TES / TeslaCoin


April 04th, 2017 – Version 1


Definition from the SAFEX Website

Teslacoin was birthed as an ode to the often forgotten electrical genius Nikola Tesla. Most things you use today came to be as a result from his many inventions. Teslacoin is working towards a decentralized and sustainable world supporting Free Energy and Renewable Energy Projects. Mission: Accelerate the transition to a sustainable energy system by funding Free Energy and Renewable Energy projects though TeslaStarter.

Vision: Let’s decentralize the Energy System!!

Community Enthusiasm – 1 out of 5

  • There is no Slack.
  • There was nobody in IRC when I signed in.
  • The Project Team is Occasionally active in Bitcointalk.

Active Development – 2 out of 5

  • The devs are working in the background, slowly.
  • Cryptopia was on the wrong fork for a while without it being addressed.
  • I am potentially wrong on a score of 2.  There might be a little more than I have been able to find out about happening.

Exchanges – 3 out of 5

Price – https://coinmarketcap.com/currencies/teslacoin/

  • Traded in January and February 2017 between 100 and 150 sats.
  • Price moved up in March and has fluctuated from 200 to 300 sats since.

teslacoin price

PoS Wallets – http://tesla-coin.com/index.html#service

  • Windows wallet is currently being fixed
  • No MAC wallet
  • Linux available


April 3rd, 2017 Summary

In the past couple weeks there has been some enthusiasm about updates in Bitcointalk, but there is just not enough information shared with the community on what to expect.  I believe it is going to be a crowdfunding platform for energy projects. That hypothesis comes from one small statement in their meager roadmap, and I have not found any more of an explanation than that.

The Bitcointalk page needs some work. It is very amateurish with spelling errors. The link to the website on BCT is about the size of a small coin and very difficult to locate. The new website looks good, but doesn’t have any links to any details. It is very vague. A video on the website with words flying all over the screen, sometimes faster than they can be read, attempts to explain the motivation for creating the coin.

On the pro side, a PoS wallet with a 12% yearly payout is very high.

My recommendation…

I think my main issue with TeslaCoin is, while I have some idea what they want to do, I have no idea what their plan is to achieve their goals… and I don’t have a way to talk to someone to find out other than leaving questions on Bitcointalk and waiting to get an answer. I don’t think it is a scam, I just feel like they don’t have the necessary experience with the process of creating a viable currency to make it work any time soon. There is very little information, so I could be wrong. They could be in the background coding like mad and just about to release an amazing product. I don’t know.

A community expects regular updates and to know how a project plans to attain their goals. I feel like if the Core Team communicated better and provided regular updates people would be more likely to want to be involved. When a coin is small they have to try even harder to provide the information the larger coins give, but if they do, and they don’t have anything to hide, they instantly become a hidden gem. That might be all the TES team needs to do to convince me to buy, but for now I am going to search for another coin to invest in.