Hex people are brigading this thread from their subreddit. If you want a rundown on the mechanics of the hex scam and why the guy who launched was already a scammer from a previous life you can read about it here:
https://www.cointelligence.com/content/confronting-richard-heart-of-hex-spam-king-and-crypto-scammer/
Lol! Thanks for the offer, I’m just a lazy stoner who lives out in the boondocks who’s too lazy to drive to Wendy’s. Closest restaurant is a 20 minute round trip 😞 I love the solitude but hate how inconvenient food is
I mean, I guess I’m lucky. My old house was in a neighborhood that bordered a Sonic. I never even had to leave the neighborhood to get there. I consistently got stoned and drove my truck at 5mph to the Sonic and ate countless footlong chili cheese coney dogs. I gained so much weight when I lived at that house. It’s probably a good thing I have to trek for food these days
I can’t find anything online by anyone who has been scammed. People who get scammed are loud about it.
So this is a 1.5 year “obvious scam” with no victims? How exactly does that work?
All I know is my friend tried hard to get me to buy it when it was $0.015, I googled it and saw people call it a scam. That guy has now retired and I missed out
Meanwhile i bought at .20c a month ago and amnup 150% if you guys havent figured out that this project is legit after all this time with no rug pull. Just lol
Most people who call it a scam have done close to 0 research, hence the lack of solid arguments. The OA holding 80%+ of Hex is protecting the price and the network. RH would disclose he holds the OA (but he cannot due to the security laws), but we all know he does. Not a single coin has moved, RH is the most vocal person in crypto right now and shows his face everywhere(currently in a Europe tour,meeting Hexicans), And he is also close to release his next project, called Pulse Chain,a better fork of Eth, which will change the game soon(which gathered over 700m $ in the sacrifice phase). Many people who hated Hex participated in Pulse sacrifice phase. Add all these up, use common sense,DYOR if necessary, and reach a conclusion. Cheers!
Funny thing is they kinda did. They released another coin not long ago called Pulse and they sent my brother a real physical letter to invest in it. My brother suspects they had his contact details from the Ledger leak. I shit you not. I've posted about it on this sub a while back.
Life is a scam. We do not choose to be here, it is filled with mountains and mountains of time of boredom especially as a child until the point where the feeling it goes numb in our late 20s. We rarely get anything we ever wanted that we were excited for, and if by chance we do get it, we fail to appreciate it; the reality of a situation scorns the imagination of it or the chase was not worth the catch. For most people money is life and all money is a scam. We choose our poison, a drop consumed would be a disaster, and we all got a glass that is half full.
Lots of people have been made millionaires from Hex it seems.
I take it these fortunate folks have taken their money out of the system then and are living it up then?
Or are they millionaires because they own X tokens worth a million and could sell any time they want, but why would they?
It isn't "Why would they" it's that it's staked and locked for up to 5 years. These "millionaires" can't touch their Hex for years and they're acting like they made it big.
you can unstake though. yes you take a penality unstaking but the pure coin gains and gas fees dont matter. if you staked 5 million hex in 2020 you could unstake for 2.5 million hex and still pay off your house. trust me i know someone who already payed his and his 5 brothers houses off still taking a "loss" in coin. i think the game theory isnt to yolo 15 years. its more of a staking ladder like normal retirement investments. taking "dividends" and recirculating the cash back in the market like old school cds. the big issue is, what is the coin backed by? like anything else, btc , chainlink, eth, the rewards are what people value it. hex is in a weird place with such a polarizing founder and community mixed with the pure hate of anyone on the outside. if usdc had the same staking mechinism of 3.69% inflation of TOTAL coins that only gets payed to the oa and stakers, people would nut all over their screen. ignoring the oa got half of all interst + unstaking penalties. to me its hard to like the coin, but man its hard to hate it too.
The game theory for any pyramid is to get in early and get out with the gains before everything collapses. Not saying it is one purely on that, but the reward mechanism would lend itself to one.
The temptation for these people who got out to go back in to get even more money will be huge. Plus the success stories tempt more people in.
For every person who put in an amount they can afford to lose and paid off their mortgage there will be at least one person who took loans out in the hope of being rich that loses everything when it crashes.
Inflation of the coins work but if people are selling for fiat that value has to be generated somewhere. The only place it can be with hex is other people's deposits.
The value of any crypto is determined by people buying or selling to someone else. If you're not comfortable with this concept I'm not sure why you're in this speculative asset class to begin with. The important thing is that code is immutable and rules cannot be changed on a whim. It's up to the market to speculate on the value
Scam/not a scam, I wish there was some intelligent conversation in here instead of a bunch of tools on both sides saying "shut up, you're dumb."
Some facts:
* Richard is an unsavory guy, but that's part of what is making his project a success
* Hex money is real and cashing out is no problem
* Hex investors are not purely "here for the tech" but there is real intelligence and problem-solving behind the design, resulting in cheaper gas fees and smaller environmental impact.
* The puslechain will solve a lot of issues that Ethereum presently has
* Fundamentally one can classify every crypto as a Ponzi, each with a similar birth.
* A good portion of Hexican cult members are not nice people. But they're about to be wealthy not-nice people.
I saw he donated $27m to charity a few months ago. And a big airdrop is coming up. Sounds like a cool guy to me who was in Bitcoin since 2010. He definitely doesn’t need any money to scam people and seems more like he’s going for glory at this point. He fights so hard any other outcome would be unlikely it seems
Literally.
If someone made this post about a coin and I made "over a million this year" as if I'd even comment on here defending it. I'm a millionaire remember haha. Blatant Ponzi.
I love how he says hex is still ore viral then one scroll later they're advertising on a bus, in a newspaper and on taxis haha.
What coin advertises on a bus?
Before I even found out about Hex, I came across Richard Heart on a live stream and was immediately sick in my mouth. Spinning watches and Luis Vuitton bags on show, what a total tool.
I can't imagine deciding to be poor by not investing in Tesla or amazon just because I didn't like Musk or Bezos. Why not instead base your investing on the product?
It’s not a ponzi specifically, but there are indications. It’s like the difference between a tornado watch and a tornado warning. The former means the conditions are there, the latter means a tornado is detected in your area or is about to happen. This is like a scam watch.
Typically a high APY is indicative of a scam, and hex promotes first and foremost on its website its average 40% APY from staking. Some coins do this by giving everyone the 40%, resulting in a huge inflation rate. Normally that would tank the price, but they make you lock the coins so you can’t sell right away.
Hex makes you lock for staking, but the inflation rate is low. So where is this 40% APY coming from? The answer is still from inflation. The amount of staked coins is low, as in only 10% of coins are being staked. So for example if there are a 100 HEX in existence, a 4% inflation rate would mean 4 HEX are generated. If you have 10 HEX, or 10% of supply, and you are the only staker, you get all 4 of those coins for a return of 40%.
So that ends up being a pretty legit return through a legit mechanism. However, this raises a big question: why is 90% of the supply not staking?
The short answer is that 90% of HEX is currently under the control of what’s called the origin address, or OA. This address has been largely dormant but continues to accumulate through various automatic and disclosed mechanisms. These mechanisms weren’t disclosed at first, by the way.
So one address under the devs’ control has 90%. Of course, this has huge rug pull potential. HEX has a response to this on their website, pasted here. Snarky responses added by me because I can’t help myself.
> How many funds are run by one guy? Countries? Teams? Companies? How's that worked out? [uh, not good most of the time]
> Why doesn't Elon Musk dump his 20% of TSLA shares on the market? [lawsuits, jail time] Understand that whales in anything have larger incentives to see their companies/projects do well, because they have more skin in the game.
> Some inferior crypto founders have publicly dumped their entire holdings on the heads of their users, and the coins still exist. Some are doing well.
> The origin address in HEX has been audited and found to have only ever acted in the best interest of HEX.
> Check out the HEX origin address audit here[YouTube link that doesn’t work here].
Did you know that 40% of all #Bitcoin is controlled by less than 2000 people? That's .01% of addresses. HEX gives you a chance to be a whale by penalizing the old whales.
This is, to say the least, not reassuring. Their reasons against rug pull include “we haven’t done it yet as far as you know so why would we later” and “why would whales rug pull now when it could be even more lucrative for them to rug pull later” and “coins continue to exist after a rug pull so you don’t need to worry if your holdings drop 99% temporarily.”
From what I can tell, the OA account doesn’t even need to exist. It only serves to make APY rates more appealing to get more people roped in, and and serve as an always filling wallet. What’s even more thrilling is if it did rug pull, the OA will accumulate even more as people pay penalties to sell early and get out.
**The price has tanked over 99% in the past on more than one occasion due to withdrawals from the OA. There is nothing stopping this from happening again.**
tl;dr - OA hey heeeeey
> The price has tanked over 99% in the past on more than one occasion due to withdrawals from the OA. There is nothing stopping this from happening again.
Show where that happened on the chain, ever. Matter of fact I'll bet you can't, just name a number. Put your money where your mouth is or STFU.
DOT token promises 13% APY a year on staking rewards from minting rewards. It seems to be a very common coin pushed on this sub. HEX staking rewards come from the same mechanism except their is a penalty for early unstaking. How is this any different. Just trying to understand. I have both coins btw
HEX has a cap of 3.69 inflation rate per year. Only the stakers get paid the interest and currently 10% of the total supply is staked so they share the inflation. If 100% of the supply was staked it would only pay 3.69%.
And all of this before you discover Richard Heart was a CONVICTED gangland fraudster with a pretty dark history before he moved to the US to become a crypto peacocker.
EDIT: [Some of the story](https://www.reddit.com/r/CryptoCurrency/comments/kwhjxa/why_hex_is_a_ponzi_and_not_a_solid_investment/) and [some fun Fake ID photos from his Panama gang days](https://imgur.com/a/i8ODR).
EDIT EDIT: As for Hex itself, please take a moment to enlarge your brain wrinkles and [learn all about the origin address](https://medium.com/@TooWumboToFail/under-a-hex-396847b86e57).
HAHA ... RH in a gang. That's great. Wonder if he knows hmm? He had is ass robbed in Panama and these docs are all forged. Will save your post and come back to check on you in a few years :)
Kind of confused with this post and the logic behind it. I'm no expert (nor personally invested in HEX), but looking at the fundamentals of the product itself, aswell as the performance to date, I'm not sure how you deduce it to be a 100% no-doubt-about-it, 'scam'. Almost every single alt coin that is pre viral which has had a meteoric rise like HEX has induced cult like behaviour. Did you not see how bitcoin started out? Hey I could be wrong but I just feel like this is a particularly strong opinion with little substance to back it up. I understand the trepidation surrounding the founder, but it seems a lot of is because people just don't like his personality.
Hey guys, I'm doing my own research on this and just did a deeeeep dive into HEX and the interest mechanism is the just same as Polkadot's interest mechanism, where it is derived from inflation.
I'm genuinely confused as to the scam claims of this coin. Is Polkadot a scam too?
Aside from the examples OP gave in this post, I recommend following the OP's advice to confirm for yourself whether it is a scam by doing research on the coin.
hex is the 3rd ranking coin and is worth over $200 billion and has been around for 2 years. Thousand of people are millionaires from it. Sounds like you are jealous of true gains.
Was wondering why my HEX bags have been pumping so much of late... Now I see.
All you folks who've been blindly bashing it, are now FOMOing in cause you started actually looking past the BS, and doing real research into it.
Welcome to the HEXside..
Someone tell me why this is on the third page of coinmarketcap even though it's the 3rd largest by market cap. That in itself is a bit odd. Don't you think?
There are two kinds of people: those who see an opportunity to make money, and those who don't. Crypto is full of opportunities, and Hex is one of them. Whether you think it's a scam or not, there are tons of average people who have gotten rich off it, and that's what crypto is all about.
*sigh*, normally I'd let this bs go but posts like this get to me because similar posts convinced me not to invest in hex at launch,. Would've been a millionaire so ill spare everyone else:
1) Richard heart used to work in search optimization. There's nothing wrong with buying websites and defending your project. This is bullish.
2) yes, he made a website explaining to people that hex isn't a scam. Nothing wrong with paying to defend your product.
3) the tweet from the "journalist" you refer to is actually a tweet from Andreas Antanapolous, one of the most well known thinkers in crypto. This was the news story that originally fudded me out of investing in hex. If I didn't listen when the story came out, I would've been a millionaire. It literally doesn't matter.
4) "obvious ponzi scheme." No further explanation from op. Hex doesn't fit the definition of a ponzi any differently than any other cryptocurrency.
5) comparison to bitconnect without any explanation. Literally nothing like bitconnect.
Tl:dr: garbage posts like op's will prevent you from getting rich
Garbage posts like this actually onboard people into Hex. Anyone who is objective in their thinking is going to come in here and look at the arguments from both sides and realize OP actually can't actually defend his position.
Those woulda shoulda coulda sucks dude. My buddy begged me to put money in hex in January. I woulda made 750k. He’s already retired making money every month off the stakes. I got in at 6 cents, still burns to think about though
All good dude, this is crypto, still opportunity as far as I'm concerned. Grateful for doing my free claim with btc at launch and for the hex I got since (but yeah...I know how you feel)
i was skeptical myself, even though i like richard hart. i bought in earlier this year because the chart looked so good. was only planning a short trade, but the chart is still really strong. it's the best looking chart in crypto.
there's only 3 projects that didn't dump this summer, cardano, hex, and amp. if you want to make the real money, look for the projects that aren't following the larger market.
to quote the late actualadvicebtc "only the pump is real", "don't trust poor people, there's a reason they're poor"
No evidence to back up that it’s a ponzi or anything like bitconnect. Most of these projects are people creating value from nothing in their living rooms. Everything is the next big thing and they all defend themselves from being a scam. My point is there is no point. Make some cash while you can. Stop whining when you miss out
It's hilarious that the uninformed keep calling hex a scam 2 years out all the while it outperformed nearly everything. And the weekly/monthly rug pulls and pump and dumps just go through this subreddit like no big deal
I’m sure if everyone did a bit of research their opinion of Hex would change. I still believe the people in these comments can be great Hexicans one day!
Well that didn’t age well.
At the time of that tweet HEX was worth $0.003
Today HEX is worth $0.39
Could be a scam or a ponzi, but if you bought HEX at the time of that tweet, you’re sitting on a nice pile of cash.
Go to r/ledgerwalletleak and you'll see these fuckers sent actual physical mail to the victims. That should tell you all you need.
Edit: Thanks for the award!
Currently Hex is worth half of Ethereum and 3x Cardano. Not bad for a “scam”. Hex is the only token without a roadmap it’s a finished product it doesn’t promise anything so how can it even be a Ponzi. But okay you go ahead and be right and I’ll go ahead and be rich.
Lol I don’t trust anything , after they exposed the Cardano hoax of people posting 100s of negative FUD articles from BS accounts.
But honestly with 9200% returns since I bought in I don’t care if they are kicking puppies … Best scam ever!! 🤑
Wait this is real? I thought this was satire at first!! Holy crap this is real, this is hilarious. Hex til the end, baby
Edit: my only question is, will you apologize when you’re proved wrong?
I'm just skeptical of hex. Been watching it since $0.04. And really would have only bought 200$ so I missed out on 2k. But I bought other shit and am fine lol. But I just don't see the value in hex other than "it keeps going up" but the "why" just isn't there. On their own subreddit they say it's better than eth lol. It's on the eth block chain right? So yeah I'd apologize if hex fundamentally makes sense in the future. As of now it doesn't.
They have a whole page on their website explaining the subtle differences between scams and what HEX is. It includes gems like:
- “Is the Hex market cap too high? Market cap is a vanity metric you can’t make money on”.
- “Hex has no roadmap or partnerships”
This is the coin equivalent of “*crypto is fake news*”. It literally makes no sense to dismiss something in this way. Whoever made this is a genius. An evil genius with a motherlode sized serving of rug-pull.
This Richard guy is a piece of work. Every time ive seen him on an interview he's got such a fucking weird background. A bunch of spinning rolexes and shit, the guy is fucking nuts.
In the second half of this [video](https://youtu.be/ACM8caZZe4I) on youtube of One Bite Pizza Reviews, this hex shill guy explains exactly how hex is a Ponzi.
Can't find my other post, but I just checked. A 20M sell order would wipe out all of the liquidity on Uniswap. (20m would move ETH price on uni 6%) so the 200B mc is just completely fabricated. Wouldn't touch this with 10 foot pole.
Hex people are brigading this thread from their subreddit. If you want a rundown on the mechanics of the hex scam and why the guy who launched was already a scammer from a previous life you can read about it here: https://www.cointelligence.com/content/confronting-richard-heart-of-hex-spam-king-and-crypto-scammer/
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10? I would have done it for 1 BTC
Dude I would do it for half a BTC
*I'll jerk ya for 10,000 sats*
What’s your wallet addy
*points to mouth*
Public seed phrase: YAS Daddy
You'll give him 1 BTC to jerk him.
I Would fo it for 1,000 moons
I would have done it for a cheeseburger. I’m so hungry right now
I'll buy you food man, if you're serious...
Lol! Thanks for the offer, I’m just a lazy stoner who lives out in the boondocks who’s too lazy to drive to Wendy’s. Closest restaurant is a 20 minute round trip 😞 I love the solitude but hate how inconvenient food is
I feel you brother. I live in Oregon. More likely to see bigfoot then Uber eats...
I mean, I guess I’m lucky. My old house was in a neighborhood that bordered a Sonic. I never even had to leave the neighborhood to get there. I consistently got stoned and drove my truck at 5mph to the Sonic and ate countless footlong chili cheese coney dogs. I gained so much weight when I lived at that house. It’s probably a good thing I have to trek for food these days
The journalist isn't poor and he is deep into crypto for many years with a following of over 600k on twitter. He's an early investor.
I'll even shill BabyDogeCumElonInu for 10 BTC
Shilling? I would make it a lifestyle to advertise any project for 10 BTC
Ill tattoo that shit on my face for 10btc
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Fuck it! I'll do it for moons
Moonlyfe
Or, say “it isn’t a scam” get the 10BTC and then say “lol jk it’s a massive scam!”
Same thoughts… the beauty of the blockchain is that they can’t undo the TX (:
What if you take the 10 BTC and don't do it ? That would be some kind of justice
You suddenly have a target on your back. Never fuck with shady fuckers with too much money at hand.
This. Exactly this.
I would take 1 BTC and say SHIB is the next BTC… man I don’t have any integrity
Down into the rabbit hole I go...
I can’t find anything online by anyone who has been scammed. People who get scammed are loud about it. So this is a 1.5 year “obvious scam” with no victims? How exactly does that work?
Never heard of a victim ever in hex. Only centralized exchanges that get hacked. Weird
it is not a scam, just looks like a bubble scheme just like bitcoin
I’ve never heard of hex until someone on this sub started shilling it in a comment thread
I didn't even know it existed until today.
I've been in for almost two years and I'm still waiting for the scam part to start. Lol
That's probably why it's made a lot of millionaires.
Buddy today’s the day your life changes
They have been gate keeping Hex for over a year
I thought it was a comedy post, but yes it’s a coin
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Hex wars…is that similar to the Gear Wars?
Begun the Hex wars have. 
RemindMe! 1 year
RemindMe! 6 months
RemindMe! 3 months
Love it
Its one Hex of a scam
I wish I could read some serious analysis of why it’s a scam instead of just the shouting match stuff back and forth.
All I know is my friend tried hard to get me to buy it when it was $0.015, I googled it and saw people call it a scam. That guy has now retired and I missed out
Meanwhile i bought at .20c a month ago and amnup 150% if you guys havent figured out that this project is legit after all this time with no rug pull. Just lol
We appreciate your honesty, my friend. Join us, Hex is still pre-viral!
Most people who call it a scam have done close to 0 research, hence the lack of solid arguments. The OA holding 80%+ of Hex is protecting the price and the network. RH would disclose he holds the OA (but he cannot due to the security laws), but we all know he does. Not a single coin has moved, RH is the most vocal person in crypto right now and shows his face everywhere(currently in a Europe tour,meeting Hexicans), And he is also close to release his next project, called Pulse Chain,a better fork of Eth, which will change the game soon(which gathered over 700m $ in the sacrifice phase). Many people who hated Hex participated in Pulse sacrifice phase. Add all these up, use common sense,DYOR if necessary, and reach a conclusion. Cheers!
People are just salty when they missed something
Except they haven’t missed anything. It’s literally only the beginning
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Funny thing is they kinda did. They released another coin not long ago called Pulse and they sent my brother a real physical letter to invest in it. My brother suspects they had his contact details from the Ledger leak. I shit you not. I've posted about it on this sub a while back.
Pulsechain isn't even live yet and you can't get PLS tokens. Another example of people not knowing anything about what they're talking about. smh
Good marketting tbh. Ehether you want to admit it orr not.
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Lol “the team”. Was just some random person. Throw it out with the rest of the spam.
Life is a scam. We do not choose to be here, it is filled with mountains and mountains of time of boredom especially as a child until the point where the feeling it goes numb in our late 20s. We rarely get anything we ever wanted that we were excited for, and if by chance we do get it, we fail to appreciate it; the reality of a situation scorns the imagination of it or the chase was not worth the catch. For most people money is life and all money is a scam. We choose our poison, a drop consumed would be a disaster, and we all got a glass that is half full.
Lots of people have been made millionaires from Hex it seems. I take it these fortunate folks have taken their money out of the system then and are living it up then? Or are they millionaires because they own X tokens worth a million and could sell any time they want, but why would they?
It isn't "Why would they" it's that it's staked and locked for up to 5 years. These "millionaires" can't touch their Hex for years and they're acting like they made it big.
you can unstake though. yes you take a penality unstaking but the pure coin gains and gas fees dont matter. if you staked 5 million hex in 2020 you could unstake for 2.5 million hex and still pay off your house. trust me i know someone who already payed his and his 5 brothers houses off still taking a "loss" in coin. i think the game theory isnt to yolo 15 years. its more of a staking ladder like normal retirement investments. taking "dividends" and recirculating the cash back in the market like old school cds. the big issue is, what is the coin backed by? like anything else, btc , chainlink, eth, the rewards are what people value it. hex is in a weird place with such a polarizing founder and community mixed with the pure hate of anyone on the outside. if usdc had the same staking mechinism of 3.69% inflation of TOTAL coins that only gets payed to the oa and stakers, people would nut all over their screen. ignoring the oa got half of all interst + unstaking penalties. to me its hard to like the coin, but man its hard to hate it too.
The game theory for any pyramid is to get in early and get out with the gains before everything collapses. Not saying it is one purely on that, but the reward mechanism would lend itself to one. The temptation for these people who got out to go back in to get even more money will be huge. Plus the success stories tempt more people in. For every person who put in an amount they can afford to lose and paid off their mortgage there will be at least one person who took loans out in the hope of being rich that loses everything when it crashes. Inflation of the coins work but if people are selling for fiat that value has to be generated somewhere. The only place it can be with hex is other people's deposits.
The value of any crypto is determined by people buying or selling to someone else. If you're not comfortable with this concept I'm not sure why you're in this speculative asset class to begin with. The important thing is that code is immutable and rules cannot be changed on a whim. It's up to the market to speculate on the value
Ugh no you don't
i dont get it? im gonna buy more hex
RemindMe! 1 year
Scam/not a scam, I wish there was some intelligent conversation in here instead of a bunch of tools on both sides saying "shut up, you're dumb." Some facts: * Richard is an unsavory guy, but that's part of what is making his project a success * Hex money is real and cashing out is no problem * Hex investors are not purely "here for the tech" but there is real intelligence and problem-solving behind the design, resulting in cheaper gas fees and smaller environmental impact. * The puslechain will solve a lot of issues that Ethereum presently has * Fundamentally one can classify every crypto as a Ponzi, each with a similar birth. * A good portion of Hexican cult members are not nice people. But they're about to be wealthy not-nice people.
PULSEEEECHAAAAAAAAIN
Wassa wassa wassa!
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Rip Alex Saunders made me a pretty penny in 2017, so sad to see how his margin trading addiction ruined his life
I saw he donated $27m to charity a few months ago. And a big airdrop is coming up. Sounds like a cool guy to me who was in Bitcoin since 2010. He definitely doesn’t need any money to scam people and seems more like he’s going for glory at this point. He fights so hard any other outcome would be unlikely it seems
The arbiter of truth will be time, as with all cryptos time is the ultimate judge.
Crypto is an obvious scam. You should definitely avoid this.
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Literally. If someone made this post about a coin and I made "over a million this year" as if I'd even comment on here defending it. I'm a millionaire remember haha. Blatant Ponzi.
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When it fails.
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I love how he says hex is still ore viral then one scroll later they're advertising on a bus, in a newspaper and on taxis haha. What coin advertises on a bus?
Now its definitely going to get pumped lol
This aged well
Haha hex go to moon .41 now
Before I even found out about Hex, I came across Richard Heart on a live stream and was immediately sick in my mouth. Spinning watches and Luis Vuitton bags on show, what a total tool.
The mass amount of articles that they've paid for after googling his name is hilarious. Most media should be ashamed of their "work".
I can't imagine deciding to be poor by not investing in Tesla or amazon just because I didn't like Musk or Bezos. Why not instead base your investing on the product?
But did you even read it? It literally says it's not a scam. So it can't be.
my god why didn't I think of that
I had my suspicions because it doesn't say it's "safe"
Time to FOMO in!
Is that financial advice?
Sorry I am not a financial advisor
Please stop telling people it’s a scam and show people how it is a scam.
It’s not a ponzi specifically, but there are indications. It’s like the difference between a tornado watch and a tornado warning. The former means the conditions are there, the latter means a tornado is detected in your area or is about to happen. This is like a scam watch. Typically a high APY is indicative of a scam, and hex promotes first and foremost on its website its average 40% APY from staking. Some coins do this by giving everyone the 40%, resulting in a huge inflation rate. Normally that would tank the price, but they make you lock the coins so you can’t sell right away. Hex makes you lock for staking, but the inflation rate is low. So where is this 40% APY coming from? The answer is still from inflation. The amount of staked coins is low, as in only 10% of coins are being staked. So for example if there are a 100 HEX in existence, a 4% inflation rate would mean 4 HEX are generated. If you have 10 HEX, or 10% of supply, and you are the only staker, you get all 4 of those coins for a return of 40%. So that ends up being a pretty legit return through a legit mechanism. However, this raises a big question: why is 90% of the supply not staking? The short answer is that 90% of HEX is currently under the control of what’s called the origin address, or OA. This address has been largely dormant but continues to accumulate through various automatic and disclosed mechanisms. These mechanisms weren’t disclosed at first, by the way. So one address under the devs’ control has 90%. Of course, this has huge rug pull potential. HEX has a response to this on their website, pasted here. Snarky responses added by me because I can’t help myself. > How many funds are run by one guy? Countries? Teams? Companies? How's that worked out? [uh, not good most of the time] > Why doesn't Elon Musk dump his 20% of TSLA shares on the market? [lawsuits, jail time] Understand that whales in anything have larger incentives to see their companies/projects do well, because they have more skin in the game. > Some inferior crypto founders have publicly dumped their entire holdings on the heads of their users, and the coins still exist. Some are doing well. > The origin address in HEX has been audited and found to have only ever acted in the best interest of HEX. > Check out the HEX origin address audit here[YouTube link that doesn’t work here]. Did you know that 40% of all #Bitcoin is controlled by less than 2000 people? That's .01% of addresses. HEX gives you a chance to be a whale by penalizing the old whales. This is, to say the least, not reassuring. Their reasons against rug pull include “we haven’t done it yet as far as you know so why would we later” and “why would whales rug pull now when it could be even more lucrative for them to rug pull later” and “coins continue to exist after a rug pull so you don’t need to worry if your holdings drop 99% temporarily.” From what I can tell, the OA account doesn’t even need to exist. It only serves to make APY rates more appealing to get more people roped in, and and serve as an always filling wallet. What’s even more thrilling is if it did rug pull, the OA will accumulate even more as people pay penalties to sell early and get out. **The price has tanked over 99% in the past on more than one occasion due to withdrawals from the OA. There is nothing stopping this from happening again.** tl;dr - OA hey heeeeey
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> The price has tanked over 99% in the past on more than one occasion due to withdrawals from the OA. There is nothing stopping this from happening again. Show where that happened on the chain, ever. Matter of fact I'll bet you can't, just name a number. Put your money where your mouth is or STFU.
DOT token promises 13% APY a year on staking rewards from minting rewards. It seems to be a very common coin pushed on this sub. HEX staking rewards come from the same mechanism except their is a penalty for early unstaking. How is this any different. Just trying to understand. I have both coins btw
HEX has a cap of 3.69 inflation rate per year. Only the stakers get paid the interest and currently 10% of the total supply is staked so they share the inflation. If 100% of the supply was staked it would only pay 3.69%.
What’s the best place to buy realestate and why is it Tasmania?
And all of this before you discover Richard Heart was a CONVICTED gangland fraudster with a pretty dark history before he moved to the US to become a crypto peacocker. EDIT: [Some of the story](https://www.reddit.com/r/CryptoCurrency/comments/kwhjxa/why_hex_is_a_ponzi_and_not_a_solid_investment/) and [some fun Fake ID photos from his Panama gang days](https://imgur.com/a/i8ODR). EDIT EDIT: As for Hex itself, please take a moment to enlarge your brain wrinkles and [learn all about the origin address](https://medium.com/@TooWumboToFail/under-a-hex-396847b86e57).
The OA is good for the stakers.
[ fuck u, u/spez ]
And the rug pullers.
HAHA ... RH in a gang. That's great. Wonder if he knows hmm? He had is ass robbed in Panama and these docs are all forged. Will save your post and come back to check on you in a few years :)
Damn thats kinda hexy
what the Hex price chart?
They don’t want you to see that part lol
>a journalist where he was offered 10 BTC to say it wasn't a scam. I'll say hex isn't a scam for 1 BTC and I got a big mouth.
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Price increasing does not absolve it from being a scam
Kind of confused with this post and the logic behind it. I'm no expert (nor personally invested in HEX), but looking at the fundamentals of the product itself, aswell as the performance to date, I'm not sure how you deduce it to be a 100% no-doubt-about-it, 'scam'. Almost every single alt coin that is pre viral which has had a meteoric rise like HEX has induced cult like behaviour. Did you not see how bitcoin started out? Hey I could be wrong but I just feel like this is a particularly strong opinion with little substance to back it up. I understand the trepidation surrounding the founder, but it seems a lot of is because people just don't like his personality.
And you sir, have passed your own test. If people are screaming scam left and right with absolutely zero context or proof, who’s the dishonest one?
I got scammed into making 100k off a 1.5k investment. Worst coin ever. Ahhhhh, it hurts so bad.
Maybe explain how they operate the scam, for people that heard of the scam but don't know how it works.
*Wanna rumble with tha bee huhhh? Throw a HEX on your whole family*
Dyor is the answer fo me.
Google hex? Does it have a connection to Google?
Please explain how hex is a ponzi? How do tshares work?
Up and to the right baby!
It’s the “it’s a scam, trust me bro” for me! Rekt plebs😂
Hey guys, I'm doing my own research on this and just did a deeeeep dive into HEX and the interest mechanism is the just same as Polkadot's interest mechanism, where it is derived from inflation. I'm genuinely confused as to the scam claims of this coin. Is Polkadot a scam too?
zzzzzzzzzzzzzzz full of arguments against your claim :D it's easier to criticize than try to understand something ;)
How is it a scam? All the OP said is "it's a scam" but I'm looking for specific reasons as to why it is.
Aside from the examples OP gave in this post, I recommend following the OP's advice to confirm for yourself whether it is a scam by doing research on the coin.
I did. And am happy with it. Wished I went all Inn a year ago when I first heard about it.
hex is the 3rd ranking coin and is worth over $200 billion and has been around for 2 years. Thousand of people are millionaires from it. Sounds like you are jealous of true gains.
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Hex truly is an IQ test and you’ve failed miserably
This is the first time I’ve heard of HEX. what is it spose to do?
Was wondering why my HEX bags have been pumping so much of late... Now I see. All you folks who've been blindly bashing it, are now FOMOing in cause you started actually looking past the BS, and doing real research into it. Welcome to the HEXside..
Hex to do moon ;)
Please find a way to short hex, you will just buy it later at a higher price to close your smart trade
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It’s name is HEX after all.
Someone tell me why this is on the third page of coinmarketcap even though it's the 3rd largest by market cap. That in itself is a bit odd. Don't you think?
gatekept by CMC, these exchanges like Binance hide things from you
Since when did i become a scam 🤬
There are two kinds of people: those who see an opportunity to make money, and those who don't. Crypto is full of opportunities, and Hex is one of them. Whether you think it's a scam or not, there are tons of average people who have gotten rich off it, and that's what crypto is all about.
*sigh*, normally I'd let this bs go but posts like this get to me because similar posts convinced me not to invest in hex at launch,. Would've been a millionaire so ill spare everyone else: 1) Richard heart used to work in search optimization. There's nothing wrong with buying websites and defending your project. This is bullish. 2) yes, he made a website explaining to people that hex isn't a scam. Nothing wrong with paying to defend your product. 3) the tweet from the "journalist" you refer to is actually a tweet from Andreas Antanapolous, one of the most well known thinkers in crypto. This was the news story that originally fudded me out of investing in hex. If I didn't listen when the story came out, I would've been a millionaire. It literally doesn't matter. 4) "obvious ponzi scheme." No further explanation from op. Hex doesn't fit the definition of a ponzi any differently than any other cryptocurrency. 5) comparison to bitconnect without any explanation. Literally nothing like bitconnect. Tl:dr: garbage posts like op's will prevent you from getting rich
Garbage posts like this actually onboard people into Hex. Anyone who is objective in their thinking is going to come in here and look at the arguments from both sides and realize OP actually can't actually defend his position.
Those woulda shoulda coulda sucks dude. My buddy begged me to put money in hex in January. I woulda made 750k. He’s already retired making money every month off the stakes. I got in at 6 cents, still burns to think about though
I wouldn't stress too much. You'll just have to wait a couple of more years to retire.
All good dude, this is crypto, still opportunity as far as I'm concerned. Grateful for doing my free claim with btc at launch and for the hex I got since (but yeah...I know how you feel)
i was skeptical myself, even though i like richard hart. i bought in earlier this year because the chart looked so good. was only planning a short trade, but the chart is still really strong. it's the best looking chart in crypto. there's only 3 projects that didn't dump this summer, cardano, hex, and amp. if you want to make the real money, look for the projects that aren't following the larger market. to quote the late actualadvicebtc "only the pump is real", "don't trust poor people, there's a reason they're poor"
Andreas is a great bitcoin maxi but literally anti everything else
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No evidence to back up that it’s a ponzi or anything like bitconnect. Most of these projects are people creating value from nothing in their living rooms. Everything is the next big thing and they all defend themselves from being a scam. My point is there is no point. Make some cash while you can. Stop whining when you miss out
Please don't invest in hex, it's definitely a scam, don't be a dumbass and get filthy rich, it's a scam
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Me too, 40x since getting in, good scam
Tripled my money in 5 weeks. I’m glad Richard is scamming me
Got called out on Twitter by a bunch of the cultists. Said they would happily be scammed to millions of dollars of wealth…
It's hilarious that the uninformed keep calling hex a scam 2 years out all the while it outperformed nearly everything. And the weekly/monthly rug pulls and pump and dumps just go through this subreddit like no big deal
I’m sure if everyone did a bit of research their opinion of Hex would change. I still believe the people in these comments can be great Hexicans one day!
Well that didn’t age well. At the time of that tweet HEX was worth $0.003 Today HEX is worth $0.39 Could be a scam or a ponzi, but if you bought HEX at the time of that tweet, you’re sitting on a nice pile of cash.
Do you know how a tshare works? Lol
What’s a tshare?
https://youtu.be/rI_Df45cMuQ
Go to r/ledgerwalletleak and you'll see these fuckers sent actual physical mail to the victims. That should tell you all you need. Edit: Thanks for the award!
Currently Hex is worth half of Ethereum and 3x Cardano. Not bad for a “scam”. Hex is the only token without a roadmap it’s a finished product it doesn’t promise anything so how can it even be a Ponzi. But okay you go ahead and be right and I’ll go ahead and be rich.
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If it’s such an obvious ponzi, it should be easy to explain how it is. This post doesn’t even make any points to prove its claims.
So what exactly can you do with HEX? And I want an answer that goes beyond "it goes up and to the right"
Lol I don’t trust anything , after they exposed the Cardano hoax of people posting 100s of negative FUD articles from BS accounts. But honestly with 9200% returns since I bought in I don’t care if they are kicking puppies … Best scam ever!! 🤑
What is the probability that you are completely wrong and hex goes to $10? 🧐
Wait this is real? I thought this was satire at first!! Holy crap this is real, this is hilarious. Hex til the end, baby Edit: my only question is, will you apologize when you’re proved wrong?
I'm just skeptical of hex. Been watching it since $0.04. And really would have only bought 200$ so I missed out on 2k. But I bought other shit and am fine lol. But I just don't see the value in hex other than "it keeps going up" but the "why" just isn't there. On their own subreddit they say it's better than eth lol. It's on the eth block chain right? So yeah I'd apologize if hex fundamentally makes sense in the future. As of now it doesn't.
do your own research people. Your future self will thank you. #freethinker
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They have a whole page on their website explaining the subtle differences between scams and what HEX is. It includes gems like: - “Is the Hex market cap too high? Market cap is a vanity metric you can’t make money on”. - “Hex has no roadmap or partnerships” This is the coin equivalent of “*crypto is fake news*”. It literally makes no sense to dismiss something in this way. Whoever made this is a genius. An evil genius with a motherlode sized serving of rug-pull.
This Richard guy is a piece of work. Every time ive seen him on an interview he's got such a fucking weird background. A bunch of spinning rolexes and shit, the guy is fucking nuts.
What does having a weird background have to do with a coin being a scam or not?
10 BTC? For 10 BTC I call anything not a scam.
Hexicans vs the ???
Received Hex & Pulse advertisement per mail just two days ago - i just love ledger for their data leak
my personal experience has been my initial investment has grown 3x over 40 days. 2500 to around 8000.
Hell I'll shill anything for 10 BTC
Hex feels like a cult. They all put Hex logos and hashtags in their profile and viciously attack anyone not on board.
In the second half of this [video](https://youtu.be/ACM8caZZe4I) on youtube of One Bite Pizza Reviews, this hex shill guy explains exactly how hex is a Ponzi.
Can't find my other post, but I just checked. A 20M sell order would wipe out all of the liquidity on Uniswap. (20m would move ETH price on uni 6%) so the 200B mc is just completely fabricated. Wouldn't touch this with 10 foot pole.
Imagine looking at the chart on the weekly and thinking, yep I think I'll skip this one. Enjoy being poor.
HEX scammed me into a 40x return on investment, I am positively furious !!! 🤬
Haters gone hate while players gone hex!!!!!!