Hey everyone welcome back to another episode of the meet kevin show in today's interview. We are going to be confronting the founder of the hex coin. Richard hart, i'm super excited to bring him on. I want to hear everything that richard's got to share.

He says he will talk to me and answer any questions. I've got until i fall asleep, so i brought a monster and i brought a coffee brought to you by a stream yard, so shout out to stream yard link in the description down below all right. Folks. Welcome aboard richard how you doing i'm doing good, i'm doing very good awesome.

So i want to know. Uh hex coin has a lot of uh uh. It gets a lot of attention uh. It gets a lot of both positive attention and negative attention.

I want to make it clear up front: i'm not paid for this interview, i'm not an investor in hex or pulse or pulse x uh, and i want to understand from you. Why do you think hex coin has uh, maybe the mixed reputation that that some folks say it has and then how would you characterize it well, for the same reason that bitcoin did i was in bitcoin since 2011 i used to mine it on my own computer. I would just double click: an exe file on my computer and my fans would spin up real hard and a few times a day. 50 bitcoin would come into my wallet.

That's a quarter of a million dollars. So today's dollars guys, i think it's more actually so. 50 times 50k is uh, 2.5 million was off by a factor of 10., so you know, but the trick here is that back when i was doing that they were only 50 cents each. So now i'm bragging about getting 2.5 million every few hours, but back then you're getting 25 bucks, so you're really bragging about having 25 bucks and having held for a long time.

So in bitcoin, when i first saw it, i thought it was a scam. Oh, you guys are going to just print money out of thin air, that's not going to work, and then i saw - and this was i saw it on reddit when it was somebody sold their house for a dollar for it. I was like all right that guy probably just lost his house, so then i saw the wired news article where they were using it on the dark net and i was like oh there's a market, it's working, so i got in and i got into the top With everybody else, i helped make the top at thirty dollars. Then it went down to two dollars.

That's like a 95 loss. Everyone said it was a scam. I thought it was a scam, but now we find out it's the highest performing asset. That's ever existed in the history of mankind.

It went from a penny to 69 000, a return of 6.9 million fold, 690 million percent, and people are pretending like that, didn't happen. That was a long time ago that bitcoin has had a price since 2010.. It's 2022. Now that's 12 years, so you know you're making the analogy, essentially that that hex is maybe it seems like an earlier form of bitcoin, that hey look, you can still get hex now, 28 cents or or whatever right uh.

Now. One of the things you mentioned is that with bitcoin we don't print money out of thin air because we're mining it deflationary currency, limited supply. Oh no one! It's not! No! None of what you said is true. That's all entirely false.

Bitcoin is not deflationary at all. It is inflationary miners sell bitcoin, they harm the price, they buy. Electricity and mining hardware, so bitcoin's all about decentralization. But in fact, there's only five or six mining pools that do all of the mining and there's only three or four companies that make all of the mining hardware.

And those are the people that make all of the money from the mining. Because the economic theory that the cost or resources allocated to extract a resource will trend towards an approach, asymptotically the value of the resource and so as the bitcoin price ratchets up the wasting and destroying of the environment with electricity, which you could say, bitcoins 80 renewable Fine, i used to be a bitcoin miner. I know exactly how much i paid for my electricity and i know exactly how much pollution it generated. It wasn't clean energy so and then the idea that a decreasing inflation rate is somehow deflation is hilarious.

You're, just getting you're getting less inflation over time, but the value dollar cost of that inflation is higher and higher, because the price keeps ratcheting up because they keep on ramping new users. So people always you get this backwards. You described a cost and a negative externality which is bad for everybody, bad for the environment, bad for the price. But you think that it's actually a benefit, and so you got to know the difference between a feature, a benefit and a cost and bitcoin mining is a cost, that's bad for everybody and you don't need it anymore.

There's tons of proof of stake networks for years and they've all been less attacked and more secure than proof of work networks, and that's one of the big arguments that bitcoin maximalists will have is that bitcoin is much more secure uh, and that is why we have Proof of work, though, in the future, once we've mined all the lessons we expect to transition. What what i'm curious, though, for for um the difference in hex is that hex is uh a proof of stake coin and we do have a set inflation rate. I believe it's 3.69 percent. Can you tell me why? Why have any inflation at all then? If you're opposed to the mining style inflation in bitcoin, because you're essentially saying hey, the cost of the shovels are going up, so it's becoming more expensive to actually operate the network rather than less expensive uh, which creates more waste.

That's your argument: why have any information then in the next i think we've hit the uncanny valley, so it's it's like dunning krueger for smart people. Cryptocurrency and trading are two things that have very high skill caps and then, like 130 iq guys figure that they're good at everything else they'll be good at this, but in reality they're just good enough to be dangerous. So let me clarify some things. First of all, hex is not proof of stake; it is a hybrid proof of stake proof of work.

We use proof of work on the ethereum network for transactions and we re. We use proof of stake just for inflation because of that it's more secure than bitcoin bitcoins had two inflation bugs where anyone could mint as many free coins as they want. One of them was executed on the network in 2010 and they had to roll the chain back because someone minted 184 billion extra free bitcoin, the same bug created in a different way reappeared two years ago and was discovered instead of being exploited by a bitcoin cash Developer and responsibly disclosed to the bitcoin core development team. He not code touches available networking code.

So when you try and improve the network oopsie you introduce an inflation bug. It's the most common and vile bug in all of cryptocurrency. Xlm has had an inflation bug, hacker dumped it on the market. Ravencoin had a percent inflation buck hacker dumped it on the market by coin monaro, inflation bugs avax inflation, bug, bitcoin inflation, bugs you know how you solve inflation, bugs you lock your consensus code in a contract that can never be edited or changed, which is what hex Has done so that you can improve the network, all you want and you don't accidentally introduce an inflation bug bitcoin.org two months ago.

I appreciate it the examples uh just question for you well while we're on this, so i know that hex is built on ethereum erc20. So it's a layer, two solution: are you essentially suggesting that uh a layer two solution is hybrid because it inherits the the proof of work of ethereum or or could you clarify that maybe for the viewers sure you you can only mint inflation if you had staked And so inflation's proof of stake, but you can only also mint that inflation, if you submit the transaction to the network, which requires proof of work now all that will matter a lot less because i've already forked the ethereum network and it uses proof of stake. And you can go use the test bet right now. You can see all of your coins that you had on the ethereum network for free, the world's largest airdrop, by changing one setting in your metamask and then your keys.

You don't have to sign up. You don't have to do anything. Your keys already work on my network and the snapshot was from two months ago for testnet. It removes all of that energy waste.

It removes all of those negative externalities. It has higher throughput lower fees. It's it's amazing right some. So i'm telling you how it works now, but in two months that won't even matter as much see like it's, it's unmutable.

We can't change it. The only thing we can do is give people free coins on another network and then new users that on-ramp can choose whether to pay a hundred dollars to do a university swap a unit swap stop and twenty dollars to send in the rc20 or they could pay A penny on our network and i think the penny is a better deal so so to be clear, the proof of work you're talking about is the proof of work of the actual ethereum transaction, not anything to do. Okay, exactly so now. It's all you've also described it.

At least when you go to your website. You've described the hex coin as a top uh cryptocurrency certificate of deposit, potentially even the first and and maybe even only uh. Technically a certificate deposit is a savings. Account that's fdic insured.

Do you think that some people might be confused? Well, it depends on where you live, so the term certificate of deposit is only popular in the united states. Every other country uses a different term in europe and asia. They're called bonds in canada, they're called guaranteed investment certificates and when you put your coat at a coat check, you get a receipt which is a certificate of deposit. You deposited your code at the code check and so cryptocurrencies attempt to do useful things online in decentralized, trustless, 100, uptime ways and we make analog so bitcoin tried to be a peer-to-peer.

Digital currency failed entirely and then it tried to be programmable. Money filled entirely. However, it did digital gold really well and went up 6.5 million fold in price, which is a bigger market share and a bigger use case so congrats to all of us. So even though bitcoin failed entirely to be a currency, people still call it a currency.

It's called a cryptocurrency and it's even taxed as such, and thus when we try and make something that approximates a certificate of deposit in reality, there's very little similar at all certificates deposit. Your bank have very low volatility. The hex price has went up a million percent in 623 days and dropped 75 percent like six times, so it's extremely volatile, there's there's really no similarity other than we monetize the time value of money copying their parameters. So they give you 20 more interest every extra year you lock and we just copied that parameter and put on the blockchain, so so a different definition of certificate of deposit.

That's what i understand now on this locking my understanding is for for people to to earn their uh currently advertised about 40 uh yield. They have to stake uh, and these stakes come with lock-up periods, which i believe you need to uh. Maybe you can clarify this unstake or unlock at a specific time. If you unlock too early uh, you lose uh half.

If you unlock too late, you lose half. Could you explain this a little bit? What does somebody have to follow exactly to get their 40? You don't have to do any of that. The vast majority of your usd roi comes from the appreciation of the coin: the extra 40 year average 38. Currently, it's just icing on the cake, so, instead of making a million percent returns, having bought on january 5th of last year and sold three months ago, you could have made two million percent returns, but you'd have a an ex a uh end state period sometime in The future, so you don't have to end stake at all you don't you don't have to do any of that.

The vast majority, but let's say i wanted because sure, let's call the appre like i'm a real estate guy in in real estate. People tell me appreciation. Is speculative i want to know about the cash flow? What do i got to do to get that 40? You can lock up between a day and 15 years, which is 5 55 days roughly, and you choose your term. If you choose shorter terms, then you're going to pay more to gas fees.

If you choose longer terms, you get 20 percent more shares every extra year you lock up to that 15-year maximum. The issue is, if you at a bank, withdraw your money, early you're penalized in this system. If you withdraw your money, you're penalized, where does your money go? Well, it rewards the people that did what they said. They're gon na do i called it the truth.

Engine, and so we have the one of the most compelling things in this currency, is it monetizes the time value money it monetizes delayed gratification, which is the only long-term thing that works in investing or personal development? It has less negative externalities. I think i already mentioned that one and it has a chart of future market supply. You don't know when satoshi can dump on your head. You don't know when mount gox can dump their 140 000 bitcoin on your head, but in hex you know when people can dump on your head because they have a chart of releasing end stakes and then, when you create a stake, you can hit your end stake In a notch where no one else is unstaking reducing the volatility because there could be less sale pressure at that point, it's a very innovative feature.

Furthermore, i think it's nobel prize worthy in that there is no financial instrument, i'm aware of in the entire world that has caused people to lock up their funds for eight years on average period. If you get a house, you can sell it. If you get a t bill, you can sell it. If you get a bond, you can sell it.

If you lock up your hex for 15 years, you can't get out your principal for seven and a half. If you remove it before then you'll get hit in your principal. If you go serve, half you'll just lose your interest, but you'll get principal back. It's very fair! Your penalty is directly proportionate to how much you lied about how long you would stake and then, if, if you don't end your stake on time, you have a two week grace period.

Anyone in the world can call the good accounting function to stop you from being penalized if you're, hospitalized or if you're in jail or, if you might want to defer income and not have a taxable event. Look, not an accountant. Not a lawyer. Get your own financial advice, but if you don't mint your coins, you don't take dominion in control of them.

They just are sitting there locked and you run good accounting. You might be able to avoid a taxable event if you wanted to, but if you don't, if no one runs good accounting and you don't end your stake and it's been two weeks, then you start burning at one percent per week until there's nothing left after 100 Weeks so a couple questions out of this: is it possible that you could dump shares like shitoshi yeah anybody look the reason the hex price has dumped 75 percent six times is because it's very easy for anyone to nuke the price, and it's also very easy for Anyone to cause a price to go up, because what is what is the trading volume and order book thickness for a monet painting, nothing but their value skyrockets? Why? Because value supply and demand? So if you want the world's highest performing asset, you must remove liquidity on the ask side or you'll never get that type of appreciation. The reason that bitcoin is done so pitifully by the way i called the top on the day and that top call was good for eight and a half months now, and only out of profit one single day by about six percent, even less than six percent actually And i do that for free. I give away that knowledge for free.

I did the same thing last cycle. I think it was yeah. I think that yeah, that's funny. I i had a call in january as well april.

That's funny. It was a cpi day uh. What uh, aside from baseline, easy by the rumor, sell the news event? Amongst other things, there you go so uh. This is interesting because see according to which, which i think you all - and maybe you could speak to this a little bit too.

According to coin market cap, you've got a 50 billion dollar market cap, which i think you have a different definition, but solana has about a 55 billion dollar market cap the 24 hour volume on your coin. Hex is 29 million dollars. The 24 hour volume on solana is a hundred times that at 2.8 billion are you suggesting that this lack of daily trading volume is actually good for appreciation? Oh yeah volume is how you measure how much the users are being victimized, see you as a speculator. You don't make money on volume, you lose money on volume.

Volume enriches two parties, exchanges that want to see you causing volume to get hit with fees and market makers that want to see you causing volume to pay bid, ask spreads and fees but hold on speculators. Don't make money on volume? My my understanding - and maybe i mean this is where i just want you to fill in for for the audience, is that if i have higher volume, i have tighter spreads because the order book is larger. If i want to sell a hex and there's a lack of volume, then how can i actually get hex out? What you're suggesting is, if you want to take it out, you get punished, essentially so you're incentivized to keep it in. Is that kind of the reverse psychology you're suggesting? Well, no people just conflate all these things, so they conflate mistakenly that volume is related to order book thickness order.

Book thickness is how good order execution you get it's, how much slippage you have to pay, and so, if you go to matcha.xyz or one inch.io - and you say i want to sell a million dollars of hex right now, let's go. Do that real, quick! Let's go! Do that real, quick one inch dot, io, okay, so i've never heard of this exchange. What what is it? Oh sure, so? The majority of liquidity for uh ethereum, the largest thickest order books in the world, are online on chain they're no longer in centralized exchanges, which is beautiful, because this means that you can see who's buying who's selling. What else they own when they might have stakes ending? What they usually do when their stakes end it's beautiful and open and transparent, the most transparent trading in the world.

When you go on a centralized exchange, you don't know who you're bidding a guest, you don't know if it's exchange or in in-house marketing market-making team, you don't know whether they're spoofed bids that will get pulled to see you trying to get order execution. It's trash, centralized exchanges are garbage, they make you beg for your own money, they get hacked all the time. Billions of dollars have been lost to centralized exchanges, so the majority of hex trading is online, which is by the way why the volume number's so low, because when these other coins list on centralized exchanges, you know what they do. They get fee-free trading accounts.

You know what they do with their fee-free trading accounts, they put tons of bids and ask in between the spread and they do tons of volume. But the price never actually moves it's disgusting yeah. I i sense your frustration with with the market makers. I i i'm not sure i agree with with uh order book uh uh.

You know, with volume being i'm going to give you the math right. Now, i'm going to give you the math right now, but okay, but if you want to sell a million dollars of hex right now, one inch right, one inch dot io. This is your example right. Well, this is just an order aggregator, so there's liquidity, pools and uniswap and sushi swap they're about a 60 and 30 ratio.

Maybe another 10 bank, corn balancer, and what you do. Is you spread your order automatically using these aggregators like match that actually z or one inch dot io, which i have nothing to do with, and it spreads your order across all the liquidity to get you a better price, because otherwise you're going to push up the Price on one order book, then an r bot is going to come and sell down your high price, buy up the low price you're just making our bots rich. So aggregators stop our bots from getting rich and they give you more money because it makes you the art bot. So right now, if you were to sell 1.5 million dollars, a hacks you'd get three percent slippage.

If you were to sell one million dollars of hex you'd get to 2.65 slippage, do you need to sell more than a million dollars of hex in a single market order, instead of using a limit order and being liquidity yourself and earning that fee yourself? Well, i mean i mean i'm looking at your your daily volume. I mean this is this is almost similar to just saying one divided by you know the 24 or 29, whatever daily volume, you're about that three percent of of the volume. The concern so much is that look up the volume on one person go look up apple's volume compared to their market cap. Our volume to market cap ratio is very reasonable.

Okay, we can compare that. I guess my question is: if we, by the way, how much volume should you get on a coin, that people on average lock up for six years, are they going to trade it when they lock it up for six years, dude like hey? What happens is something that people only buy and they lock up for six years. Oh and has better security than bitcoin and by the way you can look at the price charts. If you go to look into hex.com, you can see the price chart from when ethereum launched when bitcoin launched and one hex launched and hex is just doing the same things they did at the higher inclination.

This is not how many people are staking uh like what percentage of your wallets are staking. I think only nine point, five percent, okay, which is why nine point five percent of staking. That means nine point. Five is percent is locked up.

So if ninety percent decided today, i wanted to sell some and our volume quadratic zero, we didn't have a large order book yeah the price would go to zero. As a matter of fact, i think you could drive the price close to zero. If uh. You know four or five wheels wanted to do it.

Isn't that a concern uh yeah? It is a concern. You know what else it's a concern in bitcoin, which drops 85 percent every three or four years ethereum which dropped 95, which hex never did and bitcoin, which dropped 65 percent in 14 days for covid. It's a concern for all cryptocurrencies, i'm the only person in crypto that tells you that all of these things drop 85 to 95, sometimes hex just dropped 80 percent a few weeks ago. Now it's up 250.

In the last 14 days. You want the highest performing asset in the world volatility. Is the price you'll pay? Okay, a million percent in two years, you're gon na have to pay a volatility price for that. It's an interesting argument, we'll we'll maybe circle back to it ready watch this.

You could have bought hex january 5th of last year, sold it on a double sold it on a double sold it on a double sold it on a double sold it on a double sold it on a double sold it on a double sold it on a Double sold it on a double sold out, a double or sold on a double again and then just be sitting risk-free with all of your extra profit like that sounds like a cnbc article, if only you would have invested a thousand dollars well, but they're. All true, like people say, there's no free money, it's a complete and total lie. Let me tell you all the free money. That's in crypto i got bitcoin for free by double clicking an exe 10 years ago.

People that were in bitcoin got hex for free. Two years ago, people that were in bitcoin got bitcoin cash for free xlm, for free byteball, for free uh and xrp, for free, oh, and by the way, hex users got one inch for free uh, oh god, uni swap for free people that used uh git coin Got uh gtc for free there's free coins coming out the ears. If you used uh that nft platform uh, i can't remember, what's called the most popular nft platform, they just had a free airdrop for those guys on solana. There's free money coming out your ears in this thing, but if you use the old logic that, if it's too good to be true, it's not you will lose millions of dollars of opportunity.

This is the one industry in the world where the old logic it doesn't work now, look it's full of scams, there's tons and tons of scams, tons and tons of rug polls. They go to zero all the time. Bitcoin.Org was hacked just a month or two ago, and i had to do a live stream because satoshi doesn't have the balls to do one where he's dead, so i have to save bitcoins users from bitcoin.org the core website. I'm the only one telling the truth in this whole industry, but then, when i do interviews, people come at me hard, like i'm scamming, i've been retired for 20 years.

I write self-help books. I do self-help. Videos go look at the oldest books on my youtube channel. I'm the giving tree, i call the top on the day for free, no paid group, i'm the i'm the best person in cryptocurrency period.

By far i've raised the most money for charity, 27 million, so far, you're being very transparent. With with the risks. I ask you questions and and you're transparently answering them. So so thank you, uh now and of course, it's up to the the users themselves to make up their own decision as to whether they want to invest or not.

Let's talk um, i want to just briefly go back to this comment made because i thought it was very interesting. I wrote it down, you said uh, you have this nobel prize worthy system of essentially being able to get people to lock up their money for eight years, where they can't take out their principle for seven and a half without getting penalized. Is. Is this attractive to people yeah? Very extremely! You see people i'll, tell you the secret to cryptocurrency case because i'm the most honest person in this industry, the only thing that drives prices up is buying and holding and you getting you to buy and hold, are narrative.

Memes and it depends on what memes you fall for you like pretty jpeg pictures, and you want to buy a serial number loosely related to a jpeg which may or may not still be hosted on the internet. Millions of people are falling for that one. The price goes up. Okay, maybe you fall for the throughput meme.

We need more empty chains. Okay, maybe you fall for uh via c or etc or hey. My new pulse chain has got four to ten times the throughput. Maybe you fall for that one, but in the end you falling for a narrative meme that never came true anyway, like programmable money.

You can't program to b you can't program bitcoin to wake up in the morning, can't program it to do anything. It's a joke like uh peer-to-peer, digital cash nobody's using it for digital cash. You got to wait sometimes three hours to get a single confirmation get out of here. It's a joke, but all that matters, oh by the way you can't use it anywhere either you can use it less places now than you could in 2017, but none of that matters.

None of those narrative memes that everyone thinks is so important matters at all. The only thing that actually matters is buying and holding and guess what there's only two people that get rich in crypto, the people that buy and hold, and the founders founders of exchanges, founders of currencies, people who buy and hold traders get wrecked. They get annihilated, they prov, they provide extra yield for the people that don't get wrecked, and so why don't just be honest about it and monetize it and pay people to do the only thing that works anyway, which says you know what they're going to inflate bitcoin To pay miners to destroy the environment, why don't we inflate hex to pay speculators to hold the price up, and then we defend the network's price, like bitcoin miners, defend the hash rate and you have less negative externalities people don't get wrecked by fees providing volume to Exchanges to make exchanges rich by the way is it a little disgusting that the coinbase founder made more money than founder of bitcoin? Did the coinbase founder made more than satoshi did and that's the opposite of decentralization? It's not it's not good. I don't imagine you're very bullish on the bitcoin lightning network, but so i'm not going to ask you about that garbage i'm going to ask you about ethereum 2.0.

What is that going to do to hex? Well, it's even going to happen it. It might not ever happen and it's very poorly designed and it's likely to have bugs and it's been delayed and delayed and delayed and delayed and delayed, which is the nature of software, but it's a little bit unreasonably delayed. So let me tell you with some of the poor design in ethereum 2.0, which may never happen and we're beating to market with our own features. Moving to proof of stake.

Awesome removes the destruction. Environment removes negative externalities, but they did it wrong. Oh and it helps the price, because miners aren't selling it down all the time to buy electricity and enrich weird mining hardware companies in the middle of nowhere. So that's all good.

The problem is that they introduce centralization and it's already cost people 100 million dollars. So to become an ethereum validator, you have to have 32 ethereum, okay! Well, that's 150! Grand! You got 150 grand, oh by the way, guess what you're buying a job you have to have 150 grand of theorem and run a server that never has done time or you get penalized. So you have to have always uptime if, if a cosmic ray bit flips your memory, you lose money, so you got to move your servers under water or under anyway. So the point is: what do people do? They don't want that job and they don't have 32e.

So they give their keys to somebody else and guess what happens when you give your keys to somebody else? They steal your money or they get hacked and your money's lost. So a company at israel, called fire blocks, was taking people's ethereum and putting it into the ethereum 2.0 staking contract that will give you yield and guess at some point in the future and guess what they lost everybody's keys. So what did we do in pulsechain pulsechain.com? We said you don't have to have 32 ethereum to be a staker and to be a validator. You can just delegate your votes to another validator and you'll make a cut of the fees and that's it.

And so now everyone holds their own keys and it's decentralized, and if this guy goes offline, you don't lose uh your entire stack. You know it's just a better design. Furthermore, we've got battle tested software that already works, and people have lost hundreds of millions of dollars to find the bugs and fix them when ethereum 2.0 launches. I bet you there's going to be some bugs that people got a lot of lose a lot of money to find and so we're beating them to the market with their own feature set, which is primarily higher, throughput and proof of stake to get more price movement Upwards and less burning of the environment - and you know our test now it already works and you can go see your coins on it right now and our main net should be in about two months.

So some of the things they want to do are great, but they just didn't go about it. The right way: okay, uh for uh nfts, which you mentioned folks, need to huddle for hope you, oh thanks. So much so absolutely. How do you relate then, to pulse x? Isn't that built on your network pulse chain? So so, basically, a good analogy is that uh pulse chain is a fork of ethereum that, oh by the way, it's only deflationary it burns, 25 percent of the fees, and it doesn't have to mint new coins to pay miners, even in ethereum 2.0.

They still inflate to pay the rewards, so we still have better toe economics, even if ethereum 2.0 was going to launch tomorrow, pulse x, so pulse chain is similar to ethereum. Very similar, like you know, almost bit for big copy with a proof of work, rotation and improved game theory in the tokenomics pulse x is similar to uniswap. It's an on-chain exchange that also burns fees and uh. It's it's unique in that, because we're inflating a million times the supply of eth when we fork it and just giving those to the people that sacrifice to support free speech in paul sacks, people can sacrifice to support freedom of movement and assembly.

Some rights. People forgot that we had and uh, then you airdrop all those people that sacrificed the free pulse x, tokens and so those guys are going to get because the supply pulse is a million x higher. It misprices all of the erc20s which are now called prc20s in the pulse chain, they're all missed price, because their market cap of the the pulse has inflated a million x. So you drive up the prices on the automated exchanges, a million x.

In order to do that, you have to add a thousand times more coins on one side and remove a thousand times, on the other side, a thousand times a thousand compounds to a million x, and so now the amm price. Fixer bot has a ton of prc. 20S, it puts those in liquidity on the pulse x, pairs and now you've got the most liquid fee burning, uh, exchange on that whole network, and then you mince an extra coin to provide incentive for people to bridge in their erc20s to back the value of the Prc20S and earn that inflating token as a reward which helps us reduce the ethereum fees by reducing reducing removing their users. Essentially you're you're uh, like you, said, a millionaire and then deflating from there.

But in this that's the hardest concept that we've talked about and i'm amazed that you actually got that like that's, that is the heart like. That is a really hard one to explain and congratulate getting that because i probably didn't do a good job explaining it. No! No worries, but i want to ask you uh and thank you, but pulsex is also going to have nfts and you don't like nfts, oh right, yeah. Oh, it's gon na look man every new chain.

That launches is filled with scams and we already see people using the pulse name to create their own scams on bsc pulse moon pulse, uh, chib, pulse doge, pulse whatever, like people are so excited about pulse that if you stick the word in anything, people are buying. It so - and i i hate that i like just because i'm launching consensus network doesn't mean i like all of the garbage that people are using it for so you know when's. The last time you saw the go ahead is: is this yours, the the? What is it calm? Yeah? It's it's just it's like stuffed, no somebody else's, and i don't like it. So this is somebody else's yeah.

I don't like it at all. Listen to me, they're gon na have a ten percent fee to get in and a ten percent fee to get out. So if you even ever buy the coin ever you've already lost twenty percent of paper. That disgusts me.

Cryptocurrencies are supposed to be efficient, which means reduced fees. How could losing 10 percent of your stack to get in and 10 to get out make any sense? It's an obvious ponzi scheme and then it says that they're by hand manually going to hand a third of their money to spacex at some of the point in the future. A for-profit company that may not even accept their money doesn't make any sense it appears. So that's wildly to be a scam to me, because i was going to ask you about that at all no like if you, if you wanted to see something that looks like a scam that looks like a scam, it's unfortunate, we have a similar name.

This is actually your website, which basically is just a placeholder yeah, okay right. So if you want to learn kind of what i mean, that should become a non-placeholder within the next 24 to 30 hours um. Well, that's soon! Why well a lot of people, for whatever reason really want to sacrifice before the end of the year? I'm not a tax advisor, but maybe they prefer to have less crypto at the end of the year. So getting the sacrifice, phase up and running before the end of the year is extremely important and it will be, it will be so.

Okay, so so explain that sacrifice is essentially you lose your coin, sending your money and you lose it yep it's gone and then you get, and maybe you get it back in the future. No, you get something for free and maybe that free thing becomes valuable. Now let me tell you why that's important if you get an airdrop, you owe money of tax. If you take dominion in control of an airdrop, you owe tax money and so air dropping you something.

That's valueless is really good for your tax, not an accountant but go go. Google, it yeah. So if you airdrop something at zero and you lock in your price of zero and you take dominion and control at zero and then it becomes wildly appreciative you're. In the same situation as satoshi, you don't own any tax until you sell depending on your jurisdiction right, some people never owe tax.

I would use things. I talked to a cpa on that one because it sounds like it's got wash sale written all over it, but then again we don't have to deal with that until december 31st. I don't believe so. That's interesting.

It's an interesting argument. You're making well there's other interesting things like, for instance, the 27 million that i raised for charity. I did that by allowing people to sacrifice directly to a 503c registered medical research charity, and then they gave a spreadsheet of you know what address caused, what donation and that's 100 tax write-off, and i and a lot of those people they might not have. You know sacrificed just to support free speech.

You know, maybe it's. I found a way i've raised more money for charities than anyone else in cryptocurrency, because i found an intelligent way to do it, and let me tell you what the loophole is. The loophole is that if a charity directly gives you something in exchange for a donation, it is not a write-off. So if you buy a ticket for an event from a charity, it's not a write-off.

Well, maybe maybe services might be, but definitely products are not, and so the idea that a third party is the one watching the state of the world and rewarding for you for doing something honorable is, is really unique and something i invented, and as far as the Nobel prize work, you think yeah it's important man because think about it! How much unfair taxation is going on in this world? Think about how much tax you pay you get taxed on the money that you get your employer gets taxed on, hiring you you get taxed on being hired, you both have to forcibly pay extra fees and then, when you go to buy a product, there's tax on The gas that delivered it to you there's tax at the point of sale. You know in the united states you used to be able to buy on the internet without paying local state sales tax nope. They got rid of that too. Now you got to pay tax.

No matter where you buy something from and they just ramp it up secret. I don't tell anybody: okay yeah, but i used to live in florida. I lived in florida for a long time. If you listen to my live streams.

You'll hear european sirens in the background. Sometimes so so puerto rico, you know, they've got a great tax structure in puerto rico and if you can move there and pay zero percent capital gains tax, i firmly suggest that you do so. So what um, why? Why is it no you're, still an american by the way puerto rico's in america, you get to keep it. This is true.

Why is it that uh you're not listed on coinbase kraken, binance you're you're on the d5s, like you know, obviously uniswap you mentioned that yourself sure and why is it that coin market cap seems to you know, have have this disparity with you on what your market Cap is they always have you above 200 in terms of rank coins what's going on? Why do they not like you, they're, a bad company and we're not the only people they're doing that too? There's lots of coins that they do that too. So back in the old days you used to be able to use exchange listing as a proxy for quality, and so you wouldn't want to rank things that would scam people and then you would use the filter of. Are they listed on a good exchange to try and tell where quality is, and i can tell you that brian armstrong, the founder of coinbase, the most highly funded and valuable, publicly traded, cryptocurrency exchange has personally said that listing on coinbase is 100, not a proxy for Value and they will list anything, that's legally able to be listed and they list a lot of trash, so they never updated their world view and they still use things like which centralized crap exchange are you on, even though crypto is made to get rid of all Those things to decide whether you get ranked or not. Furthermore, they don't even care to even occasionally we do end up on the front page of coin market cap, because they're so not good at their job, that they don't gatekeep us properly and every once in a while.

The engine sticks us where we belong on the front page. So if you, if you look at hex - and you say we have four hundred thousand staking addresses that are unique - and these people pay high fees now in order to become stakers, because the fees on ethereum are high. This is the most real metric by which well actually there's 400 000 addresses that hold, i think, there's maybe 80 or 100 000 staking addresses. I have to check the numbers.

You can go to hex dot vision and look it up or staker dot app. So what cryptocurrency ranking would we be if you just ranked our community or how many people have hex tattoos or how many people you see on twitter threads that are hexagons or how many millions and millions and hundreds of millions of dollars of market sells has tried To nuke the price and the buyers have just ate it all up, they don't care. You know when you go up a million percent people empty their bags and sell everything they can't handle gains that are that high, which is why almost no one made the 6.5 million x return of bitcoin because they thought they were smart when they sold on a 1X. 10X.

100X. 1000X. 100. 000X.

The million x guess what you sold it. A million x you lost out on this next 6.5 x. So you know, people don't realize, and this this concept of being illiquid be the liquidity set, a limit order. It's as liquid as you want it be, the price will never pass you by.

You will get filled before the price goes any higher. You don't have to pay slippage, you don't have to pay the bid-ask spread. You don't even have to pay gas. You can set limit orders on one in that aisle without paying gas, so you know they look at.

They look at this liquidity that you'd have to use for a market sell and they think that that somehow is equivalent to what the actual liquidity is. The actual liquidity for any market is offline. The vast majority of people that would buy a house don't have open orders for houses, the vast majority of people that would sell a house, don't have open, sell orders for houses and it's the same for stocks. It's the same for every asset and everything's gains on paper: everything what, if everyone sold all the houses at once, they go to zero.

What if everyone sells all the stocks and once they go to zero? What if everyone sells them gold at once? It goes to zero, which is why you have to use. This is what's talking about the dunning-kruger problem. You have to use probabilistic more advanced thinking. What is the probability that everyone's going to ruin the float and need to sell at once right, and you can see that it happens - 85 drops in bitcoin and ethereum in everything everything drops 85 percent against, except right right i mean.

Certainly, it would take a lot more people wanting to sell if volume were higher to affect the larger price change. Well, no, it's just those people are richer. It's the same number of people, they're just ritual people, so you know that only 42 did. You know only 2 000 addresses holds 42 of all bitcoin.

In fact uh. I don't know what the exact number is right now, but i'm going to come back and ask you about centralization as well, we'll pull it up, but uh. We know the satoshi wallets. They have a lot and some of them have been activating.

We've had quite a few large activations this year, so that is something people are looking at you're you're, not wrong about that uh. But i want to ask you this here. So if i pull up, i was told to be humble when i came on the show, i'm like ah nah, you're, fine, don't worry about it! Uh you! You do you so this is you on ether scan. This is the hex token sure, and if i click on the contract, yeah, uh and uh, whenever this actually loads there we go uh.

Why is there a little button here that says you're blocked by uh, partial or blocked by custodial stable coin providers like us, tether and usdc? That's not true. I don't know what that means. Oh, you know what that might mean so i'll tell you what i think it might mean. Erc20 standard behavior is that if you send coins directly to the contract, you lose them forever and no one can ever retrieve them.

No matter what ever and then people beg usdc and usdt to reverse those transactions on their behalf, because they can because they have admin keys. So i think what that means is that usdc and usdt either won't bail you out or something i don't know if you mouse over, maybe there's a tooltip, but the code works perfectly flawless for years and years and years. Okay, all right! That's interesting! We everything else around us has failed. We have had 100 uptime in the front end on the contract and the claiming 100 perfect flawless operation.

No one can possibly do better. 100 is as good as it gets. So speaking of 100 uh. How much of hex do you control? Well in crypto, you never tell people about your wallets, because maybe someone will hit you with a wrench attack and beat your keys at you now.

Luckily, i i don't have my keys in my head, so you can beat me with a wrench as much as you want, especially yeah. If you live in the united states, they do swatting on you, so they call the uh the local police force and say: there's a hostage situation at your team, comes and drops a addre on your infant through the window and kills your dog and discovers. There's nothing really going on, so i don't suggest that anyone in cryptocurrency or really the internet in general, disclose where they live or how much money they have. Even though i've got about three million dollars of watches sitting here for flexing purposes, um yeah.

So i i think what you're looking for is, i think the price will dub if it's centralized. So can you show me if it's centralized or not right so now, i'll just tell you about all the centralization i can find, because i think that will fulfill you. I want to talk about yours, not not the other coins. Well, i can tell you 50 of the supply went to an origin address.

Is that enough? Centralization for you, i can tell you elon musk owns 20 of uh tesla. Is that enough? Centralization well see people go, kill them keep going well. People people have these ideas that i have to de-educate them about. So people think that centralization and ownership is bad.

Now i just told you a minute ago that 42 of all bitcoin is in 2156 addresses 2176. Last i checked: is it been good or bad for price? It's been very good. Why? Because they don't tend to sell and we see the same thing in hex. We see whales that have hundreds of millions of dollars of ethereum double the price in a single transaction, and then they lock up their coins for 15 years.

They don't care about the money for them. They just want to feel richer kind of what i'm doing right. Like i've been retired for 20 years, what am i actually like? What am i gon na do buy better stuff, they don't make better stuff. I drive a ferrari.

I've got three million dollars of watches sitting here i get the best speakers best tv best, blah blah blah. What am i really doing with that money? For me? It's glory i'm in this to win. I want to be the best cryptocurrency founder and i think i am, and i want to have the best price performance which i think we already had and i want to have the best security and the best uptime. The best feature set total vertical integration.

I want the wallet, i want the consensus network, i want the value storage, i want all of it and we almost have all those parts. We have hex value storage. We have pulse chain consensus network, we have pulse x trading. The only thing i'm missing is fiat.

On ramps and wallet and metamask is friendly enough that we don't really need to address that. We really just need to fiat on rams and by the way uh coinbase or rather coin market cap is under lawsuit about them, miss ranking and lying about our rank. So you can look that up it's a public class action lawsuit from california. Is that filed by you or or by your investor, the hexagon community? It's a guy named uh.

I think his screen name is johnny chaos. But if you look up the action you can learn his real name and what's the status of that lawsuit? Now, where do you stand well, they've got served. You know they waited till the last minute to acknowledge that they were served and now it's uh in process. You know, okay, so because they're hurting the world they're they're, putting things on the front page that go to zero and rug, pull like yams, etc, etc, etc.

They funnel users into that, and then they don't put them into something. That's at 100 security and it harms the users. It's disgusting. Every coin, ranking site and advertisement site makes money on showing you ads and who pays for those ads.

Usually people are going to victimize. You like etoro.com etoro.com at the top of their website, says 67 percent of people lose money with us and they have the biggest marketing budget. You've ever seen in your life. They've got their name everywhere, and how do they get it by victimizing users? By making you increase the volume and pay higher fees or showing you coins that are actual terrible ideas and those are the guys that get a free pass and buy all those ads and who gets gate kept.

The people that aren't victimizing you, the people, that everyone wins there's only 30 days of people, maybe 50 days of people in the entire history of hex. That could have possibly bought a higher price on the prices right now period, everyone's in profit, except for a few little guys. Okay. So what about? How? How do you respond to, and maybe they're they're wrong, but i want your opinion on coin market cap, the top 100 hodlers of btc control about 13.5, according to coin market cap right here, 13.55.

If i go to hex, the top 100 holder, accounts control 46 and then there's also - which just part two to this - this that i want you to address both of them at the same time, uh there's also this talk about about a hundred, and seventy thousand accounts That were created roughly at the same time as your origin, wallet uh, that were then uh, essentially, air dropped uh a hundred to a hundred and one hexes. I think that there's been multiple air drops so uh. I think the first air drop was someone sent a quarter of a million addresses which were the richest addresses on ethereum 101 hex, which at the time was like barely anything right to try and get around the gatekeeping and the censorship? Okay. So when you're being gate kept by centralized scumbags that profit on victimizing their users, which is every news site and every ranking site selling ads to people that hurt their users when someone comes around to remove all the volume and get them to lock up their coins, So they stop getting victimized and stop making exchanges rich and stop making market makers rich and stop getting rug, pulled and exit scammed.

When that comes along, it scares them because we're gon na lower their profits, they're gon na make less money the more people that are on hex. So what was the question again? The difference in the top 100 hotline right yeah. So what you do is you've got to get the word out there and what's one way to get the word out, give people free money like you get coupons in the mail in the newspaper, you give them a little bit of free money. They take a look at what it is they see if they like it and then some of them on ramp and get more just like we gave away free, uh hacks to bitcoiners if they did a free claim.

This was somebody just giving away free, hacks uh to try and on-ramp users, and that happened months and months later, and then it was done again for people that were using the monarch wallet. We were the first people in the world to use layer 2, zk, sync zk, roll up technology to you to do an air drop vitalik was begging people to use zk in order to reduce the load on the network. No one would do it so hexagons did it and we were the first airdrop on the first users and still the highest erc20 balance on the zk sync wallet. If you go look at it, maybe they have usdc higher, but under usdc and ethereum the highest balance of any coin there, which means adoption.

And then, if you go in monarch wallet, you can see the zk sync balance. I believe it was also the first mobile wallet in the world to show you your layer, 2 balances. We innovated all that we invented that, but people pretend we're not kicking their butt. We're kicking everyone's butt.