blazingprofits
Junior Member
- Jan 7, 2010
- 192
- 148
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The recent bloodbath made me and many people realize not everyday is sunday and that we should explore whatever out there that is profitable to make up for days like this.
Though other than traditional mining/staking/MN and trading, that's pretty much all there is i know that one can do, to profit in crypto.
Until i came across this claim of passive ETH dividend.
My BS alarm immediately went off but i decided to dive deeper regardless.
To my surprise, i find this very interesting and believe its worth something we should explore into.
So what exactly is this?
It is a ERC20 based token, with smart contract that claims to secure the funds involved and generates passive income in ETH for the token holder.
It is called "Proof of Weak Hands"
Their website is as follows:
Main Site: powh.io
How does it work?
As the name suggests, its got to do with "weak hands".
"Weak hands" in general refers to people who could not "hodl" and often sell at low price or even for loss than waiting for higher price.
The idea in general is to reward "Strong hands" through "passive dividend" as they hodl through and take advantage of the "Weak hands" if they sell.
Just like trading, when you purchase any coin, exchange platform will charge you a fee for that transaction and you gain only when the price is higher and lose if you sell at lower.
BUT the twist here is that the fee is not for the platform but into a pool for all token holder, thereby
generating a "passive dividend" when transactions are made.
Simply put, you buy their token using Eth, based on the price set by the algo in the smart contract and affected by the purchase or sell.
Every purchase increases the price by a small percent.
Every sell decreases the price by a small percent.
Each purchase or sell or transfer includes a 10% fee
This 10% fee is split to reward affiliate(if any) and also to the reward pool as dividend which is shared by ALL token holder.
Which means, no matter if people sell or purchase, everyone will benefit in a way.
Just holding the tokens will be entitled dividends in ETH for every transactions made by others.
It is then available for withdrawal or reinvest for larger share of dividend.
Can this fail?
As it is ran by smart contract on the Eth blockchain and coded in theory such that the admin cant touch the funds nor change the code or destroy the contract, even when their website is down, the smart contract will continue to run.
However, nothing is 100% guaranteed safe in crypto. Even exchange platform gets hacked.
Their first version is bugged and Eth lost but have since rewrote their smart contract and secure now.
Their smart contract is open to review as well for those who knows coding.
What's my plan?
As they are still in very early stage, i plan to get as many tokens as possible, reinvest and hodl for the passive dividends.
Right now they have reached nearly 1300 ETH and it may explode soon.
Youtubers like craig grant, trevon james and others are already talking about it.
Feel free to ask or your thoughts on this. Is this the new gem or a joke? You decide
Though other than traditional mining/staking/MN and trading, that's pretty much all there is i know that one can do, to profit in crypto.
Until i came across this claim of passive ETH dividend.
My BS alarm immediately went off but i decided to dive deeper regardless.
To my surprise, i find this very interesting and believe its worth something we should explore into.
So what exactly is this?
It is a ERC20 based token, with smart contract that claims to secure the funds involved and generates passive income in ETH for the token holder.
It is called "Proof of Weak Hands"
Their website is as follows:
Main Site: powh.io
How does it work?
As the name suggests, its got to do with "weak hands".
"Weak hands" in general refers to people who could not "hodl" and often sell at low price or even for loss than waiting for higher price.
The idea in general is to reward "Strong hands" through "passive dividend" as they hodl through and take advantage of the "Weak hands" if they sell.
Just like trading, when you purchase any coin, exchange platform will charge you a fee for that transaction and you gain only when the price is higher and lose if you sell at lower.
BUT the twist here is that the fee is not for the platform but into a pool for all token holder, thereby
generating a "passive dividend" when transactions are made.
Simply put, you buy their token using Eth, based on the price set by the algo in the smart contract and affected by the purchase or sell.
Every purchase increases the price by a small percent.
Every sell decreases the price by a small percent.
Each purchase or sell or transfer includes a 10% fee
This 10% fee is split to reward affiliate(if any) and also to the reward pool as dividend which is shared by ALL token holder.
Which means, no matter if people sell or purchase, everyone will benefit in a way.
Just holding the tokens will be entitled dividends in ETH for every transactions made by others.
It is then available for withdrawal or reinvest for larger share of dividend.
Can this fail?
As it is ran by smart contract on the Eth blockchain and coded in theory such that the admin cant touch the funds nor change the code or destroy the contract, even when their website is down, the smart contract will continue to run.
However, nothing is 100% guaranteed safe in crypto. Even exchange platform gets hacked.
Their first version is bugged and Eth lost but have since rewrote their smart contract and secure now.
Their smart contract is open to review as well for those who knows coding.
What's my plan?
As they are still in very early stage, i plan to get as many tokens as possible, reinvest and hodl for the passive dividends.
Right now they have reached nearly 1300 ETH and it may explode soon.
Youtubers like craig grant, trevon james and others are already talking about it.
Feel free to ask or your thoughts on this. Is this the new gem or a joke? You decide
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