> Sure maybe after the 10th hop it'll catch up to you but by that point (in this scenario) you've had the equivilant of 10 14.8% raises which IIUC is a total ~404.6% raise.

10 raises at 14.8% each hop is 1.148^10 or 3.976 not 4.046

But still, you end up at about 4x