TenX — Why is Price so Important?

https://www.tenx.tech/

After missing out on the TenX ICO, I was a bit bummed because the overall vibe I got from a very quick look at the team was great — site looks legit, white paper fine, and the card looks fresh. After the ICO, the price dropped a solid 40% from its open price. Today, you can cop some PAY tokens for just $0.65 — a GREAT sale if you ask me, but why is the team so worried about price?

“TenX PAY — a price analysis based on facts”

I’m an investor and major supporter of TenX as of a few days ago, but the team is making it very clear that price is a major problem and I’m unsure why. They gave a discount at ICO — a lot of people dumped for the profit — just how investing works.

I came across an article written by someone on the TenX leadership team and you can tell they aren’t feeling too hot with the price drop — maybe a bit defensive. Many people would rather get in on these ICOs at the outrageous 20%, 30%, 40%, 50%+ discounts because it’s a great price, but the leadership team behind the ICO is not realizing many investors are in it for the short-term ICO discount gain, dumping tokens on the market immediately after hitting exchanges.

https://www.tenx.tech/

On the other hand, a dumping or pumping of token price post-ICO is a great indicator of:

  • how well the ICO was structured
  • how well the ICO strategy was implemented
  • how engaged & healthy the community is
  • product/service validation
  • community trust in leadership team
  • how well the message was crafted & delivered
https://www.tenx.tech/

Instead of focusing on price analysis, why not focus on product and service?

On an episode of The Cryptoverse, the host, Chris Coney, explains how important it is to set the expectation for customers/users. TenX did not explain how their card worked clearly enough. Meaning:

  • the card can only be used with Bitcoin right now
  • only Androids can use the app unless you download an emulator
  • don’t give a discount to investors….
https://www.tenx.tech/

Giving a discount to investors can hurt ANY startup — who wants to gamble on something that is not proven when I can gain instant 20%? The fact that the app does not work on iOS devices and the card can only use Bitcoin….really? I mean, I LOVE the fact that TenX gives .5% of volume processed to token holders as a dividend, but this has been implemented in other cards like Monaco too.

If your coin is being dumped after your ICO then it is likely your community is weak and does not see the value in your ecosystem and/or you targeted the wrong investors who only invested for short-term profits associated with the discount. Hope this helps entrepreneurs interested in using ICOs in the future — this is an innovative approach to raising capital and the TenX team did AMAZING — just realize how important it is to align priorities with community communication.

Below are some resources for beginning cryptocurrency enthusiasts or others interested in something new:

  • Cryptoversity by Chris Coney — The Online School That Pays You To Learn About Bitcoin, Crypto-currencies and Blockchains
  • HitBTC Exchange— major exchange, access ICOs and multi-currencies.
  • CoinTracking — Your personal Profit / Loss Portfolio Monitor and Tax Tracker for all Digital Coins
  • Changelly — as easy as purchasing cryptocurrency gets — watch the exchange rate.
  • CoinMate.io — Bitcoin arbitrage made easy.
  • CEX.io— Buy Bitcoin w/ credit card, ACH bank transfer, SEPA transfer, cash, or AstroPay. Credit purchases are instant.
  • CoinPayments — Receive payment via 70+ different cryptocurrencies — the crypto-PayPal.
  • CoinMama — purchase Bitcoin and Ethereum w/ credit/debit cards & using cash through WesternUnion on their platform.
  • Ledger Nano S — multi-cryptocurrency cold hardware wallet supporting Bitcoin forks. Keep your coins safe and offline.
  • Binance — 135+ cryptocurrencies with its own token used to pay exchange fees on the platform and give perks to traders on their platform.
  • Kucoin — new exchange with its own token used to split exchange fees with holders, daily. Only exchange with NEO trading pairs too.
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