Petition to restore TFX tokens to minimum USDT value with immediate effect

Petition to restore TFX tokens to minimum USDT value with immediate effect / Announcements / Response by TriumphFX management 18 Jan 2023 / Comments

Stunned

#26 What kind of explanation?

2023-01-18 11:33

Well done to all fund managers who generated good profit!

But Triumph FX created a system that drained most of the profit. Down it goes into the drain.

Integrity is far more valuable than success in making money.  If people are losing confidence in the integrity of Triumph FX, then TFX has started to make losses.

 

 

 

 

Ivan Yeo

#27

2023-01-18 11:39

Take this as a lesson.

Don’t get involved in any Ponzi scheme, it will hurt the society as a whole.

Any Ponzi scheme diverts funds from many people to few scammers. They probably move those funds overseas already. Pity those old people who lost their funeral money or wanting to leave some legacies to their descendants.

Scams will continue as long as victims continue to support.

Destroying a good thing

#28 Get Rid Of TFX

2023-01-18 12:36

The decision to convert to TFX is a clear example of greed and lack of respect to all investors. Especially that no consultation or approval from investors was sought, or at least not from those that I have spoken with. There are clearly only 2 options here:

1) Abolish TFX and go back to USDT to restore the 1:1 realtionship with USD.

2) Make TFX a 1:1 relationship with USD in a similar way that USDT do by having the capital available to back the valuation. 

Triumph should put their money where their mouth is instead of playing foolish games with investors money and livlilhoods before its to late and we all (i.e. investors) go down. I am sure Triumph will come our unscathed as they have no skin in the game.


Guest

#29

2023-01-18 12:54

Fundamentally with an exchange it is bound to have supply and demand. That is the principle of trade within an exchange. However the larger problem is the valuation apart from those disposing at early stages. Allow me to comment further. I hv brought up a concern within the 1st week of TEX launch, when the TFX value dropped more than 30% (from the supposed USDT1 to 0.65) within the first 5 days of its launch. Back then, I had put forward a concern on this however there was a response from the top level management that it was cost efficient to purchase tho it was declining; in short apply cost average, buy low, get more coins and wait for it to rise. Honestly, I am aware of that; being a seasoned investor and certified financial planner I dont need to know what I already know. My concern was far beyond that. Now let me say this - the TFX coin do not carry (at this moment) the right weighted value against USDT. For one, USDT is pegged to USD, almost 1:1 (with 0.002% fluctuation) . For TFX coin value to rise, it requires the fundamental worth and worthy in its weighted valuation. Just like a country's currency against USD / Euros / GBP. So meaning if the country's wealth, economic fundamentals, etc, etc, etc is not worth the right weight, hence the value shall further decline against the stronger currencies. It is fundamental knowledge. Todate, the price of TFX is determined by the trade (selling and buying) just like any stock trade. If there are more buyers, the price will hence rise. If there are more sellers, the price will decline. In summary, there is more than what meets the eye, not just the no of investors (as in how many) and the $$$$ amount invested. So to sign off, I have 1 final question - what do you think is the real value of TFX coin against USDT ?

Guest

#30 Re: Get Rid Of TFX

2023-01-18 12:59

#28: Destroying a good thing - Get Rid Of TFX 

 I'm sorry to say, but do you really really think they give a hoot about whatever investors' money they have a firm grasp on or yours or anyone's livelihood? Personally, I don't even think the Exchange is real, and has been built by them to allow for manipulation of the price. Think about it. Have you ever seen an exchange that's built on loose sand the way this one is? 


Anonymous

#31 TFXI has clarified two things

2023-01-18 13:03

Their response has clarified the following two things-

One: TFXI has no intention to disappear or vanish. They will continue to exist so that they can continuously earn big money out of investors hard-working money.

Two: TFXI has no intention to make any changes, let alone improve the BS coin settlements.

They clearly stated saying that "TFXI management will NOT do anything, you losers!"

I have made a desicion what to do based on their response. 


Guest

#32 Buy TFX

2023-01-18 13:03

In all honesty, I'm quite surprised that anyone is buying new TFX to be honest. I'd stay away from it with a ten foot pole. What is this coin backed on? It's not backed by any technology or anything fundamental. So really, who's buying this shit? 

Writing on the Wall

#33 Re:

2023-01-18 13:26

#25: -  

 It looks like investors fate are sealed. The response from TFX management clearly shows that they cannot do anything to even raise the value to 0.8. All they did was offering lame excuses and meaningless assurances which means nothing to us! The writing is already on the wall!

Great scam

#34 Re: scam

2023-01-18 13:27

scammers normally start off by giving out goodies. They they spread their net by roping more into the net. Once all the catch are in that where it gets interesting. I smell a rat. 


Guest

#35 Re: Re:

2023-01-18 13:30

#33: Writing on the Wall - Re:  

 It has been on the wall from the moment they decided to experiment and move towards this "new" future. Anyone who is still in this thing or thinks that they can get their money back is seriously delusional. Good luck!


Guest

#36

2023-01-18 13:50

Hi, as you have mentioned, there must be more demand than supply for the coin price to go up. Can the $10 million daily fund be used directly in the exchange? We can see there are hardly any trades in the exchange, and there are less than 5m coins on both buy and sell trades. If you purchase $10m daily, the price should go right up. The trading volume is only about 1 million. Once the price goes up, investor confidence may regain, and there would be less selling pressure. Alternativley pls remove the exchange and provide a peer to peer OTC exchange. Everyone list their coins for sale. Those who wish to buy will buy it at $1 form the exchange. This way, there is no way to sell the coin at less than $1. THe company act as the escrow agent. The buyer puts in an order to buy $10,000 worth of coins. Seller escrow 10,000 coins. Seller account sends to Buyer to collect payment. The seller confirms the money is in. The company release the coins. With regards to matching who with who, the company can have a mechanism to have first in first out but for a huge amount, perhaps include the mechanism to break down to multiple sales. Privately, we can still sell to our own community using the escrow service. Is the above possible?If not remove the exchange till confidence is restored will be best.

Guest

#37

2023-01-18 14:37

From my perspective I believe the limiting of daily coin settlement per person would go along away to having investors become a little more patient as they can then withdraw sufficient funds or thereabouts I.e $1000 per day much like the bank limits TFXI pay out with a limit on daily pay out it should help the confidence levels.
Samei

#38 Re: Ponzi / Money Game burst?

2023-01-18 15:04

#24: Ponzi investor - Ponzi / Money Game burst? 

 It is not bursting. I m still hopeful, so have I invested a lot, havent started withdraw back capital yet.

I think they need to get some extra help n increase the daily buy back amount. 


Guest

#39 Re:

2023-01-18 15:18

#37: -  

 FYI, NOBODY has ever received their full buyback amount (or at least i don't know anyone who has). I only know of one person who was successful at selling 1000TFX, but they only bought 80TFX of the 1000TFX. The rest of the 920 was transferred back into his account. What logic is this, I do not know. 


Guest

#40

2023-01-18 15:34

The reply is not solving any problems. I submitted my "coin settlement" request almost everyday, but it's all failed.

Guest

#41

2023-01-18 21:37

Confidence is the key to drive the TRX value up it is true, but frankly, the management of TriumphFx, this should not have anything to do with our being able to withdraw our capital. Having said that, I do understand this is a difficult time globally and with this new implementation theres bound to be FUD, but I still choose to believe the company is doing something for the better and greater. For whatever reason that the company needs to hold the capital, we can wait with you while keep building the business as long as the FMs are achieving good returns. However, there really should be some sorts of fair way for everyone to withdraw a certain percentage each time. I hope the company would at least understand everyone has a basic need from their return on investments. Finally, I hope people can be calmer and try not to be so angry. This will only make things worse. If they really wanna take our money, really no need to spend so much money time and effort to create TEX, TRX and videos to inform us. Everyone should stop selling at such low price. But then again, the price can be driven down maliciously by some people who want to bring TriumphFx down. While we should give the company more time, I still hope the company to be more vigilante in monitoring the development of TRX. I believe CFD trading will be the hottest industry in the coming era (10-20yrs), and TriumphFx is going to be one of the best platforms to join.

Guest

#42

2023-01-18 21:39

Don’t use Bitcoin and Tesla for example and excuse, those investors are willing to risk by themselves, there for it’s their choice, their decision. But TFX BEING FORCED ONTO THEIR INVESTOR from different investing pools. The investors have NO CHOICE!!! So actually it’s cheating and illegal.

Guest

#43 Re: Buy TFX

2023-01-18 21:45

#32: - Buy TFX 

 You are right!

X2

#44 Re:

2023-01-19 00:26

#5: -  

 Agree


Anonymous

#45

2023-01-19 00:38

Since the start til now my problem still not solved. I has been putting support tickets to tell the support team during the glitch the system has eat up my canceled buy order and not refunded the USDT back to the account. A simple verification and action can't be done. But they are quick to reply this.. You tell me.. What future?


Guest

#46 Re:

2023-01-19 00:45

#45: -  

This is what happens when an investment company pays two high school students peanuts to code a crypto exchange in-house with capabilities for price manipulation. I mean, seriously, do you know ANY other exchange that is as poorly developed as this?  Why don't you just spend some time to look at some of the transactions there.. You'll see a lot of transactions selling 1.00TFX.. I mean, really? Do the math here, guys! Who would want to sell 1.00TFX???? It just doesn't add up!! Are you people seriously so blind? 


Guest

#47

2023-01-19 01:02

TFXi did not ensure that investors fully appreciate the risks of conversion to TFX and as a result investors never had the opportunity to assess and pull out before the launch. And, now the company is asking that we lock our investment for an indefinite timeline. To build confidence in the short term TFXi should provide investors the option to exit and refunded at 1TFX=1USD.

Guest

#48 Re:

2023-01-19 01:43

#47: -  

Don't fool yourself, my friend. If they gave you time to assess, over 90% will withdraw and run. Ponzi schemes don't give "investors" time to do this because they don't have the funds to pay everyone out. The biggest joke is that people still believe the exchange TEX is compliant and genuine. 


Guest

#49

2023-01-19 01:48

Is it possible to disable the prevailing price option? Allow only to sell at limit price and set default limit price to $0.80. Price can only be adjusted upwards and not lower than $0.80.

Guest

#50 Re:

2023-01-19 01:53

#49: -  

Obviously this is possible, since they very obviously developed the exchange in-house and have full control over the code and functionality. But if you were them, why would you want to? The answer is simple. Because they can't pay everyone out at $0.80. This is a ticking time bomb. Get out at $0.27 while you can.