Martin Astor

Davin Hoyt wrote:
I don’t know whether to thank you for the opportunity, or tell you to go dig a pond. You joined this website to make this one post… so I hope you’re waiting in the bushes while I continue to enlighten people on where the internet is going.

My PDF listed in this thread describes crypto as a wide west, and that maturity is starting to show bedrock with the product called HEX.

Hi David. I'm back from digging my pond. It was time well spent. I hope you took the time to "go back to basics" and learn financial literacy. It will be only to your benefit.
Admittedly, I didn't plan on responding, but your rhetorical "projecting much?" comment struck a particular nerve; it is the haughtiness of someone both foolish and arrogant. I can deal with each one separately, but when the two are hand in hand it is particularly destructive. As such, this post will be more as a cautionary tale for whoever happens upon this thread. I have no interest in engaging with you further- you possess a conviction which is admirable, but clearly often misapplied. To those who see my post as rude, I apologize. I tried to be more gentle in my first post, this one will be more blunt.

Davin Hoyt wrote:
You need to ask yourself, “How would I create a currency?” You probably promote a nation state organizing a currency. Well, this is an organization of addresses that stay anonymous and loaded with (credits) which protect the whole, from invasive activities (within the hex ecosystem’s workings). HEX is a contract that you interact with on the Ethereum blockchain. That contract does not change over time. Within that contract, the system is mathematically arranged to make interest more scarce. That’s why such performances are stated with such boldness.

I've asked myself this question many times. You know nothing about me. And even if I did promote a nation state organizing a currency, that has nothing to do with the merits of my stance and the facts I had laid out in my earlier post. The rest of this comment is gobbledygook. I know what HEX is "supposed to be", but I also know what it is.

Davin Hoyt wrote:
It’s a product, not an ongoing project that has an oversight board with unclear directions and timelines. It is finished. You can point at it. It is separate from its neighbors.

Which is why Richard transferred the mechanics of HEX over to Pulsechain? A chain that was supposed to be a better Ethereum, but then ended up literally just copying most of Ethereum's code? (Richard Heart himself admits to this. I don't have the clips on hand, but if anyone is particularly curious I can dig for them)

Davin Hoyt wrote:
The large anonymous address(es) protect the whole. It protects the Staker class. The stakers are the people who lock up their hex tokens to earn interest, which is a share of the annual inflation of 3.69%. This is all math (in the contract that sits on the Ethereum blockchain). It’s like the Great Plains are open for grazing, are you going to send your son and some livestock out there?

You are still early to HEX as I’m writing this. But if this ends up being the next bitcoin, but a bitcoin that people hold like gold and earn interest like a nation’s monetary banking system… then what is “early”. Everything is perspective. Are you still mad about the Oklahoma Sooners jumping the gun, and their ancestry having more land than you? The entire idea is revolutionary, and the community that brought the idea forth survives. We just need to see how many eyes will open to a border-less wealth time deposit. I hope people will point to me if they get in conversations about innovations small farms could adopt. I have friends to help me with this message too.

I understand math. Let me know how it's working out for you.
I don't care if I was second in line to buy into Richard's scams. I don't condone them and I certainly won't help spread them.

Davin Hoyt wrote:
Again, there is a large holding that protects the whole. It is protecting the staker class (people with locked hex tokens) from any other entity that wants to sabotage the product via mathematics. Richard doesn’t place this information in the foreground, because it’s human nature to be selfish - and want to know personal outlook instead.

It's math. It's all in the code. It's all transparent...but he also needs to hide it from the foreground because of human nature. Do you hear yourself?

Davin Hoyt wrote:
Is this guy arguing for the anonymous Satoshi and his stagnant 1 million bitcoins that could rock the market at anytime? To replace bitcoin, a system needs to be created that irons out all the bad actors, and non-actors. Richard shouted out to the entire crypto market for one full year, saying he has the next bitcoin and if you hold bitcoin, you can retrieve a ratio of HEX to keep your wealth status in the coming years. Bad actor addresses (the ones that could be identified) were blocked from claiming free HEX.

Furthermore, HEX’s contract doesn’t allow people to stake beyond 5555 days. The action of ending a stake is mandatory, otherwise your stake will bleed dry over the course of one year. This feature will flush out inactive addresses - promoting clarity and ensuring product protection.

Why does a deposit need to be active? [This is rhetorical- it doesn't.]

Davin Hoyt wrote:
Back to the argument of “how would you start a currency?”

Once, I was doing work for a small group of entrepreneurs. I told the father of the group, “I think we should do a gig for someone else, then, use that money to be the founders of our next project “. They said no. They wouldn’t allow someone else to make a million, if they only made 10%. This argument is similar in my head. Your worried about fairness inside of your four horizons, but instead you probably would be better off getting lost in your work locally. (Like described in the book Small is Beautiful: Economics as if people mattered).

No. You're just trying to justify your selfishness. I have no problem with people getting rich and I applaud hard work that gets rewarded. What you're doing is not that. What you're doing is hoping on an investment of "early bird gets the worm", a rube goldberg of financial lunacy that needs to bring in new suckers to pay out the old suckers.

Davin Hoyt wrote:
Crypto is an immature market which is gaining maturity. HEX is a certificate of deposit on the internet that you don’t need to go to a banker for. It’s an easy situation to understand, as long as you weren’t already in crypto. Where you would be placing value on your emotions, or balloon up market caps based on chairmen social media conversations. Most things are “promise coins”, and that’s why I’m having to make this rebuttal.

An easy situation to understand indeed...

Davin Hoyt wrote:
Projecting much? Maybe, after watching technology and bitcoin for almost a decade, a cereal entrepreneur decides to make something new. Something that is complete and ready to use - among promises. People that have enlisted themselves in HEX, live today looking forward for tomorrow; The HEX system exists with truth, and is already changing lives.

This is not projecting. Let's cover the facts.
I have never gone long or short any of Richard's projects, whether directly or indirectly. That means I have no financial incentive whatsoever, in any direction. You spent nearly $2000 on door-to-door marketing alone, to say nothing of your net worth that you've sunk into Richard's scams.
I anonymously made one post, one, with the sole intention of warning people to protect the livelihood they've stored as money. You rambled for 3 pages selling people a fiction. I have nothing to gain while real, hardworking people have everything to lose.

That you so casually call it projection proves to anyone of even basic understanding of crypto markets (and frankly, finance in general) that you no not of the topic you speak of. I pity the people who have listened to your "advice". The HEX system is changing lives? I can believe it, the question is how? The hurting will only continue...

Davin Hoyt wrote:
Bitcoin was called a scam at one penny. It had its audience. It had its uses. Hop to this Permies! This is about adding freedom to your life.

PS- At least people are honest when they say, “a quick Google search”. The virus and hex both. I hope light is shining through a torn surface of your mental box. (I mean to be clear, not disrespectful)

PS2- I'm a spatial thinker. Lately, my mind has been trying to compare the timing of humus within a soil's life span, to available currency (liquidity) within a particular society's lifespan. I have been posting here in hopes that Permies' soil could be enhanced.  

"Hop to this Permies!" Listen to the siren song of the leader who will lead you to the promised land! Freedom is just around the corner! All you need is faith (and money to keep the ruse going). When the music stops and the lights come up, you'll know where you stand.

I said "a quick Google search" to save people time and to give them a rough idea of the general sentiment around Richard and his projects. Spoiler: I've probably known about Richard and his ideas longer than you have. The light is shining through and I'm basking in the sunlight.

https://www.sec.gov/news/press-release/2023-143
https://www.reuters.com/world/us/us-charges-youtuber-richard-heart-with-fraud-related-unregistered-crypto-2023-07-31/

You can make snarky comments about "state controlled", "national interests" etc. But the facts are clear to anyone not neck deep in these scams: Richard is a fraud, his projects are lies, you were duped. I recommend you take the time to lift up those around you rather than double down on the mistakes you've already made. It's okay to be wrong. It's not okay to turn a blind eye to sinful behavior.

I don't mean to be particularly active, but if anyone wants to chat feel free to PM.

Good luck to all.

I've only taken a cursory glance at this forum because the topic interests me and this seems like an aligned community of well meaning people. Given that, after seeing this thread on HEX, and knowing a thing or two about cryptocurrencies, I felt obligated to chime in. I do not believe there is any malicious intent of the original poster, but people who do not know much about cryptocurrencies in general should get all sides of every story. Crypto really is a sort of digital wild west...

Regarding HEX and Richard Heart, I urge anyone interested to please read this article (from 2017!):
https://imnotdead.co.uk/blog/richard-heart

If you want to go deeper down the rabbit hole read this:
https://medium.com/@TooWumboToFail/under-a-hex-396847b86e57

Although to save you time i'll just post part of the introduction, which is crucial:

"I have seen several articles that call HEX a Ponzi or Pyramid Scheme, both of which it isn’t. It has many features of these, but is unique in that it has so many moving parts, and complexities that these have helped to mask just how unethical a project it is. While it’s creator, Richard Heart, promotes the token as being “designed to increase in value faster than anything else in history”, and “do over 10,000x returns in under 2.5 years”, a deeper analysis shows HEX was designed for one thing only: to enrich Richard Heart himself, at the expense of every other participant. Even in a sea of ethically dubious projects, HEX stands out as being the most egregious, though perhaps the most clever. Not only will Richard control close to half of all HEX after the first year, but it is the first token I have seen to have its founder’s perpetual self-enrichment baked into the protocol."

You can decide the risks are worth it, or even that the articles are misleading, but please look at them before putting your money into a project like this.

Richard Heart has been in the space for quite some time. There is no denying he's quite intelligent. Coupled with his charismatic and easygoing confidence, it's easy to feel like he's on your side. But the token economics of this project vastly reward early adopters, and immensely reward Richard specifically.

Another relevant snippet:

"It is worth mentioning that there is an added irony to Richard implementing what amounts to a hidden 45% founder’s tax on HEX’s total supply. Over the years he has been a vocal critic of projects like ZCash that employ a far more transparent founder’s tax to fund development, viewing them as a disqualifying factor for investment."
"It is more staggering still when you consider how Richard presents the existence of Bitcoin whales as an existential threat"
"In reality, though, Richard has designed an ocean where he is the only whale, far larger than any other whale in any other project. The lone, unkillable Moby Dick of HEX."

Giving him the benefit of the doubt, the best case explanation is that he has thoughts about how others should run "serious projects" and yet got ahead of himself when building a pet project that has convoluted and purposefully-confusing reward incentives to make some money on the side.
In off beat moments in interviews you can tell that there is a part of him that understands very well that the vast majority of the crypto landscape is fraudsters and conmen trying to make a quick buck. After being in the space for a few years he said to himself "well why not me?".
Smart? Sure. Trustworthy? Probably not. Worth putting your hard earned money into? I'll let you decide. Caveat Emptor.