Is it still unclear that there will be no cards in Singapore or anywhere else. Those who will continue to believe in this unsuccessful project will look silly.
Thank you for your post Ivanofffff. You are right in what you say but having said that the truth is even if they send cards out to Singapore users in October the fact is they would be 15 months late from their initial date of delivery.
The plus side would be that at least the cards have been sent to one country and they can start planning on sending more cards out to other countries but there is a massive down side too. Failed CEO Kris Marszalek has allowed competitors to get in to a much stronger position to tackle the same core business space that Monaco intends to occupy.
On top of that failed CEO Kris Marszalek has spent millions of the ICO funds on unnecessary expenditure such as purchasing
crypto.com domain, hiring new staff, releasing useless exchange apps, pathetic press releases and expenditures related to the "development and testing of the cards" including travelling around with all expenses paid trips from the ICO funds going all over the Far East to make test purchases with the test VISA cards therefore the funds to fight back against competitors is already diminished because of mismanagement.
Add to that they the ICO was oversubscribed, they received 71,000+ ETH which was around $26 million at the time. Thne failed CEO Kris Marszalek decided to change the rules and diverted from the whitepaper. It clearly stated 3,333,333 tokens were to be created and that the founders were keeping 833,333 for themselves but they created 31,587,682 MCO instead and NEVER explained to anybody how they were going to be split.
The pathetic user that I have on IGNORE, I only read his post because it shows in your reply. He claimed there are live Q&As with the team but he is writing nonsense. Those questions are sent to the Reddit team in advance and get picked out, censored and filtered then are put forward to the "team" that give out a video response.
Their failed CEO Kris Marszalek and his "team" have all become multi-millionaires overnight thank to the ICO without declaring how much they own and without explaining why no financially linked bonus milestones were added in to the whitepaper so if they failed to achieve a milestone such as releasing the cards in a particular country by a particular date then they would forfeit a percentage of their Founder MCO tokens.Users such as the pathetic one you replied to attacks users for posting here but cannot ask failed CEO Kris Marszalek about his failures and delays? He claims Reddit and Discord are active and stated that MCO users are not really active here yet he continues to post here? Easy to understand why I had to have that fool on IGNORE. He is a "newbie" using multiple accounts.
============
ORIGINAL WHITEPAPER 2017
8.3. Example – total MCO issued and MCO in circulation
During the Token Creation Event, we imagine that exactly 1,000,000 MCO are created in response to
incoming payments.
After the Token Creation event ends, the following additional MCO are created:
• 1,000,000 MCO for the Reserve
• 833,333 MCO for the Founders
• 333,333 MCO for the Talent Pool (future hires)
• 166,667 MCO for the Advisors
In total, 3,333,333 MCO are created of which 1,000,000 MCO are transferable upon the completion
of the Token Creation Event.
If at some point, $3.33 million worth of tokens are held in the Token Asset Contract, and no MCO
have been burned. Each MCO would receive $1 worth of tokens if burned.============
You are right, it still unclear if there will be cards sent out to users in Singapore or elsewhere. Maybe those continuing to believe in this so far unsuccessful project might look silly if there will never be any cards, it is 15 months delayed at the moment.
