What’s the main use of Bitcoin? Well, most commonly it is used to store the value and none can do this better than Bitcoin. But according to the early adopter of Bitcoin, Richard Heart, there might be some other better way to store cryptocurrency. He look at it as there must be some better way to find exponential improvements in foremost years. So what is his plan?
Heart plans to launch an ERC-20 Ethereum token, named as “HEX”, previously it is termed as Bitcoin Hex. It can be considered as the project that will stay the same but the branding and color of Bitcoin will now be released. The idea is to build a smart contract into the utmost game theory rewards structure which the crypto industry would have never thought about.
According to Richard, the launch would take place by July 2019 or may be closer to it.
HEX is an ERC-20 Ethereum token that pays the holders and not the miners. The holders are encouraged to stake their Coins to have greater rewards, which is as same as to deposit CD in the banking world.
“Stake for longer, get higher reward.”
If we go deep and understand the project with due diligence, we may not find any kind of discrepancy with HEX and so the project will not appear to you as a scam. One reason may be that most coins are been airdropped for free to the Bitcoin holders. There is nothing like “buying in” early, mainly not for exchange purpose. For every Bitcoin hold, you will get 10,000 HEX coins. Hence if you want to put your hands into the Cryptocurrency world, you cannot start with Bitcoin Hex though.
What’s the date of HEX Launch Snapshot?
Well, for now, the exact time and date are not known for the snapshot. Airdrop will also take place after the snapshot took place, and the coins have been claimed by the people.
How to Claim HEX and why HEX could 1000x in coming Bull Run?
We must have the possession of Bitcoin before the snapshot gets announced. After the claim tool goes live, one needs to sign and also verify the Bitcoin and assign to their Ethereum wallets to reimburse the Tokens. Wallet could be Metamask or MyEtherWallet. At present, there is no listed price for HEX coin. The Bitcoin holders will get 50 weeks of claiming period where they can claim the tokens.
Richard has developed a model that can stake and lock the coins, which can increase the price of HEX exponentially. Let’s look at how things going to take place:
- After you claim for the coins TheHEXCoin.com, you will be provided with the chance to put your coins at stake.
- When the decision has been made by you to put your coins on the state through the HEX Website, there you will get the reward of more tokens. It just means that longer the period of your stake, more will be the HEX.
- After the staking, the period gets over, either you would want to pull your tokens back or re-stake them. In order to get all your tokens safe, you need to pull your tokens back otherwise if you forgot to do so, then the tokens will begin to lose every week and they will be shared between all other stakers.
- HEX is purposed to bring financial gains, which means that the builder needs to develop a very complex and highly sophisticated game theory which would stack against other short-term stakers, traders and sellers and for those who forgot to pull their tokens back, and reward the hodlers who pay attention to every time the staking period ends.
- Well most probably it will going to last longer and will benefit the cryptosystem and the HEX coin will going to become the most valuable among all the cryptocurrencies.
HEX and ICO, are they relatable?
No, not at all. There is no ICO because there is the only airdrop. The number of people who claim the tokens will decide the inflation of tokens and also in order to reward people depending upon how the game theory has been designed.
Richard’s perspective on HEX
Richard is smart enough to buy Bitcoin in double digits and he knows how to do marketing as well. He likes to study the crypto market closely. He has used his knowledge to make a coin which will go high and never come back to low. Well, there is no guarantee of HEX and neither has Richard promised anything about it. It’s just that we must know that it is all free money, and we have nothing to lose here.
Richard has great marketing skills. Before coming through Bitcoin and becoming a Billionaire, he had run a marketing company with the team of 150. He just knows A-Z of marketing and how to do permutation and combination out of it.
If we have any issues with HEX, Richard has got a point here. Many other projects also have airdropped free coins to the Bitcoin holders. If we talk about Ripple or Stellar, they did the same and now they are among the top 10 of all cryptocurrencies. Also, the HEX model is easy to understand if you are from the non-technical background too and you don’t need to go deep into it to get profit from it.
What more about HEX?
After the start of 50 week phase, spare coins are to be paid to the Shareholders. (Pretentious by the bonuses of LongerPaysBetter and BiggerPaysBetter) The graphs are expected to be the regular reoccurrence on stacks (before the bonuses) and beforehand ratchet, at 25% recovery (2.85M BTC, referred for 50 %, 50% of the pledge of free claims and AdoptionAmplifiers).
The percentage of people who don’t have the BTC in the snapshot and they target the large market to give the benchmark is about 99% of the world. Unrequested HEX is allowed by the AdoptionAmplifier, and it is paid to the stacker pool for users who sends ETH to the contract. They receive HEX at the end. Lesser coins are available through AdoptionAmplifier if many people claim it. This adds the benefit of a visible ETH / HEX ratio on a daily basis, in which the supply of available HEX becomes lower and lower if the static or increasing demand ratio is to increase.
For the traders and exchanges, this increasing ratio might be the mental anchor for traders and exchanges. The ability to upload to non-reseller users is extremely great. More on-ramps = more adoption. If you want to sell HEX, it is better to have ETH to sell on the stock exchange. In order to get more bonuses, auto-staking users of about 90% can choose from 350 days. To convert ETH into HEX, 10% Referee Bonus (Referral Pay Increases), people can be directed towards AdoptionAmiplifier transform system.