Bitcoin Hex - Owner Stake/Vendors?

Hey you, welcome back to the channel. And guys, today we want to talk a little bit about the latest Bitcoin HEX interview. We're going to get into the owner's stake in the Bitcoin HEX project, and we're going to talk a little bit about maybe if there's ever going to be a future where Bitcoin HEX might be used, um, it might be accepted for various products and services. Like of money. So, uh, interesting video today. So sit back and, and let's get into it. So, uh, Bitcoin Hex latest interview was, um, conducted between Richard Heart and, um, I believe his name is Dave Levine. Um, not 100% sure, but I believe that is his name. And I have seen him probably as well as many of you. Uh, he's been doing a variety of cryptocurrency videos, interesting videos, He has a very interesting way of presenting materials. And so I had caught some of his videos and, you know, today I would have to say about this person, Mr. Levine, that he conducted to me the best interview for this project. I thought it kept to pertinent information, stuff I really wanted to know about that was going to be relevant for what this token is doing exactly. And I thought his focus was a great deal on that. It didn't lead off— see, a lot of these other interviews that we've seen, they kind of lead off into, um, coin development, why coins are valuable, and this and that. Uh, you know, I think we've been down that road many times, and, uh, at this point I just wanted to know relevant, specific details about the Bitcoin HEX project, you know, not other coins, or not what people perceive in their minds a coin should be or what it should do, and for whatever reasons. And the reason I'm, I'm saying it like that is because I think, uh, Mr. Dave Levine here, he did, he did a great job of getting to, I think, important details about Bitcoin HEX itself, right? Covered, uh, more into the owner stake Um, and I, and I thought that was important because it has come up. I've, I've had some people in the comments section a little bit up say, go, hey, what are you pushing now? Education, entertainment, TV? Uh, you're telling us of this coin that people are owning 40% of the coin is a good idea. What about your distribution, uh, uh, philosophies and, and a variety of things? So we're going to talk a little bit about this because This is a great interview that you got to— we got to learn a little bit more about that. So, um, in the interview, um, there is certain, uh, there are certain— there were certain details that came up about the math for the Bitcoin Hex project and exactly what the owner's wallet would, would hold or, or would own. And, um, you know, it came out that it's very unlikely it's going to be more than 50%, that it might be around perhaps the 40% range or something like that. Could be less, uh, you know, it's, it's math involved in the, the structure of how Bitcoin Hex works and how the staking works and a variety of things that, uh, smart mathematicians smarter than me could probably figure out. But some people have said it's probably going to end up being around 40%. So we want to talk a little bit about that today and talk about what that means exactly. So, uh, is it bad for a project to, to own, or the creators and the founders of the project to own numbers like that? And what does that mean for the distribution? So, you know, there are a few things we have to consider in that. So the I think first what's important is we have to understand that projects— whether you start a project, a coin, or whatever it is, business, uh, these things cost a great deal of money, right? In some cases, somebody had to come up with the time, the idea, the energy, the money, the development team, the marketing. Somebody had to come up with those things to make this a usable product and make it available to us. So I, I guess I would ask the question then, is it bad that the founders and the creators of the project are in some form compensated for their contribution? And how much is their contribution? Who gets to decide that, right? Um, and so All these things have to be taken into consideration, but based on the value that goes into the project, the time invested in it, the energy invested in it, it is plausible that it could warrant certain large amounts of stake, maybe over amounts that we would like, that may still come off or could be seen as being fair, right? And I'm not saying that's true in every case. You know, we, we know that some people will just find a way to rape a situation and get as much out of it as possible, whether they've earned it or not, whether it's that valuable or not. But I think that, uh, we do have to take that into consideration. We have to determine if, you know, if that's always going to be a bad thing. And so we've taken a look at several other projects that where the founders or some sole entity owns a very large amount, you know, astronomical amount, if you, if you want to say it like that, of the project. And so generally, you know, we might, for example, look at, you know, a lot of first thing comes to mind for a lot of us is Ripple, right? So Ripple, I think it's like over 60% And there are several others, um, and, uh, Ripple has made it to be in the top, the top, the second largest cryptocurrency. I mean, I mean, they've even, uh, bragged that they could overtake Bitcoin, right? Uh, that, you know, through sheer will they could push Ripple to that pinnacle. And, and, uh, some say where there's a will, there's a way, but However you look at the situation, some people would say what's happened with Ripple, I don't think people who invest in Ripple, in fact, looking at it for what it is, it's kind of sending a message that the entire cryptocurrency space as a whole, I know some people who are anti-Ripple, but I mean as a whole, statistically, looking at what they've accomplished, some people would say that that shows the cryptocurrency space has no real issues with, uh, entities owning such a large amount of a project. Um, of course, now with that said, there are dangers to this. Of course, you can have a dump, you can have price controls, uh, even if the person doesn't sell, if they just hold the tokens, it's still a form of price control. If they dump on your head, you know Of course, that's going to be a problem. And, uh, so all these things go into this consideration. However, when we get to the end result of that example, we still end up with a situation like the Ripple and the XRP token that is— it would be very hard and difficult in the cryptocurrency space to suggest that it is a failed project, that it's a bad project, right? right? Um, as far as the, you know, as far as where it ranks in the cryptocurrency community. Um, so is Richard Heart's project then, you know, would it be fair to put it in the same, through the same lens, the same scope? Yes, sure, why not? Why, why not? I, I think so, because, uh, you know, in the cryptocurrency space, it's basically like Once a coin goes down a road with a lot of people who supported and back it and the community accepts it, whether we feel it's a good idea or not, the tribe has spoken, right? And so personally, I'm not a big fan of large stakeholders in the entity. I think it can create more problems than it solves in some cases, but I understand that if a lot of research and money and value goes into a product from said sole entity, that it is right that they are able to benefit from that project more so, and a great deal more so depending on the nature of the product or the project, uh, than the end users such as myself and many others who are commenting about it coming in and somehow being able to maybe reap as many rewards, you know, collect as much money. And, and, and so we have to think of it in, in those terms, I think. Um, so a lot of other great things came up about this project and Bitcoin forks in general, uh, being in the top 10. And I thought that was very important, that the branding of the Bitcoin name— some people think it's a mistake that maybe Bitcoin Hex shouldn't have the Bitcoin in there and that it should be changed. I don't think it should be changed. I think Richard Heart has, um, maybe thought about once it takes off, you know, of course he's very intelligently looking at the branding and the marketing attached to it and of course bringing in the Bitcoin holders. But I think that the Bitcoin branding is still so good and I think that's a reason why Bitcoin forks have performed so well. My personal opinion is leave it in there. I think it's fine. Yeah, it's not, um, it's working on Ethereum. It's not technically, uh, you know, really connected to Bitcoin in that fashion besides, you know, uh, some degree of the ledger being, uh, imported into the project, you know. However, um, You know, I think it's a good branding idea. And, uh, you know, again, I've defined Bitcoin forks before in several other videos, and there is a very— there are several types of forks, but there is a very standard basic definition that goes something like any project that to some degree uses the Bitcoin ledger can be considered a fork. And that's what the Bitcoin Hex project is doing, so it could be considered a fork. So again, just a great video, guys. Uh, well interviewed by this guy. Some people had a problem, thought he interrupted too much. I think it's just his, his style. I've watched some of his other content. Uh, it seems to me that he was trying to just cut to the chase on pertinent information. I'm, I'm not upset about that. Sometimes might just be best to just stick to what we need to know to get excited about this project. And, uh, and As far as an update, looks like it's pretty much, uh, gonna come out around pretty much the same figures, uh, Richard Hart's been talking about. You know, whenever you're starting a project from the very beginning, uh, you want to— it takes time to develop it and, and get all the kinks out. And so it's going to be testing over and over again. He wants to make sure that this works well, so we have to be a little bit more patient. But then talks about You know, some of this touches on some of the same important details. Guys, it is free. You're never going to be able to be free. I don't care what you come up with. I don't care what you say, how much a coin is going to moon from the price you bought in at, whether it mooned or not. You're never going to be free because everything, every decimal point that moves after free is a profit. It is no getting around that. So To not be a part of this project based on some philosophical ideology is not, in my opinion, is not very logical in the scope of how the cryptocurrency markets works and money. That said, you should not forget my project BitcoinNYK, which you can also get tokens for for free. So don't repeat mistakes over and over again. Speaking of BitcoinNYK in relation to Bitcoin Hex, this is very interesting because, um, vendors, right? So I kind of break this down. You can almost break this down if you really, really want to simplify a token and its value. I mean, really, really, really to the bare bones. Let's just bare bones simplify what, what is considered, what should be considered a valuable token, right? And, uh, I'm going to give you just two things, right? One's going to be branding and the network effect, right? Do people believe in it? Do people like it? Do people trust the brand? Do people want to use it, right? For whatever reason, if you got that covered, the next thing is going to be, does it have vendors? Are people willing to accept it? Is— are they willing to trade it for something they find valuable to themselves, right? If you can break those two things down or separate cryptocurrencies into two categories like that, after that point, it really doesn't matter what you think the coin should do as far as technology. It really doesn't. Because let's, uh, let's take this example. Uh, let's, uh, look at who's at the top of the social media, uh, uh, industry and who's at the top of the cryptocurrency industry. Bitcoin and Facebook. These are two projects that have inferior technology right now to their competition, right? So I'm gonna— I'm about to simplify the technology thing. Let's put in a very third category. Where do you believe something should have more technology or less technology? Or what do you believe that if somebody works hard to create more technology in a product and thus it should be adopted and should be valuable. Whether you believe that or not, what is factual that we can see is that well-branded products, even with inferior technology, do— are doing better than ones with more advanced technology, right? That is true in Bitcoin. It is true in Facebook. In some cases it's true in the automotive industry, right? There, there have been cases where people can buy a more technologically advanced car, uh, against a car, a car that has more bells and whistles than another, right? But if you have people who believe in your project and you have that marketing effect, that branding effect, that network effect, And you have people willing to accept your— this token is valuable. After that, it really doesn't matter all the in-between things. Now, um, or at least that's what, what it seems to be the case, right, in many examples. So looking at the Bitcoin Hex project, I, I find this to be a very valuable coin, or will be. And they talked about the top 10. Okay, uh, and this could— this has a great chance, guys, in my opinion, of being a top 10 cryptocurrency. This looks like a billion-dollar cryptocurrency for me. I feel that way about this coin, and, and I, and I haven't felt this strongly about a project in cryptocurrency that I felt was revolutionary, uh, from the time I've been in here over the last few years. The only project I felt similar about like this was Steemit. I know a lot of people say, well, Steemit, yeah, Steemit did pretty well, but it didn't never reach its full potential. But coming into the cryptocurrency space and getting involved in something like Steemit, the message was a lot different than it is now. The message of Steemit was something like it can replace Facebook, right? It's the new way of conducting social media and how we're going to look at social media. It's going to be this social media owned by the people, and it's going to do a great job, and it's going to one day overtake Facebook. And we all really believe that. Many of us believe that. Now, unfortunately, I was wrong in that prediction, and hopefully this does— that doesn't spill over into Bitcoin Hex, and I'm wrong on Bitcoin Hex as well. I don't think— I think Bitcoin— I don't think this is going to happen with Bitcoin Hex though. But, uh, Steemit still did very well, and Steemit's not dead yet. Steemit is still functioning, still kicking, and there's still reasons for Steemit to, to, to go forward. But it didn't meet revolution. It did good as a cryptocurrency, don't get me wrong, but it didn't hit revolution. I think Bitcoin has— can hit revolution, uh, in how we, um, use cryptocurrencies, how we value them, This, this, these, this process that Bitcoin Hex uses, this trustless smart contracts, this fast movement of value and money and staking, I think that's an element that's missing in the space that we're going to need going forward. And after that point, uh, I think what we're going to have is it's going to be easy for something like Bitcoin Hex to be a money. Now Because of that, and because one of the main arguments is people are looking at like, what do we do with it? Do we just stake it to no end? Because of it, and because I find such value in the Bitcoin Hex project, I'm strongly thinking about starting on our, on our website when Bitcoin Hex comes out. I'm strongly thinking about the Bitcoin NYK project accepting Bitcoin Hex as a payment. Right. And so what you have to understand is a totally decentralized, trustless product like the Bitcoin Hex product, you know, it's kind of like how Bitcoin was started with Satoshi, right? This decentralized, there's no head or, you know, somebody at the head. There's no management team or anything like that. So it's not going to be able to set up vendors and do all these variety of things, you know, because it's because of its nature. But vendors can accept it, can accept it. Projects and teams can accept it as a payment, right? And so I'm thinking strongly about incorporating Bitcoin HEX into our site. And what can you do with it? Well, it's a social network, so you'll be able to advertise on it. Uh, if you have a cryptocurrency, uh, that trades on decentralized exchange, uh, it could be listed on our, um, decentralized token listing service, right? So that's more promotion for your token, and it's also letting people be able to locate and find information about it, which is something, uh, decentralized tokens have a great deal of problems with, uh, doing on CoinMarketCap. Because CoinMarketCap, for the most part, requires you to be listed on two exchanges. It might require a certain amount of money, and so it becomes very difficult right, uh, for new tokens, new projects, tokens just starting out to probably get listed on CoinMarketCap, right? So, uh, you can do that with our project. Uh, we're also going to be doing, uh, dropshipping with the project. And so, uh, it should reach a state, uh, or state where you'll be able to pretty much buy and purchase anything with these tokens, right? From electronics to, to, uh, whatever the case is. And, um, this will just be people who are willing to exchange it and see value in it, right? That's, that's all it really takes in this space, right? But we're thinking strongly about doing that after Bitcoin Hex comes out. So if you're the kind of person going, I don't really know what I should do with Bitcoin Hex once I get— once I acquire Bitcoin Hex, am I just going to stake it? I, I really can't trade it for anything. That may not exactly be true because Bitcoin HEX, we may see it as a strong contender to be listed as a method of payment with our site. Right now we are trying to keep it limited to our own token to build up its value, but I think we are going to reach a point with this in the future where we're going to accept other cryptocurrencies as a form of payment as well into our site to take advantage of its certain features. So, you know, be sure to check out our project as well. You get free money over there as well. But I can foresee Bitcoin Hex being a top 10 coin in the near future, in my opinion. Not financial advice, but pay attention to it. And guys, that's all I want to say in this video. 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