GY6 Hard start and SLOW acceleration (pics)  By  sailorcolin (Read 5,569 times)

Water can creep its way into an engine if the bike isn't covered but since your blowing smoke then there's either (A) water in the oil or (B) bad piston rings but since its white I'd say water. With the valve cover off does it smell like gas? I've seen several bikes that have had a bad petcock and it just floods the engine so that could be a factor too. Just drain the oil and throw in a new spark plug and you should be fine.

Does your scoot have many miles?

I suspect that the smoke is the result of bad piston rings, which causes "Blow by" in the cylinder and that the pressure from the crankcase goes out through the vent tube. If you remove the dipstick when it's ideling it should come smoke there too.
It can also leak oil through the valve seats...

The oil that comes up through the vent tube is discolored. But I haven't seen it being as white as it in your picture before...
If it's water in the oil you'll see that when you change the oil. It will be "light brownish-white" and not black which is normal...

As long as you have that smoke coming through the vent tube the engine will feel slow and without power.
It's not getting air as it should, it's sucking in that fume through the carb.