INTRODUCTION
The purpose of this subsection of the PulseChain Coin Guide is to attempt to answer the difficult question as to whether or not PulseChain is a legitimate project or just another scam. Unfortunately, no definitive answer exists for this question, however, there are factors present weighing on both sides of this debate.
While the contents of this subsection will not give you a definitive answer, let's look at the factors existing at this time. This presentation is made with the intent to present you with all the available information, and let you, the potential investor, reach your own conclusions based thereupon.
FACTORS POINTING TOWARD PULSECHAIN BEING A SCAM PROJECT
- Pulsechain employed a unique pre-launch 'sacrifice period' [where user's effectively burned tokens (such as ETH) that they already owned to be replaced by a greater amount of PLS when PulseChain blockchain finally launches] which effectively operated as a pre-launch sale. This 'sacrifice period' operation is new to the blockchain paradigm and accordingly is suspicious and questionable. The 'sacrifice period' in question ended August 2, 2021, but so far, any investor who 'sacrificed' has received nothing but unspecified 'sacrifice points' as the blockchain as yet has not been launched.
- Terming this pre-launch operation a 'sacrifice' is a mischaracterization. The associated term 'sacrifice' must be questioned in light of the fact the launch is to be at zero value (supposedly so there will be no profit from the work of others) and that it will not consist of a taxable event upon issuance of the revived coins. Where is the 'sacrifice' in this?
- A relatively shady and novel (to blockchain parlance) disclaimer concerning this 'sacrifice period' is presented by PulseChain on it's official website. This disclaimer is set forth below and it is up to you, the potential investor, to determine the weight you wish to place upon it:
You are sacrificing to prove how strong you believe that blockchains are speech and speech is a protected human right. This is an important political statement. You must have no expectation of profit from the work of others. The set of people who have sacrificed to show their commitment to this political statement makes a great set of people to airdrop free things to. This sacrifice points are not meant to have any monetary value. Remember, you're not buying anything, the world is just noticing you are amongst a group of people that sacrificed to make a political statement. Some countries tax their citizens when they receive things of value. PulseChain and all the coins on it are designed to start with no value, which is ideal. Consult your own legal and financial professionals, as nothing written here should be considered professional advice. The only thing we know of set to be airdropped for free to this political group so far is PulseChain (PLS.) If we hear about other cool things, we'll let you know.
[PulseChain. Energy Efficient, Cheaper, Faster, Fee-Burning Ethereum Fork. (Accessed September 24, 2021)].
- With the exception of the sacrifices going to the SENS Organization, a designated charity, it appears that all other sacrifices go directly to the developer, Richard Heart.
FACTORS IN FAVOR OF PULSECHAIN BEING A LEGITIMATE PROJECT
- Before Pulsechain, the developer, RICHARD HEART was the developer of the Hex Blockchain project. Controversy surrounded the Hex project as Heart had the potential to make and take a lion's share of the 'claimant bonuses' through his potential access to Hex's 'origin address'. [Parenthetically, Richard Heart has been quoted as saying with a chuckle: "Whoever holds the keys to the origin address is going to be happy,”]. However, it appears that the Hex project has apparently withstood the test of time and has resulted in looking like a rather decent project.
- Based on the foregoing, will the same activity (regarding Heart and the Hex claimant bonuses) carry forward to PulseChain relative to Heart and the sacrifice monies? It is too soon to say and only time will tell. (But time, as of yet, has not erased the Red Flag in this instance).
CONCLUSION
As stated at the onset of this subsection, the relevant and available information has been presented to you relative to the legitimacy of the PulseChain project. It is now up to you, the potential investor, to digest this information, do your own diligent research on the topic, and reach your own conclusion as to whether or not PulseChain is a legitimate project or a scam.
Any time red flags appear in discussions concerning a potential investment, it is highly recommended that you proceed with extreme caution and full knowledge prior to making an actual investment. This is for your own protection. Good luck.