Actually, the worst thing would be if the price of the minting increases at a rate slower than the value of half the pool grows. Then every next bid would still be “in the money”, and then whoever doesn’t go bankrupt first wins. This thing could eat the whole world. Terrible. Kill it with fire.
The price of minting will increase a little slower than the growth of the pot, but it will never reach a value greater than about 450x. It would approach it asymptotically.
It would be interesting if several participants battle with each other for a while. Then, when they are worn out, tired and out of funds, a new participant claims the pot with a single mint at the end :)
I shudder to imagine the mutual funds created to fund bids on this thing.
How hard do you have squint to not see this thing as pyramid-shaped? This thing is like Sierpinski’s pyramid. It’s fractally a scam; a scam at every conceivable resolution.
Actually, the worst thing would be if the price of the minting increases at a rate slower than the value of half the pool grows. Then every next bid would still be “in the money”, and then whoever doesn’t go bankrupt first wins. This thing could eat the whole world. Terrible. Kill it with fire.
The price of minting will increase a little slower than the growth of the pot, but it will never reach a value greater than about 450x. It would approach it asymptotically.
It would be interesting if several participants battle with each other for a while. Then, when they are worn out, tired and out of funds, a new participant claims the pot with a single mint at the end :)
I shudder to imagine the mutual funds created to fund bids on this thing.
How hard do you have squint to not see this thing as pyramid-shaped? This thing is like Sierpinski’s pyramid. It’s fractally a scam; a scam at every conceivable resolution.