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“howey test” · 1 mention
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30:37
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25:49
pump and spread the word there's no
25:51
better users than Bitcoin users right
25:53
they've held through the most dumps
25:55
they've got four times the market cap on
25:58
the next guys it's it's a really good
26:01
user base and I've got a bunch of
26:03
Bitcoin so hey why not pump my own bags
26:05
with some more free coins right so if if
26:11
you're gonna start a new currency you're
26:12
gonna want to airdrop Bitcoin holders or
26:14
have Bitcoin holders in there which is
26:16
the reason let me give you a list of the
26:18
top ten currencies that have also given
26:20
free crypto to bit coin holders Bitcoin
26:22
cash
26:23
free crypto - bitcoin holders mm-hmm xrp
26:26
gave free crypt at a Bitcoin holders and
26:28
anyone else that gave their email
26:30
address lumens gave free crypto to
26:32
bitcoin holders you had to sign a proof
26:35
that you had coins those are all top ten
26:38
cryptids
26:39
right and then Bitcoin sve was given to
26:41
Bitcoin cash which came from Bitcoin no
26:44
in effect you have five or four
26:48
currencies in the top ten that are given
26:52
for free to Bitcoin holders so this
26:54
concept that like oh man you shouldn't
26:56
use Bitcoin is the name because we don't
26:59
want a fourth Bitcoin in top ten stupid
27:03
right so like is Linux Mint and Fedora
27:07
Linux and Red Hat Linux all scams
27:10
because they all use the Linux name no
27:12
they're called Linux because they're
27:14
force of linux and it's useful to know
27:15
that so is it useful to know that a fork
27:18
of bitcoin is a fork of Bitcoin and
27:19
therefore has a Bitcoin in the name yeah
27:21
is there brand confusion only if you add
27:24
it if you add some marketing to your
27:26
website that says real Bitcoin is fake
27:28
and our fake bitcoins actually the real
27:30
one well then you're an [ __ ] right
27:32
and that's the problem like the name is
27:34
not the problem the problem is the
27:36
misleading marketing right so now that
27:39
being said I'm happy to pivot to a
27:40
better hex name as soon as I find one
27:42
I've tried I've had votes and I've tried
27:45
to pivot to straight hex trust trustless
27:48
interest scarcity coin nobody likes the
27:52
names they like Bitcoin hex better so
27:54
until I find a better name of stuck with
27:56
it I plan on having a higher market cap
27:58
than Bitcoin itself and it will be a lot
28:00
easier to do that without Bitcoin in the
28:02
name so so tell us tell us how to claim
28:05
your free Bitcoin hex then well right
28:07
now you can't
28:08
but in 8 weeks you should be able to and
28:10
you should be able to fool around with a
28:12
demo claim tool on a
test
net in about 6
28:14
weeks so all you do is you have some
28:18
Bitcoin in a wallet at the snapshot
28:20
right we a block height at that date at
28:24
that time that block height we take a
28:26
snapshot of the network whoever had
28:27
coins then is eligible to get free
28:30
Bitcoin tax as long as your coins are in
28:32
a normal address normal Segway tour
28:34
normal address no multi-sig or
28:36
weird scripts or anything like that then
28:39
you just go to the website claim Bitcoin
28:43
tax calm which isn't up yet all right
28:45
but it will be you go to the site you
28:48
paste your Bitcoin address you're
28:49
worried about anonymity and security use
28:51
a proxy use tor use a computer at the
28:54
library I don't care
28:55
so you just paste your Bitcoin address
28:57
in there and you tell it you want to
29:00
claim it goes through and makes you a
29:02
little statement you copy that statement
29:04
to your Bitcoin wallet you click sign
29:07
you copy the output back you click
29:09
Submit you're done so that's basically
29:12
put your address in copy paste copy
29:14
paste done that's it now you do have to
29:18
have a Bitcoin wallet that can make
29:19
signatures most of them can so ledger
29:21
treasure coin oh me electrum the clink
29:25
or for anything except back thirty-two
29:27
addresses which no one uses that's it so
29:32
what could what what is what is this
29:33
Bitcoin hex designed to do I guess
29:35
you're gonna claim it you're just gonna
29:36
you know make interest money this is
29:39
what is for or is there any solid you'll
29:41
appreciate in price that's its sole goal
29:44
it's the sole goal as expensive as
29:46
possible yeah so here's how is that mmm
29:50
price how I'm gonna do that without our
29:52
utility I guess that people are looking
29:53
at like for Bitcoin they say adoption is
29:56
gonna be the utility yeah
29:58
people only buy crypto cuz the price is
30:01
gonna go up that's the utility there
30:03
ain't no other utility go look at the
30:05
top ten tell me the utility there ain't
30:10
none right so being a store values
30:13
enough having something that just goes
30:15
up in price is enough doesn't need to do
30:17
other stuff that's more than enough it's
30:20
been more than enough for everything
30:21
else in the list mm-hmm so how do you
30:25
get price to go up well you can increase
30:28
demand or you can reduce supply that's
30:30
it so how do we increase demand well we
30:34
could do a lot of advertising but I
30:36
can't tell you about that because the
30:37
Howey
test
the
Howey
test
says that your
30:40
security and have to follow securities
30:42
laws if you have people giving money to
30:46
a common pool with the expectation of
30:48
profit
30:49
from the work of others mm-hmm so I like
30:51
to fail all of those
test
s right you're
30:54
not giving me any money
30:55
there ain't no common pool I promise you
30:58
nothing no work at all contracts there
31:02
it works use it if you want have fun
31:04
right no securities problems so that's
31:09
how you could increase demand is through
31:13
advertising right now how do you
31:15
decrease supply by getting people to
31:19
lock up their coins and take them off
31:20
the market okay well how do you convince
31:22
them to do that by paying them interest
31:25
well it's pretty easy that's what they
31:27
do in the real world you go to the bank
31:29
and you're like hey what interest
31:31
they're like okay get a savings account
31:33
you're like oh those rates suck you want
31:35
higher rates lock it for a longer time
31:38
we pay you more oh it already works in
31:42
the real world there's already six
31:43
hundred billion dollars of CDs in the
31:46
United States five seventy one last I
31:49
checked and that's not even the CDs over
31:51
a hundred thousand dollars which is
31:52
called jumbo CDs I don't know why it's
31:54
so hard to find a measurement on those I
31:55
have a found one yet but that's a 600
31:57
billion dollar market just in America
31:59
and the ratio seem to be the same in
32:01
other countries right does Bitcoin
32:03
address that market that six hundred
32:04
billion dollar market no well why not
32:08
because whoever designed it didn't have
32:10
the ten years of learning that we've had
32:12
you know it was the first of its kind in
32:14
ten years we figured some stuff out well
32:17
I would much rather people stake their
32:19
coins than by mining hardware when
32:21
people by mining hardware it just
32:23
increases the pollution increases the
32:25
electric bills and then they sell more
32:26
coins on the market to pay for it so
32:28
more miners equals the lower Bitcoin
32:31
price more people staking equals higher
32:34
Bitcoin hex price self-empowering right
32:38
people stake price goes up they FOMO
32:40
they stake price goes up more last
32:43
supply just keeps going there's no
32:45
there's no canceling it out with having
32:47
to sell coins to pay electric bills to
32:49
pollute the environment right so you got
32:52
your
test
coming out in six weeks eight
32:54
weeks people complaint can claim there's
32:56
Bitcoin heck yeah if you want to if they
32:58
want to make this money if they want to
32:59
just you know get into a Bitcoin that's
33:01
just gonna go up in value
33:03
because of the things that you just said
33:03
well not go down it depends on what [ __ ]
33:06
if everyone drives the price to [ __ ]
33:08
levels then it didn't tip right like it
33:11
dips are not illegal what is [ __ ] it's
33:13
designed it's designed to pump but that
33:16
don't mean that it pumps in a [ __ ] 45
33:18
degree angle with no variations so how
33:23
do they get out how do they know when
33:24
this is ready to go that's what I'm
33:25
asking
33:26
Oh we'll go to the site and put your
33:27
email in there and go to the chat room
33:29
so we got 1400 people in the chat room
33:31
right now just talking about Bitcoin tax
33:33
there's about a hundred and fifty live
33:35
all the time T IME forward slash Bitcoin
33:38
tax go to my Twitter twitter.com forward
33:42
slash Richard Hart win Richard Hart WI n
33:45
go to my YouTube Richard Hart on YouTube
33:48
youtube.com forward slash Richard Hart
33:50
and yeah you're gonna know when it comes
33:54
out I mean look you should be in the
33:55
chatroom and reading the website now
33:56
because there's so much cool game theory
33:58
in this that it's gonna take you a week
34:00
to understand it because it's much more
34:02
complicated and interesting than crypto
34:04
in crypto you have is the price up or is
34:07
the price down and that's all you got
34:09
and this you got if you claim the first
34:13
week you get 20% bonus if you refer
34:15
somebody you get 20% of their stack if
34:17
you refer yourself you get 20% on your
34:19
own stack if you stake your coins you
34:23
get coins that didn't get claimed like
34:25
Satoshi's coins and you get interest and
34:27
you get critical mass and virality bonus
34:30
which inflates the currency too early
34:32
stay kurz as more and larger claims come
34:35
after them so everyone has a reason to
34:37
spread the word and you have two other
34:40
revenue sources as a Staker on top of
34:43
the interest if people emergency and
34:45
their stake you get half their penalty
34:47
and their penalties half their interest
34:49
so like if you stake for 50 years and
34:52
you've got 20% extra bonus shares for
34:56
each year so you get like 10x your
34:58
shares so in normal CDs you get paid
35:01
more for staking longer about 20% per
35:03
year I just copied that behavior for
35:05
this system so if you stake for a year
35:08
instead of seven days you're gonna get
35:10
an extra 20 percent if you do that for
35:15
50
35:15
years well now you're up 10x right so
35:18
you've got 10x the shares that you would
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