Steve on Farcaster

Steve pfp

This miniapp by definition is a pyramid scheme. Pay $3 to enter, earn for your referrals. There is no experiment here, nothing to be learned. Big accounts can effortlessly extract from smaller accounts at scale. Smaller accounts stand to lose the most on this. Please consider deleting this @markcarey

8 replies

0 recast

29 reactions

Mark Carey 🎩🫂 pfp

Mark Carey 🎩🫂

It is definitely has pyramid-structured payouts. But it's not a "scheme". A scheme implies deception, and the rules and structure here are fully disclosed. It functions exactly as described. If you feel the description is misleading in some way, please share. It is a social game, and yes, it favors those with greater social reach (and those who are early). Worst case, you have "tipped" 3 Farcaster users and receive none in return. Note there is also a random component here that enables small accounts to receive payment. In cases where there is no referrer, like my share above, one is randomly chosen from those who have paid it backward, with small accounts on equal footing with large ones. In this way very low-reach users have a chance to receive backward payments, especially if they are early in the round (when the pool of user is small --> higher chance to be randomly chosen).

1 reply

0 recast

0 reaction

Chic Bangs pfp

I see living in Utah has taught you well :)

1 reply

0 recast

2 reactions

James McComish pfp

@markcarey maybe weighted paybacks could work? A with 10k followers gets B with 1k to play. A gets 1/10th the return, 1/100th? A 1/n chance to get all the return of the referrer?? Could be fun

1 reply

0 recast

1 reaction

bertwurst pfp

0 reply

0 recast

1 reaction

dani pfp

@smokingfrog.eth

this HAS to be a social experiment run it ig

0 reply

0 recast

1 reaction

tricil pfp

My spidey sense went off with that one

1 reply

0 recast

1 reaction

Nate pfp

I wonder if he takes a cut of all the txs

0 reply

0 recast

0 reaction

petar.xyz pfp

I was about to test this Now I won’t

1 reply

0 recast

0 reaction