Design the coolest smart contract ever

Closed Posted 4 years ago Paid on delivery
Closed Paid on delivery

Fomo3D was a dangerous game theory that was then applied, obfuscated, and raked in a sh#tton of cold, hard cash.

Users would sign up for (link removed)/ and play the game. Their greed would ensure they always spent more than they lost in an auction that Harvard Business School teaches their pupils – it’s called a ‘War of Attrition.’

When offered the chance to bid on a $20 bill with $1, people will bid on it. The problem is this: the 2nd highest bid also has to pay whenever the winner is chosen. So, when the bid is $19 and the prize is $20, someone will surely bid to make a dollar. Now, when you’re the $18 bid you might lose your $18 if you don’t bid again – paying $20 for $20. If you win, you’re down $0. If you don’t bid, and lose now, you’re down $18.

What’s the person with the $19 bid do?

There’s been documented cases where the bidding reached a walloping $4000 – in a display of sheer ego. The loser was caught up in the ecstasy of playing the game.

That’s exactly what Fomo3D did, except the winnings were divvied up in a very smart way that wasn’t previously available to the general public: using an underlying dividend-paying or burning token (forget which) they cleverly increased the token value or delivered payments for token holders when people played the game.

This caused a huge social effort by token holders – and game players – to spread FOMO about the game around the internet. This would bring in new players and – occasionally – those who would even win or lose by ego, or win or lose because of the sheer thrill of the game.

Learning all of this tonight for the first time, I did a brief Google on ‘dangerous game theory’ and was actually learning about game theory for the first time in my life. Now, this shit is fun. And profitable.

I read about War of Attrition. What a beautiful concept.

The wikipedia article linked to a few other sources: Chicken, another dangerous game theory, has a fancy theory name – but it’s still chicken. When one veers off they lose, when both collide they both lose. We’ll examine opportunities here at a later date, but I also came across another interesting concept.

The successful bidder will be designing a foolproof Ether contract to employ a different game theory at a large scale.

Blockchain Ethereum Bitcoin

Project ID: #23876925

About the project

5 proposals Remote project Active 3 years ago

5 freelancers are bidding on average €1314 for this job

AITSoft

Hello, I hope you are doing great. I have good experience with doing similar jobs. You can check my portfolio here:https://www.freelancer.com/u/AITSoft I can do this job because have great experience with Bitcoin, Bloc More

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stuartschade

Hi, I have been working in the Blockchain industry for the past 10+ years and have trained 100+ blockchain professionals. Currently, I lead a team of 40 professionals to build the best blockchain solutions. With thousa More

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tyberus

Intrigued by your post. We have the expertise to build the ETH contracts to your specifications. Looking forward to receiving info on how you want this to be done. Regards.

€1125 EUR in 7 days
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