Introducing PoWH3D: Can a Pyramid Scheme be fair? YES, it can!steemCreated with Sketch.

in money •  11 months ago

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What is PoWH3D?

PoWH3D is the third iteration of the Proof of Weak Hands token, an Ethereum-based contract which wants to bring honesty to Pyramid Schemes (Yes, really). For more than a month, PoWH has been sweeping the internet and has moved a volume of over 2700 ETH. The site features high quality design, and a ton of pyramid-like imagery. But what is it, really? Is it a Pyramid Scheme?

Indeed, by the traditional definition, PoWH3D is NOT a pyramid scheme. Why? The crucial distinction that emerges between PoWH3D and its former versions and competitors is that money is not funneled to the initial investors and developers. Instead, restrictions on the amount they can invest, as well as a linear price algorithm, dividend distribution and referrals, mean that it is a fair investment for all players, likely offering profitability even for those who invest into PoWH3D much later than those in the first round. The only way you can not make money is by selling too early, A.K.A. "Having Weak Hands."

There is no manipulative “scheme” in this “pyramid” - it's all benefit, verifiable by source code.

How does PoWH3D work?

There are several important features, all either unique or modified for PoWH3D, which ensure the fair equity of the contract as stated above.

  • Linear Scaling: This ensures that early investors do not gain access to disproportionately cheap coins, spreading out the benefits for the community considerably.

  • Early Restrictions: The earliest of those to invest, the developers and advertisers of PoWH3D, are limited to transferring 1 ETH each into the contract.

  • Proof-of-Stake Shilling: If you have 10 or more PoWH3D tokens in your wallet (Currently ~$23 USD), you will become a "masternode". Masternodes take a direct fee of 3% of all purchases made using their referral link, which they can share with anyone in order to entice other investors. This ensures a continuous growth of the token, which is beneficial to both early and late investors.

  • Dividends: Any investor into PoWH3D receives a share of the tokens which are bought after them - 10% of every single purchase, and 10% of every sell are distributed to token holders as ETH.

  • Entry/Exit Fee: The Dividends financed by a buy-in fee of 10% applying to funds as they enter the contract. There is also a separate 10% levy on funds as they exit the contract. Both elements ensure that the community benefits more than any one individual, and discourage large holders from "pumping and dumping" the token.

  • Token Transferral: At any time, tokens can be transferred between members. PoWH3D is ERC20 compliant!

How can I trust this contract? Don't you remember BitConnect?

PoWH3D’s code is open-source, written in the Solidity language for Ethereum, and accessible upon release on its etherscan.io address. It is therefore possible to verify that the above features have been implemented honestly, and that the infrastructure of the token is sound. This is unlike anything which has come before it - Bitconnect, for example, was closed-sourced and lied to its users about its source of revenue. You'll find nothing but transparency at PoWH3D.

We can assure further that the code has been audited and tested by numerous programmers, approved by Solidity experts such as Tocsick, Norsefire and Arc (Developers of EthPhoenix which has remained secure for over a month). These developers and the community also performed 2 test runs, demonstrating that the mentioned features do indeed yield equitable returns for investors in a wide range of scenarios. In short, the code works as it is meant to, and has been tested by hundreds, if not thousands of users already.

PoWH3D’s development team is all-new, carefully chosen for their skills - A departure from those who have worked on the previous PoWH contracts with mixed success. Where the previous "PoWHShadow" failed was that it did not go through the rigorous examination described above, it was rushed, leaving the contract open to an obscure bug. The constant and successful testing of the PoWH3D token, yielding equitable and fair returns, is a testament to the new team’s dedication to achieving returns for the community, as opposed to themselves.

How can I invest?

You can click on the link below; additionally, instructions are given on the website. You will need to install the Metamask browser extension, and own Ether to invest.

If there are any further questions, or if you are interested in getting involved in the community, the development team and community are happy to help you in their Discord chat server: https://discordapp.com/invite/Y6CHepn

The community is crowdfunding further marketing campaigns, and multiple dApp layers will eventually be developed to create a "Smart Economy" - Futures for example, offering you the opportunity to buy or sell margin positions of the token.

If you found my write-up helpful or interesting, you can support me by using my Masternode link:
https://powh.io/buy.html?masternode=0x0668dea6b5ec94d7ce3c43fe477888eee2fc1b2c

The Website: https://powh.io/buy.html

The Contract: https://etherscan.io/address/0xb3775fb83f7d12a36e0475abdd1fca35c091efbe

Metamask: https://metamask.io/

DISCLAIMER: None of the above is to be taken as financial advice, and I am not a financial adviser. All investments, including PoWH3D, have inherent risk because of unpredictable market sentiment. Do your own research before you throw money somewhere!

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WARNING TO ALL STEEM MEMBERS

powh3d facts:

  1. If the contract is hacked or fails then you will lose your money.

  2. If the contract remains intact then the following facts remain...

  3. If someone buys in, then everyone already in gets a small portion

  4. If someone sells, then everyone that's still in gets a small portion.

  5. If every one sells except you, then there will be still enough eth on the contract to pay you if you are the last to sell. IF IT DOES NOT GET HACKED.

I am not promoting or endorsing this platform. This is my brief product review.

That is all.

I love these honest pyramid schemes, I always find them to be satirical of the crypto market in general which is probably why I end up throwing tiny bits of ETH into them.

Honestly though this is a pyramid scheme still, so I'm not promoting it at all.

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