Topic: So Richard Heart is a Bitcoin ponzi scammer too? - page 3. (Read 1202 times)

I 101% agree on this tweet. lol

Its only purpose is to hopefully go up in value by attracting new suckers.

Its obvious to be a ponzi scheme but people who are aware of would tend to blindfold themselves and invest no matter what. I wont be surprised
if they would cry later on if this thing would collapse.

this guy has no conscience for making himself popular by scamming people, people really don't care if they lose their reputation for the sake of getting rich.

How did CSW grow his popularity? By having people so desperately trying to expose him as fakesatoshi. Richard's popularity grows the more people are trying to expose his scam.

So far we’ve established that Richard will likely make over $100 million in ETH and control 45% of all HEX after the first year. Unlike in Bitcoin where the high initial inflation rate quickly diluted Satoshi and other early adopters, HEX will only have at most a 3.69% annual inflation rate once the initial launch phase ends, so Richard’s stake will never be diluted. In fact, with the “Bigger Pays Better” bonus that pays large holders an additional 10% on their stake, his share of HEX will only increase over time.

There is an additional benefit the Origin Address receives, though, that may be even more significant than the benefit Richard receives from allotting himself 40–45% of the entire HEX supply. As the holder of the Origin Address, Richard gets paid half of all HEX reclaimed by penalties.

If you’ve only perused the Hex website, you might think that all of this penalized HEX goes to stakers, but in reality half of it is going to Richard’s Origin Address, while the other half is divided amongst the pool of every other staked participant. But remember: Richard not only possesses the Origin Address but will also comprise at least 45% of all the HEX in the staking pool after the first year. So say someone ends their stake early and is penalized 1 million HEX, Richard receives 775,000 HEX himself, leaving only 225,000 coins to be divided amongst the thousands of other stakers.

Unlike the bonuses in HEX, which expire after the initial launch phase, the penalties are a permanent part of the HEX smart contract. They will never expire, enriching Richard in perpetuity, sucking all the value away from you and accruing it to Richard himself.

I always figured Richard Heart was building up to something like this. He always seemed like a marketer intent on monetizing his position as an influencer on Crypto Twitter.

It reads like an "honest" ponzi scheme. In theory, you can make obscene profits, but there is no real basis for value and everybody is just openly waiting for greater fools to drive the market up.

All such schemes eventually collapse under their own weight. Richard Heart will profit handsomely, though, I'm sure. He's already up more than $3 million just from printing tokens out of thin air.

We're downright shocked how popular this HEX is given that it's clearly a blatant ponzi scheme. TPB should know better. Can someone could explain how a "Bitcoin maximalist" transitions to ponzi scheme promoter & supporter? #ponzi #HEX #scam #cryptoscam

I always figured Richard Heart was building up to something like this. He always seemed like a marketer intent on monetizing his position as an influencer on Crypto Twitter.