Topic: [MCO] Unrealistic Expectations? (Read 1396 times)

I do not believe in MCO scam, this is just nonsense.
MCO prices are perfect for altcoin traders. And this is very interesting.
There are always people who say dishonest to good coins, to make panic and affect the market.

I know it from the first time i see the thread and the way they act. It is only time will tell us how the team will get out from this scam.

They only want pump and dump coin. They promise visa thing..but untill now ? What ?

Yes the rocket has lifted.  I think the visa deal went through, and somehow that leaked to a whale and they're stocking up.  Massive buying trend confirmed, first pump had no dump, second pump already taller and hasn't let off yet.

BTW I've changed my opinion about MCO being a scam.  It's not a scam but there's a lot of misinformation out there and this bit I was replying to in this thread was provided by a drunk non-employee supporter of MCO so go figure, it was wrong.

I'll probably be deleting this thread in the near future, but I wanted to give the MCO people a chance to come respond first if they want.

https://bitcointalksearch.org/topic/m.21463801

Guys, mark my word. Scam or not, you'll make 100% return within a month if you buy MCO now. I guess we're all here to make money, but not to write an academic paper on crypto payment card!

The pump has begun!   

Ha!  Ok well you jumped the shark in the second sentence.  I've never been to the TenX slack and I hold both TenX and MCO.  If I have a coin pay card I personally like, it's Shift.  And just because someone has a problem with the ridiculous things MCO says and does doesn't mean it's because they support some other option.  Your statements are ridiculous.


Again, never been to TenX's slack, and I don't know what a TenX calculation is.  And it doesn't matter how many are in circulation, 30 million is the total number.  Guess who has the other 20 million?  MCO founders, and as of tomorrow, they're allowed to sell it.  Don't worry though, Kris said he'll "consult the MCO community" before doing so.  What a relief!




$9 * 30 million = $270 million yearly in rewards.


WRONG:  $27 Billion a year COLLECTED IN CC TRANSACTION FEES.  Only 1.9-2.0% of CC transactions are fees.  And because Monaco uses a reseller for their Visa plan, they don't get all of that.  Probably more like 10-20% of it.  So 270 billion, in fees.


Not even close.  270 billion * (100 / 2.0) = 13.5 Trillion to 270 billion * (100 / 1.9) = 14.2 Trillion

NEVER GONNA HAPPEN.


Says the guy that does not know how to spell mathematics.  *smh*



PUT. THE. BONG. DOWN.

BTW: How's MCO looking today?  You like that app?  HA

I currently don't own TenX nor Monaco although I suppose I could be lying. What is irrefutable and agnostic:

Let’s say the TenX or Monaco card is a Visa one. Every time the card is used the merchant that received the money pays a certain amount of fees.

For $100, the merchant is going to pay $2 of fees (example),  and larger retailers pay far less than 2.25% or whatever most people thing the going rate happens to be. These fees are going to be distributed to 3 stake holders:

1) The bank the merchant is working with
2) Visa that has the tech to allow the payment (card and card reading machine)
3) The Credit Card Issuer (MCO or TenX...insert crypto card issuer here)

#1 will take $0.4, #2 will take $0.4 and #3 will get $1.2 and that $1.2 is on the high side.

The math is undeniable and the figures don't support what MCO or TenX are valued at. That said, valuations across all of crypto are stratospheric and not sustainable without revenues at some point.

What I don't particularly like about Monaco is that they've attempted to give everyone the impression that they're aligned with Visa but they are not. End story.

What I'm not crazy about with TenX is its 400mm plus valuation which I could easily break down.

MCO will bite the dust very fast now. There's way too much instability going around for it gain any momentum.

This seems too good to be true.

The visa deal turned out to be a joke too, price is tanking

Its not suprising to see a TenX supporter with incorrect calculations. I know your a TenX supporter as i see you in TenX slack often trashing MCO. Lets do some correct calculations. Currently there is 10 million MCO in circulation not 30 Million, and 30 million wont be for a long time, and you know this because when you are doing TenX calculations you always state 100 million.

For $9 per token to be possible which really is,

$9 * 10 million = $90 million yearly in rewards.

$90 million * 100 = $9 Billion a year spent to achieve $90 million at 1% rewards.

The end, $9 billion spent yearly to achieve $9 per coin at 1% rewards.

Your calculations look like someone with no common mathmatic knowledge calculated them. You multiplied by the 100, then again by 50 for no reason. Its not 1% of their 1-1.5% interchange fee, its 1% of the total transaction just like TenX .6% of the transaction. In the TenX chat you guys believe you will get $50k+ a year with 100 million coins and calculate numbers of near 1 trillion yearly spending, but cant calculate 10 million tokens at a higher percentage.

Also congratulations on stating TenX and Wavecrest information. MCO is not using Wavecrest they are using Wirecard which is a large operator in the United States. This allows them to operate in the United States without issue, unlike TenX which needs to find a new 3rd party (probably choose wirecard too) so they can continue operation after October 15.

Its funny watching you guys in TenX slack thinking you will achieve this, but then you try and spread false information because another company is offering a faster release (if they release) than TenX which you like to ride.

Another thing: as far as I remember you will not receive any fees for your tokens until you burn them, so you could do that only once.

Coin prices are too easily manipulated to use as a metric of it's long term viability.  Enough money thrown into the Ask window will raise the price, it works with any coin.  That's why the MCO prices are so unstable, they're fake.  They propped up the value to entice new bag holders in at crazy high rates, now those bag holders are underwater, don't want to sell, and that's holding up the value... for now.  But since the coin never really had a viable reason to be trading so high, gravity will take hold over time.

How can you say it's a scam, I see MCO with a good and high selling price, maybe you have not followed its development in trading, because since yesterday MCO price is unstable, but I think it makes sense, because in trading there is a time. for them to raise prices and also get very low prices.

I haven't seen much fud around either; its definitely volatile right now though.

Someones manipulating the price alright, but they're doing it by buying up several pages of sells at a time to create the illusion of growth and raise the buy offer until the illusion becomes reality.  But without legs to stand on, the bears will tear it down every time, so they do, they take their profits, and the same dump truck of money comes back to prop the price back up again, and the process repeats.

I actually haven't seen much MCO fud.  I'm probably the most vocal MCO critic I'm aware of and it's not like I have a huge audience.

I wish MCO holders the best of luck, truly.  I have some myself.  But I think there's some pretty glaring issues to address.

Its unstable because of 2 reasons, there's someone spreading fud and a whale(s) are trying to manipulate the price to force those with weak hands to sell  at discounted price, that way they can buy and sell later and another reason is the dollar value of Bitcoin. That also have an effect not only on MCO but across all altcoins.

Well he didn't work for MCO but he was a mod in their community chan.  Kicked for 'spreading FUD', which is reasonable I guess I was.  But it's not FUD if it's true, it's reality.  And I was actually being pretty restrained.  They're just upset that MCO is tanking hard when it's supposed to be mooning.  It's going to be a very sad week for them.

What part of the math looks wrong to you?

One thing I just thought of is my math is based on the idea that of the 1.9-2.0% of the CC fees, Monaco would get all of that.  Obviously, they wouldn't.  They get their Visa deal through a reseller, so I don't know what percentage of those fees they get but it's definitely not 100%  Even if it was as high as 50% (unlikely), that still doubles the volume I estimated.  More likely they get maybe 10%.  So they'd need to process 100+ Trillion per year to make that a reality.

I don't think it's a scam, but the price is very unstable.

Is the developer of monaco project has told you about that? It seems just another troll by the slack users in monaco slack. I mean you get it wrong about the calculation. That was just another troll, i look at some of the sentences that makes me feel pretty strange about the statement.

The Monaco slack op just told me, literally, 'buy 10000 MCO and you'll never have to work again'.  

'$90,000 a year forever'.  

Let's do the math on that.  For one, currently 10000 MCO = $200,000.  That's a lot of money to wager on speculation that MCO card volume will ever reach the levels necessary for 1 MCO to return $9 USD per year.

What would it take to achieve that in terms of CC volume?

1 token of 30 million, so 1/30 millionth of 1% of the card fees.

9$ * 30 million * 100 = 270 billion in fees, per year, to make that happen.

typical CC fees = 1.9 - 2.0% of each dollar spent via CC's

270 billion times (100 / 1.9 = 52.6) = 14.2 TRILLION per year in CC transactions handled by Monaco cards to make the '1 MCO = $9 a year' statement true.

To clarify, last year the entire United States spent, on all credit cards, all transactions, roughly 3.2 Trillion.

MCO is at this point not approved for use in the US, or India.  So Europe is basically their market.  

MCO would have to be the only card used by anyone in Europe, and they would have to spend collectively 450% more than America does for MCO's estimates to be true.

But they're still pushing this concept that buying 10000 MCO means you won't need a job anymore.  More realistically, 1 MCO might get you $0.09 cents per year, so 10000 of them would get you $900 yearly from an initial investment of $200,000.

Sounds like a ponzi scheme to me.  MCO is one 'referral system' away from being the Cutco of credit cards.