Richard Heart’s Ponzi HEX project has dropped 52%, even below 1 satoshi

The smallest par value of Bitcoin is currently valued higher than the entire Ponzi Hex (HEX) after the controversial token lost more than 50% in a day. According to data from CoinMarketCap, HEX/BTC is currently priced below 1 Satoshi – or 0.00000001 BTC.

Ponzi HEX price is too small to measure

The HEX price has become so low that many price calculators cannot estimate its value. On January 5, HEX traded at 0.000000007745 BTC, about $ 0.00000058. That number is, of course, much lower than $ 1.

richard-hearts-ponzi-hex-project-has-dropped-52-even-below-1-satoshi

HEX/BTC order book from Bidesk exchange | Source: Bidesk

The collapse of Hex during its short life was easily predictable. HEX investors or traders or HEX hodlers since the Hex launched on December 2 have seen their value drop to 100%.

And during the Hex operation, founder Richard Heart consistently promoted and promised many good things about this project. These include straightforward promises such as large profits for HEX holders in certain stages through a staking plan.

Heart has been continuously promoting the Hex project – a system that, in his opinion, is truly unique in the cryptocurrency world.

Investors would instead buy satoshi

The criticism nonetheless comes from many sources, with a naturally popular theory revolving around the Hex being operated similar to the pyramid scheme. A study published shortly after launch highlighted what its author described as his perpetual self-enrichment at the expense of other investors.

Another enthusiast saw HEX / BTC drop 60% after one night after cryptocurrency exchange Bitcoin.com chose to list it.

The fall below one satoshi simultaneously created a new wave of satisfaction from social media users, many of whom warned that investing in Hex was a much lesser decision than foolishness.

Domingo Guerra, the co-founder of enterprise mobile security firm Appthority, said:

“There is no buyer for HEX at one satoshi. HEX is dead! Essentially at zero.”

Disclaimer: This is not trading advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

 

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