Blogpost #0

Welcome to the official EthPyramid blog. Here you’ll find news about recent or upcoming events as well as on-going developments.

Launch Recap

As many in our growing community know, the cryptocurrency pyramid concept is both an awful idea, and also in its infancy. Following the recent failures of other groups and individuals who were focused far too much on short-term gain than long-term growth and transparency, an initially small (but now wonderfully large) community banded together to repair existing flaws in the system. A system whereby each and everybody who got involved at any stage in time would benefit if they only were to have strong, smart hands. Those who worked on refactoring the contract spent approximately a week staring at the same lines of code to the point of near blindness, finally producing something that will historically be known as one of the worst ideas since the neutron bomb.

This didn’t deter the hordes of madmen at the gates, with the contract hitting 561 Ether within the first 10 minutes, and dropping to 365 Ether shortly after – only to begin rising again. This is most likely due to a combination of common sense, a well-founded fear of contract failure and exit scams, not to mention the general feeling of discomfort in the crypto-currency space itself. What followed afterwards however has only strengthened the general faith in the stability (although not the rationality) of the concept. The contract has seen steady growth in volume since; with several dips, peaks and valleys as well as – most importantly – a continual rise in new contributors.

Flattening The Structure

As many know, the first contributor dropped 5 Ether in as the first buyer, with other contributors following shortly with half an Ether each. Within twenty-four hours, the first contributor sold his stake, burning his tokens and making over a hundred Ether in the process. He has since disappeared, and those of us who worked with him, whilst concerned about his well-being, can hardly blame him for pulling a Satoshi. The sale was executed in the following transaction.

One benefit of the above was a distribution of roughly twelve Ether in dividends to existing participants. As we knew would happen, this triggered a sell-off period, which has been slowly turning upwards since.

Community Resources

We’ve somehow managed to coalesce into a tight-knit (albeit utterly insane) community. Come and dive into the madness on Discord: https://discord.gg/hrmmv4Y

We also have a regularly posting Twitter, under the @EthPyramid handle.

Our subreddit can be found at https://www.reddit.com/r/EthPyramid. A number of analyses, breakdowns and announcements are made there, including a discussion of the underlying mathematics, and the results of automated exploit testing.

Our GitHub is now open to all, and we welcome contributions. The repository can be found here – please fork before submitting pull requests, though!

What Next For EthPyramid?

We’ve been working on rewriting the back-end using Semantic UI and PHP rather than the original cluster of HTML files we were using. We’ve also been working on several translations to bring this insanity worldwide: we currently have Australian (go and have a look), French, Spanish, German, Chinese and Korean supported. Russian and Arabic translations are under way. You will notice that ethpyramid.com force-redirects to ethpyramid.io now: don’t panic – this is part of our move to a domain which we fully control.

We are also working on a more informative statistics page, detailing top token holder addresses, daily volume, and a host of other features. Why we’re putting so much effort into this atrocious joke is beyond any of us.

Stay safe, play safe, spend safe. Please.

-The EthPyramid Team