A ponzi game called FOMO3D may change cryptocurrency as we know it.

in #cryptocurrency6 years ago (edited)

A game is running on the Ethereum blockchain in which the last person to invest Ethereum wins the entire investment till then. The question is : Will any human being allow another human being to be the last person to deposit Eth to the game?

The answer is : Not easily.

Consequences :

A significant portion of the total supply of Ethereum could be locked up into this game

This game could go on for many years altogether slowly eating up the total supply of Ethereum.

Once the size of the pot becomes big enough, hacking this contract could become the biggest financial hack that the world has ever witnessed.

Could this game totally end the credibility of cryptocurrency as a whole?

Could this game, after locking up a major chunk of the total cryptocurrency value, be the cause of the next big bull run?

FOMO3D game status at :
2:45 PM
Wednesday, 25 July 2018
Coordinated Universal Time (UTC)

f3d.png

The FOMO3D has locked up 0.02% of the total supply of Ethereum and it is not going to stop.

Vitalik Buterin on FOMO3D game

vitalik.PNG

Fomo3D is a decentralized, trustless blockchain game running directly on the Ethereum network. Here are the basics of how Fomo3D works:

This is a lottery game in which the last person to buy a key at the end of a round wins the pot!
During a round, people can purchase 1 or more keys which adds time to the timer and marks them as the current leader. With each key purchase during the round, the key price increases slightly.
Players receive a stream of passive income from the game as keys are bought during the round. These rewards can be withdrawn anytime.
When the timer reaches zero, last person to buy a key wins! (F3D players/P3D holders get a piece too!)
With a few cool added game mechanics:

Players select from one of four teams which determine certain rules during the round.
P3D holders receive dividends on each key purchase and at the end of the round.
Players can purchase a vanity URL and/or refer your friends to the game for extra rewards.
Buying keys offers you a % chance to receive an "airdrop" winning ETH from a growing side-pot!!

pyramid_p3d.jpg

Here is a comment by the developers

P3D currently has a market cap of about $76m and a daily trading volume of $2-4m. Putting it comfortably at #116 on coinmarketcap (if it ever figures out how to get listed there properly), and somewhere around slot #75 for total volume rankings.

Lots of cryptocurrency likes to boast that it's decentralized, but genuinely i don't think most P3D viewers or players realize how evenly distributed P3D currently is compared to... well everything else.

How ironic that the coin so often called"Pyramid" is easily one of the most evenly and smoothly distributed cryptocurrencies that has ever existed.

Key Growth Model (Mathed by Inventor)

  • 1 Million ETH invested into a round (1% of all ETH in existence) would equate to 0.0176 ETH per Key
  • Hypothetically, if F3D were to suck up 50 Million ETH into a round (Half of all ETH in existence) a key would cost 0.125 ETH
  • Assuming Team stats continue with current averages, and 30% of that 50 Mill ETH goes to the pot, that would be about a $6.75 Billion Pot (based on current ETH prices)
  • In Summary, price per key will never exceed 1 ETH, even with all the ETH in existence sitting in the contract
  • This means that key prices will always be affordable compared to the size of the pot you're playing to win
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I appreciate that audio file. Thanks! I'd much rather steer clear of this.

wow so there is no way to win unless you are the last one to send !!
well that's a smart ponzi hahaha , yeah actually this may never end

Dear, as u mentioned it is not easy , can we considered these points ?

Wow this game was runs with the block chain technology. Now the block chain uses for game.