What is the purpose of Proof of Weak Hands 3D (P3D)?
[/b]In these early days of cryptocurrency plagued by scam ICO’s and early exits from multi-million dollar start-ups it’s no wonder that one of the first questions often asked about any new development is ‘What is the tokens purpose?’ or similarly ‘What problem is the token trying to solve?’ and rightfully so I might add – I ask these same questions for each and every new investment I consider sinking my hard earned fiat into.
Recently on my relatively new Twitter channel - www.twitter.com/PoWH3D_uk I was asked this very question – Twitter’s 280 character limit may have been a tall order as a thorough reply so here’s my two pence worth in 4,136 characters.
To me first and foremost P3D is a ‘game’ of entertainment showcasing the willpower and emotional desires of all its players – a global public experiment if you will on how as humans we are - in part - controlled by the lure of financial gains, maybe for a better life, perhaps just for the euphoria of winning a big hand, no different to a big pay-out at the slots in Vegas right? – Wrong, to me P3D is so much more.
Without delving into the depths of how P3D works and how it’s structured - there’s plenty of brilliant videos and blog content out there doing just that so let’s assume you already know the answers and have therefore researched the dividend pay-out scheme that P3D offers – this in my opinion is P3D’s secondary purpose – and an almighty beneficial one at that;
From 6.30a.m until about 7.00p.m (if I’m lucky) I fall in line with society, my daytimes are currently dedicated to running two contracting firms helping me pay my taxes, leccy, gas, diesel, tv, food bills and at the end of that maybe if I’m privileged enjoy some spare change to spend on life (sound familiar?) – I do get by comfortably fortunately but that takes time, effort and skill – P3D requires none of those components from me yet still allows me to earn an additional passive income through the dividend scheme – how can I argue right? Daily I net on average 0.04 Ethereum, that’s 0.4 of an Ether every ten days or roughly 1.2 Ether a month, even at today’s bear market rates that’s a cool £393 (or $558) but, more importantly to me at least – that’s 1.2 Ethereum – arguably one of the few coins likely to succeed long term in the new world of cryptocurrency and who’s to know what it’s value will be in the next five years… that’s passive income baby.
That brings me to P3D’s third and final purpose and one which we’re all familiar with – Solid Investment.
Why are we in the cryptocurrency market? For me it’s the excitement of technological advances, the disruption to global markets and decentralization of world economies – oh yeah and I’m looking to make enough financial gains for a better life (sound familiar again?). Cryptocurrency has thrown a spanner into the investment world – bankers, hedge funds and ‘whale’ investors simply aren’t used to seeing the gains and falls that the cryptocurrency market carries and too right - it’s current volatility is enough to send any multi-million-dollar investor running back to Wall Street. P3D’s unique algorithm could be the answer to improving volatility allowing for a stable token which appreciates or depreciates proportionally depending on market flow. Its value is tied to Ether, the more Ether in the contract the higher the value of P3D, as Ether is pulled P3D is burnt and its value decreases – at just under 3000 Ether in contract to date P3D’s current value is a volatile as it will be - providing and assuming more Ether is added to the pot P3D’s value will only become more stable, this means as the contract cap increases it becomes less likely that big dropouts from ‘whale’ investors will have a massive knock on effect to the remaining party, what’s more if those larger investors do get ‘weak hands’ us remaining token holders will benefit happily though the increase in dividends from the selloff.
Looking forward to the long-term investment value (and discounting dividends) P3D’s is currently sitting at 0.00820 Eth/P3D with 2852 Ether in play. If I bought just 1 Ethereum worth of P3D today I’d be rewarded with 120 tokens – when (yes when not if - IMO) the contract hits 10k Ether in play those same 120 tokens would be worth 1.52 Ether! Yes, that might take 4 weeks or 8 weeks or 12 months either way if your confident in the token and the contract the long-term rewards can be plentiful.
In summary the purpose of P3D for me is to bring excitement, a passive income and a solid confident long-term investment with huge potential. I’m bullish with P3D hence why I’ve diluted a lot of riskier investments and boosted my holdings in this particular token, I like the community, the informative dev team, the structure of the contract and of course those sweet, sweet Divs.
I hope you’ve enjoyed the read. If you want to see more why not go over to my Twitter page and follow me @PoWH3D_UK or come for a chat on the P3D discord app @ https://discordapp.com/channels/408499477901475840/426479049465135107
What’s more it’s always appreciated if you enjoyed the read to use my Proof of Weak Hands master node link when you’re thinking of buying into the contract @ www.PoWH3D.co.uk
Final Disclaimer – I’m in no way a financial advisor, the cryptocurrency space is purely a hobby to me and this article is for entertainment purposes only, please do your own research when debating investments.
Joe PoWH