BitcoinHEX: Crypto Mining Interest Pool And Blockchain Project?
BitcoinHex is a digital, blockchain-based project that enables users to claim Satoshi’s coins with sig from #Bitcoin wallet. The project offers a 3.6% interest pool paid to stakers instead of miners. All unclaimed coins are distributed to staked claimants within 50 weeks.
BitcoinHEX Crypto Mining Interest Pool Principles
BitcoinHex embraces the following principles:
Weak Progress—Fewer Developers
The project believes that with a larger pool of developers it can implement better activities than dealing with a smaller community. For that reason, BitcoinHex embraces the Ethereum-based ERC20 token that gets the full advantage of the largest community of crypto developers. This enables them to execute new inventions such as atomic swaps, distributed exchanges, and others.
Poor Incentive Alignment—Free Riders
The crypto space is quite unpredictable. One team works hard to implement something fresh and cool, and a whale wakes up one day to crash the market. This happens because of free riders.
BitcoinHex platform comes with “We’re all Satoshi” feature that gives claimants the opportunity to get all the unclaimed coins in less than a year. In that case, only interested parties can hold the token.
BitcoinHex believes that crypto resources should be distributed equally. For instance, a guy in China with free electricity and nearly free labor, should not get the majority of the newly generated coins. This could definitely lead to inflation and centralization without regard to the core developers. BitcoinHex embraces a fair distribution through various ways such as the 5% referral holding, staking, and just by promoting mass adoption of the project.
Early Claimants Get Most Of The Money:
Bitcoin is 10 years old. By the time you hear about a coin, it could have gone up 10x-1000x. It’s easier to rise from a lower value of $10 than from a larger value of $6000.
Blockchain Is Best In Storing Value:
Being a payment network is simply 10x less valuable. For example, gold is 10x more valuable than Visa, MasterCard, and PayPal combined. However, no one uses it to purchase coffee.
Users on BitcoinHex can send their friends a referral link that enables them to get 5% of their claimed coins, including their speed bonuses if they get it early.
The platform pays 3.69% to its entire pool of stakers, which is shared between all the stakers. If there is only one staker, he/she gets everything. In addition, the longer the stake the higher the payout.
The platform runs on Ethereum, which is a superior blockchain with a united team.
No Silly Whales On BitcoinHex:
The platform does not entertain them. Mt Gox trustee addresses cannot claim. Besides, individual claims of between 1000 and 10,000 BTC penalty from 50 to 75% linearly scaled bonuses.
Early claimants get more bonuses. In the first week, they are entitled to a 10% bonus, which decreases by 0.2% per week. In the second week, they get 9.8%, and the third week 9.6% in that sequence. In the end, 2% of all unclaimed coins are given to claimers every week until none is left at the 50th week when no new claims are made.
Critical Mass And Virality Bonuses:
When more people claim BitcoinHex, the inflation pool gets bigger. For example, if 100% of BitcoinHex is claimed, inflation grows by 20%.