stellarowl12 posted on January 25, 2019 16:46:40
So this was one of the most respected and hyped projects actually. They initially had a crypto debit card which everyone in the crypto space wanted. But after it was in circulation for a bit they got cut by Visa I believe and then there were no more cards. They also worked on a few other things like the COMIT protocol but I'm not sure if those ever got released or took off...
Finally their loud and public co-founder Julian Hosp recently left the company in Jan. 2019. This could be taken as good OR bad but I think it's bad. If he wasn't taking the whole thing seriously or wasn't equipped to lead the company then they never should have been where they were before....
Dr. Doom posted on December 19, 2018 18:32:05
Sold out in 7 minutes their ICO. Seems like the only function of the PAY token was to raise the company funding. They did ship the promised cards, but because the card provider was blocked by VISA, their cards became useless. Many promises of new cards coming, yet not delivered. This has frustrated a lot of investors and indeed this is not a positive sign. Julian Hosp as leader and spokesperson for TenX has been discovered as an active promoter of an alleged pyramid scheme Lyoness, however he has openly distanced itself from it and claims it was a good learning experience to guard against scams in the crypto world. I would give him the benefit of the doubt; it would have been much worse if he was from Lyoness management. One of the technical projects that TenX develops on is COMIT Network that should allow for cross chain transactions, and recently there has been the first success: "At the December 7, 2018, TenX Summit, a group of developers showcased an industry first: an atomic swap on the Lightning Network between a non-native asset, TenX’s PAY token, and a native asset, bitcoin." (quote from bitcoin magazine). Overall I think TenX is one of the more legit projects out there, but considering the disappointments from the past year since ICO, I have just a few tiny reservations about it, which is why i vote this as slightly shady.
Crypto Anonymous posted on December 16, 2018 22:12:43
This was a very successful and promising ICO back in 2017 that got off a decent start, partly fueled by the 2017 bull run and ICO madness. The team, with Julian Hosp as visible leader of the project, always seemed serious and genuine in their efforts to become a successful crypto business. One of their key features was a VISA card that could be loaded with crypto balances. They actually shipped a lot of cards that have been used by many clients. However the project got into trouble when their card provider was ordered to stop services for European clients and their cards project grinded to a halt which was a major setback. They then pursued a banking license to become a crypto bank, but unfortunately I don’t know how that turned out or how far this process is. The project fell more and more into the background and likewise the TenX token fell lower and lower on Coinmarketcap. The token was supposed to be used for fees for transaction that are done using their services and I believe a profit sharing was part of the deal for token holders. Personally I don’t believe TenX is a shady project; I do believe they genuinely try/tried to make it successful, however I worry that it might be a dying project nevertheless.
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