The Proof of Weak Hands 3D is an Ethereum hosted Smart Contract DAPP that is set up like an investment fund in order to provide “investors” with “dividends”. The system uses an erc20 token called P3D.
Whenever someone buys into the system, 10% is deducted and spread to the community. Whenever someone cashes out from the token to Ethereum, 10% is deducted and spread to the community. These are called dividends, which is the encouragement for holding the P3D token.
When you buy into the Proof of Weak Hands system, you are buying P3D with ETH. When you cash out, you are cashing in P3D for ETH, and the cashed out P3D’s get burned. Dividends are awarded in ETH, and there is no penalty for taking them. You only pay your normal ethereum transaction fee which is from the Ethereum network and applies to ALL ETH transactions.
Everything is defined by and enforced by the Proof of Weak Hands Smart Contract, which is a computer program (DAPP) written in the Solidity language and it runs atop the Ethereum network blockchain, which is decentralized over the Internet. This means that it cannot be shut down and no one can mess with the code or change it.
The Proof of Weak Hands system was deployed within spec, test netted, hack tested, and audited by several Solidity developers.
To get your ETH into the contract (buy in), you will need an Ethereum wallet, NOT an exchange account wallet address. What this means is that you need something like MyEtherWallet(.com) and the Metamask Chrome browser plugin. You set up a wallet on My Ether Wallet and save your private keys somewhere safe and written down and secured, and you create an account in Metamask and hook that to your ether wallet, so that you can use the Metamask password and plugin to access your wallet from anywhere. You transfer ETH into your ether wallet from an exchange account, like Coinbase, or Binance or similar, and then you can send it into the contract. It’s actually not difficult.
Once you buy in, your P3D tokens earn you dividends that are paid out to you and you can either withdraw them in ETH or reinvest them (reinvest is buying P3D so there is the 10% fee for that, which goes back into the community dividends). So you see, even though you pay to get in or out of P3D, you get dividends (affectionately known in the community as “divvies”) whenever ANYONE buys in or sells out. In this way, VOLUME and VOLATILITY are your friend!
One more thing, if you have a certain number of P3D, you also get a Proof of Weak Hands masternode link, which is a referral link coded to you, so that anyone who buys in through that link earns you 33% of their ETH buy in, in ETH. This gets added to your dividends immediately. You don’t need to promote, but it is in your interest to do so.
Differences Between Proof of Weak Hands 3D and Ponzi Lending Platforms or Ponzi like Online Advertising revshares
You are not buying ad packs that expire, so your buy in earning capacity NEVER diminishes.
POWH is not centralized – it is decentralized, so it can’t be shut down.
POWH is not run by people who can succumb to greed, steal the funds, and leave with everyone’s money. The smart contract is programmed honestly, it’s open source, hack tested, audited, and decentralized, so it is not vulnerable to the legendary “exit scam”.
You merely deposit into it and that is it. No ad clicks, and the dividends last as long as there are people buying in or selling out. Initial buy in token price can fluctuate, so you can lose or gain on your initial buy in amount with the price fluctuation of the P3D token, but the dividends over time should more than make up for that. A good strategy is to buy in, collect divvies, and when they reach your buy in price withdraw them so that everything in POWH is now “house money” that you are playing with.
Referrals are a one shot deal when someone chooses to buy in through your Proof of Weak Hands masternode. There is no residual MLM like payment structure or team building when it comes to referrals. The good thing is that everyone’s referrals enter the system and do the whole community good.
What About this Proof of “Weak Hands” Thing?
In crypto investing (any investing, really) there are the strong types that hold onto their investment through the toughest bleeding bear market, and those who panic sell because they choose to get out with something (even at a loss) rather than what they perceive as nothing, even though if they manage to hold on until things rise again they may not lose anything and stay in profit.
In this case, these “weak hands” that aggravate the holders (hodlers, in crypto jargon) in normal markets, mainly because the sellers that fuel bear markets hurt the values of everyone’s portfolio, are actually a source of gain in this system, since selling out incurs a 10% penalty that gets redistributed to every P3D token holder. When people buy, you get rewards, when people sell, you get rewards. As long as there is activity, it is a holder’s paradise.
The fact that this is a real project with a top notch ethical development team, and that they deployed this smart contract the right way, means that you can trust what is a trustless system. Trustless systems ARE the future. Why would you want to trust your funds to a human who is subject to emotions like greed? Computers have no such emotions, and if the code is audited and not able to be altered, then this is something that is special.
Smart contracts will be doing away with many lawyers, bankers, shady investment people, and other financial vermin that steal our hard earned funds through fraud.
These smart contracts will be changing entire industries, and Ethereum is the reason for the optimistic season that is upon us. Before Ethereum came along, it was just Bitcoin and Bitcoin clones that were different in small ways. Ethereum is the real ground breaking technology, no matter what the Bitcoin maximalists want you to believe.
So, anyone who mistakenly and ignorantly writes off POWH as some kind of a ponzi scheme is just dead wrong. They do not understand the technology, do not understand blockchain and all that this offers to humanity, and you are better off not listening to those types. They are hacks.
Why not just invest in the overall crypto market?
While none of this is financial advice, any financial advisor would say that diversification is a good thing. I am merely saying that this novel approach might be an interesting diversification strategy or hedge against the wider crypto market.
Who doesn’t like rewards?
POWH is not a corporation, it’s not a company, and there’s no one drawing salaries as a result of handling money. The contract handles everything and the dev team are members along with everyone else. They merely maintain the project and may add new twists to it, like new tokens, over time. This is not some centralized company that can be fined or shut down, and these guys smartly keep their identities shrouded to protect themselves from criminals and other threats. Some people may consider that shady, but remember, even the creator of Bitcoin is unknown and did it under a pseudonym.
I implore you to study smart contracts and blockchain technology and come to your own comfort zone with this concept, and then when you are ready, get in. Don’t put in more than you are comfortable with losing, and treat it as a gamble, like a night or a week at the casino. The difference here is that more than likely you’ll walk out ahead, unlike at a casino!
Thanks for reading and make sure that you bookmark and share out this site for your Cryptocurrency and tech news.
