Just FYI I am doing some research on ethereum ponzis and pyramids, and I calculated the expected payoff for this contract, as a function of what position you were in the deposit line, and what the maximum position was. As Basically, the conclusion is that you will only make money if you are within the first half (or maybe closer to 40%) of deposits.
Topic: [ETH] LuckyDoubler - Ponzi meets Gambling (Read 450 times)
Multiplier ethereum 2x Payouts http://x2-ethe.rhcloud.com
CONTRACT: 0xF767fCA8e65d03fE16D4e38810f5E5376c3372A8
DEPOSIT: 1 ETHER MULTIPLIER: X1.25
DEPOSIT: 1 ETHER MULTIPLIER: X1.25
LuckyDoubler is a hybrid between a ponzi game and a gambling app. With every new deposit, the payout goes to a random person in the pending entries list (deposit entry included). Thanks to this, you no longer have to wait for your turn in the queue, as there is none. If you're lucky, you may get your payout as soon as you deposit. If you don't, you just have to wait for more deposits like with traditional ponzi games.
The app's design makes it so that new users don't lose motivation to participate when there are a lot of unpaid entries, and it adds an exciting random element for those who like to take chances. If you join while there are few entries, your chances to get a fast or instant payout are exponentially higher. The system also works in your favour if you join late, as you don't have to wait for a set number of deposits to get your payout.
The more deposits you make, the bigger the odds that one of your payouts will be next, as every time someone makes a deposit, the winner is picked at random (think of it as buying multiple raffle tickets). Other than the random element, it works like other pyramid contracts: no actual value is generated; the payouts come from user's deposits.
To participate, send 1ETH to the contract. You can use the JSON interface below to keep track of the payments. Good luck!
I'll make a website if people show interest
Verified source code: https://etherscan.io/address/0xF767fCA8e65d03fE16D4e38810f5E5376c3372A8#code
JSON Interface:
Quote
[{"constant":true,"inputs":[],"name":"multiplierFactor","outputs":[{"name":"factor","type":"uint256"},{"name":"info","type":"string"}],"type":"function"},{"constant":true,"inputs":[],"name":"totalEntries","outputs":[{"name":"count","type":"uint256"},{"name":"info","type":"string"}],"type":"function"},{"constant":true,"inputs":[{"name":"user","type":"address"}],"name":"userStats","outputs":[{"name":"deposits","type":"uint256"},{"name":"payouts","type":"uint256"},{"name":"info","type":"string"}],"type":"function"},{"constant":true,"inputs":[],"name":"currentFee","outputs":[{"name":"feePercentage","type":"uint256"},{"name":"info","type":"string"}],"type":"function"},{"constant":true,"inputs":[{"name":"index","type":"uint256"}],"name":"entryDetails","outputs":[{"name":"user","type":"address"},{"name":"payout","type":"uint256"},{"name":"paid","type":"bool"},{"name":"info","type":"string"}],"type":"function"},{"inputs":[],"type":"constructor"}]
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