securities in crypto

[Anonymous No.50567778]

it took me a while but i finally left the cult due to a major redflag i've just discovered yesterday. it wasn't a scam but a security. richard heart copied the idea of convertible bonds and made it a token. nobody cares now but it's just a question of time till regulators and the sec will knock on richard's door. i'm finally out and i feel sorry to bring bad news. it's crazy that nobody was able to figure that out before me.

I'll elaborate in the posts below.

[Anonymous No.50567851]

https://www.investopedia.com/terms/c/convertiblebond.asp

Convertible bonds have fixed amounts of the interest they pay to shareholders. Just like in hex

Convertible bonds allow you to convert bonds into shares. Just like in hex where you convert hex into tshares.

There is also a giant locking up duration. Just like in hex with it's 6.5 years.

The reason richard calls hex a Certificate of Deposit and not Convertible bond is to pass the howey test.

I'll elaborate once more

[Anonymous No.50567861]

>Read pic first
>Read post

Hex
Hex has flexible financing options for investors, you can hold or stake it. Hex offers investors a feature of paying interest while also owning the token. The sharerate determnies how many shares you get for converting (staking) your hex to tshares. For an example, a 23000/1 ratio means that 23000 hex can be converted into 1 tshare.

[Anonymous No.50567889]

>Conclusion
Hex is the company and it distributes interest based on the share allocation. The payout happens daily. How does it happens? Non participants are benefiting participants. If nobody stakes the sharerate isn't going up, the dailypayout would be stagnant and the yield has to go somewhere. But because people are staking, hex acts like a company that pays a fixed amount interest, just like convertible bonds. And let's be 100% real, you are expecting profits in the furure. That's why people are staking. If the APY was supposed to be low like in regular CD's the incentive to stake would be very low. Lets talk about the reality instead the APY is around 30% and up if you stake for the avg duration of 6.5 years, but since Hex inflates the supply which has a direct Impact on the daily payout you have something called compounded interest. So people are expecting to have more in the future. It's not like buying btc or eth and thinking about the greater fools theory which equals in price appreciation.

You're not generating this yield, as i've explained before. The code and non stakers generate the daily payout for stakers. Hex is the company and it mimics convertible bonds to 100%.

[Anonymous No.50567936]

bump

[Anonymous No.50567955]

>>50567778
>i've just discovered yesterday

[Anonymous No.50567967]

bottom signal detected

[Anonymous No.50567971]

Hex mimics a ponzi scheme. stakers and holders are rewarded with newly minted hex, increasing the supply endlessly. you are rewarded through inflation, therefor the value of the token will exponentially approach zero once there are no new buyers to maintain the bubble of price. no hexican nigger will admit this, however you can look to the hundreds of other rebase projects who have followed the same tokenomic design. it is unsustainable, however there are enough retards that this doesnt become immediately apparent.

[Anonymous No.50568295]

imagine putting this much thought into some token. either buy or don't. sell high or sell low. ngmi.

[Anonymous No.50568457]

>>50567971
that's the basic understanding of a 100 iq hater. please read all of my 3 posts again till they make sense to you. we can't fuck richard just by saying it's a scam, that's wrong language. call it by it's name. Security and once that's clear we won and can kill his nonsense btc hate. I'm not trying to be egoistic or hateful towards you, but we finally found something to fuck him up and expose him. Spread the message anon.

[Anonymous No.50568496]

Dude is pretty clever to come up with this shit himself. I remember in the early days when hex was a banner here for a while, I never bought it cause I assumed it was a scam.

[Anonymous No.50568542]

>>50567971
>Hex mimics a ponzi scheme. stakers and holders are rewarded with newly minted hex, increasing the supply endlessly.
so are investors of convertible bonds

>btc miners are rewarded through inflation, therefor the value of the coin will exponentially approach zero once there are no new buyers to maintain the bubble of price.
Anon, please don't fuck this up by pretending you're dumb, don't fud your own bags.

Hex is a security. hex will die

[Anonymous No.50568575]

>>50567889
This is decent fan fiction, but it misses the point. Some of it could be true if HEX were a company, but that's the the thing. HEX isn't a company in any traditional sense of the word. It is an immutable smart contract on the block chain, so there is no management to be held responsible for delivering on any of your expectations. Rather every user is responsible for either delivering on his own expectations or failing to do so and takes on a personalized risk based on the size of his position and/or length of his stake.

Rather than being a security, HEX is a decentralized platform for economic activity which provides a better form of accounting among the people who participate under the rules set by the smart contract. Rather than a company HEX is the economic foundation for a decentralized, digital country. The success or failure of it at any point in time is dependent on the collective result of each individual user acting on his own self interest by lending out his capital to other users and leveraging his own time in the system in exchange for the privilege of betting on the possibility that the underlying system will gain more economic mass in the future, thus increasing the initial size of his investment, which is by no means a certainty.

[Anonymous No.50568657]

>>50568575
>This is decent fan fiction
>>50567861
>This is decent fan fiction

This is a 1:1 copy of a security called convertible bonds.

[Anonymous No.50568757]

>don't expect profit from the work of others
you are minting interest yourself, it's not getting paid by anyone

[Anonymous No.50568781]

>>50567889
hex is a smart contract fucking dimwit

[Anonymous No.50569284]

>>50568781
doesn't change the obvious fact the he copied convertible bonds

[Anonymous No.50569513]

>>50569284
This. He copied the model from legacy markets.
The only difference is like >>50568575 said, it is not a company, but a contract. However, this contract have a front man, as a company would also have. So yes, he can be investigated on this basis alone.
It is sad because the initial idea of HEX was quite good. But the front man spoiled it, and by twerking in his ridiculous clown clothing, he is just signalling he wants to be investigated.

[Anonymous No.50569565]

>>50568457
>Spread the message
How about skip the grassroots crap and you contact the SEC

[Anonymous No.50570512]

>>50567778
1. HEX is not a company
2. HEX pays out staking rewards using inflation and accumulated withdrawal fees

The question you should be asking is how is HEX yield sustainable, and I will answer with, "it's not". This is why I am looking forward to MAXX finance. MAXX is an upgraded HEX contract with fixed yields of up to 80% derived from a suite of DeFi DApps, validator node revenue, and token transaction fees, all managed by a DAO. Additionally, the MAXX team only gets 5% of the supply, not the majority of it as is the case for HEX.

[Anonymous No.50572460]

any other hexicans here holding PLSD?

[Anonymous No.50572486]

You are all retards for funding this career con-man's shit.

[Anonymous No.50572539]

>>50572486

Ponzis are mostly made up of fools.