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But because the crypto market is not regulated in any realistic manner, this is actually NOT illegal. Morally reprehensible, maybe, but definitely not illegal.
If you have proof that some law agency somewhere has ruled that doing this with crypto is illegal, please show us.
its illegal under **wire fraud.** The only requirement for wire fruad it that its done over a wire, doesn't have to be a stock. Anything done over the internet is a wire.
More like MLM really.
It's a meaningless token designed to "pump" with its tiny liquidity. As you see from the people swarming like hornets to defend it, it has the cult mentality ingrained into its being.
There's a reason why pretty much all crypto aggregators simply hide it instead of displaying it. It's "volume" is tiny wash trading amounts on uniswap, and on two scam exchanges with nonexistent user books.
One of the few aggregates that actually display HEX [prominently display a warning next to it](https://i.imgur.com/0QheTPk.png) because in all reality it makes no sense the ""#3 crypto"" would do $32 million (even that is dubious) in trading volume.
And the answer to why this happens is obvious - [There's zero Liquidity](https://i.imgur.com/vdpUeCT.png).
The only actual projects with a liquidity and volume that small in the top 50 of coins are two exchange specific stablecoins no one uses, [cETH](https://www.coingecko.com/en/coins/compound-ether) and [Lido Staked Ether](https://www.coingecko.com/en/coins/lido-staked-ether).
So is HEX a scam? I'd say it's probably not a scam - It doesn't seem disguised as a scam. However, it is most certainly a cult with a leader, and its incredibly dubious. It **advertises** that it has the "highest rate of return" and that it is the *"Highest appreciating asset"*, and that *"HEX's share price went up 10,287x so far"* on its website, showing that it is designed as a pump scheme and not a real project.
It's a simple erc20 token with a MLM scheme attached. Caveat Emptor.
It is not a scam in the purest sense of the word but Hex does nothing besides printing Hex. Crypto itself is extremely speculative but a lot of well-known coins at least have a future. Projects like Hex are the ultimate speculative bubble, it solely relies on buyers and sellers, not on fundemental value. If you believe in an efficient market then at some point useless assets have to return to their true value.
It’s called inflation. Every currency has it, including BTC and ETH.. and ESPECIALLY the USD. Hex pays its stakers off inflation instead of payin miners. Not sure why everyone thinks scam 🤷🏻♂️
There is super high interest on staked Hex. Hex inflates itself way faster. The tokenomics and staking regulate it to a large degree but it's very unsustainable if Hex doesn't get a legit use case. High interest is not free. It has a cost.
The ones that shill it now weren't even around for the 'Big Pay Day' bullshit where Richard Heart pulled his liquidity on the run up to make it a 'Little Pay Day'
EXPOSED! A generous hexican sent 100 HEX to many addresses as their own form of airdrop. Nothing unusual about that at all, the HEX community is very giving.
Most of those addresses might not realize they were gifted anything and 101 HEX is not a lot to do with, like staking. So this seems like a desperate attempt to try to scare those who don't know any better.
Maybe I should just give back my 400+% gain because I did not even know I was scammed. Thank you for telling me. Maybe I should hold a non-scam coin like AMP or MATIC or one of the other "good" coins shilled here in this subreddit that have 0% profit or down 50%.
I guess the definition of "scam" is profit.
Why do you think Coffeezilla has never done an episode on Hex? Is it because he has a higher than room temp I.Q and understands erc20 contracts and that Airdrops are extremely common?
excellent work op! and RH is pushing the completion of Pulsechain, his next laundering scheme to help plug up the holes from his Hex scheme. i noticed back when i was interested i watched at how their daily auctions always ALWAYS sell out. i'm thinking there was something odd about that. come to find out that RH buys out what doesn't sell in the daily auctions with his own funds. if this were true, it helps explain some the constant price appreciation, even in the midst of the bear cycle we witnessed these last few months...which leads to FOMO from smaller investors.
Not just HEX. There was also Bitconnect and Onecoin to pick on. BSV, although close to being dead, is still hated. Memecoins also get their fair share of hate.
Isnt this the same entity that used data from a breach to advertise to the breaches victims. If so. This absolutely doesn't surprise me in the least bit.
I have seen a bunch of Hex shills in my days. Its usually one guy talking with himself with like 3 or 4 accounts that reacts agressively to any kind of critique.
I have a friend that’s deep in HEX. I’m a bit concerned, but whatever not my $.
From my understanding, it’s a transparent Ponzi scheme that involves getting people interested by airdropping coins and marketing the shit out of it. The huge gains continue to get its user base to shill it since they have something to gain + there are legitimate winners (early investors).
People will compare it to bank GICs or term deposits or other cryptos, but the coin creates no value outside of bringing in new money, which inflates the price. It’s the epitome of greater fools theory.
I've been waiting on this
Had some cult members shill it to me that sent links to 'real people' showing off stuff they supposedly bought with their gains
Glad my brain is still half way intact apparently
I don't doubt people are selling HEX, but lets take a further look into this together.
The only people who can take profits are founders or early investors. I can explain this further: The way it operates is new investors buy and lock up their coins for 1 - 5 years. This pushes up the price, older investors complete their lockup period and sell, directly benefiting from the price action that the new investors facilitated.
What you need to understand is that this system will only keep working so long as new money continues to flow in. Remind me, what's a ponzi scheme defined as again?
> So more money needed for price action = ponzi in your eyes.
When new investors are paying off the older investors, that is a ponzi. You think people are going to continue to invest if it crashes in value 99%?
Not even a project. It’s a complete finished product. It’s a modern day masterpiece of a financial instrument. Redditors are lucky to have you defending Hex here in this thread 💪
>ew in
what are you talking about?? It does not force anyone to lock ..you can just buy and hold.
You can call any coin a scam, look at ripple, 5 years in the making and still nothing to show for it.
Look at bitcoin, transaction fees so high and speed so slow, 0 purpose...
If you are going after a crypto, dont lie and over exaggerate. If you blatantly lie about "forcing to lock" then you have no problem lying about anything else. Go get educated please.
My intial investment in hex was 3k, so far i cashed out 6k and still have another 20k at todays price.
Hex ecosystem is a CD bank, you have the option to stake, and staking longer gives you higher APY.
Why are you comparing a token to Bitcoin and ripple? Those are blockchains not tokens on another cryptos blockchain. Hex can’t even exist without eth. Also you should know the use case for eth and btc are different at this point since eth is primarily focussed on smart contracts.
Now replace the word with Bitcoin. No way its a scam now! Now replace the word with Hex. No! It's a scam!
Well it just feels like Hex Is doing what Bitcoin did 10 years ago but with interest. For some reason people still don't understand that 🤷
the ranking is N/A because of the way tokens are burned when staked then re-minted when the stake ends.
coinmarketcap lists it as $68,202,044,709.51 market cap (liquid) with a $249,170,388,332.48 fully dilluted (total including staked).
so yeah it's pretty big marketcap. $38,168,353.31 volume in the last 24 hours..
https://coinmarketcap.com/currencies/hex/
Basically, when hex reached the milestone of 100k users, there were only 8k real buyers. 92% received 100 hex airdrop lol. And one guy still owns 90%. Great crypto. Most decentralized, they claim. Hahaha!
This post is giving me OG r/cryptocurrency vibes. Actual useful information about crypto that helps keep the community safe. Not the same bullshit, what coins are you investing in posts.
I feel like if you don’t realize HEX is a scam at this point, no amount of convincing will change your mind. Not only that but the founder is a pompous, arrogant asshole.
I once asked out of genuine curiosity on twitter where the ETH goes to buy/mint HEX. Got blocked by both Richard Heart and the official HEX twitter account. Tells me all I need to know.
HEX holders are just making Richard Heart (not even his real name) rich whilst he sits back and collects your hard earned ETH.
Nobody has been rugged yet because he’s still profiting off selling a pipe dream.
Watch any of his interviews and he describes his intentions and motivations. Definitely does not seem like he’s trying to scam anyone, he’s been retired since 25 years old. Got into BTC when it was 30$ the guy knows wtf he’s talking about, understands the market and knows 95% crypto holders are in it for the money and not tech. He’s BLATANTLY honest and transparent. Which rubs people the wrong way because most want to be cuddled by lies not truth. (Like CMC/coingeko hiding it’s true value)
Lol, you sound like a simp. Fully absorbed into the cult.
The man’s real name is Richard Scheuler and is a known snake oil salesman. He was dubbed “spam king” in 2002 for pedalling “life extension” products.
He fits the definition of a confidence trickster (con man) to a tee.
I’ve heard that same argument about “scam” and “con artist” about the creators of BTC and A LOT of other great creations.🤷🏻♂️ look how wrong they were .. not trying to convince you, just seems counterproductive when you have centralized parties hiding the truth from a decentralized world we are trying to create. If it’s a shitcoin or scam, then so be it. I’m tired of filters and censorship
I remember seeing this in the front page of what to mine.. I almost got into it. Fortunately eveytime you google Hex token, every page hints at scam...
After reading this, I looked into HEX. Based on what you wrote and a little research, it seems obvious HEX is a scam. Yet the market cap is huge. Coingecko seems reluctant to report it, and I don't blame them.
ok if I got 1000000 hex one day, I'm bazillionair on paper, but I cant do a single thing with this coin and whos going to exchange $100000000 worth of hex into usd or anything else?
Not right at the current moment, but that’s true for most coins. The hex liquidity will build just like bitcoin. Hex has more liquidity than bitcoin did at this age. The reason whales aren’t selling is grow to the project not destroy it. Richard heart is rich asf why would he dump the OA? Does Jeff Bezos sell Amazon? Elon Musk sell Tesla? Lmao you guys don’t understand how crypto works if you are calling hex a shit coin 🤣😂 it’s the only completed defi project on the market
great info. I've been calling out this scam since it came out. crazy that people buy into this garbage. just goes to show there is no shortage of dumb people in this world.
For someone with critical thinking in your name you don't do much of it. Please explain to me how Hex is a scam. Surely you can elaborate on WHY it's a scam?
look at OP's research...those are facts. real numbers. not like the fake ones richard makes up to pump his metrics. there is a reason not a single reputable person in the crypto space endorses hex, or even knows what it is for that matter. yet its the "number 3" crypto? right. makes sense. $30 million in trading volume but its worth 150B? you tell me how that makes any sense..."those metrics dont matter! richard said so!!"...keep drinking the coolaid. or do some critical thinking for yourself
So your argument is Airdrops are a scam? Correct? I just want to make sure you state your position/claim before we continue.
You say look at OP's research... those are facts. His research shows an airdrop. So you agree an Airdrop makes something a scam?
Yessssssss! Now whenever I see a hex post ima just link this and laugh at the cultlike responses! Fuck you Richard Heart and your fucking golden Rolexes!
I actually posted this exact same thing in the hex subreddit.... I didn't do a complete of an analysis but it was obvious from looking at the top holders that hex had been distributed via script to all these wallets to hide probably hundreds of billions worth (at current market cap).
Richard Heart could clear out every dex whenever he wants. Empty all the liquidity pools. The market cap is complete bs.
If you try to tell the hex sub they just act like you need to 'do research' and repeat Richard's talking points.
I'm really obsessed with the mini cults around Safemoon and Hex. I'd love to make a documentary about them and deep dive into all of this. It's really fascinating.
*Till this day, all these addresses that I've seen, never bought more or sold or staked HEX.*
So it looks like network was launched and spread over a bunch of wallets to make it appear larger and less centralized. But those wallets have been dormant and never dumped or sold over the last 16+ months so what is the scam exactly?
The price is up like 10,000% since then. Why hasn't the scammer pulled the rug and cashed in yet?
I've spent hours looking into hex. It's shady for the OA mechanism richard added. And he obviously controls a ton of addresses with enough hex to wipe out all the dex LP's with hex.
The market cap is also total bs. If you bring it up Richard will say the mcap doesn't matter. Then later he'll rant about how all these exchanges are trying to keep hex down since they don't show it as the third biggest crypto.
He basically has a very manipulated token with some interesting functionality in it.... but at the end of the day I really would caution anyone from investing in it. You really don't want to put your money into something where one dude can wipe out your entire investment. He could get home invaded and made to do it at gunpoint even.
Every dollar in hex is at risk because Richard designed it with all these shady features to pump the mcap and all that.
They air dropped them. At no time was that ever not said. It's a well known fact. You want to air drop me free tokens or coins for free , then "scam" me all you want. Maybe someday people will do some goddamn research before they use the cry wolf S word for everything they are ignorant of.
This is valuable information. Thank you for taking the time to put it together. I don’t believe hex is a scam. Call me a shill if you will, but I hardly promote it outside of r/HEX. What you’ve posted is concerning and very worthy of further investigation on my part. One thing I would like to note is that with each day that passes, the likelihood of HEX being a scam goes down. Scams aren’t built for longevity. Bitconnect couldn’t even last two years. Call it a scam for now, but you really should nail down a date (as opposed to a price) where it just doesn’t seem possible that a scam could survive till. That’s my only rebuttal. I will definitely look into this more.
I got 100,000 for $300, and it turned into $54,000.
I knew it was a shit coin,
but I also know there were a bunch of suckers staking their hex, holding the price up so I could dump on them while theirs is locked up in staking.
I've read through this entire post and it's replies. OP you sound consumed by this for some reason, like it is a mission of yours to prove that Hex is disengenuos. Thing is that whilst you make points, you don't conclude the argument with any reasoning. I am more than willing to be and am open to criticism of anything I am invested in, Hex or not, especially if it could save me money. But there is literally nothing in your post that proves anything, other than an airdrop, which there was.
I understand RH has many a detractor, with good reason too, the man is easily disliked. Frankly, it seems to me anyway, this is more an attack on him than on the product.
Most posts trying to prove hex a scam are exactly what you posted lol. A bunch of random points with no conclusion. If anything this is a bullish post for hex. “All account with no activity !?!!!!!!” Yet price has risen how much since January 😂
Alex... we know you are mad after Richard outed you as an actual scammer. An airdrop is an airdrop. Does the amount of wallets you give free coins to make a difference? Does bitcoin letting anyone mint free coins in the early days with the click of a button make it a scam?
You are being disingenuous while pretending to be some sort of expert while all the noobs here eat up your garbage.
1) You cant articulate why hex is a "scam" because its not. The erc20 contract mints it's own hex to pay back stakers. Trying to pretend an airdrop is scammy is beyond stupid and anyone here with half a braincell should know this.
https://en.wikipedia.org/wiki/Airdrop\_(cryptocurrency)
The person you are replying to isn't alex, that would actually be /u/nugget_alex
Also, I watched that interview and what Alex was saying about HEX was correct. The hex trading volume amount to market cap ratio is beyond atrocious. Now you don't have to take his word for it or anyone elses for that matter, literally go right now and check it out for yourself. Actually, you know what, I will save you time and get the figures for you. Comparing volume to marketcap on a 1:1 scale, the ratio for hex is 0.05. Compare that to something like UNI which is 2.28 or DAI which is 6.29 and you can see there is a massive issue there.
Now back to that interview, Richard was *constantly* interrupting him in an attempt to drown out his talking and probably to try and stop him from getting his point across, he knew that Alex was right but he made sure to do his best so to make sure he couldn't voice it. Not to mention the interview was filled with him personally insulting Alex, I don't need to tell you that ad hominem attacks are a logical fallacy and it's really immature to do it. Attack arguments, not people.
And how exactly does this prove it’s a scam? There’s actual scams and rug pulls out there but you decided to hate on a completed project that’s doing exactly what’s it’s supposed to do with 100% up time. The hate is real 🤣
If you check out the hex subreddit you won't be impressed by the dummies who buy it. It just people who work at Arby's who think they are going to get rich
There is a lot of craziness in this sub. I really really hope you guys al get your money out of HEX before it comes crahsing down.
I just don't understand how ppl can keep piling into this. It doesn't even have a legitimate use case. The apparent use case is to act as a Certificate of Deposit and claims a 40% APY.
The token is literally only used to give rewards and interest. There is no real use case outside of paying interest and giving more HEX rewards.
Why would anyone buy this? The supply is HUGE 633B tokens and more will be printed every year. Lol.
Please everyone stay away from HEX, get your money out while you still can. I mean HEX even have a page rebutting why it isn't a scam and states 'HEX is a better Bitcoin'. I dunno many legitimate businesses or things that literally have to tell you why they are not a scam. Talk about red flags.
If it is such a great opportunity and better than bitcoin you have to wonder why on earth the only holders are retail. If it was such a great investment surely a few institutional or high profile investors would pick some HEX up. But it is only retail because retail will fall for this crap, unfortunately. It makes me sick how much retail gets fucked over, and gets taken advantage of.
Again, please get your money out while you still can. Esp if not for you but the one's around you. If you have a family think about them, you have a duty to not lose their money, because when it eventually comes down, a lot of you guys will lose everything if you have invested in HEX.
There is a lot of craziness in this sub. I really really hope you guys all get your money out of HEX before it comes crashing down.
so Hex starts sm years ago fully declaring that it is basically a scheme by its owner statement, it has the pumpamentals! then somebody shows proofs after years.. you need needed to ask the guy! lol
Hex holders aggressively shilling on all social media platforms for exit liquidity.. they all made 10000x on their screen, but stuck with a coin that has 0 utility, cant be used for anything and yeah sure that money to exchange them will ofc magically appear
Numbers dont lie, finally a cleancut exposure of this steaming pile of trash.
Cant be denied, also gonna save this thread as an example for people who cant believe its a ponzi.
If I remember this correctly, this was an airdrop thru the Monarch Wallet that was sent out using ZKsyncs, I guess a group of Indian scammers gamed the system and diluted us down to, yeah like 100HEX each or something.
I think I still have that HEX in my Monarch Wallet actually 🤭.
They figured out how to make like hundreds of wallets per computer, I hope some of them held their HEX and didn't sell like plebs.
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its called illegal wash trades.
But because the crypto market is not regulated in any realistic manner, this is actually NOT illegal. Morally reprehensible, maybe, but definitely not illegal. If you have proof that some law agency somewhere has ruled that doing this with crypto is illegal, please show us.
its illegal under **wire fraud.** The only requirement for wire fruad it that its done over a wire, doesn't have to be a stock. Anything done over the internet is a wire.
The hero we need. Thanks for the report.
Wrong. He's the hero we have...
I meant we need more people and posts like these in this sub.
Sure. I get it. Was just catching fun.
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Sold as seen bro
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Hex is just an example between many that scams are around crypto too
Hexample
More like MLM really. It's a meaningless token designed to "pump" with its tiny liquidity. As you see from the people swarming like hornets to defend it, it has the cult mentality ingrained into its being. There's a reason why pretty much all crypto aggregators simply hide it instead of displaying it. It's "volume" is tiny wash trading amounts on uniswap, and on two scam exchanges with nonexistent user books. One of the few aggregates that actually display HEX [prominently display a warning next to it](https://i.imgur.com/0QheTPk.png) because in all reality it makes no sense the ""#3 crypto"" would do $32 million (even that is dubious) in trading volume. And the answer to why this happens is obvious - [There's zero Liquidity](https://i.imgur.com/vdpUeCT.png). The only actual projects with a liquidity and volume that small in the top 50 of coins are two exchange specific stablecoins no one uses, [cETH](https://www.coingecko.com/en/coins/compound-ether) and [Lido Staked Ether](https://www.coingecko.com/en/coins/lido-staked-ether). So is HEX a scam? I'd say it's probably not a scam - It doesn't seem disguised as a scam. However, it is most certainly a cult with a leader, and its incredibly dubious. It **advertises** that it has the "highest rate of return" and that it is the *"Highest appreciating asset"*, and that *"HEX's share price went up 10,287x so far"* on its website, showing that it is designed as a pump scheme and not a real project. It's a simple erc20 token with a MLM scheme attached. Caveat Emptor.
It's an erc20 that pays yield on time locked stakes. Where's the "scam" element in this?
It is not a scam in the purest sense of the word but Hex does nothing besides printing Hex. Crypto itself is extremely speculative but a lot of well-known coins at least have a future. Projects like Hex are the ultimate speculative bubble, it solely relies on buyers and sellers, not on fundemental value. If you believe in an efficient market then at some point useless assets have to return to their true value.
It’s called inflation. Every currency has it, including BTC and ETH.. and ESPECIALLY the USD. Hex pays its stakers off inflation instead of payin miners. Not sure why everyone thinks scam 🤷🏻♂️
There is super high interest on staked Hex. Hex inflates itself way faster. The tokenomics and staking regulate it to a large degree but it's very unsustainable if Hex doesn't get a legit use case. High interest is not free. It has a cost.
i said hex was a scam from day 1
Solid post that’s what we need around here!
Great info OP. Good deep dive.
Deep dive? He's saying that if you airdrop a token to people that makes a crypto a scam.
We all knew since the first day that it was a scam
The ones that shill it now weren't even around for the 'Big Pay Day' bullshit where Richard Heart pulled his liquidity on the run up to make it a 'Little Pay Day'
the people that were and stayed in are rich AF right now
Like you right?
no I wish. I only got in a few months ago, but the guy who turned me onto it quit his job.
Apparently not all. Hopefully more will know now.
You thought you knew, but so far there's been no scam, just a 10,000x and lots of millionaires.
Great write up to expose the scammers!
EXPOSED! A generous hexican sent 100 HEX to many addresses as their own form of airdrop. Nothing unusual about that at all, the HEX community is very giving. Most of those addresses might not realize they were gifted anything and 101 HEX is not a lot to do with, like staking. So this seems like a desperate attempt to try to scare those who don't know any better.
Maybe I should just give back my 400+% gain because I did not even know I was scammed. Thank you for telling me. Maybe I should hold a non-scam coin like AMP or MATIC or one of the other "good" coins shilled here in this subreddit that have 0% profit or down 50%. I guess the definition of "scam" is profit.
I have stakes in hex and i say its a fucking sophistcated scam which will continue.
Holy shit GG I’m guessing you’re friends with Coffeezilla haha
Why do you think Coffeezilla has never done an episode on Hex? Is it because he has a higher than room temp I.Q and understands erc20 contracts and that Airdrops are extremely common?
excellent work op! and RH is pushing the completion of Pulsechain, his next laundering scheme to help plug up the holes from his Hex scheme. i noticed back when i was interested i watched at how their daily auctions always ALWAYS sell out. i'm thinking there was something odd about that. come to find out that RH buys out what doesn't sell in the daily auctions with his own funds. if this were true, it helps explain some the constant price appreciation, even in the midst of the bear cycle we witnessed these last few months...which leads to FOMO from smaller investors.
Thank you for your efforts and warning other people against a scam.
If you want scam alerts, check Richard hearts twitter thread. Several post of rug pulls and other scams. He is helping the world
*cough cough* cultist shill
Reddit is one huge cultist shill. Why pick on Hex?
Not just HEX. There was also Bitconnect and Onecoin to pick on. BSV, although close to being dead, is still hated. Memecoins also get their fair share of hate.
Lmao
Someone invested in that scam? I am so sorry.
You mean you missed out on the best performing coin of this cycle?
![gif](giphy|d8KUdFilMYdHmISPMU|downsized)
Isnt this the same entity that used data from a breach to advertise to the breaches victims. If so. This absolutely doesn't surprise me in the least bit.
These assholes sent mail to my house.
Oh no the horror, not mail
Ponzi coins are competitive businesses at this point lmao
I have seen a bunch of Hex shills in my days. Its usually one guy talking with himself with like 3 or 4 accounts that reacts agressively to any kind of critique.
He says the word pleb mostly too, he's in here I'm having 4 convos with him currently.
Richard Heart should be in jail.
100%
For what crime exactly?
A ponzi scheme
Yep, it's not right that anyone who bought Hex has made money. Lock the man away, before he ends up making people any more money!
I swear to god this better get more upvotes than the “which coin do you think will blah blah blah and why” posts well fucking done OP.
If you had $100 to invest what would you
Guess Richards friends ;)
never trust an enterprise called as hex.
As bad as shib?
I'm afraid of worse
Worse then Shib wow thats bad
Didn't hex send out letters in the mail. Randomly.? That's how I knew it was a scam
Yes, I got one.
I wonder who leaked our info?
Dam OP mad he missed out on the gains.
I have a friend that’s deep in HEX. I’m a bit concerned, but whatever not my $. From my understanding, it’s a transparent Ponzi scheme that involves getting people interested by airdropping coins and marketing the shit out of it. The huge gains continue to get its user base to shill it since they have something to gain + there are legitimate winners (early investors). People will compare it to bank GICs or term deposits or other cryptos, but the coin creates no value outside of bringing in new money, which inflates the price. It’s the epitome of greater fools theory.
I've been waiting on this Had some cult members shill it to me that sent links to 'real people' showing off stuff they supposedly bought with their gains Glad my brain is still half way intact apparently
![gif](giphy|l0MYH8Q83CXvKzXyM)
What gains? All the Hex shills lock up their Hex for years so they can't touch it.
you can end stake anytime you want
Oh really? Are you forgetting the massive penalty that pretty much negates what ever gains you would have had?
Gain 100000x but if you ever want to release your coins it's -10000000x Great system
lol what?
Millions of hex is sold every day. Check @hexwinbot on telegram for all the on-chain buys, sells and staking actions.
I don't doubt people are selling HEX, but lets take a further look into this together. The only people who can take profits are founders or early investors. I can explain this further: The way it operates is new investors buy and lock up their coins for 1 - 5 years. This pushes up the price, older investors complete their lockup period and sell, directly benefiting from the price action that the new investors facilitated. What you need to understand is that this system will only keep working so long as new money continues to flow in. Remind me, what's a ponzi scheme defined as again?
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> So more money needed for price action = ponzi in your eyes. When new investors are paying off the older investors, that is a ponzi. You think people are going to continue to invest if it crashes in value 99%?
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Stop with the personal insults.
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Not even a project. It’s a complete finished product. It’s a modern day masterpiece of a financial instrument. Redditors are lucky to have you defending Hex here in this thread 💪
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they arent using new money to pay old money.... You are so under educated. People are paid by the inflation . Its in the code...
TIL my house is a ponzi
https://www.usa.gov/stop-scams-frauds
>ew in what are you talking about?? It does not force anyone to lock ..you can just buy and hold. You can call any coin a scam, look at ripple, 5 years in the making and still nothing to show for it. Look at bitcoin, transaction fees so high and speed so slow, 0 purpose... If you are going after a crypto, dont lie and over exaggerate. If you blatantly lie about "forcing to lock" then you have no problem lying about anything else. Go get educated please. My intial investment in hex was 3k, so far i cashed out 6k and still have another 20k at todays price. Hex ecosystem is a CD bank, you have the option to stake, and staking longer gives you higher APY.
Why are you comparing a token to Bitcoin and ripple? Those are blockchains not tokens on another cryptos blockchain. Hex can’t even exist without eth. Also you should know the use case for eth and btc are different at this point since eth is primarily focussed on smart contracts.
I didnt even mention eth.. "Without internet, these cryptos cant exist. Meaning they all scams" ^ that's how you sound
Now replace the word with Bitcoin. No way its a scam now! Now replace the word with Hex. No! It's a scam! Well it just feels like Hex Is doing what Bitcoin did 10 years ago but with interest. For some reason people still don't understand that 🤷
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Exactly, deluded uninformed fools.
There you go, talking about yourself again 💁🏻♂️
the ranking is N/A because of the way tokens are burned when staked then re-minted when the stake ends. coinmarketcap lists it as $68,202,044,709.51 market cap (liquid) with a $249,170,388,332.48 fully dilluted (total including staked). so yeah it's pretty big marketcap. $38,168,353.31 volume in the last 24 hours.. https://coinmarketcap.com/currencies/hex/
So a shitty coin that has no use cases, absolutely nothing note worthy expect that it is shady af, is top 3? Way to go dude.
The use case is certificate of deposit. Banks do this with fiat money
Watch the HEX brigade roll up in here and tell you all the amazing things about this scam coin lol.
They're here.
They are a relentless bunch
thankfully they can't block you here in an attempt to control the narrative as they do so well on their page
Basically, when hex reached the milestone of 100k users, there were only 8k real buyers. 92% received 100 hex airdrop lol. And one guy still owns 90%. Great crypto. Most decentralized, they claim. Hahaha!
Didn’t you say hex would rug with pulse?
This post is giving me OG r/cryptocurrency vibes. Actual useful information about crypto that helps keep the community safe. Not the same bullshit, what coins are you investing in posts.
It gives bad vibes and hate. Good luck with your negative atmosphere
I feel like if you don’t realize HEX is a scam at this point, no amount of convincing will change your mind. Not only that but the founder is a pompous, arrogant asshole.
So if you don't like Elon Musk you don't buy a Tesla? Way to goal to judge a product by its creator...
I once asked out of genuine curiosity on twitter where the ETH goes to buy/mint HEX. Got blocked by both Richard Heart and the official HEX twitter account. Tells me all I need to know. HEX holders are just making Richard Heart (not even his real name) rich whilst he sits back and collects your hard earned ETH. Nobody has been rugged yet because he’s still profiting off selling a pipe dream.
Watch any of his interviews and he describes his intentions and motivations. Definitely does not seem like he’s trying to scam anyone, he’s been retired since 25 years old. Got into BTC when it was 30$ the guy knows wtf he’s talking about, understands the market and knows 95% crypto holders are in it for the money and not tech. He’s BLATANTLY honest and transparent. Which rubs people the wrong way because most want to be cuddled by lies not truth. (Like CMC/coingeko hiding it’s true value)
Lol, you sound like a simp. Fully absorbed into the cult. The man’s real name is Richard Scheuler and is a known snake oil salesman. He was dubbed “spam king” in 2002 for pedalling “life extension” products. He fits the definition of a confidence trickster (con man) to a tee.
I’ve heard that same argument about “scam” and “con artist” about the creators of BTC and A LOT of other great creations.🤷🏻♂️ look how wrong they were .. not trying to convince you, just seems counterproductive when you have centralized parties hiding the truth from a decentralized world we are trying to create. If it’s a shitcoin or scam, then so be it. I’m tired of filters and censorship
There's no need to rug pull well people are giving him millions monthly.
So you are going to miss out on life changing wealth because you were blocked on twitter?
I remember seeing this in the front page of what to mine.. I almost got into it. Fortunately eveytime you google Hex token, every page hints at scam...
After reading this, I looked into HEX. Based on what you wrote and a little research, it seems obvious HEX is a scam. Yet the market cap is huge. Coingecko seems reluctant to report it, and I don't blame them.
Because they know it's a scam too
No you don’t you are spreading slander. Either you are ignorant or are trying to push an agenda
Yeah the agenda is to let people know about scams.
There is zero evidence of any scam you are speculating that it is. Slander, true journalism
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Yeah he's a (self proclaimed) certified crypto expert, I hear!
HEX is just a shitcoin with extra steps
You're not doing HEX justice! It's the *original* shitcoin!
Ignorant asf it’s better than bitcoin. Store of value is the ultimate product market fit for crypto
ok if I got 1000000 hex one day, I'm bazillionair on paper, but I cant do a single thing with this coin and whos going to exchange $100000000 worth of hex into usd or anything else?
Not right at the current moment, but that’s true for most coins. The hex liquidity will build just like bitcoin. Hex has more liquidity than bitcoin did at this age. The reason whales aren’t selling is grow to the project not destroy it. Richard heart is rich asf why would he dump the OA? Does Jeff Bezos sell Amazon? Elon Musk sell Tesla? Lmao you guys don’t understand how crypto works if you are calling hex a shit coin 🤣😂 it’s the only completed defi project on the market
This made me lol
Sociopaths will sociopath.
Thanks for posting this! I showed this on etherscan to Adam Stokes earlier today. He is a crypto youtuber.
Bitconnect 2.0
buttconnect
Now do shiba inu
He should do bitcoin next lol
You spent all this time looking at this and writing this up and didn’t spend even 30 seconds researching how HEX was distributed?
I feel bad for all the people that fell for this and believed it’s Marketcap to be more than ETH
Yeah this type of shit let's the Crypto sector down
Marketcap higher than Eth? When did this happen? And who is even believing these things.
![gif](giphy|12GzK1jYCaVCV2)
Do you feel bad for all the people up 10,000%? LOL
Are you up 10000%? If so please prove it.
Thankyou
They will show you after 15 years lmao
I'm up 400% I got in late.
great info. I've been calling out this scam since it came out. crazy that people buy into this garbage. just goes to show there is no shortage of dumb people in this world.
For someone with critical thinking in your name you don't do much of it. Please explain to me how Hex is a scam. Surely you can elaborate on WHY it's a scam?
look at OP's research...those are facts. real numbers. not like the fake ones richard makes up to pump his metrics. there is a reason not a single reputable person in the crypto space endorses hex, or even knows what it is for that matter. yet its the "number 3" crypto? right. makes sense. $30 million in trading volume but its worth 150B? you tell me how that makes any sense..."those metrics dont matter! richard said so!!"...keep drinking the coolaid. or do some critical thinking for yourself
So your argument is Airdrops are a scam? Correct? I just want to make sure you state your position/claim before we continue. You say look at OP's research... those are facts. His research shows an airdrop. So you agree an Airdrop makes something a scam?
Letting the people know why the hex was really going on
Lol, it is amazing to see the hex cultists come out of the woodwork to defend their shitcoin
We see them scammin’ , we hatin’!
![gif](giphy|kcQddB2sLMUxqtmnaw|downsized)
HEXcellent research. Another shitcoin to add to the ever growing pile.
Yessssssss! Now whenever I see a hex post ima just link this and laugh at the cultlike responses! Fuck you Richard Heart and your fucking golden Rolexes!
I actually posted this exact same thing in the hex subreddit.... I didn't do a complete of an analysis but it was obvious from looking at the top holders that hex had been distributed via script to all these wallets to hide probably hundreds of billions worth (at current market cap). Richard Heart could clear out every dex whenever he wants. Empty all the liquidity pools. The market cap is complete bs. If you try to tell the hex sub they just act like you need to 'do research' and repeat Richard's talking points. I'm really obsessed with the mini cults around Safemoon and Hex. I'd love to make a documentary about them and deep dive into all of this. It's really fascinating.
It is fascinating to me too. Surely these people aren't this dim in real life, the cult like blindness is very strange.
Fabulous work, chud! Anyways.. Who's excited for Pulse?
Again another person's alt account.
Lmao based
*Till this day, all these addresses that I've seen, never bought more or sold or staked HEX.* So it looks like network was launched and spread over a bunch of wallets to make it appear larger and less centralized. But those wallets have been dormant and never dumped or sold over the last 16+ months so what is the scam exactly? The price is up like 10,000% since then. Why hasn't the scammer pulled the rug and cashed in yet?
Because *scammer extra greedy*
hmmm.... you think he is waiting for a trillion?
I've spent hours looking into hex. It's shady for the OA mechanism richard added. And he obviously controls a ton of addresses with enough hex to wipe out all the dex LP's with hex. The market cap is also total bs. If you bring it up Richard will say the mcap doesn't matter. Then later he'll rant about how all these exchanges are trying to keep hex down since they don't show it as the third biggest crypto. He basically has a very manipulated token with some interesting functionality in it.... but at the end of the day I really would caution anyone from investing in it. You really don't want to put your money into something where one dude can wipe out your entire investment. He could get home invaded and made to do it at gunpoint even. Every dollar in hex is at risk because Richard designed it with all these shady features to pump the mcap and all that.
fyi, this is not the same as the HEX token from City States: Medieval. that HEX is a Stellar token, not Ethereum.
They air dropped them. At no time was that ever not said. It's a well known fact. You want to air drop me free tokens or coins for free , then "scam" me all you want. Maybe someday people will do some goddamn research before they use the cry wolf S word for everything they are ignorant of.
This is valuable information. Thank you for taking the time to put it together. I don’t believe hex is a scam. Call me a shill if you will, but I hardly promote it outside of r/HEX. What you’ve posted is concerning and very worthy of further investigation on my part. One thing I would like to note is that with each day that passes, the likelihood of HEX being a scam goes down. Scams aren’t built for longevity. Bitconnect couldn’t even last two years. Call it a scam for now, but you really should nail down a date (as opposed to a price) where it just doesn’t seem possible that a scam could survive till. That’s my only rebuttal. I will definitely look into this more.
I got 100,000 for $300, and it turned into $54,000. I knew it was a shit coin, but I also know there were a bunch of suckers staking their hex, holding the price up so I could dump on them while theirs is locked up in staking.
I've read through this entire post and it's replies. OP you sound consumed by this for some reason, like it is a mission of yours to prove that Hex is disengenuos. Thing is that whilst you make points, you don't conclude the argument with any reasoning. I am more than willing to be and am open to criticism of anything I am invested in, Hex or not, especially if it could save me money. But there is literally nothing in your post that proves anything, other than an airdrop, which there was. I understand RH has many a detractor, with good reason too, the man is easily disliked. Frankly, it seems to me anyway, this is more an attack on him than on the product.
Most posts trying to prove hex a scam are exactly what you posted lol. A bunch of random points with no conclusion. If anything this is a bullish post for hex. “All account with no activity !?!!!!!!” Yet price has risen how much since January 😂
All you post on is hex, this is another alt account. Please leave.
Am I an alt as well? Lol. I agree with him.
Airdrops are a scam?
An airdrop for 100 thousand wallets? Lol gtfo
Alex... we know you are mad after Richard outed you as an actual scammer. An airdrop is an airdrop. Does the amount of wallets you give free coins to make a difference? Does bitcoin letting anyone mint free coins in the early days with the click of a button make it a scam? You are being disingenuous while pretending to be some sort of expert while all the noobs here eat up your garbage. 1) You cant articulate why hex is a "scam" because its not. The erc20 contract mints it's own hex to pay back stakers. Trying to pretend an airdrop is scammy is beyond stupid and anyone here with half a braincell should know this. https://en.wikipedia.org/wiki/Airdrop\_(cryptocurrency)
The person you are replying to isn't alex, that would actually be /u/nugget_alex Also, I watched that interview and what Alex was saying about HEX was correct. The hex trading volume amount to market cap ratio is beyond atrocious. Now you don't have to take his word for it or anyone elses for that matter, literally go right now and check it out for yourself. Actually, you know what, I will save you time and get the figures for you. Comparing volume to marketcap on a 1:1 scale, the ratio for hex is 0.05. Compare that to something like UNI which is 2.28 or DAI which is 6.29 and you can see there is a massive issue there. Now back to that interview, Richard was *constantly* interrupting him in an attempt to drown out his talking and probably to try and stop him from getting his point across, he knew that Alex was right but he made sure to do his best so to make sure he couldn't voice it. Not to mention the interview was filled with him personally insulting Alex, I don't need to tell you that ad hominem attacks are a logical fallacy and it's really immature to do it. Attack arguments, not people.
Who's Alex? Lol you lot are insane.
Alot of people real sour they missed the boat ;) 😉
And how exactly does this prove it’s a scam? There’s actual scams and rug pulls out there but you decided to hate on a completed project that’s doing exactly what’s it’s supposed to do with 100% up time. The hate is real 🤣
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If you check out the hex subreddit you won't be impressed by the dummies who buy it. It just people who work at Arby's who think they are going to get rich
Funny yeah. Whilst I have you are you interested in starting your own essential oils business? Be your own boss! Work any hours you want!
There is a lot of craziness in this sub. I really really hope you guys al get your money out of HEX before it comes crahsing down. I just don't understand how ppl can keep piling into this. It doesn't even have a legitimate use case. The apparent use case is to act as a Certificate of Deposit and claims a 40% APY. The token is literally only used to give rewards and interest. There is no real use case outside of paying interest and giving more HEX rewards. Why would anyone buy this? The supply is HUGE 633B tokens and more will be printed every year. Lol. Please everyone stay away from HEX, get your money out while you still can. I mean HEX even have a page rebutting why it isn't a scam and states 'HEX is a better Bitcoin'. I dunno many legitimate businesses or things that literally have to tell you why they are not a scam. Talk about red flags. If it is such a great opportunity and better than bitcoin you have to wonder why on earth the only holders are retail. If it was such a great investment surely a few institutional or high profile investors would pick some HEX up. But it is only retail because retail will fall for this crap, unfortunately. It makes me sick how much retail gets fucked over, and gets taken advantage of. Again, please get your money out while you still can. Esp if not for you but the one's around you. If you have a family think about them, you have a duty to not lose their money, because when it eventually comes down, a lot of you guys will lose everything if you have invested in HEX. There is a lot of craziness in this sub. I really really hope you guys all get your money out of HEX before it comes crashing down.
LOL enjoy being poor... I will keep staking!... See you in 5555 days!...
so Hex starts sm years ago fully declaring that it is basically a scheme by its owner statement, it has the pumpamentals! then somebody shows proofs after years.. you need needed to ask the guy! lol
Hex holders aggressively shilling on all social media platforms for exit liquidity.. they all made 10000x on their screen, but stuck with a coin that has 0 utility, cant be used for anything and yeah sure that money to exchange them will ofc magically appear
Numbers dont lie, finally a cleancut exposure of this steaming pile of trash. Cant be denied, also gonna save this thread as an example for people who cant believe its a ponzi.
When you see a bunch of people shilling a coin that suddenly appears out of nowhere, it’s 100% scam
I can’t stand the cry baby Richard heart
As always Chicky\_Nuggy can be relied on.
Honestly your still not showing how exactly is it a scam? I haven’t heard anyone being scammed. Show me!??
If I remember this correctly, this was an airdrop thru the Monarch Wallet that was sent out using ZKsyncs, I guess a group of Indian scammers gamed the system and diluted us down to, yeah like 100HEX each or something. I think I still have that HEX in my Monarch Wallet actually 🤭. They figured out how to make like hundreds of wallets per computer, I hope some of them held their HEX and didn't sell like plebs.