Pyramids aren't built in a day.

Anyone long enough in the tooth to remember the Beatles break-up or the death of Elvis may also have been around to witness the infamous Institute of Directors speech by Gerald Ratner. Also affectionately known at the prawn sarnie speech, the then CEO and heir apparent of British jewellery company – the Ratners Group – wiped off $700 million of value and caused the near collapse of his father’s company with a single speech; one highlight was: “we even sell a pair of earrings for under a pound, which is cheaper than a shrimp sandwich from Marks and Spencer, but probably wouldn’t last as long.”

Fast-forward a few decades from 1984 to today and who can we count on for similar acts of corporate hara-kiri? At least the Ratner effect of the current decade acts with tongue in cheek I say – please welcome to the stage: the PoWH coin.

Following the runaway success of Bitcoin and friends, such as Ethereum and Ripple, a swell of imitators has entered the fray. The latest is the PoWH coin, (PowH stands for “Proof of Weak Hands”) which promotes itself as “The World’s First Autonomous and Self-Sustaining Pyramid Scheme”.

The website goes on: “Welcome to PoWH, a coin that Pumps and Dumps Itself. No Exit Strategy. No Contract Crash. Forever.” The bottom of the coin’s website features the disclaimer: “Please Note: This is not an investment or security, any and all tokens sent to the automatic mathematical gambling robot are purely for your own pleasure in participating in this absolutely insane social experiment.”

So far over $650,000 has been “invested” and coins come with a free t-shirt.

No-one would argue it’s a bull market right now; in the markets and in farcicality.