/biz/ - Business & Finance

>>53777833
vitalik isn't called a scammer because his creation provides a service that people pay for
people call hex a scam because A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.
Now I'm guessing you want to compare it to bitcoin:
I am NOT a ‘Bitcoin maximalist’ as some have claimed in an attempt to undermine the points I make in this article, and I only bring up Bitcoin throughout this article because Heart is constantly comparing it to Hex and inventing reasons why Hex is supposedly much superior. It’s his favorite rhetorical device likely due to Bitcoin’s name recognition and its established background.

He claims that Hex offers the best opportunity to buy now because it’s ‘just like Bitcoin in the beginning.’ In its beginning, Bitcoin had:

Low liquidity.
Large founder’s share.
In hindsight, those who held the longest had the best return.
And Hex has low liquidity, a large founder’s share and had a quick initial gain! See, same same! Buy, buy, buy!

But cryptocurrency was in its infancy 11 years ago: few people had heard of Bitcoin, it was the only digital currency available, you could only trade it peer-to-peer, and you could mine it on your own home computer. It was a big gamble that cryptocurrency would even have any value at all many years into the future because digital currencies had been tried before and failed.

When you only had a handful of people experimenting with a new technology that had a limited practical value at the time, of course, there is going to be low liquidity and a large founder’s share. However, Bitcoin wasn’t engineered to have those features like Hex was.

There are now over 20,000 cryptos covering $2 trillion $800 billion in value, dozens of retail crypto exchanges, ETF like trusts that buy and hold Bitcoin, and futures contracts on it: cryptocurrency has not been in its infancy for 5+ years now.