NULL

[crickets]

Here's an example since you guys don't seem to be capable of Math.

Assume you own 10,000 MCO tokens. That is 0.001% of the total supply.

Now fast forward about a decade. MCO has become a giant and earns a yearly revenue of 1 Billion USD in platform fees (transactions, ATM withdrawals, conversions, etc.).

Since you own 0.001% of the tokens, you are entitled to a share of 1 Million USD.


This is what was promised and will no longer be delivered. And Kris says this is "pointless", which makes him either clueless, or dishonest. I hope it's the first and that he's going to find a workaround for this, like SONM already did, but I'm not having any hopes for this after his statement.

have to agree , this coin got me for $1,500 yesterday just in the time I took a walk with my kids... my fault for forgetting to set a stop. It wont burn me again  

I'm probably ditching too, the new video is a massive disappointment.



https://www.youtube.com/watch?v=VjOL8rOC0o0

That example doesn't hold unless there's >100k new cards every year forever. Once the amount of new users starts stagnating the token value will dump. And that's ignoring long-term investors who were specifically waiting for Billions of annual revenue 5 to 10 years down the line.

It's simply not true that the new model (which is the old model minus sharing revenue with investors/token holders) is "mathematically proven" to be better. It's mathematically obvious that it's worse and such a gross misrepresentation of the Mathematics of this issue shows either a complete lack of competence, a lack of rigor, or a complete lack of honesty.

Everything else so far is just smooth talking aching to cold call insurance sellers.


And I didn't even get started about the massive risk for extreme market manipulation once the supply gets too small to fulfill orders. The amount of tokens required for reserving cards will have to be adjusted, which will have a massive impact on the price. And we all know whose interests centralized authorities usually satisfy in those situations: their own.

This token will only appeal to those who value relationship with established financial system. The platinum card product benefits as advertised will drive growth of card usage and will be valuable for card holders. If i'm understanding correctly, the value for token holders only (with no card) will be linked to the value of other crypto + fiat used in the exchange rate process. MCO coin is an intermediary 'tool' to enable purchase in store and online at Visa merchants with no fees for crypto or forrex. The savings plus the cashback will drive usage. I would also expect future In-App features (like Android/Apple Pay/Paypal). I see this market be mading up of 1) people who earn revenue via crypto, 2) frequent travelers 3) people who love collecting points / rewards (above 50% of Visa customers don't carry a balance and transactors who use the cards for convenience and points...most Platinum cards have annual fees ~$120 plus the forrex and ATM fees etc.

Seems like a big market. Looking forward to the first card usage reviews in Asia.  

[trumpc2016]

Why MCO today drop again? whether due to the impact of bitcoin pump or other issues? this makes me confused because I bought when the price of $ 9 last September and now the price under $ 6.

some people even more confused bought for 20-25$     Maybe it will recover to 9$ in a few days,everything is possible in crypto  

Buy support is so weak. Seems like many people will be bag holders soon.

[jameswar1955]

I also dont understand that the price drop so hard.

I thought it will go straight up because the big news.

[trumpc2016]

I also dont understand that the price drop so hard.

I thought it will go straight up because the big news.

They removed asset contract, that why everyone loosing money.

[SuWide]

I also dont understand that the price drop so hard.

I thought it will go straight up because the big news.

this is crypto. Totally out of control. Rumors > news

[BMG86]

I also dont understand that the price drop so hard.

I thought it will go straight up because the big news.

Pretty much all of the market is down because of the upcoming fork. Everybody wants to hold onto bitcoin to get to get thier free money.

[Driendy]

"Bitcoin prepaid debit card operator Monaco’s token is plunging Wednesday after a code rewrite removed a key aspect from its roadmap.
At the same time it announced Visa as card issuing partner for its prepaid rollout, Monaco said its asset smart contract scheme would no longer feature in its future.
Holders of its MCO token, which launched via a 70,000 ETH ($2.1 mln) crowdsale earlier this year, reacted sharply. As of press time, its value was down over 37 percent in 24 hours."

Seen at: https://cointelegraph.com/news/monaco-prepaid-card-bins-asset-contract-token-dives-40-in-a-day

Thanks for this. Woke up this morning to quite a surprise on the MCO front. Very disappointing for those who didn't have conditional sell stops in place. I had fun with this coin early, but when the devs change important aspects of this coin, it's no longer is an intelligent long term investment. 

Yes, this and the way Kris talked about this issue as if it was irrelevant really put me off of MonaCo, which I was heavily looking forward to using initially. Not when the CEO claims that not sharing revenue is "absolutely pointless" though. That's either a massive lie or complete incompetence with regard to basic Mathematics.

Guys , this market is not regulated . There may be some price manipulations and no one will class it criminal offence unlike of what is going on with the shares/stocks, because there is no laws really .So we never know what is going on really . The move from the dev could predict this impact .  I don't know what to think, I believe we have to be resilient here and not to get drifted by any panic . And never invest more of what you can loose . Those are high risk markets , it is not an gov backed saving program from 1970s . For that do not expect more than 2%/ year . If you get here , fast your sit-belt .

I'm not concerned about my investment. I've balanced my portfolio in a way that makes it impossible for me to lose any money.

I'm upset with the lack of honesty on the side of MonaCo and the shady attempts to appease investors with nonsensical disinformation.

I'm in the same boat. Not concerned about the loss. However, to say the market isn't regulated and we should expect to lose or make no more than 2% a year on our investment as an excuse for a poor business ethic driven announcement is wrong. The rewards for this coin were very much a large factor in holding these coins long term, and why many of us chose this coin to invest in in the first place.

It has caused TenX to make an announcement on rewards https://www.reddit.com/r/TenX/comments/7a0b6z/tenx_we_do_have_rewards/ and also caused many investors with Centra to laugh at this coin and it's investors.

I am following you guys but this is the thing with non regulated markets. We don't know with whom we deal and the worse is that this system holds no one accountable really. Look, Enron in US. Great company, eventually all fake, Bernard Madoff, billion went to the bin. And this is about great stocks that run for 10years. But at least some were punched for the wrong doings . Here where is the mechanism of control ? You may disagree but but one thing true on what say all the banks and govs about the crypto is this what we see now.  And the result is that out of 300 trillions potential we are happy to see 0.05% only in this crypto market. Those are start up , unclear projects and no one got any licence diploma or complaisance check  to run anything. I hope one day all will be well regulated . For instance it will be right to ask each coin before trading to make an application for it ( a complex one) and abide by some management rules. Then only we will see less bad coins and decisions and more money flying and trust in . Imagine 70% of the bad coins fail the application process then what is left will jump to the sky.

[BTCMILLIONAIRE]

"Bitcoin prepaid debit card operator Monaco’s token is plunging Wednesday after a code rewrite removed a key aspect from its roadmap.
At the same time it announced Visa as card issuing partner for its prepaid rollout, Monaco said its asset smart contract scheme would no longer feature in its future.
Holders of its MCO token, which launched via a 70,000 ETH ($2.1 mln) crowdsale earlier this year, reacted sharply. As of press time, its value was down over 37 percent in 24 hours."

Seen at: https://cointelegraph.com/news/monaco-prepaid-card-bins-asset-contract-token-dives-40-in-a-day

Thanks for this. Woke up this morning to quite a surprise on the MCO front. Very disappointing for those who didn't have conditional sell stops in place. I had fun with this coin early, but when the devs change important aspects of this coin, it's no longer is an intelligent long term investment. 

Yes, this and the way Kris talked about this issue as if it was irrelevant really put me off of MonaCo, which I was heavily looking forward to using initially. Not when the CEO claims that not sharing revenue is "absolutely pointless" though. That's either a massive lie or complete incompetence with regard to basic Mathematics.

Guys , this market is not regulated . There may be some price manipulations and no one will class it criminal offence unlike of what is going on with the shares/stocks, because there is no laws really .So we never know what is going on really . The move from the dev could predict this impact .  I don't know what to think, I believe we have to be resilient here and not to get drifted by any panic . And never invest more of what you can loose . Those are high risk markets , it is not an gov backed saving program from 1970s . For that do not expect more than 2%/ year . If you get here , fast your sit-belt .

I'm not concerned about my investment. I've balanced my portfolio in a way that makes it impossible for me to lose any money.

I'm upset with the lack of honesty on the side of MonaCo and the shady attempts to appease investors with nonsensical disinformation.

I'm in the same boat. Not concerned about the loss. However, to say the market isn't regulated and we should expect to lose or make no more than 2% a year on our investment as an excuse for a poor business ethic driven announcement is wrong. The rewards for this coin were very much a large factor in holding these coins long term, and why many of us chose this coin to invest in in the first place.

It has caused TenX to make an announcement on rewards https://www.reddit.com/r/TenX/comments/7a0b6z/tenx_we_do_have_rewards/ and also caused many investors with Centra to laugh at this coin and it's investors.

I preferred MonaCo from the very start, and went 20-80 in TenX-MonaCo. I'm about to flip 100-0 into TenX-MonaCo due to this change... Feels like Kris thinks that his token holders are idiots based on his latest statements, and I guess that's true if the chats are anything to go by. Good for Kris, bad for every serious investor.

[Driendy]

"Bitcoin prepaid debit card operator Monaco’s token is plunging Wednesday after a code rewrite removed a key aspect from its roadmap.
At the same time it announced Visa as card issuing partner for its prepaid rollout, Monaco said its asset smart contract scheme would no longer feature in its future.
Holders of its MCO token, which launched via a 70,000 ETH ($2.1 mln) crowdsale earlier this year, reacted sharply. As of press time, its value was down over 37 percent in 24 hours."

Seen at: https://cointelegraph.com/news/monaco-prepaid-card-bins-asset-contract-token-dives-40-in-a-day

Thanks for this. Woke up this morning to quite a surprise on the MCO front. Very disappointing for those who didn't have conditional sell stops in place. I had fun with this coin early, but when the devs change important aspects of this coin, it's no longer is an intelligent long term investment. 

Yes, this and the way Kris talked about this issue as if it was irrelevant really put me off of MonaCo, which I was heavily looking forward to using initially. Not when the CEO claims that not sharing revenue is "absolutely pointless" though. That's either a massive lie or complete incompetence with regard to basic Mathematics.

Guys , this market is not regulated . There may be some price manipulations and no one will class it criminal offence unlike of what is going on with the shares/stocks, because there is no laws really .So we never know what is going on really . The move from the dev could predict this impact .  I don't know what to think, I believe we have to be resilient here and not to get drifted by any panic . And never invest more of what you can loose . Those are high risk markets , it is not an gov backed saving program from 1970s . For that do not expect more than 2%/ year . If you get here , fast your sit-belt .

I'm not concerned about my investment. I've balanced my portfolio in a way that makes it impossible for me to lose any money.

I'm upset with the lack of honesty on the side of MonaCo and the shady attempts to appease investors with nonsensical disinformation.

I'm in the same boat. Not concerned about the loss. However, to say the market isn't regulated and we should expect to lose or make no more than 2% a year on our investment as an excuse for a poor business ethic driven announcement is wrong. The rewards for this coin were very much a large factor in holding these coins long term, and why many of us chose this coin to invest in in the first place.

It has caused TenX to make an announcement on rewards https://www.reddit.com/r/TenX/comments/7a0b6z/tenx_we_do_have_rewards/ and also caused many investors with Centra to laugh at this coin and it's investors.

I preferred MonaCo from the very start, and went 20-80 in TenX-MonaCo. I'm about to flip 100-0 into TenX-MonaCo due to this change... Feels like Kris thinks that his token holders are idiots based on his latest statements, and I guess that's true if the chats are anything to go by. Good for Kris, bad for every serious investor.

It looks like they saw the potential of the project in terms of how much this can bring but I still hope they will adjust this sharing system maybe next year.

[BTCMILLIONAIRE]

"Bitcoin prepaid debit card operator Monaco’s token is plunging Wednesday after a code rewrite removed a key aspect from its roadmap.
At the same time it announced Visa as card issuing partner for its prepaid rollout, Monaco said its asset smart contract scheme would no longer feature in its future.
Holders of its MCO token, which launched via a 70,000 ETH ($2.1 mln) crowdsale earlier this year, reacted sharply. As of press time, its value was down over 37 percent in 24 hours."

Seen at: https://cointelegraph.com/news/monaco-prepaid-card-bins-asset-contract-token-dives-40-in-a-day

Thanks for this. Woke up this morning to quite a surprise on the MCO front. Very disappointing for those who didn't have conditional sell stops in place. I had fun with this coin early, but when the devs change important aspects of this coin, it's no longer is an intelligent long term investment. 

Yes, this and the way Kris talked about this issue as if it was irrelevant really put me off of MonaCo, which I was heavily looking forward to using initially. Not when the CEO claims that not sharing revenue is "absolutely pointless" though. That's either a massive lie or complete incompetence with regard to basic Mathematics.

Guys , this market is not regulated . There may be some price manipulations and no one will class it criminal offence unlike of what is going on with the shares/stocks, because there is no laws really .So we never know what is going on really . The move from the dev could predict this impact .  I don't know what to think, I believe we have to be resilient here and not to get drifted by any panic . And never invest more of what you can loose . Those are high risk markets , it is not an gov backed saving program from 1970s . For that do not expect more than 2%/ year . If you get here , fast your sit-belt .

I'm not concerned about my investment. I've balanced my portfolio in a way that makes it impossible for me to lose any money.

I'm upset with the lack of honesty on the side of MonaCo and the shady attempts to appease investors with nonsensical disinformation.

I'm in the same boat. Not concerned about the loss. However, to say the market isn't regulated and we should expect to lose or make no more than 2% a year on our investment as an excuse for a poor business ethic driven announcement is wrong. The rewards for this coin were very much a large factor in holding these coins long term, and why many of us chose this coin to invest in in the first place.

It has caused TenX to make an announcement on rewards https://www.reddit.com/r/TenX/comments/7a0b6z/tenx_we_do_have_rewards/ and also caused many investors with Centra to laugh at this coin and it's investors.

I preferred MonaCo from the very start, and went 20-80 in TenX-MonaCo. I'm about to flip 100-0 into TenX-MonaCo due to this change... Feels like Kris thinks that his token holders are idiots based on his latest statements, and I guess that's true if the chats are anything to go by. Good for Kris, bad for every serious investor.

It looks like they saw the potential of the project in terms of how much this can bring but I still hope they will adjust this sharing system maybe next year.

If they need until next year to even announce that they are looking for a workaround for their investors I'll be out before Christmas and never come back. By the looks of it I'm far from being the only one to jump boats too. But in crypto only flippers seem to count anyways, so I doubt anyone will care about honest and serious projects that reward investors, even though the projects wouldn't exist without them in the first place.

[RoosterRed]

Hello Friends,

I have updated my Monaco vs Centra vs TenX article in the comments. Here is the update so you don't have to click my link if you don't want to.

"Monaco just announced today that it has eliminated the asset SmartContract. This significantly reduces the long term value of the token. One thing that will drive the value of MCO, that I originally missed, is that the rewards for the card are paid in MCO (.75% MCO back). This means Monaco has to purchase MCO from the open market to give to card users. This will create demand, but since the tokens aren't destroyed, and most users will simply convert MCO to BTC or cash, it is hard to say it will be a major driver of MCO value. And this relies on Monaco not issuing more MCO, which I still can't find black-and-white confirmation of.

The other thing that drives value of MCO is that the cards that give you MCO back "cost" MCO to get. If you want a Platinum card, you have to buy 50 MCO and keep it for six months. However, the MCO isn't destroyed, and after six months you can do what ever you want with your MCO. It is hard seeing this adding much value long term.

Here is the announcement:
https://medium.com/@monaco_card/project-update-monaco-mco-token-functionalities-to-be-maintained-no-upgrade-to-support-an-asset-fd558638238f "

https://steemit.com/crypto/@roosterred/centra-vs-monaco-vs-tenx-how-do-their-tokens-compare

[delpiero10]

Hello Friends,

I have updated my Monaco vs Centra vs TenX article in the comments. Here is the update so you don't have to click my link if you don't want to.

"Monaco just announced today that it has eliminated the asset SmartContract. This significantly reduces the long term value of the token. One thing that will drive the value of MCO, that I originally missed, is that the rewards for the card are paid in MCO (.75% MCO back). This means Monaco has to purchase MCO from the open market to give to card users. This will create demand, but since the tokens aren't destroyed, and most users will simply convert MCO to BTC or cash, it is hard to say it will be a major driver of MCO value. And this relies on Monaco not issuing more MCO, which I still can't find black-and-white confirmation of.

The other thing that drives value of MCO is that the cards that give you MCO back "cost" MCO to get. If you want a Platinum card, you have to buy 50 MCO and keep it for six months. However, the MCO isn't destroyed, and after six months you can do what ever you want with your MCO. It is hard seeing this adding much value long term.

Here is the announcement:
https://medium.com/@monaco_card/project-update-monaco-mco-token-functionalities-to-be-maintained-no-upgrade-to-support-an-asset-fd558638238f "

https://steemit.com/crypto/@roosterred/centra-vs-monaco-vs-tenx-how-do-their-tokens-compare

There is a mistake in your article, monaco has changed cashback to 1.0% for Ruby  Steel, 1.5% Space Gray and 2.0% Obsidian card

[RoosterRed]

Hello Friends,

I have updated my Monaco vs Centra vs TenX article in the comments. Here is the update so you don't have to click my link if you don't want to.

"Monaco just announced today that it has eliminated the asset SmartContract. This significantly reduces the long term value of the token. One thing that will drive the value of MCO, that I originally missed, is that the rewards for the card are paid in MCO (.75% MCO back). This means Monaco has to purchase MCO from the open market to give to card users. This will create demand, but since the tokens aren't destroyed, and most users will simply convert MCO to BTC or cash, it is hard to say it will be a major driver of MCO value. And this relies on Monaco not issuing more MCO, which I still can't find black-and-white confirmation of.

The other thing that drives value of MCO is that the cards that give you MCO back "cost" MCO to get. If you want a Platinum card, you have to buy 50 MCO and keep it for six months. However, the MCO isn't destroyed, and after six months you can do what ever you want with your MCO. It is hard seeing this adding much value long term.

Here is the announcement:
https://medium.com/@monaco_card/project-update-monaco-mco-token-functionalities-to-be-maintained-no-upgrade-to-support-an-asset-fd558638238f "

https://steemit.com/crypto/@roosterred/centra-vs-monaco-vs-tenx-how-do-their-tokens-compare

There is a mistake in your article, monaco has changed cashback to 1.0% for Ruby  Steel, 1.5% Space Gray and 2.0% Obsidian card

Thank you for informing me! I'll probably add that to my comment (I can't edit the actual article as it is over a week old).

[btcone111]

Sell before it drops to $1 in three months time. Mark my word. Thank me later for saving you 5/6 of your money now.


SELL!!!!!!!!!!!!!!!!!!!!! SCAM!!!!!!!!!!!!!!!!!!!!!!!!!

[backstreetboy6]

i would rather say to all weak-hands , just dont sell
to the best of my knowledge , Singapore based companies re bounce pretty good.

[BTCMILLIONAIRE]

i would rather say to all weak-hands , just dont sell
to the best of my knowledge , Singapore based companies re bounce pretty good.

This has nothing to do with weak hands and everything to do with dishonest marketing and false promises.

[Metros]

So just to understand, what did they changed?

The reward system?

The idea was that MCO holder get rewards from the card transactions like TenX, right?

So if I undertand correctly, it has been removed from the table?

[josegav]

Hello, it's funny how they handle people here, getting scared to sell their MCO, just look at bittrex as there are many people buying thousands of MCO at a low price, in a few days when this happens, they will realize that these who speak MCO bad, they will have many in their wallets bought very low, hahaha. Thank you for making them sell and buy enough MCO at a good price, now to wait for a while to go back up 

[chocopapaya]

Well, I am one who has been monitoring monaco, and saw the potential in it as well as real world usage.
I was wary so I was waiting for the visa approval to be announced and then buy some because I was sure that it would increase in value.

By the time I got around to checking the price of MCO, I saw it had already gone to 10 dollars.
I checked this thread, saw that the visa announcement had been made, and rushed to buy some MCO.

...and now it's down in the dumps.
Another lesson learned that seems so obvious, I should have taken the time to thoroughly read the details of the changes and realize their impact.

Listen, it's crypto markets are not some mystical magical thing where, "OH wow! It's falling for now reason! It will surely go to the moon later!" (for no reason...)

It is simple, many people holding MCO are displeased with Monaco not delivering one of the best aspects of their coin and also even more upset with
the flippant and patronizing way it was handled.

so they dump it all.

[josegav]

Well, I am one who has been monitoring monaco, and saw the potential in it as well as real world usage.
I was wary so I was waiting for the visa approval to be announced and then buy some because I was sure that it would increase in value.

By the time I got around to checking the price of MCO, I saw it had already gone to 10 dollars.
I checked this thread, saw that the visa announcement had been made, and rushed to buy some MCO.

...and now it's down in the dumps.
Another lesson learned that seems so obvious, I should have taken the time to thoroughly read the details of the changes and realize their impact.

Listen, it's crypto markets are not some mystical magical thing where, "OH wow! It's falling for now reason! It will surely go to the moon later!" (for no reason...)

It is simple, many people holding MCO are displeased with Monaco not delivering one of the best aspects of their coin and also even more upset with
the flippant and patronizing way it was handled.

so they dump it all.

I totally agree with you, the problem is that this is a business and before you throw everything away, you should review the pros and cons, this project has a lot of potential now with a visa and it will bring many changes in the future, apart from that, the ico as such is going to rise a lot in the future because of being pioneers with a visa, as an investor I am somewhat disgusted by the changes I have seen, but this is not the first time that it has happened in projects in which I have invested and at the end the reward arises, you just have to monitor and understand the magnitude of the project and have patience, regards