The fomo is real!! this could actually end up being one of the biggest lotteries in history!
(RULES OF THE CONTEST AT THE END OF THE POST)
In case you haven't heard the hottest DApp on the Ethereum blockchain since of friday is F3D aka FOMO3D aka EXITSCAM
it's as ponzy as it gets and this was my experience with it.
So like the title says, 90 K eth already, holly molly!!
the F3D team has done a great job marketing this as a trollish scam, as a humorous ponzy, and people still couldn't stop themselves from buying, myself included!
its pretty much the same team that desigend P3D / Proof of Weak Hands, and some other stuff - but maybe ill cover that in another post.
i heard about F3D about a week ago and i was intrigued by the logic of the game, with the keys and all - ill cover that a bit later, but didn't buy right away as i had other stuff on my plate.
a couple of days pass and in cleaning up my browser i find the open FOMO3D tab still open, THE POT HAD DOUBLED!!! so i decided its still early enough in the game, SO I BOUGHT IN :))
i justified it to myself that its not as much a ponzy if they declare it as such and all players are informed about the risks. it was my first "scammy" investment and i was uneasy with it, so i started doing some research on it, to find out what i had gotten into more than anything..
turns out the game was inspired by the reddit social experiment/game "The Button" (https://en.wikipedia.org/wiki/The_Button_(Reddit)) in which players pressed an online button that was on a cowntdown from 60 seconds to 0, but would reset to 60 when pressed. the experiment lasted TWO MONTHS!!! and there were no financial incentives!
how FOMO3D works:
players buy KEYS with eth. the KEY is magic, the KEY unlocks the final pot, the KEY pays dividends, the KEY adds 30 seconds to "the clock".
THE CLOCK - thats's a countdown that can never go over 24 hours and each time a key is bought 30 seconds are added to the clock, unless its at 24 hours already in which case it stay there.
the round ends when the clock goes to zero! the WINNER is the holder of the last key bought, he gets HALF the pot!! the other half of the pot goes to the rest of the players and keyholders, im not gonna go into the exact numbers here, we'll cover that later.
by the way, if you were to add all those seconds without capping the clock at 24 h, they would add up to about 32 years by now, so you see why it needs to be capped. and even so, who knows when this thing will end!!?
so if the counter is at 24 hours why are people buying keys like crazy when the objective of the game is to get the last key and thus half the pot?! because a part of the price of each key bought goes out as dividends to all the other key holders who bought before. also the keys are getting more expensive as the pot grows; so people are stacking up on cheap keys now as they expect the dividends generated in THE EPIC BATTLE FOR THE LAST KEY to be EEEPIC!!!
so this is the basic idea of the game, keys give dividends, keys add time to the clock, the holder of the last key bought is the winner.
also there are 4 "teams" that you can choose to play in when buying keys: sneks (yes, sneks :))), bulls, whales & bears. the team you choose determines how dividends get payed during the round. also the winners choice of team decides how the remaining 50% of the pot is split between the remaining players and the next round - there will always be a part of the jackpot put aside for the next round.
then there is the vault tab, you can see the rewards coming your way in there. "on lockdown" is what you're guaranteed at the end of the round. "exit scammed" is the dividends you've received so far. "bad advice" is the eth earned from your refferal link ((: as you can see i've given zero bad advice so far, but its never too late i guess :))
now for my personal experience, and i have to stress the point that i don't know which way it will go! it could go on for months and years and reach hundreds of millions of $$$ or it could fizzle out in a few days.. but my experience so far has been rewarding and i hope it continues to be so!
my hunch is that it will continue to grow more or less in linear fashion and when the clock starts to drop we will see an parabolic growth in the battle for THE LAST KEY!! which should be enormously expensive. even now, this pot size, you could imagine a a last key worth a couple of thousand ETH...
decentralized pools are likely to appear with the purpose of bidding for the last key, as there are few players with enough liquidity to afford such a coveted item.
i should note here again that this post is not financial advice in any way, just a review of my experience and my thoughts on how this phenomenon called F3D will evolve. so if you do decide to play the potential wins/loses are your responsibility.
but if you enjoyed this post and do decide to play, then use MY REFERRAL link: https://exitscam.me/1518
so in the spirit of exitscam F3D i've decided to share dividends with you guys! so i'm holding not one but TWO CONTESTS!!!
1ST CONTEST - WIN 33.33% OF MY FOMO3D REFERRAL BONUS!
and by that i mean 33.33% the TOTAL referral bonus generated by you guys!
to enter the contest use my referral link when/if making your first deposit. upvote, leave a comment @misu with the tx id, so i know who's who, and resteem this post.
the rest of the job will be done by an online random name picker. there will be only 1 (one) WINNER and he will get 33.33% of the total. i will record the process and make a post for transparency purposes. if only one player uses my link there will be no random name picking of course, he'll just get back 33.33% of his referral, so there's you're incentive to be first.
the logic is this, referral or no referral, that 10% that would go on a referral is still taxed out of your first deposit! so this contest is actually a chance to get back some of the value you invest. and to make it even juicier the first 3 (three) players to use my ref code receive back 33.33% of that 10% automatically, just for being first, and also remain eligible for the main pot!
2ND CONTEST - WIN 33.33% OF MY STEEM POST REWARDS
to enter this contest upvote, leave a comment @misu and resteem this post. thats it. your name will go through an online random name picker and there will be 1 (one) WINNER who will get 33.33% of the rewards collected when this post is vested. i will record the process and make a post for transparency purposes. ( the 33.33% applies to the steem available after the post has vested for 7 days and not to the 50% steam power)
hope you enjoyed this review and best of luck to you!
p.s. this is my first time organizing a contest so if you have any pointers on that i would appreciate it, thanks