What do you think of POWH3D? Brilliant way to multiply money or Ponzi?

[VirginMary]

Lately a nice project has appeared on the site:

https://powh.io

the project is introduced with these words:

Every trade, buy or sell, has a 10% flat transaction fee applied. Instead of this going to the exchange,
the fee is split between all currently held tokens!
10% of all volume this cryptocurrency ever experiences, is set aside for you the token holders, as ethereum rewards that you can instantly withdraw whenever you'd like.
.

COMPLETELY DECENTRALIZED, HUMANS CAN'T SHUT IT DOWN.

the project claims to produce coins by the way of a system that they call Proof Of Weak Hands. Early sellers lose money which goes to the holders. The concept is brilliant, but technically is a sort of trusless Ponzi scheme, at least in my humble opinion. Since the system is trustless, nobody can scam anyone, but the system itself is designed to punish some so as to reward others.

They had also made an ANN about this project which then they locked as someone started to put questions that they didn't like:

https://bitcointalk.org/index.php?topic=3182802.0

Which are your thoughts about? I personally like it, even though i am aware of certain intrinsec limits of the mechanism, so that in the whole I would consider putting money there a gamble rather than an investment.

[1714043490]

1714043490

[xMarty]

Thanks, VirginMary, for opening this thread. I hope you don't mind, that I use your thread to catch up with info about PoWH3D and raise new awareness about this revolution in the crypto space. So let's get started...

PoWH3D summary:
PoWH3D is a decentralized economic simulation of an algorithmically governed cryptocurrency in which the taxes on all transactions are awarded autonomously to currency owners instead of a governing body; resulting in a universal passive income based on adoption and transaction volume.

PoWH3D is a unique cryptocurrency exchange which allows you to trade Ethereum for P3D tokens. P3D tokens are ERC-20 tokens with a clever twist: Every P3D holder receives direct earnings in Ethereum every time that anyone else buys, sells or trades the token based on the amounts of tokens (in % out of total amount minted) held.

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PoWH3D ETH stats as of May 6th:
Total ETH ever invested: 42,122.5915 ETH
Total ETH ever reinvested: 4,603.5715 ETH
Total ETH ever withdrawn: 31,287.0744 ETH
Total ETH ever paid out in rewards: 7,456.8799 ETH
Total ETH ever paid out to masternodes: 828.9676 ETH

PoWH3D Token stats as of May 6th:
Total P3D tokens ever purchased: 3,423,427.5992 P3D
Total P3D tokens ever purchased through reinvestment: 325,859.0529 P3D
Total P3D tokens ever sold: 2,332,279.9522 P3D
Total P3D tokens ever transferred: 46,017.6907 P3D

Fantastic landmark reached on May 8th:
200,000 total transactions to the P3D contract and over 9000 wallets own P3D (etherscouter says). Of that, nearly 50% of them have an iron clad grip and have never sold once.

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PoWH3D info:
PoWH3D website: https://www.powh3d.global
PoWH3D white paper: https://www.powh3d.global/white-paper
PoWH3D FAQ: https://www.powh3d.global/faq
PoWH3D Getting started: https://www.powh3d.global/getting-started

PoWH3D dividends and contract simulation: https://youtu.be/KAHjpB0sx2g
PoWH3D code review: https://youtu.be/gDpOTL_KKys
PoWH3D is NO ponzi/pyramid sceme: https://youtu.be/Tn9FMlGVfP0

Stay up-to-date on PoWH3D:
Discord: https://discord.gg/Y6CHepn
Newsletter: Go to https://www.powh3d.global and scroll to the bottom
Email: info@powh3d.global

If you have any questions, please don't hesitate and ask anything. Write me a PM, drop me a line via email, or use our Discord channel and use the #helpdesk there.

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What's coming next:
The PoWH3D development team has a long-term vision that spans much farther than any one project. There are at least 4 upcoming projects planned and each is distinct and complementary to one another. These projects form a brand new ecosystem. The best part is that each of the projects in the ecosystem will reward strong holders and users of the others. There is no need to sell P3D tokens ahead of the launch of future releases. Instead, having strong hands will only benefit you as the ecosystem develops. The developers don‘t ask for nor want your faith or belief, only that you have fun, think critically and keep an open mind.

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FOMO3D, the next smart contract will go live in May 2018. P3D holders will gain serious benefit from owning tokens.

I'm not a financial advisor, but I recommend looking closely at PoWH3D. If you are comfortable with the project, then buy into P3D, hold your tokens long term, enjoy the dividends and thank me later.

[VirginMary]

Happy to have been useful in opening this thread and I think it would deserve more attention since this project is well made and quite unusual. Lately I've noticed that after a huge peak there has been a disinvestment wave, but after all Proof of Strong hands works if there are also weak hands.

[VirginMary]

The disinvestment has slowed down but it didn't reverse into rising again. Any opinions on POWH3D future?

[VirginMary]

Quite an interesting update: after weeks of first disinvestment and then consolidation, investment in POWH3D has started to rise again. Watch the developements closely.

[pyosar]

If you say that they started blocking and deleting your messages as soon as you started to learn more about the details of the project, then this is 100% fraud. Do not invest in companies that do not want to tell their investors everything.

[Tyr808]

If you say that they started blocking and deleting your messages as soon as you started to learn more about the details of the project, then this is 100% fraud. Do not invest in companies that do not want to tell their investors everything.

Who said that in this thread? Please elaborate.

[VirginMary]

If you say that they started blocking and deleting your messages as soon as you started to learn more about the details of the project, then this is 100% fraud. Do not invest in companies that do not want to tell their investors everything.

Who said that in this thread? Please elaborate.

They didn't delete messages, they have just locked the thread. I don't know why, perhaps they were afraid of the possibility of a tsunami of FUD - this kind of stuff also happens on the forum occasionally. I think nevertheless it was a mistake to close it.
Anyway, in recent days the total investment in POWH3D has started to rise again. I wonder how it will go on.

[dakiller]

Investment consideration is the decision of every person.
For me, I feel that investing in a Ponzi scheme does not create trust.

[VirginMary]

Investment consideration is the decision of every person.
For me, I feel that investing in a Ponzi scheme does not create trust.

What's interesting in this Ponzi is that it is a totally automatic Ponzi where nobody can cheat since the rules are written in smart contract - the implications are quite mysterious.

[VirginMary]

After a truly huge rise of the ETH allocated in the POW3D smart contracts, now the balance is consolidating, and it's slowly finding a new floor to restart from. I wonder how that will play in future.

[VirginMary]

Nobody interested in commenting the POWH3D project? After all it currently has over 46,000 ETH locked inside its contract. I still have to understand if this project is super-cool or super-dangerous. Or both.

[RoccoSiffredi]

I have got a problem with POWH3D - I must have sent an empty transaction from Metamask to the POWH3D contract and as a result all my stakes have disappeared and balance went back to zero. What happened is a mystery.

[RoccoSiffredi]

I have got a problem with POWH3D - I must have sent an empty transaction from Metamask to the POWH3D contract and as a result all my stakes have disappeared and balance went back to zero. What happened is a mystery.

Nobody from the team is checking this thread? I'd like to understand what has happened and perhaps even how to get my stakes back, if possible. They had a certain value...

[Shitcoins Whale]

It is a pity that this thread is not used by the POWH3D community to discuss, since POWH3D is a big reality nowadays in this crypto space, and it is also a bit controversial, since it is a sort of "honest" Ponzi scheme where everything is in plain code and nobody can cheat and run away with the money. Very fascinating indeed.

[sebastianweyer655@gmail.c]

Same as any ponzi scheme. Great way to double your money or lose all your money, just the same as gambling.

[VirginMary]

Same as any ponzi scheme. Great way to double your money or lose all your money, just the same as gambling.

I agree it is gambling. But what I am impressed about is the fact that this whole POWH3D game is powered just by smart contracts - so nothing hidden, nobody who could possibly play dirty out of the rules.

[RoccoSiffredi]

I have got a problem with POWH3D - I must have sent an empty transaction from Metamask to the POWH3D contract and as a result all my stakes have disappeared and balance went back to zero. What happened is a mystery.

Nobody from the team is checking this thread? I'd like to understand what has happened and perhaps even how to get my stakes back, if possible. They had a certain value...

I am still hoping to find out what has happened and how my stakes have disappeared. I guess I won't find any answer to that here on Bitcointalk...

[Adolf Cryptler]

I have been lucky to get one of the pumps up so I've made 4X out of my invested ETHs, but I guess if you invested after the pump you'd only lose monay by now. In other words, POWH3D is just a gamble.