NULL

[velociti]

Kris confirmed on slack.

Will be bringing back the asset contract. Currently working with legal time so it doesn't breach compliance issues and card holders will still get better cash back rates.

He's kept to his word the whole time. Booyahh let's go Monaco.

[vwnick87]

Answers to questions to Kris from the Slack community:



Question 1 - are you willing to get feedback from community about tying the token into the company in a new way, that is equal or better than the Asset contract?

We already received a lot of very valuable feedback and will continue to seek it actively.

Question 2 - which quarter is eu rollout?

EU rollout is a priority – we will provide an update on extension of our issuing partnership in November. 

Question 3 - when can people start locking up MCO tokens in exchange for cards?

We want to enable MCO lockup the moment when your card is ready to ship.

Question 4 - At what price do you think you will need to adjust the amount of MCO required for the Platinum Cards?

We’ll make these decisions based on funnel conversion numbers: from app download to KYC completed to Platinum card shipped. We already have a big chunk of this funnel complete, will measure the final piece when cards start to ship and make decisions accordingly.

Question 5 - What was the thing you wished you could tell us when you couldn't because of NDA, and you can tell us now?

We’re still under NDA, but at least we can now say that we are a Visa program manager and that we were approved on Sep 22, i.e. we actually got it done on time, even though we couldn’t talk about it.

Question 7 - Do you see Monaco being used as a Global currency? Now we have the platform to be a worldwide spendable 'visa' token, is it not wise to push the token in that direction? Give incentives for people to buy/sell/hold Monaco in the app over that of BTC and ETH?

We believe very strongly that the utility of MCO will grow with the size of the platform. This is not a static environment and we fully intend to evolve with the market.

Question 8 -  Are there other ideas on the table to increase the long term value of MCO without it being deemed as a 'security'?

We’d like to be prudent and have all ideas reviewed by legal counsels in all key jurisdictions, before we commit to discussing it in more detail. It’s a matter of critical importance, given how things are moving forward with regulators around the world.

Question 9 - Does Monaco currently have a plan for a North American rollout?  Does being a Program Manager help in that regard?

Yes, we had very successful meetings at highest levels during recent Money2020 event with key US partners, who are very supportive of our program. Being an approved Visa program manager helps tremendously in moving forward with global rollout and US is not an exception.

[mdenys]

Getting more interesting.It seems the bottom has been reached.4$ price was a great gift from Kris to all mco community.

[TarzanNJane]

It's really interesting project for me  But I have missed website on first page..

Is it correct address? https://mona.co/

[aero11]

Answers to questions to Kris from the Slack community:



Question 1 - are you willing to get feedback from community about tying the token into the company in a new way, that is equal or better than the Asset contract?

We already received a lot of very valuable feedback and will continue to seek it actively.

Question 2 - which quarter is eu rollout?

EU rollout is a priority – we will provide an update on extension of our issuing partnership in November. 

Question 3 - when can people start locking up MCO tokens in exchange for cards?

We want to enable MCO lockup the moment when your card is ready to ship.

Question 4 - At what price do you think you will need to adjust the amount of MCO required for the Platinum Cards?

We’ll make these decisions based on funnel conversion numbers: from app download to KYC completed to Platinum card shipped. We already have a big chunk of this funnel complete, will measure the final piece when cards start to ship and make decisions accordingly.

Question 5 - What was the thing you wished you could tell us when you couldn't because of NDA, and you can tell us now?

We’re still under NDA, but at least we can now say that we are a Visa program manager and that we were approved on Sep 22, i.e. we actually got it done on time, even though we couldn’t talk about it.

Question 7 - Do you see Monaco being used as a Global currency? Now we have the platform to be a worldwide spendable 'visa' token, is it not wise to push the token in that direction? Give incentives for people to buy/sell/hold Monaco in the app over that of BTC and ETH?

We believe very strongly that the utility of MCO will grow with the size of the platform. This is not a static environment and we fully intend to evolve with the market.

Question 8 -  Are there other ideas on the table to increase the long term value of MCO without it being deemed as a 'security'?

We’d like to be prudent and have all ideas reviewed by legal counsels in all key jurisdictions, before we commit to discussing it in more detail. It’s a matter of critical importance, given how things are moving forward with regulators around the world.

Question 9 - Does Monaco currently have a plan for a North American rollout?  Does being a Program Manager help in that regard?

Yes, we had very successful meetings at highest levels during recent Money2020 event with key US partners, who are very supportive of our program. Being an approved Visa program manager helps tremendously in moving forward with global rollout and US is not an exception.

It means fun for real long-term tough guys.
Globally the topic is not easy and it will definitely take a long time, but if the team will continue to work will eventually result in a success, greater than the contract with Visa. I keep my fingers crossed for further positive developments.

[vwnick87]

More

kris [10:57 AM]
There is so much exciting data coming from our card reservations! Let me give you three bits of information here: 1. The conversion from app download to full KYC completion is amazingly high. 2. Europe leads the way as a whole. 3. Platinum cards are VERY popular. We can't provide exact breakdowns, but if we add it all up, when we ship the currently reserved cards out, around 1.3m MCO tokens will be locked up. That's EXCLUDING the Black Cards. 1.3m MCO is roughly 30% of all MCO tokens sitting on Bittrex today. Reminder: we have spent exactly $0 on marketing. Just imagine what will happen when we boost the number of downloads to 2-3 million. All the Platinum card holders will become MCO token holders via cryptocurrency cashback and the initial lockups. Current number of unique wallets holding MCO is around 10,000. I think all factors together give a very promising picture.

[Littledragons]

More

kris [10:57 AM]
There is so much exciting data coming from our card reservations! Let me give you three bits of information here: 1. The conversion from app download to full KYC completion is amazingly high. 2. Europe leads the way as a whole. 3. Platinum cards are VERY popular. We can't provide exact breakdowns, but if we add it all up, when we ship the currently reserved cards out, around 1.3m MCO tokens will be locked up. That's EXCLUDING the Black Cards. 1.3m MCO is roughly 30% of all MCO tokens sitting on Bittrex today. Reminder: we have spent exactly $0 on marketing. Just imagine what will happen when we boost the number of downloads to 2-3 million. All the Platinum card holders will become MCO token holders via cryptocurrency cashback and the initial lockups. Current number of unique wallets holding MCO is around 10,000. I think all factors together give a very promising picture.

Yeah so paying people to answer questions on forums for you isnt marketing?
What about paying for TV spots in China?

This is the biggest shill op I have ever seen.
Especially because they have literally paid someone to make the pretty images in the OP....
Tell me again how you didnt spend anyhting...

Answers to questions to Kris from the Slack community:



Question 1 - are you willing to get feedback from community about tying the token into the company in a new way, that is equal or better than the Asset contract?

We already received a lot of very valuable feedback and will continue to seek it actively.

Question 2 - which quarter is eu rollout?

EU rollout is a priority – we will provide an update on extension of our issuing partnership in November.  

Question 3 - when can people start locking up MCO tokens in exchange for cards?

We want to enable MCO lockup the moment when your card is ready to ship.

Question 4 - At what price do you think you will need to adjust the amount of MCO required for the Platinum Cards?

We’ll make these decisions based on funnel conversion numbers: from app download to KYC completed to Platinum card shipped. We already have a big chunk of this funnel complete, will measure the final piece when cards start to ship and make decisions accordingly.

Question 5 - What was the thing you wished you could tell us when you couldn't because of NDA, and you can tell us now?

We’re still under NDA, but at least we can now say that we are a Visa program manager and that we were approved on Sep 22, i.e. we actually got it done on time, even though we couldn’t talk about it.

Question 7 - Do you see Monaco being used as a Global currency? Now we have the platform to be a worldwide spendable 'visa' token, is it not wise to push the token in that direction? Give incentives for people to buy/sell/hold Monaco in the app over that of BTC and ETH?

We believe very strongly that the utility of MCO will grow with the size of the platform. This is not a static environment and we fully intend to evolve with the market.

Question 8 -  Are there other ideas on the table to increase the long term value of MCO without it being deemed as a 'security'?

We’d like to be prudent and have all ideas reviewed by legal counsels in all key jurisdictions, before we commit to discussing it in more detail. It’s a matter of critical importance, given how things are moving forward with regulators around the world.

Question 9 - Does Monaco currently have a plan for a North American rollout?  Does being a Program Manager help in that regard?

Yes, we had very successful meetings at highest levels during recent Money2020 event with key US partners, who are very supportive of our program. Being an approved Visa program manager helps tremendously in moving forward with global rollout and US is not an exception.

It means fun for real long-term tough guys.
Globally the topic is not easy and it will definitely take a long time, but if the team will continue to work will eventually result in a success, greater than the contract with Visa. I keep my fingers crossed for further positive developments.

This is purely PR shit - All they are doing is keeping people with pitchforks off of their doorstep as they really tried to step out of their original promises. Is this honestly what you guys think is positive for how a company works?

Oh yeah... And how do you think you will stay on Bittrex when the SEC thinks your a security?

[Digger03]

what a roller coaster
on the up again

[cashsogood]

wish the project be success! Cheers! Great work!

[BricoTkn]

From Slack just now

 @kris
Hi Everyone - we've gathered a lot of feedback from the community regarding the asset contract over the last 48 hours. We take all input very seriously - everything that the community views as of a matter of vital importance will be acted upon. As a result, we're discussing with our legal counsel a new smart contract design, which would allow us to deliver essentially the same value for token holders, but without any risk of MCO token being qualified as a security. Given that these matters involve a multi-jurisdiction legal review, please allow us to complete the work first, before we comment in more detail. We are committed to making sure that every issue raised by the community is addressed appropriately.
Thread in #communityToday at 10:07 AM

It seems there might be a formula to implement it, and if so, this is going to be massive. The competition is facing similar problems and it seems there might be another way. Check comment from Julian (TENX CEO) when he was asked in reddit about their (similar) asset contract:

------------------------------------------------------------
Julian,

How can you say that Tenx Pay will have rewards, when the SEC clearly has set a precident for going after any ICO or coin project which issues virtual tokens that look or act like securities? This post here has some good information on DAO. This particular quote highlights the situation:


The DAO’s business model was similar to a venture capital fund. Investors used virtual currency to buy DAO tokens in the hopes of future dividend-like payments.

Seems to me that saying you'll have rewards isn't accurate. If you do, you definitely won't be able to give them to USA investors and card holders, correct? Your message says you will have rewards and then you go on to say that you're waiting on legal advice. Well, what happens if the legal advice is: you can't pay out dividends or rewards to token holders because it would be seen as a security? I don't understand how you can be so sure.

Unless by rewards you mean stickers, merchandise or cashback incentives? Sounds to me like you're not talking about an asset contract type situation where you can earn by holding TenX Pay or am I misreading the situation here? I know you're putting this out there because Monaco just said they aren't having an asset contract system in place because of legal concerns about securities and potential to be delisted from exchanges like Bittrex (based in Seattle).

If you're only putting out unsubstantiated or vague claims to get some good PR from the bad situation at MCO, it's going to hurt the Pay investors in the long run. So, some clarification would be greatly appreciated on all of this. I think many of us can say you've done a great job engaging the community and answering questions.

Can you please elaborate on this, particularly is a "reward" the same as a "dividend" being paid to token holders? The wording of choice here seems to be very selective.

Thank you and much love.

------------------------------------------------------------

Reply from Julian:

Rewards in form of token - we do not do any fishy-take-back things. Give me, till I have the green light for all legal opinions and you will see how it is compliant (and will once again be copied by everyone else).

------------------------------------------------------------
Original post: https://www.reddit.com/r/TenX/comments/7a0b6z/tenx_we_do_have_rewards/

[pigeoness080]

 

Think I'm gonna buy buy buy
 
 
 

 while the price is  still low low low

  thanks kris

 

[turkiman]

this project has launching last time or long time ago, so i just can look the content of your project and became literature when i have or will make some project in this forum, i hope will not scam

[trumpc2016]

Perfect time to buy! Got 11,8k! Awesome!!!!

[BricoTkn]

I doubled my MCO tokens in 1 day when I came back this morning  ...

[trumpc2016]

I doubled my MCO tokens in 1 day when I came back this morning  ...

Gratz!

[pigeoness080]

Cheep as chips atm  

[hoop]

Has the MONACO team found a solution to the new rules in the field suppliers of CREDIT CARD.

[bitofc]

http://www.channelnewsasia.com/news/business/singapore-residents-first-to-get-new-cryptocurrency-credit-card-9370318

https://www.bloomberg.com/news/articles/2017-11-01/visa-approves-monaco-cryptocurrency-card-for-singapore-residents

[vipthree]

More

kris [10:57 AM]
There is so much exciting data coming from our card reservations! Let me give you three bits of information here: 1. The conversion from app download to full KYC completion is amazingly high. 2. Europe leads the way as a whole. 3. Platinum cards are VERY popular. We can't provide exact breakdowns, but if we add it all up, when we ship the currently reserved cards out, around 1.3m MCO tokens will be locked up. That's EXCLUDING the Black Cards. 1.3m MCO is roughly 30% of all MCO tokens sitting on Bittrex today. Reminder: we have spent exactly $0 on marketing. Just imagine what will happen when we boost the number of downloads to 2-3 million. All the Platinum card holders will become MCO token holders via cryptocurrency cashback and the initial lockups. Current number of unique wallets holding MCO is around 10,000. I think all factors together give a very promising picture.

Yeah so paying people to answer questions on forums for you isnt marketing?
What about paying for TV spots in China?

This is the biggest shill op I have ever seen.
Especially because they have literally paid someone to make the pretty images in the OP....
Tell me again how you didnt spend anyhting...

Answers to questions to Kris from the Slack community:



Question 1 - are you willing to get feedback from community about tying the token into the company in a new way, that is equal or better than the Asset contract?

We already received a lot of very valuable feedback and will continue to seek it actively.

Question 2 - which quarter is eu rollout?

EU rollout is a priority – we will provide an update on extension of our issuing partnership in November.  

Question 3 - when can people start locking up MCO tokens in exchange for cards?

We want to enable MCO lockup the moment when your card is ready to ship.

Question 4 - At what price do you think you will need to adjust the amount of MCO required for the Platinum Cards?

We’ll make these decisions based on funnel conversion numbers: from app download to KYC completed to Platinum card shipped. We already have a big chunk of this funnel complete, will measure the final piece when cards start to ship and make decisions accordingly.

Question 5 - What was the thing you wished you could tell us when you couldn't because of NDA, and you can tell us now?

We’re still under NDA, but at least we can now say that we are a Visa program manager and that we were approved on Sep 22, i.e. we actually got it done on time, even though we couldn’t talk about it.

Question 7 - Do you see Monaco being used as a Global currency? Now we have the platform to be a worldwide spendable 'visa' token, is it not wise to push the token in that direction? Give incentives for people to buy/sell/hold Monaco in the app over that of BTC and ETH?

We believe very strongly that the utility of MCO will grow with the size of the platform. This is not a static environment and we fully intend to evolve with the market.

Question 8 -  Are there other ideas on the table to increase the long term value of MCO without it being deemed as a 'security'?

We’d like to be prudent and have all ideas reviewed by legal counsels in all key jurisdictions, before we commit to discussing it in more detail. It’s a matter of critical importance, given how things are moving forward with regulators around the world.

Question 9 - Does Monaco currently have a plan for a North American rollout?  Does being a Program Manager help in that regard?

Yes, we had very successful meetings at highest levels during recent Money2020 event with key US partners, who are very supportive of our program. Being an approved Visa program manager helps tremendously in moving forward with global rollout and US is not an exception.

It means fun for real long-term tough guys.
Globally the topic is not easy and it will definitely take a long time, but if the team will continue to work will eventually result in a success, greater than the contract with Visa. I keep my fingers crossed for further positive developments.

This is purely PR shit - All they are doing is keeping people with pitchforks off of their doorstep as they really tried to step out of their original promises. Is this honestly what you guys think is positive for how a company works?

Oh yeah... And how do you think you will stay on Bittrex when the SEC thinks your a security?

So does it mean we may see EU roll-out in 2017?
Very nice 

[CowboyKiller]

I doubled my MCO tokens in 1 day when I came back this morning  ...

Dropped from @180k satoshi to @80k satoshi within 48 hours lol . I'm lucky when I decided to sell my MCO at high price before it start to dump. Anyone know the reason or rumor made the price of this token dumped a lot as now?