Re: Crypto.com - The Pioneering Payments & Cryptocurrency Platform
Have you seen the BS that crypto.com is getting rid of the MCO coin?
https://twitter.com/cryptocom/status/1290174946732175362
What sort of bs is that to just eradicate a coin out of nowhere. The only reason I signed up to crypto.com was to get the visa card so I could rack up some MCO because I saw the potential in it with it's fairly limited supply and the demand was there because you needed to buy it to get the cards so I could see the potential in it as crypto.com grew and people signed up for the card and their various rewards. Now they're forcing us to swap it for a coin that has billions in supply and is never going to be worth as much as MCO could have been.
Has this ever been done before? I guess this is the problem with centralized coins as they can just do whatever they want with them. I wonder if they'll be lawsuits over this as they're essentially just deleting an entire currency on their own whim.
That was bad to say the least. https://twitter.com/cryptocom/status/1290174946732175362
What sort of bs is that to just eradicate a coin out of nowhere. The only reason I signed up to crypto.com was to get the visa card so I could rack up some MCO because I saw the potential in it with it's fairly limited supply and the demand was there because you needed to buy it to get the cards so I could see the potential in it as crypto.com grew and people signed up for the card and their various rewards. Now they're forcing us to swap it for a coin that has billions in supply and is never going to be worth as much as MCO could have been.
Has this ever been done before? I guess this is the problem with centralized coins as they can just do whatever they want with them. I wonder if they'll be lawsuits over this as they're essentially just deleting an entire currency on their own whim.
I think they are trying to retire MCO and switch everyone over to CRO for several reasons. One I heard was for regulatory reasons, because MCO was basically started as an ICO, and those have now been viewed pretty negatively by regulators. A second reason is that MCO is an Ethereum-based token, whereas CRO is an actual coin, with its own separate blockchain. A third reason is that I think Crypto.com structured CRO better for their business model, with the proof-of-stake, the number of coins, and a number of other things. Finally, CRO matches the Crypto.com brand; MCO is from their old, obsolete name Monaco.
You get a better deal with CRO anyways: higher interest payments, for one; and you have to stake less (in fiat terms) to get the same level. For example, before the swap, you had to stake above $2000 to get the green/purple cards; with CRO, it was closer to $1600 at the time of writing.
All in all, it seems better. Of course, as with anything, don't risk your life savings on it.
- A happy-so-far, but still slightly skeptical, customer of Crypto.com