Ethpyramid Breakdown

I wanted to create this thread real quick, because I feel like people have done a poor job actually being clear about this ethpyramid shit, and so most people don't actually realize how genius the algorithm is.

The reason it's called a self-sustained pyramid scheme, is because it is.

>1.) Whenever someone buys, the price goes up by .25% per token, whenever someone sells, the price goes down by .25% per token.
You cannot run into the issue where someone is forever left with bags.

>2.) Whenever someone buys, 10% of their buy-in gets split among all other token holders. Whenever someone sells, 10% of their sell price gets split among all other token holders.

Do you effectively realize that this is a system to cycle money, and let anyone become rich in waves? Example:

You buy in, and someone else that controlled a majority of the tokens decides he's made enough, and cashes out. Everyone else gets a portion of that whale's cashout, and can immediately re-invest the dividends to acquire more tokens. Those tokens the whale had are DESTROYED, reducing the total supply, so that you have a larger portion of existing tokens, and as such, get MORE dividends because of this in the future.

The longer you stay in, the more you inch your way up the pyramid, until you, too, decide you want to cash out, allowing other anons to move their way up.

It's been running for 5 days now with no issues. It's been heavily tested to not fuck up like PoWH, and there are no more vulnerabilities. Explain to me why keeping your ETH in this while you're just holding isn't the best possible thing to do?

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Stop spamming faggot owner of eth pyramid

Good luck getting someone to buy your bags. No one is buying in again, that's why this project has been flat. You claim you cannot forever be left with bags. Currently your bag holding asses are doing just that.

i like it. its like social security. i put 10 dollars in

you never take anything out
>mfw it actually is just like social security

Some are buying, some are selling. that's how it's designed to work

I'm not the owner, I'm someone that's excited about this because I realize what we're ignoring. I bought in with 15 eth and I have 15.9 now, continuing to reinvest dividends to have more tokens to move my way up.

I'm not holding bags, I'm in profit. Do you actually have a counter-argument to why this isn't a fucking amazing contract? Can you actually think for yourself instead of acting like a boomer asking where Bitcoin's intrinsic value is then smugly laughing to yourself when it crashes from 19k to 7k even though it's still up 20x from what it was years ago?

Engage me in a conversation about this, I'm not trying to be a fucking pajeet I want to have a discussion about the good and bad sides of this, where my opinion is that it's a goldmine.

Bags? Hahahahahahahaha you realize I make interest the bigger my bag is right? Additionally, how long does it have to be before it becomes a bag? Because this only started 4 days ago....and I just got in like most. Hard to Baghold something that hasn't existed before now.

Idea of eth pyramid is great, the only problem is how easy some tard can copy paste a contract and setup a new website.

People get greedy short term so they try to make their own pyramid where they are at the top. Honestly this is the same reason why there are so many shitty coins. Ever sit there and think "do they really need a separate coin for this? Why can't they just use ethereum / bitcoin / ltc or whatever else that exists already? More often than not it's just because making their own coin / token is their chance to be at the top of the pyramid.

Good luck, people can't pull their heads far enough out of their ass to not see shit. I agree on it being a goldmine and eager to see someone who can disapprove it.

Either way I'm /comfy/ in ethpyramid

you should spam this to normies
you guys never do because to get to normies, it would actually have to look authentic and not all ironic "lol its a scam dont buy"
if it would look authentic, it would be more of a crime (though it still is)

>15 eth
that's ballsy, grats on these winnings
take 0.1% of that risk in my clone and see where it leads you
so far only me and one mysterious user who joined the boat 5 hours ago, which is odd because i haven't shilled this since yesterday

Absolutely true, although as we've seen with Bitcoin/ETH/LTC, that the first mover advantage always has those be on the top. Ether pyramid schemes have not taken off to that level, but we can see a mini-ecosystem that mimics crypto in general.

It's also more dangerous going to a clone because of how easy it can be forgotten about, especially with something as new and obscure as this, it's even worse than risking it on a shitcoin.

As the weeks go on I expect that more people will be open to this, as everyone's been scared off by PoWH, understandably so. Stability needs to be proven now, and not said.

I think that's the single biggest issue right now, confidence. The lack there of is totally reasonable for something called a scam coin. But I'd encourage you to look for yourself and give it your own name. If I had to name it, it would be ethbank or someshit.

But those madmen that get in early can expect dividend a to reach Lamborghini heights.

It's a pyramid scheme. It doesn't matter how they structure the algorithm. You make money if you get in early. Otherwise you're a bagholder.

The sell price has been steadily declining over the last several days. In order to break even on this thing, either the price needs to go up or the dividends need to make up for the immediate 10% loss in value upon buying in.

Neither of those things are going to happen at this point.

EthPyramid and other POWH clones are only self-sustaining in the sense that the pot can't be drained by a bunch of people panic selling, but at the end of the day it's still a zero sum game that transfers wealth from bagholders to early investors.

The fact that you made this post suggests you're a bagholder.

It's not supposed to go up forever it's ment to crash too. Once it crashes, it can begin again all in the same smart contract. People that don't bail out get rewarded with divs, it's that easy.

Last time I checked, this is the first time in history something like this has been done so I'm stunned at your acuity to predict it's future so surely.

>You make money if you get in early. Otherwise you're a bagholder.

Did you read my post about how this isn't the case? If everyone else sells I'll be fine, because as the pot gets lower, the % of divs I get from each successive sell increases as I control more of the pot. It's impossible to baghold.

I have the majority of my eth in this because it's the smartest place for me to keep it if I'm just planning to hold it, which I am.

So you are factually wrong on your above points. The entire reason I made this post is to get others to see the potential. If it goes to 0 I don't give a shit since I'll still be feeling good--if people buy in, I'll make more, if they don't, I'll just cash out if I see a coin I want to put my ETH into.



I put the rest of my metamask change ($30) into this after the powh exit scam. I got in during the first hour and now it's worth less than half with less than 10% in dividends

this coin is fucking genius

i already tripled my money easy and sold my tokens back into the pyramid

Why don't you wait a week. Jesus, I can hold shits longer than yall can hold coin

Just hold it. The pyramid shit got saturated fast, and all it's done is lost people money thanks to the failed code of PoWH, and the clones acting as just gambling simulators.

It'll take a bit before people are open to this again, and the longer this one stays up, the more legitimate it becomes as people realize it's not just going to disappear overnight.

Plus, the more people sell, the more you can buy back in when it hits rock bottom with your dividends and own more of the total share of the token supply.

This coin is the complete definition of "Time in the market beats timing the market"

I holding it right now you retard I'm not going to take $10 out

> Did you read my post about how this isn't the case?

I was in the original PoWHCoin within the first 5 minutes, newfriend, and I made a shit load of money. I know how this works.

> It's impossible to baghold.

Where do you think your gains are coming from? This isn't a perpetual motion cash producing machine. That cash comes from other idiots who bought in too late and had to sell for a loss.

> If it goes to 0 I don't give a shit since I'll still be feeling good--if people buy in, I'll make more, if they don't, I'll just cash out if I see a coin I want to put my ETH into.

You're foolish to keep your money in this indefinitely. If somebody finds another integer overflow exploit in this smart contract, you're fucked. And even if you don't get fucked by a smart contract bug, if this goes to 0 (which it will eventually), you'll need to have made enough in dividends to justify the lost profits from appreciation.

>somebody finds another integer overflow exploit

do u know how to read code? there is no possible way for there to by any integer overflow/underflows that ruin the contract.

go read the source code for the contract lol the safe math code is towards the bottom and is religiously used throughout the code.

look at the bottom of the code and read it you scrub

>read the code!
I take it you're the guy that read the code for powh and claimed the easy 1 million

The money comes from people selling, but it doesn't have to come from people selling at a loss. See the cycle:

Early as fuck buyers -> Makes a ton from Dividends and tokens appreciating -> Early buyers sell -> Late buyers get dividends from the sell, but token value goes down -> Late buyers re-invest the divs after early buyers sell, have more tokens -> Buyers higher up in the pyramid just after the earliest buyers continue to make a ton, get moved up to the top now -> Sells -> Late buyers are now mid-tier buyers as they slowly control more and more total tokens.

The only way people lose money in this is if they're impatient panic-selling retards. There's a reason the original idea was called Proof of Weak Hands.

Sounds like you sold early and got burnt

Power of weak hands, thanks for the dividends

no i was the one who warned everyone of how amazing bad the code was lol

I'm not quite sure what your argument here is. You're objectively incorrect that there will ever be an integer overflow bug due to the applications of safemath.

Can you do something other than shitpost?

Wow a literal shitting street in here. I bet you pajeets think integer overflows are the only type of vulnerability

Again, can you do anything other than shitpost? It just looks like you have no response to logic, appropriate you post those brainlet images.


There's over 100k in the contract go for it buddy

whatever you're being paid, it's too much

Rajesh you're going to have to try harder if you want more people to sell for your dividends.

Makes a lot of sense that they probably have ethpy right? Not just pageet? Moron

The bug wasn't caused by an issue that SafeMath could have caught, dumbass. Here's the transaction that drained the contract:

Go and read the implementation of the transferFrom function and tell me where SafeMath would have come in to play.



Safemath is in the new contract to prevent it from locking up like Shadow did, and to prevent underflows and overflows.

The exploit that drained the PoWH relied on that.

If the contract is so hackable, go and get it, there's still over 200 eth in it just waiting to get taken. People have been attempting to since day 1.

You linked the wrong transaction, that's just some guy having fun 7 hours ago with the long-dead contract.

As for the line SafeMath would have caught, it's 201:
balanceOfOld[msg.sender] -= amount;

SafeMath wasn't actually necessary because the bug was using msg.sender when the sender wasn't even necessarily even involved in the transaction. transferFrom DID correctly make sure that the person whose tokens were SUPPOSED to be drained had enough balance, but then it started using msg.sender instead of that person and as such it was no longer using an address whose balance was checked. This is already a catastrophic bug with or without SafeMath, but SafeMath definitely WOULD have made it impossible to mint a gorillion tokens through that bug. After all, he got that many tokens because he removed more tokens than he owned from his own balance, thus wrapping around from 0 to the maximum unsigned integer.

Bump, to make sure people see this.

Someone say...BUMP