HEXTECH RUGPULL!

in LeoFinance6 months ago

Hextech_Revolver.png

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Yoink!

Alright so I probably should have addressed this yesterday in order to stay on top of things, but the timing of it all is truly crazy. I'm actually sick right now (potentially COVID) and my brain has been turned into absolute mush. I should be resting more... my girlfriend tells me sitting at my desk is not resting! Can you believe that?!?

In any case.

Yeah we got some drama on our hands here.

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So obviously this is a little unprofessional.

Would be nice to not campaign in this manner.
But also it is understandable.

But too be fair the @hextech node and the three people running it are anything but professional. In fact Rishi might be the most professional one of all, so perhaps it's a somewhat ironic situation to be in.

Taking my ball and going home!

So the fallout from this situation was that Rishi started a near 100% powerdown on @hextech and set the vesting routes 40/40/20, with 20% going to himself to buy us out of the server hardware. He did this without any kind of discussion (because ragequit), but I'm told the math checks out. I'm not sure if it does considering that's only $877, but I'm also not going to contest it. The fact that I don't know the value of our own node ($1300?) is telling enough.

At the same time the value of a Hive node is a lot more than just the base cost of the hardware. Setting one up is a non-trivial task, as I am learning the hard way now. @hextech will probably be disabled for at least two weeks while I try to figure this stuff out, which is another loss of at least $200 just from missing out on two weeks of block rewards.

How did this happen?

Ah well I could give a more in-depth explanation of this conflict, but I'm treading dangerously close to escalating this situation for no reason whatsoever. Rishi and I had a civil chat in DMs and we are labeling this issue "creative differences". He gave me some advice as to how to keep the node running. The conversation was cordial.

If I'm being honest this is potentially the best outcome.

Rishi is out, Sn0n is out, @hextech is mine. You know I've actually been trying to get back into the coding game and this is kind of the perfect kick in the ass for that. No, I do not have a ton of experience with the technicalities of Hive, but I have a little. The difference between me and a lot of the other people here is that other devs and infrastructure providers have corporate jobs; Maybe even a wife and kids. I don't have any of those types of responsibilities or commitments. I can dedicate quite a bit of time to this project, and I plan on doing just that.

privex

Thus far I've rented a very cheap Hive-in-a-box privex node to try and keep @hextech going, but I was a bit floored when I realized it's going to take 2 weeks to sync even with an NVMe drive. Eek! I still haven't even figured out how to start syncing, so that timer hasn't even started yet. Linux always has a way of messing with me, and like I said being sick is not helping my cause.

@disregardfiat
@mrtats
@gtg
@gokurage
@engrave
@acidyo
@actifit
@shmoogleosukami
@aliento
@deathwing
@smooth
@nuthman
@summertooth
@mytechtrail
@pizza.witness
@dalz
@crazyphantombr

Here's a list of accounts that have removed votes from @hextech thus far.

Watching the hextech rank bleed from rank #31 was surprisingly more alarming than I thought it would be.

I would humbly ask that you reconsider and vote for both Rishi and me if you have an extra vote, but also obviously it doesn't matter much in the immediate short term because hextech will surely be disabled for at least 2 weeks going forward. Also because it's a bare minimum privex node and I don't have much experience running my own witness it would make sense for hextech to continue bleeding on the rank-list. But if you'd like to boost my morale, go ahead and throw hextech a vote and I will continue on with the journey with my head held high.

Again, I have not had a 'real' job since 2021

And I never will again if it can be avoided.
Full time crypto for life.

It only makes sense that I would hunker down and take a more active roll within this community. Bull market sentiment has only just begun, and I even turn 40 next month. Such a weird timeline full of milestones. Ultimately my plan was always to get my act together and build a business on Hive. My focus has always been gaming, and now with all these advances to AI and such I think the grind will be much less brutal.

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Final thoughts on sharing a witness.

Sharing a node between multiple parties is not a super easy thing to do. Hextech was formerly in a situation where it was like a group project at school where one person does all of the work. Rishi was the one doing all the work.

If we've learned anything from crypto: it's that decentralized governance is difficult to achieve. Multiple users maintaining casual ownership of the same piece of hardware is often going to result in an unstable situation. I suppose I've had the privilege of learning this first hand. Without someone definitively in charge the situation inevitably becomes much more complex. Live and learn.

At the same time it's quite noteworthy that when we first booted up the Hextech witness sharing a node made a lot more sense. The hostile takeover was just wrapping up, Price of the token was often in the 10-15 cent range, and nodes were more expensive back then before getting major efficiency upgrades. Today Hive's bottom price is more than twice as much as it was back then, and nodes are much cheaper, making it much easier to run a node solo. We've made a lot of silent progress over these last few years.

Conclusion

Rishi is a great witness, and you should throw him and upvote during this campaign season. He works side by side with @deathwing pretty often along with several other key players on the platform. He's already gone from 3-digit ranks to #59. Somehow I get the feeling I might be trading ranks with him soon enough :D but of course throw Hextech a vote if you'd like to add some fuel to this fire. Onward and upward!

As for me I will take this as a sign from the gods that it's time to double down on Hive and keep the Hextech node active while putting more effort into several projects that I started but never seemed to finish. The whole Privex situation is temporary until I buy my own hardware (which should be easy considering my share in the powerdown from Hextech is worth well over $2000). Until then: keep grinding.

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Come to OpenHive.Chat for a crash course ;-)

I honestly had no idea it was a team effort and have been a Rishi fan for as long as I've known him. However, you're a cool cat as well and I'll revote hextech if/when you get it going.

Much appreciated.

Yeah I truly thought I was going to have a more active role with the node but I just never got into it.
At the end of the day splitting the rewards 3-ways of a rank 31 witness wasn't really equitable.

I temporarily unvoted you, if you are back online I will revote you.
Of note, you have the HBD APR set to 15%. Weren´t you an advocate for continuing (for now) with the 20%? So you might want to update this.
And "rugpull", isn´t this a strong word for it?

BTW, I once wrote a guide on how to setup a node, it is easy and should work even for computer laymen.
https://peakd.com/hive-121566/@stayoutoftherz/wie-man-einen-hive-witness-node-aufsetzt-ein-tutorial-fur-computerlaien

Oh yeah the title is total clickbait.

Perhaps it's inappropriate.

Also yeah signaling 15% is not great optics at this time.
But also the witness isn't even active and I'm showing myself the ropes.
Although if Hive spiked to something like 80 cents 15% might be appropriate.

Thanks for the link and support.

I have complete confidence in you, and your ability to get up to speed with all dispatch and manage and run a witness node nominally. If I could throw 30 votes your way I would. I am sure this is an ill-timed and disconcerting event, but I am also sure you will benefit from it in due time.

While the fresh impact of this is upon you, it seems you have taken the steps necessary to expedite the process as you are able, and should allow that process to proceed as you focus on your health. I had covid a couple years ago now (or was it last year?) and found it to be a non-event for me, although I carefully calculated the horse paste dosage and am sure using the appropriate protocol to enable the zinc ionophore to do it's job helped. You are a lot younger than am I, and I am sure you will respond as well with even just zinc supplements to keep the virii out of your cells. Have a look at the Zelenko protocol, which I continue to stand by with full confidence.

Thanks!

I already had the covids twice and both times it was a non-event as well.
This is probably a cold anyway.
Perhaps I'm just being dramatic.

Either way, get much better with a quickness.

I got in my plans to run a node next year, just to keep a copy and add to the network, love to learn new tech, I was once send a tutorial on how to run it on docker, I hope you can get things sort out, most important SITTING AT THE DESK IS NOT RESTING!!! 🤬🤬🤣🤣 , Ill give you my vote to add to keep your mojo ✌️ ...seriously take a rest

I can't remember why I voted for you guys in the first places. Probably time to review all my witness votes now

ha this has happened to me a few times

Wish you luck running the witness, feel free to reach out if you need help.

I voted your node, felt funny since it is listed as disabled, but you have earned my vote. I also voted for Rishi @rishi566 at #59

full time crypto life, epic. Living the dream my brother.

I will return my vote.

Thanks friend I probably don't deserve it but I'll give it my best.

I also want to earn full time from crypto and I'm sure that will happen someday
That's what I'm trying to do

Sorry to hear your sick, and sorry to hear this happened while you were sick.

Murphies law or what?

Good Luck with your Hive Node, I will vote for yours and Rishi.

Get well soon Eddy! When you figure the set up out, you’ll have stuff to fiat us about and maybe recommendations to even make it easier or better, you’re genius like that. 🤝

tell*


Hey @mistakili, here is a little bit of BEER from @isnochys for you. Enjoy it!

Learn how to earn FREE BEER each day by staking your BEER.

Thank you for your witness vote!
Have a !BEER on me!
To Opt-Out of my witness beer program just comment STOP below

I had my vote on hextech but removed it when seeing it was randomly downvoting posts on deepdives community. Now that you're left alone in this thing and probably downvotes will stop I will give you my vote back. Not that it matters cuz my HP is shit...

Just stop being poor dagnabbit.

Good morning! The deletion has been reversed!
My greetings :)

Ah thanks man I really appreciate that.

IDK anything about this but full-time crypto for life, let's go!

Quite a situation...

Thank you for telling your side of the story. It's always important to have the whole picture.

Please feel free to tag me if you get the witness back. I'll vote back for you when you achieve that. I make all the witness votes with my witness (@aliento).

Thanks for the support.
Looks like I gotta get to work.

One witness splitting into two sounds like a win for Hive and decentralization. Good luck both! Will check the vote in a week or two.

Fork confirmed!

Thanks for your support

All the best for the solo trip.

Hey man, the way I read it on Rishi's post, I thought he meant that the Hextech witness was going away and the server was being repurposed. I used up my last witness vote on my own witness, but I will see if I can free up another one for you.

Taken a brand new opportunity on such area or field in which you likely indeed long desired passionately is a success force . Because you will passionately and excitedly put in your absolute best while doing the main tasks related obligations.

Not having much experience but seriously yearns beyond mere desperation ,an intense to develop something touching and worth while is indeed definite success propeller.

Nonetheless , you will have an awesome working life here as based on your level of write up of this very post. In close relations to the wealth of an informative breakdown. Nicepost thank you for sharing.

You should write another post after you manage to complete the replay and re-activate the witness. More people will vote/revote for you then.