Topic: Monaco Visa ICO - tomorrow - latest scam? - page 11. (Read 28114 times)

Hi Everyone,

I'm Kris - the founder of Monaco. Just opened an account on Bitcointalk to answer all the questions you may have regarding our company and the token sale.
We'll be posting a thread shortly...

I think we have to start by acknowledge, that:
- in hindsight, we should have had done a few weeks of pre-marketing to make a good first impression on the community
- we are late with even the basic stuff - like posting ANN on bitcointalk
- but at the same time, we are very happy with the results so far with our minimum being hit in under 2 hours and that we hit 10,000ETH milestone during the first 24 hours.
- we think since we had zero pre marketing ahead of ICO launch, the results are amazing and the only reason behind it is simply our product: people love the Monaco Card & App
 
In terms of addressing the single most common question: why only 1 day notice. It's actually pretty simple. The single thing that pushed us to launch ahead of our original July schedule was a competitor running towards an ICO with a 90% same value proposition (FX+crypto). Our CFO was at an event at VISA Innovation Centre in Singapore on 11th of May, where he ran into another founder, who basically told him what they're working on and that their ICO is going to launch in June. We made a judgement call to finish working on our ICO within a week and launch, then spend the next 30 days to gradually build exposure and increase our brand awareness, so everyone has plenty of time to get to know us and do their due diligence.

Naturally, we had no idea people would think this is a scam.
- we've been working on the product for almost 1 year
- we have very experienced team of entrepreneurs (I sold my previous business for US$21m in 2013, our CFO is ex-Mastercard)
- we have serious heavy-hitters on our Advisory Board from companies like AWS, VISA, Adyen, Emarsys

I guess to a certain extent it's a function of us not understanding how does this community think and operate. We're learning fast and we're committed to being open and transparent, so that everyone can have their questions answered. I will be here and on our ANN thread answering all the questions you may have. I also encourage those who find our project intriguing to join our slack channel: https://monaco-card.slack.com/ - it's growing steadily and is probably the most convenient way to get to know us personally.

Kris

 

14k ether right now

https://etherscan.io/address/0xf9a5e0436c01cc15708449e480fa5f2d6a5b55ca#internaltx

Nice catch. Im going to wait and see without prejudging.

The visa reference has been removed.. iam unsure about the validity of this project.

If it's legitimate and not a scam, I can't understand why they would try to do it with such short notice.

I'm thinking possibly they were worried about being overshadowed by tokencard maybe?

This will end badly...

So : A website with many stupid javascript, showing hype credit card, you send yourself many ETH to create FOMO, nothing more to take thousand dollars ?

I totally agree,legit project do their ico with at least a two weeks notice to prepare people and answer all question about their ico and of course to prove that they are a legit ico they do all out marketing,something fishy really going right there,I don't recommend investing in this kind of ico.

Sure it is new, it is ICO (MCO). I like the card by the way. It is a nice card.

It is new (it is ICO), there is always risk on ICO (or they call it MCO).
I dont think it is scam, .... otherwise I think it may be (very) interesting.

Never heard of it. I am impressed that they have a team section on their site, maybe you can contact them directly.

yes,, and now they got is about 10,253 ETH,,
this is crazy,
people who invested there, without any detailed informations about the project..

Nice website means nothing. Any competent web dev could make this in a day or two.

We will see what happens in 30 days. Hopefully not a bunch of threads people crying they lost all their money to ICO scam.

really look like TKN .... website, design and stuff... shady

https://www.youtube.com/watch?v=c1djYiCtiRY


Which is funny because there's no limit on supply, people can contribute for 7 days with no limit if the soft-cap is reached...

On top of it they may have a second token sale in future...


https://mona.co/monaco-whitepaper.pdf

Scam or not, worst structured ICO I've seen, no point in investing when no limit and almost immediately trade-able.

well poop... it looked nice... but good info.

Indeed. Does an ICO ever work (was not a scam and people make benefits) without bitcointalk real thread ?

click internal transactions. they are today. poor people.

"Starts 18th May, 9:30am UTC" all this transaction are 3 days ago, the 15 may.

reason = common sense. others can spend more time investigating and determine their own reasons.