HungerCoins: sustainable or not? | Bitcointalksearch.org

gmaxwell

staff

Activity: 4284

Merit: 8808

Quote from: iamtheone on September 03, 2012, 02:57:22 AM

I believe I can prove that HungerCoins Invest and HungerCoins Lottery is a sustainable business model

If you'd like to get in the business of proving things, you could start by demonstrating your honesty. You claim to be representing a large corporation but you will not disclose which, or any other information which could be used to seek remedy if your operation ultimately rips people off. I've previously stated that your activity is harming myself and other bitcoin users, and requested you have your supervisor contact me.

As far as I can tell you're just another scammy ponzi operator, but one that catches my particular attention because the pointeless high transaction loads you generate makes bitcoin slower for all its users. But feel free to prove my position as paranoid…

thezerg

legendary

Activity: 1246

Merit: 1010

Whether it is sustainable is irrelevant, HungerCoins can get a lot more a lot quicker by stopping payback. If they were honest they would have posted their identities.

Fellow Bitcoiners: the negative exposure from scams are harming bitcoin! Would you hand cash to a complete stranger? Don't hand it to these guys until they tell us who they are.

mobodick

hero member

Activity: 840

Merit: 1000

Quote from: iamtheone on September 03, 2012, 02:57:22 AM

Now I even start to doubt the future of bitcoin if the mentality and logic of supposedly smart bitcoin developers is to kill budding businesses trying to support the very project they claim to be the future of currency.

Aah, so all you're saying is that the future of bitcoin business is getting payed by lotteries!
I get it!

dooglus

legendary

Activity: 2940

Merit: 1333

Quote from: iamtheone on September 03, 2012, 03:39:01 AM

HC Lottery has positive expected value. HC Invest has a negative expected value.

You know what would be even more profitable and sustainable than running HC Lottery and HC Invest?

Just running HC Lottery.

Why run a -EV game at all?

Bitcoin Oz

hero member

Activity: 686

Merit: 500

Wat

Quote from: Phinnaeus Gage on September 03, 2012, 04:35:19 AM

Quote from: Bitcoin Oz on September 03, 2012, 04:24:52 AM

Quote from: iamtheone on September 03, 2012, 04:19:19 AM

Quote from: FreeMoney on September 03, 2012, 04:15:05 AM

You have the 500 or not?

Nope. LOL. Tongue

This is a scam if you dont have the coins.

I'm in!

lol

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: Bitcoin Oz on September 03, 2012, 04:24:52 AM

Quote from: iamtheone on September 03, 2012, 04:19:19 AM

Quote from: FreeMoney on September 03, 2012, 04:15:05 AM

You have the 500 or not?

Nope. LOL. Tongue

This is a scam if you dont have the coins.

I'm in!

Bitcoin Oz

hero member

Activity: 686

Merit: 500

Wat

Quote from: iamtheone on September 03, 2012, 04:19:19 AM

Quote from: FreeMoney on September 03, 2012, 04:15:05 AM

You have the 500 or not?

Nope. LOL. Tongue

This is a scam if you dont have the coins.

iamtheone

newbie

Activity: 28

Merit: 0

Quote from: FreeMoney on September 03, 2012, 04:15:05 AM

You have the 500 or not?

Nope. LOL. Tongue

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

You have the 500 or not?

iamtheone

newbie

Activity: 28

Merit: 0

Quote from: bencoder on September 03, 2012, 03:43:38 AM

Yes I didn't fully investigate the differences between the two schemes. I understand the model, so I deleted the post.

Still though, what happens if you don't get enough plays on HC Lotto to cover the investments on HC Invest?

A starting capital will pay for the interest on HC Invest. It is not much. And if HC Invest will take so much money, we will either control it either by increasing confirmation times to slow it down and in effect pay lower interest which in effect reduce the buffer levels, or we can also add new investments opportunities like lending to other people for higher interest and we can also increase the jackpot of HC Lottery since we will have enough buffers to smoothen out the variance in small bet/big payout gaming systems.

bencoder

member

Activity: 90

Merit: 10

Yes I didn't fully investigate the differences between the two schemes. I understand the model, so I deleted the post.

Still though, what happens if you don't get enough plays on HC Lotto to cover the investments on HC Invest?

iamtheone

newbie

Activity: 28

Merit: 0

Quote from: ?? on ??

I don't understand what you don't understand about the response.

What happens if(when) people stop playing?

How will you return the bitcoins to people that you have already paid out in winnings/interest? If you are not able to answer the above, then your system is a ponzi, and deserves the scorn it has been given.

HC Lottery has positive expected value. HC Invest has a negative expected value. The confirmation time of HC Invest will be adjusted to maintain the balance so that the net expected value will always be positive. The interest rate that we pay for HC Invest will initially come from the starting capital and from HC Lottery.

If you compute it, HC Lottery a receives a lot more interest than HC Invest pays. And since the confirmation times will have an effect for the effective interest and also the buffer levels, it will be continuously adjusted to maintain the balance of being attractive enough and being affordable enough.

iamtheone

newbie

Activity: 28

Merit: 0

I believe I can prove that HungerCoins Invest and HungerCoins Lottery is a sustainable business model just even both of them and I can even attempt to increase the jackpot payout for HungerCoins Lottery to 50,000 BTC for just a 0.01 BTC ticket. Just by continuously varying the confirmation times of HungerCoins Invest, I can continuously sustain both operations indefinitely. It is unfortunate that simple concepts of economics and statistics would draw the ire of no less than supposedly smart bitcoin developers. I would like to challenge anyone to a friendly debate if anybody can disprove my claim.

I think HungerCoins Invest and HungerCoins Lottery is a brilliant idea. I expect others will even attempt the same. But too early into my life in this forum, I never thought people could be so hostile for things they don't understand or won't even attempt to understand.

Now I even start to doubt the future of bitcoin if the mentality and logic of supposedly smart bitcoin developers is to kill budding businesses trying to support the very project they claim to be the future of currency.

Topic: HungerCoins: sustainable or not? (Read 2421 times)