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RE: What the hell happened to TenX ?
The problem with TenX is that there are only 10 million users of crypto worldwide. Even if all of them started using TenX cards, that is still a relatively small market to draw dividends/transaction fees from. I did the math at one point, and I came to a token price of about $3.50 based on a very positive scenario. Compare that to OmiseGo, which also pays dividend based on use, but which has an existing customer base of 50 million (I think? don't hold me to that) as well as building a DEX with loads of transactions on top.
Add to this that there are more and more competitors stepping into the payment card space, and of course the ever present risk of 'What if VISA starts doing this themselves?'?
I think its a lot more than 10 million today. Coinbase alone has 10,500,000 clients! I think 20mil+ might be more accurate. But in 2-3 years, we could be looking at 100+ mil users. Maybe even up to a billion if India starts embracing cryptos. The growth potential of the crypto space is staggering.
on april 12th of this year this article was published on bitcoin.com: https://news.bitcoin.com/how-big-is-bitcoin/
The end conclusion is that roughly 10 million people worldwide hold 'a material amount of bitcoin' meaning, more than just a tiny tiny bit.
I'm sure by now that could be doubled with all the hype going on, so, sure, 20 mil is reasonable IMO. Still, the majority of those people are in my opinion not likely to start using a TenX card. TenX is more for the hardcore crypto believers and enthusiasts.. people who made and hold a lot of wealth in crypto. Not people who hold their crypto on a coinbase account or something like it.
I agree with you that we could be seeing 100 million users within a reasonable timeframe, but the fact remains there is no way to know if TenX is going to snatch all of these up, or somebody else will. There's Monaco, Centra, etc. already competing in the space and I'm sure existing companies like Visa will respond. You mention India, and I'm not sure about the local situation there, but in south east asia I've heard it said that they actually don't use cards at all anymore.. They consider it outdated, and most payments are done through mobile phone payment systems. Perhaps that is the future of those 100 million users? Who knows.. exactly that uncertainty is probably part of the reason why the price of TenX isn't mooning.
Don't get me wrong I love TenX and want a card for myself eventually, and I am sure many crypto enthusiasts will want one too. But without millions upon millions of daily active users, the dividends are just too low to warrant a higher price.