Please quote and verify - thanks!

I had this problem as well.

There's a bug in the wallet that means you can't unlock it when you trying to create a new address. If you unlock the wallet before creating the address (full unlock, not just for staking) then you will be able to create the address and then lock the wallet again.

Here’s why I like TenX for the long term:
- they have a working product
- their communication is great. Twice a week updates which really help those of us who have money in the project.
- So far they have hit all of their milestones, except for the change in card provider has made the wait longer for those of us outside of the Europe. This hiccup was really well signalled in their comms with excellent transparency.
- the card reward is on ‘ALL OF THE TRANSACTIONS’ that all cardholders make, not just my own spend. The other cards only reward me for my own spending, and I don’t spend much (since every dollar spent is another dollar not gaining value in BTC)
- they are sensibly releasing the number of cards slowly to ensure that they can cope with the transaction volume and ensure a great user expirence.

The risks to TenX that I see are:
- the card product is really easy to replicate. Their first mover advantage won’t last far into 2018. It would be great if they could scale up quicker.
- like any start up there is the risk of not carrying off the master plan
- if they are very successful they might be bought by a large payment processor who doesn’t invest in the PAY token platform (since this is a cost that brings little long term advantage for the long term).

Interesting looking coin.

Any chance of an updated slack invite. The one on the announce post has expired.

The amount of money growing in the total money supply (from debt etc as well as actually printing dollar bills) way exceeds the amount of currency physically destroyed. Look at what a $100 bought in 1999 vs how much that same $100 buys today. $100 today buys a whole lot less fuel, food and rent.

I guess that’s one of the big advantages of bitcoin:
- it’s a deflationary currency and so can be used as a store of wealth in troubled economic times. It’s more likely to increase in value than the USD which we know will drop in value over the next few years.
- it’s not tied to geography and won’t be caught up in a trade war. If the world moves away from the USD as a global reserve currency (as nearly happened when the Euro came along) then the USD will tank. If you are in the U.K. holding pounds really sucks right now with brexit still reducing the value of every penny. Bitcoin, once its stable, allows for greater security than any one geographic currency.
- it cheap to transfer funds if you transferring large amounts
- it has MOST of the privacy of using cash with most of the advantages of using a quick to use debit card.

I agree with the OP though in that we are so early in the development of crypto currencies that buying bitcoin is a hobby rather than a long term investment. I’m very bullish about crypto in general but I’m not putting in more than an amount I’m willing to loose and these days I’m buying a basket of currencies not just holding bitcoin. There is no way to pick the crypto winner or winners today. In face we know that some of the current high market cap coins won’t be here in a few years - we just don’t know which.

Thanks for your long and thoughtful post.

I do wonder though if you are confusing bitcoin as a currency with other financial services. Reading through your post I think there are three themes in what you are saying:

A) bitcoin is not as secure as credit cards.
Bitcoin is like cash rather than a credit card. Just like cash it’s not fundamentally secure, if I leave a wallet full of cash on the seat of my car it’s likely my car will be broken into and my wallet stolen, if I leave a wallet full of bitcoin on an insecure device it’s likely it will be hacked and stolen.

This is why card cards can charge the fees they can. You pay them through fees for the extra safety they offer of being able to cancel transactions which if you made with cash the cash would gone. There is nothing that stops a credit card company offering the same service using bitcoin as the currency rather than USD, I’m fact you probably will se that in a few years.

B) bitcoin goes up and down in value
Right now bitcoin is new, and we don’t know if it will be the crypto currency that survives in the long term. However in the long run a deflationary currency like bitcoin will always outperform holding money as cash, as the value of USD drops consistently year by year as more is created by the financial system. Bitcoin is not a stock, it doesn’t add value and pay a dividend like a company would. If anything it’s like gold, it’s value goes up as other currencies go down in value over the long run.

C) the infrastructure around bitcoin is not mature
Right now owning bitcoin is harder than owning cash or a credit card. Crypto currency is only going mainstream now and it’s going to get a lot easier to use in the new few years as the financial services industry adds more products on top of it. Already this year for the first time people who use investment banking services can open a bitcoin account, in a year or so most investment funds will own at least bitcoin. The mature products and services you are looking to use are on their way, but by the time they are here the chance to own a whole bitcoin for the average consumer will have long gone.