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The contact idea is a great idea but they should have made it public and set a buy in limit at the beginning rather than buying the majority of tokens for themselves, the creators are laughing all the way to the bank.
I find this being the main problem with this game. Most of the cheapest tokens have been bought in closed circles (just as a premine) long before the publishing of this ANN. There would be nothing bad in that, would it have done in a more transparent way, and, possibly, also in a more fair way. The fact that these early investors (the devs?) are now slowly selling would prove that they don't really believe in the long term success of the project but they are eager to cash out something as soon as possible. In other words: the game is quite brilliantly thought, but not properly managed. Hey mate - there were no closed circles. I came in through a YouTuber promoting it. They had the community busy shilling their coin so they could get much needed work done on their smart contract. If you put in a mere Eth now, at the price it is per coin now (0.0077 Eth) - think of what it can be worth in say 3 months time? I don't make much divs, it's the price I'm interested in. No close circles, huh? I understand it has been running for quite some time now, one month or so, but this ANN thread was created only 3 days ago. Why would you hide the project from the community for so long? Why would you suddenly make the ANN now, if you forgot to do it for one month? Why would early inverstors already sell on the newcomers? I guess you probably must be an alt of the devs. A pity you could not apply a good idea in a fair way. I can't speak as to why it didn't occur to the devs to create the ANN until a few days ago. But it's good to keep in mind that this project originated in 4chan as a joke and it's still steeped in jokes and memes. The devs likely have little to no experience doing anything like this - it's new territory for them and they're learning as they go. They definitely haven't been hiding the project, it's made it to the front page of r/cc at least twice that I know of, and they've been completely transparent about every step of the project (including the early buy ins) in their Discord. The two main devs haven't sold their tokens, and one of them claims they don't intend to ever sell, they're in it for the long-term dividends. If some of the ambassadors have sold, I don't see how that's a bad thing, it just means a larger percentage of the tokens are held by the general community instead of the early investors. The biggest token holders bought into their positions just in the past week. I understand your concerns, but I don't think there's been any serious mismanagement of how the game has been deployed. Has it been a little haphazard? Undeniably, and the lateness of the ANN points to that fact. But that doesn't take away from the cleverness of the game, which is running successfully, and because it's decentralized will continue to run so long as people are interested in playing. |
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so many newbie accounts, shilling the platform. Coincidence?
what was the price for the 1st people who bought in to the platform? Because the bitcointalk thread exist only since today.
No it is not a coincidence, we have mentioned the fact that this Bitcointalk Thread now exists and some have decided to create accounts and post in it, that is fine with us. We have also asked that they do not share their Masternode referral links here but what the general public does is out of our control. The price was quite low to start and has grown to where it is today and continues to grow. If you want to dig deeper or find out who the main holders it is all available for public viewing here. https://etherscan.io/token/0xb3775fb83f7d12a36e0475abdd1fca35c091efbe#balances
With the largest token holder at 2.39%. We had one purchase yesterday of 99 ETH so that put that person in the top 3 or 4. Yes, and somewhere in the thread it was mentioned that the contract has already existed for one month, and people had already been investing, so how comes this thread is new? How would people know about this project before the ann was published?
Many found out via word of mouth or from Youtube, so it was not kept a secret, it was only later decided to have a Bitcointalk Account as that is what most projects have. This video was made 1 Month ago at project launch so it is not as though it was kept "hush hush" as your post suggests, it was just that with so much going on creating an official account here was not a priority. In Hindsight, yes we probably should have created an ANN at the time but we cannot change the past so it is what it is. https://www.youtube.com/watch?v=JxTb6yGiq6QWhen we created the ANN there was 1,850 in ETH invested, now we are sitting at 2,145 ETH. And please keep in mind even if you invest now if one of the whales or top 20 token holders has a weak hand and withdraws, you will profit from that, the same as you will profit from any new investors, so it really is never too late, the contract will run for as long as Ethereum is running which we believe we be past our life-spans. And the beauty of it, if 3 or 4 of the largest holders were to actually dump, the price will drop, everyone still holding will get a percentage of that "sell" and it will create new entry points at lower prices therefore making it even more viable, and no matter who dumps (if they actually did) the contract will still continue to run, it is immutable in perpetuity. so many newbie accounts, shilling the platform. Coincidence?
what was the price for the 1st people who bought in to the platform? Because the bitcointalk thread exist only since today.
No it is not a coincidence, we have mentioned the fact that this Bitcointalk Thread now exists and some have decided to create accounts and post in it, that is fine with us. We have also asked that they do not share their Masternode referral links here but what the general public does is out of our control. The price was quite low to start and has grown to where it is today and continues to grow. If you want to dig deeper or find out who the main holders it is all available for public viewing here. https://etherscan.io/token/0xb3775fb83f7d12a36e0475abdd1fca35c091efbe#balances
With the largest token holder at 2.39%. We had one purchase yesterday of 99 ETH so that put that person in the top 3 or 4. Yes, and somewhere in the thread it was mentioned that the contract has already existed for one month, and people had already been investing, so how comes this thread is new? How would people know about this project before the ann was published?
Many found out via word of mouth or from Youtube, so it was not kept a secret, it was only later decided to have a Bitcointalk Account as that is what most projects have. This video was made 1 Month ago at project launch so it is not as though it was kept "hush hush" as your post suggests, it was just that with so much going on creating an official account here was not a priority. In Hindsight, yes we probably should have created an ANN at the time but we cannot change the past so it is what it is. https://www.youtube.com/watch?v=JxTb6yGiq6QWhen we created the ANN there was 1,850 in ETH invested, now we are sitting at 2,145 ETH. And please keep in mind even if you invest now if one of the whales or top 20 token holders has a weak hand and withdraws, you will profit from that, the same as you will profit from any new investors, so it really is never too late, the contract will run for as long as Ethereum is running which we believe we be past our life-spans. And the beauty of it, if 3 or 4 of the largest holders were to actually dump, the price will drop, everyone still holding will get a percentage of that "sell" and it will create new entry points at lower prices therefore making it even more viable, and no matter who dumps (if they actually did) the contract will still continue to run, it is immutable in perpetuity. I have been following this and I can see from the link you provided earlier that the top 100 holders make up 65% of the total amount of tokens. And you say that 2 ETH for Developers and 20 ETH for advisors, how do we know these advisors actually exist and are not the developers themselves? If that were the case it means that the Developers own 65% of all tokens and are the main ones making any money compared to the other holders. I looked at investing 1 Ether but to me it is too much risk for little reward when there is 65% of all tokens potentially in the hands of a small group of people and I noticed that on your rich list nearly all of those in the top 20 are selling tokens each day little by little (I have taken screen shots the last 3 days to compare them) so to me although I like the idea of the contract like you said and it cannot be changed the problem is that there is 65% of all owners possibly being 5 to 12 or so people. So for that reason I will pass. Good luck with it but I cannot see it ending well because the top 20 is already starting to to syphon off money each 24 hours. Just fyi... when you posted this there was approx. 2100 Eth in the contract, with a buy price of 0.007046/P3D and a sell price of 0.005765/P3D. Right now, less than 48 hrs later, there is 2537 Eth in the contract, with a buy price of 0.007737/P3D and a sell price of 0.006331/P3D. So if you'd thrown 1 Eth in then, you'd be around 1/2 way to break even now (if you include the divs you would have received). Obviously if you think the volume is going to stall or decrease, it's risky because the sell price will go down. Bear in mind though that if there is a big sell off, you'll be receiving divs from that as well, and the more people who sell, your percentage of the coins will increase and the more divs you'll receive. Volatility isn't necessarily a bad thing in this game, it can be profitable. Thus why you'll often see folks in the Discord actively encouraging people to SELL SELL SELL. However, if you think this game has some legs, if you think the balance is going to increase to 3k, 4k, 5k+, then it's a pretty safe bet that you'll earn a nice return on your 1 Eth. But of course there are no guarantees. It's a game. It's a gamble. Play it for the fun of it, and if this doesn't seem fun to you, then you're right to pass. |
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So what exactly is the use case of this project? No real use case other than a ponzi sort of scheme, do not take it personal but that is all i make up of this project.
PoWH3D is a zero sum gambling game, the only use case of the P3D token is to play the game. The game is an investment simulation that seems to draw it's inspiration equally from pyramid schemes and cryptocurrency shitcoins. It's the greater fool game with no guarantees. The fact that it's entirely decentralized and open source, that there are no devs trying to scam anyone, that it's all run by the smart contract, is fairly brilliant. The game is running itself. The devs couldn't shut it down if they wanted, it can just keep being played indefinitely. Not such a bad thing for people who enjoy gambling. |
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