Topic: NULL - page 160. (Read 456163 times)

Bro

Very rightly quoted the reply which is well said. If someone is not happy with Monaco they can sell their tokens why come on this forum and create FUD. Go to their competitors and be happy there. Ultimately all markets are risky and one should understand that if a token moved up does not mean it is going to keep going up ever like Bitcoin as that was the first cryptocurrency and it created the blockchain concept which is excellent hence it keeps moving up and up

regards
Balaji

Just going to quote myself here for this noob:

Following for future update

Anyone sending $ to an ico anymore is an idiot, me included.  20 pages of white paper just to say we have a plan with your money like going to conferences around the world so all us icoholes can talk to each other and give pats on the back,, total crap.  I gave money to a real estate ico and first thing they do is get an office.   They have no income stream but hell y not start spending it and accumulating monthly expenses an obligations. Like getting a headquarters. 
You know what would be the best idea.  Take the money put it in a a wallet and a few years later give it back.  thats it   that is all you have to do.   people would line up around the block to invest next time.  But these dumbtards keep tripping over their own junk and cant grow an idea for the life of them. 

Offering dividend payouts would have brought the tokens under government oversight and regulations, so yes, it would be a legally binding contract much like owning company shares and getting payouts based on the number you own, is also a binding contract.

Buying a "token" of course does not enter you into a contract with a company. Nor does a random "smart contract" have any legally binding implications.

It sent and support in thailand?

Soon we see what is happend with Monaco.

I expect a rise of he price after the first people got their cards and the system works.

Monaco have and this is my opinion,  a very good future.

I know exactly what they did as I was with monaco since ico and as early investor, I'm dissapointed by their move. Telling the truth here doesn't mean i'm trying to fud for mco competitors. Smart investors knows, what I'm talking about and if that doesn't fit to you as a daily based trader, then I'm sorry. People will do what's best for them anyway and I don't see any reason why we should not mention contract removal and talk about it....this is still crypto forum site...

hence why this project is a huge vaporware piece of shit LOL

Most people do not take the time to read the fine print. Pretty much by buying tokens you expressly agree to have 0 rights or connection to the company. ICOs are the ultimate safe haven for fund raising since users who participate sign away their life when they get the coins.

Hence why due diligence is so vital...

LOL. A "legally binding contract"? Are you joking? Offering an asset contract is in no way, shape, or form legally binding. Buying a token does not enter you into a legally binding contract with a company. What a ridiculous thing to imply.

only advantage of tenx is that they have sent few cards and that's all. Monaco is still better in any other aspects

Lol, buy name monaco and sell false promises Tenx already have working card (and it was race together), while monaco just false promises, soon it will be 1 dollar !!

The token value is strongly correlated to the number of users on Monaco platform. Every single holder of Monaco Platinum card needs to hold tokens and will also earn MCO through up to 2% cashback on all transactions. Utility of the token will increase over time - an example cited in the recent Q&A is discounts on fee when paying with MCO.

All of the above has much bigger impact that the Asset Contract. It's our view that the sell off on the day of Visa announcement was driven by technical trading, i.e. people waiting to sell on the day of the Visa announcement, rather than the news of Asset Contract removal. Having said that, we understand this is an important matter for the community and are looking into rolling out a replacement that will be fully compliant and not carry any legal risks that would potentially negatively impact token holders. 

If you don't have to explain, why do you explain anything?
If you are so sure that the MCO token will be worthless, just stay away from the project.
You are so preoccupied with the legal matter that you don't even understand that it is the legislator that has to adapt and evolve legally, and NOT the other way round. Why don't you counter the Ethereum project with the same intensity? It was just a token, and the ICO created out of it may have even been met with perplexities, and yet what happened is still contributing to having the rules changed. JUST A TOKEN, MY ASS. What happened to the legality of it? The legality is dictated by the people holding and trading tokens. The more people there are around animated by these intentions, the more the legislator will have to elaborate on this reality and produce rules that reflect the reality itself.

You are so arrogant and stuck in your mental rigidity that you don't even think that an IPO doesn't mean anything. It's not the legality of it that makes it legitimate. It's the people that started using such instrument and participation modalities.
You are just dedicating some of your time to spread fear.

Lawmaker's task is to stay put and observe the goings of a new reality coming into existence. After collecting all the necessary pieces of information, he will, if he is able, form a legal environment for market tokenization to work more smoothly than it is at the moment. The lawmaker just has to have the skills and critical mind to describe how the situations involving tokens are working out.

If you are not interested in the Monaco project, please stay away and stop predicting the future. You are not able to.

Couldn't agree more with ur statement
Only way to make the dev take note of this is by dump the coin drastically .
The question is
Hw r u up to this ?

Wow, this enlighten me and I guess some other coin holders. Monaco having the contract on Visa, made real money from investors. It is true that with real life contract, they should not associate their company that will put them on situation that governments will run after them. Thank you.

Glad to see some more people stepping up to the game of shedding some light in this zombie-like "to the moon" darkness. Was starting to get a little lonely.

Bravo! Finally, someone with sense and critical thinking!

I dont have time to explain to you how naive you are, but in short, the removal of the smart contract means that Monaco is not legally responsible for anything associated with the "Monaco token".

Saying they did it to avoid de-listing from exchanges, is the magic excuse for them to decouple the token away from the company entirely.

Simple examples of random scenarios:

Monaco gets a 1 billion dollar investment from whoever -> Monaco token is not tied to the company in any legal way shape or form, so it wont benefit from anything like that.

Monaco sells more cards than they have "available tokens" -> Monaco token is not tied to the issuing of credit or debit or gift cards in any practical way. No company needs a "token" to be "held" to issue a card. Monaco can issue an infinite number of cards at will, without using the Monaco token in any way. There's no laws, nor are there any binding contracts (hello!) that says they must use Monaco tokens for anything going forward.

The actual "token" has no practical use, only an artificially made up one -> It is not a "system" that does anything. The BIN from VISA is important, and is an actual "system" without which Monaco would not be able to function as a card issuer. The "token" system from Monaco is literally a useless guise to raise money without selling company shares. Its essentially like going on "Dragon's Den / Shark Tank" tv show and saying "I need 25 million dollars from you guys, and instead of company shares, i will give you these keychains that i may, or may not,  buy back (depending on demand), once people start buying my product"

The "token" is not a company share - Success for Monaco is great for company owners. Token holders are not company owners, and rely on the company, without any sort of regulation or binding contract, to somehow make them "rich" out of the goodness of their hearts and keep their promise (track record in regards to that is not very good at the moment)



Most investors are well aware of an attempted work around, but falling short of a legally binding contract that would expose them to government regulation (which it wont be, no matter what they come up with, because they're not stupid) the token is based on a faux system that has absolutely no use in the real world. (what other crypto cards require to artificially "hold" tokens to get a card? When's the last time you heard VISA ask you for $500 to "hold" for 6 months to give you a card?)

For even more fun, you need to realize that only specific current metal cards, not their basic (or future) Monaco cards, require holds on tokens, and the majority of people will have the cheapest one, requiring 50 tokens. Add to that the hold cycle of the tokens, add to it the total number of tokens including those not in circulation, and you'll see that unless they have an absolute constant number of hundreds of thousands of people signing up every few months, they'll never even get close to hitting the token cap, in order for you to have a high scarcity of said token.




People waiting for this to "moon" are delusional. Even current pricing of $6 USD is ridiculous for what it offers in return and how de-coupled from company success, it is, at the moment.

If Monaco comes out tomorrow and says they'll buy out the tokens at the IPO price, or not at all, while also having their un-needed ecosystem go dead, there's no legal recourse for you.

Also, if Monaco ever goes public with a legit IPO in the future, they'll completely have to get rid of any possibility (even perception of such a thing is damaging) of being legally exposed in any way, to a class of "non-investors", which means the death of the token.

Monaco is only good for day traders to sell on news, or for card holders, who legit want a metal card. If you're one of those "to the moon" people, you'll have a better chance buying a lottery ticket, as the token itself is not tied to company growth or success over the long term, and it also lives in an unnecessary ecosystem that only hinders Monaco as a company, going forward, growing from its infancy stage.

On a final note, I dont believe any of the changes were done maliciously, but, given the timing, delays, magnitude, and delivery of the news, it makes me believe that, either the people in charge dont know what they're doing and learning as they go along, or that they're very smart and pulled the proverbial rug from under non-ico holders, before they were legally tied into the token and under government regulation as a result.