Quote from: rammy2k2 on January 16, 2015, 06:30:06 PM

Quote from: CrazyJoker on January 15, 2015, 10:03:06 PM

Ponzi Games are getting interesting, but as well as it is getting risky. Operators are keeping things hazy to the investors. As a coder I am preparing to launch a provably fair ponzi game. Would like to know what are the points people are suggesting to cover so that we can minimize the risk as well as make it provably fair and interesting.

Ideas are welcome. Please make this discussion constructive...

Ponzi Games ? ... your IQ must be well below zero ...

You just throw out these simple statements all the time. How do you support gambling and making statements like that? Do you hold an interest in a gambling site?

Anyway these games are not proper Ponzi schemes. There are risks but there are risk of any kind of BTC game. From http://www.law.cornell.edu/wex/ponzi_scheme

Ponzi scheme

Definition

A type of investment fraud in which investors are promised artificially high rates of return with little or no risk; original investors and the perpetrators of the fraud are paid off by funds from later investors, but there is little or no actual business activity that produces revenue. The scheme generates funds for previous investors so long as there is a consistent flow of funds from new investors. This gives the impression that the earlier investments drastically increased in value in a short period of time. The scheme inevitably collapses when too many investors demand redemption or the scheme fails to attract a sufficient number of new investments. The Ponzi scheme is named after Charles Ponzi, who in the 1920s defrauded thousands of investors in Boston.

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So far I don't see people promising high rates of return with little or no risk. These games are clearly labelled how they work.

The only valid issues that I've heard are:
1) There isn't a good way to know the operator doesn't put in his deposits early. However these sites do charge high fees so it is unlikely they want to make money that way as that would discourage the deposits they need.
2) The operator could just run away with the funds. That is a common risk to many games, not just these Ponzi style games.

Anyway, in many places it is illegal to gamble unless the government is running the game, so in that context these would be illegal. However it is unclear if these games would be illegal where gambling is legal. I don't know of any court cases. So claiming they are illegal is just blowing smoke.

However, I do agree these games are very high risk. It isn't clear that the risk is really worth the award.