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JayDeerTay84
LSU Fan
Texas
Member since May 2013
8128 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

The OA owns a lot more than 45%. To pretty much everyone in Hex, this is a feature and not a bug.


Richard owns the OA correct?



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FnTigers
LSU Fan
Member since Sep 2021
75 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

What happens to the other half of EES penalties?
The OA (origin address). Not confirmed, but 99.99% sure it's Richard.

quote:

Richard owns the OA correct?
We don't know, but we know. lol
This post was edited on 9/15 at 10:20 am


Lickitty Split
LSU Fan
Inside
Member since Apr 2017
3152 posts

re: HEX (Blockchain Certificate of Deposit)
What can I buy with HEX? When will I be able to buy something tangible with HEX?

Is my whole investment in HEX based on the idea that someone will buy it for more later?


JayDeerTay84
LSU Fan
Texas
Member since May 2013
8128 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

The OA (origin address). Not confirmed, but 99.99% sure it's Richard.


You dont see a problem with this? I am 100% curious behind the thought process of a project with 1 man controlling this much.
This post was edited on 9/15 at 10:21 am


FnTigers
LSU Fan
Member since Sep 2021
75 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

What can I buy with HEX? When will I be able to buy something tangible with HEX?
What can you buy with BTC? What can you buy with SOL? What can you buy with Doge? What can you buy with ETH? You convert those to fiat using your exchanges.

quote:

Is my whole investment in HEX based on the idea that someone will buy it for more later?
Welcome to every single investment on the planet! People are buying it for 6000x times more than it was originally.


Ross
Auburn Fan
Member since Oct 2007
44838 posts

re: HEX (Blockchain Certificate of Deposit)
that doesn't seem decentralized or trustless, two mainstays of the crypto realm.

I get that Richard has no incentive to rug pull the whole works from a game theory perspective, just tough for me to swallow as an investor and HODLer in this space.


boomtown143
USA Fan
Merica
Member since May 2019
5538 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

What can I buy with HEX? When will I be able to buy something tangible with HEX?


So you’re only buying crypto that you can buy cloths, coffee, etc with?
Or are you asking if you can sell it and get fiat? Bc yes you can. Just like any other crypto.

[/quote] Is my whole investment in HEX based on the idea that someone will buy it for more later?[/quote]
So honestly, do you ask this same question with all your investments? Bc this applies to everything.

You buy btc based on the idea that someone will buy more later? Eth? Gold?



FnTigers
LSU Fan
Member since Sep 2021
75 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

You dont see a problem with this? I am 100% curious behind the thought process of a project with 1 man controlling this much.
Not at all. I invested more because of this. Do you invest in the top 100 cryptos? Because most of them (large percentage) are owned by a small amount of people. All it take is one of those to dump the price in those coins.

Also, I stated above. Why would a billionaire dump on his own product? He'll buy way before he'll ever sell. The OA has proven to be extremely benevolent. Unstaked to allow higher apy's for the staker class. He's diluting himself when he doesn't have to.


Lickitty Split
LSU Fan
Inside
Member since Apr 2017
3152 posts

re: HEX (Blockchain Certificate of Deposit)
I guess I’m not buying into it then. I like tangible things. My investments typically are in companies or strategies that actually make profits based on some work.

People can spend bitcoin. People can even spend shiba in a game. If there is no known use or perceived future use then I have no use for it.


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04
FnTigers
LSU Fan
Member since Sep 2021
75 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

that doesn't seem decentralized or trustless, two mainstays of the crypto realm.
Name some stuff you're in and we'll see how decentralized it's ownership is.

It's trustless. More transparent than anything else. Have you seen the front ends built? You know future supply. It's charted out for everyone. You know the dumpers, traders, holders. Everything is there to see.



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Ross
Auburn Fan
Member since Oct 2007
44838 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

Not at all. I invested more because of this. Do you invest in the top 100 cryptos? Because most of them (large percentage) are owned by a small amount of people. All it take is one of those to dump the price in those coins.


Right, but the Bitcoin network itself is decentralized and trustless unlike HEX (from my understanding). I don't have to worry if anyone if a bad actor because they won't be able to break the protocol. If a whale dumps, sure if lowers the price, but it doesn't break trust in the network.

HEX is definitely not completely trustless, I have to trust Richard (which I get why you do from simple game theory arguments). What happens if Richard passes away? I now have to trust the OA is passed to someone trustworthy as well. If the OA dumps all the funds wouldn't it ruin the project?

I hope I'm not coming across as confrontational, I'm just probing.
This post was edited on 9/15 at 7:42 pm


Lickitty Split
LSU Fan
Inside
Member since Apr 2017
3152 posts

re: HEX (Blockchain Certificate of Deposit)
If I buy a stock, I buy because the future growth will reflect in the stock price and or I receive dividends based on their performance. I usually only invest in things I like or think have long term staying power.

I have invested in crypto as a gambler. It’s just like going to the casino. Now if you can tell me I can spend my tokens somewhere outside the casino then it has intrinsic value to me.


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boomtown143
USA Fan
Merica
Member since May 2019
5538 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

I get that Richard has no incentive to rug pull the whole works from a game theory perspective, just tough for me to swallow as an investor and HODLer in this space.


So you don’t own Amazon, Tesla etc?

Think about this….when was the best time to buy BTC? When satoshi owned 99% of it.

When was the best time to buy eth? When it hit the market at Vitalik etc owned like 80% of premined eth.

When was the best time to buy Amazon? When Bezos owned 99%.

50% of a VC fund and founders of SOL still own their shares.

It’s non-sensicle to be honest


FnTigers
LSU Fan
Member since Sep 2021
75 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

I have to trust Richar
Do you trust satoshi, who is not public and hidden?

Richard at least puts himself out there and I respect that. I'm pretty sure you invest in projects that you have no clue who's behind it.

quote:

I hope I'm not coming across as confrontational, I'm just probing.
Nah man, these are great discussion points. That's what I love about good discourse.

quote:

If the OA dumps all the funds wouldn't it ruin the project?
What if Elon dumps all his TSLA? What it Bezos dumps all his Amazon? What if everyone goes to the bank right now and demands their cash? What if everyone puts their house up for sale right now?

They all go to 0. This applies to everything and every market.

ETA: Gotta run for a bit. I'll check back here as much as possible to continue the discussion.
This post was edited on 9/15 at 10:33 am


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30
JayDeerTay84
LSU Fan
Texas
Member since May 2013
8128 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

Name some stuff you're in and we'll see how decentralized it's ownership is.


Well BTC is POW. The network is secure and is decentralized. Its not really debatable. Even if you want to discuss "bag holders", its doesn't mean much given the security behind POW.

quote:

It's trustless. More transparent than anything else. Have you seen the front ends built? You know future supply. It's charted out for everyone. You know the dumpers, traders, holders. Everything is there to see.


From what I read, it is a bit more than that.

Richard profits on the way in and when you exit. He gets half of the penalties.

In fact, he could theoretically dump everything he owns which would cause a massive slide and when you sell, your penalties go back to him.



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01
dagrippa
LSU Fan
Saigon
Member since Nov 2004
10729 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

Richard was a billionaire long before Hex. Majority of crytpo founders that dump on peoples heads are the opposite. They don't have a lot of money. Richard doesn't need Hex to survive. Ever. He has enough ETH/BTC/USDC to live an unbelievable life. So honestly, he'd buy Hex and pump the price way before he'd ever sell it.


This is where you lose me. If you can make money on this great. Don't act like this dude is crypto Ghandi or something. I don't trust anyone IRL or especially the crypto space.


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11
boomtown143
USA Fan
Merica
Member since May 2019
5538 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

What happens if Richard passes away? I now have to trust the OA is passed to someone trustworthy as well. If the OA dumps all the funds wouldn't it ruin the project?


I’d be more worried about what would happen to eth if Vitalik dies. Bc they have to continually make “updates” to eth.

There is no changing the code of hex. It is a completed project.


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10
JayDeerTay84
LSU Fan
Texas
Member since May 2013
8128 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

So you don’t own Amazon, Tesla etc?

Think about this….when was the best time to buy BTC? When satoshi owned 99% of it.

When was the best time to buy eth? When it hit the market at Vitalik etc owned like 80% of premined eth.

When was the best time to buy Amazon? When Bezos owned 99%.

50% of a VC fund and founders of SOL still own their shares.

It’s non-sensicle to be honest


But Satoshi's bag was diluted within the 1st year and even more so now.

Richard will maintain his share. He can even sell it all and it will eventual go back to 45%+ based on the code. He would never have to buy another coin after selling it all and he will get 50% of all penalties etc.

Everything above you mentioned does not work like that.


TigerTatorTots
LSU Fan
The Safeshore
Member since Jul 2009
78030 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

This house of cards will crash one national level regulatory oversight steps in to protect the fiat currency.
This is such an awful, overplayed argument of the ignorant.


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70
TigerTatorTots
LSU Fan
The Safeshore
Member since Jul 2009
78030 posts

re: HEX (Blockchain Certificate of Deposit)
quote:

What can I buy with HEX? When will I be able to buy something tangible with HEX?
What can you buy with APPL stock? What can you buy with a paper gold note? Why do you need to buy tangible things with it for it to have value?


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