Serious PoWH discussion

Lets have a serious PoWH discussion.
I really like this ERC20 token and i think its probably a game changer and i tell you why.

It looks like this is the first selfsustaining pyramid in which people actually are able to be moving up in the pyramide. The only thing they need is time. Its literally every time a coin is purchased on stone is builded while when one coin is sold one stone is getting removed. So what this means is the following. When the pyramid is getting bigger and bigger the time a new stone is placed literally is getting longer. You can actually proof this by looking at the etherscan adresse and look at the transactions. But if a whale panic sells the transactions are skyrocketing which means that even if you get in late, you will get up higher as well.This also means that everytime a big whale sells, the dividends are also split between less token holders which means their dividends are also growing faster.

This thing could unironically replace tether as a save bet when the market crash and you need a decentralized save place.

I still have some concerns about that token before going all in. Im not good in reading smart contracts and thats why i started this thread in the first place. So my concerns are the following:

part1:

Other urls found in this thread:

reddit.com/r/CryptoCurrency/comments/7tzdaz/human_stupidity_is_the_only_unlimited_resource/
reddit.com/r/CryptoMarkets/comments/7tv2yd/proof_of_weak_hands_coin_a_mathematically_secure/
themerkle.com/ethereum-now-has-its-own-self-sustaining-pyramid-scheme/
fynestuff.com/cryptocurrency-actual-ponzi-schemes/
reddit.com/r/CryptoCurrency/comments/7u4l9w/ethereum_now_has_its_own_selfsustaining_pyramid/
test.jochen-hoenicke.de/eth/ponzitoken/
madstackscoin.com/mycoins.html
youtube.com/watch?v=ebArPInO6_A
youtube.com/watch?v=iXtsoyIs8RM
medium.com/@Cryptokeeper/the-smart-contract-ponzi-scheme-that-isnt-really-a-ponzi-scheme-e1f26d0eedc6
powhcoin.com/index2.html
etherscan.io/address/0xa7ca36f7273d4d38fc2aec5a454c497f86728a7a
imgur.com/a/rP7Gn
etherscan.io/tx/0xa2026a6b10a80e630e1ed6dd8dcd0a60a6050429f3605adb71af99fc91d65385
etherscan.io/address/0xd8119f70ba04f85eb51f9101e867eda1d38c857c#tokentxns.
etherscan.io/tx/0xc9eb96396e0c5bc9ede9ceab49599f9d51269dce01220c2c0fef642b41a2123a
twitter.com/SFWRedditGifs

part2:

1. When someone sells 2 Tokens at a price of lets say 0.2 ETH. Will he receive 2* 0.2 ETH or will he get 1* 0.2ETH + 1* 0.2ETH *0.9975 ?
(the 0.9975 is comming from the 0.25% price change per sell/buy)

So there are two options here:
a.) he recieves 2x 0.2 ETH
This actually means that over time the tokens will become more and more expensive and at some point people will really not be able to buy more tokens. This is bad and i hope this is not the case. The conclusion here would be also that poWH is not a true loop since and at some point in the futre would die because noone would be able to buy more tokens.

b.)1x 0.2ETH + 1x 0.2ETH *0.9975
this would be awesome since he basically recieves less for each additional token he sells. This also means that big whales actually lose money when they sell huge quantities. Making this coin probably one of the biggest and most secure coins of all time.
This could also work if someone sells a fraction of a token. For example 1.678 PowH tokens. Would mean he would het 1x 0.2 ETH and 0.678 * 0.2 ETH * 0.9975
Now lets go to the second concern:
2: On the powh page it is stated that its possible to sell all coins even if the website is gone. But is it actually possible to buy new tokens if the website is down? Like sending ETH at the token address or something?

If b) is true and and its possible to buy and sell the tokens without the website this token is probably one of the most genius inventions of the blockchain sofar. This could bring out o whole digital scarcity economy. Like in game items that all have an base value and can be used in platform unrelated games.

>This thing could unironically replace tether as a save bet when the market crash and you need a decentralized save place.

good luck using all the ETH you saved in that ponzi after ETH crashes

no it couldn't dumbass because when enough people cash out the contract wont have neough to pay the rest

Yes thats another concern. Its basically based upon the idea that Ethereum is stable or always available. But lets just assume for a moment it is.

Its mathematically impossible for Bitcoin to disappear. So the same rule applies for ethereum. The value of ethereum fluctuates of course. But the same rule can be applied to every stock, crypto and ERC Token.

That's because OP didn't understand the contract.

You get dividends when people BUY, NOT SELL. The thing is, when people sell, you'll get a larger percentage of the dividends, so it'sgoo for people to sell and push the price down, that means more buyers will come. This coin can be lucrative for people that hold AND for people that ride the swings. Only idiots will get burned.

Which means if you're holding and it gets pumped in the future you reap MASSIVE dividends. It's literally tailored for people in here IMO.

I believe you are right with b) but not 100% sure.

You can sell without website, just send a 0 eth transaction with the following data to perform functions:

Sell tokens: 0x75c7d4e1
Withdraw (dividends/tokens): 0x2e1a7d4d
Sell + withdraw (getmeout): 0xb1e35242

Additionally, you can go to the etherscan page and copy/paste the contract ABI into myetherwallet, and interact with functions through metamask this way. Functions kind of like a GUI

So this means concern 1 a.) is true? Can you please proof that.

If 1 b) is true i cannot see how this contract can ever go to 0.Since each buy is +0.25% and each sell is -0.25%. Also each sell is at least 90% of the current price which and the 10% are split between all holders which means its less dividends if there are more bricks in the pyramide.

Its the same reason why bitcoin can never go to 0 as well, since there will be always a person left who is HODling bitcoins. And since you potentially only lose 10% when buying cheap PohW there will be always enough people to buy them.

The only reason to lose money here is if you are selling at the bottom. But this also applies for every crypto. The only difference in this crypto here is that it has a in-built inducement to buy bags. which is pretty clever.

1) The second scenario is correct. Each coin you sell will decrease the price that your next coin will sell at.

2) I don't see why you wouldn't be able to buy directly from the contract without using the website. There's nothing in the contract that looks like it verifies that the website is involved

please make sure you upvote and post something positive here, lets keep the shilling strong please,

reddit.com/r/CryptoCurrency/comments/7tzdaz/human_stupidity_is_the_only_unlimited_resource/

reddit.com/r/CryptoMarkets/comments/7tv2yd/proof_of_weak_hands_coin_a_mathematically_secure/

we need 24/7 front page on both cryptocurrency and cryptomarkets. if we have that publicity, it will bring in more buyers to the contract!!!

It's a great hodl buy, made 0.5 eth over night lmao

Just FYI, people on the bottom are starting to lose their share of dividends to the newbs at the bottom and will probably yank their shit out soon to (a) lock in their gains and (2) snag a spot in the next ground floor. IE, get ready for a crash in about 100-200 eth

guys lets post those articles on reddit on cryptocurrency and on crypto markets
themerkle.com/ethereum-now-has-its-own-self-sustaining-pyramid-scheme/
fynestuff.com/cryptocurrency-actual-ponzi-schemes/

after that lets post the thread for us all to upvote! and to reply some hopium for everyone to buy! thanks eveyrone lets keep this strong

THIS, MAKE IT HAPPEN!

That's why you either panic sell and do the same or you just hold and collect dividends as everyone else buys back in. As long as you don't buy too high you pretty much can't lose

please stop what you doing, and go upvote the new thread on cryptocurency and get it to the front page! reddit.com/r/CryptoCurrency/comments/7u4l9w/ethereum_now_has_its_own_selfsustaining_pyramid/

>You can sell without website, just send a 0 eth transaction with the following data to perform functions:

This is pretty good news actually. Thanks user.

I also did the math now and looked at my current balance.

3.6294 is a balance
if the sell price is 0.179292
and 0.6507 the shares worth.

3.6294 * 0.179292 = 0,6507223848

Mmmh... looks more like a) is true. Or the website simply shows the wrong numbers.
Would really like to know where to look at in the smart contract.

pretty sad if true. Someone should create an ERC-20 Token where this is fixed and a true loop.

themerkle article is much better, I don't like how the fyne article links to the clones

if b) is true this would mean it should be calculated like this.

1* 0.179292 + 1* 0.179292 * 0.9975 + 1* 0.179292 * 0.995 + 0.6294 * 0.179292 * 0.9925 = 0.648531346914


So its seems like powh i sadly just a very slowly collapsing ponzi.

There should someone create a token which fixes this issues.

thank you so much, i deleted it, dont want to promote the clones at all. just saving all my shill and energy for the main og coin. if we can all shill it together for a few days/weeks/months we will all make it ! just make sure to buy every dip and explain to everyone to buy every dip.!
reddit.com/r/CryptoCurrency/comments/7u4l9w/ethereum_now_has_its_own_selfsustaining_pyramid/

please upvote!

bump

upboated

Another way to proof that the bank is leaking and loosing a tiny fraction of money is by looking at the total volume by ETH price and compare with the current token price. The current token price should be also an indicator how many tokens are actually floating around.

Also is there a maximum suply of this tokens or is it infinite? I would guess its ininite.

My understanding is that it's essentially infinite. But it is self protective because if the price goes up super high, it's prohibitive because people wouldn't be able to afford the inflated cost. So you can't really have people flooding the market or diluting value like you could with a tradition crypto token.

how do I mine PoWH?

Been looking through the contract and I'm still not sure. Here's relevant code snippets:

Buy:
function getTokensForEther(uint256 ethervalue) public constant returns (uint256 tokens) {
return fixedExp(fixedLog(reserve() + ethervalue)*CRRN/CRRD + LOGC) - totalSupply;
}

Sell:
function getEtherForTokens(uint256 tokens) public constant returns (uint256 ethervalue) {
if (tokens == totalSupply)
return reserve();
return reserve() - fixedExp((fixedLog(totalSupply - tokens) - LOGC) * CRRD/CRRN);
}

Token supply seems to be infinite. It's increasing, atleast.

Download Internet Explorer and erase system32 folder

This, who's on the shill shift tonight ?

I'm shilling the fuck out of it. We're getting to 1k ETH again bois

The math is that current dividends are approximately .0001 per incoming 1 ETH per owned powhcoin.

The selling price drops for each powhcoin sold, so if you sell 3, each one is at a slightly lower price.
Buying in now at current price of 0.20ETH would take approximately 200ETH increase in contract for you to break-even on selling price while earning approximately .02ETH in divies on the 200 incoming ETH, even with sells and buys on the way up, the extra divies would be marginal at best

GODSPEED FAGS ITS OVER

...

here is the new thread to make sure you upvote and shill please

reddit.com/r/CryptoCurrency/comments/7u4l9w/ethereum_now_has_its_own_selfsustaining_pyramid/

Seriously though, what if the dev released a "miner" that just mined ETH for the contract and rewarded PoWH?

thanks bro, I was shilling hard last night

don't spread fud, check with author if you don't get what's in the contracts' code

Wait for this by the OG devs my dudes. Coming in a few hours..

this would be huge

Thank you for that. Logarithm is a good sign at first sight. Because it could mean that there is neither a) or b) true

there could be a scenario c.) which looks the following.

for selling 3.6294 Tokens where the current value per token is 0.179292 this could mean

3.6294 * 0.0025

and

0 * 0.0025

is interpolated.
which means there is an logarithmic decrease when selling 3.6294.

But im also not 100% sure about that.

Also there was an medium post from the developer a couple of days ago about powhcoins and about its math. Sadly i cannot find the link. It was pretty interesting.

Anyone here has this link?

stop shilling clones, use the original

wtf is that

test.jochen-hoenicke.de/eth/ponzitoken/

This is where the inspiration came from. I'll see if I can find a medium article, this is from home page of website.

No you want in on Shadow if it drops with dividends on sales

Thank you very nice. Thats exactly what i meant.

awesome, np. post your thoughts here, I'm interested in the math behind this as well. I agree the presence of a log function is reassuring.

The math/values in original are slightly different than the current powhchain however, just a heads up

fuck off shill

How is this even legal? It seems like infinite money once you do the math.
In this game theory esque market with a zero sum result,where none of the coin value is lost,

On the surface, its only good to hold, yes? Thus the price always rises, but eventually people will sell because the profit from selling will outweigh the dividents due to too many bricks.
After this happens, dividents rise for the holders, and they win as well.

The only losing position is being (one of) the last(most recent) to buy, but assuming the coin has circulation, you will always cease being the last buyer with time.

So the only losing result would be if nobody ever buys the coin (the coin dies).

Now, assuming that ever happens, people would be forced to sell/cash otu right?Well, the ones who don't sell will make fortunes from potential future dividents.

Here comes the good part:

Once the number of stakeholders is low enough, their stake in the market will be high and they can realistically cooperate to artificially pump and dump the market without having to pay the % loss (because the money will be spread out between themselves).

Once this happens, circulation resumes, attracting more people with guaranteed profits, reviving the coin.

And this is just the math - it excludes other real factors like absolute madmen and fools, and market positivity which add to the gains.

If enough people get in this, it will be made illegal for sure.

I'll shill profitable math until the day I die

It still might be that the current worth displayed on the website could be an display error and its not using a possible scenario c.) logarithmic math behind.

This would be the best scenario for this token to work long term and this could truly replace tether.

At the current state i would suggest the best way to proof if the bank is not loosing money is by calculating the current bank value(in ether) and compare it with the current token price.

If the bank is not loosing money this would mean that for example if the bank reaches 1000ETH total value the token price should be always the same.
we could also try to recalculate the current price if we would know at which price the smart contract started.

There is an actual wall on powchart, someone is accumulating at .20

we are all going to be rich

you are actually be paid for your time waiting for your dividends.
The only difference is that in bear markets and panic sell times your dividends are increased. which is one of the most clever uses of smart contracts ive ever seen.

I'm pretty sure the website just straight does A*B, where A=your tokens, B=currently sell price. When you actually call sellmytokensdaddy(), or getmeout(), internal logic sells tokens and applies the log math, so you will be receiving a very slightly different amount of eth when you cash out.

I would test myself but I don't want to sell my tokens haha

why not? is scam anyway

I think you've got the jist of it, however, how will this be made illegal?

They can't take down the smart contract, and as far as I'm aware, participating in a ponzi scheme is not illegal. If cryptonick and trevon black are still walking free, then shill to your hearts content.

>pic related

yeah its the only concern i have that prevents me from going all in.

>tfw powh basically means that you are gaining when other people are panicing.

Its such a clever thing to do.
Thre are other factors that make this thing interesting.

1. You can only sell all coins. Which means people on top of the pyramid exit with everything.
(is it possible to sell only fractions of those tokens, though on something like etherdelta?) If yes, this would be even more interesting.

It's possible to use several addresses. I'd be surprised if whales don't already do that.

I have actually tested this. If you load the ABI in MEW you are able to interact with the public Transfer() function. With this you are able to transfer your POWH erc20 tokens to another address manually. I haven't tested if that user will then start receiving dividends, but I don't see why not.

You don't understand what I meant. It will be made illegal because it will piss off the jews knowing we made a superior ponzi scheme to theirs.

I get it, but how will it be made illegal? Will it become illegal to participate in? If they shut down the website, the contract still exists and people can just make more. There's no "owner"/"organization" running this, so who will go to jail? Shillers? Will this be illegal in every country?

I fail to see how (((they))) can effectively criminalize this idea.

Yeah that might be clever. Using multiple ethermask accounts with lets say 5ETH each to prevent selling everything. Its pretty easy to create new accounts on ethermask as well.

Yeah but it seems like you can only call the function to sell everything but not give the function a float value for like selling only 25% of your coins.

a whale is stealthing in at .20

Its irrelevant though. A government can call it illegal if they want, but ETH is global and can't just be stopped. Nor can the smart contract. It will sit there scamming until the year the very last miner stops mining ETH (if that ever even happens).

I don't think that's right. There's only one public sell function:

function sellMyTokensDaddy() public {
var balance = balanceOf(msg.sender);
transferTokens(msg.sender, address(this), balance); // this triggers the internal sell function
}

Which calls an internal function. It sells the full balance of msg.sender. If you want to sell a portion of your tokens, you will first need to use the public transfer() function to send tokens to another address, then call the getmeout() or sellmytokensdaddy() functions.

Pretty slick imo

interestingly it seems the smart contract actually has an parameter for the tokenCount in it but its never used. Probably to let people crash the market which is quite hilarous.

a stagnating market is probably the biggest risk now for that token. Like a market in which noone buys and noone sells.


function withdraw(uint tokenCount) // the parameter is ignored, yes
public
returns (bool)
{
var balance = dividends(msg.sender);
payouts[msg.sender] += (int256) (balance * PRECISION);
totalPayouts += (int256) (balance * PRECISION);
msg.sender.transfer(balance);
return true;
}

function sellMyTokensDaddy() public {
var balance = balanceOf(msg.sender);
transferTokens(msg.sender, address(this), balance); // this triggers the internal sell function
}

function getMeOutOfHere() public {
sellMyTokensDaddy();
withdraw(1); // parameter is ignored
}

On second thought:

function getEtherForTokens(uint256 tokens) public constant returns (uint256 ethervalue) {
if (tokens == totalSupply)
return reserve();
return reserve() - fixedExp((fixedLog(totalSupply - tokens) - LOGC) * CRRD/CRRN);
}

You might be able to call this and input the amt of tokens you want to sell. Haven't tested

Fuck me the first time I've ever since biz rally together for the greater good

Not worth it to buy in now because regular crypto market is gonna go back up and give better returns Fun experiment though

>Not worth it to buy in now because regular crypto market is gonna go back up and give better returns Fun experiment though

what this needs is a pump and dump operation. I wonder if it could be possible to create a discord group with all whales inside. To coordinate the whole market to oscillate.

Or we could pump and dump a doubler from the ground floor ourselves, ponzicoin contract is back that doubles every 10 coins sold.

madstackscoin.com/mycoins.html

no thanks. need to read the smart contract first.

Same smart contract as the original, still managed to double 8-9 times. The mining won't matter for the people who get in now, will only kill the late comers.

Do you have to withdraw the dividends somehow?

Fuck the clones, but this coin needed to pay dividends on sell too, so that there would be more incentive to be the last to hold (get all sell dividends)

the one and original is profitable enough, don't need fucking X clones that drives normies away, so fuck off

yeah, easy to do through website. can also manually cashout through smart contract

These dividends are not at all profitable when split amongst so many people. The dividend stagnation has begun, and the selling will come next.

For those that want quick gains now, the original ponzicoin contract is the way. Madstacks just started:

madstackscoin.com/mycoins.html

youtubers starting to shill, please take a moment to upvote these

youtube.com/watch?v=ebArPInO6_A
youtube.com/watch?v=iXtsoyIs8RM


reddit.com/r/CryptoCurrency/comments/7u4l9w/ethereum_now_has_its_own_selfsustaining_pyramid/

rememebr 1 powh coin > 1 btc

Can a whale that has ethereum send me $3 to $4 worth to test a strategy? Can pay back if I make it. Let me know the percentage you want back. Will also let you know my strategy but it will be obvious if you follow my wallet.

0xeFDECb092Ab2a38c8Df5E2Cad2fBEAE44c611Ab0

nice meme
it's premined without any attempt to obfuscate
anons are encouraged to check it out themselves, all the way to the bottom

>just started
>2 days 11 mins ago
shoo shoo

>0xeFDECb092Ab2a38c8Df5E2Cad2fBEAE44c611Ab0

kys

anything under 100k ETH is a steal desu

Just started in terms of where we're at, only 0.01 away from first double though.

Another usefull thing might be a alarmsignal which is triggered, when a whale sells PoWH.

original had same in code
was solvent till 200+ETH

medium.com/@Cryptokeeper/the-smart-contract-ponzi-scheme-that-isnt-really-a-ponzi-scheme-e1f26d0eedc6

thanks, I didn't realize the dividends cashout was inside the sell option.

stop fudding

reddit.com/r/CryptoCurrency/comments/7u4l9w/ethereum_now_has_its_own_selfsustaining_pyramid/

posts on cryptocurrency sub reddit front page is what brings in alot of normals into testing out ethereum, and into using metamask, and just throwing away a bit of money into the contract. remember we want alot of small fishes not whales. because whales can manipulate the price. but eitherway we will win in the end!

just make the shills strong, please go upvote everything positive u see on reddit and youtube and twitter about powh,
ony the original coin, the clones are exit scams!

Thanks to the user for donation. It is very much appreciated and sorry I was afk. Check the wallet to check my progress. The strategy will be obvious, I just have to figure out my point of entry now.

That’s what that fucking pajeet doesn’t realize. PoWH literally proves the power of Ethereum and smart contracts. HOW DO PEOPLE NOT SEE THIS. A LITERAL PYRAMID SCHEME THAT CANT BE SHUT DOWN BY ((((them)))). It can’t ever go away

were you able to get your dividends out? tried submitting the transaction, been about 30 mins and can't find the transaction on etherscan

it's bound to crash at some point when the price is too high for new comers, thats the point of it after all.

Continuous PnD.

On a side note, are the rumours of the Shadow side project from the devs true?

>PoWH
Lets have a most seriously PoWH discussion sir .I having really liking this most ERC20 token sir and I am thinking its in theprobably a game of most changer and i tell you why sir.

Fuck off and die prajeet

So, some guy (u/privacy_agreements) pointed out in another post that there was some code commented out in the website showing how to withdraw only part of your "investment". I decide to check it out and experiment with it a bit. Turns out it works very well!

After trial and error (I may have wasted some gas and sent tokens to a random address), I have cashed out 0.01 POWH as ETH. Here's how you do it :

First, Head out to powhcoin.com/index2.html . This will give you access to the necessary functions.
Press F12 and go to the console (for google chrome, figure it out if you have another browser)
Type in these lines of code, one by one :

loadManualContractInteractior();
ponziContract.balanceOf(web3.eth.accounts[0], function(err,x) {console.log(err,x.toString());});

ponziContract.transfer("0xa7ca36f7273d4d38fc2aec5a454c497f86728a7a","AMOUNT", function(err,x) {});
Replace "AMOUNT" with the amount of POWHcoin you wish to convert, do not forget the quotes!! Also, the second line indicates how many POWHcoins you have in your account, including the decimals, so select the amount accordingly.

shit's genius

have successfully cashed out and withdrawn dividends, if you check smart contract address you will see many people withdrawing. Try using a slightly higher gas price like 5-10 gwei to verify. If you can post a link to tx I can take a look.

Smart contract address:
etherscan.io/address/0xa7ca36f7273d4d38fc2aec5a454c497f86728a7a

This will open a metamask thingy, as per usual. Select gas and submit the transactions.

Ta-da! Your POWHcoin balance will be lowered and your dividends balance will have increased!

Then if you want to withdraw it to your ETH address, simply withdraw your dividends.

Here is a screenshot of what it looks like. I have withdrawn 0.01 POWH out of my 1.05 POWH balance. imgur.com/a/rP7Gn

Take a look at the transaction initiated by the last line of code. etherscan.io/tx/0xa2026a6b10a80e630e1ed6dd8dcd0a60a6050429f3605adb71af99fc91d65385

Hope it helps some of you weakish hands out and incite you to sell part of your coins, thus crashing the price and giving more dividends to HODLers and IRON HANDS.

One last thing. This can be used to transfer POWHcoins. Simply replace the contract's address (0xa7ca36f7273d4d38fc2aec5a454c497f86728a7a) with the destination address (do not forget the quotes!). I may have accidentally sent 0.0037 POWH to a random address (the one in the commented out example). See for yourself! etherscan.io/address/0xd8119f70ba04f85eb51f9101e867eda1d38c857c#tokentxns.

>imgur.com/a/rP7Gn
thanks... tried 22 gwei, still nothing.

etherscan.io/tx/0xc9eb96396e0c5bc9ede9ceab49599f9d51269dce01220c2c0fef642b41a2123a

still going strong, HODL for fucks sake, no point in selling now

Nice work!

An alternative way to accomplish this would be to use MyEtherWallet's contract section to directly interact with ABI. I will post pics/tx in a few min.

Did you have any pending transactions at the time you submitted this one? You might have sent another transaction with the same nonce as an earlier tx. If you have other transactions still pending that might explain it. Can't see on etherscan so hard to know for sure