TenX Community Forum

Did TenX really loose money the last 2 years?

Hey there,

I checked the first Transp. Report (that one that was a REAL transp. report) and did some math … and yeah the value of for example Bitcoin doubled since then!

Is it possible (even with a cash-burn-rate around 1 mio per month) that TenX was not loosing that much money since 2018…because of the Crypto-Asset rise?

I mean the burn rate is quite interesting … cause it says something about how long the company can “develop” until everything is gone!

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Finally a good topic. I just hope that it is not flooded again with a lot of nonsensical comments.
The topic is very extensive and the original creator has addressed many aspects. I will only focus on a small part. Namely, how I see the development of TenX in relation to money spending.
It is true that TenX has made good developments. BUT it took them 3 years to develop it. And here is a big gap. TenX is still developing the basics. Since 2017 TenX is in the process of regulating its internal structure and launching a basic product on the market.
The new product that they want to launch now will be nothing special. I just hope it won’t be something like: “we have dark mode in the app”.
So to get to the point. TenX will continue to work on the basics this year. Nothing fundamental will change next year either.
Personally, I would prefer a company that spends 3 million a month, for example, but that has a functioning product on the market in 3 years and is profitable. But that is only my estimation. I would also be interested in your opinion on this and other topics.

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The question is not whether or not they lost money, but what did they do with the money spent. Most fintech startups that are big by now (Revolut, Monese, N26,…) really invest in customer growth, despite having had millions of losses each year. The big customer base brings in more investors who are willing to put more money into the company, keeping it afloat.

Seems like TenX’s approach is quite the opposite, where they want to keep as much of the initial ICO money, so they can run for years without having any customers. Also instead of attracting new investors, they bought out their old ones. The problem is they had way too much money than they can handle, and their whole workflow is affected by it.

I mean, would you work as hard as you do now if you had millions of dollars to your name without anyone to account to? Investors want to see their money grow, and see development, so that’s a big factor to proceed forward, as they usually have a significant say in the operations. With eliminating this factor, TenX can just run however the company/Toby wants to. Keep slacking for a few more years? Fine. But don’t be surprised you have no customer base. And you’ll need it some day when the well runs dry. Won’t happen for a couple of years for sure. But WHEN it happens, I’m sure they’ll have a hard time looking for new investors.

Just ask yourself this question, with everything you know now, if they were to do a new ICO at the same PAY+TENX price we see now, would you still dive in as much as you did in 2017?

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