POWH Coin Self Sustaining Pyramid Scheme?

[Kastraore]

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?

[preshpr1nce]

Sounds horrible, no serious investor would go near this.
My 2c.

[Kastraore]

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.

[preshpr1nce]

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.

[kalnas]

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.

[Kastraore]

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.

[robthetotten]

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/

[Bitcoin Baba]

Doesn't IT says PONZI on the name 

[robthetotten]

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.

[Bowtiesarecool]

WP points to SEC paper on Ponzi schemes.
Someone's banking on greed