HEX / USD COIN on Ethereum (F6DCDC...7B5824)Uniswap v2 (Ethereum)
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Please don't invest in this. This is a scam. Richard Heart is selling everyday as new buyers come in and "lock up" (stake) for 40% APY... Let's be real folks... that's just not how it works. That's fantasy land. Eventually supply will overwhelm demand and this will be 0.
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Selling Volume is picking up... Only a matter of time.
people said what you are saying 2019 and this shit is still going up like no tomorrow. but i have 1 question, how ETH mining in a year reword you with 140% of your capital in GPUs is ok, but 40% minting in a year with HEX prof of stake is scam >?
BLZcapital
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@Mansour_Alblooshi, I don't know enough about the ETH mining question so I don't have a comment.
But what I do know is Supply/Demand.
So lets look at HEX. 200B market cap but only 100M in daily volume. Please go look at any other coin similar to that market cap... The daily volume is in the billions.
All Richard Heart did here is sold you stakers on a broken dream. The reason price is going up everday, 99% of all who are getting involved are staking. We know this by looking at the volumes. A coin with that big a market cap, should be doing 30x the volume it is doing. It has no one shorting... No active sellers at all.
Richard will respond, trading is how people lose money, exhanges are not on your side... Reality check, this is markets. The only way you get paid, is when you sell to someone else. The problem is Richard has created a market that isn't active. The realty of markets is you need liquidity & most participants will lose money.
Eventually these stakers will become sellers and you will see the price go to 0, very very quickly.
This is just a much better designed Bitconnect. Good Luck sir.
Since82ny
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@ChartTrader360, By your logic Apple is also a scam, its daily volume is only 74 million but its market cap is 2.5 TRILLION. Every time these HEX scam accusations come they always are filled with absolute nonsense to try and make a point. Stakers are sellers all the time, if you had half a brain you could see this on Etherscan where they sell their interest and re-stake their capital there are people selling $600-800k worth of HEX for USDC all the time. There aren't alot of active sellers because people don't want to sell and more people want to buy. Reality check, you don't know anything about what you're talking about and are just parroting other people who are always constantly wrong about HEX. Another thing you're wrong about, the OA address has never sold one single coin.
BLZcapital
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@Since82ny, Comparing the most profitable company ever to a worthless coin that pays 40% APY hahaa.... I can not wait to come back to this post.
Keep buying HEX so Richard can buy a new Louis V bag.
Since82ny
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@ChartTrader360, I'm using your ridiculous logic, and now you say "oh but this is a profitable company, haha". I could care less what another man buys.
BLZcapital
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@Since82ny, You are brainless. AAPL has existed for how long now.. It always hasn't been this way... & you can go to times of very high volatilty were AAPL completly squashes your thinking.
Look at that candle on July 20 for HEX... 33Million for volume on the day... And that caused 50% drop.. 33million is NOTHING. Imagine what happens when these stakes start maturing. It's over.
All of crypto has been going up, obviously that looks like it may be over. Bitconnect failed a few weeks after. Not sure if that will be the case with HEX, But I am certain most people will lose everything.
Since82ny
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@ChartTrader360, You’re the one using brainless logic and now using all kinds of excuses to justify your point.
You clearly do not understand HEX. First of all staking is OPTIONAL, if you’d do two seconds worth of research you’d know that before posting this nonsense. Secondly there is only 60 million HEX left to buy on Uniswap, THIRD, Stakers have been selling left and right, people have bought cars, homes, vacations, why don’t you check twitter #Hexflex and #HEXboughtthis at least before calling something that you clearly do not understand a scam. You will be added to the two year long list of people who keep saying HEX is going to 0… You aren’t the first and you aren’t the last… too bad you can’t short it to put your opinion in the market.
Since82ny
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@ChartTrader360, Do you know why Bitconnect was a scam? You literally gave your money to them a3nd they promised to get you returns from the work of some trading software. It was a classic ponzi, you get promised something from the work of others.
In HEX you get no promises, you are not promised 40% APY, the average APY is 37% and it drops as more people stake and share the inflation. Secondly this is only if you stake for over 10 years with a certain amount. I have a stake ending the 21st of this month and it only earned around 13% because it was a 6 month stake. So no, all stakers are NOT earning 40% APY… You really need to do more research.
You interact with written code on the Ethereum blockchain, if you choose to stake, your coins get burned, and you get shares of the 3.69% inflation that HEX does. HEX is the same as Bitcoin but instead of buying expensive hardware to be a miner you can get T-Shares and earn some of the 3.69% inflation.
A large whale can Stake enough HEX to get 500 T-Shares (One T-Share coats around $8,343 in HEX) to get) One T-Share pays around an average of 5.7 HEX per day. This whale can stake for just one month and earn 500(which is about $1.8 million dollars in HEX x 5.7 x 30-days x the price which is currently $0.45 So that’s
500(T-Shares) x 5.7(in HEX per day) x 30 days x $0.45 that equals. $38,475 this whale earned. The whale can then dump the interest and keep his principal and stake more…. This is what the majority of whales do and this is how the system calculates “interest”
Once again there’s only 60-70 million HEX left to buy on Uniswap once that dries up available HEX can be supplied by people dumping coins. There’s at least $15 million USD limit orders that I know of so no, HEX ain’t going nowhere near zero.
BLZcapital
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@Since82ny, Yes HEX is designed much better than Bitconnect, but it will end the same way.
& all the whales on Bitconnect did the exact same thing you are talking of the whales doing now. Craig Grant was his name if I remember right and he was living off interest. You can still prolly find the youtube vids of him pulling his interest out.
But let me ask you this... Who is paying for that 13% that you got on your stake?
And my point about the 20billion that is collecting interest is just more supply that will have to be ate up. It has to be sold eventually.
BLZcapital
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@Since82ny, My point with your 13%. Sure, it's interest in HEX but at the end of the day it will take more dollars because of that interest for the next buyers to get involved.
At the end of the day, you need liquidity and demand. Sure, HEX has demand now, but nothing just goes straight up forever.
Like I have said in other posts, eventually it's time to cash in. Looking at current volume in HEX that will not support. And when price does collapse, it will just need that much more demand (a lot of new buyers) because everyone staking now will be accumulating more HEX, which they will sell every uptick they can to get something.
So one may say, lower the interest... Than no one will want to be involved with this anymore, buyers will dry up.
I wish you the best, I hope you can get your stake converted to dollars. At the end of the day I think thats what many Hexicans are missing. It's not about how much HEX you have... Its converting it to dollars.