Ethereum

Richard

Cryptocurrency

Cardano

Sleep

<p>Richard Heart, the founder of PulseChain, <a href="https://x.com/RichardHeartWin/status/1736987561430491142?s=20" target="_blank" rel="noopener noreferrer nofollow">proposed</a> an idea today that seemed too good to be true – running a bot that gives away free PLS tokens to anyone who bridges assets over from Ethereum.</p>
<p>On the surface, the idea of getting free crypto just for transferring assets seems enticing. But a closer look raises some serious questions about the proposal.</p>
<p>For starters, where would the PLS come from to fund this supposed bot? Heart didn’t provide any details on source of funds or oversight. With no information on budgets or limits, such a program could inflate the PLS supply rapidly with no controls.</p>
<p>There’s also the concern this is less about helping users and more about pumping up PLS adoption and price through artificial means. Handing out free tokens is an obvious way to increase holdings and transaction volume in the short term. But it does little to create sustainable long term value and use cases for the network.</p>
<p>Many will also wonder what the catch is. With no strings attached, what incentive would exist for the bot’s manager to ever stop the PLS giveaways? And if they did stop, what would that do to the price after it had grown dependent on this artificial stimulus?</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Don’t Sleep on this Explosive Crypto Airdrop!&nbsp; <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>Install the <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Getgrass" href="https://captainaltcoin.com/go/getgrass/" data-shortcode="true"><strong>GetGrass extension</strong></a> ASAP – the more points you score, the bigger your free crypto payoff! This red-hot airdrop could set you up for the future, but only if you <strong><a href="https://captainaltcoin.com/go/getgrass/" target="_blank" rel="noopener noreferrer nofollow">take action</a></strong> right now!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>Until far more specifics are provided, financial regulators would likely view such a program with deep skepticism. Cryptocurrency is already prone to bias and manipulation – a mysterious third party bankrolling unlimited free token distributions raises major red flags.</p>
<p>Rather than relying on shadowy bots, PulseChain’s success depends on real users finding it a useful platform and store of value on its own merits. While getting more assets on chain is a reasonable goal, Heart and the PulseChain team would do well to pursue that through open competition and organic growth, not opaque promotional gimmicks.</p>
<p>This story raises more questions than answers. Cryptocurrency supporters would be wise to withhold excitement until Heart provides a transparent, responsible plan for any so-called “PLS bot.” So far, the proposal seems most focused on pumping short term numbers, not building sustainable long term value.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/why-is-astar-astr-price-up-by-48-traders-cash-in-on-this-major-exchange-listing/" target="_blank" rel="noopener noreferrer nofollow">Why is Astar (ASTR) Price Up By 48%? Traders Cash In On This Major Exchange Listing</a></li>
 <li><a href="https://captainaltcoin.com/is-bitcoin-heading-to-38k-analyst-shares-insights-on-why-btc-is-at-a-crucial-level/" target="_blank" rel="noopener noreferrer nofollow">Is Bitcoin Heading to $38K? Analyst Shares Insights On Why BTC Is at a Crucial Level</a></li>
 <li><a href="https://captainaltcoin.com/cryptocurrency-watchlist-for-the-week-focusing-on-cardano-ada-and-rebel-satoshi/" target="_blank" rel="noopener noreferrer nofollow">Cryptocurrency Watchlist for the Week: Focusing on Cardano (ADA) and Rebel Satoshi</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/free-lunch-or-pump-scheme-ethereum-users-beware-of-richard-hearts-pls-bot-trust-issues/" rel="noopener noreferrer nofollow">Free Lunch or Pump Scheme? Ethereum Users Beware of Richard Heart’s PLS Bot Trust Issues</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Free Lunch or Pump Scheme? Ethereum Users Beware of Richard Heart’s PLS Bot Trust Issues

Table of Contents

CaptainAltcoin

Other articles published on Dec 19, 2023

Court prevents DCG from altering Genesis ownership

Pro-XRP Lawyer Sparks XRP Price Debate With Short-Term VS. Long-Term Analysis

Grayscale CEO Sees $30 Trillion Boost Upon Bitcoin ETF Approval

Bitcoin’s Ascent: Major Airline Company to Add BTC as Payment Method

BONK, INJ, SOL, and ICP Surge: Santiment’s Trending List

Metaverse Firm Improbable Points to Several Positive Indicators for 2024

Join our free newsletter for daily crypto updates!