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:
- Promise of cashback rewards - Never happened due to regulations which is completely understandable.
- Limited edition cards - Never happened (apparently in the works).
- Julian Hosp - Self explanatory.
- 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…
A TenX ICO Investor