The “Proof of weak Hands” (POWH / P3D) Coin has recently gained lots of attention by using an exploit on Etherscan to send promotional “JUST powh.io” tokens to almost everyone. However, people are saying that its a scam, so let me tell you why this isn’t the case.
What is POWH?
In a nutshell, POWH is an ETH Token, which rewards you for holding it. Every buy order increases and every sell order decreases its price. Additionally, every single POWH transaction has a 10% fee, which gets split up proportionately among all P3D owners. This means that if you buy in before others do, you will benefit from dividends and a rising token value. Even when people are selling and your POWH tokens lose some value, you get dividends.
So is it a scam?
No. While POWH uses a sort of pyramid system, it is not a scam. A scam would allow the creator to profit at the expense of the investors, while this token runs on a smart contract, which makes this impossible. There have been already many different attempts at stealing the ETH, as the contracts ATH was at almost 20’000 ETH.
Don’t believe me? The good thing about ETH Tokens is, that they are open-source. You can go over the code yourself to verify that it is legitimate!
As this article would be a bit short due to P3D not being a scam, let me tell you a bit more about this coin.
Some other P3D Related Questions
Whats the minimum investment?
There is no minimum investment required for this token; however, I recommend buying at least 5 tokens so your masternode is enabled.
What is a masternode?
In actual cryptocurrencies, Masternodes are nodes that hold a defined amount of coins, to prove that they are invested into the coin. In return, these nodes get a cut of the transaction fees, as miners do. With POWH, the masternode is just a “marketing term” for a referral link.
Can I refer myself?
Yes, but you will need two accounts. Here is a quick guide: Buy 5 P3D tokens with your first address. Create a second address on Metamask, and send your ETH there (Leave a little bit behind so you can reinvest on the first address). Copy your masternode link, delete your cookies and visit the site with your link. Buy the tokens and enjoy a 3.33% Cashback :)
Why should I invest?
This is a coin that reacts very well to price surges, as the token value goes up and the investors get dividends. Additionally, holding P3D tokens will give you an advantage in the upcoming coin, FOMO3D.
We don’t know much about this coin yet, but it is being developed by the same team and is scheduled to come out very soon. I have high hopes for this coin as the devs have proven themselves worth to create a good coin.
Was anything unclear? Did I get something wrong? Let me know in the comments!