Here's an example since you guys don't seem to be capable of Math.
Assume you own 10,000 MCO tokens. That is 0.001% of the total supply.
Now fast forward about a decade. MCO has become a giant and earns a yearly revenue of 1 Billion USD in platform fees (transactions, ATM withdrawals, conversions, etc.).
Since you own 0.001% of the tokens, you are entitled to a share of 1 Million USD.
This is what was promised and will no longer be delivered. And Kris says this is "pointless", which makes him either clueless, or dishonest. I hope it's the first and that he's going to find a workaround for this, like SONM already did, but I'm not having any hopes for this after his statement.
have to agree , this coin got me for $1,500 yesterday just in the time I took a walk with my kids... my fault for forgetting to set a stop. It wont burn me again
I'm probably ditching too, the new video is a massive disappointment.
https://www.youtube.com/watch?v=VjOL8rOC0o0That example doesn't hold unless there's >100k new cards every year forever. Once the amount of new users starts stagnating the token value will dump. And that's ignoring long-term investors who were specifically waiting for Billions of annual revenue 5 to 10 years down the line.
It's simply not true that the new model (which is the old model minus sharing revenue with investors/token holders) is "mathematically proven" to be better. It's mathematically obvious that it's worse and such a gross misrepresentation of the Mathematics of this issue shows either a complete lack of competence, a lack of rigor, or a complete lack of honesty.
Everything else so far is just smooth talking aching to cold call insurance sellers.
And I didn't even get started about the massive risk for extreme market manipulation once the supply gets too small to fulfill orders. The amount of tokens required for reserving cards will have to be adjusted, which will have a massive impact on the price. And we all know whose interests centralized authorities usually satisfy in those situations: their own.
This token will only appeal to those who value relationship with established financial system. The platinum card product benefits as advertised will drive growth of card usage and will be valuable for card holders. If i'm understanding correctly, the value for token holders only (with no card) will be linked to the value of other crypto + fiat used in the exchange rate process. MCO coin is an intermediary 'tool' to enable purchase in store and online at Visa merchants with no fees for crypto or forrex. The savings plus the cashback will drive usage. I would also expect future In-App features (like Android/Apple Pay/Paypal). I see this market be mading up of 1) people who earn revenue via crypto, 2) frequent travelers 3) people who love collecting points / rewards (above 50% of Visa customers don't carry a balance and transactors who use the cards for convenience and points...most Platinum cards have annual fees ~$120 plus the forrex and ATM fees etc.
Seems like a big market. Looking forward to the first card usage reviews in Asia.