Home Trends Richard Heart & Hedge Fund Manager Cody Willard LIVE! What Does Cody Think of HEX Crypto?!

Richard Heart & Hedge Fund Manager Cody Willard LIVE! What Does Cody Think of HEX Crypto?!

by smart

all right all right hello hello welcome everyone to a very special edition of the cabana crypto show i have a very special guest here uh who i would like to introduce because i’ve followed this guy for oh man i want to say well over 15 years maybe closer to 20 now um runs uh i mean he’s written for street.com co-hosted shows on fox business cnbc uh managed multiple hedge funds over the years uh manages one now currently also uh founder publisher of tradingwithcody.com cody willard man how are you doing i’m doing great and i think you’re right you and i i actually remember the original on a blog on like wordpress yeah that was less finance and stuff but yeah that was uh just wrote about a whole bunch of stuff then but uh yeah yeah that’s cool that was good 15 20 years ago so yes it’s great we you and i have even discussed like kiehl’s lotion on the internet before and how i wrote about it it’s actually surprising what a bang for your buck i think it’s cheaper to use great lotion from kiehl’s or jack black than it is to buy cheap lotion i don’t know already yeah we’ve had a variety of discussions over the years i think uh i think song lyrics for like killers and things like that for different stocks and yeah just true a bunch of stuff but yeah let me uh bring in some fellow hexagons here who also like to join in on the discussion fellow hexagons to me some plank owners let’s talk about plank owners you know in the navy that this term are the first ones we’ll talk about some first ones here you might convert you might not you know we’ll see if you walk the plank or if we do but yeah let’s let’s just go around the room introduce ourselves i’ll start real quick um just my journey from uh investing in crypto obviously i said that i followed cody for years i’m a fan of uh his investment thesis he focuses on revolutionary investments um just to give you some of the names over the years google apple facebook amazon um even bitcoin more recently tesla i mean he he was there at the beginning identifying these these names it’s it’s what he does it’s what he specializes in it’s my kind of speed with the growth and um yeah about uh i guess it was like late 2017 we had that last bitcoin um kind of like run up it got me into crypto did not go in heavy at all that’s when cody put out uh a book basically i think it was like around 100 pages or so and and uh i was immediately interested read it pretty much in one night it was a very basic you know kind of thing explaining bitcoin ethereum even like coin things like that and that also gave me um you know set me on my way to learning more about crypto and eventually hex and i put you know it gave me enough confidence to put a chunk of capital into hex which actually has turned out to be just an amazing investment for me and it opened the doors up to this awesome community that we have here and just talking about it and just witnessing the organic growth of the community it’s been quite amazing and i’m proud to be a part of it so yeah with that said uh just throw it over to funding jim gary for uh an introduction real quick yeah so uh i think we’re all in a similar mindset you know it’s about do you invest your time into something or do you invest your capital into something uh because everyone is basically seeking a number go up opportunity you know again you decide your career path and that might be yield to your academics or your intellect someone else pays you for your time basically i did that for quite some time i was a special forces medic for many years of my youth i came from a farming culture where you invest seed or cattle into the next year’s crop i’ve had uh you know real estate play as far as startup culture and kind of a live fork environment in silicon valley so you know when people say they’re in a particular niche i tried different niches for four or five years and and had success but i’m one of these people that likes to rotate through different things that i can force up the equity i can put direct intellect or capital to work i really typically don’t deal that much with intangibles that i can’t affect so like people have made a lot of money inside of stock or instead of shorting if they weren’t some kind of influencer in the space or stockholder level that they can influence the the rest of the collective i really haven’t participated that much i’ve been more about launching of small companies real estate play um and uh kind of a band of brotherhood kind of influence like i said as far as my military experiences so that’s kind of why i’m participating so much in hex and i’ve been uh somewhat influential and uh being act 20 22 kind of first guy to lead kind of others to come their e-commerce companies to the puerto rican environment so that’s kind of where i’m speaking from when it comes to hex and it comes to the entrepreneurial drive jaxa yes i guess i started my journey as a computer systems and network engineer mostly focusing on the the security side of things done that for probably 10 years and realized that it wasn’t much fun working for other people so shifted across into owning my own businesses which i still do primarily in the property development world so i’ve got an active development company that i’m doing projects with so um very much about the investment side of things and generating returns how to effectively utilize capital and things like that through that circle got a an introduction to primarily ethereum was the the big cell for me someone started speaking about ethereum at one of our our property events and very natural for me to coming from a tech background i dove straight into the crypto world and got heavily absorbed and put pretty much full-time effort into understanding it i’ve been through the the bull on the bear of the the last cycle came across hex and from for me it makes sense in terms of an ass a productive asset so that’s why i’m sort of here championing hex and what i see in it thank you wheels um pleasure to meet you again cody uh and uh hi to everybody in the chat just to give a little break down to who i am where i came from um i i actually found out about crypto before i even finished uh college um but i had been intern i had uh i had an intern on the street yet i’ve been on wall street since 2010 uh started out on the buy side at a healthcare hedge fund just trading stocks wherever as long as they were healthcare and at the same time i had found out about bitcoin in 2010 didn’t really think it could last this long because i didn’t really understand the internet as well as i do now um so i was literally growing up in wall street as bitcoin was doing its thing this whole time um and over that time i basically converted myself into an economics and a macroeconomic specialist i’ve been trading futures and fx spot effects the whole time basically and then i ended up finding hex about a year ago about nine months ago at this point and um i’m here to let everybody on wall street know that they need to stop wasting their time trading in and out of things what are you talking about man everybody needs to start shorting heck wait yeah that would be great actually you know if you want to invest into something you can invest into a platform to short hex i think people should try to short it all the way to the ground and make it zero i think that’ll be an awesome opportunity we’d get a run just like we saw in tesla so please go ahead please it actually is one of my concerns about hex and all cryptos here is that there are no natural buyers built in because i can’t short hacks i i let me just disclose up here front really real quick on my crypto stuff i first bought crypto bitcoin in 2013 at 100 bucks a share started or a hundred bucks a a bitcoin and i started taking uh i i even i’ve taken uh bitcoin as payment on the code since 2013. um and look so i i’m a believer in crypto i own ethereum ripple uh bitcoin you know some of the mainstream stuff like most people i think it’s the safest to stick with the big five um especially for those at home i don’t like x i think cax looks like a classic pyramid scheme not necessarily ponzi scene because everybody is admitting up front what hex is so we’re at least honest about it but i’m i am not a believer in hex if i could short hex i would do it i would love to bet against texas yeah so i guess i guess we can just start there because i was just going to ask you know some basic background of your history and investing crypto which kind of already naturally provided there but i guess where where would be your main hang up or point of contention with hex as you know a wall street or a hedge fund guy like where’s your mind going and be like okay this is it this is what really uh throws up the red flag for me okay before you really get into that can you clarify your 100 investment to bitcoin because i don’t know that short markets were available when you were doing 100 purchases of bitcoin and were you on spot were you whole did you have a narrative or your cypherpunk if you can kind of go through your investment thesis in a digital token of value on the internet at 100 bitcoin so going back even 10 or 15 years i like uh cabana mentioned earlier i’ve been i was cnbc and fi had a show on fox business for three years um when it launched and i talked a lot about you know this was the 2008 financial crisis uh prime time when i was doing it and i talked a lot about the need for alternative currencies because fiat i mean you know the standard stuff about fiat currencies are clearly controlled by central banks and especially in 2008 and we still have every emergency measure that they put into place in 2008 still in here you know like every government program never gets ramped down all of that stuff the republican democrat regime i used to get in trouble on fox all the time for talking about the fascist socialist republican democrat regime because you know they both put send us the war endlessly they both bail out banks endlessly they love the central bank trump loved federal reserve you know biden obama bush all love federal reserve i mean so look i i get the concept of competing currencies i have advocated for that forever and in 2013 with cody.com subscriber asked me about bitcoin and i didn’t know and i was like well like every time anybody asks you about financial asset or a stock i go look at it so i went looked at it and you know like everyone else these days and i can that people can clearly see now it was clear to me back then that it could be a bitcoin specifically would be a great store of value um that some competing currencies would hopefully come along and enable fast transactions um and and you know again the reason i like the big five ethereum and bitcoin specifically um is the tens of billions of dollars that hundreds of billions of dollars at this point that have been poured into supporting those two particular ecosystems there’s clear critical mass um in those two which leads me to hex there is no critical mass in hex there is no use case for it there is a hoped for store of value potential here um but the fact that you know you can just pay people in the crypto the interest is being paid in the crypto itself and then like i mean russ initially asked me to look at hex probably a year ago and in disclosure i was as bearish then as i am now and i will be bearish on hex until it goes to zero which i fully just will just interested to you getting the point against uh the warren buffett narrative of a a dumb rock that goes up in value whether it’s silver or gold uh that in my opinion i was a bitcoin person when i first got introduced in 2016-17 to it i thought okay this is contrarian you know if uh jim rogers promotes one particular thing in a different currency in a different nation or you know something that’s a commodity uh you know i looked at those kinds of things as options i like the real estate play and i like the store very narrative of metals uh not even not even miners things like that but when it comes to potentially yield miners oh he froze no because there’s execution risk there’s fraud risk yep i own gold i own um i’ve owned gold for a very long time i own silver i believe in those also but i i would avoid the the miners specifically i always have i i stick with you gold on gold if you wanna own bitcoin on bitcoin i’m short riot marathon and a bunch of the crappy publicly traded bitcoin plays too yeah so so again to go back to that point you know i i like the sound money concepts that were being discussed in 2008-9 after the collapse i liked a lot of the uh andy schechtman or all the miles franklin all the different narratives of people that talked about uh what the treasury is going to be doing and the fed and why we’re basically going to go into this hyperinflation economy of the most recent 10 years so i like the sound money concept and i did like bitcoin when i discovered it which was late in 2016 and still you know if you liked bitcoin at a hundred dollars and you really took a real snapshot of what was available that wasn’t tens of millions or hundreds of millions of uh billions of dollars worth of buying power that wasn’t narrative in the public uh financial space saying that this might be one percent or two percent of your holdings that you should put in bitcoin that wasn’t the story i literally wrote for the wall street journal in 2013 that you should put one percent of your assets into bitcoin that’s great well if you look at your writings in 2013 and then you look at the code of hex you would see almost identical similarity between what bitcoin was and what it is now inside of hex hex specifically is a proof of stake it is specifically locked code and immutable it doesn’t have right now the virality and the brand influence of bitcoin the brand that is received which is a little bit important it is important we’re not talking about that i do not believe that richard hart is the right person to create a mainstream i’ll alleviate cody cody necessarily wasn’t relevant at all whales go ahead oh no i’m sorry i didn’t mean to interrupt you can keep going funny jim i just wanted to just let cody know that that’s not relevant in the space at all gary you’re the one who said that is that look it’s if if the argument is that hex could eventually go mainstream and have the brand awareness that bitcoin does then it is relevant because the only way that this thing gets mainstreamed is for rich and hard and you guys to make this community bigger and bigger and bigger and i’m telling you the minute that wes sent me a video last year of a youtube link to richard he was talking to you know john mcafee another giant scumbag that would short every time any if you ever mention the [ __ ] though i’m short the crypto i mean i would love to sort any crypto john mcafee ever pumped and dumped so why are you along bitcoin then why are you on bitcoin but why are you on bitcoin wait wait wait wait wait wait so my counter my simple counter is you can look at an edison that’s a genius right and he was a great marketer you can look at tesla that was not right but he was a genius also and he talks about alternating current and all the things he did as far as inventions but wait a minute wait a minute wait a minute wait a minute wait a minute i am talking about a polymath and richard is a polymath so let’s just let’s just talk about actually the executable code that is the worst thing you could ever bet on yeah i mean i didn’t like ellison either but i made money off of his products right i get you you have so far i’ve i’ve totally steve jobs and he was an [ __ ] but i liked his products right so you can have the delivery of the product i’m simply saying if if you don’t think that it’s ac you don’t think it’s alternating current you think that bitcoin is the best flavor in the crypto space and you can short it you can do all the things you want to do as far as market uh you can look at centralized exchanges you can look at wash trading you can say is it really on the blockchain and is it is it is it transparent uh i’m simply saying that there are other examples that were [ __ ] that were horrible people that invented products that you use every single day and have adoption curve sure so i’m simply saying if you look at the exactly but i’m telling you you know the original question sort of like what if if you’re gonna it’s probably not a good idea as a mainstream wall street guy anyway right you’re just a you’re a reasonable pragmatic person a pragmatic investor i just want to be clear i’m basically like anti-wall street machine thing even though i’m a hedge fund manager so yeah like but look if you’re going to ask me like my analysis take when i have watched it and so then look three or four weeks ago or a month ago wes gabbana wrote me back and said look uh i want you to take a look at hex again because it’s been my best performing crypto and i was like maybe i’m wrong i don’t even remember hex what and so i went up again and then i was like i i didn’t remember the john mcafee interview or anything and then i watched richard’s interview with the crypto gentlemen and i watched for an hour because i really thought there might be a payoff because cabana promised me that it’s really going to be helpful and insightful and after an hour he’s still just like spewing a bunch of nonsense and talking in generalities and like he gives me the willies i would bet against him 10 days to sunday anything he’s involved in like that’s what i’m saying like he’s not just like not a good representation he’s literally like the worst kind of representative you could have for a crypto over the long term i love it i love the narrative because every market needs a contrarian and you can be that contrarian by delivering developers to put in a short market this is something that we want to have in the first place we would love people that are on the outside of whatever the curve is and say i don’t think the automobiles are going to go very far and i’ve got a big investment in horse and buggy i’m not saying that you’re in an into antique positions you have silver that’s not debased uh we’re talking about something that you think of as a debased currency and i’m saying that we would love someone to be on the opposite side of the hex potential right if it goes to zero and you make a fortune then you make a fortune just like the guy that shorted tesla if you guys can well i’m long faster too so but look there’s that’s a narrative because you can get behind elon not pecan the the industry i’m saying look at the technology i got behind elon and just like i would never get behind richard i made a bet on brilliance steve jobs so what about this because what about this is an alternative if you don’t believe in the founder if you don’t believe in the person that hired the developers to put the code you don’t believe in the marketer that launched in 2019 and coalesced hundreds if not thousands or now 30 40 50 000 people uh what do you think of cabana what do you think of someone you’ve never met before such as me how can you look at the profiles of the people that have had investments in other products and and services i invested in other things in crypto as well there were promise coins and said if you just give us our money we happen to be backed by disney or whatever the corporation was in a us entity and we are the ones that are going to make it happen that’s still a promise point i like the immutability of bitcoin i still like the network of ethereum as far as this development and 4000 all the narrative that they have as far as their pitch of value i do think that they’re going to have a challenge when they go from proof of work to proof of stake and i’m looking at other people that i deal with on a day-to-day basis that are cross investors they’ve been they’ve built successful companies for 20 or 30 years before they ever encountered crypto and i see similarity in the investment profile of the investor of time and research you’re talking about you’re talking about crypto investors as a generality not hex well you’re talking about a specific of just richard and you don’t like the smack talk that he puts as a miami guy hex itself okay so look the price again the bigger text is that the only function you’ve got is hoping that other people will join this thing into this thing while you keep holding it and hang on hang on and how is that different how is that any different than the bitcoin narrative nobody is no is going to expand than that this is what would make a market if i could short hacks but what i’m saying is there never will be a use case scenario i will never transact in a hex it will never happen i’m comfortable saying that i’ll leave my hat on times square at high noon in 2025 this time this date if i’ve ever seen anybody transact anything on hex in the next five years yeah yeah and tell me how many things you’ve bought with your bitcoin well i’ve received no no how many things have you bought with your bitcoin holdings not directly not converted into fiat how many houses have you bought how many cars have you bought how much other stock have you converted from your bitcoin that’s a 10 year or 11 year old product never have and i’ve never had a plan that’s a narrative that’s a red herring that you throw out and say i’m not going to be able to buy my coffee with hats it’s the same narrative but i’m the reason i bring that up is because you guys pitched that on the hex.com and all the other when you google that scam where you put your heart there is repeated articles all written by the same person there’s websites that literally like hex scam.com and it’s literally written by hex bulls do you know that some of those are actually buying a call the hexagons are a bunch of cabal you guys are drugs scare me i’m actually going to be scared i don’t know why i put my name on this you guys are coming after me now i know no no i mean i i imagine that you bought oil and you have it on the cme i imagine that and you know that that’s opec what are you talking about i would never just people short they’re short commodities i would short oil yes i would like to short oil companies but let me jump in here let me let me jump in here let me just go guys cody the whales come on man let’s talk for a little bit let’s let’s talk for a little let’s talk about value right i think we’ve lost katie again we’re about to go no he’s no no we know who you are you’re going to be the guy that builds the platform to short the product that we like oh we like it we want to show that we want someone to build that platform yeah i need somebody to build that platform for me because i i don’t know hey hey how about this i will i will put 50 grand into your pocket to build a platform for shorting how’s that all right you got to do all right i’ll get that so you’re the leader you’re the leader and you’re the influence person that says i’m going to build a platform to short hacks i’ll throw 50 grand at you today he might change his mind after i’m done with him let’s see let’s see let’s see all right mr williams all right so let’s talk let’s talk about value you like to hold stocks for the long term and kudos to you for all i looked you up and kudos to you for all the report recorded trades and and reported trades that you have on the books right every step by the way cabana cabanas could verify everything that you read about me it’s a true story that’s fine yeah yeah and that’s what i’m saying kudos because it it takes it takes the right frame of mind to to buy and just hold that right and not sell it at a hundred dollars the first time it hit a hundred dollars right you held it after the stock then you’re still holding it are you not i am right so so you understand the value in holding something long term when there is a value play to be had there right so let’s talk about value let’s talk about value now you think you own crypto but you actually do not and i’ll explain why that’s the case crypto is meant to be a very specific thing right and bitcoin is not it ethereum isn’t it either right and the funny thing is is that hex is actually the crypto by definition now how is that how is that because because because everybody hates it everybody calls it a scam everybody has nothing but negative things to say and you’re just jumping on that side of the fence now because you haven’t heard you you actually don’t even know what crypto is clearly because hold on hold on cody hold on we’ve heard you spill your guts for at least 20 minutes our turn our turn because you have a sensible person on the other side of this that’s been on your side for at least 10 years and let me tell you something you were there at the right time and that’s all you got buddy and that’s perfectly okay because timing is everything period and we know this has grown men so let’s not act like anything is different than that right so now let’s talk about time because time is everything you have the 10 000 day fund which is not easy you’re talking about holding something for 30 years you’re gonna sit here and tell me every stock you buy is gonna be around for the next 30 years in 2021 highly doubt that highly doubt that and we all know survivorship bias in the equity markets very well and now let’s talk about a cabal a cabal is every ipo that wall street issues why because when you read the damn prospectus or any 10k or tank you what the hell does it say the par value for that stock is what point zero zero zero zero zero zero one right you know it and i’ve shown it everybody watching this stream here knows that to be a fact not a fiction so let’s talk about value once again when you’re buying hex you’re buying hex most of the time not to just hold it because anybody can buy anything and hold it but the whole idea here is to buy something to make money right and now when we think about money we think about something that doesn’t actually lose value but we don’t know that to be the case because that’s not what we’ve experienced in our lifetimes so in reality unless you study money you don’t actually know what the hell it is as a human being you don’t know because the only thing you do know is fiat which is constantly being devalued by central banks and the banking system based on how it functions because everything is hypothecated and re-hypothecated ad nauseam right and these are all things you clearly know otherwise you wouldn’t be doing what you’re doing which is not holding cash so clearly you understand at least that aspect of the game all fine and well now what’s the next step well the next step is all right i’ve been holding these stocks forever shit’s looking great i’m looking like the [ __ ] king because can’t nobody tell me a thing now what is next that’s the actual question because there isn’t [ __ ] left on the legacy side of wall or finance there isn’t look at what where do you think all these spacks are coming from you think that’s coming from innovation don’t think so double two short corrections but that’s gonna crash in this bag cody cody you’re but this see you’re right until you bring it up so you bring hacks i gotta clarify i’ll let you finish with you’re getting that but you i gotta clarify one thing specifically that the name of the hedge fund is 10 000 days but it’s not because i think that everything i buy will be held for ten thousand days but as cabana can tell you what i talk about all the time is that if you are day trading or if you’re investing in cryptos and you it’s just started right now if you have a plan if you have a strategy that is repeatable for 10 000 days if you can build wealth for 30 years then you have something if you’re not doing it for 10 or 20 or 30 years then all you’re doing is gambling and like you mentioned earlier being lucky with timing 30 years builds wealth anything else is too s it is luck and that’s why i call it the 10 000 days fund is because not because i think everything i buy will be held for ten thousand dollars right right but because what my strategies are repeatable for 30 years and guess what it’s your lucky day sir because here around here at least in my area the average holding time is 15 years okay and during this whole duration what’s happening is that i’m earning interest on a daily basis that’s what’s happening now the question is well wait hold on where does the interest come from well let me tell you because this isn’t big connect this isn’t a ponzi it’s not even a pyramid scheme because guess what if you don’t buy doesn’t mean [ __ ] to me i still get paid every single day it doesn’t actually matter whether you buy or anybody else because i singularly interact with the contract because again this is actually cryptocurrency there is no middleman there is no admin keys there is no other third party to intervene with what i am doing with this system here this is just literally something on that name no well sure sure when you buy a cd your interest is paid in dollars and like we mentioned earlier dollars can be transacted elsewhere so it is a fungible asset when you get paid in a fiat currency called the us dollar correct the hex is there beyond this cd thing that dream scheme whatever you want to call it you guys can call it a plan beyond that is there a is there hex that is being used in any other way or is the only hex being purchased being when you purchase it you are agreeing that you’re going to hold it for at least a year three years no that’s not the way it works that’s not the way it works it’s not the way it works so when you’re buying hex it’s like buying anything else right you’re buying it and it’s yours that’s it now you have the optionality to stake it which in essence converts the hacks that you just purchased into something else called the t-share now let me slow down because this is where it gets funky a t-shirt is similar to a t-bond or a t note but the reality is is that you only you determine how long you’re gonna actually lock up the funds and receive interest there’s no set time that you have to do it the duration goes from one day all the way out to 5 55 days which is approximately 15.2 years so this is the unique aspect of this coin it gives you the optionality to actually earn interest you don’t have to you can get diluted because that’s what’s happening when you don’t actually stake the coin because every a lot of people well all right so 10 percent almost the stake go ahead so let me ask you then the bold case then has to be premised on are we talking store of value or are we talking yes sir transaction let’s let’s we’re also we’re talking one or the other but you’re talking about the inflation in a fiat system of the fed you are become the fed if you’re a stakeholder don’t i’m just saying i’m just saying any kind of system that you have inflation who receives the inflation you love bitcoin but bitcoin inflation is awarded to miners and it’s different it’s similar in construction except you as a staker are receiving that inflation so every bitcoin you’ve ever owned has gone through the hands of mine you guys betting on transaction eventually are you betting on it as a store of value store value store value the same as your narrative for bitcoin we never need to do a transaction in hex you just need bitcoin like believers to huddle this thing forever the same as the 25 million dollar penthouse believers that buy new york the same thing as any other commodity believer in silver and gold the same as the apple holder that’s the same as the short of tesla if you have a score of value narratives you can hold it why is it that is it because this is the unique and only see the original cd version of crypto is that why we’re in hexa not a different one why it’s because this is it’s not richard that you’re betting on no it’s because this is the only crypto that actually exists like once you learn what a cryptocurrency is supposed to be like literally read the first bitcoin white paper that’s hex except that hex also pays interest and hex is built on litecoin or whatever i mean it’s not even code i mean it’s not it is its own code hold on hold on it is its own code it’s its own code and that code is tweaked a little bit they changed some words no the whole code has been around cody you’re saying all this but you haven’t taken the time to actually read anything about hex other than watch a video which is probably not the best representation given how analytical you probably are i typed in the word red flag of why i would love to short this yeah because every website every link that came up on google when i type in hex scam was built by someone like you guys just as a comparison look at the what wars look at the thing between tesla and edison look at the fact that it’s going to be so dangerous where you have ac in your house that your kid’s going to get electrocuted just like this elephant you can see all kinds of narrative that was in the public about this should be better than that because some are stakeholders and they are in the stakeholders of bitcoin ethereum i have a better alt it’s all the stuff that is anti as far as influencer in the space that creates this content that you are reading but you haven’t taken the time to look at the actual code or have a developer and say i’m gonna look at the code every single thing i found about hex being a scam is written by someone who’s trying to convince me that it is not a scam i couldn’t find one article that was about hex actually being a scam you guys that’s that’s amazing to the point that it’s actually completely swamped all of the truth yeah you can’t find real articles about how this is a scam yeah and so you can also see through identity this person has fired me right this is the lawsuit because someone has harmed me this is i i got ripped off by richard i got ripped off by hex you don’t find those because they’re not there because it hasn’t happened yet because x is parabolic like this and when it crashes then you’ll have that okay have you again looked at the bitcoin chart in comparison to hex at this at its age i couldn’t care less and every time i do homework on hex i’m like holy crap i wish i could sort this thing because it’s a scam did you look at bitcoin before 2013 and then decide in 2003 before 2013. okay so so yeah so you could have seen four years of history first time someone told me about bitcoin i went and did homework on it and bought it the next day that’s exactly the opposite of what’s happening with hex you’re like you’re buying your ritalin uh and you’re uh adderall on silk road in order for your use case of bitcoin in 2013 i thought we already established i had never actually spent anything on bitcoin okay so let’s just so let’s just take it down a second so cody what what do you think are any of the weaknesses of bitcoin can we approach it from that angle is there something that you think could be its downfall or something the the time of transaction thing is a problem um but look at bitcoin won bitcoin and ethereum have won if they’re i haven’t been looking at the charts i don’t think the theory it doesn’t matter what the near-term charts say it’s not sorry oh the long-term charts gary gary let him get let’s go back to okay why what what is bitcoin it has one it has critical mass ethereum probably has critical mass there will be other cryptos that win i own helium there’s another one it’s not a scam there is no question for you hex is not it hang on i don’t want to go off this point too soon so what are the things that could that could be bitcoin’s undoing or what is it what is is it headwind at the moment i think the only thing that could undo bitcoin is another crypto becoming somehow bigger and hitting critical mass and replacing displacing bitcoin but i don’t know that there’s another bare case for it yep so all the the narrative about like we’re seeing all the narrative about proof of waste with all the the mining that’s not a concern it’s all just it’s just there’s that’s just buzzy stuff that people who’ve never bought crypto can be alts pretend that they’re like oh turn the planet in that’s why now they got an excuse not to own it but no i’m not worried about energy proof of stake proof of mine i have proof of whatever it can prove at all so when you so when you got into bitcoin so when you got into bitcoin what did the the people around it look like what did the network effect look like then i mean it’s it was would have been very immature at that point in time sure yeah it wasn’t there wasn’t much network effect i mean i look i was so early on bitcoin in 2015 i i gave you know like i lost interest i quit writing about it i quit thinking about it i just held it i had all my bitcoins and i was like never even thought about it i lost some of my bitcoins mom gox so there’s a lot of people that were in bitcoin before 2015. maybe listen to their opinion people in bitcoin in 2008 when it was launched yeah richard richards early in that same as roger beer these are similar people there’s richard hey welcome i heard a very a very angry hedge fund manager in his car man i hope you’re not driving bro you’re gonna road rage somebody man no i’m actually i’m here to answer all of these hard questions doctor i had my cataracts removed i gotta go in there in 15 minutes well we got 15 minutes to talk good stuff man hit me up i found it a hundred billion dollar crypto now is your chance for now good luck with that and actually i will give you a serious profit i mean that’s a little bit the the at this moment this cryptos a hundred billion dollars and you have tens of billions of dollars of net worth and i assume you are not that’s fake as you can while you can it’s a fake number you can’t sell that much i can tell you i’m assuming you can sell and you are selling as much as you can while you can nope no actually i’m more likely to be a buyer than a seller because i’ve been rich for like 20 years and retired for 20 years how much hecks have you converted into dollars no one knows anything about my finances because i’m encrypted thank you for privacy and sovereignty yeah have have you ever the irs let’s not ask in dollar amounts let’s ask in percentage amounts let me put it to this way i just raised 26 million dollars for charity over the last five days to do medical research to save your life so while you demonize me i try to save your life let me know when you raise 26 million dollars for medical research i’m not going to play this game all right good you are a good person go raise lots of money and save my life that’s great yeah i’m a self-help author that has two free self-help books i know i’ve i have free i’ve seen yourself help videos richard good i’m awesome like you should be like me like i am awesome it’s true more people should be like me yeah so so listen the government prints money out of thin air it’s fake [ __ ] the only thing that really matters is goods and services everything else is accounting so we live in a world where everything is fake and everything is a bubble rolexes of which i have a million dollars of them here are two times retail houses are two times retail when you measure things and their value in other things we’re stagnating gdp isn’t actually going up production isn’t actually going up but prices are going up because they’re printing money out of them you can talk matter economics to me till the council that’s not going to make me believe that your hex is anything but a pyramid game i’m sure you believe that but you’ve been left behind by the future your old thinking your old style thinking which may have served you in the past is ethereum old now a little bit yeah yes actually okay so i’m forking ethereum i have created a better no i do i would run from it everybody i’m sure you would but i’m richer than you and i’ve been richer than you for decades and everyone following me yeah i’m pretty sure about that yeah i’ve been retired for 20 [ __ ] years you’re still working okay that’s the difference between us we don’t need to get into a dick measuring contest okay okay let’s just talk about it i think you just did get into addiction you’re going to lose that contest bro you’re going to lose that contest i think you got into it though i’m speaking from a castle and you’re speaking from a toyota measure these to make you feel like a man that your head can keep going up i don’t even know what you’re doing here why are you talking i have an 8k camera and you haven’t i i’m trying to talk about the facts i just want to talk about you’re talking about that can fiats it has nothing to do with your hack sam no it does because the price chart is a comparison between the inflated fiat and whatever else you’re measuring and as long as they’re printing fiat out of thin air everything is going to go up into the right and it doesn’t matter what it is so if i had this shittiest thing in the entire universe and it just didn’t inflate because the dollar is inflating my chart would go up into the [ __ ] right so having a chart that goes up and to the right is the default standard for any [ __ ] good or services which is why education health care roll x’s all gotten right no no do you think the fbg fighter is going to crash the stacks how many decades have you thought that how many decades have you thought that the s p 500 was going to crash how long have you been wrong tell me what do you think about what maybe two weeks i’ve been saying it two weeks i turned bearish maybe a month okay well that’s not very long that’s that’s not very long is it i’ve been i’ve been it’s not very applicable facebook bitcoin ethereum for years let’s talk about the s p 500 when it all goes wrong and it all goes terrible and you have the global financial crisis the gfc the s p 500 only dropped 50 percent so the statistical probability of you enduring the worst possible thing of a 50 drawdown more than gets cancelled out by the most bullish up and to the right chart imaginable even if you thought that everything was going to crash bayesian logic would still indicate that you should still belong anyway and just hold through it because everyone that has ever been on the stock market crashing has been wrong because they print money to get out of it that is where they just create money and richard which is great but i will say that if you look back in the 1950s you had 10 20 years of stagnating stock market prices and we will see that again in our lifetime there’s no way why not so tomorrow they’re literally doing helicopter money but it doesn’t mean that stocks they’re mailing people everything in the planet and hex goes straight up forever they don’t everything is at all time highs everything that is at all time highs this is obvious but look okay let’s not talk about minecraft that’s why you shouldn’t be buying everything that’s exactly my point zero apple at 20 cents google it 35 dollars facebook at 20 bucks that’s when i like you’re gonna get left i don’t like them you’re gonna get left behind like everyone that’s ever tried to call the top it is statistically improbable that you called the top it is much more likely continuation because they print the money out of thin air bro if the charge is in gold i will gladly call top in hex but i’m not calling the top in the economy or the stock order you know how many times taxes doubled in a year and a half probably could do the math i can do the math and go wow at this very moment you guys have really made some money measured in hexes sure yeah and then i’ve seen a lot of mclarens ferraris lamborghinis may box houses trailers rolexes until you disclose the amount of hexes that you’re turning into dollars people like me are going to continue to call it out it is a pyramid you can see it every day on the turn into your doll i got this covered i don’t need my my dude’s help listen do you do you think okay so let’s let’s take your logic i’m going to go into your your world view okay does jeff bezos you see you’re mad dude just skip the mad let’s start from scratch all right you came on here oh my lord listen i grew up in a construction hey i grew up on a construction site when i drop f-bombs it’s normal bro i do that with my friends okay let’s be friends i’m not your friend that’s fine i don’t want to let’s forget we exist and just talk about ideas great men talk about ideas let’s just jeff bezos my head my world view like you said does jeff bezos sell stock and he displaces i can actually look it up i know how much he sells he sells a billion dollars every year to fund his blue origin everything and the blockchain is public and instant so you can see if the origin address which has 50 of supply has ever sold and i can tell you for a [ __ ] fact that the origin address has never publicly sold a goddamn coin and had specific way of avoiding you actually saying you have not sold any if you said i have not sold any i would actually give you some credit here but you are saying some specific ass address did not sell it that’s a very good way of getting so you’re telling me that something so if the founder doesn’t sell a ponzi it’s not any pounds anymore that doesn’t matter i’m just asking you i’m asking you for some sort of idea how many how much money how much wealth have what percentage of texas you’re turning into dollars when other people are buying those hexes from you so if the original mr ponzi if the original mr ponzi of which the term ponzi came from didn’t personally sell okay oh let me tell you what the difference is a pyramid scheme requires multiple levels where one level pays another level and we do not even have a referral program amazon has a referral program tesla has a referral program you did verbal life has a referral scale website explained me that the referral program was just well not yeah and it lasted for one year and then it stopped and we don’t have one we haven’t had one for a year yeah dot com website and make it clear that you no longer have that sir listen we have testimonial videos for people that are very happy the only people in the whole world that are unhappy are people that have never actually participated of which you are one of them i know it is hard to believe innovation has gone straight up for now they will not be happy when it collapses that’s how possible schemes stock market bubbles everything works like that when it goes up it’s a great time when it crashes these guys will be really mad at you so you’re saying the s p 500 is a ponzi though no i did not say that but we all know wall street has you just said you just said that it’s all bubbles which i agree with your degree sure i agree with that to a degree but listen it’s probability okay hex has not done what other things that you’re talking about have done so we’ve seen lots of ponzi’s bit connect was a ponzi cloud token was a ponzi plus token was a ponzi we have seen lots of crypto ponzi’s and what they do is they go up vertical then they go to zero and then they stay flatlined and they die forever hex has dipped 70 percent six or seven times it dipped 65 percent two weeks ago and it keeps getting back up and making new all-time highs this a bubble that keeps re-inflating over and over and over again is not actually a bubble amazon dropped 95 back in the year 2000. it is now 50 of all commerce on the internet price volatility and humans estimation of what something is worth being higher and then being lower does not have any effect whatsoever on the value of the thing it generates real cash it actually has functionality oh and it’s really is it profitable is the amazon profits no it’s not extremely profitable they show a [ __ ] loss every year i want to see when they turn profitable bro because i want to get updated here it’s very often several times i’m glad they’re profitable now it only took them 20 years 20 years okay anyway tax will never be profitable it is not a company to draw to parallel to amazon dropping 95 percent in the year 2000 is silly and no i have to go in in three minutes i will give you guys the last word my final word will be i am proud to say that i will warn everybody to run for hex to please avoid it it will work out terribly for anybody who put their money into it and i’m happy do you like that do you like you specifically you should do good video richard you’re already my i thought you could get into my world so you must know if i owned bitcoin well you said good things about bitcoin ethereum you know bitcoin and ethereum both destroy the environment right they do proof of work which is proof of waste which hurts the environment but you support that right and i have the solution for it but you don’t like that i just i hope everybody watching in five years in five years everyone listening to me is going to have made higher returns than you and i want you to remember this day for the rest of your life everyone that you just said is going to get wrecked and something that’s going to go to zero is going to outperform your lifetime portfolio gains so you think you’re smart and everyone dumber than you is going to outperform you and i want you to remember today because i told it to you the more successful bigger dick guy told you good luck for having me good luck to everybody good luck with you all the best see you and your portfolio goes to two percent brother ciao where do you find these people this is so fun oh my god this is so fun to watch i’m sorry i’m sorry i stepped in there i was like oh my god this is so amazing listen i like it when guys that make single digit returns or double digit returns try and [ __ ] talk people that make 358 000 in a year and a half as though they know what’s going on because though he he knows what’s up no no in fact the people that made 360 360 000 know better before staking you just can’t understand it bitcoin went up 6.5 million acts and he’s like no everything else has to be ponzi no bitcoin went up 6.5 million x ethereum went up 14 000 x and hex is only up 4 000 x this is normal and standard for our industry i’m sorry it makes you angry wrecked pleb guy my bad sorry i’ve been retired 20 years you’re talking out of a toyota what the [ __ ] do you want me to tell you bro i’m sorry like maybe you should learn from me i’m the free self-help book author [ __ ] philanthropist who just raised 26 million dollars for charity you’re the rec club like what can i say it’s crazy i’m surprised all of the research the research stopped at google that’s yeah that’s where it’s hard to deal with that like someone just if all they do is a google search and that’s as far as they go hey here’s what i understand everyone that’s in legacy thinks bitcoin is a scam fine okay but if you think bitcoin’s not a scam then you also have to think hex is not a scam because hex is better than bitcoin it’s more secure it’s more resistant to inflation bugs it has lower inflation that bitcoin had in the first 10 years of existence when it went up to 20 000 it has less negative externalities it is and it was given for free to bitcoin holders as well so if a legacy guy thinks that cryptocurrency is all a scam fine i get that but if a legacy guy thinks that bitcoin and ethereum are okay but hex is not he literally is incongruent and inconsistent in his own mind it doesn’t make any sense you’re like and then other [ __ ] like yes bro i obviously have more money than you i’m sorry it is [ __ ] measurable like sorry for you dude like and why does that matter like just you know who else has more money than all of us warren buffett but he doesn’t get crypto either so even appeal to who has most money doesn’t mean that you’re right like it’s just so silly so while i’m here do you have any uh questions you want to ask me since i just wasted my time this guy is incapable of having a conversation he’s just like it’s a scam it’s a scam you’re like yeah we’ve heard this for two years man and well it’s seven it’s interesting six times like what when people like or people that accuse me of selling you’re like yeah dude that’s what’s up why am i not buying i’ve been retired 20 years like what it doesn’t make any sense it’s interesting that someone that bought into bitcoin in 2013 i think he had said uh you know google existed in 2013 what was the narrative for that product why did you make the investment decision to say a hundred dollars per unit is worthwhile when the use case in 2013 and the brand and the influence and the hundreds of billions of dollars supposedly 2013 was a bubble it went down to 266. in 2013 it was at 1300 and it went down to 266. it dropped 85 percent so a lot of these guys buy tops like elon musk got the top uh this guy bought the top i think and then uh who else bought the top michael saylor about the top they think they’re smarter than the market you’re like no no you you don’t get in last oh you got it absolutely nobody was later than you i think the main problem was he couldn’t see another store of value taking over bitcoin like it could could never be that yeah everything has outperformed bitcoin every piece of garbage scam has outperformed bitcoin every the only top like market cap currency that hasn’t outperformed back home is eos everything else murdered it it’s obvious on the chart uh you know what let’s go look up the chart one moment i think that was the big big thing uh bitcoin’s the incumbent it’s not going to get unseated i don’t think the store of value as a narrative was an issue it’s just rolex’s if you buy the right ones are up 2x and three [ __ ] acts like yeah rolex as a matter of fact year over year has outperformed bitcoin so like what the [ __ ] like this is not a hard thing to do like what isn’t outperforming bitcoin all right let’s look up a chart real quick here and see how well bitcoin has done versus everything else i think uh i think the sadder thing is i’m sorry go ahead good now you go ahead man i was just gonna say i think the sadder thing is that the gentleman just doesn’t even know what a crypto is or what it’s supposed to be or anything at all at all he just i just just if you step to richard heart want to get a dick and measuring contest you’re gonna lose just a bad [ __ ] move like better production value more productive helps charities more it’s pretty like just don’t don’t get into dick measuring contest with me like so dumb okay well the dogecoin ten thousand percent theta five thousand percent so i’m measuring from like the beginning of 2020 until like two days ago dogecoin is up ten thousand percent hex is up i have to scroll a lot two hundred and seven thousand percent scrolling back down this takes a while actually uh cardano thirty six hundred percent solana three thousand percent binance two thousand percent ethereum fourteen hundred percent chain link eight hundred percent unit swap four hundred percent stellar four hundred percent polka dot three seventy seven hey we’re finally to bitcoin guys three hundred percent well i don’t know man cadarno is up 3 600 that’s 10x bitcoin hex is up 500 x bitcoin when when you have other cryptocurrencies that are outperforming 10 to 500 times bitcoin why are you talking about bitcoin is bitcoin less volatile nope dropped 65 percent nikova dip it just doesn’t go up much drops the same as everything else doesn’t go up much why is everyone even talking about it why do you care about a crypto that underperforms by 10x or 500x who cares so dumb the only thing on this chart that bitcoin outperformed was xrp and eos is so crappy that it’s even under xp it’s off the chart or or i removed it like one of the two i have to scroll back up yeah um eos is even on here now i replace it with other stuff so the dude just doesn’t know what he’s talking about man it’s obvious you just look at the chart everything’s murdering bitcoin hex just happens to be murdering it harder than everything else but everything else is murdering it too are you in this to make money are you in this to put laser eyes in your profile picture you’re in it to make money okay we’ll go look at the chart the chart says everything’s murdering bitcoin and has been for a long time i guess if you’re going to have a portfolio and you’re going to have some you know risk on risk off kind of products inside of your portfolio i can see when people say i want to have the blue chip and i’m going to buy coca-cola even though the performance is crap or whatever the cro you know the brand you know i’m buying bitcoin is not a blue chip though maybe coca-cola doesn’t dip 65 in two weeks bitcoin does bitcoin dips 85 every four years show me the blue chip bitcoin drops 85 every four years ethereum and dogecoin dropped 95 so that’s what you get the extra 10 percent in your blue chip but then you miss out on a 400 x gains the [ __ ] out of here it doesn’t make any sense ethereum outperformed bitcoin 3x from the kova dip till today 3x you could have bought three times as much bitcoin if you bought ethereum instead obviously we’re talking about that in the green room before and the reason why i thought he might have had bitcoin in his portfolio was just that that little extra something that boosts your overall portfolio up because it outperforms and what people fail to say even if you just do that same thing in terms of the crypto space you’ve got your crypto holdings and you diversify a little bit in something new like hex it would rot how many things in crypto are really actually diversifiable yeah bitcoin dumps 99 of everything else dumps and there’s very few actually decorated things yep usdc is tax decorated decorrelated but not much else really not much else like i’m talking about actually think of anything else that doesn’t dump on bitcoin dumps except tax it’s almost his belief system is because it’s on centralized exchanges whether they wash trade or not because i can put it on the cme and it’s it’s paper bitcoin not real bitcoin because it’s not really a spot market and it does uh you know it doesn’t like you you’ve talked before is the best opportunity is when it’s the most centralized when it’s pre-viral when people don’t know the brand they don’t you know understand the concept and then he grew into it i don’t know he really made an investment at 100 in 2013 without doing research and his research had to be had to be against bitcoin back then he he says he bought bitcoin at 100. that’s what he says let’s go check the chart i mean look i remember watching when the first government like meeting in the house of representatives or senate was about bitcoin and people were wondering whether they’re gonna make it illegal or not and if i remember correctly the price was like 188. so i would be real surprised if this guy bought before then but whatever whatever i just listen a lot of people bought early how many of them actually held right right and then now everything else is beating your ass so cool you bought something early it went up a lot and now everything’s killing you it’s like buying myspace stock yeah it went up cool but are you gonna switch now that the wrestler is switching are you gonna hold it to zero like a dumb thumb it’s understanding bitcoin is going to zero but i also knew it’s interesting like you already said is you can get into something early but if you jump in out at 2x 5x 10x and you think you’re a god because you’re 10 times your money and then everything else goes 6 million x if you’re old if you’re holding bitcoin right now the richest guy in the world already buy it are you waiting for the next richest guy in the world to buy everybody already bought it it’s time to flush out everybody and let them lock in their losses and let them sell so that we can go back up this idea that like we’re down less than half price for three months now does that sound like a parabola to you or does that sound like the doom because in a parabola you make higher highs in shorter time frames over and over and over again and then when you fall out of the parabola you have doom and the doom just keeps happening over and over again relief bounce doom relief bounce doom and then that keeps happening until everyone’s finally sold the bottom so the like i don’t i don’t know how to help people that don’t listen i know more about this industry than he does it sounds like i know more about macronomics macro economics than he does as well so i just just a very angry guy that maybe has a job investing other people’s money and then thinks he’s good at something it’s weird i don’t know is this guy a billionaire or some [ __ ] what’s this guy’s name cody willard in your friendship uh cabana your ten year long relationship it’s like 15 to 20. no no he he’s a good sport and he gets pitched crap all the time so whatever head fund manager he’s an ex hedge fund manager uh it should be why he quit should be like let me get you hedge fund manager warns against bitcoin in 2018. this is some [ __ ] bitcoin so let me get this right this [ __ ] [ __ ] is warning against bitcoin in 2018 but says he bought it in 2013. his current fund’s in chat there i don’t know bro this sounds [ __ ] fishy to me brother is this a different cody [ __ ] willard let me look this up here that’s funny cody willard conference 45 year old hedge fund manager is he 45 this guy kind of looks like the same guy i think he’s the same guy his link is in the private chat richard for his fund for what it’s worth he just uh emailed me from his appointment loved having richard show up thanks good time you guys didn’t already put him on tilt maybe we would have had a good talk you might have i’m sorry we started on tilt i’m sorry i’m sorry no but i mean building bridges i think he was on tilt before we started i offered 50 grand to support his development of a short platform you know you know i [ __ ] pray he can short i would you know he said he’d take me up on it you know if he would i just pray please let this cody guy short hex please pretty please oh i can’t wait let’s go pulse chain and uh get that going okay i’ll take anybody i’ll take anybody it doesn’t even need to be said as long as he’s willing to be the influencer that’s leading the charge of shorting hex to the floor then uh i’ll funny murder it kill it yeah this is the same guy this is the same guy so someone tell me how a guy is telling audiences that bitcoin is doomed in 2018 but bought in 2013 and still acts like he’s still holding what did he just rebuy in 2019 or something seems shady dude i don’t get it i mean i do i do get his alerts because i’ve followed him from for years and he he actually didn’t exactly call the top when you did richard but i mean he he was bearish at the 20k top uh you know the last time in bitcoin so i i i do give him props on that i know he he’s been in bitcoin a long time because i also know he lost a bunch of coins with mount gox cool that part’s legit um what i thought was i don’t mind it look bitcoin has gone up a lot i get that but like that was then yeah this is now i agree bitcoin isn’t going up like it used to it’s not yeah like when we broke the we broke the old all-time high of 20k and we only got a 3x that’s it we got a 3x that’s it yeah this is what an s-curve looks like it’s too heavy now it’s too hard to make it go up man so you know you get elongated cycles slightly and you get less upward movement that’s why on the log chart it’s like falling over i don’t know i just what bothers me is it doesn’t sound like he disagreed with anything i said specifically from the statements i made he’s just so angry that like correct he doesn’t notice that we’re agreeing on [ __ ] you’re like but dude this will come this whole conversation started um pretty much uh before the pulse chain sacrifice because i sent him excuse me i sent him on that i was like hey man i really i really think you should check this out i sent him a note on hex pre-launch and of course i always keep that in my pocket and uh he didn’t he didn’t uh bite on that so he could have been anything you could have bought anything in the bull market and made a [ __ ] killing hex would have overkilled everything but you could have bought anything else and still murdered his portfolio of whatever other possible thing he could have owned you could have owned almost any cryptocurrency in the bull run and murdered whatever else he bought yeah and his first response to me um when he started looking back at hex because it was part of that thread and i mentioned hex and i was like hey you might want to take another look at hex he’s like okay and his literal email to me was holy [ __ ] the chart and that’s good it was just yeah it was just like okay his pushback is the genius the polymath the person that knows more about the industry than he’s involved with and yet the personality right so you have the people that are eccentric tesla or whomever that still brings up a product that people are using a hundred years later uh you have these people that develop things that the world adopts regardless if you think they’re an [ __ ] or not i met steve jobs he was a prick but he was still built products and people wanted to buy i am not an [ __ ] if we agree i am a very nice person we agree with things i know you’re a lovable cuddle bear but come on but if you disagree then less less nice i guess i mean i just any legacy guy that a


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Richard Heart & Hedge Fund Manager Cody Willard LIVE! What Does Cody Think of HEX Crypto?!
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