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HEX Publicity Stunt Exposed on Twitter
In a controversial tweet made on the 13th of August 15, 2020, Andreas Antonopoulos claimed that HEX offered him 10BTC to do an interview where he debunks all Ponzi allegations against them. At the end of the tweet, he asks his followers to draw their own conclusions. Let us weigh in on what we know about Andreas and HEX.
Andreas Antonopoulos is a strong bitcoin advocate, tech entrepreneur, and author. As one who teaches digital currencies at the University of Nicosia, Andreas is considered one of the prominent voices in the crypto and blockchain space. He studies computer science and data communications and distributed systems in the university college London. After a short stint in the research on computer security, his findings prompted him to make a change of interests.
How Antonopolous Became Interested in Bitcoin
In 2012, Antonopoulos became very interested in bitcoin. So much so, that he left his freelance consulting job and started speaking at conferences and writing bitcoin-related articles, free of charge. In a space of two years, in January 2014 he joined blockchain.info as the chief security officer.
Antonopoulos is not a man who is afraid of change. In September of the same year, 2014, he left his role as CSO and took u speaking engagements. He poised himself as a strong voice in blockchain and bitcoin technology that he stood before Canada’s senate committee to address senator’s questions on regulating bitcoin in Canada.
Mastering Bitcoin Book V/s HEX Supporters
In 2016, his book’s first edition, mastering bitcoin, was released in print and online. He has openly received unsolicited donations of over 100 bitcoins from thousands of followers of his work as a reward for his advocacy since 2012.
His tweet caused an uproar as strong HEX supporters came after him and accused him of attacking a promising crypto project.
Annette, an avid HEX lover who has this to say -Whoever approached @aantonop about doing this could be a marketing genius. They knew he may make this tweet…free attention for HEX that reaches 511 thousand people in the crypto space.
Cryptovincelol, a supporter who also had this to say- I suspect an actor wanting to play Hex in a negative light, as it isn’t the first time you have made this kind of tweet. The HEX community is very tight-knit with no marketing department and there been no mentions or rumors of this whatsoever, at least that I have seen.
Others who are not very confident in Richard Hearts HEX and its business model compare it with yams and bitconnect while predicting doom in the nearest future.
What is HEX?
HEX is an ERC-20 token that remits rewards to holders instead of miners. Holding the HEX token is like operating a fixed deposit account nut in the crypto version. A HEX user can lock up their capital and receive their investments with interest when agreements come to full term. Launched by Richard Heart on December 2nd, 2019, HEX is positioned to take advantage of the DeFi (Decentralized Finance) ecosystem in cryptocurrencies within the Ethereum network.
It uses the Ethereum network for sending and receiving HEX tokens. It allows a user to bid on his HEX coins or tokens to share the new Hex coin prices. Its design contains features that reward behaviors that encourage price appreciation, like staking a larger amount of HEX for longer periods of time and penalized behaviors that harm HEX prices like ending stakes early.
Even with a strong business model in place, HEX is still labeled as a scam by many. Prominent advocates like peter McCormack, the host of “what bitcoin did” podcast, and Vlad Costea a writer at bitcoin magazine have presented a wide range of arguments stating why HEX is a scam.
Some have compared hex to other cryptocurrencies that have failed over the years, like the yam, whose faulty base code led to its ultimate death. However, the HEX token has been surviving wave after scam allegations with a strong team and extensive marketing campaigns.
It is surprising that as HEX approaches the $1billion market cap the scam allegations continue to stay with it. The startup has deployed an aggressive marketing campaign with posters and branded materials all over the internet and cities where they have access to.
What makes Adaption of Hex easy?
While the Hex start-up sings its praises to the high heavens, here are a few things to note about every feature that is designed to increase its price and make its adoption easy.
1. If you send EH to the HEX website lobby, the tour percentage of that day’s total eth gets the same percentage of that day’s HEX.
2. Referred users to get an AA(adoption Amplifier) to get a 10% bonus minted, and their referrer gets a 20% bonus minted.
3. The stakes, shares, and price only increases to ensure that longer holders get paid better
4. More stakers means less circulating supply in a minimum of 1 day
5. The longer you stake, the more you make
6. Bigger pays better
7. Ending a stake to reinvest its gain does not pay more than having a longer stake
These features have been designed in the HEX codebase to ensure it stays viable for a long time. From afar,r HEX does not look like a Ponzi scheme or a scam, but things change within a minute in the world of crypto.
Allegations against HEX
The allegation against HEX has been weighing on a scale several times yet the crypto startup seems to be thriving amidst the challenges.
Richard Heart having admitted to using the same tactics Ponzi’s use to get users, such as referral bonuses and earning per referral; however, he thinks that the stigma around the Hex token is due to the strong tribal ties within the crypto universe where one is essentially loyal to one coin and very skeptical about another.
Of course, the incessant Ponzi allegation’s leveled on HEX could be affecting the price of their ERC-20 token. Records show that the token last peaked in May 2020 when the price shot upwards to $0,0006135. This surge gave HEX a total market capitalization of $968.8 million. As HEX continues to battle Ponzi allegations as well as opponents, the price of the HEX token has dropped since July from $0.0061 to $0.00267503 at the time of writing this article.
It is surprising that as HEX approaches the $1billion market cap the scam allegations continue to stay with it. The startup has deployed an aggressive marketing campaign with posters and branded materials all over the internet and cities where they have access.
HEX has stayed through to claim innocence, making an effort to simplify every aspect of their operations to the public. Richard Heart has openly called on anyone who thinks Hex is a scam to listen to him crush the biases.
As the controversial tweets continue to gain popularity, some users doubt if Antonopoulos is tweeting the truth.
The idea of offering such a popular figure 10 BTC for an interview seems obtuse and even comical at best. Some Twitter accounts state that perhaps Antonopoulos is being led into attacking Hex.
Your Verdict?
What do you think of Antonopoulos’s controversial tweet? Do tell us in the comment section
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