TenX Community Forum

How does TENX rebuild from here?

Tenx really excited me. Being able to convert crypto to fiat at the point of spending is very clever. I invested in the IPO and had every confidence that just the shear amount of money raised at that time would ensure their success and give them the depth to weather any storm. I never expected the business to have crystal clear waters and I think IPO investors would agree that we expected pushback from traditional banking.

To the credit of TENX they weathered the storm of crypto falling of a cliff shortly after the IPO and the significant impact of Julian’s exit and loosing their first card partner. I stayed committed to the project and even bought tokens on the way down.

When they relaunched with a new partner I thought long term they would be OK and shunned WIREX, MCO and others based on feedback here and other review websites. The quality of the support, committment to stringent requirements of KYC and doing it all in a timely manner was terrific and I think something Tenx could really hang their hat on.

Since the announcement on October 2nd I am not sure they can now make it back. Crypto followers are certainly an unforgiving bunch and I think they now have a real fight on their hands to regain trust and enrol new users.

The “Fight” needs to be led, and the deafening silence from Tenx in the past weeks has been astonishing. Social Media channels are unkept and it seems this time could have been better used to explain their side of the story and an opportunity for Toby to really step up. Is Wirecard’s position their fault?..No, well at least I don’t believe so…But with so many bright and talented people at Tenx and the experience of it happening before why are they not on the front foot here.

I don’t know whats going on at Tenx , we used to get transperancy reports and I think they would be well placed to publish their financials openly that were filed on the 5th of October. They don’t have to obviously…we arent shareholders…but wouldnt it stand as a way to build confidence in their brand?

If the leadership came out and said we are taking a paycut, we are invested in this project more than ever before and these our our challenges would that not inspire the community to stay on brand?

Without a card we have nothing but without leadership we face quick and certain failure.

We need to see you fighting TENX…Please fight…you need to be transerent, honest…tell us your stuggles and what your doing…Releasing things that you might consider sensitive or help your competition at this stage is just silly.

Step up Tenx.

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Why was this article deleted in the TenX Reddit?

i didnt have enough Karma points as a new user

Hi @Brendan_Gregory!
Thank you very much for your honest feedback.
I can understand very well that after a longer “communication break” one would like to know what we are doing all day long in the background. You have already mentioned one of the reasons. If we don’t come up with something new and especially new strategy and something tangible, it will be very difficult with trust. That’s why we want to prepare ourselves thoroughly to show that our new strategy has a lot of potentials and brings old and new community members on board. That this is a better strategy than relying on teasers you could see at the ICO when we already had a working product compared to many other ICO projects, even when later many things didn’t work out as planned.
As for the points about Toby/leadership team, again I understand your points well. Most of the new people on the leadership team are unknown to you. Again, there will be significant changes once we start releasing stuff. Especially with our strategic reorientation, we need active community members, and transparency and feedback from the team are extremely important if we want to succeed.

If you have any further questions or would like to know more, I’m happy to answer that, at least as much as possible.

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Super cool of you to reply to me Thomas. One of the biggest reasons I invested in Tenx is the quality of the people and the fact you took the time to send a considered response is very admirable…Thanks for what your doing Thomas…thanks for fighting…High five

Thomas I’d encourage you to go back over some of the posts in this forum and try to “Lead from the middle”…Some good ideas from long term investors who have put heaps into TENX…I saw one ICO investor put in 100 ETH…Does he deserve to have a say?..feel consulted?.. Conducting surveys now on what card holders want to see ie cashback in crypto on purchases…or doing away with complicated claim process for token rewards that cost more in gas to claim than what their worth…You need to re-enrol the Tenx community, engage them…Now is not the time to not be doing nothing…".commotion creates emotion"…Don’t just lie down…get up… start screaming, start yelling…

When I say deafening silence…I really mean it…Dont be quiet anymore…I find it really really scary.

We are here for you Thomas…we’ve got your back…Please don’t take this in any way that I am dissapointed with you personally…Quite the opposite in fact, I am very impressed…Your job is hard and challenging at the moment but your struggles are critically important… and its all about what you do about being in this position that gives you your DNA and makes success all that much sweeter.

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Hey @Tenebrae how are your plans to present anything end of this month? this was your plan right? I know you did not promise the date but it feels like (of course) you won’t make it in time and of course you don’t communicate that.
It would feel much better getting a weekly update " hey guys we are not completely in time, we can start communicating / showing our super secret sauce at beginning of November" .
Can you agree Thomas?
Your strategy is more like Brendan said deafening silence and maybe reacting to annoying guys like me…

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Thanks for your kind words to me, I appreciate it!
Even though we had many good contributions and suggestions from community members, it is often not easy to implement them. The biggest difficulties are not even due to the technical implementation but because we can’t implement them in case of compliance/legal. Another reason could be that it is not worthwhile from a marketing point of view, or we do surveys and it turns out that there is not much interest in them. There are many different reasons that vary depending on the example, so I can’t give you an exact answer, but these are a few examples.

Understandably, it always feels bad when something good is suggested and it doesn’t get any outcome. Our new strategy gives us the opportunity to involve community members. We will still have our products where community members will not have the power to make decisions but “only” give feedback, but in some parts, especially when it comes to the token economy, the community will play a key role, which in return will influence our other products.
Even if you can’t see anything yet, I think that this time we can and will have a much better structure and relationship with the community. This time it’s easy to see what community members have an influence on, even products that they own, and what only indirectly. You can see even with former competitors that the token topic is something that is not easy to handle in a longer time frame at that it will disappoint someone in the end. What we try now could solve this finally. I am looking forward to it! :slight_smile:

@adam97070 As you already guessed, we have a few delays at various points that lead to the fact that we haven’t published anything yet. I think that we will still release the first stuff before the end of the year but I still can’t assure you anything. Hence the limited communication. If there is anything specific we would let you know. But there are still too many variables and changes to communicate something detailed. As already mentioned, the aim is to get started straight away without waiting for the first product and information and with a clearer structure for you guys.

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fair enough, so Thomas I hope you will come back to us in about a month and tell us if you are still on time to publish something this year. But this time please be the active part. you push the information, not us who always need to pull…

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Are you talking about the same company?
My experience with TenX is terrible, I waited for the card for more than 2 years and never showed up and when I wanted to close my wallet and withraw my funds it was frozen and I am still waiting for them to refund my funds, 3 months and still counting.
the worst experience ever

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No problem guy, TenX has a new goal !
Long story short : with your cash, they can’t say where they go. They ask you to wait wisely. It’s simple no ?
you feel like you’ve been fucked and you’re not happy :wink:

I’m pretty sure we just need more information from you, those processes take normally just a few days

Thomas, are there also plans to make the TenX Token more accessible ? How could the average Joe and Jane participate in success&development of TenX without using “ultra thin liquid not really decentralized” DEX like forkdelta or other alternatives which are not a real solution anyway.

PAY will maybe be used for DeFi services and gain utility also PAY is listed and far more liquid than TenX (obv…), hence after the new App and System are released it will be easier to see how much value ppl give PAY in terms of Price. But the price of the TenX Token will likely not follow or bei even clear due to its accessibilty.

Actually I was infomred by TenX that they DO NOT have measures/proceedures for refunding blocked/frozen accounts
Till now after more than 3 months, they are still working on that
very proffessional indeed !!!

If we freeze an account you will be able with a personal call from us to withdraw your cryptocurrencies if not a local authority say otherwise (we had I think 1-2 cases like that). I’m sure you are just stuck somewhere in the process. Can you give me your support ticket number?

Hey @Hatako
At the moment I cannot comment anything in regards to the tokens but be assured they are part of our new strategy.

this what I got:

Your request (65676) has been received and is being reviewed by our support staff.

To add additional comments, reply to this email.

Alternatively, here are some great articles that may help:

So, the conversation is a little bit longer than just this email, but be assured as soon as we have the automatic withdrawn feature as we several times mentioned, probably ready this week and latest next week, you can just use our app to withdraw your funds. Sorry that it took a while! But be assured your funds are save and you will have access to them shortly.

the support guy told me the same thing 3 months ago
useless

Unfortunately, we had to change the method because of regulations, and because of the Wirecard issue, this has been delayed. Be assured that it will be ready by the end of this week or next week.

When I opened a TenX account there was no requirement to submit any ID or passport. Therefore, before forcing all your clients to submit an ID/passport you should’ve taken in consideration the following:

  1. What if the client doesn’t wish to verify his account?
  2. What if the client doesn’t have an ID or a passport?

For these reasons, and because account were opened without an ID/passport, you should give the client a choice between doing the verification process or closing the account and withdrawing his funds.
When I was denied access to my wallet, I was forced to verify my account and the system, for some reason didn’t accept my passport (it wasn’t easy to get a clear picture of my passport as the 1st page was too glary) and after a couple of tries the account was blocked!!!
What if I was depending on these funds?