⭐ Merited by xandry (4)
It's been mentioned/requested a couple of times
Exactly. FYR: https://bitcointalk.org/index.php?topic=494662.0;allTheymos' response 1:
https://bitcointalk.org/index.php?topic=494662.msg5473635#msg5473635
New categorization might be good, but what exactly distinguishes a Ponzi-type game from other gambling?
Theymos' response 2:
https://bitcointalk.org/index.php?topic=494662.msg5490114#msg5490114
Ponzi owners say to users that is "120%" "LEGIT" "STABLE" and other shit. They do not say - you MIGHT lost lost your money.
When you place a bet @casino - you know what you are doing and you know before you place a bet that you can be a looser or a winner
that is main different between Ponzi and other gambling projects.
When you place a bet @casino - you know what you are doing and you know before you place a bet that you can be a looser or a winner
that is main different between Ponzi and other gambling projects.
PonziCoin says "So, I could lose all my investment? -> Yes, that is the gamble you take when playing Ponzi games," and, "you should never deposit more than you can risk losing." Does this make PonziCoin not a ponzi?
If there are many people who like traditional gambling games and not Ponzis, then a category should probably be created, but I'm not sure where the line would be drawn between Ponzis and other games. Maybe traditional games must be based 100% on chance? But that'd eliminate many other games as well.
Are you serious? Casino games can be provably fair. You don't go in expecting to win. It's a chance.
If you're good at poker, you might go into a poker game expecting to win in a high percentage of games. Similarly, people skilled at playing Ponzis might expect to win often enough to get ahead. In both cases, newbies are very likely to lose a lot.
I think that it might actually be possible to make a Ponzi game trustless using advanced Bitcoin features like LockTime.