A Decentralized Ponzi Scheme

The next amount should be: ETH.

Duplicate your money! ()

Contract address: .

Ponzi what?

In 1920, Charles Ponzi had a "great" idea. Offering to the investors an annual interest higher than the market. To maintain the scam he planned to pay the first investors with the investments of the next.

That "logical" idea was not invented by Charles Ponzi and of course he was not the last one who did it. Some examples are Bernard Madoff, most social security systems and most of ICOs. The idea is simple, who arrives last, lose.

Why this?

A typical Ponzi Scheme is based in a "product" which serves as a disguise for scamming the investors. Why it should be like this? A Ponzi Scheme is an scam because it tricks people into it. Is not a clear contract. Making it in the Ethereum network makes it perfectly clear. If you put money, you run into the risk of no one putting money after you.

When this ends?

In theory, it ends when the scam author runs with the money or the scam is discovered and the investors run with the money. In the Ethereum network this things can't happen so it ends when no one wants to put money in (technically) and in theory when the next payout is higher than the circulating supply.

What is sure?

The sure thing is that in the long term, someone lose. It will be you?

Which networks are supported?

Ethereum main network and ropsten testnet