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It seems weird that devs have 67% of the tokens.
They don't. They have 33%. The other 33% is company reserve |
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Bad news
Dev just transferred out another 408k tokens few mins ago, making it a total of 908k tokens almost 10 % of previous circulation .
This amt is way too much for liquidation purpose.
Pls expect a huge dump anytime
Bcos thats an average of 125k tokens on exchanges.
thanks for the great info, i bought some 50mco and sold them at 0.001  lucky i got out but the kids here still believe it will hit 30$  but let them loose money, i dont have a problem with it otherwise no one would buy my tokens on the top  Haha! You jokers! Lets remember that Monaco has a TOTAL supply of 33million tokens and that includes the founder tokens that they haven't even touched yet. That's just a third of the CIRCULATING supply of TenX (100million). Yet TenX market cap is over 2 and a half times that of Monaco's at the minute!!! You still think that 1 million tokens (likely planned for something big - wait for Q&A tomorrow) is going to have a big impact?! C'mon now boys... |
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Here will be a lot of tears and snots. The one who changed the rules once, will change the rules a second time. This token is for speculators, but not for investors.
What drivel is this? I assume you're referring to them removing the asset contract? A removal that has resulted in a 50% gain in the token price as they list on 4 new exchanges, whilst one of their competitors (TKN) get delisted at a loss of 50% of their token value? Hmmm, some would argue its forward thinking.... Furthermore, look into the new business model and think about its potential. Lock-up of tokens will reduce the supply at the same time that the token demand is increasing to reserve cards. This will drive the price. People will then report how much money they made whilst holding MCO during the lock-up period. This in turn will drive demand... This isn't even accounting for the replacement asset contract and further token utility that they are looking into. Anyway, a great day for Monaco and a good time to be excited for the future of the project. I hope one day soon, Monaco will be THE way to buy/sell/spend bitcoin. |
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Hi guys,
Have any of you heard anything about a link with Monaco (MCO)? I'm heavily invested in MCO, and there was a lot of discussion in the Monaco slack about how a large sum of MCO was transferred out of the reserve account into an address that mainly contained EOS? Furthermore, one of the Managing directors at Monaco (Bobby Bao) was also recently pictured with the EOS CEO? Any connections we don't know about?
Thanks for any info.
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I'm scrating my head about three things, I do not understand. Maybe one can enlighten me, please. https://blog.tenx.tech/tenx-q-a-livestream-and-transcript-10th-oct-2017-146c826cf66c17) If we get rid of cards, will PAY holders still get the reward?
We cannot guarantee the 0.5% on any payment system, because on some payment systems we may not have 0.5% With any new payment systems that we are adding, we may be subject to different conditions. If we only get 0.25% from someone, we cannot forward you 0.5%. That said, we are not intending to remove the 0.5% from the debit card, because the commissions are there.
1) Do they consider to get rid of cards, if so what is their business then, if not why mention it in first place ? 2) They can't even offer the promised 0.5%, because they themselves may just get 0.25% and also have to cover operations, wages, offices, etc from it ? 3) My last question is the most important one. The only value driver for the PAY token is the 0.5% reward mentioned in the whitepaper as far as I understand. To justify today's token price of $2.46 right now derived from 0.5% of all transactions means: 104,661,310 tokens * $2,46 = $257,466,822.6 need to be collected To make this happen we need 200 * <$ value of 0.5%> = $51,493,364,520 (close to a third of today's BTC marketcap: $167,024,234,822) Under consideration that company tokens will get rewards as well, sooner or later (otherwise they would not have any use case or value) it becomes worse as you can imagine: 205,218,256 PAY tokens * $2,46 * 200 = $100,967,381,952 Let's calculate with 12k per person spent via the card in average, quite high, but may happen: $12,000 * 0,005 = $60 collected (0.5% reward) So, to collect $51,493,364,520 TenX needs: $51,493,364,520 / $60 per person and yr = 858,222,742 the amount of customer years required (one customer 10 years is equal to 10 customers one year). Let's take a 10yrs forcast time (valid for some long term investors), it means TenX needs to have 85,822,274 customers spending $12k in average per year, and all company tokens must be destroyed. Otherwise the number roughly doubles to ~170,000,000 customers. If we do the math with 0.25% rewards it is >300 million customers required. Just to break even on today's token price, while BTC keeps rising. And break even means not to make any profit at all. => Why does anyone buy it at these prices ? Tell me, please, WHAT do I miss here?? * Is my math based on wrong facts and weird assumptions? * Is there any obviously error I can't spot ? * Or sth else I'm too blind to see ? I'm VERY confused, since it seems I miss a few major points and thus look like a fool not getting the actual point. To be clear: I want a fact-based discussion about it, a major bit missing in my picture, please help me to get it resolved. If you call my valid question just FUD, I'll call you just a marketmanipulator in return, because you are obviously NOT interessted in facts but play with ppl's emotions, only. Thanks to whoever is willing to point me to the missing bits, much appreciated. This was one of the major reasons that Monaco dropped their asset contract and this was with a 10th of the circulating supply that TenX has and what was a 1% (of crypto spends) contribution. They argued the figures just didn't add up. However, the community freaked out about it and the price tanked... I personally think that their new business model of 6 month token lock-up for platinum feature cards (with much higher cashback etc) is now going to be a much greater token price driver. Why? Well, firstly the sell pressure is going to be drastically reduced as people buy to lock-up and not sell. Secondly the demand is going to increase IF the product is superior to anything else available (which on paper it will be). Finally, as the sell pressure drops, the buy pressure increases and the user base grows, Monaco will need to hold higher reserves of MCO to pay out the cashback (which they intend to buy from the Market). But hey, the community want a replacement asset contract, so they're looking into that too - I just don't know how they'll make the numbers work with this either (even with only a 9million Circulating supply)... |
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I have been hearing alot of good things about monaco all over the web and it looks like the price is starting to reflect the progress. Can't wait to see these cards in action, monaco is going to be a game changer to world wide currency.
Yea price is steadily going up, we are currently trading on about $7 so i guess it will be safe to assume that we will trade at $10 by the year-end. If it is safe to assume you should go very long on MONACO  tiny little bit worried that we won't hit 10 dollars maybe? I personally don't think $10 is a difficult target to hit. If you look at my previous posts, there is a lot of good news coming Monaco's way, but more than anything is how much better the product is than anything out there. Whenever I talk to people about it, they instantly want one. Even my wife is onboard for the rose gold card! If the product meets expectations (and I have every faith that it will), there will be a lot of people reserving cards. He're the thing, even if people just get enough tokens to reserve the card only, thats still a lot of people just buying in order to lock-up and not sell. Sell pressure will decrease and buying pressure will increase with the demand for the card... On top of that is an increasing userbase and therefore increased Cashback that Monaco will be buying on the Market for their back-end to function with enough liquidity. Exciting times ahead. I truly believe that this will be THE card to have in crypto and beyond. |
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Looking positively of the future is a must
But please dont over-hype for god sake.
We all knew what happened after MCO is released to Binance, and after VISA approval done .
It falls down like nobody's biz
So, stop hyping and wait for the token to be listed in the exchanges !
I am still anticipating the price to go down even after the listings as this token serve no functional purpose unless the lock-in function and cards has been released to the customer.
BTC is getting stronger some more.
Ok ok, we get it. Don't over hype. But equally, don't just consistently outline negatives on every single post. We get it, you don't think Monaco will have a price increase on new exchange listings. However, how about you focus on some of the many positives that Monaco has coming over the coming months? Some of those that I highlighted in my original post? Monaco has been unloved for some time, but with things nearing completion it is time to get more optimistic on the future. Not optimistic? Then why not move on? |
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Here are a few updates we want to share in the Bitcoin Forum with the community: 1. There will be upcoming MCO listings on a few new exchanges. Over the next few weeks there will be MCO transfers out of our smart contract address. It’s associated with the upcoming MCO listings on new exchanges and covers market making / liquidity / marketing airdrops. The first one was executed an hour ago or so. 2. Our Monaco Cards' packaging is revealed. It looks chick and stunning! https://www.youtube.com/watch?v=28cwsKAN3lcMCO transfer out from your smart contract means the circulation of total MCO tokens increase and directly will decrease the price of each token given if the entire market cap is still the same . If you transfer out 9M number of tokens, thats enough to bring down the price of each token to half of what it is nw . I sold mine and return back once it reached down to around $4 each . Liquidation of holdings means it won't take long to reach there. https://etherscan.io/token/Monaco?a=0xf9a5e0436c01cc15708449e480fa5f2d6a5b55caI personally think the price will drop down to much more lower position given that dev is starting to liquidate their holdings of smart contract. Please note that only 30k Tokens were released. The tokens are to increase liquidity when Monaco lists on the new exchanges and also for marketing/Airdrops. 30K Monaco for this isn't going to dent the price on a circulation of 9million. Plus, if used strategically I think it can have a very positive effect. |
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Thanks a lot - glad to be here and trying to help spread the positive news Monaco has to come. I'm still getting used to this site though - I find it pretty confusing! ha!
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Hi, I do not know much about Monaco project and the things I could do inside the company, I only bough some MCO coins and I see here that the company is more than that. I've seen post about cards and team member, where could I read about what they have to offer? Thank you, hope I will get more familiar soon.
Hi Jack, the best place for info is their slack channel. You can request to join and will be approved by Monaco. Yes, there is a lot to Monaco that people don't know about yet! They are yet to start marketing, but will be soon once the product is launched. Do you plan on getting a card/platinum card? |
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The token lock up is a huge aspect of Monaco too. Once the cards begin to ship (in the coming weeks/months) demand will go up, supply goes down, and the price will do the rest. The Asset Contract is being replaced, but really wasn't a huge deal in the first place. Monaco tokens will be used in a cash back scheme, in which Monaco will be forced to buy the tokens off the exchange; this creates buy side pressure on the price of the token and will have a much greater effect than any asset contract, especially since they don't have to worry about it being deemed a security. They're almost there, hold on! https://pbs.twimg.com/media/DPZFbA_VoAA4bl9.jpg:largeSo many new accounts over here 😏😏😏😏 Asset contract sharing is no a big deal ?! How long u hv been following Monaco ? I am here since its 1st day. Cashback is nothing compared to Asset sharing. And you created a new account to say this ? Dear all investors, New accounts commenting overly positive posts means pump and dump are abt to be here. Be careful ! Apologies you see the post that way. Trust me I am not a pump and dumper - please feel free to go onto Monaco's slack and ask around, I am one of their most active users and a Mod on their Slack. Full disclosure that I am heavily invested in Monaco and have been since the ICO. I just wanted to share my thoughts on what I think is a very positive project. I also shared my post with the Monaco slack group. Back to the post in question though, I get that there have been delays. I just think that now is Monaco's time... There is a lot of positive news coming soon and things are starting to take shape. Hopefully you'll consider the card after you see the benefits. Its going to be a fantastic way for newcomers to crypto to invest. A quick and easy way to get into the crypto-space with the added benefits of a platinum card! All the best |
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Ha, I'm not employed by Monaco, although many in slack suggest I should be as I spend a lot of time in there! I just came on as people in the community were saying to spread the love outside of slack.
@Sebr1ng My slack ID is the same as this one - smithappens. You're obviously not in there much as I post in there all the time.
Regarding the replacement asset contract, its coming guys! Monaco completely miscalculated how much this meant to the community (not me personally as I don't think its required under the current business model), but they have recognised that and are working to release something that will be compliant. Afterall, they are ahead of the game on this front as they don't want the token to be considered a security and get it delisted from exchanges.
Remember compliance is at Monaco's core. They have drilled that into us from the start and is why they believe they will be the first to achieve a highly competitive GLOBAL product. It is how they are the first and only product with Visa Program Manager status and why they can offer much better perks to the card.
If it is the asset contract you are waiting on though, just wait a replacement is coming and the community will be informed when they have a suitable compliant replacement that wont be considered a security.
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Hi Guys,
New to this site, but a regular in the Monaco slack! I just came on to say how excited I am for the coming months with Monaco. We've had a tough period with delays, but everyone now gets the sense that something big is around the corner - the future is looking very very bright! In terms of the actual product I am more than confident that Monaco is going to be in a different league to the current competition in the crypto-space:
- They will have better exchange rates
- Significantly higher cashback on the platinum cards
- A premium metal card (also free remember - its only a loan of Tokens)
- An on app exchange at perfect interbank exchange rates
- A quick and easy way to buy into BTC for newcomers to crypto (perfectly timed as BTC becomes more mainstream)
- More features to come (expecting airport lounges etc)
With such a desirable product (the cards and packaging are simply beautiful) the demand for the platinum metal cards will drive the token price alone. This will be THE card to have if you're in the crypto-space.
Reduced supply & increased demand = exponential growth
Afterall, remember that there are only 9million MCO in circulation! Based on current numbers of reservations (now at 27,000), the CEO mentioned that over 1.5million of these tokens are due to be locked-up. Upon Europe rollout and mass marketing kicking in, the supply of Monaco is going to be drastically reduced! It is for this reason that I am 100% sure dynamic pricing for the cards will be implemented by the Monaco team in order to account for a rising Monaco price. It is something that the community have passionately requested and it clearly seems to have been listened to based on the recent Q&A's.
There have been plenty of other suggestions for a replacement asset contract too and we all eagerly await what direction Monaco will take in this regard. I was however, very happy to hear the CEO mention that the community will be consulted on this. There are other idea's put on the table that could bring real utility to the token too and the CEO has been keen to look into them. For example, we know that they like the idea of a 'reward upgrade scheme' on the blue cards whereby these cards receive MCO cashback too, but it is only redeemed when upgrading to a platinum card. Why would this be good for MCO holders? Well, it would provide an incentive to people holding the blue card to upgrade and lock up the required tokens for the ruby card. However, it would also lock-up additional tokens on a longer term basis for those that continue to hold the blue card. Other increased utility idea's have included cheaper prices or greater MCO cashback when spending MCO. Increased utility of the token like this will only serve to drive the demand for it. Lets see what directions they decide to take!
So, when can we expect positive price movement? Its difficult to predict given that Monaco are now implementing a 'no comment on dates' approach. However, in my opinion there are a few key drivers that will seriously drive the price in the near term (Dec/Jan expected for many):
- A product feature...who know's what this may be? I'm personally hoping for airport lounges!
- Listing on at least 3 new exchanges (The announcement that this is happening was in the last Q&A)
- Making of Monaco video - building excitement to see the card and app in action hopefully...
- Green Light for Europe Rollout - This will be HUGE news as it is where most of Monaco's reservations are
- Green Light for Japan Rollout - This will be a HUGE market when word gets out! Some publications have already started the attention.
- Card Beta Test - HUGE news as it will be the first batch of people reviewing the card, sharing on social media etc.
- Influencer marketing. We now know that Monaco will be shipping cards to the crypto review guys for review. This will put Monaco in the spotlight in the crypto community and hopefully beyond. The CEO also mentioned Marketing Airdrops?
- Card Rollout and Token Lock-up!!! This is the biggie. Why? With tokens starting to get locked up, the price will see consistent highs. People will be buying and locking up. Sell pressure will be dramatically reduced.
Longer term, there is plenty more to look forward to:
- Firstly there's the TWO big announcements that Monaco has up their sleeve. Kris stated that these were bigger than the Visa Program Manager approval which is a pretty big deal. This is something he has been very excited about from the start and has mentioned several times in interviews.
- Credit Card status. Again, something that has been mentioned on the roadmap for next year
- Banking partnership in the USA for US rollout...coming next year
- Further global rollout
Monaco really do have a great vision for this project and slowly but surely we're starting to see that come to life... These are very exciting times to be a MCO holder - scoop them up whilst you can!
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