The scams in the Bitcoin & crypto space are, unfortunately, not low in number. Sometimes the only safe option is to ignore them, but there are the few occasions that require a thorough breakdown of just how the scam works, in hopes of protecting the often naive and uninformed noobs that enter this space. Today we read a piece by Goldman Sats breaking down the inner workings of the HEX scam, and how it is designed for one thing, and one thing only, to take your money.
Listen to find out more!
Don’t forget to drop the max applause on this article and for @TooWumboToFail’s excellent research into how this works and making it available to everyone. And if you ever hear word of someone thinking of participating, don’t forget to send them to this article or episode before they do.
https://medium.com/@TooWumboToFail/under-a-hex-396847b86e57
Here is the "advanced analysis of how HEX works" link buried in the website so anyone who wants to explore further can do so.
https://docs.google.com/document/d/1P0ZDaBQx4ghkdX5IUwZb1n8ThvYf7i22MSt9Gm00JRU/edit
If you want to support the show and join the Cryptoconomy Telegram crew, become a patron below!
https://www.patreon.com/thecryptoconomy
"Dai would become best known for an idea he casually announced in November 1998… 'I hope this is a step toward making crypto-anarchy a...
"The system is rigged." - Jimmy Song How does out monetary system work and what does it even mean for the government and central...
Full nodes without even needing the internet? That's right. A massive improvement to the decentralization & alternatives for securing Bitcoin validation infrastructure just dropped...