T Simpson

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since Jan 28, 2021
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Recent posts by T Simpson

So hex represents the share of a pool of ethereum (what governs the token) where if you hold your hex for the time you say you will you are allowed to receive the inflation gain between your entry and exit of the pool when you do sell, but if you pull out early you just get the current speculative value of the share of hex token?

Is the inflation value arbitrary or tied to ethereum's speculative value? If not then is a user converting their money to hex therefore converting the value of their currency to hex's speculative value based purely on its user base?

How is that not just a contract to be in a pyramid scheme where everyone is just agreeing to jump ship when they said they were i.e. in 15 years. Just recycling money based on speculative market fluctuations.

I suppose the "punishment" is to try to prevent this, does this mean that you could lose more than you staked originally, otherwise what is the point of punishing pulling out early? I see no reason why hex is any more stable than any other scheme or crypto investment pool.

Am I correct in my understanding?

It seems the initial wallets and funds were seeded by the founder to give the project the appearance of a  large number of active participants when in reality the initial stakes were from dummy wallets controlled by the founder. Kind of a dishonest marketing tactic IMO. I just can't wrap my head around why the project uses so many of the same tactics as most crypto scams while claiming it is not. I suppose the blockchain doesn't lie and it has the users now.

Does hex give a user a greater ROI over just holding in a private wallet? I don't see how hex can offer a profit beyond standard inflation rates without taking money from newer investors who have not cashed out yet. The only thing keeping it from falling apart is the bet that not everyone will jump ship at the same time. I might as well hold fiat or bonds in a big ol shared bank account.

6 months ago

Dc Stewart wrote:For a skeptical take, a recent (November 14th) article discusses the peculiarities of the Hex structure and marketing and the business history of the founder.

Richard Heartโ€™s Hex Token is a Brilliant Scam

Pretty much the conclusion I came to after reading all the hex marketing. I don't see anywhere where it explains how interest is generated other than locking your coin up in somebody else's code and hoping it goes up. I'm not buying the "be your own bank" bit when I could just leave coins in their wallet; they say hex is like CDs and they can be bought and sold but from what I can tell this process is not automated and if it is how are the trading rules determined? By the founder? Unless you know how to code there would be no changing it and you would still be locked into the hex token.

Too many red flags for me, I could dive into code to verify its legitimacy but if it looks like a scam and smells like a scam then it's probably a scam.
6 months ago

Davin Hoyt wrote:
Are you crypto wealthy? (might play into your mindset)

Please try the experience of staking 5555days in HEX (or allow me to gift you the same).

The project I was creating was a novel way of creating ethereum smart contracts without writing code that would have opened them up to the general public (and earned me some eth off each contract made, possibly compounding). Unfortunately, I needed some very specific compiler tech that only two people in the world (at the time) could have made happen. I reached out to them and they declined (busy or whatever). So no, not crypto wealthy. I got out of it after realizing most people in that business were criminals, government honeypots, or ignorant to the darker side of crypto. Hard to trust anyone that just goes by a wallet id. I try my best to be ethical and honest especially in an industry with such a bad reputation.

I spent my crypto on what goods/services I could, I have some NFTs floating around out there that will probably never sell. Otherwise, I am not invested at all. DeFi would be new to me.

Davin Hoyt wrote:

I trust Richard Heart as an entrepreneur, just like I trust Paul Wheaton as an entrepreneur. These men have added excitement to my life. I found both of them by seeking a better life through the internet. Both men were doing recordings to enlighten their audience when I found them.

We have a joke in HEX: This isn't a rug pull, it's a magic carpet ride.

BitConnect had entrepreneurs, influencers, affiliates--  As I'm typing this I have the hex scam faq and Richard hearts stuff open. Giving it a read, ill look into it more before I judge.

My big gripe is that it appears to be a purely speculative investment, why not stake at a bicoin casino or buy doge coin. Why would I ever invest money into something I have no control over? Is that not gambling? Whereas if I invest in a good sturdy pair of shears (or shovel or whatever) I have full control over whether or not that asset makes money and provides value to others. Hex enables speculative investing but how does it earn money? Why is it needed? I can just as easily bet on crypto without it right?

Davin Hoyt wrote:

T Simpson wrote: rug pole...

(rug pull)

T Simpson wrote: https://hex.com/disclaimer/...

That link was broken, but there is a link to the disclaimer page at the bottom of www.HEX.com .

Fixed the typo (rug pole), but for some reason, hex.com's disclaimer URL redirects you to the homepage unless you go to it via the bottom of the page.
6 months ago
Been ignoring the crypto threads on here for a while but I gave this one a read-through.

I'm a software engineer and developed projects on the Ethereum blockchain in 2017. I am NOT a proponent of crypto. I'm going to voice a few of my concerns and give some advice to anyone who comes across this that may be thinking of investing in digital assets.

This thread promotes MetaMask which has security vulnerabilities, please DO NOT store private keys, wallets, passwords, and the like inside a browser extension. Use a wallet like Fortmatic or Coinbase instead.

My general investment opinions (not financial advice..... but won't hurt you..)

  • Don't know how the industry works? Don't invest.
  • Don't know what a product does? Don't invest.
  • Don't understand how the company makes money? Don't invest.
  • Have no way to hold the company legally accountable? Don't invest.
  • Don't know the owner personally? Don't invest.
  • Have to make additional payments to the company to get a return on investment? Don't invest.
  • Have to get other people to invest to see a return? Don't invest.
  • Can you lose access to your investment at any time without any resistance from yourself? Don't invest.
  • Don't know where your assets physically are? Don't invest.

  • Flip all those conditions around and the majority are true. Invest.

    If you invest in something and most of those conditions are telling you not to invest, you are probably in a casino.

    Personally, I like to be able to spend my money without needing an internet connection.

    DO, however (if you really understand the inner workings) use crypto in a way that creates value and improves lives not just like a penny stock gamble. However, this is hard to do with all the thousands of get-rich-quick scams devouring the industry. Even big established cryptocurrencies perceived by the average investor to be stable show red flags and have high risk. For example, Tether is not tethered to USD, the creators of Tether also own a big exchange (about all the creators have criminal backgrounds) that was going bankrupt so they bailed it out with the reserves of Tether and switch tether's backing from 1 to 1 USD to USD + unknown assets. Now they can print their own money and have been which may inevitably burst their bubble if the court case against them doesn't cause a crash first. Likewise, with HEX and almost any other defi platform, there is not much anyone can do to prevent a rug pull or other financial crimes since the industry is unregulated. decentralized and anonymous. There are reasons why pump and dump, insider trading, and other practices were made illegal in the stock market.

    As for HEX, I don't know the owners. Hex does not have an about page, no company name after the copyright notice, just https://hex.com/disclaimer/ I don't see any transparency or reason to trust this company with any of my assets.

    P.S. Crypto assets are still taxable income.
    6 months ago
    Could you compete in it yourself Paul? You could be the permaculture control group, have one less gardener to pay and have a shot at keeping any final prize money as the operating capital.
    6 months ago

    John C Daley wrote:Here its best to wear heavy cotton jeans that hang loosely around your legs.
    The looseness makes it hard for fangs to get through to your leg.

    Time to dig the groovy leg warmers and bell bottoms out of the attic.
    11 months ago

    T Simpson wrote:fat/time travelers?

    Answer: F/T = Full-Time

    I don't know what is more surprising, how close I was with those random guesses, or that I have not seen full-time abbreviated that way before.
    11 months ago
    Try these in order:

    You could try and update to the latest version of Mozilla and see if that fixes the problem.

    You could also try disabling or updating your browser plugins:
    How to disable plugins


    You may also want to clear your browser cache:
    How to clear Firefox on Windows 7
    How to clear Firefox on Windows 8
    How to clear Firefox on Windows 10

    If those don't work you could try installing a different browser such as Chrome, DuckDuckGo or Ecosia

    Still, having issues? I would run a scan with windows defender and/or another antivirus program:
    How to scan on windows 10

    If that does not work then contact your internet service provider; they could be throttling your service during peak hours.

    If you are using windows 7 update to Windows 10 since Windows 7 is no longer supported by Microsoft see: Windows 7 End of Support Info this means windows 7 may no longer be secure and may be vulnerable to modern cyber-attacks.

    Hope this helps.

    1 year ago