I was just thinking at breakfast this morning that the commission rate seemed really low in order to maintain the economic incentive to not run away with all the coins, then i saw the update to the contract. still seems low to me.
is the decision as follows?....
earn 5% on the house profits, currently (.05*627 BTC) ---> 31.35 BTC / 15 Days = 2.09 BTC per day
-or-
take all 19,301 BTC and run
the lump sum would be 9234 days worth if profit averages remain steady, or 25 years, and thats not counting interest....
it seems to me that investors might feel more comfortable raising the commission even higher, so that the lump sum is not so much more attractive than continuing the business.
however, the low rates may be just to attract early investors. additionally there may be a 'reputation cost' when running away with the coins what might swings the figures.
thoughts?
I think the fact that the community is willing to invest 19,301 BTC with dooglus is indicative of his trustworthiness. There actually are some people in the world that have a conscience and genuinely aren't interested in scamming. That said, if this is an elaborate scam, I don't see how raising the commission changes anything.
I'm more worried about someone figuring out where he lives and stealing the computer that contains the offline wallet. Perhaps another solution could be arranged where a portion of the invested BTC are stored in paper wallets that are held by other trusted members of the community with the private keys being split amongst them in a manner that requires coordination by three out of five to send BTC to the hot wallet.