[ANN] SophiaTX Announcement - The Blockchain for Business

[Dasengineer]

Totally irresponsible to just leave worthless sophiatx tokens to be sold on exchanges like etherdelta. Fuck your company.

Why? From their perspective is great. They sold ERC20 tokens and don't give people mainnet tokens then the team can sell the same tokens into the market a second time.
More money for them. Fuck the token holders and project supporters right. Unregulated crypto space is a scammers dream world. And the team are crooks.

Wow, such an offensive statement you are making here. I wasn't following Sophia for a while, but I have some ERC-20 tokens in the wallet. Wanted to swap them, but now I'm thinking to sell.
Can you please provide proofs of what you are saying? How they scammed people and didn't give coins after mainnet launch?

[muleroaa]

Totally irresponsible to just leave worthless sophiatx tokens to be sold on exchanges like etherdelta. Fuck your company.

Why? From their perspective is great. They sold ERC20 tokens and don't give people mainnet tokens then the team can sell the same tokens into the market a second time.
More money for them. Fuck the token holders and project supporters right. Unregulated crypto space is a scammers dream world. And the team are crooks.

Wow, such an offensive statement you are making here. I wasn't following Sophia for a while, but I have some ERC-20 tokens in the wallet. Wanted to swap them, but now I'm thinking to sell.
Can you please provide proofs of what you are saying? How they scammed people and didn't give coins after mainnet launch?

He does not properly understand how this process works, they did not scam people at all. As you can see in the Token Swap instructions here:

https://www.sophiatx.com/storage/web/SophiaTX_TokenSwap2.pdf?_t=1533808900

You do not actually send the ERC-20 tokens to the team, you link your existing public key to a new SophiaTX public key by sending a 0 gas transaction from the ERC-20 address that you currently control. No actual coins get sent to the team. After going through the process your new MainNet tokens will be accessible through the created public/private key in the before mentioned process.

It is true that the remaining ERC-20 tokens can be sold onto a second market (by the person who still holds the ERC-20 tokens, not the SophiaTX team), however the SophiaTX team already has announced that they will have a buyback program for these old tokens:

The team has decided to introduce a voluntary “Buy-Back” program for all “old” ERC20
tokens. As per previous communication, the “old” ERC20 tokens are no longer valid for
the token swap for "new" tokens (native to new mainnet). The “Buy-Back” will be done
at the rate of 1 “new” token for 20 "old" ERC20 tokens (1:20). These tokens will be
bought back by the team and represent a fair mechanism; this allows the SPHTX team
to distribute more tokens to the existing community, which has been very supportive
of the project. At the same time, it allows for the process to eliminate “old” tokens from
circulations. The procedure will be available later in August, and the “Buy-Back” campaign
will last until at least the end of September.

https://www.sophiatx.com/storage/web/SophiaTX_Update.pdf?_t=1533037375

[Dasengineer]

Totally irresponsible to just leave worthless sophiatx tokens to be sold on exchanges like etherdelta. Fuck your company.

Why? From their perspective is great. They sold ERC20 tokens and don't give people mainnet tokens then the team can sell the same tokens into the market a second time.
More money for them. Fuck the token holders and project supporters right. Unregulated crypto space is a scammers dream world. And the team are crooks.

Wow, such an offensive statement you are making here. I wasn't following Sophia for a while, but I have some ERC-20 tokens in the wallet. Wanted to swap them, but now I'm thinking to sell.
Can you please provide proofs of what you are saying? How they scammed people and didn't give coins after mainnet launch?

He does not properly understand how this process works, they did not scam people at all. As you can see in the Token Swap instructions here:

https://www.sophiatx.com/storage/web/SophiaTX_TokenSwap2.pdf?_t=1533808900

You do not actually send the ERC-20 tokens to the team, you link your existing public key to a new SophiaTX public key by sending a 0 gas transaction from the ERC-20 address that you currently control. No actual coins get sent to the team. After going through the process your new MainNet tokens will be accessible through the created public/private key in the before mentioned process.

It is true that the remaining ERC-20 tokens can be sold onto a second market (by the person who still holds the ERC-20 tokens, not the SophiaTX team), however the SophiaTX team already has announced that they will have a buyback program for these old tokens:

The team has decided to introduce a voluntary “Buy-Back” program for all “old” ERC20
tokens. As per previous communication, the “old” ERC20 tokens are no longer valid for
the token swap for "new" tokens (native to new mainnet). The “Buy-Back” will be done
at the rate of 1 “new” token for 20 "old" ERC20 tokens (1:20). These tokens will be
bought back by the team and represent a fair mechanism; this allows the SPHTX team
to distribute more tokens to the existing community, which has been very supportive
of the project. At the same time, it allows for the process to eliminate “old” tokens from
circulations. The procedure will be available later in August, and the “Buy-Back” campaign
will last until at least the end of September.

https://www.sophiatx.com/storage/web/SophiaTX_Update.pdf?_t=1533037375

The swap procedure looks very strange and not just a regular send=>receive. That is why the guy above probably assuming scam. They read your ETH address for tokens and swap by balance, then you need to wait upto 3 days and check yourself in some github list. Why to do all this hussle? Most of the swaps I have participated is just easy as it is.

Oh, btw where is the wallet? Is it just web-based or something?

I assume that SPHTX lost so much in value not just because of bear market

[fq,frHUxP*joE]

It's not just a fork from someone's another project. It's fully independent blockchain launched from scratch, it takes time.

However, the snapshot was taken and the balances were transferred into the new blockchain, blockchain was successfully launched a month ago. You guys who can't even find the wallet address of a project that you're supposedly following, maybe the crypto world is just not for you?

[SophiaTX]

I bought SPHTX in Cobinhood three months ago ... but I think there is a change in the token ... any info?

Hello,

Please follow the instructions for Cobinhood hodlers here --> https://www.sophiatx.com/storage/web/SophiaTX_TokenSwap2.pdf?_t=1533808900

[farhadyakhdani]

Unfortunately, with your investment in this project, I lost most of my capital / I was sorry for myself for Sophia because I could not handle the promises he had given me / I'm really upset because I feel like playing with me The above reminders strongly sell the seller / I do not know what to do

[farhadyakhdani]

How many times have you asked / please answer why you do not do anything against the price drop / why you do not support the price / why do not you protect investors' funds

[Dasengineer]

How many times have you asked / please answer why you do not do anything against the price drop / why you do not support the price / why do not you protect investors' funds

I'm not sure what are you talking about, everything is going down, BTC lost around 80% value, so what do you expect from other small-cap alts? They could introduce something like the buyback program, but believe me, in the bear market nothing helps to keep the price positive for all investors. And if they will run out of funds, because of buyback then they won't have money to develop and advertise their product.

 Actually, we are all not investors, we are token holders. Sad but true. Learn the lesson from this, don't tie yourself to any project, you see what can happen if you play the emotional game. Don't do this again.

[Greenmountains]

Totally irresponsible to just leave worthless sophiatx tokens to be sold on exchanges like etherdelta. Fuck your company.

Why? From their perspective is great. They sold ERC20 tokens and don't give people mainnet tokens then the team can sell the same tokens into the market a second time.
More money for them. Fuck the token holders and project supporters right. Unregulated crypto space is a scammers dream world. And the team are crooks.

Wow, such an offensive statement you are making here. I wasn't following Sophia for a while, but I have some ERC-20 tokens in the wallet. Wanted to swap them, but now I'm thinking to sell.
Can you please provide proofs of what you are saying? How they scammed people and didn't give coins after mainnet launch?

He does not properly understand how this process works, they did not scam people at all. As you can see in the Token Swap instructions here:

https://www.sophiatx.com/storage/web/SophiaTX_TokenSwap2.pdf?_t=1533808900

You do not actually send the ERC-20 tokens to the team, you link your existing public key to a new SophiaTX public key by sending a 0 gas transaction from the ERC-20 address that you currently control. No actual coins get sent to the team. After going through the process your new MainNet tokens will be accessible through the created public/private key in the before mentioned process.

It is true that the remaining ERC-20 tokens can be sold onto a second market (by the person who still holds the ERC-20 tokens, not the SophiaTX team), however the SophiaTX team already has announced that they will have a buyback program for these old tokens:

The team has decided to introduce a voluntary “Buy-Back” program for all “old” ERC20
tokens. As per previous communication, the “old” ERC20 tokens are no longer valid for
the token swap for "new" tokens (native to new mainnet). The “Buy-Back” will be done
at the rate of 1 “new” token for 20 "old" ERC20 tokens (1:20). These tokens will be
bought back by the team and represent a fair mechanism; this allows the SPHTX team
to distribute more tokens to the existing community, which has been very supportive
of the project. At the same time, it allows for the process to eliminate “old” tokens from
circulations. The procedure will be available later in August, and the “Buy-Back” campaign
will last until at least the end of September.

https://www.sophiatx.com/storage/web/SophiaTX_Update.pdf?_t=1533037375

The swap procedure looks very strange and not just a regular send=>receive. That is why the guy above probably assuming scam. They read your ETH address for tokens and swap by balance, then you need to wait upto 3 days and check yourself in some github list. Why to do all this hussle? Most of the swaps I have participated is just easy as it is.

Oh, btw where is the wallet? Is it just web-based or something?

I assume that SPHTX lost so much in value not just because of bear market

The team told me to consolidate my holdings on Qryptos and everything would be reviewed, sorted out and OK.
 
They gave out bad advice. Not timely advice on procedures. How is tweeting two days after snapshot that anyone with funds on unsupported exchange or moving them isn't getting mainnet tokens? Little late don't you think? Not well publicized procedures. One or two tweets day of and day after are not sufficient. Not everyone is face locked to Twitter on their phone 24 hours a day and is a totally unreasonable expectation. It is incompetent beyond belief. It is unethical beyond belief they make no effort to fix and instead confiscate tokens for their own personal gain.

In any other market they would be hauled off by regulators in hand cuffs.

Oh and after waiting patiently for a month I find out not getting anything not even for tokens never moved all year. The response from SophiaTX was "lol better be more careful next time. take it up with Qryptos" Yeah they are a fucking scam. They are going to find a way to screw all of you just wait and see. It isn't like any of you are senior management at large companies with SAP implementations. They have our money already and don't need you.

[gerb]

ICO investors are doing great never went down ICO price and I really wanted to go even more downside to buy more  , this project is fantastic and is holding its price very well, sorry for the latecomers that bought at the top and please hodl strong we are going to make it. September is coming

[Chief__Architect]

How does a company implement strategic blockchain projects for enterprise IT, if they are not even able to organize a complaint token-swap?
Does this failed swap demonstrate their ability to execute in the domain of blockchain and did the team over exceed expectations again?
In the past they were not shy promoting themselves for overachievements.


The probability of an exit-scam?  
Probably the team understood that they are already overtaken so far by SAP’s blockchain products, that their business model and strategy is not relevant anymore.
The next SAP TechEd will come soon and you can expect new announcements and blockchain reference customers by SAP…

PS: Why is SophiaTX not part of this consortium if the they are SAP&Blockchain?
https://www.arnnet.com.au/article/645479/sap-creates-partner-consortium-pilot-blockchain-based-supply-chain-tracker/
PPS: What happend to GE? Went bancrupt?

[Commivan]

I think soon the project will recover its price, because now SophiaTX is still much lower than the price that it deserves.

[z-LO-y]

I assume that not only SophiaTX will rise in price as more coins entered the market in the beginning of the year

[Chief__Architect]

In any other market they would be hauled off by regulators in hand cuffs.

For everybody feeling scammed I recommend to use this form:
https://www.finma.ch/en/finma-public/reporting-information/

Maybe they stop laughing at unhappy people when they are on the radar of the Swiss Financial Market Supervisory Authority.
Not the first time they got in touch with ICO's  :
https://www.finma.ch/en/news/2018/07/20180726-mm-envion/

[fq,frHUxP*joE]

The token-swap instructions were published a month before the swap took place on the official page. What's your problem, people? You put your money into some assets, then you don't even bother to check the project's page, huh? To check what are you actually putting your money in?

Crypto-world is all about zero-trust, that is, you can only "trust" the address you own. Yet, you store your funds on some shady exchanges that can have their own agenda and you don't even know if they will, from their side, support (means - have some necessary work done) yet another ICO swap?

Well, I dunno, my tokens were stored on my ETH address from the day of the TGE, I have had the swap steps done in time, and, as a result, I have my new tokens in place in the new blockchain. Have seen far more hyped projects that couldn't even launch their forks without a drama, while having all the code and tools already developed from the project they were forking. Compared to them, SophiaTX is running flawlessly.

[Chief__Architect]

Crypto-world is all about zero-trust, that is, you can only "trust" the address you own. Yet, you store your funds on some shady exchanges that can have their own agenda and you don't even know if they will, from their side, support (means - have some necessary work done) yet another ICO swap?

Basically you are saying that investing money in Blockchain projects is only suitable for paranoid nerds, who don’t trust any party in the Blockchain space?
As consequence there won’t be any mainstream or enterprise IT adaption then.

I would consider the token swap as failed :
•   Trading was not stopped on exchanges after/during the snapshot and swap.
•   People were told to keep their tokens on exchanges in order to participate the swap automatically
•   Unfortunately some exchanges did not participate and did not even know about the swap?
•   Currently funds are locked in the web-wallet? All exchanges locked the wallets, e.g. no deposit or withdrawals possible?
•   No public communication available when deposits and withdrawals are available again? No estimate, no outlook, , no transparency no nothing?

People go to SAP because they know how to handle upgrades, complex landscape transformations and core business processes.
If you consider a token swap as a core business process of a blockhain company, I would call this one a fail.

This is not how you qualify your company for large-scale Enterprise IT, by demonstrating excellence in execution.

[Greenmountains]

The token-swap instructions were published a month before the swap took place on the official page. What's your problem, people? You put your money into some assets, then you don't even bother to check the project's page, huh? To check what are you actually putting your money in?

Crypto-world is all about zero-trust, that is, you can only "trust" the address you own. Yet, you store your funds on some shady exchanges that can have their own agenda and you don't even know if they will, from their side, support (means - have some necessary work done) yet another ICO swap?

Well, I dunno, my tokens were stored on my ETH address from the day of the TGE, I have had the swap steps done in time, and, as a result, I have my new tokens in place in the new blockchain. Have seen far more hyped projects that couldn't even launch their forks without a drama, while having all the code and tools already developed from the project they were forking. Compared to them, SophiaTX is running flawlessly.

Name one other place where customers are required to check Twitter daily to protect their funds? Does your bank do that? Brokerage account? IRA? Pension? Amazon gift cards? Bullion vault? Bitcoin? ETH? EOS? Anything.

That's swell you got your new tokens as most people did but not everyone. Software projects seldom launch perfectly smooth. Some clean work is normal. The fact SophiaTX absolutely refuses to help people having problems speaks volumes about the type of company they are and the attitude of management towards customers.

Responsible companies protect customer funds. When is a problem they correct it. They don’t create poorly publicized hoops for customers to jump through so they can confiscate their funds. They don't give out incorrect instructions then tell customers to go get f'd. They don't change the rules after the fact.

The fact so many holders of ERC20 tokens didn't get the mainnet tokens is proof the swap was poorly executed. The company can deny as much as they want the facts speak for themselves. SophiaTX are incompetent and unethical.

[Greenmountains]

Crypto-world is all about zero-trust, that is, you can only "trust" the address you own. Yet, you store your funds on some shady exchanges that can have their own agenda and you don't even know if they will, from their side, support (means - have some necessary work done) yet another ICO swap?

Basically you are saying that investing money in Blockchain projects is only suitable for paranoid nerds, who don’t trust any party in the Blockchain space?
As consequence there won’t be any mainstream or enterprise IT adaption then.

I would consider the token swap as failed :
•   Trading was not stopped on exchanges after/during the snapshot and swap.
•   People were told to keep their tokens on exchanges in order to participate the swap automatically
•   Unfortunately some exchanges did not participate and did not even know about the swap?
•   Currently funds are locked in the web-wallet? All exchanges locked the wallets, e.g. no deposit or withdrawals possible?
•   No public communication available when deposits and withdrawals are available again? No estimate, no outlook, , no transparency no nothing?

People go to SAP because they know how to handle upgrades, complex landscape transformations and core business processes.
If you consider a token swap as a core business process of a blockhain company, I would call this one a fail.

This is not how you qualify your company for large-scale Enterprise IT, by demonstrating excellence in execution.

Exactly.

Companies are going to wait for a technically competent trustworthy vendor like SAP themselves. No professional IT manager is putting their job on the line by  going with some shady company.

I see it happening already in other areas. Big tech, banking, shipping, retail and government are developing their own blockchains. These poorly run companies are slowing going bye bye.

Most big companies have very deep tech talent and many projects are open source. They simply don’t need or want to deal with these little shitcoins and their crypto kiddie followings full of pump and dump Lambo dreams.

[Firespirit666]

It is so exhausting to read the twisting of facts of the two of you. Take responsibility for your own actions please.

I would consider the token swap as failed :

•   Trading was not stopped on exchanges after/during the snapshot and swap.
-> Yes, because some exchanges did not follow the instructions they received and agreed to execute. If an exchange decides to continue trading of a worthless token for whatever reason, the exchange (a totally seperate entity) takes the full responsibility for that action. If you press the buy butten on a DEX without properly informing yourself about what is going on with the project and not double checking via Telegram or other media when in doubt you take full responsibility in any case.

•   People were told to keep their tokens on exchanges in order to participate the swap automatically
-> Yes, which worked totally fine for all exchanges that were announced to support the swap.

•   Unfortunately some exchanges did not participate and did not even know about the swap?
-> Wrong. All exchanges were properly informed about the swap. Only Cobinhood decided close to the snapshot date that they didnt want to participate anymore. Swap for Cobinhood users is now performed manually and not a single Cobinhood user has had any issues with the procedure so far.

•   Currently funds are locked in the web-wallet? All exchanges locked the wallets, e.g. no deposit or withdrawals possible?
-> Partially wrong. Funds in the mainnet wallets are fully transferable on the mainnet. Deposits and withdrawals are closed as it is the case for any other token swap because the exchanges have to integrate the new blockchain with their system.

•   No public communication available when deposits and withdrawals are available again? No estimate, no outlook, , no transparency no nothing?
-> Again, exchanges are completely independent entities and responsible for the amount of ressources they allocate to certain tasks. The Sophia team cannot know the schedule and will not give estimates for work performed by external partners.

[fq,frHUxP*joE]

What they both basically talking about is that "we didn't do any research, don't know a thing about crypto and don't understand how the crypto-market works".

Meh.