Hex, PulseChain, and Richard Heart: The Most Polarizing Person in Crypto
The name Richard Heart is relatively meaningless if you are not involved in the bombastic world of cryptocurrency. For those who dabble in decentralized finance, Richard Heart, Hex, and PulseChain are phrases that are bound to ignite diametric reactions depending on your ideologies. Love him or hate him, Richard Heart is one of the most captivating characters in the world of cryptocurrency.
Before we go on further I will lay out some cover my ass disclosures. First, nothing in the article should be considered financial advice. If you’ve visited loudnewsnet.com in hopes of a brighter financial future, revaluate your life. Second, I (The Mean), founder and CEO of Loud News Net, own Hex in my crypto wallets. I also participated in the PulseChain sacrifice as an act of supporting free speech through DeFi.
Neither of these facts prohibits me from writing an unbiased article. I own a lot of different stocks and cryptos. It’s called investing and speculating. I am loyal to none of my financial assets. The reason for the article is to inform our readers of this very interesting persona in the world of crypto, something I know many of them enjoy. I am simply reporting on this subject, and sharing the good, bad, and ugly that I have found in my independent research (you should do the same). Lastly, Richard Heart nor anyone associated with Hex or PulseChain has not paid me to write this article. We are easy, but we aren’t cheap.
Who is Richard Heart?
To the crypto world, Richard Heart, aka Richard J. Schueler, is the founder of Hex crypto. By most accounts, he is from Fort Lauderdale, Florida. He may have lived in Panama for a time. Some say he now lives in a castle. The dude loves his Luis Vuitton and Rolex, although he claims his exploits are to attract consumers of these products to Hex (Hey, fake it til ya make it G). Fact is, there is very little factually known about the man formerly known as Richard J. Schueler.
Richard Heart is a highly intelligent human being. He claims to have once been a member of Mensa but his membership lapsed. His IQ is evident for anyone that has listened to him speak and debate. He has a deep knowledge of crypto and is able to distill complex topics so the average person can understand or relate. His skeptics say he’s a con man. But those takes aren’t mutually exclusive. At least not with the seedy individuals I’ve encountered in my life.
Prior to Hex Richard describes himself as a “serial entrepreneur”. This is a fancy way of saying “I was a muthafuckin’ hustla trying to make bank in several ways”, which is more closely to how I might describe myself. From my research, I’ve discovered that Richard’s past activities include owning a car audio business, releasing self-help books, and once upon a time ran an email spam empire and earned the title “Spam King”. Not to be confused with this guy.
I’m not going to rehash all this in detail. There are plenty of other websites that claim to lay out facts about Richard. I have no way of knowing that they’re true or just some bullshit rivalry or haters. It’s hard to say what is true on the internet these days, so I’m not going to opine on that. For those interested, there’s a website called Google that will help. My advice is to read it all and form your own opinions, like everything else.
For what it’s worth, I once asked Richard on a livestream if he was ever wrong. He rambled on for a good five minutes without producing any concrete examples of fallibility. To which I say, come oooon dude! No one is perfect. Perhaps it was shtick. Nonetheless, insightful.
What is Hex?
The crypto he founded, Hex, is essentially a cryptocurrency version of the traditional banking time deposit. It allows users of the coin to “stake” for a fixed period of time, and receive the option at the end of the stake to mint rewards. It’s designed to be like depositing your money in a Bank CD and if you can wait until the end, you get rewarded with interest.
Of course, a bank customer might be lucky to get 0.25% for a 1-year traditional bank CD as of September 2021. At the time of this writing, Hex.com boasts an APY of 40%. Not too shabby for a series of I’s and O’s and some fantastic coding.
While Hex currently has a fully diluted market cap of over $200 billion, it’s kind of surprising Richard Heart isn’t being showered with bouquets of roses and hydrangeas everywhere he walks. Perhaps it’s crypto peer haterade. Perhaps it’s his YouTube live streams that are braggadocious and have more Louis Vuitton and Rolex products on screen than a P Diddy video.
Cryptocurrency for Noobs
Loud News Net is planning a series of cryptocurrency-related articles soon. The reason is two-fold. First, we realized a cross-section of our fans is enthusiastic about cryptocurrency. Second, Loud has always been about empowering the powerless and giving power back to the people. We honestly believe decentralized finance will be the primary tool in making this happen for humanity over the next 25 to 50 years. Real macro changes and redistribution of wealth, bruv. It is happening.
Despite the hope and promise of cryptocurrency and DeFi, so many of my friends have no clue what this space is all about. We hope to change that. Some are familiar with Bitcoin but nothing when it comes to “Alt-coins” or the more notorious “S-Coins” their eyes get glazed over. So where do you begin to learn about crypto?
For people who don’t understand the crypto space, I encourage them to simply start consuming as much information as they can on it. Richard Heart’s YouTube is certainly a good place to start.
He once described the inaccessible concept of the Blockchain as a spreadsheet where users have individual passwords which allow them to make changes. From there I was able to learn what a consensus network means and the different approaches blockchains use to reach consensus. There a proof of work systems like Bitcoin and proof of stake systems like Ethereum, and a rapidly evolving world of everything in between.
Consume information. That’s is all I can say. Some of what you read will be shit. Other stuff will be the shit to help you learn along the way. Join Telegram channels, watch YouTubers and documentaries. Pick up on key phrases and research those things until you understand. Admittedly, Richard Heart’s streams are a great source
FUD: Fear, Uncertainty, and Doubt
Despite the unprecedented success of Hex there is still so much FUD around the project. The typical FUD falls into 3 categories:
1. Hex is a Ponzi scheme
This is a common criticism of Hex that you’ll find within 2 minutes of Reddit searches. You can kind of see where some people might be misled down this rabbit hole. However, Charles Ponzi used the proceeds from new investors to pay off older investors.
Richard refutes this claim by explaining that Hex stakers mint their own rewards. This means that the interest earned on staked Hex is entirely independent of new investors coming in. The interest is created through the mechanics of the smart contract code.
Of course, the price of Hex is supported by new investors. Therefore, what is the good of interest paid in Hex if there is no value to it? Something I’ve pondered in my decision to invest in Hex. I gained comfort with this notion though, as it could be comparable to what happens with dividend stocks. Investors get paid a quarterly dividend to hold on but the price can always theoretically tank as demand decreases for the stock. There is no such thing as a risk-free investment, this goes for US Treasury Notes too (sorry, college finance professors and your concept of the “risk-free rate”).
2. Hex is a Pyramid Scheme
Detractors scream pyramid scheme on every Reddit thread when it comes to Hex. Pyramid schemes involve groups of middlemen selling to each other to profit before someone eventually sells to a retail consumer or gets left holding the bag. People argue that this is what Hex is. Old investors marketing to new investors, who then sell to newer investors and so on. Of course, the same could be said for baseball cards on eBay.
Richard Heart denies the pyramid scheme by stating that Hex doesn’t have multiple levels of marketing. This is true. The decision to buy into Hex is an individual one. Investors buy directly from an exchange, not a middle man.
The only thing I can say on this one is there is no middle man. However, there are plenty of Hex shills on the internet. But you find this with every stock on the market as well. I’ve been navigating Yahoo Finance message boards since 2001. Everyone pumps their own book. I’d describe it like Obi-Wan Kenobi described Mos Eisley.:
3. Hex is a Pump and Dump and the Rug Pull is Coming
One of the most dubious claims is that Hex is setting up for a great giant rug pull. There is a lot of analysis done by Redditors and other people with too much time on their hands in an effort to say “I told you so” on the centralized ownership of Hex. The Origin Address of Hex (the wallet address linked to the initial smart contract) has been scolded for owning around 90% of the total supply of Hex. This amount has been distributed to several other wallets over time. The theory is that Richard Heart, or those associated with the Hex project, has ownership and control over those wallets. This would ultimately give them control of the consensus of the network, essentially turning his decentralized utopia into a centralized poop pile.
The theory is that one day, the centralized owners of Hex will dump on all the bagholders and crash the price to zero.
There is no doubt in my mind that Richard Heart owns a shit-ton of Hex. He doesn’t disclose any of his personal holdings. Which plays into the skeptic’s hands. My guess is he’s doing this to protect himself from Uncle Scam’s posse at the IRS or SEC, more so than to rug pull Hex investors.
I also have no doubt that Richard Heart has enriched himself through the Hex project, the collection of coins from the Big Pay Day, or his ownership of Hex. He’d be silly not to. But just because he could, doesn’t mean he will rug pull. In one of his videos, he says he’s already rich and “in this for the glory”. And I do believe Richard on that given his tendency to be insecure about his standing in the world. He seems to have the loot, he wants the glory and respect.
I guess we’ll wait and see on this. He’d be silly if he wasn’t skimming. I mean, even Jeff Bezos sells $AMZN to pay for his yacht and divorce attorney fees. This happens. I don’t see Richard rug pulling this and losing all his crypto street cred. His ego needs to be fed. I’m not saying he’s a bad guy, but we all have our needs.
The FOMO and the Hexicans Cult
OMG SkiCat gifted me one million #HEX for successfully streaming my tattoo today!
SkiCat you're a hero to all HEXicans! Thank you so much for your support and generosity! pic.twitter.com/Z0tLvqpby1
— David Feder (@DavidFeder) January 17, 2021
Regardless of the FUD, Hex crypto is making all-time highs every day. On September 6, it reached $0.40. This might not seem like a lot, but considering it is up 10,000x since inception, it’s quite remarkable.
The unabated success of Hex has given rise to both the fear of missing out and a group of faithful disciples of Richard Heart, lovingly known as “Hexicans”. Just as you’ll find the skeptics screaming “SCAM!” from the rooftops, you’ll find an equally passionate following of Hex believers fighting it out in the seedy corners of the internet.
Hexicans are passionate. They unquestioningly believe everything Richard Heart says. This is kind of silly to me, but hey, they haven’t been wrong yet. My point is, don’t let blind faith get in the way of making money, from any perspective. I think Richard would agree with me on this. Questioning is good. Learning is good. Being blind to other possibilities is idiotic. It kind of sounds like these people.
Hex and PulseChain – Richard Heart’s Legacy
The legacy of Richard Heart is linked to the success of Hex and PulseChain. Hex was his first crypto project. With PulseChain he’s taking on the Ethereum network with a promise of faster transaction processing and lower gas fees.
In July, he raised close to $1B (before the massive Hex sacrifice from the OA) for the PulseChain project. Richard has made some big promises about the PulseChain network. If it’s half as successful as Hex then many more people will be learning the name of Richard Heart.
Richard Heart is fighting an uphill battle against his detractors who’ve gone as far as linking him to criminal syndicates in Panama. Richard even raised $27 million for medical research as part of the PulseChain sacrifice, but that didn’t silence his critics. What’s the end game for the FUD community?
A lot of Richard Heartt FUD was coming out in 2020. It’s been real quiet lately on that front. This makes me believe the FUD camp was made up of a lot of the worst kind of people – the “I told you so” crowd. These disgusting creatures love to be negative about everything. These are the people and friends, that when you share a great idea they tell you it’s never going to work. And when you fail they love to take credit for their forwarding. These people suck. (PUBLIC SERVICE ANNOUNCEMENT: If you have these people in your life, get them the fuck out of it.)
Risk and Reward
I’ve been an investor since 2001. My rule is if you never take risks, you will never be rewarded. My other rule is to do your own research, and if you lose it’s your own fault.
In general, crypto is a new market and a little like the Wild West. Scams are out there. Invest what you can afford within your risk tolerance. There are two outcomes. One, all this stuff goes to zero and you lose your investment. Or two, you’ve invested in the most important life-changing technology of your lifetime and you will benefit beyond your wildest dreams.
I say this because of all the controversy surrounding Richard Heart. If for some reason you invest in Hex and get REKT, it’s not Richard’s fault – it is yours.
Richard Heart is a fascinating person. I am captivated by his livestreams where he vacillates the line between arrogance and insecurity. No judgment, this is the human condition. Overall, it seems like Richard has a desire to help. Beyond the Rolex and Louis Vuitton, Richard has a great gift for breaking down the once insurmountable topics of cryptocurrency, Blockchain, and DeFi into terms the uninitiated can understand. There aren’t that many people in the crypto space that have this skill.
Despite what the nerds say, cryptocurrency is for everyone. It’s for the people. It’s for financial freedom. In order to make this happen, the community needs leaders (yes, leaders) like Richard Heart to usher in the mainstream adoption of the technology. Unfortunately for the skeptics, they need Richard Heart more than they currently realize.