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When did this exchange launch?
This POWH3D exchange was launched in February 26th, 2018. You can see the very first investment into the exchange here on the blockchain.
What exactly is PoWH3D?
PoWH3D is a unique cryptocurrency exchange (powered by an autonomous smart contract) which allows you to trade Ethereum for P3D tokens. P3D tokens are ERC-20 tokens with a clever twist: Every P3D holder receives direct earnings in Ethereum every time that anyone else buys, sells or transfers the token based on the amounts of tokens (in % out of total amount minted) held.
Can I access PoWH3D from a mobile phone?
Yes! You can install TrustWallet on iOS or on Android and enter your same seed words from Metamask to have full access to your metamask account via our mobile interface! We are listed as official token in the Trustwallet marketplace, with full scale functionality compatability. You can send, receive and buy P3D with ease.
What exactly is a Smart Contract?
A smart contract is a set-in-stone piece of programming language that was submitted to the Ethereum (Eth) network upon launch of our token. The smart contract handles all Eth and tokens autonomously without any form of human input, and its calculations and functions are confirmed across thousands of computers across the world before they are run.
Can the owners edit this exchange now that it's running?
This exchange is entirely powered by a smart contract. A smart contract, once deployed, is immutable which means that the code cannot be changed by the owners except in very limited ways pre-programmed into the contract. Check out this in-depth code review by @RockHardMeat for a detailed analysis of the PoWH3D smart contract.
The only features the developers can configure on the contract are the name of the token and the price of the masternode feature.
Technical Note: In order to access the funds in a smart contract, the author would have to call this method:
selfdestruct(owner); from within the contract code. The contract code has been very carefully audited, and this method doesn't exist anywhere.
Can the owners or anyone shut this down?
The owners could take down the main exchange website front-end at any time. But that's just the user interface and has nothing to do with the contract which powers this whole system.
A contract, once deployed, is immutable which means that the code cannot be changed by the owners except in very limited ways pre-programmed into the contract. The only features the developers can edit on the contract are the name of the token and the price of the masternode feature.
Even if the main site was shut down, you'd be able to use backup sites to perform all the same functionality. And even if every single web front-end was shut down, the contract powering everything would still be fully operational and could be interacted with directly.
No government, company, judge, or site owner can shut down the contract. The contract is deployed to the Ethereum network and will be fully functional until the last Ethereum node shuts down.
Do developers have access to the wallet, or funds?
The development team intentionally did not program in a way for them to access the Eth or tokens in this game. It is run entirely 100% autonomously by the code you can read open-source on the smart contract. No humans are allowed to intervene. Period.
But seriously who holds the private keys to the wallet?
No one does because there is no private key or wallet, the smart contract manages all the funds. The entire exchange is powered by an immutable smart contract. The development team intentionally did not program in a way for them or anyone to access the Eth or tokens held by this game. It is managed entirely 100% autonomously by the code you can read open-source on the smart contract. Even if the developers wanted to try to pull the money out, they can't. No one can. No humans are allowed to intervene. Period.
How is this token run without developer interaction?
P3D Tokens are managed entirely on the smart contract, the purchasing process creates the tokens and puts the funds directly into the contract. The selling process melts those tokens down and returns the funds to the seller directly. Because of the unique way that this process works, the token can function under unique rules not possible on other cryptocurrencies. Check out this in-depth code review by @RockHardMeat for a detailed analysis of the PoWH3D smart contract.
What unique features does the token have?
P3D Tokens operate under a perfect economic simulation in which all transactions (buy/sell/transfer) are taxxed 10% automatically. Since the smart-contract operates its own exchange and the token is autonomous, these fees are automatically split up and rewarded to all token holders instead of a centralized governing body. Simply put, each token grants you a stake of 10% of all volume the cryptocurrency experiences.
Is POWH3D a type of pyramid or ponzi scheme?
POWH3D is first and foremost an exchange buying/selling P3D for Ether. This project also acts as an exploration of cryptocurrency as a whole. Let's take a closer look to see if this project falls under the definition of a pyramid, Ponzi or a scheme. In addition, check out this video by
@RockHardMeat for a detailed analysis.
A pyramid scheme is a business model that recruits members via a promise of future payments or services for enrolling others into the scheme, rather than supplying investments or sale of products. P3D makes no promises whatsoever, has no multi-level marketing and cannot mathematically collapse. This is no more of a pyramid scheme than other cryptocurrency exchanges that sell currencies and offer referral programs.
A Ponzi scheme is a fraudulent investment operation where the operator provides fabricated reports and generates returns for older investors through revenue paid by new investors, rather than from legitimate profit of financial trading. Operators of Ponzi schemes make false promises and guarantees offering short-term returns that are abnormally high. P3D is 100% transparent and clear about the mechanics and makes no promises or guarantees of anything.
If you must have a scheme, this project can be best described as an "Hourglass Scheme". Unlike a pyramid, where the people at the top benefit, or a reverse pyramid, where the people at the bottom benefit, the game instead is focused on that point right between the two and the resulting hourglass shape they form. Similar to the flowing sand of an hourglass, the volume of eth through our project is intended to benefit everyone holding strongly right in the middle, instead of taking fees from both ends!
Let me explain the joke: P3D is not really a pyramid or a Ponzi scheme. That's the point, it's the literal reverse of what every lending platform says. They claim to be real but are a pyramid. We satirically claim to be a pyramid but in fact are a complete legit cryptocurrency that is ironically one of the fairest and most distributed to date.
Is this a scam like Bitconnect or Davor?
An understandable question given there are a lot of scams in cryptocurrency. You are probably familiar with scam-like operations like Davor and Bitconnect. One user on Reddit put things this way:
Bitconnect was a lending platform and a pyramid scheme. PowH3D appears to be similar but the joke is that it's not like a lending platform at all. The math proves what lies within this smart contract, dyor and read the contract source and the smart contract on etherscan.
Basically, ether is traded for p3d and the ether is held on the smart contract, on buys (10% fee that are sent as dividends to p3d holders) the price increases .25% and generates the p3d tokens, on sells the price decreases .25% and the p3d are burned, no pre mine, the smart contract is automated and runs completely autonomously.
It's been audited by reputable solidity developers whose identities can be found on etherscan. Currently 20k ether for over a month, the incentive to hack this smart contract exists but has yet to be broken. Passive dividends that rely on buys, sells and transfers, not new investors, this isn't how a pyramid scheme works.
The important things to remember are that:
- No Large Pre-mine. Scamcoins generally have big pre-mines where developers take a huge amount of coin for themselves. In this case, around 20 project ambassadors were each allowed to purchase up to 1ETH each. Beyond that, P3D has no additional pre-mine.
- No Exit Scams. Scamcoins generally involve shady anonymous site owners holding your money while you "earn". The owners could take your money and exit scam you at anytime. In P3D, there is no one controlling your money, the exchange is entirely operated by an Ethereum open-source smart contract which cannot be changed! Owners here cannot touch any Ethereum from the contract, even if they wanted to.
- No Promises. Scamcoins usually make false promises about guaranteed returns or other claims of ROI which cannot be sustained. P3D makes literally no promises and is completely open and transparent about the mechanics of the system.
In short, this P3D exchange is not fraudulent in any way. This is a unique exchange powered by a smart contract which taxes all transactions (buy, sell, transfer) in order to pay out earnings to all token holders! The developers keep no extra fees beyond the tokens they themselves hold.
However, that doesn't mean using this exchange doesn't have inherent risks as explained below.
Seriously though, this is some sort of scam, I'm sure of it!
Let's go through the common concerns again in even more detail:
- What makes this different from everything else?
- Can't this be exit scammed?
- Can't the owners steal my money?
- Isn't this just a Ponzi scheme?
- But isn't this some sort of fraud?
- There have to be some risks?. Yes there are, read them here.
- What if the owners shut down the site?
- What happens if the contract runs out of money?
- Couldn't someone else clone this idea easily?
In short, please read, do your own research, and then come to
#helpdesk on discord to ask questions.
Alright, but what are the risks of participating?
Nothing is guaranteed, and doubly so in cryptocurrency. Everything you do in this space requires careful attention and healthy skepticism. In the case of P3D, here are the major risks when participating:
- Hacks. If an enterprising black-hat hacker were to discover a security exploit in the smart contract code or in the Ethereum virtual machine, they could conceivably steal all of the Ethereum in the contract. Multiple independent Solidity developers have audited and closely reviewed the contract, so the likelihood of a hack is small but not zero.
- Stagnation. The lifeblood of P3D is volume and volatility. If the transaction volume slows down or stops (i.e no one is buying, selling, or trading) then this project will generate fewer and fewer earnings. Depending on when you got in, had you not broken even by that point the earnings stop flowing, you would be at a loss. No one knows when transaction activity will dry up, but it's unlikely to happen in the short-term. Unlikely but not impossible.
- Panic Selling. The value of each P3D token is determined entirely by the buy and sell activity. Every token purchase increases the price and every sell decreases the price by a marginal amount. However, if there was mass hysteria and every single person sold, the value of the P3D tokens would be significantly reduced which would mean your token holdings would be worth very little Ethereum. If there was a massive panic sell, you would of course receive earnings on every sell proportional to your holdings. You would then also receive earnings on every buy as people began buying in again. Would this be so bad?
Those are the three major risks for participating. As @Randzzz said:
Of course the developers (and so many of us) believe in this project. Else, we wouldn't be voting with our time and money. Nevertheless, even giant storied businesses (e.g., Sears, ToysRUs, etc.) fail. So no one here wants to represent a sure-thing. Nobody is promising results. Participate only at your own discretion. By the way, anyone who offers a sure-thing in life probably is someone to avoid.
In life, be skeptical but keep an open mind. Always make your own decisions on if you think it's worth participating!
But seriously, I heard there were hacks, is this safe?
Yes, the rumors are true, many previous clones and iterations on this concept have had contracts that were hacked using an integer underflow exploit and as a result, hundreds of Ethereum were stolen from those contracts.
However, those previous iterations and clones did not take the necessary precautions before deploying live. Please note that all devs from the prior projects are not associated with P3D in any capacity. In addition, to understand if a smart contract can be trusted, you should check for the following prior to a live deployment:
- Competent Developers - Smart contracts should only be used if they are developed by competent and professional Solidity software engineers. Otherwise, the likelihood of an exploit being discovered is much higher.
- Code Audits - Multiple trusted independent solidity developers need to review a smart contract before the final deployment. They review the code line by line and report any issues.
- Testnet - A test version of the site needs to be deployed where "test" Ethereum can be used and the contract can be fully tested to detect any issues or exploits before deploying live.
Previous hacked versions of this project did not follow any of these safety protocols and procedures. The current PoWH3D developer team has taken every reasonable precaution to ensure that this exchange is secure. Now, there are always risks, and if an enterprising black-hat hacker were to discover a security exploit in the smart contract code or in the Ethereum virtual machine, they could conceivably steal all of the Ethereum in the contract. However, this is true of any smart contract, and true of most software in general.
To reiterate, multiple independent Solidity developers have audited and closely reviewed the contract, so the likelihood of a hack is small but not zero. In addition to audits, the developers ran a full testnet where the contract was tested by a group of people with a large amount of test Ethereum. Check out this in-depth code review by @RockHardMeat for a detailed analysis of the PoWH3D smart contract.
Wait, surely someone has to be losing money for this to work right?
We are all earning rewards daily and token price is increasing our holdings significantly. Surely that money has to be coming from somewhere right, someone has to be losing money big time?
Not really though. Unlike scams and frauds, this is a completely above board currency exchange allowing the buying and selling of P3D in exchange for Ether. The only difference is that a 10% transaction tax is applied on every buy, sell or transfer. All profits and rewards are generated by the 10% tax on exchange transactions of every single user buying, reinvesting, selling, and trading.
Rather than one group of users profiting exclusively off of another, all holders are instead working together to provide rewards for one another. We call this the hourglass scheme, first of it's kind.
Why is the token buy price and sell price so far apart?
A 10% tax is incurred on tokens on each transaction. This includes all buys, sells, and transfers on P3D tokens. Adding together the 10% buy tax and the 10% sell tax, there is a ~20% tax which all become earnings for holders from the point at which tokens are purchased with ETH to the point the holder gets the ETH returned on selling.
For this reason, the buy price is roughly 19% higher than the sell price at any given time to transparently reflect this tax.
When do my P3D tokens have a transaction tax applied?
P3D tokens have a 10% transaction tax applied when any transaction of a token occurs. Yes, this means 10% tax is applied to your tokens anytime you buy, sell, or transfer them. Sounds like a lot of tax right? The only notable exception is that dividend withdrawals are not taxed.
This is actually the best part of this token! These taxes are why holding onto P3D tokens means you are constantly being distributed "free" Ethereum every single time any other user of the exchange buys, sells or transfers P3D tokens. This means (when the exchange has transactions), you are waking up to free "earnings" directly in Ethereum. Many users report receiving 0.25-2% of their holdings in earnings on a daily basis (again, your mileage may vary, this entirely depends on transaction volume and is not at all promised anywhere).
Why are earnings (dividends) the best part of P3D?
Earnings are especially awesome because their value is not determined by the value of P3D tokens. The earnings distributed are sent to token holders in Ethereum every time that anyone else buys, sells or transfers the token based on the amounts of tokens (in % out of total amount minted) held.
This means that no one can take these earnings away from you, they are entirely yours to either reinvest (convert to P3D), leave on exchange to accumulate, or withdraw to your wallet to keep! The choice is entirely up to you!
Remember: These dividends paid out to you are yours no matter what happens to the contract or the price of the tokens. Even if the value of the tokens plummet and everyone pulls out their money, that will only increase your earnings since you get them on every single sell.
How much can I expect in dividends/earnings per day?
You cannot expect a specific amount of dividends in a day because earnings are entirely based on transaction volume of the exchange. The earnings distributed are sent to token holders in Ethereum every time that anyone else buys, sells or transfers the token on the exchange. The amount of earnings received is based on the amounts of tokens (in % out of total amount minted) held at the time of the transaction.
If there was zero transactions in a day, then your earnings would be zero. That said, the exchange is highly active. Many users report receiving 0.25-2% in earnings on a daily basis (again, your mileage may vary widely, this entirely depends on transaction volume and is not at all promised anywhere).
What exactly is reinvesting?
Re-investing means that you are choosing to take all your Ethereum earnings (dividends) and exchange them all for additional P3D tokens. During re-investment, an additional 10% buy tax is incurred as with all transactions. In this way, reinvesting your tokens increases your holdings, thereby increasing future earnings. Think "compound interest".
To reinvest, you can check out this short step-by-step video. Or follow these steps:
- Go to the purchase tokens page
- Click "Reinvest" on the right-hand side
- Wait for a metamask transaction dialog to pop-up
- Set the GWEI to "3" for Gas Price
- Review the metamask transaction (should show ETH sent as 0)
- Hit "Send" to start the reinvestment transaction
- Wait 1-5 minutes for the the transaction to complete.
- Refresh your exchange page.
Note that the transaction should display 0eth. Once this transaction completes, your ETH will have been exchanged for additional P3D tokens.
How frequently should I reinvest my earnings?
There is no one definitive reinvesting strategy. There are a few general rules of thumb that get offered:
- Invest once a day in the evening before going to sleep
- Invest when you have enough Ether for 1+ P3D token
- Invest when gas fees are about 5% of the investment
You can, of course, choose to reinvest as frequently or infrequently as you want! You can freely withdraw or reinvest earnings at any time.
How do I withdraw my earnings?
You can watch this short video on how to withdraw to see the process. Follow these steps:
- Go to the sell tokens page
- On the right side look at "Outstanding earnings"
- Hit "Withdraw" button
- Hit "Send" on Metamask (make sure GWEI is 2+)
- Wait until transaction completes
- Earnings show up in your metamask wallet!
Note that no transaction tax is applied when withdrawing earnings. That's all there is to it!
How does selling work?
Visit the sell tokens page and choose an amount of P3D to sell. Once the transaction has been processed, the ethereum value of the sale is put directly into your dividends. You will then need to withdraw dividends to transfer the Ethereum to your metamask wallet. In short:
- Go to the sell tokens page
- Enter an amount of P3D in "Tokens to Sell"
- Hit "Sell!" button to trigger metamask dialog
- Send and wait for transaction to go through in metamask
- Refresh the sell tokens page
- Ethereum from sale is now in dividends section on the right side
- Withdraw dividends to extract the Ethereum back to your wallet with "Withdraw".
Note that dividend withdrawals are not taxed. That's all there is to it! If you run into any issues, try similar steps with the official backup interface instead.
Does the balance already incorporate the 10% sell tax?
When I sell, who exactly am I selling to?
You are selling your tokens directly to the smart contract. The contract then burns those tokens, removing them from supply. In return, the contract provides you Ethereum directly from the contract and distributes the appropriate Ethereum from the sale into your dividends for withdrawal.
What happens if there is not enough money in the contract when I sell?
That is mathematically impossible. The value of the tokens goes up and down in small amounts for every token bought and sold. This means that as people buy into the exchange, your P3D tokens are worth more and more Ethereum. However, as people sell their tokens, the value of each token you hold goes down (-10 gwei). No matter what, the contract will always hold enough ETH to pay you for selling P3D tokens at the token exchange value at the time of sale.
What exactly is a masternode?
If you bought enough tokens for a "masternode", you can share your masternode referral link with others to get bonus earnings when they purchase tokens.
For every token purchased directly purchased from someone that clicked your masternode link, you receive 30% of the dividend earnings (3.33% of the total buy-in amount). For example, if a friend buys 10ETH from your masternode, you make an extra 0.3ETH in earnings instantly!
Note that masternode referral bonuses are only collected on the purchase of tokens and you do not receive any further bonus for reinvestments or token sells. However, if someone has used your masternode, you will receive bonuses on each purchase.
Can I buy P3D using my own masternode?
You are not able to use your own masternode to buy using the same wallet. If you try to buy from your own masternode with the same wallet address, the 10% tax is split to everyone as if you didn't use any masternode at all.
Can I use my own masternode to reinvest my profit?
Masternodes are only used for buys and are not used for any re-invests. If someone buys using your masternode, you will get credit but any future re-invests do not run through your masternode.
What was the initial price per P3D token?
The initial P3D token price was 0.0000001ETH. You can see this in the contract itself:
uint256 constant internal tokenPriceInitial_ = 0.0000001 ether; uint256 constant internal tokenPriceIncremental_ = 0.00000001 ether;
This means that 2 ETH at start of the contract would have gotten the buyer about 20,000 P3D tokens.
Do those holders that bought tokens much earlier get an advantage?
All current P3D token holders are treated exactly the same by the smart contract including the developers themselves. Each wallet holds a certain number of P3D tokens, and the details of when those tokens were purchased by the holder do not affect anything. Instead, the earnings are distributed fairly based on the amount of tokens, in % out of total amount minted, held by each participant.
The value of P3D tokens is governed by the smart contract based on the incoming buys and sells. Those that bought P3D tokens when the exchange rate was lower would have more buying power for the same amount of Ether as another person buying at a higher token price. The fact that the token price fluctuates over time and some holders have more purchasing power is true of all cryptocurrencies.
In addition, those holders that bought in earlier have had the tokens for a longer period of time and therefore have received earnings over time as new transactions were processed. However, beyond these two points, there is absolutely no "early adopter" advantage to having bought tokens earlier than others.
To summarize, the smart contract treats all holders equally and as with all cryptocurrencies, there is naturally an advantage to purchasing tokens when the exchange rate per coin is lower.
How is the value of P3D tokens determined?
The value of all tokens is determined entirely by the smart contract, based on the number of tokens issued. All buy and sell orders move the value in increments (10 gwei) per P3D token. Every time a token is purchased, the value of all tokens increases very slightly in increments (+10 gwei). This means that as people buy into the exchange, your P3D tokens are worth more and more Ethereum. However, as every token is sold, the value of all tokens goes down slightly in increments (-10 gwei).
If the price of P3D happens to be at 1P3D=1ETH and you purchased 5 P3D tokens all in one purchase, each of your tokens would be priced slightly differently (by +10 gwei). This will affect all P3D tokens price that are minted in contract.
For example, on a 5 P3D token purchase at the starting price of 1ETH:
P3D token1 = 1.000000000/ETH
P3D token2 = 1.000000010/ETH
P3D token3 = 1.000000020/ETH
P3D token4 = 1.000000030/ETH
P3D token5 = 1.000000040/ETH
This example also goes for when you sell your tokens (-10 gwei per token).
As more people buy tokens, wouldn't each holder earn fewer dividends?
Every P3D holder receives direct earnings/dividends in Ethereum every time that anyone else buys, sells or transfers the token based on the amounts of tokens (in % out of total amount minted) held.
As more tokens are minted, if your amount of tokens stayed the same, then your % of the earnings payout would be less on each distribution. But as your own dividends accumulate, if you re-invest frequently then you will always be increasing your amount of tokens over time. In addition, because the price of the tokens is increasing slightly with every buy, more Ethereum is distributed to holders when tokens are purchased.
In short, the answer is "it's complicated" but in the long run, only one thing is for sure: The more volume and volatility, the better for everyone.
How are my ETH holdings on the exchange determined?
The exchange has a page for showing your current holdings. This is held separately from the rewards that acccumulate for you as new transactions happen. Your holdings are calculated by taking the number of P3D tokens you own and multiplying that by the sell price for each token (P3D tokens * P3D sell price). The sell price of tokens is governed by the buy and sell activity as explained there.
In this way, as the number of buys raises the total supply of tokens, the token price incrementally increases and your ETH holdings will rise. However, as the number of sells reduces the total supply of tokens, the token price incrementally decreases and your ETH holdings will decrease. In this way, profit on your holdings fluctuates based on the token supply (and buy/sell activity).
What do I do if I can't access the main exchange?
If the main exchange is too slow or inaccessible, you can access this official backup exchange anytime. This backup is simpler but allows you to access all the major functions on the same exact contract!
In the event that all UIs are down and there's no website that you can access. You can instead interact directly with the smart contract.
What is the current circulating supply of POWH3D tokens?
The current circulating supply of P3D can be checked here on Etherscan. The supply is increased automatically as Ethereum is exchanged for P3D on the exchange and can grow to be as large as the demand for the tokens.
What is the total supply of POWH3D tokens?
The supply is increased automatically as Ethereum is exchanged for P3D on the exchange and can grow to be as large as the demand for the tokens. P3D tokens will never run out, they will be minted on demand by the exchange whenever needed.
How do I check how much I've made in profit?
Where can I buy POWH3D merchandise?
Buy all your POWH3D Merchandise at powh.store!
Why do some transactions show 0 ethereum?
When checking the contract, you'll notice many transactions are listed as "0" ethereum. This is because any action on the contract except "Buy" (e.g. Sell, Reinvest, Transfer) require a 0 ETH transactions on the blockchain in order to activate.
What is GWEI and GAS?
GAS is a fixed unit used to represent the complexity of a transaction on the ETH network. A wallet to wallet transaction is the least complex transaction you can have
therefore it uses the least amount of GAS, namely 21,000 GAS. Transactions to smart contracts often involve logic, and therefore they are more complex, hence cost more GAS.
gwei is the ETH unit used to pay for the GAS, i.e. used to designate the GAS price
so for a normal wallet to wallet transaction with 21,000 GAS and a GAS price set at 10 gwei, you would pay 21,000 GAS * 10 gwei/GAS = 210,000 gwei. 1 gwei == 0.000000001 ETH (or 1000000000 gwei == 1 ether)
Can't some other team just clone this and make their own exchange?
There are many different pieces that go into a successful project like this including:
- Transparent and Secure Contract Back-end
- Good landing page to entice newcomers
- Good exchange UI enjoyable to use every day
- Development team and the trust people have for them
- Community team and the incentive they have to help out
- Marketing strategies and timing to get attention
- Clear values of everyone that ensure greed doesn't destroy everything
- Fairness from day 1. No large pre-mine. No dev fee. No chance of exit scam.
Technically, cloning this project is easy. Copy and deploy the contract, copy and deploy the website. But there are dozens of previous clones and few cross 100ETH without getting dumped. Nearly all of the clones so far have had devs owning the majority of the total supply, which is then used for a coordinated massive dump on unsuspecting buyers. We do not endorse any clones and strongly encourage caution.
In summary, P3D is a unique community, greater than the sum of its parts, that had the advantage of great dev team, clear vision, good timing/luck, community trust, and broad attention. While this could be theoretically re-created by a clone, this would be incredibly difficult to achieve.
Who were the "Ambassadors" to this project that bought in early?
Before the contract and project were launched, there were 24 individuals identified as "Ambassadors" to the project that provided feedback, audited code or otherwise contributed to the successful launch. These 24 people had the opportunity to purchase up to 1ETH each before the contract was launched.
80% of these ambassadors have sold now and P3D will not be having an ambassador system in quite the same way for future releases. Note that only these 24 addresses were given early access to P3D and anti-whale protections were in-place that prevented any wallet from purchasing more than 1eth during the early launch window.
But I'm at a loss so far or I'm not making enough money here!
P3D is a game and like every game, a game has rules and risks as well as winners and losers. This particular game is a test of will and patience hence the title "Proof of Weak Hands". Those with strong hands will win while those with weak hands will lose. That's the fundamental premise of this game. If that is not a game you'd like to play, you may want to avoid investing in P3D or any other cryptocurrencies. This is not a way to get rich quick, instead this is about creating a sustainable and steady income stream over time.
To understand how the game works, you need to be able to calculate average daily return on investment over time. For example, count up how much you've made in dividends, for a particular 24 hours and then also for the past 7 days. You can calculate your daily return of investment by taking the ETH amount of dividends you earned in 24 hours and dividing that by the total amount of ETH you invested i.e
(divvies in 24h / total invested eth) * 100 == % daily return (not including compounding if you reinvest). Generally speaking, this is the zone of 0.25-1.5% on a given day for most players.
Let's try an example. Suppose, you've purchased 10ETH of P3D tokens total in the game (let's call this your principal). You now receive the seemingly small amount of 0.05-0.15ETH on a given day and calculated you receive about 0.7ETH of dividends in the past week. Take
(0.7 / 10) * 100 to determine you've made about 7% over 7 days or an average daily ROI of 1%. This means that in a given month, you might receive an average of ~30% of your principal in passive ETH rewards (or 3 ETH every month). If volume remains in the same ballpark on average, this would generate you 360% of your principal every year (36 ETH).
Take a look at this basic P3D earnings projections spreadsheet plugging in information to that worksheet from the "Daily Dividends" tab on PoWH3D.eu to determine simple projected monthly and yearly ROI estimates. Keep in mind, this doesn't factor in compound re-investment and also that dividends are based entirely on transaction volume (buys/sells/trades) coming into the system (https://powh3d.eu/charts).
That all said, please understand that this game has the potential to provide you free passive Ethereum rewards over time at about 10-30% of your principal each month which you can then choose to reinvest for additional tokens (compound rewards) or withdraw to do with what you will. There are a lot of factors so no one can predict exactly what they make and the dividends will naturally vary each day. Always remember that there are no guarantees of dividends in this system. The dividends are entirely dependent on transaction volume. Please clearly understand the risks of any game before participating.
What skill-sets are needed to develop a project like P3D?
To design, develop and deploy a successful Ethereum DApp project (Decentralized Application) such as P3D requires a wide-range of skill-sets and technologies between the contributing team members:
- Product Lead - All projects require a project lead (or leads) that have a clear vision of a product they want to see developed. This involves an understanding of a project (or game) that at its core is interesting, innovative and worthy of attention. None of the technology matters unless there's a project worth building.
- Visual Designers - The development of innovative projects also requires a clear brand and visual style. In the case of some projects, this is high-quality logos, color schemes, visual flair, and graphics. In the case of P3D, this also means the development of cool memes and illustrations. A great product often requires a great design in order to achieve its goals.
- Solidity Smart Contract Engineers (Solidity) - At the heart of P3D is an exchange that can accept Ethereum and provide P3D tokens, selling tokens for Ethereum, and allowing the withdrawal or reinvestment of rewards. This functionality is powered by an underlying smart-contract deployed to the Ethereum blockchain. Smart contracts on the Ethereum network are developed with a special language called Solidity. The code for this contract can be found on the blockchain through Etherscan.
You can see a visual illustration of the Ethereum dapp stack here:
If you are interested in learning about Solidity or DApps, we recommend you start with CryptoZombies which is a great interactive tutorial which teaches you to code Ethereum DApps through building your own game. You can also check out this excellent tutorial on Web3.js and Solidity for more learning.
How can I tip the creators of this P3D project?
Tip the creators, buy with their masternodes!
- Mantso's masternode (click here if u love the code)
- PonziBot's masternode (click here if u love snek)
- Inventor's masternode (click here if u love inventions)
- ARitz Cracker's masternode (click here if u love bots)
- sumpunk's masternode (click here if u love mobile)
Buying with someone's masternode is POWH3D way of tipping them for their help. Learn more about masternodes here.