Post
Topic
Board Beginners & Help
Is it OK to join a pyramid scheme if you're in early?
by
bittycoin
on 22/06/2011, 04:36:26 UTC
There's a fun new game where you can double your bitcoins:

http://forum.bitcoin.org/index.php?topic=20087.0

The operator is very open about how it works:

  • New players pay off old players x2
  • The game ends after nobody plays for a week
  • The operator keeps the btc left in the pot at the end of the game

There's even a Google Spreadsheet showing all the contributions, fees and the payouts.  Kudos to Jordoss for running such an open and transparent game!

Since it's no secret that those at the bottom of the pyramid will lose their bitcoins, is it moral to play if you get in early?

Or is it immoral to participate in an activity that is guaranteed to enrich a relative few at the expense of the relative many?

Full disclosure -- my greed won out, and I bought in!  It's only been running for a day, so chances are people who join now will get a double!

And it's all in fun, right?