Proof of weak hands coin | Bitcointalksearch.org

weenfan

sr. member

Activity: 373

Merit: 506

Quote from: Beicin on January 30, 2018, 01:34:53 AM

Some /biz/ developers created a more legitimate approach to the previous two Ponzicoins that happened in the last two days:

https://powhcoin.com / https://powhcoin3.com (right now powh3 has just dumped and is super cheap to get in, powh1 is pumping hard)

This token actually CANNOT crash, as the price drops when people sell - so the smart contract can't deplete.

Everytime someone buys, current token holders get paid 10% dividends paid in ETH to your adress, so you eventually will have your investment back without even having to sell your tokens.

Thing is taking off since 30 minutes on 4chan, FOMO.

Edit: Here is the contract adress if you want to verify that the contract is trustworthy:

powh1: https://etherscan.io/address/0xa7ca36f7273d4d38fc2aec5a454c497f86728a7a
powh3: https://etherscan.io/address/0xc825aa83f12e4d225ea1f21511a68e7aa78a002f

Cloudflare flagged the site as a phishing site .. there's a powh3d at https://powh.io/

Mr.Smithers

member

Activity: 105

Merit: 10

Quote from: anasso on January 31, 2018, 03:52:34 PM

this coin remind me the Dogecoin because it was a joke in the beginins.

maybe this coin will succeed as many funcoins in the past.

joke or no joke, some things are not legal and that is that. One has freedom to joke as long as one doesn't hurt others. I am not sure what is the legal situation here.

The Dogecoin was a different story, it was introduced for dog-lovers as a toy-coin, and only later it became serious. There were no false or misleading statements involved if I recall. Here the situation is a little bit different because the statements behind the coin may be misleading (they are Ponzi-like)

OK, I expressed my views in the matter, I can see that you guys are having fun now and maybe I am a bit too serious

anasso

full member

Activity: 224

Merit: 100

this coin remind me the Dogecoin because it was a joke in the beginins.

maybe this coin will succeed as many funcoins in the past.

Ruggito

sr. member

Activity: 283

Merit: 251

Pure genius!!! I'll put my life saving in it!!! Grin

Savik

full member

Activity: 364

Merit: 101

Quote from: Beicin on January 30, 2018, 08:27:07 PM

Powh3 came back from a crash down to 2 ether, now sitting at 18 (previous ATH is 140~). These cycles are very interesting. Again, i'm not promoting the sites, i just wanna discuss them as they are a part of our crypto landscape right now.

I think the PoWH type of thing will be a new theme in crypto. Sadly though, the rest of them won't be as obvious meme coins and will masquerade as fancy projects with high flying tech and devs, but in reality offer little more than Ponzi-style token mechanics. BitConnect on steroids.

Beicin

full member

Activity: 182

Merit: 100

Powh3 came back from a crash down to 2 ether, now sitting at 18 (previous ATH is 140~). These cycles are very interesting. Again, i'm not promoting the sites, i just wanna discuss them as they are a part of our crypto landscape right now.

Savik

full member

Activity: 364

Merit: 101

The dawn of Tokenomics. God help us.

bug.lady

member

Activity: 196

Merit: 23

Large scale, green crypto mining ICO

Quote from: trash321 on January 30, 2018, 04:47:25 AM

Let's hope so, despite all the comments, so I laughed as much as you did, but I did not see the people behind this idea, let's hope that the idea will remain an idea. Otherwise there will be another portion of the scam.

Well it doesn't seem to be just an idea. Read this comment by this user, especially that part: Im going to throw a small amount (like 0.3 ether) at powh3.com

Quote from: Pewtorn on January 30, 2018, 04:36:26 AM

I read up about it. Everytime you buy, 10% of what you pay gets distributed among all coin holders (the more coins you have, the more you gain obviously). So you'll get a fraction of everyone that buys after you.

Whats interesting is that when the price dumps there are less coins in circulation and the people who "held strong" get more dividends when people start buying back in (which they are incentivized to do because it became very cheap and the potential earnings are higher).

Im going to throw a small amount (like 0.3 ether) at powh3.com since its cheaper and i'll update later with some feedback.

So it involves real money. This is were "idea" part stops and a scam part (or maybe rather Ponzi part) really begins

Mr.Smithers

member

Activity: 105

Merit: 10

Quote from: Pewtorn on January 30, 2018, 04:36:26 AM

Quote from: 01BTC on January 30, 2018, 04:26:37 AM

I don't think I quite understand how this works.

Let's say I buy 0.012 Coins NOW and after me another one buys (not my refferal though) will that get me 10% of his investment ?

I read up about it. Everytime you buy, 10% of what you pay gets distributed among all coin holders (the more coins you have, the more you gain obviously). So you'll get a fraction of everyone that buys after you.

(...)

Hey guys what you are promoting is a Ponzi scheme, it falls exactly under the definition of Ponzi. It is actually illegal in most countries and even if it were legal the only people who benefit are the creators, so by the time it is promoted out in the open (like in this thread) the newcomers are losers.

trash321

full member

Activity: 602

Merit: 100

Let's hope so, despite all the comments, so I laughed as much as you did, but I did not see the people behind this idea, let's hope that the idea will remain an idea. Otherwise there will be another portion of the scam.

Maglaver

newbie

Activity: 32

Merit: 0

I don't know if this will be a good or not, but it is definitely interesting coin.
I like the maintaining and rising the value when dumping starts.

Beicin

full member

Activity: 182

Merit: 100

Quote from: teilwalL05 on January 30, 2018, 04:34:22 AM

Most of the time Pyramid Scheme is not really worth investing in, And in a blockchain technology it will just turn out to be a ponzi scheme because a pyramid scheme always refer to pyramid scam and a business model that recruits member and promising them that they can get an income when they reach a certain level which is true, but as the number of participants multiplies and had congested the system it is nearly impossible for newly member to recruit some more and that is why some member is unable to profit because of it, And this kind of Scheme is unsustainable and illegal

This is just an experiment where people can have some fun on the blockchain. There are no referrals and "levels", everyone is the same and playing on a even field.

Pewtorn

newbie

Activity: 7

Merit: 0

Quote from: 01BTC on January 30, 2018, 04:26:37 AM

I don't think I quite understand how this works.

Let's say I buy 0.012 Coins NOW and after me another one buys (not my refferal though) will that get me 10% of his investment ?

I read up about it. Everytime you buy, 10% of what you pay gets distributed among all coin holders (the more coins you have, the more you gain obviously). So you'll get a fraction of everyone that buys after you.

Whats interesting is that when the price dumps there are less coins in circulation and the people who "held strong" get more dividends when people start buying back in (which they are incentivized to do because it became very cheap and the potential earnings are higher).

Im going to throw a small amount (like 0.3 ether) at powh3.com since its cheaper and i'll update later with some feedback.

teilwalL05

hero member

Activity: 980

Merit: 500

Most of the time Pyramid Scheme is not really worth investing in, And in a blockchain technology it will just turn out to be a ponzi scheme because a pyramid scheme always refer to pyramid scam and a business model that recruits member and promising them that they can get an income when they reach a certain level which is true, but as the number of participants multiplies and had congested the system it is nearly impossible for newly member to recruit some more and that is why some member is unable to profit because of it, And this kind of Scheme is unsustainable and illegal

01BTC

member

Activity: 462

Merit: 18

I don't think I quite understand how this works.

Let's say I buy 0.012 Coins NOW and after me another one buys (not my refferal though) will that get me 10% of his investment ?

Pewtorn

newbie

Activity: 7

Merit: 0

the main contract already has 800 ether in it?? How is this even possible? ill take a look at the contract to see whats going on here, sounds too good.

Olihander

newbie

Activity: 16

Merit: 0

Lol this is quite a creative project. The site is full of memes, even in the whitepaper. Im gonna put a little bit in each just to be a part of this experiment

Beicin

full member

Activity: 182

Merit: 100

Quote from: wilberthh on January 30, 2018, 01:44:13 AM

The creators sure have a lot sense of humour lol. I literally can't stop laughing while reading their website xd. But is this a real deal though? seem too good to be true for me. Not gonna lie, it looks like a great project if it is legit. Would love to know the people behind this coin, they should be hired into comedy entertaiment show lol. But wait.... it is just a joke right?

Its kind of a joke/meme coin like Doge. But the smart contract is legit and it's up there for anyone to check (powh1 and 3 have the same contract). There is no function for the dev to claim any funds, and the coin price is calculated on every buy/sell that happens.

wilberthh

member

Activity: 462

Merit: 12

Indonesian Translator, #1 Quality is prioritized.

The creators sure have a lot sense of humour lol. I literally can't stop laughing while reading their website xd. But is this a real deal though? seem too good to be true for me. Not gonna lie, it looks like a great project if it is legit. Would love to know the people behind this coin, they should be hired into comedy entertaiment show lol. But wait.... it is just a joke right?

Beicin

full member

Activity: 182

Merit: 100

Some /biz/ developers created a more legitimate approach to the previous two Ponzicoins that happened in the last two days:

https://powhcoin.com / https://powhcoin3.com (right now powh3 has just dumped and is super cheap to get in, powh1 is pumping hard)

This token actually CANNOT crash, as the price drops when people sell - so the smart contract can't deplete.

Everytime someone buys, current token holders get paid 10% dividends paid in ETH to your adress, so you eventually will have your investment back without even having to sell your tokens.

Thing is taking off since 30 minutes on 4chan, FOMO.

Edit: Here is the contract adress if you want to verify that the contract is trustworthy:

powh1: https://etherscan.io/address/0xa7ca36f7273d4d38fc2aec5a454c497f86728a7a
powh3: https://etherscan.io/address/0xc825aa83f12e4d225ea1f21511a68e7aa78a002f

Topic: Proof of weak hands coin (Read 408 times)