I am sure you can make money with Richard Heart's stuff but I don't trust this guy. He seems like a bullshit artist to me. Time will tell...
https://wantfi.com/richard-hearts-hex-token-is-a-brilliant-scam.htmlHex is a token on the Ethereum network executed by a smart contract and the website advertises itself as a place to earn 40% per year with “certificates of deposit.”
You think that the 40% per year “interest” is your first clue that this is a scam?
Hex.com claims that two different auditors have audited the contract. But what does that really mean? To a layman, they might think that the statement means that a professional auditor like PricewaterhouseCoopers came in and reviewed it and found out it’s not a scam, or something to that effect.
But that’s not what it means. Auditing in crypto-land is evaluating the computer code for bugs. Having sound code doesn’t absolve it from being a scam if the code is written to be… a scam.
Hex bears a lot of similarities to the Bitconnect Ponzi scheme that failed in 2017. In fact, it’s almost as if the scammer behind Hex used Bitconnect as a springboard to make an improved scam. Hex has been very careful with marketing language and product design features to both appear legitimate and to avoid legal trouble.
The website even has an entire page on Hex dedicated to why the product isn’t a scam and generously educates the reader on what technically constitutes an illegal Ponzi scheme and a Pyramid scheme and why this product doesn’t qualify.
Usually legitimate investment products don’t need an entire section educating you on scams and why their product doesn’t meet the technical requirements.
I think this page is actually targeted towards any SEC or financial authority law enforcement officer that happens to come across the product rather than everyday readers.
It may not fit the legal definition of a Ponzi or Pyramid scheme only because this is the first time in history that the schemer has controlled the seigniorage that victims were receiving as interest. The scam wouldn’t work if the advertised returns had to be paid in any other asset that Hex didn’t control.
And none of the Hex scam rebuttals negate the fact that the whole premise requires luring others to buy in.