Hex Us Road Trip Workshop - Albany, NY

in hex we're patient right because it's all about waiting for your steak to come out so we can wait for the people to join us that's right i think we just got a couple more people that will go ahead and get started tell you that we good over there welcome welcome we got room here in the front so for you guys in the back you still have the chance to fill up the seats all right everybody welcome to the 5555 tour we made it all the way to albany new york please go ahead and put your hands together for our presenters today hex lion and maddie all in [Applause] hello and welcome everybody awesome to see such a big crowd here uh thanks for being here tonight and to start with i would like to show you our 5555 tour trailer because our tour is also doing a documentary like they are doing for richard hart as well and so to start with i would like to show you what our tour trailer is all about so let's see there is katie there's teddy okay i guess everybody is in here already perfect and let's start i need to connect with the fox again sorry about it where is my bluetooth here hey guys my name is [Music] two years ago i was in a horrible place in my life i was homeless i was addicted to drugs and alcohol and i was divorcing my wife by then i had no hope no goals and i was just living day to day then i found out about richard she helped me so much with his self-help books and videos that it changed my life completely i was so thankful to found somebody would now help me and give me the motivation to be successful in life i started learning which is the 5555 so after tour trailer welcome again the voice you heard or the guy who you see how to make a website for beginners tutorials [Music] happened already like the third time for me that i forgot to skip youtube after the trailer uh all right so the advice you heard here this was ellen my buddy from kryptos barbour who is said he couldn't make it to here he is like a week longer in germany and he will come back uh in a week and then continue with me the the tour so um greetings from him from germany actually he's right now with uh another buddy of mine in switzerland meeting with hotenberg so hexicans are still connecting and try to uh brainstorm as much as possible like how to uh bring hex the attention it deserves and uh as elm couldn't make it right now i'm glad that another ochi jumped in with with me today at the workshop so welcome maddie and thanks for being with me today and helping out here yeah my pleasure i'm really excited any way i can help so first thing as it is a little workshop here um and every hexy can already knows the staker app and the sticker wrap is a thing which you can either use to visualize your hex portfolio or to actively use as a wallet as well and as it is just great to have a look at it as well so everybody who is not having the staker app the application on his phone just a free application can go ahead and scan the qr code that um everybody has the wallet already so after the workshop today it's also nice to have a look in the in the wallet that you can because you can see the the chart in there and you can see that what is going on in the hex ecosystem even if you don't actively use it as a wallet if you only use it to visualize your stakes i know what for example are for example yeah that's also a thing which we are going to talk about today in the workshop hex has a nice system it's called staking and when it comes to the hex taking system we have a new thing it's uh without any middleman it's just based on mathematics it's a dynamic interest system and in the last section of the today's workshop we are talking in depth about that as well so i guess that's fine for everybody yes so first section is like why x so maybe when it comes to your mind why should we look into hex what do you think is are the main topics of why hacks yeah so you know everybody knows that cryptocurrency is something that can uh appreciate and value greatly and everybody knows that bitcoin went from being worth almost nothing to being worth a lot and so when it comes to hex hex built on top of that technology and at the same time being the best technology sometimes means that you don't compromise on other things and so when it comes to exchange listings or when it comes to you know all the bribes that normally happen in crypto and in legacy finance hex did not submit to that and so hex is really an organic thing it's got a community behind it of people who are normal people like you know he and i i'm my background is as a therapist and a neuroscientist and so that's what i did for the past 14 years until i got financially free and so there are going to be a lot of things that attract people to hex everybody's gonna you know find what it is that makes hex important to them for some people it's the mad gains for some people it's the community for some people it's just the math and and when the look at the fundamentals behind hex so what is hex actually so technically speaking it's a so-called smart contract a finished contract which cannot be changed by anybody ever in the future and to make sure that this finished product is safe and secure the hex code yeah the code base the code lines two years and now we have already a good amount of history and we just know for a fact that in this history hex has a hundred percent uptime that means that each and everybody could interact with this code 24 hours 7 days a week which means you are your own bank you are in control of your money and there is nothing which can stop you for interacting with your money no weekends or holidays you will be able to transfer all day long you hold your own keys that means that you don't need to trust anybody a third party like when it comes to your bank account you have like a shared trust system only if the bank allows you to send your money back and force you have access to it and on a certain point uh sometimes it happens like two random people out of nothing they just cancel all the possibilities of your bank account and then you're out of your money basically that won't happen when you hold text because you hold your own keys you just need to take care that nobody else gets your key and then you're fine because you have no middlemen in hex so there is no third party like promising you anything like the the interest you get it's just a mathematical system of interest we will talk about that in the staking section and this interest system is also like the most interesting function of x and it means that that we all understood that hex is actually the only crypto that exists and a lot of people hear that and they want to know more right because they hear that bitcoin is a crypto but when you when you really get down to what is a crypto a crypto is something that is decentralized right and it frees you from middlemen and a lot of times like things can change right being able to update your world view and say wait a second everybody who has bitcoin on coinbase and they're not holding their own private keys that's not really crypto and so it's really cool that hex was invented around the same time as another technology called uniswap which is a protocol that allows people to trade in a decentralized manner and so a lot of people when they first bought their bitcoin they had to go to a middleman to get it but it was this idea that someday it would be more decentralized well you know hex is probably the most popular coin that has had 99 of its volume trade on decentralized exchanges and decentralized exchanges are a new technology and so that's that's another exciting point yeah and now let's look over uh just some charts and they will make it really quick so first of all outperforming every market hex since it's beginning in uh december 2019 uh had just a little rough start because i don't know why but everybody in the market was uh accusing richard hart the founder of acts of making a scam here and that's why hex had like a little rough start because the market needed a few months to figure out that that is not the case and then um in march when everybody every market starts tanking because of the global lockdowns and pandemic hacks started to outperform every market and since then it just continues to perform uh better versus ease bitcoin and uh of course against the stock market as well and the uh the mantra is like up and to the right because to the right means time and up means price appreciation so and this chart was like before the hex taking even next chart here uh hex outperforms bitcoin and ethereum and here we put it in a time perspective so what you see here is the overall performance of bitcoin ethereum and hex and like also the overall timeline so we have the um 12 and a half years of bitcoin and we have ethereum since 2015 and we have the hex chart since nearly the two years we have a logarithmic scale here and what it tells you here is that hex is fundamentally designed like the best cryptocurrencies as well because we are just on track with bitcoin and uh outperforming ethereum as well when it comes on the time perspective but if you look at the things what bitcoin and ethereum did you just see that there is a lot of room to grow as well and uh bitcoin did over six million eggs in the course of 12 years and then what yes 6 million eggs so every dollar i put into bitcoin at a penny then when it was 60 000 it would have wow that's a lot yeah that's six million bucks right there out of a penny yeah okay so if i put 200 into bitcoin when it was a penny then i'd have 1.2 billion dollars today how many people do you think held on to those gains actually if you only put it two dollars then you would have no two dollars would be 1.2 billion not 200 200 would be like a 120 billion okay so that doesn't make any sense how many people do you think held on to those gains nearly nobody because when it comes to bitcoin or ethereum you can just sell it uh whenever you want to there is no lock up mechanism you can protect yourself uh of your shaky hands and when the asset makes like a 10x 100x 1000x you just want to sell to sell it in order to realize the home the lambo or whatever so when it comes to the bitcoin gains nearly nobody catched those 6.5 million eggs in the last 12 years only the richest ones who never needed the to take something off their bitcoin bag really catched it but i'm sure i will catch the 6.5 million x in hex and that it has to do with the staking we'll talk about it later so what you're saying is that time lag in your hex could save you from yourself yes what is your point on that huh cool tell me more i will tell you more already of course so next chart we have here hex shines others fail because usually when it comes to the crypto market we have still an unregulated market which is full of people who just try to steal your money so about over 90 percent of all the things existing on this market are just outright scams or just like schemes which try to uh take your money for themselves and hex shines because hacks has a hundred percent uptime hex has no admin keys there is nobody who can change anything about hex and left and right things are failing have inflation bugs have hacked interfaces or are just straight scams and one special example i'd like to give here on this chart is down here to the right the cryptocurrency iota so a few months ago they got like a bug in their code and like a hacker got in and they have a admin key they have admin so the admin used their key for stopping that nobody could interact with this blockchain anymore not the hacker as well but you know you were not been able to get your money when you had this cryptocurrency and that's not like uh the goal of cryptocurrency or why cryptocurrency got invented and that is just to show you uh why hex is just a good product and not a project with any roadmap or something like that so if i'm making any coin i want to then what's the profit margin on that if i'm scamming people is that profitable to scam people yes it is and that's so people who are making coins that are scams they are making a lot of money and they reinvest that money into marketing and then they make even more money right because they're pulling people in until it collapses so with hex you see uh you know hex lion is the one paying for you know this workshop it's not richard hart it's not the founder of hex hex has not spent money on marketing other than what the community is willing to sacrifice and so i think that that's also a really good selling point you know because personally i've uh you know sacrificed a lot to create advertising for hex because because it's that good because i want people to know about it even if i'm you know like even if i'm not going to make as much money i would i would rather share it with others and pay it forward richard hart always thank you so richard hart teached us if you want to see marketing for hex then it's about on you and you go and do it so uh we as the crypto spawn team we just we were financially free so helen and i and uh back in may i got got to ellen when he was in mexico and we had a great yeah we just talked about hacks and falls all day long actually and then in end of june we came to maddie who hosted the first uh meetup in las vegas and we just met a bunch of great people of the hexican ogs and so we decided we need to do something else and as we are already like just touring the world we thought okay let's spend some more time in america and then with the help of t-money who we met in vegas as well everything just blew off and with this help we are able to get the cars and the cars wrapped and then we also put in a team together and now we are touring through the country with the whole team we have a camera guy we have editor with us we have two social media guys with us we have some ot's with us and hopefully the tour just becomes bigger and bigger as we go on and we will have the end of the tour in march as well back in vegas so let's go on here here the last chart of y hacks i would like to show you the price appreciation of hex because usually especially right now people who came in like a month or two ago they are a little in the miners because as it goes there are always corrections and cryptocurrencies are really really volatile and just to bring it into perspective it's not that tax will die after a 70 correction or after 80 percent correction and this is just what cryptocurrencies are usually doing and what you can see here after each correction hex made new all-time highs and they will just go through it really quickly so in the beginning like when i got in i had like 80 and a 70 correction within the first four months then during the summer another nearly 70 percent then we had the end of the launch phase of hacks where everybody got like a bunch of hacks it was called the big payday and a lot of people thought that uh hex will will die off right here but uh directly after the event the community started buying up and six weeks after that we got a new all-time high and also with the run-up in this year we had one near 50 correction then a second 50 correction a 63 correction in just five days and now we are in the next uh correction as uh pulse chain where everybody is waiting for is like a little delayed and that's the main reason why we are uh in a sidewards turn right now anything to add of the price we also hit that 10 000 x at 50 cents 56 and that's what a lot of people were waiting for so yeah i mean it's it's uh whenever people are selling that's an opportunity for people who are buying if you know if they're wanting to be long-term thinkers all right so next part in the in the section today is like let's talk a little bit about security and about wallets so um we here on the tour it's more or less like uh avid and myself we choose to go to the staker app team uh just a little background stakehrap team are two hacks ogs from the first day named steph from europe from france and from america fireband and they came together quitted their jobs nice paid jobs and so on and they came together and just wanted to create the best user interface for uh for hacks and now also for pulse chain and that's why they went ahead and created the staker app interface and i mean most of the hexagons i would say like everybody is loving it even if it don't actively uses it as a smart wallet only for visualizing the stakes it's a great tool as well and also i'm i'm gonna brag a little bit about steph right now yeah he's go ahead he's the founder of staker app he's an incredible human being uh extremely intelligent he led a team at google normally you have to be pretty good just to work at google he had a team of about 25 people they worked for quite some time to make an app to teach kids how to read and that got deployed to over 20 million uh downloads and so i i had the chance to do a little retreat with steph um in the ukraine maybe a month or two ago and uh got to know him really well and i'm i'm really impressed he thinks that staker app will be the next you know crypto app to have 20 or 30 million downloads or more so that's it's he it's very impressive what he's doing yeah so their goal is to create the killer app of crypto like the best user interface for each and everybody where also for people new to the space it's not like just a bunch of new information and uh you need to go through it like days and days before you're ready to act so if somebody can make it easy to use then it is steph and firebomb so now about the technical advantages for the when it comes to the stake rep it's more secure than it comes when it comes to the meter mask when it comes to metamask you have 12 words and they are living in the background of your wallet so uh if somebody gets like full access to your device he can just go ahead and go in the background of your wallet get this so-called secret phrase this private key out of that and can just rob you when it comes to the staker app you are only generating the seat once so ideally you do it uh at home in your own private um wi-fi either you take a new cell phone or your current cell phone and then you uh just get rid of all the apps who are running in the background and then you download the staker web and create the uh the new seed phrase [Music] next good thing is no failed transactions when it comes to the blockchain of ethereum it's overloaded right now and you can run into several things into several issues by just wanting to transact from a to b and when it comes to the staker app smart wallet you won't have any stock transaction any failed transaction any out of gas errors or something like that every transaction you put in there will go through that's why it's like the it's way easier to use than uh other wallets and you can create so when it comes to hex you have the staking option and when it comes to staking it's um [Music] sometimes beneficial to not only create one stake so it might be several and you can do it by just one click over the staker app and you can also so for each and every transaction on a blockchain you have to pay a little fee now on the ethereum blockchain as it is so overloaded the fees got uh ahead i would say so they are just crazy high and when it comes to the staker app you can choose in which currency you want to pay your fees so you don't need to have ethereum if you don't like it you can also choose to pay in hex your fees or in the stablecoin usdc and the last thing is customer support so when you have like a open source wallet you usually don't get any customer support with it when it comes to the staker app you have email support with help at staker.app and also kareem already went ahead and all the little things the questions he he got from thousands of people in the last half a year he put it together in short videos as well so there is another side with which is called help dot staker dot app and there you also find a great resource of um of research you know when it comes to the wallet functions and this is probably the part of the talk that sounds the most like a sales pitch is uh for what wallet to use and it's not that there's any financial benefit to the team for using it but it's that really as a community we benefit from having better security for everybody and so i'd probably you don't hear in other communities if they want you to buy the dog coin that they have today they're not you know telling you to hold on and and have better security so for you know for us it's not just about getting new users you know we're not just trying to make the price go up it's about really having people who are set for the long term and so having the best security matters staker app uses something called gnosis safes which are that's a smart contract that allows you to have much better security like the founder of ethereum he's a multi-billionaire and he switched his wallet over to a gnosis safe which is the same technology as staker staker is now the number one deployer of smart contracts in the world when it comes to wallet technology and so again hex is on the cutting edge and as i also see some ots here and i know that a lot of ogs in in hex started off with the metamask and made like all their stakes on their metamask so just real quick for all the new people maybe like a little too technical right now how to enhance your metamask security you can buy yourself a hardware wallet like a tracer or a ledger when you get it you don't set up a new private key with the with the device so you restore the device with your 12 words of the meta mask and then you can go ahead delete your existing metamask create a new one just a dummy one and there this one you connect with your new hardware wallet and then you have enhanced your security by putting it on a hardware wallet and if you have like nothing to do for the next years you can even reset the hardware wallet and just keep the piece of paper with the words keep that secure and in five years when you need to interact with the blockchain for example then you restore it with your hardware wallet and then you interact and then you can reset the hardware wallet again so just like a little bit more details when it comes to security because uh now for everybody again when it comes to cryptocurrency they don't lay in your wallet all cryptocurrencies are always on the blockchain where it's supposed to be so all the bitcoins are on the bitcoin blockchain or ethereum are on the ethereum blockchain all hacks are on the hex uh in this hex smart contract so because it's not its own blockchain and you're having a private key a phrase of a couple of words and this phrase allows you to interact with a certain part of this blockchain and in your user interface in your wallet you see the actual numbers but in the background everything is on the blockchain so only your private key enables you to interact a portion of the blockchain for example if i want to send you hex with my private key i can sign that i own this hex and with your wallet address i have the correct address to send it to and when i want to send it i sign it with my private key so it all comes down to those words if somebody else has those words he can just go ahead and drop you and that's why really important the seed word for is it's your key to the blockchain don't share it with anybody don't keep it on the file in your laptop don't keep it in your in the file on your phone don't screenshot it always put it on a piece of paper because when i ask the people do you still own your certificate of birth 99 of people are saying yes then i ask did you lose your certificate of birth in the last 20 30 40 50 years depending who i talked to usually the answer is no so now you might have an idea of where to keep this private key because usually if somebody goes in your home and drops you he's about to take your phone your computer your cell phone and not like your document map you know so um yeah and it's highly profitable for these scammers to go out and try to trick people into sending them their private key so that's the 12 or 24 words that um that is part of the equip encryption key that allows you to access your crypto and so because it's so highly profitable i mean we've had on our youtube shows we've had people impersonating us people you know re-playing old streams of richard hart or the founder of ethereum or anybody and so there's my prediction is that that the world will move more and more towards a blurring of reality between what's a scam and what's real and really um it's going to be the technology that allows us to verify things and so that's why security is so important and the next section i will just go ahead and show you what steps are to be done when you want to create a stakehrap smart wallet and i will just quickly go over that so when you downloaded the app the first thing you see is uh set up progress zero of four and then um just press the sign in function uh sign in means that uh you would need your google email or your apple uh id email and just go ahead and use an email address where you know the password of because if you have any problems with the app then you go with this email address you're signed in you go at help at staker.app write your issue you have right now and then they already know okay you are active user because you're in their database and um they know it they will never know your private key so if you use lose your private key staker app cannot help you and then just like select the account you want to to use sorry that this second one is like in german and uh then you have fulfilled the first step easy step just your email second step set up the smart wallet uh and here you get to shown those 24 words uh always different 24 words so this private key is individual for each and every user and after you wrote down this private key please always use a piece of paper and the pen for that and don't screenshot again and after that you confirm here and then you put in your secret recovery phrase again just with one space in between and um what you see where here it's like success when you wrote in all the 24 words but after each word you press uh the space and then you see like one valid word out of 24 two valid words out of 24. so if there is like any error on the piece of paper you just wrote down your words you will see it by re-putting it in also when you buy yourself a new phone for example then you just download the staker app again you use the same login the same email and then everything is uh is there already but the functions of the app are disabled because there is no private key and you need the private key to send and do the things so when you have a new phone you would need your piece of paper again you go uh on wallet you put in like a secret recovery phrase you put it in and then you have the whole wallet functions enabled again if somebody robs your phone you can just use help at staker.app please the disable all the functions for my account so they can disable all the wallet functions they don't have any private key but they give you this user interface with these functions so if you write an email from your signed in email account they can disable or enable the functions of the app which is also enhanced security function what you also have in the wallet app and is biometric security so uh it's it would be hard for people to get into it so this section is actually a bit of an old section uh stake wrap team is already rolling out their version too and with their version two it's like a uh in-app purchase possibility and here in the crowd we have uh adam here who helps the local community and for everybody who wants to set up a stake rep wallet in the next couple of days he uh wanted to help out for everybody who needs help for that as well anything to add from your side will you yeah so you know we say don't ever put your seed words anywhere and then on the screen it's showing entering them during the setup phase only and you're entering them to make sure that you wrote them down correctly and then you know you're going to go learn about hex on youtube and twitter and then if you ever have a problem you're going to post like hey how do i do this and then scammers are going to message you they're going to dm you they're going to say like maddie all in they're going to use my username to to you know comment on youtube and stuff and so we really have a problem here with uh you know being able to trust right and so that's why it's so important to be educated to take your time to not rush into anything you know because that the hackers they're being and the scammers they're being well funded right by people who are not well educated so and they are well educated cell person so they will create with the fishing methods they create like a lot of pressure on you in order that um they yeah are successful like every 10 persons they are trying to do it or something like that so really be aware never show your private key to anybody else and um you have a lot of resources to cross verify for example yeah and especially when it comes to telegram don't believe anybody who is like dming you there is no stakehrap official support who is like riding you first and there is no uh hex support team who is writing you first yeah and and on the other side of things if you take the extra five minutes to just do what everybody else does then you're protected by that uh you know that group mentality because the you know in order for somebody to hack everybody in the entire system um then the basically the blockchain would get forked to push that out so so at the end of the day we can we can be secure and we can be confident as long as we're doing you know what the norm is for the level of security that the community has yes and now we are coming to the most interesting part of the hex ecosystem the utility of effects the hex staking so when it comes to hex taking we have a dynamic interest system and so first of all here everybody who already uses the staker app actively or only to visualize his stakes has um the option to click on global stats and this picture is already like three weeks old and what we can see here is the average apy so like what would you earn if you stake your hex for one year which is about the 12 shown here and we see like how much active stakers we have in the ecosystem right now it's like about 72 000 already we see how much hex is staked here just calculated in usd and we see for how much average duration it is take so what this global statistics show us is that over 70 000 people staked over 10 billion dollars worth of hex for a weighted average duration of 5.8 years and this is already something pretty special and new for uh a cryptocurrency or for the market yeah staker is just somebody who time lacks their hacks and that means that you can't sell it and now let's break it down a little more so protect your purchasing power when it comes to hex and when it comes to us dollars both currencies are inflating but when it comes to the us dollar you all know that we have a little group of people just deciding when uh and randomly how much money to create out of thin air and you already know that if you go to the supermarket like uh because of all this money creation of the last year of the pandemic now we see already the inflation kicking in and this will continue and you see like that's why the dollar has lost about almost all of his purchasing power so hex is inflating as well but hex is inflating based on mass not based on the little group and randomly hex is inflating by 3.69 percent per year not more not more ever so this is a fixed mass function and this is also the answer to the question where does the profit come from when it comes to hex so the hex interest is newly created inflation it's like the same system as if um the federal reserve would create new money and only puts it to the savings accounts of the us dollars so here new hacks inflation is minted and this inflation represents the interest who who you can get as a hex staker yeah when when new money is created it makes the money that already exists less scarce right and so especially when that money goes to the people who are already in power right um that they get to buy everything at today's prices and everybody else has to buy things at tomorrow's prices which are always higher right but in hex it's a better economic policy it's a better system not just because we know it's going to be the same over time but also because it's only paying the new money to the people who are the most long-term thinking in the system so the people who time lack the longest get the most interest and the interest is generated from the inflation and so it gives a tiny incentive for people to not hold liquid and and that incentive allows people to get rewarded for waiting their turn to solve all right so let's go on just again what should you remember here hex is inflating by 3.69 per year and this is where the money comes from when it comes to the interest you can earn and then next thing you need to know is the hex staking ratio a few more people let's get in all right so here next chart the hex staking ratio if all of the hex in existence all the hex in the whole ecosystem would be actively in a stake then the whole staker class so everybody who is actively staked would get an average of only 3.69 per year and if only one percent of all the coins in existence in the ecosystem would be actively a mistake the average per year for the whole staker class would be 369 percent and as of right now we are about those 10 percent staking ratio those 10 of the whole ecosystem in the active stake and that means that if your average staker the average staker i showed you at the global statistics is the staker who locks up his money for 5.8 years so the average staking interest per year is those 37 38 per year if you are under the average so if you are only staked for one year you will get less than the 37 percent about like 12 percent for a one year stake this 37 38 apy is for the average taking length those 5.86 years and if you're staking longer than that your option is up to 15.2 years 5555 days then you will get more than those 37 38 per year so if hex is so good why are only ten percent of people staked um the reason for that is because in the in the launch phase of hex there was a special address fix fixed in the code so it was programmed everybody knew that it is existing it's called the origin address and this address got a copy of all new hacks created during the launch phase and this address holds about uh 88 of all the hex in existence and just holds it and holds it liquid in order that all the people who are in hex can get a part of this high interest per year so you and i were studying what hex was before it was even launched two years ago and you know what was happening was there were a bunch of really smart people putting together computer models of what's going to happen if we have these set of rules and so it turned out that the best possible system was one where basically the creator of hex would hold a bunch of the coins and that would allow a higher apy for everybody who's time lacking because that origin address is not time locking their coins they're giving more for the next guy and so that uh you know that would be a risk right a centralized risk if it wasn't that the origin address also probably has billions of dollars of bitcoin and billions of dollars of ethereum and so that makes it so the game theory says that the hex won't be sold and it's just creating a higher apy for everybody yeah and we are on the blockchain so we can look up what each and every address is doing even if you don't know the ownership behind it and if we look at all the uh the origin addresses or the origin address itself and where it sent money to um you can follow all the routes and you will find not a single transaction where any hex got sold so far and this is like a address made for for the hex ecosystem it's not made to enrich anybody so what people uh don't realize is that when it comes to hacks there is nobody who needs to enrich himself when it comes to usual cryptocurrency there is always a founder who wants to enrich himself when it comes to richard hart the founder of hacks he was financially free before bitcoin even existed traveling the world for a decade and um then got into bitcoin in the beginning in 2011 uh spoke at a lot of bitcoin uh conferences and so on and then just saw that it is that the technology get got older and older and just wanted to uh bring cryptocurrency where they should be and then he developed hex in the case of over two years and it's not about enriching richard hart here it's about enriching us and to free the people here so now we know hex is inflating by this 3.69 this inflation gets to the sticker class as the interest and here we see the interest in millions of hecks over the course of the last two years so we have here the launch phase of x those 350 days and after the launch phase we had the little bonus and from there we are only going with the inflation of 3.69 percent we see here a flat line if i would do this workshop in three years we would also see that uh that rising a little bit so why is that the daily interest in hex is based on how much hex there are in existence as hex is inflating by 3.69 per year there will the space will grow and grow in the future that's why the daily interest in millions of hacks is will also rise in the future and medley would you like to go ahead and explain us those spikes so those spikes are whenever somebody ended their stake early and had to pay a penalty for that so part of the system of hex is saying that if you say that you're going to time lock for a certain amount of time then you're held to that that's part of the system of saving you from yourself right when bitcoin went from a dollar to a thousand dollars a lot of people would have sold right because they wanted to get that 1000x right and then it continued to go up and up and up and so to have a mechanism in hex it's um there are penalties that you pay right almost draconian penalties that you pay for ending early so if i make a 10-year time lock and i only serve three days and then i try to end it i'm gonna get zero i'm not even gonna get my principal back right and so it's it in that sense it's really a super immutable promise that you're making to yourself it's and that's part of what the bitcoin you know what what the crypto technology can do and then that also helps keep the price up if everybody's sticking to their word and so whenever you know some of these might have been hacks where the hacker really didn't know what they were doing in other cases it might have been somebody who put in a thousand dollars at the beginning and now their stake is worth a million dollars and if they if you serve half your time you can get your principal out and so because their principal went up 100x maybe they wanted that hundred thousand dollars now instead of waiting for the million dollars later and so um so that's what we see is that all the penalties that you pay for ending early are paid to the uh paid to the people who kept their promise so everybody who's time locked is going to get not just the apy from the contract but also all the penalties that are paid exactly yeah nicely nice explanation thanks maddie and and this is called the truth engine of hex so when it comes to hex staking you should sync a minute before you just act because you should think about um how would you like to go forward what type of flexibility you want to have in your staking portfolio but i will come to that and here the last chart would be the hex interest per t-shirt and now we are going to explain you uh one yeah complicated thing for when it comes to hex it's called it the shear system so you are in control of your money you decide the amount of hex you want to put in the stake and you decide the days you want to be actively in this stake you can choose about a fraction of a hex up to billions of hex the amount and you can choose one day up to over 5000 days in the amount of time the longer you choose to time lock your hex the more bonus hacks your get and then those hacks will get transformed into t-shares so for people who are just staking for one day they get a little bit of shares for people who are staking 10 years or longer they are getting like 3x this amount of shares and what this tells you is that the main main portion of the interest of hacks gets to those people who believe the most so it's also like a positive game theory here and the chart here shows you how much hex you get paid on the daily pace base per uh a trillion shares so this t just stands for the mathematical term trillion so for a trillion shares you're getting about 5.8 hacks per day and this interest is not able to collect on the daily base it will just add to your active stake and you are get you can get your principal and all the accrued interest only when your time is due so only when your stake comes to its duration it's called i guess yeah maturity then you can get the principal back and all the accrued interest if you're going in it before that we you need to pay penalties which then go back to the staker class and also you should end your stake within 14 days of the time you set because if you don't come back there is nobody who gives you the money you need to come back yourself to actively end your stake in order to get your money it didn't have to be this complicated but it kind of did right so on the ethereum blockchain you get charged for every computation that you run right because it's a decentralized computer and so there had to be a way to account for all of the hex in existence and all the people who are time lacking and so that led to this slightly complicated system of just basically calculating what is your share of the compound interest and so that's what the t shares are is it's your share of the compound interest that comes at a dynamic rate and so um it's it's something that's it's a lot to ask for somebody to understand what is money what is bitcoin what is hex and then what are hex shares but yes so i can't just pull out the interest yes you can't no you what you can do no you can't so what you can do is it you choose okay i want to harvest my interest earlier then you just stake earlier yeah so if you say okay i want to get my money back in a year yeah several stakes yeah so it's about it's up to you how much stakes you will do but i'm getting there and what would happen if the at 80 just pulled out then he would ruin something that he built without benefiting yeah like so he burned the village exactly yeah he would kill his baby right and uh when he does not want to kill his baby i mean when somebody has billions of bitcoin and billions of ethereum and like 1 billion usdc yeah why would they sell their billions of hecks that's why i was asking you why would that happen excellent question yeah critical thinking very good yeah and q a starts in about five minutes so keep keep your questions to yourself a little bit more i will just like to i'm like no no five minutes more than then we are in the q and a so if you want to yeah i am i like to be in the hot seat i like this position here so if you want to learn a little bit more about t-shares and their uh deflationary character at the first hex online conference hosted by maddie in the beginning of this year in january we did a keynote presentation so ellen and myself uh called the power of t-shares if you look up this title on youtube you will find it and there we talk uh a little more about t-shares and how beneficial it is to stake for 15 years and not only like for 10 years for example and you guys did a great job of predicting some things that not everybody were predicting at the time and i'm excited that you'll be joining for the online conference coming up here in january in in a couple months and you'll be doing an update to your model so that we'll be able to see how the predictions landed and what they look like in the future yeah and here just to visualize uh those are like three stakes uh my buddy ellen did for his brother in the beginning and this is to show you how the system works a bit so when you look up there uh on the right for each and every every stake here you see it's in a principle of ten thousand hacks each and they are made around the same time uh they were made around the same time the one up there it's a two-year steak this one is a five-year steak and this one is a 10-year steak and here you already see like the location of t-shares for less time he only get the 1.41 t-shares for mid time frame for the five year one 2.21 and for the 10 year one he all almost got three t-shirts so if you compare it with the two year to the ten year he already got more than doubled the amount of t-shirts and uh the t-shirts are representing your interest power the more t-shirts you have the higher your daily interest will be so and that's why i'm saying like the most interest gets to the true believers of the system because here you see of the 10-year stake he already accrued eight thousand dollars of interest in the form of hex for the five-year it's only six thousand in the form of interest and for the two year it's not even four thousand dollars in the form of interest so the longer you believe the more interest you get from the get-go but you will need to wait until the stake ends because for example the first one has 81 uh duration and this will give us now 5 200 but it would still be a penalty of about 3 000 even with eighty percent duration and the other two is 27 and less than that you will get nothing if you end it right now the thing is if you end your stake before the 50 mark uh it cuts into your principle as well if you end it uh after the 50 mug you will get still a huge hit but you will get your principal and some of the accrued interest and here as well at the 10-year stake also of course it will would nuke the stake if we would end it now anything to add sounds good all right and now here as people already ask your personal staking letter and yep let's zoom in a bit what i would really recommend to everybody in the crowd no matter the age is to use the whole timeline what we have here the whole 15-year timeline and then the first stake so at first i would recommend to accumulate my hex back uh not go all in at one point of time never go all in never go all out and like dollar cost average in which means like putting in some steps uh that because nobody knows prices are really volatile nobody knows if tomorrow we are like 20 20 higher or even 20 lower as cryptocurrency are highly volatile and nobody knows this short term price behavior that's why we urge people to not go all in at one point of time so like in several robot steps when you have your hex back and then you start your staking i would recommend you start at the end of the line with the 15-year stake and then just to visualize this would already be a dynamic staking system when you do just three stakes five year 10 years and 15 years because what you can do here with the system you wait five years you already accrued a bunch of interest because five years of time gives you a lot of interest already then you can take your interest from the table enjoy life with it and the principle you can put out for another 15 years and that you can redo every five years from then and after you did the third time you're only have running like maximum staking lengths with the 5555 if you want to have more flexibility you can for example make a yearly ladder but here it's also it skipped the first few years because in the first few years you're not accruing that much interest if remember if you are below those 5.8 years average then you don't even get the 37 per year so here it was a skip of the first few years and then like 10 stakes from the five year mark of course you can also do like the yearly staking uh all the way and another thing for like some older people who say i want to harvest my interest not here i want to have the most amount of my my gains like here in this section you don't need to do a straight staking letter like with uh the same amount of principle you can choose if you want to harvest your the most of your money earlier you can choose like higher principles in the beginning and lower principles in the end and if you're like younger and you say okay in the next 15 years i will still be strong i will still work my job then you can put less uh principle in the beginning and higher principles in the end and to keep your staking letter dynamic after each year you end this stake here you harvest the interest and you could restake it to the end and that's how you can make a dynamic uh a dynamic staking letter so a dynamic staking letter perpetual passive income yeah a perpetual passive income letter so that's what i did is i did a staking ladder so i you know in the early days i made a steak for every year on my birthday and then some years i made one for bitcoin's birthday which is october 31st just to rub it in bitcoin's face that we're doing so well and so every year on my birthday i've got a big steak coming out and then i'm gonna take that so this last year in june i took my hex i restaked the principal for another 15 years and so that's the 16th year on my ladder and uh basically yeah so like somebody new coming in i would recommend you know maybe do like a 5 10 and 15 year and a liquid which means you're not staked at all and that way you have the four steps and that way if the price appreciates and you need some money then you can you don't have to end your five-year stake early you can take the profits there and then you know you can fill in the other years as you go or for example like here here you can have the staking ladder and you can build up like a short-term staking or just like keep a liquid part you know for to for your own flexibility so it always comes down how much flexibility you want to have in your own bank you know so you're your own bank when it comes to hex and now in the end because i guess a lot of people are are curious to find out what comes next so when it comes to richard hart he is about to start a new blockchain project as well called the pulse chain and let's talk a little bit about pulse chain so first of all this will be a new blockchain uh it will be a faster blockchain it will be a cheaper blockchain and a lot of people are already waiting for it so there is already a lot of financial interests that it starts and what happens with the start of pulse chain the thing what happens is that each and every hex you hold liquid or in an active stake will get a doubling so your whole hex portfolio is about to double when pulse chain starts because now you have everything uh on the east uh blockchain and then everything is running here on the east blockchain then you have this event it's called the fork and after that we have two blockchains and you have the same portfolio on the east chain then on the pulse chain when it comes to those so called erc20 tokens which are all the coins and tokens running on the ethereum chain anything else i missed when it comes to pulse chain yeah i mean so hex is a hybrid proof of work proof of stake coin and it gets its security not by burning as much electricity as possible but by being built on top of ethereum and so when ethereum started to raise its fees higher and higher because they're in a security racket with the super computers that stop double spends that's when the people in hex started to say wait a second we need a better system to you know basically to be able to verify our transactions and so that's when you know richard hart put together the dream team of about 80 people who understand game theory and computer science and created this idea to create a version of ethereum that is proof of stake basically what they've been talking about in ethereum for a long time and to actually make it happen and so that's what we're seeing now with the test net being live we're able to see that it's faster cheaper it burns fees and so it's deflationary and it it's not destroying the environment that's right and so and here uh one of the last charts in the presentation this is a shout out to the whole hex community to all the supporters so here you also have like uh a lot of uh youtubers who are talking about hex and pulse chain or for example hexcrafts.com uh we are using his graphics here it's also a great tool uh what you can use to onboard new people and one special thing up there to the right is the things which are about to come from maddie so in january next year hexpo dot online which is a online congress free for everybody to attend on youtube and in march uh this is six to the ninth in vegas the hex conference details about that would be um found on hexconference.com and thank you maddie for being with me here today i don't know your time shall i just know you have an important uh live stream uh tonight as well and would you yeah so i've got another about 20 minutes here to do this okay perfect yeah i wanted to ask you like if you will be here for the q and a or or you have still 20 minutes perfect so then thanks everybody for the presentation and now let's start the q a [Applause] so rob you want to have a microphone yeah we got mike's live up there i just have them on mute so if someone has a question go ahead and just raise your hand and we'll get you a microphone because we're going ahead and recording this whole thing uh the blue one blue one [Music] okay so my question is is how should i be able to forward this money if i were to die can i put it in trust can i put it in my will um yes you can put it in your will for example if you trust your notary to keep the the the 12 words safe or i don't know you know i'm not an american so can you hunt yeah so you were how would you do that you would educate your family um so what some people would do is called it well it doesn't matter what it's called but basically you would split your 12 words or your 24 words into two pieces and give them the two people that you trust and that way those two people could come together and recreate your wallet if something were to happen to you all right correct yep yep okay that's a good good suggestion so i'm just speaking from a computer science perspective of understanding and also from game theory i have a background in clinical psychology and so basically what we're talking about here is can you trust a lawyer with you know the words that they would have the private key and they would be able to run away with the money once again folks we have microphones please wait for the microphone so we can get the recording on camera so the the cryptography part of crypto is where you have a string of 50 letters and numbers that can it's called the private key and that can control the money and anybody who has the private key can move the money wherever they want part of the reason why i'm leaving early today is because i'm going to do a show with somebody who got hacked for 80 million dollars a couple days ago and uh yeah so um so that's kind of what i'm speaking to is the fact that these 12 or 24 words that are the cryptographic proof of your 50 character string of letters and numbers that's your private key if that's not protected then somebody's going to run away with the money once it's worth enough and that's what we see with the exchanges too yeah that's the way it is right now yeah when you get paid um doesn't it come in a check for your name or no there's no checks right it's so how do you get this money i don't even understand yeah so um so i bought my crypto through coinbase um there there are other options gemini so i bought ethereum and i converted converted it into hex and then i held the hex i time locked it i waited until my birthday and then my i had to end my time lock so i had to [Music] get my principal and my interest out and then if you know the portion that i was able to sell that's uh i traded it on a decentralized exchange for u.s dollar coin and then i sent us dollar coin to coinbase and they sent it to my bank account really really quick so that's cool so it's like that the same way you need to go into the market you also go out of the market so first you have your u.s dollars then you go with a central exchange who is offering you either usdc or ethereum so you send your us dollars there convert them to usdc or ethereum then you send those to your wallet exchange it for hex there you can stake your hacks as well you wait until your stake ends and until the value is there you end your stake you exchange it decentralized back to either ethereum or to us dollar coin then you send those ethereum or usdc out of your wallet back to the exchange exchange it to us dollars and send it back to your bank account so this is the route in and the route out as well do you want to know what i bought yes yes so i bought a mint condition delorean from 1981 so it's the back to the future car exactly yes and so the reason i got it is because it's a symbol of paying your future self and that's where you know my show comes in so the youtube show that i do is called hex therapy live and we talk about how if you're time locked right then you have every reason to take better care of yourself the more the value goes up and so we talk about how people can work on self-improvement i understand the date keeps changing but do you have an idea of when posters are going to drop 11 18. no i'm just kidding yeah so if you if you ask alan he he thought it will be the 18th of november and um i mean on the on the last live stream richard gave a little hint he says like uh after the test net v2 goes live about one to two months i'm not sure personally about this one month maybe yes but i would say q1 of 2022. okay what can you guys just talk about um if you do like a 10 year or 15 year steak that you can ladder it and kind of pay yourself in between you don't necessarily have to wait the full 10 years for it that there's actually options to pay yourself through the laddering and stick wrap you want to go over that i i don't cut the question so you have a chart that shows um different staking strategies yeah and he's saying that a ladder is a better way to be able to get some gains in before the 10 or 15 year mark you don't have to send it all the way out you can spread it out so that's what he was saying but i think you've already covered it in the yeah but what the what is the question to that just that people know that if you do a 10 or 15 year steak you can you can do a multi steak and and for a one-year payouts two-year payouts so it actually breaks your stake into a into within right with inside state grabs yeah they're one click-staking letter this was uh part of yeah yeah so if they want to if they do a 10-year steak you can pay yourself every two years you know instead of having to wait a full ten years this is not a ten-year stake those are like five stakes for two for four for six for eight and for ten years so yeah like this right it's just a way for people to to not have to wait 10 years so just they know that there's ability to do that that is a question what you need to answer for yourself because i don't know where you are in life i don't know how much money you want to put into it i don't know uh what is your your time preferences you know so those are the questions you need to answer for yourself like how much flexibility do i want to have how much do i uh how much interest do i want to earn because for sure the time frames is a little interest for longer time frames it's a a lot of interest and i cannot choose for you the amount of hex you should put into each and every stake should you do like a straight letter with the same principle do you prefer increasing your principle do you prefer of decreasing your principle those are all the questions you need to answer for yourself because those are like really personal questions and the longest stake that you can do is 5 55 days and so that's called the quattro cinco and you know it get a lot of people feel like they're in the same club when they do that mm-hmm thank you for answering it so my so my average stake length is like 9.9 years right now and yeah um but i but i did spread it out so i have steaks coming out every year on my birthday but i i waited so i put a bunch of steaks for every year and then i added more at the end so your advice is to stake this throughout some sort of succession over the long term heading toward 5 000 i mean well i can't give financial advice because i'm not a financial advisor but i can say like yeah what i did and and other people can say what they did and it's it's really about you because i i know people who uh bought their first tax back a few thousand bucks put it out for five five five five and then they started re-accumulating and working their way back uh then like for my nieces and nephews of course i do five five five fives because they are supported by their family so this is a individual uh question for you and yourself you know how much control would you like to have over your own money over your own bank and uh how frequently would you like to communicate with the blockchain and how frequently would you like to harvest interest and then answering those questions you'll get a better and better idea of how to prepare your own staking letter okay hi there i just want to say thank you to crypto schmalberg and to freedom tv and maddie allen this is a great event happy to be here my question is with the staker app is enough to be staked to benefit from the fork to get on you know for the pulse chain yeah yeah so uh stay when you are active stake rep user you will get uh the full fork as well so and they are uh they will also create the user interface for every active staker app user where you will have just a button to switch between the ethereum network and the pulse chain network okay and um for instance i have children that are just you know becoming starting to become early adults here and how much can they like without what i've noticed with other platforms exchanges they can't get onboarded because of the their age that ky um c but it seems like no with hex they can have some control uh yes they can so it always comes down do you want them to control their own money their own private key or do you want to just make it for them so if you want to make it for them you can generate like just another address over your private key not over your stay corrupt it would be like if you're uh having a hardware wallet or a different kind of wallets like just create a new one and make a stake in for them on this on this wallet on this public address and then you can download them the staker app and just insert this one public address doing it that way they don't have control over the money so they don't can accidentally press the emergency button and stick button so it always depends like what you want for them so when it comes like to my family and the little ones i said okay i will do that for them created like different uh addresses uh put a mistake for everybody and then they downloaded the staker app without using the smart wallet in there and then i just send it them their public address to put into that they can just mirror and watch their portfolio grow and they cannot it up thank best thing you ever say all night i understand yeah you're welcome any more questions down there is there an official uh like penalty structure i know you talked about say you're in ten years five years is it like is there a specific like vesting schedule available online that you can refer to so if you got a magnet the back to the future magnet that i gave out um if i have one okay perfect so if you go to that qr code and one of the links on there is called the hex layman's guide and then there's another one called the layperson's guide and they were made by different people and those both break down the hex smart contract they link to it so you can see all 2500 lines of code do you want to know what my favorite line of code is in the hex smart contract yes i do actually it's line 718. perfect so on line 718 it says what the maximum length is that you can stake it's 5 55 days and the reason i like that is because it leaves meat on the bone for people later on because it uh defines what the longest steak is and sorry one more question what's the shortest steak you can do uh one day one day yeah don't do that so no the shortest amount is one day so you always when you so that the hex smart contract um calculates in days so in days based on the utc time uh universal standard time utc yes yeah like this time so it's like how much hour is it that it's like uh this time plus five or something like that yeah and um when you make a steak like right now then when utc time would be zero zero your steak would be live uh then you can stick for example one day you wait 24 hours when the day ticks over again you get your interest and you can end stake it um but each and every time you have like this one or this not this one pending the this nearly one day of pending because only when the smart contract takes over all the stakes uh go live just as a you know for the east coast it's um at 7 00 pm currently is utc yeah it's between five so uh so uh yeah thanks for uh you know for the meetup um i have just one question is there a desktop version of a sticker app no there is not currently there is not a web version it's work in progress so the stake wrap team started about a year ago and they were starting now with the perfect phone app and in addition to that there might come a web version in the future but for now there is no web version now so using a laptop you would use meta mask metamask dot io any more questions so if you have like a stakeout for the 15 years is it possible to take out any money against your stake as it appreciates maybe there will be some systems in the future where you can get a loan against your stake as of right now there aren't any of these systems so right now i would say no and you are not able to collect any interest only if your duration matures so only if your stake matures you can collect your principal and all the accrued interest on it or if you serve half your time then you can end the stake early you can get your principal out and then all the interest goes to the people who have been letting their stakes mature don't encourage people to emergency and stake money all right so i guess we uh answered uh everything more or less you know so after the workshop we can still wonderful thank you thanks a lot and uh so after the workshop i will still be around you know already for the thing so just one thing medi time to go yes all right so thanks a lot to maddie for uh please put your hands together for maddie all in [Applause] we stream every tuesday night for four to five hours and so you can check me out on youtube maddie all in thank you all right so maddie will leave to his live stream for the setup and so on and we are going and we are heading over to the last section of today's workshop which is the giveaway section and at first we have to give away a lot of hex merch we have books here we have heads here we have t-shirts here and then uh after that the main prize today would be 5550 hacks as a giveaway and all right folks we are almost done with the workshop we're just going to do the raffle now uh are we ready yes okay so then let's pick some winners here first winner would be simon i stand at uh yeah yeah yeah the time [Applause] second one would be sinatra thank you the third one next one is hisham updo yeah congratulations perfect so next one tony cove yes vanessa is a little weird [Music] where is billy [Music] right there then i have one of the family here shivalia who is yeah is it correct no [Music] so next one don montoya so we still have some words left yes uh joshua mossy hello [Music] is it the c in the l or is it uh i guess it's malone maloney three more or three more okay just keep going uh brian c yeah [Applause] [Music] then we have the last one one book two two broken uh sue b and last merch when uh would be gina yeah um and then shake him and then you pick it yes kaylin kaylin picks the winner kaelyn picks the winner [Music] come here [Applause] come out to me come up to me okay okay all right and uh during during i do the the giveaway and so on uh i would like to thank adam and lindsay to bring everything here together please come out as well and talk with the audience yeah no problem [Applause] so we have microphones so congratulations to you and let's go here and we are creating the wallet right now you have a cell phone yeah yes perfect all right just want to thank everyone for coming tonight um and lindsey yeah i'm adam this is lindsay we're uh we're from viber finance here we do uh crypto consulting in the area so anyone here that um that um downloads their wallet and installs it come get uh my business card and send me an email with uh your wallet um address and i will send you some hex so we can get you guys all all started and uh your adventure can can begin and i'd like to also like to thank uh george in the back he was one of the donators for uh thank you george so and he owns uh johnson supply and troy so anyone all of your heating and cooling needs yup anyone needs heat or anything this winter it's a guy back there i want to thank brian louise he was also one of the donators for the hex so yeah just want to thank everyone again for coming so they're making it possible for each one of you today to walk out of here and know that you'll have hacks coming to you and that you have support in the area to show you how to get the app loaded on your phone and get you all set on your way congratulations to leroy that is a huge prize and if anybody has questions or anything uh about hacks or or things just reach out to us there's a couple other people at the company that are here to help so yeah we have a whole team ready to onboard you yeah thank you all right so that uh wraps up our workshop for this evening i hate to be that guy but uh we're going to do some interviews in here but we're all still going to hang around for a little about a little bit if you have questions you can meet us in the lobby and ask whatever questions you have just so everybody understands i think when you did registration you you kind of figured out the name tag system but those pink tags if you see those guys ask those guys questions right they know they know the answers so go ahead and meet us in the lobby thank you [Applause] [Music] so [Music] you

Channel: Mati Allin HEX Therapy Live

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Id: lOCioZ2YZy8

Length: 94min 37sec (5677 seconds)

Published: Tue Dec 14 2021