This will end badly...
We said it long time ago...
Topic: Monaco Visa ICO - tomorrow - latest scam? - page 3. (Read 28114 times)
@JollyGood
Yes, I agree that team is kinda slow, and they broke lots of promises. They also used raised funds for lots of different things, and crypto.com costed them probably way more than $1.5M (IMO something between $5M-$10M), but this is another story. The app is ready and I think that fully functional cards will all be send to users in coming months.
Yes, I agree that team is kinda slow, and they broke lots of promises. They also used raised funds for lots of different things, and crypto.com costed them probably way more than $1.5M (IMO something between $5M-$10M), but this is another story. The app is ready and I think that fully functional cards will all be send to users in coming months.
This was being said in this thread in July 2017, a whole year ago. The delay shows the Monaco Team are useless. Fully functional cards should have been sent out 12 months ago but they blamed the delay on VISA taking time to give them partner status. For a whole year they had no excuse for delay but they were probably too busy spending large chunks of the $26 million raised from the ICO on their busy shopping sprees buying designer label clothing and jetsetting all over the place because they have no accountability to show where the funds were spent.
I wish I shared your optimism but I do not.
@JollyGood
Yes, I agree that team is kinda slow, and they broke lots of promises. They also used raised funds for lots of different things, and crypto.com costed them probably way more than $1.5M (IMO something between $5M-$10M), but this is another story. The app is ready and I think that fully functional cards will all be send to users in coming months.
Yes, I agree that team is kinda slow, and they broke lots of promises. They also used raised funds for lots of different things, and crypto.com costed them probably way more than $1.5M (IMO something between $5M-$10M), but this is another story. The app is ready and I think that fully functional cards will all be send to users in coming months.
Thank you for the link, it helps satisfy that Monaco is not a scam. I appreciate it but it does not take away from the fact their team is pathetic and useless.
After questioning their tactics last year I was told their cards would be sent out in August 2017. Many people that participated in the bounty then decided to flood the thread with great reviews about how wonderful Monaco was and to give them time so I stopped posting. A year later they have not sent out even one card, none of the investors are entitled to get their money back.
Ok I accept Monaco is not a scam but when then the Monaco team use $1.5 million of investors money to buy a domain name (crypto.com) without their consent then it means the team has acted in an irresponsible manner. If customers and investors have no product a year later then it means the team is hardly covered in glory.
I have no doubt the Team has taken a share of that $26 million and used it to pay for their salaries and 'admin expenses' which could mean anything from paying the electricity bill of their office to hiring yacht to sail away for a week to have a team bonding session.
Monaco Card the product might not be a scam but the team behind it seem like scammers to me unless they produce a breakdown of dollar-by-dollar account of where they spent the $26 million worth of money raised in the ICO.
The Medium link shows they allegedly tested the card in Hong Kong and Taiwan. I have no doubt the money raised in the ICO was used to pay for their flights, hotel accommodation and ALL expenses !
After questioning their tactics last year I was told their cards would be sent out in August 2017. Many people that participated in the bounty then decided to flood the thread with great reviews about how wonderful Monaco was and to give them time so I stopped posting. A year later they have not sent out even one card, none of the investors are entitled to get their money back.
Ok I accept Monaco is not a scam but when then the Monaco team use $1.5 million of investors money to buy a domain name (crypto.com) without their consent then it means the team has acted in an irresponsible manner. If customers and investors have no product a year later then it means the team is hardly covered in glory.
I have no doubt the Team has taken a share of that $26 million and used it to pay for their salaries and 'admin expenses' which could mean anything from paying the electricity bill of their office to hiring yacht to sail away for a week to have a team bonding session.
Monaco Card the product might not be a scam but the team behind it seem like scammers to me unless they produce a breakdown of dollar-by-dollar account of where they spent the $26 million worth of money raised in the ICO.
The Medium link shows they allegedly tested the card in Hong Kong and Taiwan. I have no doubt the money raised in the ICO was used to pay for their flights, hotel accommodation and ALL expenses !
where do you see that first cards where sent ?
Exactly, no cards have been sent. This seems a scam.
Not send yet, but working cards was delivered to the team, and they have been testing them - check their medium blog post about it.
Also they added new 5000 MCO lockup white card, and changed colors of 500 tier ones.
MCO is not a scam and you guys really need to get over it, like seriously.
where do you see that first cards where sent ?
Exactly, no cards have been sent. This seems a scam.
I no longer believe in projects that give us cards with a bank account and access to fiat support. Already a lot of projects showed their inability to implement this idea, the reasons are more often that Visa and MasterCard against the crypt.
Looks like Monaco really did it 
There were many doubters (myself included) but seems like they will deliver it finally
There were many doubters (myself included) but seems like they will deliver it finally 
where do you see that first cards where sent ?
It was clear that these kind of card projects would be never successful. Because there are big companies such as visa and mastercard in this market. It is not easy to fight with them to dominate market. So there will be no hope for these projects.
You guys better check the latest news, cause first cards have already been delivered and tested. Also Monaco rebranded do MCO, bought crypto.com domain and looks like they will start other crypto related projects soon.
It was clear that these kind of card projects would be never successful. Because there are big companies such as visa and mastercard in this market. It is not easy to fight with them to dominate market. So there will be no hope for these projects.
Yes just nonsense projects that make the "team" very rich as they do not have to account where the money was spent and opens the way for fraud
Payment solutions were all the rage last year: Centra, TenX, Monaco, etc.
Where are they now?
Centra is in jail, Monaco is dead, and tenx is barely hanging on.
Yes, last year, the idea of being able to spend your crypto in your daily life sounded wonderful.
But people forgot the most basic fundamental thing about the crypto market: volatility.
who on earth would want to spend their btc on a bowl of noodles when today it will cost $5 and tomorrow it might cost $8.
Of course, it goes the opposite way too, that .0000001 btc you spent could be worth half of it just next week.
On top of that, regulations are an absolute mess.
Well, the lack of clarity on regulations make it an absolute mess.
There are very few jurisdictions that even have legislation in place for something like this.
Where are they now?
Centra is in jail, Monaco is dead, and tenx is barely hanging on.
Yes, last year, the idea of being able to spend your crypto in your daily life sounded wonderful.
But people forgot the most basic fundamental thing about the crypto market: volatility.
who on earth would want to spend their btc on a bowl of noodles when today it will cost $5 and tomorrow it might cost $8.
Of course, it goes the opposite way too, that .0000001 btc you spent could be worth half of it just next week.
On top of that, regulations are an absolute mess.
Well, the lack of clarity on regulations make it an absolute mess.
There are very few jurisdictions that even have legislation in place for something like this.
SCAM
Monaco card seems to be a huge scam, raising all the money from the ICO and then not doing anything apart from making a glossy website and spend $1.5 million of the ICO funds to aquire the crypto.com domain
Monaco card seems to be a huge scam, raising all the money from the ICO and then not doing anything apart from making a glossy website and spend $1.5 million of the ICO funds to aquire the crypto.com domain
Looks like the Monaco team made huge changes, acquiring crypto.com address and changing the focus to non tech savvy crowd, rather than crypto veterans. This may be a good move business wise, if they manage to lure lots of users to their card, app and token. I'm very curious how will it develop.
Monaco Rebrands as CRYPTO.com to Accelerate the World’s Transition to Cryptocurrency
Consumer facing products, including card and wallet app, rebranded as MCO https://medium.com/@MCOCrypto/monaco-rebrands-as-crypto-com-to-accelerate-the-worlds-transition-to-cryptocurrency-6497e15c1db4
Consumer facing products, including card and wallet app, rebranded as MCO https://medium.com/@MCOCrypto/monaco-rebrands-as-crypto-com-to-accelerate-the-worlds-transition-to-cryptocurrency-6497e15c1db4
I did not understand why the price of these tokens are so high.
Let's wait to see the product when is ready if will be ok.
Let's wait to see the product when is ready if will be ok.
Oh, it is a desperate move to announce on such short notice, either a scam or a very fool move they made. I hope someone can gather reliable information on this matter.
Maybe I guess they just hear what people say, do not prove it and see it for themselves, if you want to say it like that you have to give proof so everyone knows and believe what you say is true.
Yes, this project and TenX have no formal agreements with Visa, although they say the opposite. Why does Visa need competitors at all? Cryptocurrencies take part of their profits.
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