Here are my answers to some frequently asked questions about Hxro, and I also share some of my strategies for succeeding with the game.
I've been playing Hxro for over a month. It's fun! More people are onboarding every day and I am getting a lot of questions, as I interviewed the team and am also high on the current leaderboard. This is my attempt to answer some of those common questions.
Can I play Hxro now?
There’s a waitlist with well over 30,000 people. They are onboarding slowly. However, for folks who buy tokens, I believe there is a process for speeding up platform access.
Since the platform is still in beta they don’t want to overload the system with every new user at once. I believe they’ll be really accelerating the onboarding process now though.
They’ve been working to iron out the most severe kinks over the last month as beta participants provide feedback, so the game will be ready for everyone with fewer hiccups.
Do I need the token to play?
Yes, you use Hxro to choose which side of each game you’ll be on. The purpose of the initial beta game is to pick whether the next 5 minute candle will closer higher or lower than the previous candle.
Your Hxro balance depends on your success playing, and can be exchanged for ETH on IDEX or BTC on Bittrex International. You have an additional risk or reward in the game depending on how well Hxro itself is trading.
Hxro is an “app token”. Its utility is in the gameplay. While it’s technically feasible for this to use ETH and not a token, there are various reasons for the team to use a token which all make sense to me. I believe the token has sufficient utility and I know they’ve had a good bit of legal review around this.
Can I skip the line?
If you buy tokens off of IDEX or Bittrex International and want to put them to good use right away, the team will include all token holders in the beta. Just contact them through the platform and let them know you have Hxro in an ERC-20 wallet and they will whitelist your registration email.
Is Hxro just gambling?
I wasn’t sure when I started testing. After more than a month of playing regularly, I’m convinced there is a significant skill component — and the primary skill is one of discipline.
There are fixed risks for each card in the game. You can only lose what you wager. The reward is dynamic; depending on the sentiment of the other participants, you may get a reward as small as 10% (1.1x ratio), or we’ve seen rewards well over 1000% (10x ratio). Identify trends in sentiment in addition to price action can give you an edge playing the game to maximize your rewards through strike rate (getting the call right) and more high-ratio wins (successfully counter trading sentiment).
Hxro is gambling in the same way that active trading is gambling. No more and no less. I wouldn’t consider it investing, but it’s not a “house always wins and nobody else can” situation. I’ve been very successful playing Hxro, as have many others. We have created systems, and use discipline with those systems.
To me, Hxro is social
I like to make money but I treat Hxro more like playing a casual poker game or fantasy football league with friends. I am in the Beta Telegram chat with folks and we chat about bitcoin price action, Hxro ratios, and generally have fun. It's enjoyable to me. I think there's a good community building around Hxro, and of course we all want to beat one another. There's a sense of pride in your position on the leaderboard.
It really is a blend of trading and gaming in my mind.
So how can I 100x+ my Hxro?
A handful of us have made significant gains from our original Hxro balances.
If you can blend technical analysis and sentiment analysis, you can create a system to find an edge.
The biggest tip I have for anyone is to use discipline and avoid tilting. Follow your system and take calculated risks when the time is right.
The two best rules I use are:
- Don’t dominate a singular card. Try to maximize your exposure to cards without being so much of the card that you ruin your ratio potential. My personal rule is to aim to be 10% of the upcoming card, and never more than 20% of the card. The game tells you the current Hxro in play for the upcoming card.
- I aim to risk 1% per card, and only risking more in circumstances where I’m quite confident in my strike rate. I personally never risk more than 3% of my balance on one card.
If the total card size is 10,000 Hxro, and I have 100,000 Hxro, my typical play would be to put up 1,000 Hxro (10% of card and 1% of stack) on the card. If the pool is 100,000 Hxro and I have 100,000 Hxro, I could put up 10,000 Hxro based on rule #1 but it would break rule #2, so I would still wager 1,000 Hxro. If I have 300,000 Hxro and there’s a 100,000 card, I would risk 3,000 Hxro on the card.
If you create a similar per-card risk system and stay disciplined, and combine it with effective low timeframe technical analysis, then I believe you can win. Of course, most won’t.
Do I have to pay attention every 5 minutes?
No, 90% of the time I play Hxro I play passively. Meaning, I set about an hour’s worth of positions ahead of time and let them play out, then set another hour. In times of high activity (on Hxro, in btc price, etc) I pay more active attention and may make more significant adjustments per card.
Will there be other games?
Yes. I’m really excited about the other games. There will also be tournaments and all sorts of interesting concepts they test out and implement. But for now, MoonRekt is extremely fun.
How is this allowed for Americans?
During beta, Americans can play all games. Once the game officially launches, there will be restrictions for Americans and there will be specific game types that anyone can play, but only qualifying countries will be able to play any game type.
The Hxro team has had extensive legal review from gaming and trading focused lawyers, and I’m confident that as an American I’m within my bounds. Also, the team is mostly American (the company is international) and they have more reason to be within the law than anyone.
How is the Hxro price index calculated?
They use multiple exchanges to calculate the bitcoin price. Currently it's a blend of two: Bitmex and Coinbase.
You can use the custom Hxro index price in Trading View using the custom ticker: (COINBASE:BTCUSD+BITMEX:XBTUSD)/2
The set price per card is calculated on the last communicated trade from the exchange. It's not always a perfect match to the Trading View candles, but it's really close. It turns out that getting that real time data is complex and the team is making a lot of strides perfecting how they do that. And what you see on Trading View isn't always “right”.
The site currently shows the Coinbase price feed. They're switching it to a custom feed based on the Hxro index soon.
Another common thing people ask about is why a green candle can go rekt, or vice versa. The answer is the candle “gapped down”, meaning it opened the new candle at a different price than the prior one closed. This is common in trading. So say the candle gaps down; the price can then go up, causing a green candle, but it's still Rekt because it closes lower than the previous close. Moon or Rekt is a candle close to candle close calculation, not based on candle color.
When do I get airdrop / referral rewards / other bonuses?
If you signed up to get bonus tokens, referred folks for rewards, or received some other kind of bonus, you likely want to know when those tokens will be rewarded, and where.
The “where” is in your Hxro dashboard, there is a section for tokens from bonuses. They will show up for folks after they register and have access to the platform when it launches out of beta.
In order to withdraw tokens, you need to “play through” the balance. So if you get 500 tokens in reward, you need to play with 500 tokens to make them eligible for withdrawal. This incentivizes everyone who signed up for the rewards to actually try the game out and use the token for its stated purpose. It doesn't take too long to do this, and if you use strategy you can likely increase your balance while playing through it.
If you want to play but haven't registered, sign up! If you use that link, we both get a little bit of bonus Hxro to add to our balance.
If you want to see more about Hxro, I interviewed the team on an episode of my podcast.