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RE: Magicdice game over!
Dear @niel96, so if it is ponzi scheme, why steemit administration do not stop them to use our blockchain? Is it so real anarchy this fucking shit steemit?
Dear @niel96, so if it is ponzi scheme, why steemit administration do not stop them to use our blockchain? Is it so real anarchy this fucking shit steemit?
It's a ponzi scheme because they have not really a way to generate revenue. Players pay for upgrades and then they use 80% of that money to payout users and 20% goes to the developers. So basically old users are payed out with money from new users. That's why the steem reward pool was declining all the time, nobody was putting in any more money.
Drugwars was actually a very good idea but it went wrong in the execution of the game, they didn't think out everything properly. And they shouldn't have made these promises that you can earn steem which made some people invest a lot. They created the high expectations themselves...
There is not really much stopping them. They have enough steem to do a flag war if they wanted. Karma will also catch up with them eventually since nobody will trust them anymore in the future when they come with new projects.
It's pretty much anarchy but that's where everybody asked for. It's one of the downsides of the decentralization. But it's not really different than most capitalism, steem is controlled by a minority who have a big stake. Which makes it more of a monarchy than anarchy, the elite is still in control.
Besides that they did a bait and switch game. People paid them in Steem and now they want to give some worthless Future tokens? Nobody wants those tokens.
If the Drugwars developers would have lived in the USA they would have been sued already.