April 3, 20184min1038

POWH3D – Play Crypto As A Smart Contract Game

POWH3D is an Ethereum based smart contract that was created in the wake of Bitconnect and other crypto-ponzies collapsing.


 

First things first. This is NOT a real crypto coin! Well… technically it is, but it’s not a serious project. It’s actually a joke/sarcasm project to highlight how gullible/overoptimistic some crypto “investors” really are and how fictitious crypto projects can be.

Like Dodge Coin before it, POWH3D started out as a MEME project, but it looks like it’s taking on a life of its own. The smart contact currently holds 14,603ETH and it’s steadily rising.

POWH3D

The premise of the smart contract is that it charges a hefty 10% in fee on every transaction and it pays it out to all token holders. This creates a steady source of income for token holders as long as there are more people buying than selling.

Unlike traditional ponzi schemes, with POWH3D, which stands for Proof Of Weak Hands 3D, even if people start to sell, the remaining holders get 10% of the transaction and in theory their tokens become more valuable.

This has now turned into a very interesting psychological experiment, because not unlike Bitconnect, the success of investors will be determined exclusively by the timing of their buy and sell orders. As long as people believe there will be more people entering the game behind them (even though they know or in Bitconnect’s/USI-Tech and similar cases suspect it’s a scam), they will continue to make money. A self fulfilling prophecy,… while it lasts.

POWH3D are not shy about what they’re doing. They parody themselves (and crypto) right on the home page.

POWH3D - When Lambo
POWH3D – When Lambo

The value of the token follows a mathematically defined formula so it can be easily predicted.

POWH3D Token Price
POWH3D Token Price Formula

As the crypto economy and market place evolve, more and more scam projects are emerging. It’s therefore very important to stay vigilant and keep your eyes wide open for any red flags. Guaranteed returns are certainly one of those red flags and this project is a well intentioned parody, which will hopefully raise awareness and improve the safety of investors in the future.

Good luck with your investments and stay safe out there!


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