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24057484 No.24057484 [Reply] [Original]

Why

>> No.24057692
File: 110 KB, 562x775, Ponzi-Scheme.jpg [View same] [iqdb] [saucenao] [google]
24057692

>>24057484
>Why
WHAT PART OF PONZI SCHEME DO YOU NOT UNDERSTAND?

>> No.24057719

why?

>> No.24057853

>>24057692
Why

>> No.24057906

>>24057484
it's not "technically" a ponzi scheme, but locking your money up with the hopes of higher rewards in the future that are expected to be paid by... other people staking with the hope of higher rewards in the future pretty much fits
the hex website tries to claim hex is the "CD of crypto", but don't mention that a CD is money given to a bank that is loaned out to generate income on the money given in the CD. hex has no lending feature to generate income from the hex staked, only money from future people will buy hex to stake in hopes more future people will come buy a by it

>> No.24057962
File: 2.56 MB, 322x178, 1604858614383.gif [View same] [iqdb] [saucenao] [google]
24057962

>>24057484
>Why

>> No.24057969

>>24057484
>Why
If you give people 2bn worth of supply what are they going to do?

>> No.24058075

>>24057484
I love watching his rants, he's such a weak, insecure little bitch.
>why aren't you talking about my tits
>oh yeah I banned the word tits
https://youtu.be/DFL1DCSj2fA?t=4350

>> No.24058078

>>24057484
looks like its up 30% in the last 30 days anon. not sure what you are talking about. explain

>> No.24058222

>>24058078
Madoff made his ponzi look like it worked great for 20 years. The key to making the scam sustainable was making sure the victims committed for a long time, locked their liquidity. Any project that asks you to commit to locking for some time is a ponzi.

>> No.24058380

>>24057484
When the next 48 hours reveal that HEX was not a one hit wonder, the real question is - at what price are people FOMOing back in? My guess is 0.083.

>> No.24058408
File: 512 KB, 2664x1494, D6.jpg [View same] [iqdb] [saucenao] [google]
24058408

Do you use any new Defi now?
What is your opinion/view about DYMMAX: dymmax.com
Found this platform on Probit, they made a referral program there, looks good. They have super liquidity and pro team

>> No.24058407

>>24058222
ok, explain how its a scam. many smart people have tried but nobody has any actual substance to the claims. what u got?

>> No.24058457
File: 42 KB, 768x384, Maisie-Williams-And-Sophie-Turner.jpg [View same] [iqdb] [saucenao] [google]
24058457

>founder locks up most of supply
>verifiable on chain
>whales trapped
>stakers set

Like, what more do you want? This is day 1

>> No.24058606

>>24057484
*silently been leaving for GLITCH*

>> No.24058615

>>24058407
How about you faggots making a coherent argument for where these yields come from if not from new depositors? It's not a lending platform, it's a pure ponzi based on nothing but ponzinomics. The big tittied goth rants for hours but doesn't even try to explain anything, he just insults people and talks about getting tattoos of the logo.
Where do the yields come from? The answer according to soiboi manson is from depositors. That's the definition of a ponzi, he just sincerely believes this time the ponzi will work. He's that delusional.

>> No.24059657

>>24058615
You have to go back

>> No.24059698

>>24058615
you could have just said, 'i don't have anything of substance that would lead anyone to believe hex is a scam' and have been done with it. gg

>> No.24059740

AXN is a very real alternative you can use, if you currently hold HEX, you can free claim AXN as well.

>> No.24059802

>>24058615
there is no point in arguing with them
just let them rope when this obvious scam eventually goes to 0.

>> No.24059807

Axion

>> No.24059932

>>24059657
Back where?
>>24059698
It doesn't pretend to be anything but a ponzi scam. There is no way to refute that, the only thing the goth tranny says is this time the ponzi will work but refuses to call it a ponzi. If you were honest enough to just admit it's a ponzi that would actually make the project more interesting and counter the huge blinking signal saying it's run by a malicious braindead manipulator who has never been honest about anything in his life.

>> No.24059982

>>24059698
How Richard Heart tricked and deceived people invested in HEX

1. Hex had an event called Big Pay Day. All the hex available to BTC holders as the snapshot day was being given out, since most BTC people didn't claim their Hex.
2. To get into to the BPD, you needed to stake (lock up) your hex for at least until the day of the BPD, max stake is 15 years. Longer you stake, the higher your share of the BPD.
3. A few days ago, the BPD payout to most people was about 3x their principal because only 18% of hex was staked. Most people assumed they would be getting at least a 2x on their principal as the amount staked was so low so their share was high.
4. BPD just ended recently, the amount of Hex staked is now 98%.
5. Richard has a huge stash of Hex owned by himself, although its not publicly admitted for legal reasons to do with securities and getting BTFO by the SEC. During the launch, you could exchange Ethereum for access to a daily pool of minted Hex, the amount you get based on how many other people are in the pool. Richard was recycling Hex into the AA over and over, so for example say I put 10 eth in- that goes to an address that RH can access. He takes my 10 eth, moves it to his own wallet, then puts it through the AA the same way I did. 10 eth goes back to his address, but this time he also gets a share of the daily Hex pool as well. He can do this as many times as he wants each day, nobody knows exactly how much he was doing it.
6. RH probably owns between 50 and 70% of all Hex in existence because of this. He left it unstaked right up until the BPD so people thought they would get a bigger payout.
7. He staked it at the last moment to get an enormous share of the BPD, so it went from a 3x return to a x0.3 return, from 18% hex staked to 98% hex staked.

>> No.24060015

>>24059982
wow you mean the smart contract that explicitly says it makes no promises paid me 30% more hex than i had before. i sure got scammed.

>> No.24060074

>>24059932
listen 85 iq guy, perhaps you would like to enter ponzi into dictionary dot com. come back to me when you have

>> No.24060199

>>24060074
>A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors.
That's what Hex does. Nobody pretends it doesn't but still you all refuse to call it a ponzi because of branding implications. You have to be an incredibly dishonest manipulative shithead to try to pretend it's not a ponzi and that's what all hexfags are. Instead of listening to productive people teach about you something useful you listened to a boy who spent his entire life scamming people teach you how to delude yourself into thinking you're not a scammer.

>> No.24060417

>>24060199
Dude, it doesn't fit the definition of a ponzi.

>> No.24060576

>>24060417
Where the fuck do yields come from if not from new deposits? This is the question I asked from the start and the question the tranny should focusing on every time he opens his mouth if this is in fact not a ponzi.
Penalties from unlocking aren't a sustainable source unless more deposits continue to come in.

Where do yields come from if not from new deposits? If the do come from new deposits then this is a ponzi. Penalties add something so you might want to gamble on the ponzi but don't pretend it's not a ponzi, as soon as you do you're a liar and a scammer.

>> No.24060701

>>24060015
cope

>> No.24060722

all is ponzi

>> No.24060787

>a x0.3 return

You didn't do it right. You staked for a very short frame of time. If you had staked longer you would have got more. Every day the hex/eth in the AA went down, down, down. You got a BPD bonus even if it wasn't the huge payout you were looking for. I know this because I have 1 day BPD stake which is a 25% gain on principal. The rest are way above that.

The upside of RH's "shareholder activism" is that the supply is now mostly locked up. Lets imagine an alternate universe where everyone had huge BPD, including the megawhales with 10s to 100s of millions of HEX? The market would be swamped with liquidity, perhaps forever. Instead we have this situation which will result in long term price appreciation which is all that I as a long term staker, care about.

This is why you have to go back (to wherever you came from)

>> No.24060944

>>24060576
The term "ponzi" has a specific definition which you are stretching to fit to the point of absurdity. The yields will come from the emergency end-staking as you describe, and also the requirement for hex as the contract's native asset, and also the interest algorithm. Buying the hex gets you access to shares and interest by allowing you to use the contract. That is all it is.

>> No.24061117

>>24060944
>has a specific definition
I posted the definition.
>investing scam which generates returns for earlier investors with money taken from later investors.
>penalties, interests bla bla
The question is where does any of that money come from? What generates the yields? There are projects with ponzinomics I still wouldn't call pure ponzis because there's some other value being generated too.
Where does the money from staking Hex come from? If the answer is ultimately only new deposits then you just have a convoluted ponzi.

>> No.24061185

What people expected was a giant, raging party, as everyone was getting rich with ATHs in their portfolios which is exactly what happened at the apex of Bitconnect before it went to zero, and was probably what would have happened if everyone was in such massive short-term profit.

Instead what we have is a sober, not-ATH price, no big BPD party, no giant liquidity and price destroying dumping, no rented convention hall filled with coke-snorting affiliate pumpers, hired bands and a balloon drop. Just Day one on a contract that is going to build interest for long term price appreciation.

>> No.24061337

>>24061117
Yield on principal comes from market supply and demand for Hex and shares, and interest from staked hex and shares. The architecture of the interest algorithm pays longer stakes more, but thats not the same as a ponzi where some amount of hex is paid directly from new stakers to old stakers as the price of admission. Instead, the share price goes up over time, and if someone reneges on their stakes, there is a penalty to stakeholders.

>> No.24061516

>>24061337
>a ponzi where some amount of hex is paid directly from new stakers to old stakers as the price of admission
Most ponzis don't do that, there's always some obfuscation. Maddoff didn't do that. How obfuscated or direct the payments are is completely irrelevant, the engine of the entire thing is scamming new chumps to pay you out. There's no other value generated anywhere in the process but the project is presented as something that's generating value to convince you to pay previous investors. That's exactly what Maddoff and Ponzi were convicted for.

>> No.24061588

>>24061185
Instead what you have is RH's kike dick hydra in your mouths. So what if the price would smash to 0. Many people expected this and were ready to buy the dip. The show would continue but now that the shittoken is a confirmed centralised fraud everyone except a few swing trading degens have lost interest on holding this.

>> No.24061638

>>24060576
Yieds do NOT come from new deposits nigger.

>> No.24061644
File: 1.10 MB, 640x358, relax.gif [View same] [iqdb] [saucenao] [google]
24061644

just get in axion instead

>> No.24061684

>>24061638
WHERE DO THEY COME FROM YOU BRAINDEAD RETARD!? WHAT IS BEING GENERATED!?

>> No.24061736

>>24061516
>There's no other value generated anywhere in the process but the project is presented as something that's generating value to convince you to pay previous investors
that's what got me
their hex.com website tried to claim "hex is like a CD at a bank, except for crypto!" except a bank takes a CD to use a cash to generate loans to earn interest on
hex has no way to issue loans to generate interest on the staked hex, so all the value has to come from someone coming in to buy when someone leaves staking to sell

>> No.24061820
File: 285 KB, 1280x774, 3A5B755C-E739-4807-9678-AA25C789EEF2.jpg [View same] [iqdb] [saucenao] [google]
24061820

If pic related didn’t raise any red flags, just kys

>> No.24061884
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24061884

>>24061820
ok at this point im kinda impressed. Not at the amount of morons that bought into this, but the sheer audacity of richard to have fucking hex taxis driving around advertising to normans into buying his scam.

>> No.24062097
File: 18 KB, 364x538, jajd83jf38kansnoef9h4fb9qah34adf.png [View same] [iqdb] [saucenao] [google]
24062097

Is this true?

>> No.24062239
File: 131 KB, 804x616, 838484828828.png [View same] [iqdb] [saucenao] [google]
24062239

>>24062097
Yeah...sadly

>> No.24062974

>>24062097
It's over isn't it

>> No.24063149

>>24062974
Yes.
I will just wait my stakes to end (the longest are going to December), and then will sell it with a loss. Price was decimated and BPD did not covered it.
There is no point in locking it there, and see the price being destroyed by 1-day staked whales.
And I dont care if the price have risen 300% in a year. I entered this month, not start of year. Wanted to experiment how a crypto CD would look like... and this is the result...

>> No.24063222
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24063222

>>24058078
>>24058407
>>24059698
>>24060015
>>24060074
HOW MUCH LOCKED FOR HOW LONG

>> No.24063253

>>24058075
People like this are the biggest red flag in the world. How do people fall for this shit?

>> No.24063356

>>24063149
I mean sucks for you if you're honest. I guess you're one of those suckers who buys tops to sell bottoms without dyor, but you selling at a loss is my gain.
I hope all of you crying and fuding right now sell the bottom and preferably emergency endstake so that you'd get even less.

>> No.24063389

>>24063149
Wait, do I understand the Hex contract correct?

A normal guy free-claims or AA buys Hex approx. 1 year ago and stakes, because Richard talks non-stop about major gains due to interest payed for staking longer.

But: someone who didn't stake all year, but has a lot of Hex and stakes only on the last day of the initiation period gets a huge junk of the remaining/penalty Hex?

I thought claiming so little time only gives you like $1 worth of Hex.

Is that a bug? Game-theoretically, this doesn't sound very smart. Or am I missing something?

>> No.24063510

>>24063356
Im not losing too much, and the losses are covered by bitcoin. So you guessing wrong.

>>24063389
You are missing the huge quantity of hex the whales stakes.
They can stake for just one day, and have the same gains of someone who staked for a year, because they stake 1000x times more.

>> No.24063742
File: 475 KB, 580x360, c26cc84239cc778fe2f9396dfec65147.png [View same] [iqdb] [saucenao] [google]
24063742

Say hello to Team HEX

>> No.24063827

>>24057906
>CD is money given to a bank that is loaned out
no
it's used as collateral
and you get the interest with or without loans being made

>> No.24063856

>>24063510
>because they stake 1000x times more.
So that isn't well thought out in the contract, right?

Of course it makes sense, like, if you stake only a 1/350th of the time but 1000x more principal, of you're going to get more interest.

But still... kind of defeats the purpose, or at least is not really compatible with what Richard was propagating for more than a year: that whales who want to come in on the last day to sweep it all up and dump on the rest can go fuck themselves. But I guess them having at least free-claimed means, they participated early.

I'm following this only out of academic interest anyway. I have 0% position in Hex.

>> No.24063888

>>24063742
What a bunch of NPCs. Class A cult-victims. No own personality, so they take on the personality of someone with a strong ego and assertiveness.

>> No.24064009
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24064009

>>24063356

>> No.24064057

>>24063856
I didnt claimed HEX, for security reasons (the signature would reveal my address). So I bought it with ether. Was more like a experiment to check how CD would look like in crypto.
So far, I find it pays much more interest than a bank, and this is good. However, it wont eliminate the problem posed by whale speculation. You can have more interest than in a bank, but the value of the currency is dumped constantly, as the interest can be used by the whales to accumulate and sell it. A single whale can make several big stakes, with shorter periods, and then dump it to crush the price. Imagine several whales doing that, in a concerted effort to bring the price down. There are people in cryptospace who hates RH and would like to see his project dead.

>> No.24064059

>>24057962

>Oh my god it's Robert Loggia

>> No.24064206

>>24057484
Gonna die tomorrow. R.I.P.

>> No.24064385

>>24063827
1. You get paid with money not with interest ponzi tokens that are only worth something because somebody else maybe will buy them in the future.
2. Where do you think the interest is paid from? It's paid from economic activity that generates profit not from just sitting there doing fucking nothing. CD isn't a magic box that spits interest sweet Jesus.
I swear to God hex cultists are not only brain dead but also financially illiterate.

>> No.24064511

I really don't understand what the big problem is. Right now HEX is where it was 30 days ago bouncing around previous usd all time high levels.
So far the "BIG" dump is nowhere to be seen. It's all in your heads people. You want it to be real and happen, but no significant dump has come.
Maybe it will in a few hours, but so far HEX is doing surprisingly great. I honestly thought it would be much worse by now.

>> No.24065003

>>24063827
>you get the interest with or without loans being made
banks that don't make money from loans fail due to being unable to pay back their CD's
it's collateral, but it's collateral that's loaned out to someone productive in the real economy to generate interest
hex is nothing like that

>> No.24065057
File: 11 KB, 300x168, 7C794F39-8BDE-4633-9EC7-624D59F37AFC.jpg [View same] [iqdb] [saucenao] [google]
24065057

>>24057484
just buy axn guys

>> No.24065380

What is with all these anons crying about ponzi. Everything is a ponzi. You buy something and hope someone after you buys it from you for more than you paid. Social Security is a ponzi. What isn't a ponzi? Governments give you cash thinking you have a store of work but then they go and print more cash, lowering the value of your stored work. LOL. Buy my bags anon.

>> No.24065406

>>24057484
just got back from checking my stakes guys. holy fuck i got scammed. I received 35% more of this token than i had before for free. worst part is I'm making interest on my tokens and the free tokens given to me. FUCK ME I"M REKT!

>> No.24065453

fck this shit, if HEX doesn't tank within the next 3 weeks, I'll put 1000USD on this shitcoin .

>> No.24065531

>>24064511
I'm currently 30-40% down from what I spend earlier.
Its not in my head. It is in the numbers.