To confirm your explanation of this:  Rank 10 is because you've been such a frequent participant in the server that the bot managing ranks has  promoted you to the highest-participating rank.   The "Marketing" distinction is one you received because you asked to be more involved in Bulwark's marketing.  For the sake of clarity: do you have any administrative privileges within the DATAMINE server?

I'll keep sniffing around the margins.  This entire project stinks.  Stinky stink is what the current odor is.  I hope it improves. I'd love to see whatever necromantic magic that's attempting to revive the fetid corpse of a failed shitcoin to actually succeed.  Could you imagine how promising of a model this would be going forward?  There are SO MANY failed shitcoins.  If "they" manage to convert this one into a successful ERC-777 token, imagine the market opportunities moving forward.  There are multitudinous suckers to bag with heavy burdens to carry forward into perpetuity........


I was happy to inform the devs their coin didn't pass the sniff test in a more private forum. They banned me for it.  So, no.  I won't leave.  Neither you, nor any other respondent, has managed to assuage my concerns that FLUX's primary mechanism of burn N FLUX and get N+X FLUX in return is deflationary.  

Since my initial post, FLUX's value has fallen from $16.69 to $5.42.  That's nearly a 70% decline in about 55 hours.  Maybe my primary critique of the project has merit?  If you disagree, perhaps you believe the current price of FLUX is advantageous to your long-term financial best interests and buying would be a prudent choice?  Put your money where your mouth is.  Got an ETH address you'd be willing to demonstrate ownership of, and then demonstrate purchasing FLUX with?

DAM has fallen 20%, from ~$.17 to ~$.14.   I expect this trend to continue.  As more BWK bagholders become disillusioned with the prospects of succeeding with this project, they'll likely dump out.  FLUX's only use case currently is to.. burn FLUX for more FLUX.  DAM's only use case is to get FLUX, so there's not really a reason for DAM to onboard more users unless they enter with the intent to sell FLUX


So is hanging around and making sure my concerns are addressed (or not).  I won't just go away because you're nice (you are and I like you and appreciate you for that).  I'll leave once someone offers a reasonable economic explanation for how the FLUX burn mechanism (FLUX's only know use case, currently) is beneficial to the economics of this project.  I also laugh, out loud, at the assertion that there's some underlying demand for people to want to hold FLUX.  That's the most absurd, obtuse, outright developer-obsequious notion to be suggested in the better part of the last few years.  I've got a few Crypto "bridges" to sell, if you're interested in buying.  

I don't have a beef against you either, but am just trying to clarify things.

You're not part of the old team, but you're labeled as  "Marketing" in the Bulwark discord.  That seems to be an "official" position?  There are other folks who are "rank 10" that aren't tagged with "Marketing".  I never said you received any portion of the BWK pre-mine (Hodl4Jesus didn't either, as far as I know, but they're absolutely the dev of the "new BWK").

How can you be not part of the team but officially part of their marketing apparatus?  Plenty of people stuck around just as long as you and aren't labeled as "Marketing". 

In your own words, DAM is the new BWK.  How can you be a part of the BWK marketing apparatus, but somehow be disassociated from DAM? 

It just doesn't pass the sniff test.

You're part of the BWK team (you're "Marketing" according to your Discord tag).   Or was that just for Bulwark?  Please don't be deceptive.  

Here's you saying that DAM is the new BWK and that "it's like a rebrand".    

Here's a direct link for anyone in the BWK discord:  https://discord.com/channels/374271866308919296/374271866308919298/710569922534703205

Here's a link to the BWK discord: https://discord.me/bulwarkcrypto

(I've also created a few videos of the search in case, somehow, the message in question  "disappears").

So far no one has addressed how a burn N to get N+X mechanism is inherently price deflationary.  There’s not going to be a problem with FLUX liquidity because in a month supply will be higher and the price will be lower.  The only use case FLUX has is to burn it to create more FLUX.  That’s the primary and only current purpose for it.  

There are a lot of scams in crypto.  There are a lot of HYIP/ponzis in crypto.

Your inability to actually get to the meat of this issue while instead just wildly flailing your arms and calling me names isn’t going to help address these fundamental concerns.  I’m an old head in the game, too, been around for a few market cycles.  Attempting to resurrect a shitcoin through swap to keep the community is an old trick.  But remember, all those people have bags to sell and they want to recover their losses.

Their stack of DAM produce FLUX, which they’ll try to sell to recover their losses.  The sell pressure on this project will be heavy, heavy, heavy.

Any Canadian users harmed by this blatant scam can file complaints here: https://www.services.rcmp-grc.gc.ca/chooser-eng.html?ipeReferer=CAFCFRS

I elected not to swap my BWK because I didn't want to forward the expense of my mistake onto others.  I don't blame all of the BWK bagholders for wanting to recover their losses - it's rational - I'm just tired of seeing how many bad projects pop up in the space as giant cash grabs.  There's plenty of public statements from the DAM team (Hodl4Jesus, Dabs, Neuromaniac) claiming that this is the new Bulwark. 

To date, no one has bothered to rebut any of my initial concerns related to how the core mechanism of FLUX (burn N flux to get N+X flux) is inherently deflationary.  Since yesterday, the price of FLUX has fallen by ~50%.  There's nothing about this project that is "money" or a "savings account". 

The phrase "savings account" implies a return on capital or at least preserved capital along with CDIC insurance automatically insuring deposits.

Don't use deceptive language to shill your shitcoin and maybe I won't be as persistent in calling this scam what it is.

 

I REALLY, REALLY hope you’re not a US citizen because - wow.  

FLUX isn’t money.  It’s a cryptocurrency.  There’s a difference. Legally, it’s property, not currency.  Anyone based in the US trading this will be subject to IRS rules on property and not money.  

You’ve also only reiterated that the existing use case of FLUX is to serve as a ponzi mechanism.  Burn flux to borrow the global mint tate?  Aka: burn FLUX now to get MORE FLUX later.

What did Bernie Madoff tell his “investors”?  Give me money now to get more money later.  You’re saying buy some FLUX now to get more FLUX later and you’re calling it money and you’re calling it a dividend.  If you don’t appreciate the weight of your claims I’m sure some plaintiffs attorneys will when they subpoena Discord for your details.

PH is an early BWK bagholder (he operated “nodes”, so at least 10k+ BWK).  He’s probably trying to recover catastrophic losses from failing to exit in time. 

You haven't tried to explain anything.  So far nobody has posted a response to my questions. 


You're comparing a minted ERC token with a mineable PIVX clone.  I'm not even sure what you mean by "more intelligent infrastructure".   The devs basically tried to create an ERC "savings account" that yields a "dividend".
 I'm not assaulting their intent.  I'm not worried if they're trying to do their best or not.  Lots of good people try their best and it still leads to catastrophe.


So your position is that the totality of the inherent value of this project is in the dashboard and the ER contract and that the underlying assets have absolutely no value?  We're in agreement!

2 people isn't a "big workforce". 

Your behavior is highly coincidental. 


This is unequivocally a shitcoin with a developer team Hobbled together from Bulwark bag holders trying to save themselves from the catastrophic losses of their poor decision making.


I presumed you were making the Store of Value argument.  You implied people would want to buy this for some reason other to burn it, implying some intrinsic value.  I mean - if this isn’t a store of value and people aren’t buying it to burn, then why would they buy it?


That Discord was a lot more private than this thread. 



This is exactly the reason I’m here.  I had over 20k Bulwark I didn’t swap because this was a clear cash grab and I didn’t want to be involved in dumping my bags in some revived shitcoin form.


Spoiler alert:  I turn out to be right.  There is no tech. FLUX has no use case.  It’s literally a ponzi.  So much so I’ve reported it to the SEC.

So.  You don't have anything to say to rebut what my main points are.  Good news.


I got banned for asking tough questions; I tried to address this in a less-public place and got banned.  It was clear that constructive suggestions and challenging conversations were not welcome, which is a hallmark of scam projects.  So, to that extent, you're right.  I got banned from the Discord for asking the exact questions I'm asking here.  So far nobody has answered them.  You're welcome to.



Right.  A random "Newbie" account that's a few years old and hasn't commented much in BTC talk at all just shows up in THIS specific shitcoin thread and then Merits deceiving advertising collateral.  Sure, "dev", you're TOTALLY not related at all.  Just a huge coincidence.  I'm sure. Of course. 

Also, notice how you failed to address any of my concerns other than to suggest that people will want to buy FLUX to... hold?  As though one of the other stated use cases is a store of value?  Give me a break man.  This is a two-tiered ponzi.


I'll say it again:  I tried to bring these concerns up in a private setting, hoping for discourse and the opportunity to contribute thought-work to the project and was banned for the effort.  So, yeah, I'm going to alert others to the very transparent concern this project should create in anyone doing due-diligence.

The word "invest" implies an expected return.  In the context of DAM, the "investment" is in a DAM token which "returns" FLUX tokens.  Sounds cool.  However, the only purpose of FLUX tokens is to be burned. So the real measurement of return will be return on capital (in the form of ETH, likely, or maybe USD).  Let's do a thought experiment.

Let's say you've got 1,000,000 DAM and are earning .01 FLUX every 15 seconds.  Then you have all the multipliers except the 10x burn so now you're at .03 FLUX every 15 seconds.

But you're soooo close to that 10x multiplier, so you buy some FLUX to burn it.  Great - what's your reward?  You get back MORE flux than you burned.  

You bought the FLUX to burn with ETH.  For ease of explanation, let's say you paid .05 ETH for 1 FLUX to put you over the 9x burned / wallet balance ratio.  Burning this 1 flux nets you an extra .27 FLUX every 15 seconds, so soon you've got 5 extra flux to sell to recover your .05 ETH.  But you're profit seeking, and probably want to at least double your returns.  This is Crypto, after all, and you're interested in a 200% return for about 10 minutes of work.    So you sell your 5 FLUX at .03 ETH each for a total of .15 ETH, recovering the initial buy in plus a tidy 200% gain.

The guy who bought one your 1 FLUX at .03 each for .03 ETH similarly has 1,000,000 DAM and are minting .03 every 15 seconds.   Soon he's got 5 FLUX to sell to recover his .03 ETH.  He's also profit motivated, but not unreasonable, and similarly wants a 200% return for a few minutes of work.  So he prices his 5 FLUX at .018 ETH/each and they sell.  He makes a 200% return and the cycle continues.

This is the inherent deflationary mechanism in the burn to print model.  No rational investor, who is seeking return on capital, is going to buy FLUX to burn it expecting a loss.  The only people burning FLUX are doing so because they expect a return.  The return won't be in FLUX, but in the base currency (ETH) in this case.

Comparing this to a stock quote is ripe.  Stocks are derivatives of businesses that have revenue and viable models.  They're also subject to robust oversight.  This project has none of those features.

Dev - you're outing yourself.  Never merit your own posts with a second account, really gives you away. 

Apply your own advice to BWK 3.0 AKA Datamine. (DAM).  "seeing this shit come alive is hilarious, even idiots on twitter all over it hahaha, trying to shill those bags to noobs"

Give it a break.  "This shit is dead so move on."

You're not even a credible long-term crypto head.  Your personal benefit bias is dripping SO THICK that anyone with a brain should be incredulous.

ANSWER:  Absolutely a legacy Bulwark holder trying to dump his heavy bags on unsuspecting suckers.

Evidence: https://bitcointalk.org/index.php?topic=2499481.msg46412025#msg46412025

Screenshot for posterity:

Request for full disclosure:  are you a former Bulwark bagholder that participated in the swap?

Also, I'm reviewing this info graphic and it has USD values on it.  They are - of course - already out of date.  DAM is currently worth $.17 according to Uniswap (https://uniswap.info/pair/0x447f8d287120b66f39856ae5ceb01512a7a47444) and FLUX is currently worth $16.69 according to Uniswap (https://uniswap.info/pair/0x27fa67302c513f5512bbfa5065800c2d7b3871f4).  Thus, the USD values you've listed on your image are already down by ~20-30%.  It's best practice to have updated and reliable marketing collateral, as to not create false expectations within the market, so you should address this disrepancy.

Interestingly, it seems like someone is wash trading DAM -> ETH - > FLUX via the smart contract.

This transaction is showing up as DAM - ETH on the DAM pair and as FLUX - ETH on the FLUX pair, yet it appears to be DAM -> FLUX swap.  Interesting to see the artificial volume this sort of mechanism creates.  

https://etherscan.io/tx/0x4d9c295f8ccdc61290ce484bf08c62da0de2e3d72c23096480ab172b48dea52d/

Fortunately, because all of this data is stored on the Ethereum blockchain, the data is very easy to mine through.  Datamine.  GET IT?

Yeah.  That's a picture.  So your argument is that the "value" of FLUX comes from destroying it... because destroying FLUX allows the person who destroys it to... create more FLUX?  So, basically, burn X flux and get X+n FLUX back, right?

Buy a little FLUX now to dump lots of FLUX later onto other buyers.  AKA: Ponzi.

If I'm reading this right, the primary purpose of FLUX is to be burned to get the 10x multiplier to get more FLUX?  What are the other use cases for FLUX outside of this?  I understand DAM's use case as being the mechanism that produces FLUX through locking... but that mechanism assumes that FLUX has underlying value or some natural reason that people would want to use / buy it.

Right now you're basically describing a two-tier ponzi system.  Is there something that I'm missing that can be clearly explained?