Post
Topic
Board Altcoin Discussion
Re: Proof of Weak Hands explained [P3D]
by
kmkfan628
on 29/03/2018, 11:14:28 UTC
eh i fucked up when i initially read the contract i looked specifically at the initial price and incremental price and when i first checked it out the numbers are so similar that i wrote down .0000001 for both and didnt even realize i missed the extra zero in the incremental number.

either way doesn't change the scummy nature of this coin and the attention that it has attracted from straight up crooks..... even with a purpose to produce passive income as you stated, that's not the whole picture. its creating passive income by taking the money directly from people who come later than you. if your only good at ripping people off then this is the thing for you! because it doesn't appreciate based on having any actual value, it goes up because of a line of code. in the real market individuals do not have the ability to force a change in the price with their buys and sells, all you can do is ask for a price and if someone else feels its a good deal they buy it. with it not being useful or tradeable for anything other than getting a fraction of your ether back it means that people will have to sell eventually and its always the ones who sell first who get out before it collapses. there is still no case for why the devs and the "ambassadors" should enjoy 10,000% interest, and others should take massive losses when hoping for marginal gains. the people this is targeting are for the most part ignorant of many of the scummiest aspects of this token and being straight up taken advantage of for wanting to get rich quick. this is the same thing bitconnect did... targeted advertising to people who don't fully understand what it is or why its a scam. its just taking from one person and giving it to another for no reason other than greed.

its all good when people are still putting in new money to keep this afloat, but when those 2% and 3%'s go to sell 20,000 tokens at a time the price will tank to a point where any dividends are negligible and you are only able to get back a small percentage of what you put in.

like i said before some people are just lazy crooks and feel like they should be able to take peoples money and get away with it. and to incentivize people to lose their money you offer a negligible dividend and call it "passive income". but because of the way it works the people getting in now have to put in 100,000 to get the same amount of power that someone bought in with 500 bucks in the beginning. the early adopters here are not paving the way for a new platform or technology, they are not developing anything which will change people lives for the better. the whole thing is deceiving and hard to grasp for most people. this is just preying on the FOMO of other people and giving the crypto community's reputation yet another black eye.

everyone should ask themselves what is the motivation behind this token? is it bettering blockchain tech and making it faster? is it facilitating miropayments in africa? does it offer anything of value to the people who buy in? no, the only thing it offers is huge profits for the ambassadors by taking from the ill informed. IT IS A LIE TO PORTRAY THIS AS PRODUCING PASSIVE INCOME FOR ANYONE OTHER THAN THE AMBASSADORS, everyone else WILL lose money. either they will just lose their 20% or they will lose all the value of the tokens they bought and have a small amount of eth to console their losses. when you tell people "look over here you made a few dollars in ETH today as dividends!!" then the price collapses because the big and early guys have gotten out and what someone paid 10,000 for is now worth 500 bucks, thats a scam. the dividends have always been negligible and more of a ploy than a real passive income. lets not forget that you have to make back the 20% you lost for buying in first to ever realize any kind of profit, and as with every ponzi its all about timing and once people start to get out for real everyone else will be stuck holding worthless tokens. some people dont mind that they are ripping off other people i guess but it doesnt make it any less wrong.