4 ms·

Game Theory and Winning at ponziFarm

16 points by karmaniverous 4y ago

galaxyLogic 4y ago
Is this legal? I thought Ponzi-schemes are not
- karmaniverous 4y ago
  Who knows lol but it's interesting. If it's totally transparent does it still qualify as a Ponzi scheme? Seems no different from a lottery at that point.
  - galaxyLogic 4y ago
    Interesting development anyway. Who can find a bigger fool. But in a real Ponzi doesn't the one who starts it always win? How does it work in this game?
    - karmaniverous 4y ago
      "Every time a player makes a deposit, a Management Fee is subtracted from the overall game balance. This is how we finance and promote the game!" https://blog.ponzifarm.com/blog/game-rules/#management-fee https://blog.ponzifarm.com/blog/game-rules/#management-fee
- Cloudef 4y ago
  Maybe we should ban pension, cities, megacorporations, financial institutes and owning land then too
  - kortilla 4y ago
    A pension invests the money into stocks, bonds, etc. It doesn’t just pay out more than you put in using incoming cash. Owning land is not a ponzi because you actually own something. It would be ponzi if someone told you that you were invested in land but they had actually just pocketed your cash and used other investors’ buy-ins to pay you.
- sooyoo 4y ago
  The illegal part about them is usually the fraud aspect. You tell your investors one thing but then do something else. One may argue that that's part of the definition of a ponzi scheme, i.e., if you are open about it then it's not technically a ponzi scheme sincs it's lacking that particular necessary characteristic. (With that definition, ponzifarm is not a ponzi scheme.)
noeltock 4y ago
Important note: this is running on test-net, there's no real money at play here.
simple-thoughts 4y ago
The value of ponzi-like blockchain games comes from the entertainment of playing, which is what makes them positive sum. The issue with this project is (1) community too small to be engaging (2) art and site is too generic and not entertaining. There are thousands of ponzi-like blockchain games (just search BNB miners as an example). I don’t advise building these type of ponzi products as there are ways to build entertaining dapps that also are financially positive in average through careful treasury investment in stablecoin products.

16 points by karmaniverous 4y ago

galaxyLogic 4y ago

Is this legal? I thought Ponzi-schemes are not

karmaniverous 4y ago
Who knows lol but it's interesting. If it's totally transparent does it still qualify as a Ponzi scheme? Seems no different from a lottery at that point.
- galaxyLogic 4y ago
  Interesting development anyway. Who can find a bigger fool. But in a real Ponzi doesn't the one who starts it always win? How does it work in this game?
  - karmaniverous 4y ago
    "Every time a player makes a deposit, a Management Fee is subtracted from the overall game balance. This is how we finance and promote the game!" https://blog.ponzifarm.com/blog/game-rules/#management-fee https://blog.ponzifarm.com/blog/game-rules/#management-fee
Cloudef 4y ago
Maybe we should ban pension, cities, megacorporations, financial institutes and owning land then too
- kortilla 4y ago
  A pension invests the money into stocks, bonds, etc. It doesn’t just pay out more than you put in using incoming cash. Owning land is not a ponzi because you actually own something. It would be ponzi if someone told you that you were invested in land but they had actually just pocketed your cash and used other investors’ buy-ins to pay you.
sooyoo 4y ago
The illegal part about them is usually the fraud aspect. You tell your investors one thing but then do something else. One may argue that that's part of the definition of a ponzi scheme, i.e., if you are open about it then it's not technically a ponzi scheme sincs it's lacking that particular necessary characteristic. (With that definition, ponzifarm is not a ponzi scheme.)

noeltock 4y ago

Important note: this is running on test-net, there's no real money at play here.

simple-thoughts 4y ago

The value of ponzi-like blockchain games comes from the entertainment of playing, which is what makes them positive sum. The issue with this project is (1) community too small to be engaging (2) art and site is too generic and not entertaining. There are thousands of ponzi-like blockchain games (just search BNB miners as an example). I don’t advise building these type of ponzi products as there are ways to build entertaining dapps that also are financially positive in average through careful treasury investment in stablecoin products.