POWH Review

Hey you, welcome back to the channel. Hey guys, today we're gonna review, uh, the Proof of Weak Hands coin. Um, now, uh, if you haven't heard of Proof of Weak Hands, uh, this appears to be a, a, uh, basically a self-proclaimed pyramid. Uh, kind of reminds you of like the— a lot of multi-level marketing type things that happen. Um, and in fact, it's called the Smart Pyramid Ecosystem. So, you know, this— they're basically just coming out and, and being transparent, uh, about being a pyramid in the cryptocurrency space. Um, you— a lot of you probably, you know, are familiar with the BitConnect platform that, you know, has recently caused a hoopla of problems in the cryptocurrency space. People are seeking some type of restitution from investing in that coin that, you know, they're saying was this pyramid high-yield investment program type thing. And so left a bad taste in a lot of people's mouths. And so this is almost seeming, coming like a almost like it seems— sounds like a parody of BitConnect. Uh, but the weird thing about it, the strange thing about it, is that, uh, whereas a lot of people, you know, kind of came into this mentally thinking it was a joke, uh, or something like that, it's not a joke. It's very serious. But not only is it serious, uh, they seem to, uh, you know, are saying that they've fixed the problem in these type of structures like this. Now, I just wanna, you know, straight off say, you know, right off the bat that although this does follow a similar format to like what you got with BitConnect with a lot of YouTubers who would go out and promote it and it does have a referral link, I won't be promoting or using a referral link. This will just be a review. Of the coin like any other coin, uh, and we'll talk about basically what it says. I just find it very interesting because it does mention ideas like basic income, uh, structures and models. I find that kind of interesting. Um, uh, that's been something that's been on a lot of people's minds and a lot of topics that deal with should everyone receive a basic income, and if you were to give everyone a basic income, how would it work? But this coin talks about, um, uh, or is basically paid out in Ethereum. It's like 10% of all the trading volume over cryptocurrency, uh, is set aside for token holders. That's on every buy, that's on every sell, um, and, uh, the price is then brought back down by when people sell them, brought up when people buy them. Um, now 00:07:07. You know, some mathematicians have come in and came up with ideas like, well, you know, if you're doing that, you're going to pretty much end up with the same amount. The first person in is going to pretty much end up with the same amount of money that— if I'm saying this correctly, please don't hold me to it or, you know, or quote what I'm saying. But, uh, the first person that comes in, if they were to hold to the very end, I think they would go out with the same amount of money or something to that effect. And I'm not sure how that, how that math works, I've, you know, after looking around, I found, you know, different things like that. So just gonna try to give a balanced review of what I'm reading and what I'm seeing. And, you know, just let y'all know that, you know, this is a review, it's not a promotion. So if you do decide that you want to get involved in a coin like Proof of Weak Hands, please do your own due diligence and, you know, and make sure that It is an investment you can lose and something that you've done your own personal research on. Again, I won't be promoting it, telling you to buy any of it. I have bought some because I'm just a gambler that way. I'm a risk taker. But anytime I buy into something like this, I go in, I would go into something like this and I would definitely use disposable income. Now, that being said, Proof of Weak Hands does raise some very interesting concepts and ideas. One of which being, like I said earlier, the basic income model, this profit sharing program where everybody involved benefits some type of way and they get a kickback in these dividends that can be either taken out or reinvested. Everything is exchanged into Ethereum. And so, you know, if you're like me, if you're really into big profit sharing where you feel like everybody should— contribution should be paid off, this might be of interest to you. Now, this is also interesting what it says here. It says withdraw whenever you'd like. Now, we know with the BitConnect model, you couldn't do that. You had to hold the tokens for a lot of coins, and tokens make you hold the coins because that's required to keep people from selling out too quick and causing the coin to crash. Looks like with this, you're free to do that whenever you like, and it's completely decentralized. And the idea being, of course, whenever you sell, the price of the token drops. But although it drops, the 10% of the fees associated with it, money being made, is gonna be going back into the coin, right? So kind of like even in losing, you're kind of winning, I guess. And, you know, Just very interesting. I like to experiment with economies and coins, so this is interesting to me just to see what will happen. So it looks like what it says here is there's a 10% exchange fee that's given only to token holders. So everybody who's holding tokens is going to collect these dividends. I've seen daily dividends paid into my account. Looks like that could be exchanged for Ethereum here, and that's all very, you know, very interesting. Um, so very interesting to see. Uh, I know right off people are wondering who's promoting this. Is this connected to Big Connect some kind of way? It looks like there are members of Big Connect who are promoting this or looking into this. And, uh, you know, I don't know, but I can only say that, uh, you know, um, that The idea behind this is that it's totally decentralized, so you couldn't have a situation with like BitConnect. It's an Ethereum smart contract, so you're able to look at the contract and basically there's not like a centralized group able to push this and do these various things that you'll be able to do this. The team that's involved with this, I don't know, they look like nice people, for whatever that's worth. But I find it very interesting. Sure, I'll throw some money at it. Again, anybody who's looking at something like this, do your due diligence because what seemed to happen with BitConnect was, from what I could see, I never invested in BitConnect, but From what I could see, that people were buying in and they were understanding BitConnect. And then as soon as everything hit the fan, they start obviously going, they've been misled by an investment and that they were duped, right? So that's generally how it is. That's generally how it happens. So from my standpoint, always be careful. Just do all the research you can. If there's something that you're able to lose, if you want to get involved with this, I can tell you right off, if my investment that I made in this, if it all disappeared tomorrow, wouldn't be a problem for me. Now, this is another thing similar to what we've seen with BitConnect platforms. And the reason I keep mentioning BitConnect is they have this kind of model quote up here on their site that says, They're doing everything BitConnect claimed they were doing, right? So it says that this entirely new dimension to trading had users averaging between 5% to 2% daily returns with last week's volume. I haven't factored my returns yet. There are some returns there. They might be right in line with what they're saying here. I just haven't looked. They do seem to be giving back some type of returns and things like that. But yeah, that seems similar to what we got with those type of platforms. Now, where a lot of these things go south is you go, okay, you're putting money in, you're getting interest off of this money, and people coming in, they're putting new money in, and the idea would be that the new money's paying the interest of the old users. And so then it starts to feel like just this Ponzi, uh, Ponzi-type scheme situation, right? But, um, what seems to be part of the plan here, uh, from what I'm reading— let me see if I can get to some other areas of, of what they're talking about here. Um, you know, I'll go to just look— what seems to be part of the plan is they're going to be building games and applications, I believe, on the platform. You know, like how with BitConnect they were going to be doing, you know, a variation of things. Well, and the idea of this is to substantiate the value of the coin, to actually give it value so people aren't just putting money in where the new money's, you know, creating the interest and creating the— in other words, you're just trading money to just be trading it. But with this, these applications will substantiate the value of the coin. Now, this is part of why I don't know what these— it says here, the world's first smart pyramid. This is why with this, I would have felt a little bit better had they already had these applications working. I'm not sure if they have some working yet or not besides this, but I think it would have worked a lot better if they had a lot of these applications they're talking about already built. On top of this, and things like that. A working concept already of many of these things. That way it doesn't just feel like this deliberate pyramid punzy type situation. But they're transparent, I guess, about it. They're saying this is what it is. And so, I mean, does that take away any type of responsibility for creation of a type of pyramid? Probably not. But if it's decentralized, yes, it would be very difficult to try to shut this down some type of way or regulate it, sort of like what happened with the BitConnect situation. Personally, again, I won't be dropping links for this, even though I could drop links, and I'm sure a lot of people will make a lot of money promoting this, getting a large portion of earnings, and the new money comes in, which is what fuels a lot of these systems. I won't be doing that. I will be dropping links to coins like Solar. And the reason I'll be dropping links to coins like Solar is because Solar has a very concrete plan, I believe, where they take ad revenue and these ad revenues build, you know, build up the value of the coin over time. Same thing with Miko's Coin, which is my own coin. It was based on a model of ad revenue to generate substantiate value of a coin by the users and the ad money going back into the coin. So I will drop two links for those particular coins that don't promote buying of coins really so much. It's just about— it promotes the core of how social media for the most part has generated money, and that's through advertisers, right? A lot of people don't like that model, but it's been a model that's worked well. It's grown companies to hundreds of billions of dollars. So I would say that that's a pretty sturdy model and one that I don't feel is broke yet, and I don't think it would need fixing. But maybe Proof of Weak Hands could incorporate ideas like that, advertise it into it. There are various applications that are going to be built on it. It's something quite interesting to look at, to see, and I'm curious to see what happens. And again, this review is about a new coin with a new concept, a new idea. Well, not so much a new in the idea that it's decentralized. It's not a condemnation of these type structures. But so, again, do your own due diligence. I'm interested in it. Quite intriguing to me to, you know, to see what's going to happen with this coin. And, you know, that's pretty much all I want to say right now about Proof of Weak Hands. I'm going to see what happens with the funds I've put in. If nothing happens with them, that's fine. I'm not going to I'm not going to worry about it, but I see that there's 2,361, you know, Ethereum contracts, you know, that have, you know, been, you know, purchased here, and it seems to be rising every day. I was looking on here the other day, I think it was like 1,800, and so there's definitely people putting quite a bit of money in here. I'm starting to see it being promoted. And you're probably gonna see a lot more people. I don't know, this might kind of come across as a promotion. But if it does come across as a promotion, I'm not making any money from it. But anyway, guys, that's all I want to say about Proof of Weekends. A very interesting coin. If it could create a basic income model for people, I would love to see that. I would finally love to see a system that finds a way to, uh, grow money and distribute it, and it be a well distribution or good distribution, um, uh, situation across the network. Just about everybody so far has failed to do that. The probably the only coin I have hope in that might be able to do that now was SOLA, and its trading volume at this point is terrible. So I'm hoping SOLA gets to a major exchange. And I'm also hoping Sola starts to really pick up, you know, with this display of ads and ad revenues, as I haven't seen any of the ads as of yet. But obviously the plan is to start running them if they haven't started to show on my, on my pages. But anyway, guys, that's all I want to say right now about Proof of Weekends. Let me all know what you all think about Proof of Weekends. Do you think it's BitConnect coming back in another form to get your Do you think it's, uh, something totally different that's finding a way to better distribute money and, uh, create a more sustainable situation in the cryptocurrency space? Guys, if you like content like this, don't forget to like and subscribe. And until next time, take care.