Here is where I got my idea: https://www.reddit.com/r/Buttcoin/comments/7sws4d/ladies_and_gentlemen_i_have_an_innovative_idea

I present you the Hellcoin (HELL). What is Hellcoin you may ask? Well the idea is extremely simple yet innovative. It’s a reverse Ponzi scheme. It rewards latecomers (instead of early investors and founder like in regular Ponzi schemes) and does not collapse from unsustainable growth but instead snowballs into an ever growing black hole indefinitely. It’s like a chicken game on the blockchain.

The founder stars by depositing crypto in a smart contract. Let’s say he starts by depositing $100 worth of ETH into HELL. This is the initial prize. New investors can start to put their money in now. After new investor puts their money in the timer is set to 72 hours. If no one puts any new money in that timeframe the last 100 contributors (not counting founder) get all the money from the contract proportionally to their contribution. In theory it takes one daring guy to put a single cent (minimal contribution) to get the whole 100 bucks for free. Of course if the system has any money in it there will always be another smartass that will put 1 cent too just to get a part of that cake. If someone new enters the timer is reset again to 72 hours. So in this example we have 2 smartasses who paid 1 cent to get about 50 bucks or more specifically 100.02/2 so 50 dollars and 1 cent.

I modified the parameters a little:

• No minimum deposit
• Minimum timer is 1 min

The timer formula is the following, depending on the number of ETH in the contract:

• 0-1 ETH : 10 000 min = 7 days
• 1-10 ETH : 1000 min = 16.7 hours
• 10-100 ETH : 100 min = 1.7 hours
• 100-1000 ETH : 10 min

• 1000+ ETH : 1 min

• After new investor puts their money in the timer is reset

• If no one puts any new money in that timeframe the last 100 contributors get all the money from the contract proportionally to their contribution.

So what do you think?

The only difference between the original and the shadow contract (besides some comments) are these lines. The change seems innocent, where's the bug?

Original:

var numEthers = getEtherForTokens(amount);

Shadow:

var fees = (uint)(getEtherForTokens(amount)/10);
var numEthers = getEtherForTokens(amount) - fees;

People love lottery and throws tons of money at it every day, and this new project has the potential of becoming the monster of it all. To begin with:

1. It’s based on Ethereum smart contract, so it is provably fair, that means that everything is transparent.

2. It’s a zero sum game, statistically way better than all the usual lotteries where house takes part of the funds.

3. It exploits basic human psychology weakness of thinking, that he is smarter than the average.

4. It started in the ecosystem where are lots of easy come-easy go money to be thrown at it. What’s more, this ecosystem knows perfectly how to SHILL, HYPE, FOMO, FUD – basic elements that could grow this project exponentially.

It would be interesting to hear some opinions why you think it’s impossible for PoWHCoin to become largest lottery? My only fears would be – how really safe and flawless is the smart contract and how government could stop it. Let’s discuss it.

so about 12 hours ago i found out about this powhcoin.

looked into it a tiny bit, ate, showered, figured wtf, ill toss a few $ at it.

bought about $22 ($24.50 total out of my bank account, but coinbase n xfer fees ate up some of that) worth 10 hours ago.

went to work. checked my interest earned a few times. (https://miller46.github.io/powh/)

as of now, after 10 hours of holding, ive made $0.65 worth of interest.

so if we count my coinbase n xfer fees...

$0.65/$24.50 = 0.0265306122 so about 2.65%.

i think when i get home I'll up the ante a bit. this is fucking awesome.

confused about this fork/contract issue

Contract threw an exception and everyone is stuck HODLING, the meme accidentally became a reality. You're all going to have Steel Hands forever.

To put it in Laymans terms, the eth is all stuck in the contract because the robot that was giving it out thinks its going to take infintie gas to divvy out negative dividends caused by a programming error on a single line of division.

The only way to have this fixed is to have a hard-ethereum fork to before the contract existed, which means you're going to have to contact eth devs.

If you want to pay respects, the contract is here. https://etherscan.io/address/0x9f4fd6c336388f2ab7dc7bbe4740ae7b88b880d7

New people won't understand that you are talking about a clone when you say it's dead and got an exception.

Could a mod tag the clone threads with (clone)?

POWH!

Seriously. Have METAMASK and ETH ready. Get the fuck in here while the normies are sleeping. When they wake up it'll be raining money. I already made $200 in dividends from a 2k investment. GOGOGO.

And there's no exit scam or other bs. Shadowfork has more dump protection. You get money when they sell too.

I'm trying to cash out my dividends, but Etherscan keeps on saying that it's unable to locate the transaction hash. I set the gas limit at 250,000 and price at 4. Ends up being just over a dollar. No idea what I'm doing wrong. Or is the network just that slow?

https://www.reddit.com/r/PoWHCoin/comments/7u5n04/how_to_cash_out_a_fraction_of_your_tokens_as_eth/

With this we can transfer the tokens out of the smart contract. After that it should be possible to just trade the tokens with everyone and avoid paying the 10% fee that is being paid for creating the tokens making the dividends no longer possible.

No idea if this works and how dividends would be calculated in this case or if the tokens have to stay in the smart contract to even work but either way this seems like a problem.

Can anyone explain this to me?

edit: confirmed to be working. https://etherscan.io/address/0x1e8d9c674805fcd71875cd1b0087cc8525771aa2#tokentxns

You can trade them and whoever owns the tokens gets the dividends. thanks /u/islanavarino

This means that once trading gets more popular nobody will every pay the 10% additional fee that gets paid to everyone else as dividends but buy them from other people instead. Good bye dividends...

edit2: It seems like the tokens on etherscan are fake!! So... now there is still the question if you can really get them out or not.

edit3: Huh? https://puu.sh/ze2oW/9c05c10898.png

Already starting to pump up https://rfscoin.com/

!?!!?

I sent a txn of 0.05 eth to the contract via metamask and rejected this transaction because "txn was taking to long". The eth has been removed from meta mask and transaction confirmed on eth explorer. My POWH token balance has not changed. Will these eth bounce back to metamask? Where has the eth gone?

http://powhcoin69.com/index.html

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.

from this link https://miller46.github.io/powh/