TX / Transfercoin


April 5th, 2018 – Version 2


Definition from Core Team Member @alberto in Slack

As crypto-currencies make their way into the mainstream society, privacy is an increasing concern. We aim to provide an end-to-end privacy solution with our multiple integrations of stealth techniques, as well as focus on merchant adoption & community growth.

The Decentralized TransferCoin Network aims to be a fungible and untraceable digital medium of exchange. TransferCoin is a cutting edge p2p digital network. Transactions are super-fast at just 60 seconds per confirmation.

Community Enthusiasm – 2 out of 5

  • The Slack is nearly abandoned with 770 members.
  • The Bitcointalk thread gets messages posted about once a day.

Active Development – 2 out of 5

  • There do not appear to be any active devs for TX.
  • There are no written documents detailing plans.

Exchanges – 3 out of 5

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

  • Traded until mid-March 2017 for between 800 and 1000 sats.
  • Price has been volatile for the last year, fluctuating between 10k and 20k sats.

transfercoin price

Wallets – http://txproject.io/#wallets

  • Windows wallet
  • MAC wallet
  • Paper


April 5th, 2018 Summary

I come up with new ideas for coins to review from many different places. You are probably familiar with PIVX since it is arguably the most successful new coin in the last year. In April of 2017 I went into the very active PIVX slack #trading room and asked the question, “What do you guys think is the next PIVX?” Their answer: TX

That was a year ago. A lot of improvement was made throughout 2017, followed by a lot of disappointment in the first few months of 2018. At the moment it is hard to tell if everything is on hold, or if everyone has just moved on to other opportunities. The lead developer, Infernoman, went to work on Crown (CRW), and is now handling some personal issues according to his last statement in Slack.

TX implemented a really cool Cross-Send feature into their wallet allowing you to easily convert TX to BTC, and then send it to anyone accepting BTC payment using the Bittrex API. They also have working Masternodes now.

My recommendation…

When I first reviewed TX in April, 2017 I made this statement…

“If you are into taking risks, this would be an investment for you. TX is so far from being ready for primetime, it could just as easily be abandoned as completed.”

I can’t even tell you now which of the two it is, ready or abandoned. The Cross-Send feature is so good it should be put in every QT wallet, which would make any coin able to be spent as if it were BTC. The price still reflects the progress made, and not the complete lack of communication and active development.

This statement was made in Bitcointalk on December 14th

“TX has no devoted dev at the moment.  The dev who took over TX is Infernoman.  Infernoman is very good and got recruited by Crown a few months back.  I have also seen he is helping with another project to help get it on it’s feet.  I think people can feel free to help TX, but Infernoman is still holding the keys.”

I think that leaves us in wait and see mode. I think the price is way too high for the current state of things, and if it continues as is, we should start to see it fall. On the other hand, if Infernoman, or someone else picks it up, the current features alone should make it an easy turnaround candidate. You will need to pay close attention to what is happening before buying any TX.