Pyrmex.com is getting release in minutes and will act as a futures market for Ethphoenix.io...

This is fucking insane. Good but insane.

How do I make money on these futures?

Yeah, if you could pump it in the next 24 hours you'd make bank

>0xFFFFFFFFFFFFFFFFFFFF

That's been tried PLENTY of times already, trust me.

Go long on ethphoenix and any other PoWH clone: Even if they end up trainwreck's they'll fucking moon beforehand.

How long until Vitalik unplugs your little smart contract?

With a month-old hard fork? Yeah that's not going to happen.

So you're saying they're going to go up???

You faggot....

You faggots just...

You ACTUALLY you just

You made a FUTURES MARKET FOR YOUR PONZI?

holy fuck that is brazen

you absolute fucking madmen. this won't end well, but I'm in for the ride.

So a whale could bet either end of the spectrum, and once betting closes, either buy enough EPX to make his position come true, or sell enough to make his position come true. Either way, if I bet the ends, and a whale comes and makes them happen, I win right along with that whale!

Why not put .001/.002 on the long shot bets?

It's like when POW3D launches and what? A65ETH buy, and 35ETH buy right away, both cashed out pulling 50% gains from the pool?

You know those same guys are watching this new idea, scheming how they can make 5-10-15ETH in a day, maybe today, maybe some day soon.

Makes me think I should own more EPX in addition to betting, just to get those divs from them moving the market!

Even if EthPhoenix is a scam, the devs would gain way more by not pulling anything and just letting an unbreakable pyramid scheme ravage cryptoworld.

The only issue is that outside forces might intervene.

Blockchain will ruin the financial sector. Hope you're ready for WW3

How are they going to intervene? Buy in? :-D

Oh my god you faggots. You faggots. What have you done. You cant margin trade a ponzi what are you doing with 116x leverage holy shit you FAGGOTS

Oh my god this is how it ends you faggots. Are you fucking kidding me right now leverage via smart contract? Oh fuck. Oh FUCK. YOU DONT UNDERSTAND WHAT YOU HAVE DONE.

Wow. They actually did it.

Best bit is - we didn't even make this. This was community produced. We have no connection to it beyond having looked at the code and making sure it checked out. :')

Seal Team Six EMPs the server room after EthPhoenix obliterates the world economy

Guypullingareallyharddragonacig.jpg

Only option is to get in now even if its just with .01 eth

And hold on for dear life.

>guys
>what if
>guys WHAT IFF
>guys what if we could margin trade a ponzi?
>GUYS
>guys what if we did it via smart contract?

What if there was a pyramid scheme with no driver at the wheel, just bagholders reinvesting their dividends.

All it would take is one piece of code and somebody iron-willed enough not to abuse it and what the fuck is anybody going to do about it.

lets say someone makes $1mil off this
when this gets seized by the SEC, will that guys cash get seized too?

What's stopping someone from going max long then dumping ETH into the contract?

>seizing crypto

Fuck that shit, it blatantly tells everybody it's a pyramid scheme.

If the SEC cracks down on crypto like that the SEC shouldn't exist.

Nothing.

holy fuck...

Absolutely nothing, in fact, it's encouraged

And if you happen to place a very bullish bet, you'll make insane multipliers along with him

Absolutely nothing at all. And that's why it's beautiful.

It

>what is an unregulated market

buddy, the gov is coming, you all know it
i paid my taxes and got the fuck out at 17k, now im in the actual stock market with options, which is real money
dont fool yourself, blockchain will be the future, but it will be regulated and gov controlled

IT CANT GET SEIZED ITS DECENTRALIZED LMAO.

AN INVINCIBLE PONZI.

IT COULD LITERALLY END THE WORLD LMOA.

>Govt declares internet illegal
your move

Skycoin?

INVINCIBLE. PONZI. WITH DIVIDENDS. WITH 116x LEVERAGE TRADING.

oh my fuck you faggots what have you done

I just told my uncle who works at merril lynch about this over the phone and he started laughing his ass off

I havent heard the man laugh in about 10 years, and hes fucking giggling

I think it will be regulated too, but you can't seize a string of numbers and letters out of someones brain, m8

#sorrynotsorry?

so whats your plan here then?
trade now, and pull out early?
this coin will not last long if it gets massive public attention

I don't understand the threat you think I am facing, user

I just don't tell the IRS my private or public keys. How do they know who I am?

They could try and take down the domain, because that's worked really well against thepiratebay, but even then the smart contract would go nowhere.

>Trade in however much you can afford (without going into debt, you retards)
>Decide on a ratio of dividends back to eth and dividends reinvested
>HAVE STRONG HANDS AND RIDE THE DIVIDEND SNEK
>?????
>Profit!

if you keep your recovery phrases in the physical world you're fucked.

so you think the IRS is going to storm into everyones homes, tear apart their libraries, and blindly discover who does or does not have private keys written down?

just stop

Probably not everybody. Just the few at the top.

Only if they have revealed somehow they own crypto..

I'm not advocating evading taxes on cashouts to fiat. That will always be difficult

how are you guys not expecting reporting 1,000% gains on your $5000 initial in the first year not to raise questions
and then the next year
and the year after
i dont understand how you guys think this will work in the long term
only report 50k every year?
stay in a modest apartment?
i know you fucks wont do that

>reporting yearly gains
>long term
pick one, there's no reason to report your gains if you aren't making any fiat gains

they aren't even legally gains until you do

so what do you do with the money
how the fuck do you buy shit
youre giving me a scenario where you never pull out and just sit and sit on it

is buying internet coins your fulltime job or something?

I'm not buying anything with my crypto until that shit is ironed out.

And look at all the projects aiming to make crypto debit cards. It will happen eventually.

If I make 1000% on $5k in?

LOL - happy to pay the taxes, when I cash out. It's all Capital Gain and only half taxed in any case (your country may differ)

Also in the US if you hold for more than a year you don't pay nearly as high of a tax.

It's totally reasonable to pay the tax and walk away with fat profits, but being as we are in such a speculative rocket-to-moon era, most people want to hold until they get to Saturn

> living in a country that has CGT
> ISHYGDDT

PRISM bro, they know you own crypto.

banging hot taxes

and you think they're going to bankrupt the majority of crypto holders with taxes?

You guys sound like conspiracy theorists. That would be AWFUL for the already terrible US economy.

You have no idea just how stupid people can be.

>dont make a shit ton of money because you will have to pay some taxes on it

ok

So where are all the peeps that thought EPX is going to fail? LOL. Even they didn't believe what they were FUDing.

HUGE winnings possible right now if EPX does drop cause everyone is betting that EPX goes up!

I'm just saying that if taxable events end up being what you both seem to believe they will continue to be, most crypto holders will be absolutely bleeding money.

The US doesn't want that to happen. They want their citizens to be able to invest from the comfort of the first world. They just want to take their cut.

>The US doesn't want that to happen.
Not yet it doesn't. What happens when crypto threatens the USD?

You don't have to be a conspiracy theorist to come up with that outcome.

Then they will integrate crypto into the banking system, and tax it, or banks will end up going out of business.

Vietnam uses 3 different currencies. You're thinking from a "this is how it is" standpoint, and not "this is what might change" standpoint.

Things will inevitably change in the financial sector, they always do

>Implying thats even possible when we're still the reserve currency of the globe while being trillions of dollars in debt

BUMP eth coming in hot
smart contract here
etherscan.io/address/0x9588c09cd9fd71ccfd0b54161c173f29cac23cf0

What is this supposed to be?

This seems more like a self-contained micro-market in its embryo. It wouldn't be hard to implement all the other bells and whistles of investment and speculation.

www.pyrmex.com

But it has too much ETH in it...

The pot is heating up boys and girls!

5.1 eth since thread started

That is 4 eth the creator seeded with of his own money to pay out.

It's theoretically possible but not probable to bankrupt him

DON'T send money to that contract without using the website, or you will become part of the payout pot.

There is currently 1.2 eth worth of bets, and the rest is eth stored for paying out in the rare case you win so much that you need some of the house money

but that is the correct contract

I don't know how the math works but I would suspect the house never has to pay out and it's all percentages.

there is a rare case where you can be the only person betting, and attain a high multiplier yourself with a little hedging

but in any case thats where the 4 eth came from - it came in with the contract creation tx

Any plans to market the futures contract?

Craig made a video today already. Its pretty autistic but at least he tried and a lot of people watch his shit. literally

Checker out
youtube.com/watch?v=K6vNi0GwueY

Theres also over 1 eth in the Phoenix marketing wallet thanks to tocsick gloriously dumping on 3D, so I'm sure something will be figured out for reasonable exposure

my concern is explaining it in an accessible way

>holy fuck that is brazen

Wait til someone makes an XIV contract to trade the volatility of the futures contract, someone else makes a whole set of futures contracts on any other Ponzi's, then someone else creates an ETF-style fund to invest in all of them, that you can borrow on margin using Ethlend, which then backs an ERC20 token able to be traded on Forkdelta, cashed out using Dogethereum and sent to Bittrex, where we trade it as an Eth pairing, the profits of which are invested into Ethphoenix.

GG SEC accountants.....

>How are they going to intervene? Buy in? :-D

Shut down ALL of Ethereum user. Ya know, the same way they shut down torrent sites etc, which are even less secure and more centralised.

...

>but you can't seize a string of numbers and letters out of someones brain, m8

You also can't remove a smart contract without a hardfork. And that'll never happen again.

To anyone who doesn't understand this, this CAN'T be stopped. Even if Norsefire wanted to, the SEC tortured him over an open flame etc - it CAN'T BE STOPPED. It's immutable. So is the Futures contract.

And if they aren't in the US?

Not only that, but this isn't Bitconnect. We all KNOW it's insane. It makes a MOCKERY of all good economic sense. Trying to charge the devs, possibly in a foreign jurisdiction, over an indestructible piece of code is just tilting at windmills.

>how are you guys not expecting reporting 1,000% gains on your $5000

Consider what's been done. Consider the madness of it. Consider the sheer, unholy level of autism that created this.

You think we've thought that far ahead really?

I'm hoping that after the economic singularity breaks the SEC's collective mind to just slip away unnoticed.

None of the developers live in the United States. None of us are even in the same country as each other.

>Even they didn't believe what they were FUDing.

I wonder how many were accumulating....

BUMPPP

I dunno, I just watched it and thought his video could've been better. He didn't even get into the whole madness about the Futures contracts, and seems to be under the impression that PoWH3D was the first mover here.

Meh, publicity is publicity I guess.

Lol! This is madness, can't wait to see the first outcome