Q: Is this a real thing?
A: Yes, POWHCoins are an ERC20 standard token built on the ethereum blockchain that you can sell on this site. They have no value outside of engaging in the POWH game with our Math Robot though and you should not consider them a real investment.
Q: Who Made This?
The original concept for the Contract was created by Dr. Jochen Hoenicke a brilliant guy who develops the Trezor Firmware and the Bitcoin Mempool statistics Viewer. We kinda hope he buys in.
Q: Wasn't there something similar to this earlier?
A: Yes there were a few "Doubling Scheme" Ponzicoin sites. These worked on a different algorithm that doubled the price of each coin every 100 tokens that were purchased, and only let you sell out for 1/4th of the token value. Both times these coins were run they only lasted a few hours before the Devs Exit-scammed with them, or the contract crashed because everyone cashed out.
Q: How do we know you guys won't do the same thing?
A: Different contract, You should read it; the math is pretty cool and is designed to initially spike, then crash, then spike and crash and continually make dividends for anyone with IRON HANDS and let short term / weak handed players trick themselves
How does this work? Can I actually cash out?
A: When you buy POWHCoins, you are paying ether into the PonziCoin's Smart Contract balance, think of it like an ether bank account with a fancy robot attached to it. Whenever you wish to cash out, the robot (smart contract) will pay you the ether you are owed out of its balance.
Q: Can I actually make ETH off of this?
A: Yes! I would rather you assume you won't though.
Q: What do I need to buy into this Ponzi Scheme?
A: You need to install Metamask and also need to buy some Ether (ETH), probably from something like Coinbase.
Q: This seems like a great investment opportunity! I need to get back all the money I lost in BitConnect, so can I put my entire pension fund/college fund/retirement savings/second home mortgage in?
A: No, this is a joke foremost and secondarily a toy that only has as much value as the fun you get out of it (and the fun you get out of other players).
Q: Is this a scam?
A: Yes, More accurately this is a game where you put cryptocurrency into trying to trick, fake out, or scam everyone else out of their cryptocurrency. Any value you deposit into this smart contract should purely be placed because you enjoy the concept and social experiment and wish to participate. For better or worse.
Q: Is this site secure?
A: All transactions are handled through the Ethereum network, Metamask and Our insane blockchain gambling smart-contract. Do not use this site if you do not trust these systems. Our bet is on Metamask taking your money.
Q: This seems to be too good to be true, how am I getting screwed?
A: It's a literal pyramid scheme on a rollercoaster. The price can fluccuate upwards and downwards extremely quickly depending on who cashes in/out of the contract. The dividends design encourages more and more players to hold over longer periods of time and should naturally push the price upwards however.
Q: Are there any other coins that pay dividends like this?
A: Yeah lots actually, Kucoin Sharesand Coss are big name exchange tokens that pay out a percentage of all fees taken from trading on the platform. Not to mention the actually-the-definition-of-a-ponzi "Refer friends and get their fees" schemes on Binance/Kucoins
Q: Is this coin pre-mined?
A: No, Nor are there any loops in the code that allow us to take ETH out of the contract in any ways that you yourself are not capable of.
Q: So this won't suddenly dissapear overnight with everything i put in it?
A: The Smart-Contract will not vanish, the website can have anything happen to it at any time which may affect your ability to withdraw or manage your coins through the GUI interface it provides. On the Purchasing page we plan to provide a handy guide of how you can withdraw dividends and tokens without the GUI; so you can save a copy locally.
