Topic: [ETH] Wealth Redistribution Contract Experiment - 0% FEES - - page 2. (Read 1961 times)

Part of the problem is that it's all the same people participating in these games.

One thing that can help bring more new people in is to have whatever changes are necessary to make myetherwallet.com work for sending to contracts.

Once this is easier to do it will be possible for the masses to come and play these games.

The only people that can play right now are those willing to figure out how to setup geth and download the full blockchain. need to lower the barrier of entry.

Shapeshift being back online will help too.

When are we going to reach 30 participants?  

No, we are just talking about the reddit submission.
But Reddit isn't a good place to advertise anyway.

Already failing?

It seems that it has been removed there 

give it an upvote if you can.
https://www.reddit.com/r/ethtrader/comments/4dfppm/eth_wealth_distribution_experiment_0_fee_supports/

It's already at 20 deposits.
Maybe now is a nice time to start marketing this one more publicly, other than solely this Bitcointalk topic.

Certainly given the fact we now have a GUI which makes that much easier

Alternative suggestion: If you required each payout to be the same, so each deposit is the payout multiplied by the number of existing users, each player would get their initial deposit back once the total number of players had doubled.

We need to create the same, but with any amounts.

Indeed this is interesting - lets see how it will work with diversified deposits

Indeed the GUI is simple and clear, nice !! 

Wow this is cool,
nice to see you made a GUI for this pyramid

At a time, all outgoing transactions will fail.

what happens from this point?

I like the novelty and experimental nature of this one.  The risk is low and the behavior is different from standard ponzi contracts.  I'm curious to see what kind of response this gets.  I think it'll be entertaining to watch it generating increasingly fractional payments with every new entry.

Here is a webpage that shows you all of the stats for this contract:
http://contractsjust4fun.github.io/WealthRedistributionExperiment/

It shows each address participating in the experiment, how much they've earned so far, and what their next payout will be.

re: 200 ETH limit, is that really true?
even if the gas costs more than 1 ETH, it will just take you longer to profit, but the contract will still split the 1 ETH across all addresses evenly. The webpage should help you better visualize the potential of this contract.

Well, that's the definition of a pyramid, isn't it 

Yeah i understood my error. You are right



However, let's make some forecasting :

We assume there is 20 people already in at the time i post this.

If you invest now 1 ETH,

it will take 30 more participations to reach the 1 ETH you invested (1/20+1/21+...+1/52)

To reach 2 Eth: 120 more participations from now !
To reach 3 Eth: 370 more participations from now !
To reach 4 Eth: 1000 more participations from now !

Going over 6/7 Eth is not very likely as it would need more than 50000 participations...



And we didn't talk about transaction fees:


Let's find the moment where all the transactions costs surpass 1 Eth ( approximative )
n*0.005>1 ETH=> n>200

The contract will fail and keep failing after the moment we reach 200 Eth invested.

This contract, if it never ends, will give you in the average 2.5 ETH if you invested 1 ETH, not a lot more.
Only the 4th first participants will go over 4 ETH.




Everything said here is approximative, especially for the transactions costs.



PS : there is something interesting in the code, translated to be clearer as :

for k=0 to n do :
   transactionAmount=1/n
   pay  participant[k] with 1/n ether
  

As the first participants are paid first, the transactions that will fail first will belong to users that came in late. Just a detail.

No. I think you are misinterpreting the rules somewhere.
Remember: Everyone who has deposited will receive a small part of every new deposit.

So you are totally wrong on that 0.3 ETH, I don't know where you're taking that from.

I just did the calculations
and if you invest now,
it will only take 6 entries after you ( = 70 dollars in deposits from other people) to reach that 0.3 ETH that you are talking about.
That's hardly the upper limit or the end, to say the least.
And it'll take a total of 230 dollars in deposits to break-even.
Everything that comes after that, is pure profits....

To put this in perspective:
The previous ETH pyramid I've participated in here on Bitcointalk has 76 000 dollars in deposits after 7 weeks (and is still ongoing...).
And with this pyramid here (online since yesterday), the person who's going to send an entry right now, right after me writing this post,
will only have to wait for 230 dollars to be deposited after him, before he breaks-even.

Everything that comes after that, is pure extra profits for this guy.

So if another 75 000 dollars would happen to come in like with the other pyramids, this person who deposits now
will be getting a nice part of that 75,000 USD, for a mere 1 ETH (= 11.5 USD)  investment.

This pyramid right here has just launched this weekend (only 1 day online) and has received about 187 USD in deposits so far,
with a potential of reaching 76,000 like that other pyramid.
If this pyramid only reaches 1 % of the success of the other biggest one here on this forum-section on Bitcointalk,
this already gives a great profit for those depositing right now.

So you are making a big mistake / miscalculation somewhere...

I mean,

if you invest 1 ETH now, you will never have more than 0.3 ETH  at the end ! Maths.

Every participant will asymptotically have a certain amount a Eth, no?

euh, that isn't true?

You keep accumulating forever. Its not capped at 2 ETH or 1 ETH or 0.66 ETH

And having multiple times a 1 ETH investment just increases your overall return