Other Coins - Price & Trading topic

Hex has yet to prove it’s not a scam IMO. Popcorn ready.

Hex is an immutable blockchain contract that is in direct competition with Bitcoin - the only thing it does is store value by monetizing time.

The average time for which people have staked Hex is 5.7 years, and it is very clear to everyone who has staked that he will receive more hex and accordingly speculate on the fiat price of the token.

We live in a world where money is printed out of nowhere and people exchange that money for color pictures with the face of a dog. In this world, Hex is better than other contenders for a custodian of value.


Privacy. Security. Freedom

We also live in a world where folks throw up fancy numbers (and colors) with speculation and expect results. Hopefully the folks who invest in hex will get what they signed up for.

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Don’t worry friend, if they get it, everything will go for something that brings real value in our world - the Safe Network :love:


Privacy. Security. Freedom

No worries at all, I’m not into hex. But I am into Safe and I do believe in this project can bring real value and change in our world when it’s delivered.

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I’m glad I didn’t have a drink in my mouth when I read that
shaq-inside-the-nba

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At the conceptual level, Hex and Bitcoin are very, very similar:

HEX is like Bitcoin with a proof of work change. BTC and HEX are analogous. Bitcoin and HEX are peer to peer networks that store and transmit value. In Bitcoin, miners buy mining hardware and electricity from companies. In HEX miners buy HEX from other HEX holders then use time to mine. HEX is Proof of Wait instead of Proof of Work.

Inflation Incentivizes Behavior

Bitcoin Inflation pays miners.
HEX Inflation pays stakers.

Incentives are Divided Up

Miners mint new BTC by their % of the total hashrate.
HEX stakers mint new HEX by their % of the total shares.

Keeping Score

Bitcoin mining = HEX staking
Your Hashrate = Your Shares
Difficulty = Total shares
Buying more miners = Share price increases
Block reward = Inflation + Penalties

Network Protection

In Bitcoin total hashrate is value invested in the protocol, it protects against 51% attacks.
In HEX Share marketcap is value invested in the protocol, it protects the HEX price against selling.

More here: Bitcoin & HEX: HEX.COM: The first high interest blockchain certificate of deposit.


Privacy. Security. Freedom

I am not going to read the complaint but ffs, maybe we should sue people who called us a scam, or who won’t list maid or don’t believe in the project. :rofl: if we did that I would certainly see this as a scam.
Who else litigates constantly, faketoshi.
Let’s get real.

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HEX seems to have more in common with Bitconnect.

Time will tell. My prediction is that Hex will continue to exist and grow, but anything is possible. It will certainly be interesting to follow the case against CoinMarketCap - Hex is not the only token placed manually on third page…


Privacy. Security. Freedom

It might continue to exist and grow, the world is not always a rational place. HEX main pusrpose seems to be to make Richard Heart rich. It seems to be some scam like things going on with HEX supply, if that is the case then CMC is doing the right thing. Also by locking in so called “stakers” from selling, that means Richard Heart can cash out quick to a relative a higher price.

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They are up to 6 million in trading volume, 90% of tokens unlocked. 80k Twitter followers.

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Protection for investors, Gensler says…whatever. If he has his way, I’ll lose far more money than I’ll ever lose in a rugpull or volatile market. Who’s gonna protect me from the SEC?

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There was no way ever in any realm of fairies or dragons that the US would not fight tooth and nail to protect the dollar.

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Who is going to protect us from Tether, that question may be 10x more relevant soon.

…and any other fiat currencies, are just stable coins implemented in old world technology.

                 -- Some dude on the internet.
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Any thoughts on UST?

I wonder if it is immune to interference.

But backed by an entire economy of goods and services and not some Evergrande fraud bonds.

Someone made a claim re-tweeted by Bitfinexed that there should be traces if 30 billion dollar corporate bonds were bought on the market. That one logical solution to which market could have swallowed 30 billion worth of USD bonds without a trace is China and a possible Evergrande connection. But USDT have been debated a long time, when\if Evergrande defaults that might bring answers into the light.

I have no clue on what might be true but the risk that USDT is backed by bad bonds seems significant.

I think we are talking about opposite things.
UST (Algorithmic Stable Coin aka Luna) is a new stable coin that is pegged by arbitrage not backed by anything like dollars, I am only just learning about it. The goal from what I understand is that it is the decentralized stable coin looking to replace the likes of Tether.
It is growing at lightning speed.
Was wondering if you have looked into it or have any thoughts on it in particular.

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No, sorry, I thought you may had misspelled USDT. :slightly_smiling_face:

In general all stablecoins have problems like are they backed to what % and with what. They need to be full transparency, trusted third-party verified and released by an trusted organisation.

I don’t know if arbitrage an algorithmic coin UST seems like a good idea, what makes you believe that stablecoins value?