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Author Topic: [ANN] TenX: Making Blockchain assets spendable  (Read 331488 times)
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November 27, 2017, 06:33:46 PM
 #4121

The only reason that we have not touched it to this point is because of the banking license.  That means that this has left decentralized currency behind and is not part of this world anymore, it belongs up there with paypal and the others.  That does not make it a bad thing, simply something that the government can readily seize, demand records for and control and that is not what traders are looking for.
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Myth888
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November 27, 2017, 07:43:37 PM
 #4122

Tenx claims to have a working product but for most people they actuallydont have a working product. It only works when you can actually use the product. Sure some have received it and are able to use it already. But I bet it's not even 20% of all the people who have pre-ordered. Which puts it in the test phase. I won't call it a working product. Its still in testing. If it was a car ill call it concept car. Something that is being tested but no yet produced for retail.

Dude.....It WORKS. I can literally go to a store and buy milk and guess what.......it WORKS. It's a WORKING product, I don't care what you say but it simply WORKS. I don't know how can you say it's not a WORKING product.....just because people outside of Europe or people still on the waiting list have not received it is not anything less than a WORKING product to you???

Prototype products actually work. Concept stuff actually works. To say you have a working retail product must actually be available retail. If not that product is just a prototype. And like you said you don't care about what I'm saying. Why did you comment? If you don't care then don't bother commenting. =) unless you actually care. =p
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November 27, 2017, 09:09:52 PM
 #4123

will there be news or updates for PAY this year?
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November 27, 2017, 09:10:58 PM
 #4124

give any PAY price forecast?
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November 27, 2017, 10:16:33 PM
 #4125

Recieved my card on friday and bought a new fridge  Grin.
Thanks TenX
Received my card 1 month ago, did spend about 8k usd(~7k euro) using it. Made ~100 transactions (1-8 daily) never got any issue with card.
Did use it in online shops, in online auction sites, in silver bullion selling markets, in shops, hotels, services, atms, restaurants etc.
I found it working better than described in white-paper since i can take cash using atm without paying any withdrawal fee. Should be 2.75euro per withdrawal.
Hard to not call it a working product. Very working one for me.
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November 28, 2017, 04:40:42 AM
 #4126

Tenx claims to have a working product but for most people they actuallydont have a working product. It only works when you can actually use the product. Sure some have received it and are able to use it already. But I bet it's not even 20% of all the people who have pre-ordered. Which puts it in the test phase. I won't call it a working product. Its still in testing. If it was a car ill call it concept car. Something that is being tested but no yet produced for retail.

Okay lets get something clear. Just because you or other people in the waitlist haven't gotten your cards yet DOES NOT mean that TenX cards are non functional. Many users have shown that they have gotten the card and have shown through youtube videos how it works. I am in the waiting list myself (outside EU) and realize I have to wait patiently for my card but by no means does this mean they have no working product.

With 500 cards going out everyday and the EU list to be completed by Christmas we can all say this is good progress from where it began. For those outside EU expect Q1 2018 delivery and lest we forget they have outsourced the delivery now! All this combined should show you that they have a working product and they are working diligently to get it done. So please show some patience it is a startup not everything will work 100% from the get go!

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franc0
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November 28, 2017, 04:53:08 AM
 #4127

Tenx claims to have a working product but for most people they actuallydont have a working product. It only works when you can actually use the product. Sure some have received it and are able to use it already. But I bet it's not even 20% of all the people who have pre-ordered. Which puts it in the test phase. I won't call it a working product. Its still in testing. If it was a car ill call it concept car. Something that is being tested but no yet produced for retail.

Okay lets get something clear. Just because you or other people in the waitlist haven't gotten your cards yet DOES NOT mean that TenX cards are non functional. Many users have shown that they have gotten the card and have shown through youtube videos how it works. I am in the waiting list myself (outside EU) and realize I have to wait patiently for my card but by no means does this mean they have no working product.

With 500 cards going out everyday and the EU list to be completed by Christmas we can all say this is good progress from where it began. For those outside EU expect Q1 2018 delivery and lest we forget they have outsourced the delivery now! All this combined should show you that they have a working product and they are working diligently to get it done. So please show some patience it is a startup not everything will work 100% from the get go!

Don't wait your time, it is clear FUD. They will never stop with the FUD, Even when there's a zillion of evidence all over youtube of TENX cards working, investors from other rival projects will never stop the FUD, that's because they feel threatened. It's a normal human behaviour. And FUD won't stop until page 9948475637473 of this thread.

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November 28, 2017, 05:23:38 AM
 #4128

Tenx claims to have a working product but for most people they actuallydont have a working product. It only works when you can actually use the product. Sure some have received it and are able to use it already. But I bet it's not even 20% of all the people who have pre-ordered. Which puts it in the test phase. I won't call it a working product. Its still in testing. If it was a car ill call it concept car. Something that is being tested but no yet produced for retail.

Okay lets get something clear. Just because you or other people in the waitlist haven't gotten your cards yet DOES NOT mean that TenX cards are non functional. Many users have shown that they have gotten the card and have shown through youtube videos how it works. I am in the waiting list myself (outside EU) and realize I have to wait patiently for my card but by no means does this mean they have no working product.

With 500 cards going out everyday and the EU list to be completed by Christmas we can all say this is good progress from where it began. For those outside EU expect Q1 2018 delivery and lest we forget they have outsourced the delivery now! All this combined should show you that they have a working product and they are working diligently to get it done. So please show some patience it is a startup not everything will work 100% from the get go!

500 cards a day that's great. Oh wait didn't they say they won't provide details as too how much cards there are now. And where's the proof there are 500 cards being shipped everyday. I tend to be skeptical when a company promises things that seem to be extended over and over again. I recalled that the cards were promised way before Nov. Then moved to November. Then now moved to Q1.

Asking for patience is fair for a start up. I do like the project and what it is trying to do. Would they be able to accomplish it? I'm not sure. But I do support what they want to do. And critism is something normal and important to drive people and company to be do better.

If by working you mean a product has a few of its product actually working. Then someone could just say I have a working debit card even if he had only 10 customers with working debit cards out of 1000 who ordered. I don't think that is really something to be proud of. I think that's actually a failure.

I hope you people are able to look at the big picture instead of only looking at yourself. The over all situation. Just because you got your cards does not mean it's a success. Specially those who actually invested in ico. If you want the company to actually do better. Offering constructive critism is important.

Saying that's its OK for people to wait 1yr for their cards is OK as long as I have mine already does not really help them grow. Even if I receive my card I will still push for the company to step up and actually be able to speed up their issuance. After all it is their main and only business angle at the moment.

Sure there were hiccups that delayed their issuance. But that doesn't mean they don't deserve critism for not being able to deliver at a reseonable time. A customer who actually criticize a product is helpful and constructive. That means he was disappointed but clearly wanted the product to improve. A customer who walks away without a word just thinks the product is trash.
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November 28, 2017, 07:02:56 AM
 #4129

Tenx claims to have a working product but for most people they actuallydont have a working product. It only works when you can actually use the product. Sure some have received it and are able to use it already. But I bet it's not even 20% of all the people who have pre-ordered. Which puts it in the test phase. I won't call it a working product. Its still in testing. If it was a car ill call it concept car. Something that is being tested but no yet produced for retail.

Okay lets get something clear. Just because you or other people in the waitlist haven't gotten your cards yet DOES NOT mean that TenX cards are non functional. Many users have shown that they have gotten the card and have shown through youtube videos how it works. I am in the waiting list myself (outside EU) and realize I have to wait patiently for my card but by no means does this mean they have no working product.

With 500 cards going out everyday and the EU list to be completed by Christmas we can all say this is good progress from where it began. For those outside EU expect Q1 2018 delivery and lest we forget they have outsourced the delivery now! All this combined should show you that they have a working product and they are working diligently to get it done. So please show some patience it is a startup not everything will work 100% from the get go!

500 cards a day that's great. Oh wait didn't they say they won't provide details as too how much cards there are now. And where's the proof there are 500 cards being shipped everyday. I tend to be skeptical when a company promises things that seem to be extended over and over again. I recalled that the cards were promised way before Nov. Then moved to November. Then now moved to Q1.

Asking for patience is fair for a start up. I do like the project and what it is trying to do. Would they be able to accomplish it? I'm not sure. But I do support what they want to do. And critism is something normal and important to drive people and company to be do better.

If by working you mean a product has a few of its product actually working. Then someone could just say I have a working debit card even if he had only 10 customers with working debit cards out of 1000 who ordered. I don't think that is really something to be proud of. I think that's actually a failure.

I hope you people are able to look at the big picture instead of only looking at yourself. The over all situation. Just because you got your cards does not mean it's a success. Specially those who actually invested in ico. If you want the company to actually do better. Offering constructive critism is important.

Saying that's its OK for people to wait 1yr for their cards is OK as long as I have mine already does not really help them grow. Even if I receive my card I will still push for the company to step up and actually be able to speed up their issuance. After all it is their main and only business angle at the moment.

Sure there were hiccups that delayed their issuance. But that doesn't mean they don't deserve critism for not being able to deliver at a reseonable time. A customer who actually criticize a product is helpful and constructive. That means he was disappointed but clearly wanted the product to improve. A customer who walks away without a word just thinks the product is trash.

yeah that's true,
but I think TenX is dealing really well off with the problems they had so far

everyone is expecting the new Apple-Amazon-Visa-like crypto card company, because they made a shitload of money in their ICO, but common sense tells you, that this is just not possible in a short time frame....and TenX is working as a startup company for only 4 months now
they have a lot of shit to handle with

I can also understand the people who are waiting very long now for their cards and that it must be annoying to wait
...luckily I got my card already and am using it for nearly every purchase now,... some things also annoy me....for example that I cannot use ETH right now
but as I mentioned before.... for example when I ordered my Ledger N S, I waited 3 damn months, and at the beginning not everything was running smoothly.... but I am still happy as fuck about that little stick


what drives me nuts about TenX sometimes are the open phrases about certain things,... but I think thats mainly because of legal reason....


after all,... I believe TenX will change the market and will have a muuuuch more bigger impact on the financial world and the crypto space than most of us can think of right now...

I know we heard that word to often,.... but PATIENCE is the key rightnow....
everybody believing in what they do, will be satisfied  af the next weeks and months WinkWinkWinkWink
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November 28, 2017, 07:53:37 AM
 #4130

give any PAY price forecast?

January : $6 < PAY < $9
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November 28, 2017, 08:36:12 AM
 #4131

Chinese exchange Huobi just listed PAY today and will commence trading today (11/28/2017)

you can read the press release here:https://www.huobi.pro/notice_detail/?id=720

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November 28, 2017, 10:13:53 AM
 #4132

Tenx claims to have a working product but for most people they actuallydont have a working product. It only works when you can actually use the product. Sure some have received it and are able to use it already. But I bet it's not even 20% of all the people who have pre-ordered. Which puts it in the test phase. I won't call it a working product. Its still in testing. If it was a car ill call it concept car. Something that is being tested but no yet produced for retail.

Okay lets get something clear. Just because you or other people in the waitlist haven't gotten your cards yet DOES NOT mean that TenX cards are non functional. Many users have shown that they have gotten the card and have shown through youtube videos how it works. I am in the waiting list myself (outside EU) and realize I have to wait patiently for my card but by no means does this mean they have no working product.

With 500 cards going out everyday and the EU list to be completed by Christmas we can all say this is good progress from where it began. For those outside EU expect Q1 2018 delivery and lest we forget they have outsourced the delivery now! All this combined should show you that they have a working product and they are working diligently to get it done. So please show some patience it is a startup not everything will work 100% from the get go!

500 cards a day that's great. Oh wait didn't they say they won't provide details as too how much cards there are now. And where's the proof there are 500 cards being shipped everyday. I tend to be skeptical when a company promises things that seem to be extended over and over again. I recalled that the cards were promised way before Nov. Then moved to November. Then now moved to Q1.

Asking for patience is fair for a start up. I do like the project and what it is trying to do. Would they be able to accomplish it? I'm not sure. But I do support what they want to do. And critism is something normal and important to drive people and company to be do better.

If by working you mean a product has a few of its product actually working. Then someone could just say I have a working debit card even if he had only 10 customers with working debit cards out of 1000 who ordered. I don't think that is really something to be proud of. I think that's actually a failure.

I hope you people are able to look at the big picture instead of only looking at yourself. The over all situation. Just because you got your cards does not mean it's a success. Specially those who actually invested in ico. If you want the company to actually do better. Offering constructive critism is important.

Saying that's its OK for people to wait 1yr for their cards is OK as long as I have mine already does not really help them grow. Even if I receive my card I will still push for the company to step up and actually be able to speed up their issuance. After all it is their main and only business angle at the moment.

Sure there were hiccups that delayed their issuance. But that doesn't mean they don't deserve critism for not being able to deliver at a reseonable time. A customer who actually criticize a product is helpful and constructive. That means he was disappointed but clearly wanted the product to improve. A customer who walks away without a word just thinks the product is trash.

yeah that's true,
but I think TenX is dealing really well off with the problems they had so far

everyone is expecting the new Apple-Amazon-Visa-like crypto card company, because they made a shitload of money in their ICO, but common sense tells you, that this is just not possible in a short time frame....and TenX is working as a startup company for only 4 months now
they have a lot of shit to handle with

I can also understand the people who are waiting very long now for their cards and that it must be annoying to wait
...luckily I got my card already and am using it for nearly every purchase now,... some things also annoy me....for example that I cannot use ETH right now
but as I mentioned before.... for example when I ordered my Ledger N S, I waited 3 damn months, and at the beginning not everything was running smoothly.... but I am still happy as fuck about that little stick


what drives me nuts about TenX sometimes are the open phrases about certain things,... but I think thats mainly because of legal reason....


after all,... I believe TenX will change the market and will have a muuuuch more bigger impact on the financial world and the crypto space than most of us can think of right now...

I know we heard that word to often,.... but PATIENCE is the key rightnow....
everybody believing in what they do, will be satisfied  af the next weeks and months WinkWinkWinkWink

3 months is actually resealable. For 6 months to 1yr is not. So far some have been waiting for 6 months and have not receive the product.

This app has been sitting on my phone doing nothing. My BTC sitting there doing nothing. Before I actually ordered this card and installed this app I was using another app. That app did not do any ico. No fundraising.

Installed it. Ordered an on online card for free. Loaded it up w BTC. Paid for my 1st item in literally mins. Compared to tenx they couldn't do that in 5 months. BTW I live in a 3rd world country. Surely if a small team of 3rd world techs can do that a team with better funding can do more.

Yup sure that app lost its card function temporarily. Buy its still far useful than the tenx app. I pay my bills using the app and send money to different bank accounts all within the app and in just a few clicks. Still can buy anything I want online with a local debit card where I send my funds to. I can also buy BTC on the app itself. I can even cash out at probably a thousand locations in my country instantly.

So forgive me if I have more expectations from a bigger more funded company. And BTW there were 2 of such app here. I just wanted an upgrade from a bigger company. So far mostly disappointed. Maybe we have better developers here. Or maybe tenx just need to step up and deliver better than some small 3rd world team with less funding and no fund raising.
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November 28, 2017, 10:25:53 AM
 #4133

It is not possible to wait for 6 months, product doesn't exist that long..  Roll Eyes

You don't get what TenX is about... It's not about sending bitcoin to an account, exchanging it for fiat and then pay with it. You send bitcoin and it will be bitcoin untill that very moment when you pay. Or you just switch to ethereum and pay with ethereum instead of bitcoin.

If you don't see the potential, that's fine. Leave the thread and enjoy your card. But stop fudding around here. If you don't like the product, skip it.

Passion.
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November 28, 2017, 10:27:00 AM
 #4134

6 months??? didn't know that you could already order the cards in May

Ordered mine at the end of July and got it last month
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November 28, 2017, 10:51:03 AM
 #4135

After Reading some random posts the last couple of pages I get that ppl are tirdedsome waiting for their cards. But besides that what is the current user experience from those who has used the card?
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November 28, 2017, 11:56:10 AM
 #4136

After Reading some random posts the last couple of pages I get that ppl are tirdedsome waiting for their cards. But besides that what is the current user experience from those who has used the card?

I do understand that are delays in shipping cards, but guys, dont blame them that much for this issue, take a look at other similar projects and you will see that they dont even start to issue any card yet! So, be a little more understanding Smiley

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November 28, 2017, 01:15:20 PM
 #4137

Are all current card holders from Europe?....that seems like the case ...

either way, it's probably regulations and governments wanting to know the intricate details and other hoops they have to jump through that's causing the delay.
Fantastic project and a great team behind it. Patience is virtue my friends.
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November 28, 2017, 01:24:44 PM
 #4138

This is some big news right here. Huobi does quite a bit of volume and opens up the asian market. Great work Tenx!

Chinese exchange Huobi just listed PAY today and will commence trading today (11/28/2017)

you can read the press release here:https://www.huobi.pro/notice_detail/?id=720


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November 28, 2017, 02:44:42 PM
 #4139

I'm scrating my head about three things, I do not understand. Maybe one can enlighten me, please.

https://blog.tenx.tech/tenx-q-a-livestream-and-transcript-10th-oct-2017-146c826cf66c
Quote
17) If we get rid of cards, will PAY holders still get the reward?

We cannot guarantee the 0.5% on any payment system, because on some payment systems we may not have 0.5% With any new payment systems that we are adding, we may be subject to different conditions. If we only get 0.25% from someone, we cannot forward you 0.5%. That said, we are not intending to remove the 0.5% from the debit card, because the commissions are there.

1) Do they consider to get rid of cards, if so what is their business then, if not why mention it in first place ?

2) They can't even offer the promised 0.5%, because they themselves may just get 0.25% and also have to cover operations, wages, offices, etc from it ?


3) My last question is the most important one. The only value driver for the PAY token is the 0.5% reward mentioned in the whitepaper as far as I understand. To justify today's token price of $2.46 right now derived from 0.5% of all transactions means:

104,661,310 tokens * $2,46 = $257,466,822.6 need to be collected

To make this happen we need 200 * <$ value of 0.5%> = $51,493,364,520
(close to a third of today's BTC marketcap: $167,024,234,822)

Under consideration that company tokens will get rewards as well, sooner or later (otherwise they would not have any use case or value) it becomes worse as you can imagine: 205,218,256 PAY tokens * $2,46 * 200 = $100,967,381,952

Let's calculate with 12k per person spent via the card in average, quite high, but may happen:
$12,000 * 0,005 = $60 collected (0.5% reward)

So, to collect $51,493,364,520  TenX needs: $51,493,364,520 / $60 per person and yr  = 858,222,742 the amount of customer years required (one customer 10 years is equal to 10 customers one year).

Let's take a 10yrs forcast time (valid for some long term investors), it means TenX needs to have 85,822,274 customers spending $12k in average per year, and all company tokens must be destroyed. Otherwise the number roughly doubles to ~170,000,000 customers. If we do the math with 0.25% rewards it is >300 million customers required.
Just to break even on today's token price, while BTC keeps rising. And break even means not to make any profit at all.

=> Why does anyone buy it at these prices  ?

Tell me, please, WHAT do I miss here??
* Is my math based on wrong facts and weird assumptions?
* Is there any obviously error I can't spot ?
* Or sth else I'm too blind to see ?

I'm VERY confused, since it seems I miss a few major points and thus look like a fool not getting the actual point.

To be clear: I want a fact-based discussion about it, a major bit missing in my picture, please help me to get it resolved. If you call my valid question just FUD, I'll call you just a marketmanipulator in return, because you are obviously NOT interessted in facts but play with ppl's emotions, only.

Thanks to whoever is willing to point me to the missing bits, much appreciated.

..and Thou shalt spread the coin in the name of cryptography for eternity
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November 28, 2017, 03:46:43 PM
 #4140

I'm scrating my head about three things, I do not understand. Maybe one can enlighten me, please.

https://blog.tenx.tech/tenx-q-a-livestream-and-transcript-10th-oct-2017-146c826cf66c
Quote
17) If we get rid of cards, will PAY holders still get the reward?

We cannot guarantee the 0.5% on any payment system, because on some payment systems we may not have 0.5% With any new payment systems that we are adding, we may be subject to different conditions. If we only get 0.25% from someone, we cannot forward you 0.5%. That said, we are not intending to remove the 0.5% from the debit card, because the commissions are there.

1) Do they consider to get rid of cards, if so what is their business then, if not why mention it in first place ?

2) They can't even offer the promised 0.5%, because they themselves may just get 0.25% and also have to cover operations, wages, offices, etc from it ?


3) My last question is the most important one. The only value driver for the PAY token is the 0.5% reward mentioned in the whitepaper as far as I understand. To justify today's token price of $2.46 right now derived from 0.5% of all transactions means:

104,661,310 tokens * $2,46 = $257,466,822.6 need to be collected

To make this happen we need 200 * <$ value of 0.5%> = $51,493,364,520
(close to a third of today's BTC marketcap: $167,024,234,822)

Under consideration that company tokens will get rewards as well, sooner or later (otherwise they would not have any use case or value) it becomes worse as you can imagine: 205,218,256 PAY tokens * $2,46 * 200 = $100,967,381,952

Let's calculate with 12k per person spent via the card in average, quite high, but may happen:
$12,000 * 0,005 = $60 collected (0.5% reward)

So, to collect $51,493,364,520  TenX needs: $51,493,364,520 / $60 per person and yr  = 858,222,742 the amount of customer years required (one customer 10 years is equal to 10 customers one year).

Let's take a 10yrs forcast time (valid for some long term investors), it means TenX needs to have 85,822,274 customers spending $12k in average per year, and all company tokens must be destroyed. Otherwise the number roughly doubles to ~170,000,000 customers. If we do the math with 0.25% rewards it is >300 million customers required.
Just to break even on today's token price, while BTC keeps rising. And break even means not to make any profit at all.

=> Why does anyone buy it at these prices  ?

Tell me, please, WHAT do I miss here??
* Is my math based on wrong facts and weird assumptions?
* Is there any obviously error I can't spot ?
* Or sth else I'm too blind to see ?

I'm VERY confused, since it seems I miss a few major points and thus look like a fool not getting the actual point.

To be clear: I want a fact-based discussion about it, a major bit missing in my picture, please help me to get it resolved. If you call my valid question just FUD, I'll call you just a marketmanipulator in return, because you are obviously NOT interessted in facts but play with ppl's emotions, only.

Thanks to whoever is willing to point me to the missing bits, much appreciated.

Just my 2 bitcoin cents worth.
Your concerns are valid.
If I understand you correctly, you are assuming that the price of the token will pay for itself in a year.
In a traditional stock, the logic you applied does not exist also; I know PAY isn't a security (maybe) and the reason is that with traditional stock the price is attached to partial ownership of the company too.
But as a retail investor in traditional stock, let's face it, that amounts to nothing unless you own a majority share.
In the same way the "rights" of a retail investor is "like" what we have now as a PAY token holder; nothing.
Humor me for a second and assume we can ignore that fact.
Traditional stock dividend is normally about 2-5% of the stock price, lets put it at 3%.
With that you can use the 3% to back calculate what is the amount of transaction needed and project the amount of users it needs to achieve.
I think that is a more realistic view.
Feel free to correct me.
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