Still worried? Choose your concern:
Am I too late to buy HEX?
Bitcoin went up 6,500,000x so far from $0.01 to $65,000 within 12 years. People thought Bitcoin was too expensive to buy when it went:
10x from $0.01 to $0.10
10x from $0.10 to $1
10x from $1 to $10
10x from $100 to $1,000
10x from $1,000 to $10,000
It's been as high as $69,000.
Ethereum and many other cryptocurrencies also appreciated in price a lot. HEX "only" did a 10,000x so far within 2 years. If it continues to outperform Bitcoin, HEX would still go up another 650x. A 6,500,000x would put HEX at $367 within the next 10 years.
Until everyone has a wallet installed, aren't you still early?
Too complicated / too hard
It's still very complex to buy HEX.
That's part of why the opportunity is so large. When it's easy, the price might be far higher.
Maybe some good exchange will support HEX in the future. Once it's easy for users to buy HEX this opportunity is gone.
Imagine how risky it was to buy Bitcoin when it was only a year old at a penny. It's been as high as $69,000. Everything dips in price. The S&P 500, an index of 500 of the largest companies in the United States, dipped 36% in 2020.
On its way to 6,500,000x returns in 12 years the Bitcoin price dipped 94%, 95%, 81% and 86%, on some exchanges it flash crashed as close to $0 as possible. Amazon dropped 95% once too. Now it handles 50% of all Internet sales in the USA.
In its first year HEX’s price dipped 81%, 73%, 59%, 67%, 87% and then went on to make new all-time highs. Price dips are often opportunities for the impatient to give their money to the patient. HEX’s large price movements up and down are a feature, not a bug. People who buy tops and sell bottoms hand their money to those who buy bottoms and sell tops.
In case you don't want to risk all of your money, consider putting only a part of it into HEX to gain some exposure. Also, Staking for as long as possible reduces your exposure to price dips. With a longer time-horizon you're on the safe side with volatility.
What if I'm scared to buy HEX?
Fear is good, it's there to protect you. That feeling is what makes the largest opportunities so valuable. This is what being early feels like. You discovering something before everyone else is where the gains come from.
I can't afford to use Ethereum!
Ethereum fees are really expensive. Sending an ERC20 like HEX might cost around $10 in mining fees, a Uniswap buy $100 and ending HEX Stakes up to $1000. This prices out users on the lower end and makes it really hard to onboard new users.
To lower transaction "gas" fees Richard Heart
is building a new Ethereum fork called PulseChain
In the meantime use a Staking Calculator to estimate the potential profit of a Stake. Only start one if you will earn more than $100, otherwise it is not worth the Ethereum gas fee. Also try to use Ethereum on weekends where the transaction fees are usually cheaper.
Could I lose money in HEX?
But you're already losing money. Every day the government money printing drives prices higher and higher. Cryptocurrency is the highest appreciating asset class in history and HEX is overperforming. Bitcoin, for instance, has never been down in price for longer than about 3 years.
Consider trying something very small to learn about it. Maybe put in $100 to see how HEX works.
What is the use case of HEX? Where does the value come from?
Is PayPal valuable? Swiss bank accounts? 24 hour banking? 24 hour lending? Generating yield? Lower fees, no credit card fee rent seeking on entire economy. Like Bitcoin, HEX is a store of value which is a far more valuable use case than a payment network.
HEX uses "Proof of Wait" instead of Bitcoin
’s insanely expensive "Proof of Work". HEX monetizes time by paying you rewards for locking up your monetary energy for a fixed period of time. It does what Bitcoin cannot.
What if the HEX smart contract breaks somehow?
HEX has 3 independent audits and passed all of them with flying colors. It never had any kind of bug or malfunction ever. 100% uptime and perfect operation since its launch 2 years ago.
If the smart contract still were to ever somehow break, an airdrop to a new, fixed contract from holders of the old contract, before the error occurred, can be done. If the Ethereum network totally stopped working, HEX holders could be airdropped their tokens on a new contract on a working system that supports solidity contracts (of which there are several).
If the Ethereum price drops so low miners don't want to mine anymore they can accept payment of fees in HEX instead of ETH.
ERC20 contracts are safe enough to have launched several billion dollar projects with no problems. HEX is a single, immutable smart contract. This means that it has a really low attack surface & cannot be modified by potential hackers. The code is set in stone and can never be changed, censored or stopped.
Is HEX a Ponzi scheme?
A Ponzi scheme promises high returns that it sustains for a while by stealing from the principal of new depositors to pay the returns to older depositors. It fails when it can't meet its obligations. Also these schemes usually pretend to have some kind of fake magic mechanism like a "trading bot" to explain their high APY.
In HEX, the yield which is paid to Stakers comes only from inflation and not other users. This is programmed into the immutable smart contract without any middlemen. You mint your own rewards by interacting with the contract. No one owes anybody anything. You only owe yourself to mint your own rewards in the future. In HEX there are no promises.
Is HEX a pyramid scheme or MLM?
A pyramid scheme has multiple levels, tends to put many middlemen between product and user and often has weak retail sales and strong sales of its "reseller package". It relies on people refering each other to get new users.
A Multi Level Marketing (MLM) system works in the same way: multiple levels of members refer new users to pay out the old ones.
HEX has no referral program. HEX has no middlemen. In HEX, you mint your own rewards, just like Bitcoin miners do.
Where does the demand for HEX come from?
There will always be a top 20 as long as there are 20 coins of value. Whichever you thought don't belong there, those are your investment blind spots. They went from nowhere to the top, making lots of people rich along the way. This is the difference between your desires and the market's.
It's hard to believe that the market wants things you don't. Really hard. There are a few coins on this list that some people really do not like; however, they have to learn humility and respect the market. The market will not change no matter how hard they yell. Many tried to change the market by yelling, they all failed.
The lesson is, if you're in crypto to get rich or richer, you must respect these $1B to $100B Market Cap coins that came out of nowhere. For they showed the highest ROI in the shortest time. If you don't know how they did that, you don't know how the next one will. Know thyself.
HEX does everything better than Bitcoin except for the 800 (yes, in 12 years, just 800) websites that accept BTC. An efficient market values a better thing over a worse thing as time passes. See how they compare
HEX has demand
Is HEX just a bubble?
The definition of a speculative bubble is that people simply decide that something is worth much more and later much less.
Learn what those words really mean and if HEX is an MLM/Ponzi/pyramid scheme/bubble in this explanation
So what about greater fool theory?
The APY of your S&P 500 or stock ownership does NOT come from it's earnings. For that to be true there would need to be much larger stock buy backs and dividends. It's nearly all from the next guy buying the same stock you did. For the same reasons you did. To one day sell it.
Any price that is set by the open market might correct. Even though some prices might rise a lot for a long time like the S&P 500 did the underlying asset does not have to be a bubble, Ponzi or pyramid scheme. It might correct or continue to go up in price. This also applies to individual stocks, the housing market and cryptocurrencies like HEX.
Why does Bitcoin or Ethereum or HEX go up? People speculating, plus the value of their product market fit. HEX has a clear use case: replacing the CDs from the traditional banking system with a far superior product.
HEX isn't real, you can't touch it
You can't touch software either and I bet you're reading this through software. The majority of money in the world for decades now is purely digital.
It's a miracle that you can store your life savings in just a 12 word seed phrase. It's a feature, not a bug.
Is HEX backed by anything?
Every single asset's value is only what others are willing to pay for it. Things of value are simply backed by shared belief in that thing's value.
Is HEX illegal?
HEX has legal opinion letters from multiple lawyers in multiple countries. Very good, verbose, accurate, useful opinion letters. HEX is nearly the only complete
(!) product in crypto, while everyone else has hopes and dreams of work of others (like developers). HEX is not a security
Will the Government make HEX illegal?
The United States and many other governments have passed laws explaining that the Blockchain is legal. Even if that were to change, two of the largest and most powerful lobbyists in the United States are the Motion Picture Association (MPA) and the Recording Industry Association of America® (RIAA). They didn't like people across the entire world stealing every movie and song ever created. They tried to ban BitTorrent. They failed. So too shall Blockchains succeed.
Will HEX be declared a security?
Some cryptocurrencies have already been declared a security by the United States. They end up in lawsuits that drag on for months to years.
HEX is not a security according to the Howey Test: You get a security in exchange for giving somebody money and expecting profit of the work of others. In HEX, you do all the work. You mint your own rewards. No one owes anybody anything. No one works for anybody else. The team behind HEX does NOT work for you. There are no promises. HEX is a finished product.
Is the HEX ownership too centralized?
How many funds are run by one guy? Countries? Teams? Companies? How's that worked out?
Jeff Bezos owns 11% of Amazon. Elon Musk owns 20% of Tesla. If they decided to dump their stocks the price would crash. They don't because they don't want to kill their golden goose. Understand that whales in anything have larger incentives to see their companies/projects do well, because they have more skin in the game.
40% of all Bitcoin is controlled by less than 2000 people
, that's 0.01% of addresses. The founder of Bitcoin "Satoshi Nakamoto" still owns around 5% of all BTC. It worked out quite good for Bitcoin's price (6,500,000x in 12 years). 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.
Ownership centralization is good for price appreciation. The origin address (OA) 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
Why is there no roadmap / partnerships?
Because HEX is already complete.
No building with people working means no overhead and selling down the price to pay for it. Everyone that goes full time crypto becomes a net seller instead of a net buyer.
HEX is a completed product unlike 99% of crypto. It can never be changed. Everything built around HEX in the future is just a bonus. HEX abandoned the need for a roadmap when it launched fully complete.
Is HEX a cult?
Why would HEX being a cult be bad for the price?
Many rivalries are merely the result of very passionate users. Ford vs Chevy, Apple vs Android, the list goes on and on. People just love HEX so much that they are even getting tattoos
Is HEX Ethical?
All investing and speculating boils down to you put some money in, wait and expect more out later. DeFi is mostly people trading and losing their money to exchanges and market makers. Trading is bad for your health and the majority of people lose vs holding USD. They lose even harder against just holding cryptocurrencies with product market fit. Trading is bad and most DeFi and ranking sites and ads are for trading. Imagine if we all just bought one amazing thing instead, imagine how high that price would go.
Are all Hexicans just bots?
The HEX community is so strong that the amount of organic engagement that HEX posts get on Twitter and elsewhere is far greater than some expect.
HEX users love it
There are over 35,000 active users just in the official Telegram chat
. Feel free to Turing test them.
Is Richard Heart a scammer?
HEX was founded by Richard Heart
, who stated that he "is in this for glory". Having built the world’s most successful crypto project, things have been turning out really, really well as he endeavors towards this aim.
HEX is a completed, triple-audited, immutable, open source smart contract that cannot be controlled, altered or stopped. The HEX community is passionate about the results and possibilities of HEX. They and Richard are on a mission for HEX to be seen for what it is - a revolutionary DeFi product - the Blockchain’s first Certificate of Deposit, which also happens to be the best performing asset in history.
Ultimately you have to decide for yourself: RichardHeart.com
Is this a scam?
Why do banks pay you interest?
Because they lend out your money? Nope.
Your money goes on the liability, not asset, side of the balance sheet. Banks use your money as an excuse to borrow cheap from the FED. They lend out the governments money (which inflates the currency) not the money you deposit. The government gives them that money for nearly free with your deposit as an excuse. Few understand this.
On top of that banks suffer from low interest rates, inefficiency, middlemen and bureaucracy.
Are cryptocurrencies a scam?
There are so many efficiencies that crypto introduces that are obvious benefits to humanity: increases in efficiency, removal of counterparty risk, removal of middlemen. To achieve this people need to keep installing crypto wallets, and that is where we are heading. We are heading to a world where everybody is going to own a piece of crypto, and it could change man's relationship to governments. It could change man's relationship to savings, as well as how people think about their futures. Most humans do not save for their future. In HEX, almost everyone participating saves for their future. And it makes these people healthy and happier people and that's a big deal.
Imagine how many fewer wars there will be when the people must be asked to pay a war tax, instead of having their savings robbed through money printing. The people will vote no. Cryptocurrency can save lives.
Nearly the entire economy paying a percentage rent to these couple companies is unfair. Cryptocurrency can remove these middlemen, however, they’re missing some important features: 1. Dispute resolution, 2. Recurring billing. When you see how expensive it is to do #1, credit cards start to look like a wonderful deal.
Someone is going to say: micropayments (it’s never worked); preauthorized lower amounts retailers can pull from you (might work); crypto-escrow (it appears any place that used to do it has gone out of business); too volatile - we have peer-to-peer stable coins, or "trusted" stable coins protected by laws instead of code to address this.
Thus, peer-to-peer open source value transfer is the minimum amount of middlemen possible, but is crippled by regulatory overhead at the end points, giving the incumbents entrenched advantage.
Is Bitcoin a scam?
Multiple billionaires own hundreds of millions of dollars of Bitcoin. It's up 6,500,000 fold in 12 years. Yes, that's 650,000,000%. The government has licensed Bitcoin. The largest markets in the world trade Bitcoin.
HEX is like Bitcoin
Is Ethereum a scam?
Ethereum has never had an inflation bug. Ethereum has a bug bounty program. Ethereum has the most developers in crypto, they're working on the smartest stuff ("zksnarks"). HEX already has 2000 TPS with onchain security via zkrollups such as zksync.io and optimistic rollups option on mainnet launching soon. Security and scalability isn't a dream in ETH, it's the reality and it's now. There's even a zkrollup based exchange.
Ethereum is faster, more affordable, more useful, with a better mining ecosystem (you can mine with your GPU instead of funding evil corps.) etc.
Latency, cost, security (no inflation bugs, bug bounty program, POW change ready, mining ecosystem), throughput, stable coins, DeFi, more friendly fans, 1.5x BTC price performance, L2 scaling, easier on the environment and even more so with ETH2, most of the top 14 marketcap coins launched as or primarily use ERC20, on chain exchanges, interoperability, more affordable to transact, more devs, more aggressive roadmap, no Mt. GOX coins dumping, and more...
Is HEX a scam?
Bitcoin and HEX are analogous. HEX is like Bitcoin
but better. Bitcoin is not a scam.
Where are the victims? If anybody gets scammed they yell really loud and tell anybody about it. Nobody ever got scammed by HEX.
Is HEX an exit scam?
You can't exit scam a totally complete, immutable, decentralized product. HEX is never going away, there is no "off" switch.
Where does the yield come from? How are 38% APY sustainable?
The yield comes from a fixed 3.69% annual inflation. No one owes anybody anything. You mint your own rewards and only ever owe your future self.
HEX value is virtually lent to all unlocked coins when coins are Staked (burnt). Even in normal bank CDs, your money is not lent out
. Unlocked HEX pay for the value borrowed by being diluted through receiving no inflation like Staked HEX do.
The exact APY Stakers get depends on how many HEX are Staked and how many penalties get split between them. Currently only around 10% of all HEX are Staked but the Inflation is based on every HEX in existence. This way the Stakers recieve far more than only 3.69% APY. In reality it's closer to 40%.
Is HEX all wash trading?
HEX is primarily traded on Uniswap
where all trades are publicly viewable
. It's a transparent trading environment by being on decentralized exchanges.
HEX has more transparent trading than most coins which are traded on untrustworthy centralized exchanges.
Go look for yourself
Does HEX have enough volume?
HEX has relatively low volume / Market Cap ratio compared to other cryptocurrencies. Sites like nomics.com
The best opportunity to buy BTC was when its volume was the lowest. This applies to almost every asset that has performed well.
Only exchanges make money on volume. Holders / Stakers don't. Volume costs the trader: more volume means more traders losing money hoping to make it back by shifting the loss to some other trader, or the Market Maker in a trending market. Volume doesn't fill your orders.
Volume does not give you ROI
Staked HEX can't move. This reduces velocity. This must be bad for price.
Is the HEX Market Cap too high? Surely it can't get higher than Bitcoin's?
Market Cap is a vanity metric you can't make money on. Market Cap is just the amount of "circulating" units times the price per unit. You can not place orders on the Market Cap chart.
Bitcoin's Market Cap includes Satoshi's coins even though they have never moved. They are still counted as "circulating" for whatever reason. There is no "price god" that holds the Market Cap below some number. HEX can have a higher Market Cap than Bitcoin. It can have a higher Market Cap than gold.
There is no fixed limit that the price can't move through.
What if I lose my private key?
You only need to write down your secret recovery phrase (those 12 words that MetaMask gives you) someplace safe. They act as a backup in case you lose / break your wallet.
People were able to do that for thousands of years before computers existed.
What if the internet goes down forever?
Then we have likely had an extinction level event and you're already too dead to worry about it.
The Blockchain can operate over other data transmission mediums such as radio, so the internet isn't actually a hard requirement.
The internet going down is an edge-case scenario. Most people overestimate the likelihood.
What if quantum computing breaks crypto?
Quantum computers can't do anything powerful against encryption yet. If one day they can, quantum ready cryptography upgrades are already written.
Quantum computers might be able to decrypt cryptographic signatures in the future but they can't reverse hash functions like SHA256. Hierarchical Deterministic (HD) crypto wallets that only ever use each address once already solved this potential problem.
Here's a research paper
concluding that it's no big deal.
HEX uses aggressive marketing tactics so it must be a scam!
People are caught in a local maxima of thinking securities laws alone stop scams. Theranos, Madoff, Enron were all securities. There are 3 ways to stop scams:
#1 Better enforcement of the laws we have (doesn't work in harsher parts of the world). It's usually post-facto and rarely recovers funds from those harmed.
#2 Yell at people to be smarter. Your speech isn't funded as well as the scammers and your pitch isn't as compelling, you often bring awareness to the scam and thus victims for free.
#3 Outcompete the scams for money by marketing to their would-be victims things that aren't scams. Maybe that's an index fund, maybe it's a business opportunity, that can scale and work everywhere.
The only scalable solution to the scamming problem is similar marketing tactics for honest projects (#3). Starve the scams of resources.
What about copycats?
You cannot copy HEX.
You can't copy the domain, the brand, the smart contract address. You can't legally copy any of HEX’s code or intellectual property like the share system. Even though the code is publicly viewable for everyone to verify its integrity HEX is not open source. You are not allowed to copy any parts of it.
There have been multiple similar coins that tried to imitate HEX and all of them failed.
Also the OA can protect HEX from potential forks because it could sell down the price of the copycat.