What the hell is it?
Proof of Weak Hands is a smart contract built on the Ethereum platform. Its that simple
What is the point of it?
The idea of POWH3D is owning the token gives you dividends. Out of every purchase 10% of the initial ETH is taken and redistributed to the current token holders as a dividend. The same thing happens when anyone sells, 10% is taken from the sale and given to token holders. So once you have invested your ETH in, any transactions made in the contract generates dividends for all the token holders, which you get a share of!
For every token that is purchased from the contract, the cost goes up by about 10 GWEI. For every token sold, it goes down the same. So slowly as more people buy in the price of each token increases. If people sell then the price of the token is reduced.
Wait, hold on, when I buy OR sell P3D I lose 10%? - YEP, but....
That is where the Proof Of Weak Hands concept comes in to play. You pay a premium to get into POWH3D and a premium to get out. These premiums fund the Dividends. Therefore token holders are incentivized to HOLD and get paid over time.
Interested in trying it out for yourself? If you don't already have Metamask get it here - https://metamask.io/
and then take a look for yourself!