What is POWH3D?
The full name of POWH is Proof of Weak Hand, not named after technical meaning but for some fun purpose obviously. The mechanism of this game somehow is taking advantage of weak hand which I would explain later.
Simply put, this is a game to earn ETH(Ethereum) as passive income by holding the P3D tokens. Every trade(buying/selling) would have to pay 10% fee in term of ETH and this fee is not going to the devs or game creator but to all the holders of P3D.
Are you trying to scam me?
I wish I could.
In POWH3D, you don't have to trust anyone as there is no human involved at all. I mean, players is just trading with a deployed smart contract which running on the Ethereum network. Yes, everything is handled by the contract, a pile of codes.
Buying P3D selling ETH, selling P3D for ETH, the price of the P3D, distribution of fees to tokens holders, masternode referral reward assignment, everything is executed by the smart contract.
If you able to read codes, here is the full source code for the smart contract: https://etherscan.io/address/0xb3775fb83f7d12a36e0475abdd1fca35c091efbe#code
The contract is just 800 lines which should not be difficult for some simple auditing, in this video The Crypt is making a full running through an explanation for the codes. This smart contract has been audited by some experience smart contract engineers and the feedback was all positive.
So there is nobody to scam you, the smart contract is not going to run away with all the fund within it as long as the code still intact.
How is this project attractive?
While many claims that a crypto project should not have existed if it weren't created to solve the real world problem, and POWH3D is a total pyramid-schemed money game which producing no value at all. I agree every bit of the former part, however POWH3D does solve some real-world problem.
If we have to admit money games are not going to anywher as long as greed exists , POWH3D creates a perfect system to make a pyramid scheme, money game, or whatever equivalent running on a completely honest and transparent level where no one could abuse.
- Code is the law, not a single human is able to touch the fund.
- The team makes everything transparent and dealing the game with utter honesty, you can actually learn everything from the official site.
- This game did not make any promises on the return and did not intend to at all, unlike the Bitconnect, making $100 a day remember?
- The contract already has a massive stake, 80k of ETH at present.
- The team is good at making games that base on human greed, and such games always go viral easily and all the P3D holders will be rewarded from the result of other games. The best example is the hottest chick in town, FOMO3D.
- Income generated from other product makes POWH3D not a zero-sum game anymore.
What is the risk?
The biggest risk to me is the integrity of smart contract code. If someone finds a loophole or bug in the contract they can easily drain all the ETH in the wallet. But having all the seasoned contract engineers approved the codes and with so much money inside the wallet(80k ETH at present), I believe the wallet was under constant hacking attempt, yet it still standing strong today. This fact makes me feel comfortable.
Alright, what if everyone dumping the token? Will the token be worthless?
To be honest, as a money game token P3D is kinda worthless as it would not brings in real value if you want to buy service/product with it. All it does is just collecting passive ETH income from other's trading fee.
Everyone dumping the token is one of the best things that could happen to the strong hands in the game. Don't forget all the selling off will incur a 10% fee which goes to the token holders. At present, there is 80,000 ETH in the contract and let's do some simple math. 80,000*10% = 8,000 ETH will be distributed to the strong hand. Let say you are the one last man standing in the game, your portion in the distribution is getting bigger as the P3D holders are decreasing.
Don't forget the name of this game, weak hand is going to feed the strong hand. In another word, what to lose even if the token dumping can be profitable?
Verdict
I know this article is full of shilling for this controversial project where many people called scam or Ponzi. But seriously did you even study how the whole thing works before claiming as such? I did my research and I found the system design to be impressively exquisite. Why don't take the shady part(there aren't any IMO) lightly, put some ETH in the contract which you are Okay to lose, see some free ETH rolling in every day, get a feel of how a fully automated exchange is working.
It is going to feel awesome.
Feel free to discuss this whole new concept with me in the comment below. Diss or praise, you are welcome to voice out!
Enough, I want to join now!
If you find this article useful and would like to join the fun, please support me by using the masternode link below for your first P3D purchase.
https://powh.io/?masternode=0x6e02e12a3458c82d5ae51d1492e8bca14e1532a7
I would love to assist you in the process, drop me a message over Discord anytime!
Disclaimer: Do not trust a single word of mine, do your own research!