The recent spike in the price of the relatively new cryptocurrency "Hex" has created alot of renewed excitement and hate for the project and its creator.
Richard Heart, the creator of the ERC20-token Hex, has proven to be a controversial figure in the crypto space. He has amassed a fanbase, not only related to cryptocurrencies, but also other topics like self improvement, business and general news topics. It might be fair to call him a minor E-Celebrity.
He has also amassed many detractors, mainly due to Hex and its reputation for being a scam, but his detractors also allege that he previously has been caught up in some shady business related to email spam.
The man certainly has flavor, but people do have disagreements about how they think he tastes. Sweet, sour or maybe even salty?
Richard Heart does not portray himself as a Boy Scout, but typically defends his Hex project by solidifying that trust in him personally, is not needed to evaluate whether or not Hex has merits as a worthwhile cryptocurrency.
This piece will not be diving into the details of how Hex works, since there is already plenty of good analysis outlining the "scammyness" or viability of Hex, but rather present a unique perspective on the nature of scams related to cryptocurrencies.
1. Can you be scammed if you did not pay anything?
Outside of trading, there are 2 ways to get your hands on Hex. Programmed into the token is a so-called "Adoption Amplifier", which works (kind of) like a daily auction where you spend ETH and get Hex. A lot can and has been said about this Adoption Amplifier in the before-mentioned articles and it is not interesting for the focus of this piece.
The second way of acquiring Hex is far more interesting in terms of arguing, since it is essentially an airdrop. If you owned BTC in the beginning of December 2019, you can get some Hex for free by signing a message showing you control the keys. Here is a guide for anyone interested.
Skeptics of Richard Heart and his project will definitely not be willing to fork up their hard earned ETH for a project they believe to be worthless and disgusting, but is there any harm to claiming free coins?
There might be some downside in showing coin-activity, but for most people that should not be an issue.
So back to the original question: Can you really be scammed, if you just claimed your free Hex and nothing else?
2. Is it a scam, if you were only told the truth?
Many are familiar with BitConnect and would agree that calling it a scam is fair. BitConnect and its representatives told a false story about utilizing a supercomputer that would use your BTC to trade, making extra BTC and paying you for lending the BTC.
The story they told was a lie and therefore it was a scam, but should the same label apply to honest projects without any utility?
Detractors of Richard and Hex often base their criticism, not on lies or falsehoods, but by claiming the only purpose for the existence of Hex, is to enrich Richard himself and none else.
Technically speaking, only Richard Heart knows his own intentions, but his critics often points to the official Hex website to showcase how "scammy" it looks. Although, that is a very subjective claim. It might just be bad taste on Richards part.
Assuming honesty on Richards part, how fair is it calling his project a scam for simply lacking utility, if no claims of utility is being made? Is it not at least better than most Pump and Dumps claiming never fulfilled utility?
Do the intentions of a projects creator qualify it as a "scam"?
Satoshi may or may not agree.
