Plant in a clear coin jar

PHT-PHGT-FONE


       In the past I've written about a company that has been running a website along with corresponding apps for well over 2 years now I believe. Up until around December last year they were PHT Phoneum which was built on the Tron blockchain. They had even just created a subsidy of that crypto which they called PHGT. However, around December they switched to a crypto they call FONE which is on the Solana blockchain.

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       I say I believe and I think on the timeline because I wasn't actively still using the apps when they made the switch. So I again was caught pretty off guard when I logged back in and again everything was being switched only this time in a much bigger way then just going from PHT to PHGT. I assume the change in blockchain was done because of the rising prices for everything on the Tron blockchain. The Devs had been promising to lower the cashout amounts for awhile and in order to do that they may have felt they needed to switch to a more cost effective chain. And at that point the hype and excitement about Solana really drove everyone and everything to it. People are looking for a more effective blockchain and many were hoping that Solana would be it. And it had the potential to be unfortunately as we all know there are errors in the coding. Some really big ones. Perhaps what is more concerning about that situation is the more recent decision made by the community (supposedly) to basically drain a whale's account of all its funds. Essentially a repossession of sorts.

       However, the Devs of this project had no way of knowing that initially when they switched chains. So I'm assuming they did so with the best of intentions. No one wants 50 ads to power an app and very few want to spend $60 a year to get rid of them. I've said this before I'm sure but funding HAS to come in for any project to be able to do anything. So in the event that prices are rising, more complaints are coming in because of the additional ads, and fewer subscribers more then likely were the factors in changing blockchains as well as the TRON blockchain raising its transaction fees pretty significantly.

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       I do think they should have given users a heads up. I'm not condoning nor excusing the poor thought as far as 'hey, our users should have a heads up.' To be honest, with all the negativity that they were likely trying to cut back on I doubt it even occurred to them that anyone would dislike the change. Of course, where there are humans there will be people who don't want change and fight nature. That's generally what we do. But once I got over the change that was forced upon me and my just getting used to their newest setup; I also agree a change was a good idea. I do not agree with the blockchain selection however that belongs in a different article.

       As of now I know that their ratings on the google play store has dropped since everything that has happened. They still are helpful with deposit issues when you have them. For some reason, transferring your balance from one app to another almost always warrants an email to them so that it can be confirmed on their end and therefore go through. This would make some wary and I understand that. However, every time I have sent an email regarding that it is always confirmed and fixed as soon as I talk to someone. They are also pretty quick to answer. Usually I always receive the first contact from them within 24hrs of me sending my email. Sometimes it takes a few back and forth just for clarification purposes but honestly as long as it gets done in a timely fashion from my initial contact email I don't mind that. Obviously, if this would bother you I wouldn't bother with the apps. However, I think it does show that the Devs are genuinely still trying to make their little ecosystem work.

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       They do still have all the apps they used to have. There are 7 but only 6 of the 7 I wanna say work. I suppose it could be my phone for whatever reason just isn't jiving with the 1 app but it seems to perpetually say that it is being updated or fixed or is just temporarily unavailable. Although I did just check for the one that doesn't work and it isn't listed on their website anymore as even an app of theirs so perhaps they've just abandoned that one altogether. There is Crypto Planet, their Cloud Earning app, their newest GreenSpace app which I don't use, Crypto Cards, Crypto Treasure, Green Karma, and then there is also the Crypto Connect Three which is the app I think they likely just abonded. 5 are apps I use fairly regularly, 1 is likely abandoned, the other one GreenSpace just doesn't appeal to me personally.

       Recently, I left a review for their one app I think it was the mining one and they indicated that soon all the apps would share the same wallet. Which is going to be a really nice upgrade to their system. I always wondered why it wasn't set up like that and it will completely eliminate the need to contact them everytime you want to move FONE or whatever from one app to another app of theirs. So I am looking forward to that as long as it happens. 

       I also want to add that given the most recent issues with Solana I would not be at all surprised if all 12,000 some holders open the apps and just find that all their Fone has turned into a different currency. I honestly don't mind so long as the value is kept. The current value of Fone as listed on CoinGecko is 0.00001489 as of the day I am writing this which is 7/8/2022. I have read a few negative reviews from people that say Fone is worth a lot less then PHT. As of 7/8/2022 PHT is worth around 0.00001070. So Fone is worth more then PHT was as of right now.

       As always, in the end how you feel about all of this is up to you. I can only put down what I have experienced, my thoughts and opinions.

None of this is financial advice and you should always do your own research and form your own opinion. Never invest anything you can't afford to lose..

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Emi1617
Emi1617

Hi guys, I'm Emily, I'm a mother and entrepreneur at heart. I'm young but I've been through all walks of life and have experience in cryptocurrencies as well as affiliate marketing, blogging, advertising, and direct sales companies. I like to stay busy.


The "Ooo it's Shiny" Effect
The "Ooo it's Shiny" Effect

As I learn more about different cryptos I will put up posts about them and likely good wallets for them here. I know everyone is hyped about bitcoin (I'm one of you lol) but I always find learning about new cryptocurrencies interesting and few have caught my eye beyond the "ooo it's shiny" effect. So, I'm on the search for one that reaches me more personally.

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