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Crypto TFR multi-level marketing scheme

A Bitcoin millionaire has two kids. He doesn't want to spoil them, and he doesn't want his name to die out, so he implements a smart contract: Starting even before he dies, 1% of his net worth will be given to his kids annually, split between them proportionally to how many children they have.

As soon as a grandchild is born, their gen2 parent gets 100% of the annual 1% disbursement. Inheritance starts before the death of gen1.

Why would someone do this?

They may have a crazy set of beliefs. The key isn't so much why, as evaluating whether this is a stable or growing strategy. Why do deer eat and have fawns? It doesn't really matter; most of their emotions about it are after-effects; the key point is that it survives. Strategies don't have rationalizations when they're invented; the first multicellular life didn't start with a thesis "it's good to cooperate". The only reason we observe it is because it evolved into us.

Requirements:

Since it's unlikely to ever exhaust the money, it would either go on forever motivation to

Failure states - oh, so many, but they make for good plots

Why is this even a thing?

I think the difficulties here are because identity isn't real. It's extremely hard to define and track in a rigorous way. Things like hashrate or existence at all are quite a bit easier to verify.

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