What is Proof of Weak Hands 3D and Why are People Dumping Tons of Ethereum Into It? [cryptocurrency][powh3d]
Ethereum Magnets??
So some of you by now have heard of FOMO3D which I blogged about a couple of days ago. I was really excited about the mad possibilities created by this revolutionary application to an Ethereum smart contract. It has many super smart people theorizing about what could happen to the Ethereum network and to this crazy smart contract that was created by Team Just, with no real solid answer as of yet to what how this will ultimately end.
Some have speculated that there will never be a winner of FOMO3D while others say it might just "break" the Ethereum network or take most of the Ether out of circulation, while others predict more nefarious actions will liquidate the Ether in this smart contract. For now, it's anyone's guess.
Although Fomo3d is still super interesting, right now I want to talk about Proof of Weak Hands 3D (PoWH3D) which was created by Team Just before creating and launching Fomo3D. What started out as a joke ponzi scheme on a smart contract created a lot of buzz to those in the Decentralized App world and quickly developed into the version we see now as PoWH3D which is currently on fire.
Since I last posted on Fomo3D a few days ago, there have been about 120 Ethereum added to the Active Pot that someone is supposed to win. Comparre that to PoWH3D which has had over 5,000 Ethereum dumped INTO the smart contract in the last day alone and looks like it will most likely cross into having over 100k Ethereum locked up in that Smart Contract real soon.
The basics to PoWH3D is that it is a smart contract where you buy their token called P3D, and by holding it or staking it you receive dividends from those that either enter or exit the contract. It can be a little confusing as to how this works or how you receive your investment, so I won't delve to much into that here, just know that going in you will lose 20% of what you put in because that is how others staking before you get paid. It is said that the more people exit, it can be better for those holding because every exit means less members to partake of dividends, increasing your payouts, and enticing others to either hodl or invest to earn more dividends. You can also win referral rewards should others use your referral link, but not necessary to earn a return.
This part "game theory" part ponzi part investment part loan is fascinating, and seems to me like a game of tug of war between buyers and sellers with the hodlers sitting back eating popcorn watching the action and possibly collecting some rewards while doing so.
Anyhow.... I am sure this will be the talk of crypto for the next fews days, maybe weeks and months until something else grabs the crypto world by storm.
Let me know what you guys think of this crazy madness call PoWH3D and Fomo3d.... plus there is going to be a new release in the next half day or so.... things are getting frothy!!
Full Steem Ahead!
@streetstyle
I had some eth in P3d, got almost no divs since it was a ghost town for awhile. Sold it.... And then it pumps 8000 something %. You know I won't buy them now... Too butthurt to do so...
Yeah I understand..... although whatever it is they got going on there at Team Just is crazy on fire.....not to shill but it still might be ok to try since it will be working with f3d long and the new one about to come out f3d short....
This is the best investment ever!! I join p3d when it started out and now I'm invested in both p3d and f3d. The smartest ponzi ever I would say. Few more hours till the short con starts :)
@zord189 Thanks for your input and congrats on some savy investing!!
Did I explain the very basics ok because I am still learning about this stuff?
Also, do you know how the new Short will work or still waiting on details?
Big Thank you!!
Oh yea, u explained the basic properly, although I realized it's easier to explain using visuals because everytime I tried to shill p3d or f3d, I had to meetup and talk face to face with the person.
It kinda takes time to teach the SUPER smart mechanism behind both p3d and f3d because they are both of different game and coding. But u explained the basics well enough. You can probably shoutout that the they both are written on the Ethereum Blockchain as ERC-20 which is also known as smart contracts. These ERC-20 is reliable because it is hard coded and tough to hack. No one has done it before. Hardcoded is good because that means the developers cannot change or manage the system and run away with it. That is why this 'ponzi' is so 'safe' because it is managed entirely by the erc20.
For Short Con, I read it will give divs to both p3d tokens and f3d keys holder. WHICH IS CRAZY!! I hope u have invested into p3d tokens earlier bcause now the price is not worth buying in anymore. As for f3d, u can still invest.
Hope I wasn't too technical :)
No this was awesome @zord189 and I thought I had read that the new Short version will payout to FOMO Long and P3D so that is awesome news.
I am in, not as early as I would have liked but I think there is a lot of room left to run for these contracts though. The DigiDao is a $200Millin Eth Contract and EOS was a $1Billion contract.....
Waiting for short now!!! woo hoooo!!!
Heheh, that is indeed AWESOME NEWS man. Ahhh, don't worry, I believe f3d won't end that early. I predict it'll go up until 1 eth per key. Wat do u think? Hahah.
10 hours to SHORT! Let's do this bro!
Only the early entrants are the most benefitted here. Sounds much like the networking where the topmost earn the highest return.
I can't say for sure @rocksg because some have theorized that in POW3D, the "Hodlers" benefit more when many more people exit, giving them better returns which then causes some of those or others to return back in for the incentives of better rewards... but I am not so sure of all the mechanics to PoW3D.
Same for Fomo3D, yes the early ones benefited greatly and if still hodling still benefiting.... but Fomo also does pay some returns to those that "play" this weird game....but what starts to happen when a key that right now cost $3 dollars starts to cost $100 or $500 or maybe even $10,000 ? I believe these rewards will also go to those holders/playes that came later. Again, though not sure how all this will work workout....
But they are definitely Great experiments for Smart Contracts, Human Greed and Cryptocurrency/Blockchain Tech.
What do you suggest about the best time to enter in these projects? Are you planning to also or just happy with our steemit community? In the beginning I was a regular follower of yours and loved to read from you and learnt a lot of things by your posts. You were also quite impressed by my art and photographs. But as I can see you do not post much here and not have visited my blog since a long. What is going on these days my friend? Has life been tough to you? Although we have not met but by the connection of words and feelings, we can be healed if possible.
I don't suggest join any of these unless you understand what you are getting into and what can be the result in worse case scenarios.
But if you do jump in on these, of course early is always best... but like for instance ask about Amazon stock or Netflix stock.... both good companies and have made early stock investors rich.... is it still good time to buy these stocks... that will depend on a many things, including your risk aversion vs potential profits and many other things....no easy answer.
And everything is well @rocksg Thank you for asking. I have been more consistently on steemit recently.... it just sometimes depends on what is happening in my life. Sometimes too much work, or travel (none lately) or just spending more time with my family.
Anyhow, thanks for supporting and stopping by @rocksg
ps, there will be a new one of these coming out in about half a day called Fomo3d Short. Do not know details yet but they should be out soon. Take care my friend.
Something confuse me about this FOMO3D it seems a little lacking information I mean it's like really a real deal that could blow you away, but sincerely I feel it's got this ponzi characteristic to it. I could be wrong though, it's just my heart.
It's been a while my friend,
@josediccus Yes these concepts are hard to understand...especially because these are Hybrids...
so it can be like a ponzi scheme.... except if all works according to the rules, someone theoretically should win the FOMO3D jackpot making it more like a lottery But this game theoretically could also go one forever... I am not sure if anyone really knows.
One thing is for certain, $10 Million Dollars for a Lottery Jackpot is peanuts. California just had a winner of one worth $530 Million Dollars.... the question for now is how high does a ticket to grab the Fomo3D keys costs when there is a $100 Million Jackpot? Will someopay $500 when the clock shows 1 minute left? Will Someone pay $10,000 when there is only $30,000 second left to win the Jackpot?
Proof of Weak Hands 3D is also some what confusing and has different aspects of ponzi/investment also... except with this one you do stake tokens for some returns.... but there is a lot more to it that I am still not sure of.
What people think, "How to take a chance before the storm comes..."
Creator is smarter than an observer.☺
so what do the observers do?
Nothing. something or everything?
Observing, and giving an impartial solution, it should be so. And you, do very wisely. Thanks!
A good post, I believe that cryptomir will be decisive for many in this world. Thanks for the information
i have no idea about it sir.Thanks for give knowledge about it.
Information is very important, and I am very grateful to get information from this article
You got a 9.15% upvote from @upme thanks to @streetstyle! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).
The concepts are tealy hard to understand. But my focuse is try to understand. And hopeful it will be great for crypto lovers.