TenX Community Forum

AMA discusion while main topic is locked

AMA topic is currently closed but maybe you want to share your opinion about current answers.

I mostly liked current answers, especialy that Tenx will buy PAY off the market and that Tenx will work with other card issuer in EU not wait for VISA and self issuing cards.
Paying rewards to Tenx held tenx tokens doesn’t seem like great idea, considering Tenx already got 95m pay for purpose of promoting tenx. I hope there is some other reasoning behing it.

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It would of been great if Toby or a representative actually answered my question but just like I suspected they skipped and ignored my question, as far as I’m concerned I’m starting lose hope for TenX at this point.

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hi!

I want to clear one thing with you moratari in regard to AMA with our CEO and Co-Founder Toby Hoenisch

I think the agreement for the ICO was, to get a reward token for money. Done. But then TenX recognized some problems with the PAY token and had to create a new one. a ERC1400 token with support for KYC. So we had to swap from PAY to TENX. To keep PAY alive is a extra bonus and not the basic agreement of the ICO, because everyone can swap to the TENX token. So I dont share your view with scamming.

Anyway. It seems we are just spectators and there are questions they dont like to answer. Important infos to understand the big picture (AMA with our CEO and Co-Founder Toby Hoenisch) are missing and we have to belief and trust. Oh jesus

Dear Toby,

Thanks for answering some of the most asked questions in the AMA, I’ve signed up specifically to this forum in order for you/your team to read the thoughts of one of your original investors. Before I do that however I would like you to know that I have absolutely no formal education in the business world, I do however understand the corporate world and how it all works at a higher level than the majority - partly because I’ve managed to run multi-million dollar companies without the need of private investors or funding, a lot of these companies originated from ideas to garage based teams to becoming bought out by large public based companies.

Being upfront, I put over $200,000USD into TenX at the ICO. Those days were quite exciting with a lot of promises/disapointments/new regulations & upsets. There’s so much that’s happened during the time the ICO occured up until this date and there’s been times where I have thought to myself - these guys are a start up company, they’re still learning and no one should be to hard on them. However it’s gotten to a point where it’s now gotten to the best of me and I am quite displeased with the latest news, so lets recap some things:

  1. Promise of cashback rewards - Never happened due to regulations which is completely understandable.
  2. Limited edition cards - Never happened (apparently in the works).
  3. Julian Hosp - Self explanatory.
  4. The issues with WaveCrest (single point of failure).

There’s plenty of other things such as ‘delays’, ‘false announcements where deadlines have never been met’, ‘insider trading by Julian’ & more. I looked at these things to the point that TenX is a startup with over $100MUSD in funding, they’re developing a company from the ground up. Things will take time to develop. However this has not been the case, you can easily identify that the people behind the decision making haven’t actually got any experience with making smart decisions that will help TenX grow in the near future and here’s why:

How can you claim the full amount of TenX tokens (the tokens TenX owns along with the unclaimed tokens), it’s extremely unethical from the investors point of view. Your investors… the people that gave up their savings to make TenX possible for YOU & the CRYPTOSPACE are now being punished, the same investors that brought your family, friends etc to TenX. Yes, the supply is now HUGE because all 100M+ tokens have been created in the form of TENX, so supply outweighs the demand of these tokens due to the fact that you’ve already hurt the overall value of the token because you’ve now created a duplicate coin used for another purpose. I like the fact that TENX will reward its users in the form of PAY tokens and that PAY tokens requires some form of ‘utlity’, however the decision to reward yourselves along with distributing all tokens makes things a little ridiculous.

You’ve put out a pretty standard corporate response after clearly not listening to the community, unfortunately that doesn’t fly with me. It’s absolutely disgusting that over the past 24 months of TenX operating we’ve received mostly bad news (original investors) along with major losses financially - yet to be hit with more stupid news that affects the overall price of the PAY/TENX token long term if not forever. You’ve got a perfect recipe for a company that will essentially run out of funds eventually & learn a very valuable lesson later than sooner due to poor decisions and inexperienced business operators - I hope it doesn’t get to that for your sake.

Also in regards to the current status of my holdings, I’ve sold all my tokens at a major loss I’ve held them since ICO.

PS. Unclaimed tokens along with their rewards & the current PAY tokens owned by TENX (which will now for some reason get distributed as TENX tokens to TenX) should have been distributed to your ICO investors, they’ve been through enough shit with TenX - the greed on your end is un-natural for a start up, I would expect this from a fiat based bank…

Yours Truly,
A TenX ICO Investor

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Not everyone can swap to Tenx token. For many ppl only option to participate in Tenx enterprise is through PAY token. Killing PAY token like this would be bad. I didn’t say tenx is scamming anyone, just that what you are asking would be close to a scam.
I am very pleased Tenx is planning to care a lot about PAY token use cases. At this point killing tenx token or pay token is unimaginable for me. This is good solution to keep 2 coins, 1 for reward system 1 for utility and ecosystem, idea of changing this currently created equilibrium is very scary for me.

Everyone from the ICO should still be able to do so. If not please tell me why.

Yes you didn’t say TenX is scamming, you said my suggestion would be a scam to ICO investors and you are happy TenX is not listening to guys like me.

I understand that it would be bad for some pay holder that are not able to claim.

I guess you will be lucky, because PAY will stay, whatever I say here. If PAY gets a use case this is ok and can make sense. Many company’s would love to have a similar bonus program, it depends from what TenX is going to make out of it.

What I personal don’t like are losses in cause of changing BTC/LTC to PAY to BTC/LTC, so it would make sense to payout rewards directly without conversions between.

And I hope PAY will be a benefit and not a burden. Because PAY doesnt help to make the use of TenX easier I guess. The solution should be neat and simple not bloated. Finally only a superior TenX will give you the best rewards with or without pay … so they should be free to design there system with or without pay, that should not be a must to have.

Ok, good luck here

What’s the point of AMA if you don’t answer?