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"The Su Su Savings Game" Nation Building Fund  
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Author Topic: "The Su Su Savings Game" Nation Building Fund  (Read 1270 times)

wize_prime

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"The Su Su Savings Game" Nation Building Fund
« on: March 26, 2015, 05:16:43 am »

"The Su Su Savings Game" Nation Building Fund goes as follows;

Each participant commits to a three month program where they have an opportunity to win the weekly pot. Each week participants pay 0.2 MoorA Cash, the equivalence of $2 USD to the MoorCoin account. Su Su participants have the option of being in one or more of the four available groups (A-D). Each week, one person within that group will get the available pot of Su Su funds (eliminates you from winning within that group for six months).

The pot will be 20% shy of the full amount so we can build a large amount of money with little risk to anyone.



Example

Each participant (100 participants for sake of this argument) pay 0.2 MoorA Cash, the equivalence of $2 USD once a week. The pot for that week will have $200 USD (the money will be invested in the NXT Asset Exchange). At the end of the week, the winner from the corresponding group will receive their share of the winnings in MoorA ($200 USD) minus the 20% building fee ($180), in which you could; purchase MoorCoin Stock, buy MoorA (MoorCoin Cash), convert to other crypto currency, save, buy things, etc.

To receive your MoorCoin Cash (MoorA from the sign up special) you must agree to participating in the first cycle.

At the end of the each cycle, you can continue participating or exit the fund program.

If you choose to leave the program after any cycle your ticket expires, but if you choose to stay, your chance of winning within your group increases.

*For those who don't believe in gambling, contact us to discuss our savings program.

« Last Edit: March 27, 2015, 04:32:17 am by wize_prime »
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whatnxt

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Re: "The Su Su Savings Game" Nation Building Fund
« Reply #1 on: March 26, 2015, 04:16:28 pm »

Nice graphics.

My concern with the game is how you ensure that the player fulfills the commitment made?
I can see there is some reputation risk, but in an anonymous environment that becomes small.
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wize_prime

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Re: "The Su Su Savings Game" Nation Building Fund
« Reply #2 on: March 26, 2015, 09:02:55 pm »

Thanks, we spent a lot of time trying to summarize everything for easy consumption.

The Su Su idea is a savings built on trust within a community. A difficult feat to transition to the anonymous tech world so it is the weakest point of the system. Without crunching any real numbers, I'm personally expecting at least a 8-14% payment fail rate per week. Missing or making a late payment automatically puts you in our "at risk probation" bracket.

The "At Risk Probation" members;

- Upon winning a jackpot; Have six months ($52) worth of winnings withheld to cover if they "disappear"
- Only have one remaining chance to make on time payments. They are banned from the game for one year if they fail to make payments on time again.

There is no real way to 100% guarantee that weekly commitments are made, but to ensure stability within our system we're working on implementing one of three more popular clients (that we could discuss in a more private manner) to facilitate notifications and recurring invoices.
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whatnxt

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Re: "The Su Su Savings Game" Nation Building Fund
« Reply #3 on: March 27, 2015, 12:28:31 am »

Thanks, we spent a lot of time trying to summarize everything for easy consumption.

The Su Su idea is a savings built on trust within a community. A difficult feat to transition to the anonymous tech world so it is the weakest point of the system. Without crunching any real numbers, I'm personally expecting at least a 8-14% payment fail rate per week. Missing or making a late payment automatically puts you in our "at risk probation" bracket.

The "At Risk Probation" members;

- Upon winning a jackpot; Have six months ($52) worth of winnings withheld to cover if they "disappear"
- Only have one remaining chance to make on time payments. They are banned from the game for one year if they fail to make payments on time again.

There is no real way to 100% guarantee that weekly commitments are made, but to ensure stability within our system we're working on implementing one of three more popular clients (that we could discuss in a more private manner) to facilitate notifications and recurring invoices.

It still looks like a potential ponzi scheme to me. If there were a limit to the number of players in a group then things would be a little different.

Say I join a group with 10000 players in
I win the jackpot $16000
I pay out $52 to cover the next 6 months.
I still get to walk away with most of the winnings and everybody else has to recruit more people to have a chance of regaining their investment.

Even if I do not walk away, to pay back what I took out will take 20000/2 = 10000 (which is the number of players)  weeks or 192 years which means I will die before I pay back.

Even with 100 players I would have to play for nearly 2 years after winning before the money I took out (plus community cut) is returned to the other players.

So how many players are there allowed per group?
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wize_prime

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Re: "The Su Su Savings Game" Nation Building Fund
« Reply #4 on: March 27, 2015, 04:16:05 am »

@whatnxt

I just noticed I left that part out (I'll update the graphic later).

The game block is limited to 100 players until we have run 5 complete series.

There are 4 blocks in a series.

1 series = 20 draws



Situation

Each group has a max limit of 50 people and only gains an additional 50 people in a month.

ie. January

Group A (segment 1) - max 50
Group B (segment 1) - max 50
Group C (segment 1) - max 50
Group D (segment 1) - max 50

Segment 1 has a max of 200 participants.

Group A (segment 2) - max 50
Group B (segment 2) - max 50
Group C (segment 2) - max 50
Group D (segment 2) - max 50

Segment 2 has a max of 200 participants.

For a max total of 400 participants.


Concerns

In reference to some of the risks I saw in your assessment I want to address them individually;

- So how many players are there allowed per group?

The Players are limited to 100 until 5 complete series.
- then 200 until 10 complete more series
- etc



Your Situation
 
Say I join a group with 10000 players and I win the jackpot $16,000.

I pay out $52 to cover the next 6 months.

Thank you for bringing this up. After discussing this with the management team we’ve put this issue to rest by instituting winning options;

Winning Options

Take the lump sum and pay Exit fee (15%) + tax ($52) - Leave the Game (Can’t return in ANY group for a year)
or

Take the 10% stock and 70% in cash. Pay the 6 month fee ($52) -  Continue Playing (Can’t win in the same group for six months)





I still get to walk away with most of the winnings and everybody else has to recruit more people to have a chance of regaining their investment.

The word investment here troubles me a bit. The purpose of "The Su Su Game" is to play low and win high. The true investment aspect is in owning MoorCoinIA which provides dividends and profits from the game.

P.S. I know you did not have ill intent but, in the future please be mindful of using that dreaded phrase "Ponzi Scheme". It's an offensive scarlet letter that never goes away. By definition our payouts are fueled by those who participate not held to give an artificially inflated return.



Even if I do not walk away, to pay back what I took out will take 20000/2 = 10000 (which is the number of players) weeks or 192 years which means I will die before I pay back.

This seems to be based on the idea that the game is an investment game. Although it's not a 'lottery', it is still a game of chance and players are allowed to exit the game once they're contractually allowed to. I believe, that when a person drops out of the game the spot will be replaced because of the opportunity to win with minimal upfront cash (replacing the word investment).



We will be removing the word investment from the game terminology to avoid future confusion.
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