Lets make a smart contract bizbros

[Anonymous No.14869630]

here's the plan

> set up a smart contract
> where everyone who signs up is obliged to pay 10 link a month towards fulfilling the contract for the next ~ 10 years
> the way it will work is
> we pool our link together
> and that link goes to a person until it is worth 10K link
> and then it goes down the chain to the next person
> so that first person has 10k link
> but
> they also now have to pay 10 link a month
for the next 10 years so the next person gets to cash out 10k link
> me first
> whos in?

[Anonymous No.14869652]

Pathetic nulinker

[Anonymous No.14869664]

>>14869630
> and that link goes to a person until it is worth 10K link
> and then it goes down the chain to the next person
> so that first person has 10k link
huh?

[Anonymous No.14869694]

>>14869664
> 1k people say yes to this right now
> all of them put in 10 link
> 1k x 10 link = 10k link
> then next month
> we do it again
> and so on

pls fren i need the link

[Anonymous No.14869716]

>>14869630
Anon you realize this wouldn't actually create more wealth in a closed system, right? You're just moving the LINK around between the people who contribute?
Is this just some sort of poorly executed Ponzi scheme?

[Anonymous No.14869739]

>>14869716
but more people can join whenever they like
they just have to fulfill the 10 year contract term

[Anonymous No.14869775]

>>14869739
So everyone pays 1200 LINK over ten years, so that the first few people on this "list" get to have 10000 LINK immediately?
Jesus you're a moron.
This is exactly a poorly executed Ponzi scheme.
Except it's so obviously a Ponzi scheme that you're not going to get anyone to actually sign up for it.
Jesus christ.

[Anonymous No.14869798]

A thread died for this. Fuck you OP you absolute brainlet. You had 2 years to accumulate a 10K stack.

[Anonymous No.14869838]

>>14869775
Kek this. If it was some lottery contract that uses sgx randomness then it would be a cool idea. The biz lottery. Just make a site and show your code for the contract, put some rare memes on there and it draws every 7 days. Here's how it would be. You buy a ticket, this ticket has a set of eglible entries e.x bronze ticket is 100 entries so every 7 days you automatically send 10 link. Like a lottery subscription. Gold tickets are for 100 link every 7 days etc. Though I'm not sure how to work around the fact that someone can send 10 link from multiple wallets increasing his chance of winning

[Anonymous No.14869844]

>>14869838
thanks anon, i'm gonna do this

[Anonymous No.14869965]

>>14869838
>>14869844
For fuck's sake, this already exists. You think this is a new fucking idea?
Google "ETH Lottery" or "Smart Contract Lottery" or "Blockchain Lottery" and play one of the thousands that are already made.
It can be done entirely on-chain - it doesn't need off-chain data so an oracle or LINK aren't necessary.
This is one of the use cases that ethereum smart contracts are already well suited for. It can be done entirely with ETH tokens.
For fucking fuck's sake.

[Anonymous No.14870088]

OP, I apologise for being mean. It occurs to me that you're probably a younger person, and you're just sharing your ideas. Keep doing that, don't be scared off by mean assholes like me.

The lottery thing is a good idea. It's not a new idea, but it's a good idea -- that's why people have already done it.

Your first idea was a bad idea, but only because you didn't think it all the way through. If a scheme requires more people to sign up after each person signs up, in order for each person to make money, that can't be sustained. Eventually people are going to stop signing up (or you run out of people in the world to sign up) and a whole lot of people who did sign up won't be able to make the money because not enough people signed up after them. That's a Ponzi scheme, and you should look it up.

OP, keep thinking of new ways to implement smart contracts. Don't give up. One of these times you'll come up with a good idea, and you can start a business from it.

[Anonymous No.14870161]

>>14869630
a literal, PONZI