Hex Coin Howey Test
- Where does the ETH go? You must have no expectation of profit from it. Read the "Howey test" to understand why: https://youtu.be/Uv2mFAOMzkM?t=2100 | https://youtu.be/Uv2mFAOMzkM?t=6425 | https://youtu.be/Uv2mFAOMzkM?t=7029 | https://youtu.be/Uv2mFAOMzkM?t=7122 |
- When you send ETH to the contract, you lose it, and must have no expectation of profit from the work of others from doing so. Read the Howey test to understand why.
- HEX is not an airdrop or a fork. You mint your own coins when you FreeClaim using BTC or transform ETH into HEX. A wonderful innovation! An airdrop requires someone else control the coins and give them to you. A fork requires that some code exist and be forked.
- Bitcoin Miners run computations and mint their own BTC reward if their computation matches what the network consensus code requires.
- HEX Stakers run computations and mint their own HEX reward if their computation matches what the network consensus code requires.
- In either network you can run your own code on your own machine, or pay someone else to run the code your choose for you to mint your reward. In Bitcoin the code lives in the node, in HEX the code lives in the node at a contract address. Paying a fee is paying someone to run your code.
- The Howey test (https://www.google.com/search?q=Howey+test) defines what U.S. federal securities laws apply to, which the SEC administers.
- You must have no expectation of any benefit whatsoever from any ETH sent to the HEX contract or any HEX the origin address receives. You must have no expectation of profit from the efforts of others. You must have no reliance on the effort of others. HEX is just a piece of inert code at a contract address on the ETH network. It can do absolutely nothing on its own.
- Every HEX that ever exists is caused to exist by a user creating it himself per the rules of the code that he chooses to run that lives at an Ethereum contract address, and people might refer to as HEX, mining his own ETH block or paying an ETH miner to do it for him. Only you can mint your own HEX when you run the "leaveXfLobby" function's code, as it requires your private key. Only you can run the "startStake" function's code to stake your HEX, as it requires your private key.
- Staked HEX are actually "burnt" or "destroyed". Only you can mint your own HEX when you run the "endStake" function's code, as it requires your private key. This is the same way that all BTC are caused to exist, people run code and "coins" are created when the network's rules are met. Wherever possible you agree there is no investment of money. Wherever possible you agree there is no common enterprise.
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