot. I have been a little busy, but I will see if I can find some time to send some ETH today. 

How quickly you get your payout, depends on how often people are putting ether into the contract. So far 3 payouts have been completed, and everyone who put ether in has received their payouts within 24 hours. I will try to keep it as speedy as possible, if contract slows down, I'll lower payout multiplier further, to ensure speedier payouts. Since the pyramid is still small, payouts are very fast atm.

Also note, there is only ONE 3x payout spot left.

Sweet. That is definitely a good thing to keep using the contract for long term. I will give it a try later and see how it works. How long would it take to receive payout, if may I ask? 

This contract cannot be stopped or deleted. It will go on for as long as the Ethereum blockchain and network exists, another huge pro. Some other contracts I have seen, allow the owner to close the contract, and deposit any leftover funds to themselves. Not this one, this one has NO kill function.

Site is currently in development, and just applying some finishing touches on it, which should encourage more participation in this contract. Once we pass 10 participants, fee will be lowered.

The first payout has been completed, 3 ether trasnferred for 1 ether: EtherscanLink - Check Contract Invoked Transactions

Some people are looking at the fees negatively, however, I will be reinvesting much of it back into the contract, which in turn will help you towards getting your payouts.

This ETH doubler looks even more interesting than the others. I can see that the concept is pretty unique with dynamic payout rates and fees. I will give it a try during the weekend if the contract is still working. Great job! 

The advantage this pyramid has over the others is that it has a dynamic/variable/adaptable payout and fee. In that they can be changed, to ensure regular payouts.

With the traditional pyramids, as the pyramid grows, it tends to end up at a standstill of sorts. Ethereumpyramid for example, I made an excel sheet which can perfectly show this, it has a 3x payout, 10% fee. If you're the 100th guy into the pyramid, you won't get paid until the pyramid grows to ~331 people. The 200th guy won't get paid until 661. As you see, the pyramid has to grow exponentially, to keep payouts rolling. I won't even comment about the etherdoubler.com contract, I already said all that needs to be about it.

My contract, on the other hand, will change the payout, they are changeable from 3x - 1.2x, so for example, let's assume on my contract, you're the 100th person, and payout was 1.2x and 10% fee, you would get paid out after the 133th entrant rather than having to wait for 331, and 200 would get paid at 265, rather than 661. As you can see, my dynamic pyramid doesn't require unsustainable growth, as the other ones. And, if the payouts are coming out fast, and money coming in fast, we can increase payouts to people to maximize their returns.

This is why this contract is much more superior, and I can only agree with your point, that people are weary because there is no site, which I will contemplate making, however, the whole reason that attracted me to Ethereum was PURE decentralization, so I kept even the interface side, purely on the blockchain. All info on the contract is AVAILABLE through the Ethereum blockchain, by using the JSON interface.

Disclaimer: I actually have put in Ether into both of those contracts, just so there's no misunderstandings, however, after looking through the code of etherdoubler and seeing how badly it was coded and that I would likely never get anything back at this size of the pyramid, I decided to make my own pyramid, a much more improved version. And as stated in my original thread, currently I have control over the variables such as payout/fee, but what I HOPE to do is learn from this contract if people get active into it, and created a fully AUTONOMOUS version of it, where the owner doesn't decide payouts or fees, but the contract itself, depending on how much ether is coming and other variables i'll learn during the course of this. My goal with this contract is to have this become the most successful pyramid in terms of size and payouts.

To answer your question on the ether forum:
Yes, i think it is because you have no website.

Better say: Why use some script from a forum if you can invest in the 'original' doubler @ ethereumpyramid.com
Which has already a increasing userbase and funds in the wallet.

Or has your contract some advantages?

Don't get me wrong, i like the idea and the fact that it's 'trustless'.
But without a real 'killer-feature' that seperate you from the other projects i don't see a future for it.

Maybe when the Bitcoin-Ether Bridge Technologie (like rootstock.io) is ready and it's possible to combine Smart Contracts and Bitcoin.

So are people interested in any specific payout before I change the payout in ~15 minutes? It can be anywhere from 1.2x to 3x.

The 3x payout promo will be ending February 25, 2016 7pm UTC. So 24 hours from this post. Thereafter, the payout for 1-10 lowered to 2x if they're not filled up.

PROMO 0% Fee promo for 50+ Ether, 1% fee for less than 50 Ether.

NEW SITE http://ethpyramid.tk

NOTICE ABOUT/TO COPYCATS This is the only pyramid contract I am running. The other ones like Diana/Rubixi are copycats. They are free to use the code just as much as anyone else, I just want to make it clear I have zero association with any of them, as some have used my name.

Now, to the copycats, DO NOT POST HERE, advertising or otherwise attacking me with any conspiracy theories. I am not filing copyright infringements against you, and do not plan to, and definitely don't have the time to. Keep your conspiracy theories to yourselves. If you do have a false copyright claim issue, you may PM me, and I can help you out and get it lifted, because I will tell the source it is not an infringement.

WARNING: Do not send directly from Exchanges or Wallet Contracts. Send to the contract using only personal addresses.

UPDATE: Our site is now live at http://ethpyramid.meteor.com/

I've been around the bitcoin scene for a while, and I've been a pretty ardent bitcoin supporter and have done some previous development around bitcoin, catered around trading applications as bitcoin's main purpose was that of a currency.

Ethereum is actually the first Crypto that has peaked my interest once more, bitcoin was supposed to be all about decentralization, yet one thing I always hated was that most transactions were done with or through a centralized party. That is why I'm thankful for smart contracts . Why a pyramid you ask? Even with bitcoins, I've found it was one of the best way to distribute coins, in its early days, the greatest downfall of them were scamming owners. With smart contracts, we can avoid that, and limit/nullify the power of owners.

My goal with this pyramid is to keep it running for much longer than other pyramids, as other pyramids usually have too many people, waiting for payout, and then it dies, this pyramid's payout can be lowered all the way to 1.2x if needed, to ensure payouts happen. I hope to gain enough data from this, to set up a fully automated and decentralized version, which will change the payout multiplier and other variables as needed to ensure payouts are happening as regularly as possible.

**NOTE: DO NOT SEND FROM EXCHANGES, YOU MUST SEND FROM A PERSONAL ADDRESS (NOT A CONTRACT), AS THAT IS WHERE THE ETHER WILL BE RETURNED TO**

The contract address is: 0xa9e4e3b1da2462752aea980698c335e70e9ab26c

To send using geth or eth:
eth.sendTransaction({from: eth.coinbase, value: web3.toWei(1, 'ether'), to: '0xa9e4e3b1da2462752aea980698c335e70e9ab26c', gas: 500000})

or replace eth.coinbase with primary or your actual account string such as '0x0c5437b0b6906321cca17af681d59baf60afe7d6'

Easiest way is with Mist or Ethereum wallet, and adding the address under watch contract. If anyone needs a tutorial on that, let me know and I'll post a video.

Basic info:

• Minimum of 1 Ether is required to be entered into the pyramid
• The first 10 to enter the pyramid will have a promotional 3x payout applied to their payouts
• 11-25 will get 2x payout, and after that the pyramid will switch to 1.5x payout so the pyramid doesn't get too large and people keep getting payouts
• The fee is 10%, however, it is not applied to your payout, it is applied to your initial transaction e.g. you send 10 ether, 9 goes into the pyramid's payout balance, and 1 goes to fees, however, you will still get a payout of 15 ether down the line, if the payout multiplier was 1.5x when you sent the transaction
  The payout multiplier can be changed, from 1.2x to 3x. It will be changed depending on speed of payouts. The multiplier that applies to you is the one at the time of your transaction, changing the multiplier thereafter has no effect on your expected payout.
• The fee can be changed
• Sending 50 ether or more gives you a 50% fee rebate e.g. if fee is 10%, and you send 100 Ether, only 5% fee will be applied, rather than the regular 10%.

The contract itself holds most of the relevant info you need, such as the balance of the pyramid, when next payout will be, and the list of who is in the pyramid, and their expected payout. You may use this JSON interface code to "Watch the contract" in Mist or Ethereum Wallet: http://pastebin.com/AcV8FbDK
Screenshot of Contract info on Mist using JSON interface



The contract is fully verified by both Etherchain and Ether.Camp at the following links:
https://etherchain.org/account/0xa9e4e3b1da2462752aea980698c335e70e9ab26c#code
https://live.ether.camp/account/a9e4e3b1da2462752aea980698c335e70e9ab26c/contract


If you have any questions, please ask away and I will answer them or join the discussion at https://forum.ethereum.org/discussion/4632/introducing-dynamic-pyramid-3x-1-2x-payouts-verified-contract