Proof of Weak Hands explained [P3D]

[Ziyi]

The coin P3D is an ERC20 token on the Ethereum network that introduces three dimensional economy simulation. The contract is open source and has been audited and been through a hackaton twice without failure. It is a fully rewriten base of code by with help of the developers who found the exploit in the previous version.

WEBSITE | DISCORD | REDDIT

When someone buys the P3D token by interactng with the contract (sending ETH to it) the price of the token will increment with a small fixed amount(0.00000001 ETH) for each token that is purchased and whenever someone sells a token it will also decrement with the same small fixed amount. As always, you could try to buy low and sell high. Tokens are minted for each buy and burned for each sell, P3D is both a inflationary and deflationary coin. There is no premine for the devs and they had to get their own shares.

The important thing is that 10% of all buys and sells are returned back to all the holders of the P3D coin as dividend. This creates incentive to hold the coin throughout volatility.

Suppose you buy in, two scenario's can happen:

- The prices rise with more people buying in and you can sell your P3D for a profit meanwhile getting dividend for every transaction made after you.

- The prices drop with more people selling than buying so selling now would result you in a loss BUT you would be getting dividends from every sell.

The moment you buy in you're hypothetically around 19% loss since you paid 10% entrance fee and will have to pay another 10% exit fee. The longer you hold your coins however, the more dividends you earn and the lower this percentage starts to drop (excluded token price appreciation/depreciation).

Let me put that into perspective: With regular coins you would now be holding bags but with P3D all you have to do is hold your coins and wait for the dividends to stock pile until you have made your initial investment back or even more. The coin is out for just over a month and we are well over 3000 ETH in the contract. The developers are working on side projects that build of off the Powh smart contract to create an ecosystem in which holders of the P3D token benefit. I repeat, more incentives to buy the coin will get added in the near future.

There is also the added concept of referrals. Whenever someone buys with via your masternode(that you currently can obtain by holding 4 or P3D coins) you would get 3% of their investment as direct dividends. That 3% is deducted from his 10% that goes to the overall holders. General incentive to spread awareness and generate volatility.

Your profit in "normal" coins is dictated by supply and demand.
Your profit in P3D is dictated by supply and demand, referrals and volume. 3D chess.

The concept relies on you, the token holder, to have strong hands and hodl through all the buys and sells to accumulate dividends while the weak hands sell for whatever reason.

What if everyone sold? If everyone sold you would still be able to draw out your ETH. No one can sell their tokens for your ETH as prices drop, you still have your tokens and you'll get dividends (at a increasingly higher rate) when more and more people are selling. The last person selling before you would also leave 10% of his stake behind netting you that.

Access to buying and selling is currently made possible in three ways:
- The provided 3D exchange on their website
- Backup websites hosted on github (good luck bringing those down)
- MEW or any other Ethereum connected interface in which you can create transactions

This entire process of token pricing and returning dividends is done fully autonomous by the smart contract. No humans are allowed to interfere. Period.

In general Proof of Weak Hands is a funny, exciting and community driven concept that generates dividends in a 3D manner.

Enter P3D here: www.powh3d.nl

You can also DM me for any questions or head over to the discord here --> https://discord.gg/DbapvnH
or create a reddit post here --> https://www.reddit.com/r/PoWH3D/

EDIT: AS THIS POST WAS THE FIRST POST, I'D LIKE TO REFRAIN FROM EDITING THIS WITH NEW/EXTRA INFO. PLEASE READ THE COMMENTS FOR MORE/INDEPTHS QUESTIONS/ANSWERS THANK YOU.

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[shizzle_my_nizzle]

I think this concept is too advanced for retards to understand. That's why there's currently only a 1 million market cap for this one while scammy pyramids like Bitconnect and such have had hundreds of millions pumped into them.

[dinoloverpete]

This is an interesting concept, so the price isn't actually decided by the free market and can only increase in small increments? What about if someone were to spam many small buy transactions, would that increase the price multiple times and much more than just 1 large transaction?

[QFT]

I think this concept is too advanced for retards to understand. That's why there's currently only a 1 million market cap for this one while scammy pyramids like Bitconnect and such have had hundreds of millions pumped into them.

I'll explain it for everyone.
They want to make money with their shitcoin.

clear enough?

[HardFireMiner]

I think this concept is too advanced for retards to understand. That's why there's currently only a 1 million market cap for this one while scammy pyramids like Bitconnect and such have had hundreds of millions pumped into them.

I'll explain it for everyone.
They want to make money with their shitcoin.

clear enough?

Thank's, clear enough!

[shizzle_my_nizzle]

Exactly, they want to make money with the shittoken.
In a transparent pyramid way.
The other fool theory at its peak.
There's no exit scam possible here and people can earn with referrals. It's all transparent, run by the Ethereum network.
Plus the holders get 10% of volume in dividends, so when a whale enters they get 10% of his bag and when he exits they get 10% of his bag.

But so many people still somehow prefer to enter "lending platforms" (aka pyramids) with a 1% daily guaranteed income where noone knows where it comes from and noone knows when the owners will decide to exit scam and screw everyone over.

All I'm saying is that if you want to turn your brain off to gamble and throw your bags around, at least do it in a way where it's possible to get a high ROI without getting 100% scammed.

[kindbtc]

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.

[shizzle_my_nizzle]

I don't know what their long term plan is. They have a Discord, go ask them.

[Ziyi]

This is an interesting concept, so the price isn't actually decided by the free market and can only increase in small increments? What about if someone were to spam many small buy transactions, would that increase the price multiple times and much more than just 1 large transaction?

The Token price is decided by the free market and volume. Token prices get updated after each P3D token purchase so the case you mention here does not work.

Example: I want to spend 10ETH in this

I send 10 transactions of 1 ETH and pay in total 1 ETH in fee --> 10 * (1 * 0.1) = 10 * 0.1 = 1 ETH

or

I send 1 transaction of 10 ETH and pay in total 1 ETH in fee --> 10 ETH * 0.1 = 1 ETH

The transaction fee remains the same because it's a percentage. Since the token price is calculated after EVERY token purchase/sell both ways net in the same amount of tokens.


Added the info about this into the original post.

[Ziyi]

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.

The use case of this project is to create a passive income for all participants. Imagine a situation where in there is on average 500k ETH in the contract. 500k ETH brings in a lot of volume/volatility which generates passive income for the holders.

More use cases are planned and as of writting getting coded by the devs. I picked this up from the pinned message on discord:

Phase 2, Also known as our Atomic Swap Algorithm; this may or may not come with Oracle problem resolution as well.

Phase 3, Also known as Project Harpoon. This will simultaneously release along with the Atomic Swap algorithm and expand our masternode network exponentially with the goal of capturing whales with massive wallets into our Erc3D ecosystem.

These are both in progress and we are working hard to develop these systems, as usual no details will likely be released until they are very close to launch.

But i leave you this generalized idea of our current roadmap so that you can have confidence in the strength of your hands, and know that we're working avidly towards Un-justing (Fixing) all users who have ever been cheated in an ethereum Dapp game.

Powh3d is built for, run by, and designed to benefit this community after all. - Main dev

[funkyfeet]

PowH is great, it also has the cheapest Masternode in the whole Crypto game imo.

Just a short info on earnings

30ETH investment on Monday turned into 50 ETH today (March 22.2018)

PowH also reached 1Million$ in the contract yesterday (1700 ETH)

[EthereumGhost]

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.

[Ziyi]

Its currently not a zero-sum game. There is more ETH in the contract than people have bought in with.

[dooglus]

Its currently not a zero-sum game. There is more ETH in the contract than people have bought in with.

That doesn't stop it being zero-sum.

[dinoloverpete]

This is an interesting concept, so the price isn't actually decided by the free market and can only increase in small increments? What about if someone were to spam many small buy transactions, would that increase the price multiple times and much more than just 1 large transaction?

The Token price is decided by the free market and volume. Token prices get updated after each P3D token purchase so the case you mention here does not work.

Example: I want to spend 10ETH in this

I send 10 transactions of 1 ETH and pay in total 1 ETH in fee --> 10 * (1 * 0.1) = 10 * 0.1 = 1 ETH

or

I send 1 transaction of 10 ETH and pay in total 1 ETH in fee --> 10 ETH * 0.1 = 1 ETH

The transaction fee remains the same because it's a percentage. Since the token price is calculated after EVERY token purchase/sell both ways net in the same amount of tokens.


Added the info about this into the original post.

Right, so the incremental increase is based on a fixed token amount, so each time 1 token is bought it increases incrementally, so 10 tokens would increase 10 increments. Got it, thanks. For what reason would someone buy the coin other than the expectation that others will buy and the price will increase?

[funkyfeet]

if someone sells the price decreases the same amount

right now getting paid is the only reason why people buy into p3d- and thats a pretty good reason imo

I heard that developers plan other usecases for the coin...

[Ziyi]

Right, so the incremental increase is based on a fixed token amount, so each time 1 token is bought it increases incrementally, so 10 tokens would increase 10 increments. Got it, thanks. For what reason would someone buy the coin other than the expectation that others will buy and the price will increase?

That would be 1 reason and the current dividends would be the other reason. More incentives will be added in the near future to purchase P3D tokens as updates and side projects will be released. This will have the P3D contract at its center and grow it more into an ecosystem.

I do remind you:
- Circulating supply is currently ~700k which is waaaayyy less than the average ERC20 coin of around 100 million
- Current value of the contract is around 1,4 million dollars which compared to the 50/100/200 million dollars other coins is very small

Not saying that we should be 100% compared to ERC20 tokens since this is imo something new, but it definitely gives a good perspective

Contract just passed 3k ETH today on 27 - 03
Contract passed 2k ETH on 23 - 03
Contract passed 1k ETH around 16 - 03.

[zidane]

Where can i buy this Token?

[Emilyearl]

This is a nice concept. First it encourages one to hodl for a longer period of time. And as it encourages more tokens per have relative to increment accrued to it. With time and exposure, it will explode.

[Ziyi]

Where can i buy this Token?

1. Download Metamask, create a new account with an ETH address.
2. Send ETH to that address
3. Go to www.powh3d.nl and click on "Decentralized Exchange"
4. Enter the amount you'de like to buy and a click on buy.
5. A Metamask pop-up will appear asking you to set the gas price, between 2 - 4 will do the trick in a minute, and confirm the transaction
6. Enjoy your dividends