about the sale of our ENV tokens and its subsequent trading value

Today, Julian’s (TenX Wallet , PAY coin) live stream made the story complete for me that I can not push it further, I have to write this post. I do not want to start a deep Tenx PAY coin analysis, but long story short, I personally believed in that project so much that I was invested in it. I used to say funny that I love that project and TenX is the number one ICO which I like and I do not sell my PAY coins even if I’m starving.

To be serious, PAY (the TenX’s cryptocurrency) in the first month had 7 to 8 times value regarding my original investment and the entire ICO investment was like heaven. Everything was awesome and everybody was happy. I did not want to sell it at that moment (I know it sounds silly). Later, the market was consolidated and many of the tokens were sold, the value dropped to 4x of my investment. It did not bother me, again. In a startup life, there are always pitfalls and TenX is not an exception. For those who do not know TenX, they have solved the following: purchasing by a regular a bank card for a smooth fiat currency (this is the usual currency for USD, EUR, etc.) while you spend bitcoin or other cryptocurrencies (ETH, LTC, etc.) on your account. To be more simple: you can purchase anything on your cryptocurrencies (and the rest of the world does not know anything about it because they only see a VISA transaction). It’s all nice and good, but there was some problem with bank licenses (I do not understand why it takes a long time, but governments and policies are always against development, because of bureaucratic systems, etc.) and TenX could not send out any cards outside Europe. There will be a solution soon, but how did the market react?

The value of PAY coins began to drop. All this happened after the token release when the coins are already on the stock market (Bittrex, Kraken, GDAX, etc.), and the company has no influence in the exchange rate. PAY has an independent life and has no connection with TenX anymore. Only on emotionally level. It is important how ICO is communicating, what happens around it. Many ICOs are not so communicative, and TenX is the standard for me: frequent social media communication, vlog, and live shows are regular. Julian is managing the whole thing very well. Anyway, the PAY value is now 2–3x of my investment. And? I will not sell it because I believe in them!

As you can see, it also turns out that some investors are already threatening the TenX team for why the PAY falls. This must be a joke! TenX is doing everything to do it well. The whole project is not a scam because I have a TenX card and I use it regularly … So what’s the problem? The fact that the ICO investors are not so mature enough to the whole investor world. Many of them just following the trends as a sheep the herd, but they do not understand the whole thing. Julian told them to sell PAY coins (not shares) and invest in other companies.

Perhaps this is why the term KYC (know your customer) is important, which an ICO wants to know who are their customers. If everyone buys without any beliefs or market insights, then this situation may arise. I believe that there are good ICOs on the market and they work hard on their topic, but please understand something: they can not directly influence the value of coins because the tokens have become independent.

The best answer was given by the Litecoin founder Charlie Lee when he already received life-threatening messages from people, who owned LTC coins:

Let me respond to all the criticism. Let me start off by saying that this post will likely piss off many of you. People bought LTC and are part of this community for various reasons. Everything I do or say will upset some part of this community. And I don’t really care to be honest.

If you have been following Litecoin for more than 3 years, you will know that Litecoin is boring. I would be lying if I said it wasn’t. Litecoin, for some unknown reason, is always very stable with USD. I have no idea why, but it is this way. Whenever Bitcoin pumps, LTC/BTC crashes, and that makes it stable with respect to USD. Whenever Bitcoin crashes, LTC/BTC goes up a bit. Some for 99% of the time Litecoin is really boring. It stayed around $4 for like 3 years! And it pumped to $50 and now seems to stabilizing around $45. Bitcoin can go to $5000 tomorrow and I wouldn’t be a bit surprised to see Litecoin stay at $45. I believe in the future, LTC will go up in value. Maybe the next time, it will go to $400 in a few months. No one knows if or when that will happen. So the key is to be patient and to Hodl. Long time Litecoin supporters know this, and those are not the people that are crying foul today.

If you expect me to pump LTC to make you rich, I am not going to do that. I do not work for you. You are not investing in a corporation where I am the CEO and I work to make investors money. This is not how decentralized currencies work. If you don’t appreciate that and don’t like it, then please sell your LTC. Your investment into LTC does not go to me or the Litecoin developers. Litecoin will succeed if people invest their energies into Litecoin. Just buying LTC does nothing. So if you don’t like the direction of where Litecoin marketing is going, do the work and help market it the way you want. Don’t expect me to be doing that!

My vision for Litecoin is always silver to Bitcoin’s gold. That’s not going to change. I will be touting that whenever I can. I see Litecoin working side by side with Bitcoin to address the need for decentralized currency. I hate to break it to you, but Litecoin will never overtake Bitcoin. Bitcoin will always be the king. No matter how much I want that to change, it’s not going to happen. And I am fine with that and will work towards a future where both BTC and LTC are used my everyone. If you believe that’s wrong, that’s fine. Go tweet about it as much as you want and go on CNBC to say that. I’m not going to do that because I don’t believe it to be the case.

I’ve said this before and I will say it again. Ask not what Litecoin can do for you. Ask what you can do for Litecoin. Go forth and make it happen. This is a decentralized currency. You don’t get to sit back and enjoy the profits from other people’s hard work.

Sorry if I upset you, but I won’t change. 🙁

Source: https://www.reddit.com/r/litecoin/comments/6s9fct/my_response_to_all_the_criticism/

Why am I writing all this? Because if we launch our ICO, the same could happen to us. No one can guarantee a price, but we can promise that we will put the maximum effort to our job, and we hope that our coins will be owned by the right people who will be in love with the project as we do. Market value is a thing, faith and trust is a different one.

I wish everyone a pleasant week!


Source: Envienta Open Source Everything

About The Author

Editor of ENVIENTA News Channel & Manager of social media channels

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