BitcoinHex - Interest on your Bitcoins on the Ethereum blockchain?

in bitcoin •  13 days ago

Today is the second time I came across BitcoinHex... Last week someone mentioned it at a crypto meetup here in Chiang Mai, and everyone ignored it and moved on to other topics because we had never heard about it and dismissed it as just another sh&tcoin.

Now I came across it again on Twitter and I checked it out. It's created by Richard Heart - someone, who seems to be pretty well known in the crypto space, though I had not really heard of him yet. He looks a bit like a multi-level-marketing guy, to be honest. At least that's my first impression ;)

There's a video on the BitcoinHex website where he explains the whole thing (fast forward to 7:25min).

Screenshot 2019-02-03 at 11.44.50.png

I'm not sure what to think of it. He talks about store of value, and that he thinks this is the most important thing about cryptocurrencies. It seems the whole point of his project and his BitcoinHex coins, is to pay you interest on the Bitcoins you hold, and therefore make hodling more profitable.

So on one hand we're being even more incentivised to never spend our Bitcoins... I don't really think that's a good thing.

On the other hand - just because we're getting these BitcoinHex coins for free, doesn't make them valuable in any way. What are we going to do with them? Are they going to be a proper currency, that we can exchange for something we value? Only if lots of merchants begin accepting them. But why would they?

Lots of question marks...

In any case, we will be able to claim our free BitcoinHex coins soon. Apparently it's important to claim as early as possible in the process.

There is a whole underlying theme of FOMO and also greed going on here. I think that's what rubs me the wrong way about this, and gives me this slimy marketeer feeling about Richard Heart. Maybe I'm doing him wrong. But you know, first impressions.

Also this headline: Would you take Satoshi's coins? No, I wouldn't. They don't belong to me.

Screenshot 2019-02-03 at 12.16.27.png

On the other hand, what if it turns out to be a brilliant idea, regardless whether I like the guy who came up with it, and the wording on the website? I mean, I never met Satoshi, who knows what he was like? ;)

You just never know. The crypto space is just never boring, is it? :)

So, check it out and make up your own mind about this. The claiming process will start in about a month or so. It's all explained on the website. I signed up to their newsletter, too, to stay uptodate and learn more.

Let's see how this unfolds. Maybe this is just another InitiativeQ thing :)

Please comment if you know more about this.

About the author:

Anja Schuetz is a cryptocurrency mentor for absolute beginners, with specific focus on women and non-digital natives. She also consults as a Customer Communication & Operations Manager for blockchain start-ups. Sign up for her Free Bitcoin Beginner's Course and her Conscious Crypto Museletter here:

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You still promotes your ref link quit aggressively so that makes you a markting hog to. He may have owned marketing bussnieses. That do not stop him from making a great product. It is basicly CD(Certificate of Deposit) on blockchain. Nothing fishy at all, just free money. You need to put in work to earn intrest. Put a reminder when to claim your funds. Or you could write a bot that does it all for you. This is this is top notch game theory. Claiming is done with a signing of a message to prove you own the bitcoins from the snapshot. So it is a no risk airdrop. Smart people has allredy pre-claimed the tokens, you need som inight in to how wallets and the protocol work to do so. The tokens will have value if people understand that locking up funds in this contract is smart whay to hedge the market. If you are crazy smart you can evan do a by in from fiat before the snapshot and short bitcoin to secure dollar value and sell your bitcoins after the snapshot.

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