I can't believe you idiots are dumping hahaha! The Ruby Steel card currently has around 20.000 reserved cards...

I can't believe you idiots are dumping hahaha! The Ruby Steel card currently has around 20.000 reserved cards. Every one of those need to lock up 50 MCO each for 6 months. That's a lock up off 1 MILLION MCO. There is only 9.8M in circulation. I'm not even talking about the other cards. But they are basically locking A SHIT TON of MCO tokens for half a year. The big VISA news from now is nothing compared to the locking up.

The rise will be steep my friend. I'm so buying this dip hahaha IDIOTS

thanks for holding my bags. later

Yes please I would love some.
You are really all idiots for selling now. Really

Growth curve will be exponential

Sure seems like asset contract had an impact on the value. kek

Does anyone know if the number of MCO tokens is set? I can't find confirmation they won't ever issue more tokens.
It did. It was actually quite a huge deal long term.

I was just commenting on the pic in Kris tries to tell everyone that asset contract wasn't a big deal and wouldn't impact the price actions. I hope he's right and this is just a temporary dip.

>Kris tries to tell everyone that asset contract wasn't a big deal and wouldn't impact the price actions. I hope he's right and this is just a temporary dip.
It makes the token worth significantly less.

The news about Visa isn't even a day old yet. Let's see what the demand is like for their cards, maybe the 6 month lock up can remove enough tokens from circulation that it brings up the price.

Lol no, it's just a small portion. Locking up millions of MCO tokens has a much bigger effect on demand & supply. The supply will dry up and price will rise. That measly % of the transaction fees we are getting is peanuts.

That's pretty much what I said here

No, it wasn't. 1% adds up. If Monaco card holders did 1 billion in purchases, 10 million in crypto would be added to the smart contract. That is every year. It adds up to a lot. MCO is close to worthless now. It is literally an unnecessary token that only derives value if people use it. Which they won't. This is one of the few times that biz is right. I'd dump this immediately.

You forget that you have to burn your MCO tokens once you want to cash out your dividends. So you loose your MCO so you better make sure your dividends are worth more than your tokens.

>only derives value if people use it
But people will use it? That's how you get the non-shit tier cards. With monaco. If the demand for these cards grows, and the MCO used to purchase them gets locked up, what do you think is going to happen to the price of the circulating supply?

It might go up a little but sense the tokens are only locked up for 6 months it won't do much.

Price is driven by demand.

The current circulating supply is 9.8MM.
There are 17,000+ cards pre-ordered.
This is 850,000 tokens, at the very least (Ruby cards).
They haven't done any marketing yet. Let's assume that another 83k cards get preordered (total of 100k) within the next few months. That's 5MM tokens, more than half the supply gone.
I'm not trying to shill, but the math adds up.

THIS

If we're going to be optimistic I wonder what their crypto pool for token redemption will look like in a couple years.

There's always a dump before the rise.
Worry not. People dumped Eth at $2 and BTC at $10 before.

This dump is different. They've removed a core feature from the token, upsetting majority of their community. I think it's largely a misunderstanding, but I can see the price going much lower until it is fully explained to normies.

let them get upset, fuck's sake lol, they'll be back buying in at $50 and $60.

I'm just saying... that's what's currently happening. I also sold my MCO to get back in at a lower price.
You should see the shitstorm on monaco's subreddit right now.

Yeah, meh, I've seen worse.