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 --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

Is Bitcoin the perfect money, or is it the worst money that solves the most essential problem, as simply and reliably as possible? In true "New Jersey” style, Bitcoin doesn’t attempt to be everything, it attempts to do ONE thing as beautifully, & as unambiguously as possible. Today we read a fascinating piece from Bitcoin’s rich history, originally published in 2011, and edited, added to, and updated for years since. At Gwern.net, Bitcoin is Worse is Better: https://www.gwern.net/Bitcoin-is-Worse-is-Better Don’t forget to check out the original piece with a literal ocean of links and further exploration. If you want to waste 15 minutes, or half a day, there’s more than enough to explore. As a great (& short) read to accompany this on the “Rise of Worse is Better” philosophy, check out the original post by Richard P. Gabriel below: https://dreamsongs.com/RiseOfWorseIsBetter.html For more on the history of Bitcoin, the open source movement, and the “worse is better” design philosophy, I highly recommend the Iterative Capital Thesis on The Cryptocurrency Phenomenon: https://anchor.fm/thecryptoconomy/episodes/Whats-Really-Driving-the-Cryptocurrency-Phenomenon----The-Iterative-Capital-Thesis-e2u7qq If you want to support the show and join the Cryptoconomy Telegram crew, become a patron below! https://www.patreon.com/thecryptoconomy --- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message