na ethereum's doing a fine job killing itself
To be honest, I see this kind of sentiment (Bitcoin zealotry) a lot on these forums. I hope Ethereum does well, I really do. In fairness to them, they have rolled out an excellent smart contract platform. They're leading the way in that space.
But when the devs go to all this work and a pyramid scheme is the result, it's sad.
Crypto pyramid schemes like this should be banned. We ban child porn from the internet. I don't see why we can't ban so-called trustless pyramid schemes.
Pyramid schemes do not advertise themselves as such. These scripts are harmless fun and don't hurt anyone apart from the idiots who join them.
I think the guy that wrote the script is perfectly honest about the fact that it's a "trustless" pyramid scheme (as opposed to a conventional pyramid scheme involving sleazy salesmen, cheap hotel function rooms, dodgy cheques and cash).
By all accounts, the script is working and is paying "investors". There is no possiblity of running off with the cheque book or absconding to another country on a smart contract platform. If just 4 more participants join the current level, there will be another payout.
