Are You Ready to FOMO?

I am a P3D coin holder and will directly benefit in more than one way if you sign up. The referral link that is plastered throughout the post is not mine, but please use it anyway

Just about four weeks ago fellow @steemitmamas, member, told me about an awesome investment opportunity called. POWH3. I jumped right in, even though I didn't really understand what was going on.

you still have to do your own research, as blind trust doesn't usually pay off

But this time it did.

What is POWH3?

Some people call it a bank, others call it a platform, some call it a ponzi scheme, others call it a pyramid scheme, and others point out that its not a triangle, its an hourglass.

I call it an internet game based on the Ethereum Network for people who like to HODL Ethereum.

This is how it works

In order to by a part of this platform, you must purchase ethereum. Once you are a proud Ethereum HODLer you can store Ethereum on the platform.

The Ethereum is stored in something called P3D tokens.

Every time somebody buys a token, they get "taxed" 10% of their Ethereum by the platform. The 10% is taken and distributed to all of the people who purchased tokens before you.

Every time somebody sells a token, they are "taxed" 10% on the way out as well. This exit tax is distributed within the remaining P3D token holders.

The money is distributed in something called "divs" or gains. The "divs" are all yours and do not get taxed. Unless of course, you use them to buy more P3D tokens. If you buy more tokens, you get taxed again, and the tax is distributed to all of the token holders.

Is this a ponzi scheme

Totally.

If you buy in today, and nobody else buys in, then your money just sits there. It does nothing. Then, when you are ready to withdraw it, you get taxed another 10% to get it back.

The holders of the token only make an income when somebody else buys into the platform or sells out of the platform.

That is why I say its a ponzi.

But its a heck of a profitable ponzi

Why? Because people keep buying the token. Why? Because the developers of the platform are geniuses who figured out how to create games out of the token.

And the game is a HODLing game. The longer you HODL, the more money you make.

But the "fun" is in 3D

Every time somebody buys a new token, the price of all the tokens goes up. Every time somebody sells a token, the price of all the tokens goes down. This affects the value of your Ethereum.

Some people bought their tokens a LONG time ago. I have chatted with people who bought the token when it was only cost $3.00 USD to purchase one. Now it costs close to $20 USD to buy one.

So all the people who bought at $3.00 USD have made a TON of profit. But they can't spend the profit until they sell their coins, and once they sell their coins ... no more divs.

And everybody likes divs.

that 30 year old boomer who mows his divvies bright and early

If you had purchased 100 tokens at 3USD a piece and now they were worth 20USD would you sell?

Recently there was a huge spike in P3D purchases

Why, because a new game started. FOMO. Which I will be writing about. Soon™.

The games based on the token pay dividends to those who hodl the token.

Everybody wins.

Except those with weak hands.

What does it mean to have weak hands?

It means that you sell your token.

I've seen the discussions around it.

If you buy low, then sell high, and wait for it to go low again, and buy back in, you make more money
Which is true. Except that its totally possible to get priced out. And then, no more divs.

If you buy without understanding, see the 10% tax, get scared and sell back out right away and get taxed another 10%
Yup, weak hands

If you get into the ponzi, and then the platform stagnates and there is no movement so you get bored and withdraw
Weak hands

You see the value of your ETH soar. So many people bought tokens after you that the value of the token went up. You are counting your ethereum. And them people start selling. And you see your investment start to disappear, and so you sell
Weak hands.

Because the divs are the name of the game, not the value of the ETH stored in the tokes

Or so I think. Other's play the game differently and win more money. Others play the game differently and lose money.

One thing I do know. There is a limit to how many people can buy in.

Or is there? Does enough ETH exist to keep feeding the P3D monster?

Does this sound interesting?

Don't take my word for it, do your own research. And while doing your own research be mindful of the joking, biting, sarcastic nature of the developers of the platform.

In fact, this is what they say about their "investment platform:"

"This is an entertainment platform, not an investment platform, are you not entertained?"

Header image picture is my own, edited with canva, meme shots were created by the P3D community for advertising purposes, and the banner was created for the steemitmamas community and used with permission.