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Title: POWH Coin Self Sustaining Pyramid Scheme? Post by: Kastraore on January 31, 2018, 10:33:03 AM There is some sort of ponzi scheme coin (which they admit that they are ponzi) called POWH Coin.
What do you think of it: https://powhcoin.com Im currently invested in it but not sure, have you seen this and if so whats your take on it? Title: Re: POWH Coin Post by: preshpr1nce on January 31, 2018, 10:35:55 AM Sounds horrible, no serious investor would go near this.
My 2c. Title: Re: POWH Coin Post by: Kastraore on January 31, 2018, 10:40:12 AM So far within one day they made me 0.25 ETH in dividents. They say its a self sustaining pyramid.
Even if all abandon the coin, and you are alone invested in this coin, the dividents will be enormous when others come. 10% of a new comer investment will be distributed to others already invested. And the token price will be increased by 0.25%, thats why its self sustaining from my understanding. Check their website and let me know what you think. Title: Re: POWH Coin Self Sustaining Pyramid Scheme? Post by: preshpr1nce on January 31, 2018, 10:56:02 AM Not trying to bag out your choices but this was enough reading for me:
Step 1: Invest Throw your ETH at our robot Step 2: Shill Step 3: HODL Step 4: Profit This goes against everything I see in crypto, if a coin is over shilled I avoid. I also won't invest in a project that offers nothing, no matter how good the returns may be. Title: Re: POWH Coin Self Sustaining Pyramid Scheme? Post by: kalnas on January 31, 2018, 12:34:46 PM I hope they f^&*(& ERC20 contract implementation so this cannot be traded on an exchange and only bought/sold using the contract. Otherwise, it will die the moment it reaches exchange.
Title: Re: POWH Coin Self Sustaining Pyramid Scheme? Post by: Kastraore on January 31, 2018, 03:04:41 PM Lets see, for now the dividents are fucking unbeliveble, 0.25 ETH within a day!
Guys it might be a ponzi scheme, but its made so that no one can just take the money and run away. The moment people leave, you get even more dividents when people join again. Its self sustaining! As far as im concerned its worth a try. As soon as its more mainstream, and people get into this, the dividents will be so big and the price of the coin will rise greatly. So now its a time to get in. Title: Re: POWH Coin Self Sustaining Pyramid Scheme? Post by: robthetotten on February 01, 2018, 01:18:20 AM It doesn't look like it's doing much today, it is surprisingly stable in a volatile market. Does that mean that no one is receiving significant dividends? I'm looking at the price chart here:
https://powhcoin.azurewebsites.net/ Title: Re: POWH Coin Self Sustaining Pyramid Scheme? Post by: Bitcoin Baba on February 02, 2018, 12:32:47 AM Doesn't IT says PONZI on the name ;) ;)
Title: Re: POWH Coin Self Sustaining Pyramid Scheme? Post by: robthetotten on February 15, 2018, 05:31:14 AM Remember kids - if it tells you ahead of time you're going to lose your money, you're going to lose your money. Hacked & ETH stolen.
Title: Re: POWH Coin Self Sustaining Pyramid Scheme? Post by: Bowtiesarecool on February 16, 2018, 07:29:49 AM WP points to SEC paper on Ponzi schemes.
Someone's banking on greed |