I have seen a lot of negativity on the bulletin board and would like to share my experience as someone who has actually been using it as a (savings) bank account.
I initially placed £50 in the account when I first was able to open it as a beta tester. This occurred on the 27th March 2019.
Today’s value = £73.54 (100T = £4.77) +47%
Had I placed this amount in any of the leading banks the best return would have been circa 3% - This shows the true value of Tally, whilst I understand favourable conditions have been responsible for the returns I have seen - this truly is a fantastic was of investing in gold but having direct saving to spend it if the time arises. Personally I wouldn’t transfer all my banking to this card as I mostly use an Amex (points collector) but any saving I’m considering moving into my Tally account.
The value of gold can and very likely will drop back to 1,400 or 1,500 usd . oz once the hysterical media gives it a rest and people get back to normality. The current value of tally is as inflation hedged savings and convenient travel funds at interbank rates. I really don’t understand why this core message is not being rammed home with good marketing or PR (which should cost very little if done in house). Instead I see confusion about what this product is actually for. I hope this can be resolved asap or Tally just won’t get the user numbers to make a viable business.
Exactly, the situation is very circumstantial but the bull run is not going to stop for foreseeable future especially as tensions rise between the US and China.
Personally, I think they should be marketing this in house. I’m speaking positively about it whenever I can but really not going beyond that as I’m not being incentivised to do so. 1000T and I’ll happily spend an hour putting together some PR for social media and distributing it.
Monzo went crazy as they had a a young customer base and a unique selling point. Tally has that, just needs the app to have the same functions, customer incentive, ease of transactions between friends, split bills etc
As a payment method. If you can get a million customers signed up to a single method of payment, then you eradicate different banking methods etc. Not saying it’s an action to do today, just a method of expanding customer base away from conventional banking.
That’s the problem. The current target market is not consumers is the investors, get people who are spending to start using it on a daily basis and it will sell itself.
Get the younger generation hooked and they will be life long customers.
Yeah that will help. I don’t see why they wont relist, it helps them promote the business, they are sat on an asset that justifies half the MC (30m assumption) and the need for an alternative to crypto and fractional banking is becoming more and more we evident by the day.
We have had a lot of private equity come in since delisting, they will be high net worth individuals who are not doing this out of the kindness of their hearts.
I think we should have a resolution at this years AGM, that if @cameron-tally gets us listed in 2024, the loan he took is written off for free.
There is something ironic in the fact that over the course of this investment that the gold price when I but the initial amount in was ~£1,000/ounce.
Today this is valued at ~£2,000/ounce.
What is my Tally balance? Considering I have not spent anything during the entire time…Apparently there is less than £3 in there?
Next step - log in to the account, have got a new phone since then so haven’t logged in on it. Now need to wait up to 48 hours for my own account to be accessed?! Jeeeez no wonder the new customers list isn’t growing.
For comparison, I set up a Revolut account a while back, verified within an hour and had added some funds within the same hour!! This is shocking how the “viable” product is performing.