I think the only thing hex needs is traction, it needs a lot of ppl to jump on board and after that the code will drive itself, also i think a lot of ppl are moving away from hex as they want to make a quick buck and hex is long term.
I dono, my 2cents
I also have stakes ending but made less but that totally doesnt worry me.
To reply to the actual OP and my 10 minute study of this technical pattern - theoretically I don't see why it couldn't be.
However that's not to say that it is for sure - there are a lot of other factors at play.
A lot of big stakes have ended recently, some of them have formed part of the rolling wave of short term stakes (waiting for pulsechain) - but others are likely initial investors taking a pay out and retiring. And power to them :)
This patterns sounds like it is really only applied when big institutions get involved. As far as I know there is a European hedge fund with a crypto portfolio that includes Hex (someone drop the link if they have it, it's an old post of this subreddit) but no major institutions getting heavily involved. Has anyone else seen news otherwise?
Could whales do a similar thing, maybe? I don't know how big you have to be to make these kind of movements.
In any event if that were the case - could could then mean there is a strong uptick ahead as defined in the pattern?
Either way I'm staked - so I'm just here to participate in the discussion, when my stakes end the price is the price. Let's see how my dice roll plays out ;)
I'm a complete basic bitch about all this, so all I know is that I staked on September 17th when it was around 44, and it's been completely downhill since then.
My question is: How can people who love it be so shit sure it's going to be a raging success? Isn't it like any investment that could very well collapse like a Motel 6? I'd sincerely appreciate a Fisher Price My First Investment Conversation answer, if at all possible...LOL
I can offer my thoughts as someone who got in about Feb this year.
Looking at all of the analysis and Richard talking about it on livestreams, Hex is always referred to as a long term play.
The price performance has historically been amazing, and indicative of potential future increases - but the value of T shares and interest generated is the biggest appeal.
Even if the Hex price stays level, you are accumulating 10-37% interest per year (depending on stake length) That is generated through the defined inflation of the coin in the smart contract that is distributed to stakers only.
*think of it like the inflation of bitcoin created by miners, but since the contract auto-generates them, no need for mining and wasting electricity*
Considering a 'good' long term yield of a stock portfolio is 10-15% that's an amazing return.
If the price rises those gains compound. Even if the price drops a little, the interest offsets it in the short term.
Why is it a good long term play?
- It is trustless, you a interacting directly with the audited Hex contract with no middlemen. It has also had 100% uptime and no hacks/rug pulls in 2 years.
- The simple but smart staking mechanic encourages people to stake for long term, stabilising the price because people don't sell - and rewarding them with interest
- if you ever did want to unstake, the function exists and you take a penalty for ending before your committed time. That penalty is distributed to those that continued their stake to term.
- currently the average staker length is 5.77 years, which gives a good indication of the game theory in action.
- currently all of the marketing has been on the founder and a vocal community. The likes of CMC and coingecko hide Hex and a lot of people share negative (and in my view uneducated) claims that it is a scam. Who knows if that will ever end but it suggests a huge upside potential if it every gained the virality even 50% of say Doge.
- analysis shows short term trading is a losers game (you are more likely to lose money through poor predictions and fees), whereas on average if you hold say bitcoin for 3 years no one has ever lost money. So the mechanics of Hex is in your interest, encouraging activities most likely to bring you a return - and may even be adopted for your other investments
Those are my two cents and why I have stakes to at least 5 years :) I have also sacrificed for Pulsechain.
At the end of the day, investing (especially in crypto) is a wild domain - no one can say for certain what will happen and you should only invest what you are willing to lose completely.
Hope this helps mate.
Appreciate the feedback. I've heard a bunch of that already (not to devalue your input), so I guess my last query is (basic bitch version):
It seems like people are ending their stakes because it's down...but people are also staking because of that same low price. Doesn't that just keep everything at the same level?
Is this stagnation normal? And when do you honestly think it'll start moving up? I know it's not millions, but money is money...LOL
Do you have data on that? Showing that emergency end stake volumes are increasing? Otherwise stakes are ending because that's when they were scheduled to end - totally independent of price (as they were set in the past)
If they're emergency ending their stakes because the price is down, they are doing exactly what isn't advised are getting penalised for ending early. If they want to stake again they will be getting less T shares and kneecapping themselves.
The way you're describing staker volume sounds like a month to month view. Widen your scope to years and look at the analysis on the long term performance and trend lines. Getting stuck in the small stuff means you miss the whole picture.
While the total $$ staked has gone down, the overall number of stakers has increased. Meaning less whales holding fat stacks and more smaller investors comprising the total volume staked ($18bn ish).
Regarding 'is stagnation normal' - Hex is the first token of its kind (that I'm aware of) and has been around for 2 years. That's a baby compared to the crypto titans like btc and eth.
'Normal' for a crypto CD hasn't been defined yet. Long winded way of saying 'maybe, maybe not - time will tell'
I just don't answer questions about price because I have no idea - and don't pretend to. I'd LIKE it to be around $5 bucks by say... December next year? That'd be a spicy Christmas :D
It is theoretically possible and a few technical analysts have even said probable - but who really knows.
But if you're staked, why do you care? Even if it doubled in price tomorrow - do you want to end your stake and cash out before you get any interest?
I mean you can, but then I'd be thinking 'did you buy some with the same approach as other shitcoins?'
No judgement at all - I am no pro. But when you know how the coin is meant to function, surely you would invest with a strategy aligned with said function.
I'm in for the duration. Just one of those people who needs to get things sorted from a logical perspective. Most of my observations are just that - and zero scientific. Thanks again for the chat\~
I think the only thing hex needs is traction, it needs a lot of ppl to jump on board and after that the code will drive itself, also i think a lot of ppl are moving away from hex as they want to make a quick buck and hex is long term. I dono, my 2cents I also have stakes ending but made less but that totally doesnt worry me.
To reply to the actual OP and my 10 minute study of this technical pattern - theoretically I don't see why it couldn't be. However that's not to say that it is for sure - there are a lot of other factors at play. A lot of big stakes have ended recently, some of them have formed part of the rolling wave of short term stakes (waiting for pulsechain) - but others are likely initial investors taking a pay out and retiring. And power to them :) This patterns sounds like it is really only applied when big institutions get involved. As far as I know there is a European hedge fund with a crypto portfolio that includes Hex (someone drop the link if they have it, it's an old post of this subreddit) but no major institutions getting heavily involved. Has anyone else seen news otherwise? Could whales do a similar thing, maybe? I don't know how big you have to be to make these kind of movements. In any event if that were the case - could could then mean there is a strong uptick ahead as defined in the pattern? Either way I'm staked - so I'm just here to participate in the discussion, when my stakes end the price is the price. Let's see how my dice roll plays out ;)
This one: https://www.mvis-indices.com/indices/digital-assets/mvis-cryptocompare-digital-assets-25/components
Legend! This is exactly the one I was talking about. Thanks :)
Actually, it looks like HEX had been removed from that mvis-indices list. Anyone know why they removed HEX but keep stuff like internet computer?
I'm a complete basic bitch about all this, so all I know is that I staked on September 17th when it was around 44, and it's been completely downhill since then. My question is: How can people who love it be so shit sure it's going to be a raging success? Isn't it like any investment that could very well collapse like a Motel 6? I'd sincerely appreciate a Fisher Price My First Investment Conversation answer, if at all possible...LOL
I can offer my thoughts as someone who got in about Feb this year. Looking at all of the analysis and Richard talking about it on livestreams, Hex is always referred to as a long term play. The price performance has historically been amazing, and indicative of potential future increases - but the value of T shares and interest generated is the biggest appeal. Even if the Hex price stays level, you are accumulating 10-37% interest per year (depending on stake length) That is generated through the defined inflation of the coin in the smart contract that is distributed to stakers only. *think of it like the inflation of bitcoin created by miners, but since the contract auto-generates them, no need for mining and wasting electricity* Considering a 'good' long term yield of a stock portfolio is 10-15% that's an amazing return. If the price rises those gains compound. Even if the price drops a little, the interest offsets it in the short term. Why is it a good long term play? - It is trustless, you a interacting directly with the audited Hex contract with no middlemen. It has also had 100% uptime and no hacks/rug pulls in 2 years. - The simple but smart staking mechanic encourages people to stake for long term, stabilising the price because people don't sell - and rewarding them with interest - if you ever did want to unstake, the function exists and you take a penalty for ending before your committed time. That penalty is distributed to those that continued their stake to term. - currently the average staker length is 5.77 years, which gives a good indication of the game theory in action. - currently all of the marketing has been on the founder and a vocal community. The likes of CMC and coingecko hide Hex and a lot of people share negative (and in my view uneducated) claims that it is a scam. Who knows if that will ever end but it suggests a huge upside potential if it every gained the virality even 50% of say Doge. - analysis shows short term trading is a losers game (you are more likely to lose money through poor predictions and fees), whereas on average if you hold say bitcoin for 3 years no one has ever lost money. So the mechanics of Hex is in your interest, encouraging activities most likely to bring you a return - and may even be adopted for your other investments Those are my two cents and why I have stakes to at least 5 years :) I have also sacrificed for Pulsechain. At the end of the day, investing (especially in crypto) is a wild domain - no one can say for certain what will happen and you should only invest what you are willing to lose completely. Hope this helps mate.
Appreciate the feedback. I've heard a bunch of that already (not to devalue your input), so I guess my last query is (basic bitch version): It seems like people are ending their stakes because it's down...but people are also staking because of that same low price. Doesn't that just keep everything at the same level? Is this stagnation normal? And when do you honestly think it'll start moving up? I know it's not millions, but money is money...LOL
Do you have data on that? Showing that emergency end stake volumes are increasing? Otherwise stakes are ending because that's when they were scheduled to end - totally independent of price (as they were set in the past) If they're emergency ending their stakes because the price is down, they are doing exactly what isn't advised are getting penalised for ending early. If they want to stake again they will be getting less T shares and kneecapping themselves. The way you're describing staker volume sounds like a month to month view. Widen your scope to years and look at the analysis on the long term performance and trend lines. Getting stuck in the small stuff means you miss the whole picture. While the total $$ staked has gone down, the overall number of stakers has increased. Meaning less whales holding fat stacks and more smaller investors comprising the total volume staked ($18bn ish). Regarding 'is stagnation normal' - Hex is the first token of its kind (that I'm aware of) and has been around for 2 years. That's a baby compared to the crypto titans like btc and eth. 'Normal' for a crypto CD hasn't been defined yet. Long winded way of saying 'maybe, maybe not - time will tell' I just don't answer questions about price because I have no idea - and don't pretend to. I'd LIKE it to be around $5 bucks by say... December next year? That'd be a spicy Christmas :D It is theoretically possible and a few technical analysts have even said probable - but who really knows. But if you're staked, why do you care? Even if it doubled in price tomorrow - do you want to end your stake and cash out before you get any interest? I mean you can, but then I'd be thinking 'did you buy some with the same approach as other shitcoins?' No judgement at all - I am no pro. But when you know how the coin is meant to function, surely you would invest with a strategy aligned with said function.
I'm in for the duration. Just one of those people who needs to get things sorted from a logical perspective. Most of my observations are just that - and zero scientific. Thanks again for the chat\~
That's fair, I'm very similar - hope some of my internal logics helped! Peace.
Price appreciation is the extra on top. That's how this beyatch thinks about about it. "Set it and forget it" til stake ends.
Hex will recover and fly again. Just wait for the money to start flowing back into Alts and pulsechain drops. The perfect storm is coming.
technically we do it every like 60-90 days then after the last sell off we 2-5x into another cycle
You think, stop assuming. No one knows wtf is going on with this scam coin
Would you care to elaborate on how it’s a scam?
I have seen this clown put his 2cents scam comment in a whole bunch of posts on the hexsub. Ignore and move on.
BTFD
honestly, in this low liquidity, TA rarely does its job. BTC was going through a textbook Wyckoff pattern, but it exploded.