Topic: [ANN] (DAM) Datamine Network - FLUX: Time is Money 2.0 - DeFi DApp - page 7. (Read 6010 times)

Wondering why Mr Potato (and others) shows up on this tiny little coin. With all the technical knowledge he shows.
Which coin / project are you coming from?
Or did you have a issues with DAM Devs?
Very strange your attendance...
It's kind to stand up for the people (not that I have to feeling that's the reason why you are here
So no worries, most of us are grown up.
We can live with our risk decision. Even if DAM should be a pozi.
Thank you and have a good life.

I'm not Dev and have no connection to the team in any way. I merit the post of another person and you think I'm the Dev? Anyway ...

This project is all on-chain, so everything is there for everyone to see. The source code is there too, there was about a month of beta testing, and nothing is hidden. It's more transparent than most companies. I only compare so you can get an idea of the time delay. Everyone compares coins or tokens to the stock market even though maybe it shouldn't, that's just the way crypto is.

As for your math, I'm no good at it, but not everyone will want to buy FLUX to burn it, and everyone who sells it is so that someone else can burn it. It goes around. There will be more FLUX as time goes on, the market dictates the price. Eventually there will be an equilibrium reached. It started at zero or close to it.

No one is forced to buy anything, there was no ICO (and the previous coin where it swapped from also had no ICO.)

No rational investor for that matter would ever invest in any crypto as the whole category is high risk, from BTC to ETH all the way down to Z.

Have a nice day Mr. Potato!

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.

When extra tokens are burned, this usually has a positive effect on the project and there is no oversupply of tokens, which can depreciate if there are too many of them. This approach is always appreciated by projects and investors.

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. 

The USDC values are available in real time on the dash board. Graphics are never updated unless you want some sort of ticker thing or a non stop movie. You should look at the date and time of the post. Stock quotes on many websites are usually delayed by at least 15 minutes too.

came back to say please dont buy in it.
This will devalue faster then you make in ROI and this forever.
If you got any brain dont buy in.

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

Evidence: https://bitcointalksearch.org/topic/m.46412025

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.

Where is the actual use case aside from this burning strategy?
Burning alone will not give the results that you are aiming for this project.
Many projects tried to showcase that burning technique will give them good value in exchanges.
But it's not, you need to find solid application in the market.
Otherwise, this will be another dead project soon.

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?

Where does FLUX value come from?

The value of FLUX originates from borrowing a portion of the worldwide dividend mint rate when burning FLUX.

Our dual token protocol rewards users for destroying FLUX tokens from circulation to create a dynamic market equilibrium using realtime on-chain supply and demand.

FLUX is simply a measure of time that can be transacted to reduce global inflation and increase dividend rates. Dividend rates can be increased by buying time.

You can swap your FLUX on uniswap or sell it to someone else who needs to burn it for the reward system. 

Lmao imagine being such salty. I think we can live without your $20 dude...,
everything is said if you dont understand it how to help you?

Thats more DAM for me..

I must've touched a sensitive point with my doubts. Wow the lack of sensitivity to help potential investors that have no knowledge of these things really says a lot about you. clearly not deserving of my money or other people.

I'll make sure to spread the word on telegram channels, how you help people understand your project!