PoWH3D: A Holding Revolution?
The world would be a far more interesting place if people were free to explore their creative outlets, pursue those little desires that just don't seem feasible in this increasingly harsh existence. The inexorable slog of brutal and unending menial tasks or physical labour, all in the name of 'earning a living'. We all know that probably 1 in a 100,000 of us is more than capable of a technological breakthrough easily capable of supporting the rest, now so more than ever. Instead we pile jobs on top of jobs as if we need to justify our very existence, whipping up bureaucrats and middle men to watch the middle men watching the bureaucrats making signs to remind the middle men to watch the other middle man trying to write up a work order for a prole to take an efficient shit so as to not eat into shareholder value. Brain power, creativity and magnificence all gone to waste because somewhere along the line we forgot to be human when someone told us to get a job.
The concept of a Universal Basic Income is a welfare regime slowly entering into the mainstream zeitgeist. Crypto-technology is widening the possibilities within our grasp in myriad yet to be seen ways. Open source projects and decentralisation are becoming increasingly appealing to the overwhelmed masses, tired of being taken advantage of and led astray by corrupt and shadowy figures. Genuine global collaboration of world changing projects are becoming much more of a reality to the common person, searching for some sort of light in this tunnel of grim capitalist horror we seem to have fallen into.
Proof of Weak Hands 3D (PoWH3D) is a tiny, community based concept with just these lofty ideals. It's an experimental, simulated market system that utilises an ERC20 token, controlled by an immutable smart contract. It's a community driven investment platform which attempts to encompass multiple economic dimensions in the hopes of a fair and beneficial system for everyone. Token price is adjusted based on supply and demand. Any volume, whether it be buying or selling results in a tax, or a dividend if you will, with 10% equally distributed to every other token in market. In the event that you've personally put in the hard yards and brought a new buyer into the market with your own referral link, 7% of that tax is allocated to the entire pool, while 3% goes to you, introducing a labour based edge to the model. By removing the human puppet strings, it removes market manipulation and corrupt overseeing from the equation.
Imagine a bank, run by an open source, publicly audited smart contract. Not a bloated bigwig and his scoundrel accomplices. Your deposit or withdraw, and you are charged the same percentage fee as every other person, big or small. You see greater and greater returns by simply having your funds in the account along with everyone else, as adoption increases and worldwide volume grows. There is no fee to withdraw your dividends as Ethereum, any time you want. Not only that, if you feel like you want to advertise the contract you're rewarded for your work.
To get started, the only things you need are Metamask (learn more at www.metamask.io), some Ethereum, and the website itself (https://tinyurl.com/powh-io)
This project is still only very early days, but considering the entire concept is so simple and sound, the room to grow is potentially enormous. The community is flourishing, brimming with imaginative designs, applications, concepts and optimism. Many new phases of development are just around the corner. Whether you're interested in the ideology of the concept, the community spirit of genuine collaboration, or if you're just interested in new ways to make money, PoWH3d is an undeniably intriguing system.
In the interest of transparency, I own just over 100 P3D tokens, a meager sum, but I like putting my limited money where my mouth is. The PoWH link I have used in this article is my own masternode (you can have one too!)
Everything you need to know is laid out for all to see on the website: https://tinyurl.com/powh-io
If you want to know more, or would like to contribute anything at all to the community, or if you just want to watch before you dip your toes in, join the Discord community at: https://discordapp.com/invite/wfG97Kt