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Showing 20 of 20 results by h3xal
I'm scrating my head about three things, I do not understand. Maybe one can enlighten me, please.
https://blog.tenx.tech/tenx-q-a-livestream-and-transcript-10th-oct-2017-146c826cf66c
1) Do they consider to get rid of cards, if so what is their business then, if not why mention it in first place ?
2) They can't even offer the promised 0.5%, because they themselves may just get 0.25% and also have to cover operations, wages, offices, etc from it ?
3) My last question is the most important one. The only value driver for the PAY token is the 0.5% reward mentioned in the whitepaper as far as I understand. To justify today's token price of $2.46 right now derived from 0.5% of all transactions means:
104,661,310 tokens * $2,46 = $257,466,822.6 need to be collected
To make this happen we need 200 * <$ value of 0.5%> = $51,493,364,520
(close to a third of today's BTC marketcap: $167,024,234,822)
Under consideration that company tokens will get rewards as well, sooner or later (otherwise they would not have any use case or value) it becomes worse as you can imagine: 205,218,256 PAY tokens * $2,46 * 200 = $100,967,381,952
Let's calculate with 12k per person spent via the card in average, quite high, but may happen:
$12,000 * 0,005 = $60 collected (0.5% reward)
So, to collect $51,493,364,520 TenX needs: $51,493,364,520 / $60 per person and yr = 858,222,742 the amount of customer years required (one customer 10 years is equal to 10 customers one year).
Let's take a 10yrs forcast time (valid for some long term investors), it means TenX needs to have 85,822,274 customers spending $12k in average per year, and all company tokens must be destroyed. Otherwise the number roughly doubles to ~170,000,000 customers. If we do the math with 0.25% rewards it is >300 million customers required.
Just to break even on today's token price, while BTC keeps rising. And break even means not to make any profit at all.
=> Why does anyone buy it at these prices ?
Tell me, please, WHAT do I miss here??
* Is my math based on wrong facts and weird assumptions?
* Is there any obviously error I can't spot ?
* Or sth else I'm too blind to see ?
I'm VERY confused, since it seems I miss a few major points and thus look like a fool not getting the actual point.
To be clear: I want a fact-based discussion about it, a major bit missing in my picture, please help me to get it resolved. If you call my valid question just FUD, I'll call you just a marketmanipulator in return, because you are obviously NOT interessted in facts but play with ppl's emotions, only.
Thanks to whoever is willing to point me to the missing bits, much appreciated.
https://blog.tenx.tech/tenx-q-a-livestream-and-transcript-10th-oct-2017-146c826cf66c
Quote
17) If we get rid of cards, will PAY holders still get the reward?
We cannot guarantee the 0.5% on any payment system, because on some payment systems we may not have 0.5% With any new payment systems that we are adding, we may be subject to different conditions. If we only get 0.25% from someone, we cannot forward you 0.5%. That said, we are not intending to remove the 0.5% from the debit card, because the commissions are there.
We cannot guarantee the 0.5% on any payment system, because on some payment systems we may not have 0.5% With any new payment systems that we are adding, we may be subject to different conditions. If we only get 0.25% from someone, we cannot forward you 0.5%. That said, we are not intending to remove the 0.5% from the debit card, because the commissions are there.
1) Do they consider to get rid of cards, if so what is their business then, if not why mention it in first place ?
2) They can't even offer the promised 0.5%, because they themselves may just get 0.25% and also have to cover operations, wages, offices, etc from it ?
3) My last question is the most important one. The only value driver for the PAY token is the 0.5% reward mentioned in the whitepaper as far as I understand. To justify today's token price of $2.46 right now derived from 0.5% of all transactions means:
104,661,310 tokens * $2,46 = $257,466,822.6 need to be collected
To make this happen we need 200 * <$ value of 0.5%> = $51,493,364,520
(close to a third of today's BTC marketcap: $167,024,234,822)
Under consideration that company tokens will get rewards as well, sooner or later (otherwise they would not have any use case or value) it becomes worse as you can imagine: 205,218,256 PAY tokens * $2,46 * 200 = $100,967,381,952
Let's calculate with 12k per person spent via the card in average, quite high, but may happen:
$12,000 * 0,005 = $60 collected (0.5% reward)
So, to collect $51,493,364,520 TenX needs: $51,493,364,520 / $60 per person and yr = 858,222,742 the amount of customer years required (one customer 10 years is equal to 10 customers one year).
Let's take a 10yrs forcast time (valid for some long term investors), it means TenX needs to have 85,822,274 customers spending $12k in average per year, and all company tokens must be destroyed. Otherwise the number roughly doubles to ~170,000,000 customers. If we do the math with 0.25% rewards it is >300 million customers required.
Just to break even on today's token price, while BTC keeps rising. And break even means not to make any profit at all.
=> Why does anyone buy it at these prices ?
Tell me, please, WHAT do I miss here??
* Is my math based on wrong facts and weird assumptions?
* Is there any obviously error I can't spot ?
* Or sth else I'm too blind to see ?
I'm VERY confused, since it seems I miss a few major points and thus look like a fool not getting the actual point.
To be clear: I want a fact-based discussion about it, a major bit missing in my picture, please help me to get it resolved. If you call my valid question just FUD, I'll call you just a marketmanipulator in return, because you are obviously NOT interessted in facts but play with ppl's emotions, only.
Thanks to whoever is willing to point me to the missing bits, much appreciated.
Just my 2 bitcoin cents worth.
Your concerns are valid.
If I understand you correctly, you are assuming that the price of the token will pay for itself in a year.
In a traditional stock, the logic you applied does not exist also; I know PAY isn't a security (maybe) and the reason is that with traditional stock the price is attached to partial ownership of the company too.
But as a retail investor in traditional stock, let's face it, that amounts to nothing unless you own a majority share.
In the same way the "rights" of a retail investor is "like" what we have now as a PAY token holder; nothing.
Humor me for a second and assume we can ignore that fact.
Traditional stock dividend is normally about 2-5% of the stock price, lets put it at 3%.
With that you can use the 3% to back calculate what is the amount of transaction needed and project the amount of users it needs to achieve.
I think that is a more realistic view.
Feel free to correct me.
If I am not using any crypto, then why would I be on this forum?
Your line of logic is unbelievable.
Of course like many others, I am holding some bitcoin, ethereum, dash, litecoin, etc...
I am not going start an argument with you; especially with guys like you who thinks that Singaporeans are going to stupidly buy MCO just to get a card.
When is the last time a bank or any credit/debit card issuer ask you to lock your money with them so that they can issue you a card?
Yeah, sure it makes "sense" for you MCO bagholders but this does not make any business sense from a consumer point of view.
And don't even get me started on the points I mention earlier.
REMEMBER, always always always think from a consumer point of view. Not from an "investor" point of view.
Because a CUSTOMER is where a company makes money from and if you choose to ignore that fact, then I feel sorry for you.
I am not here to intimidate. I am here to educate.
Once again, good luck with your "mooning". You will need it.
Your line of logic is unbelievable.
Of course like many others, I am holding some bitcoin, ethereum, dash, litecoin, etc...
I am not going start an argument with you; especially with guys like you who thinks that Singaporeans are going to stupidly buy MCO just to get a card.
When is the last time a bank or any credit/debit card issuer ask you to lock your money with them so that they can issue you a card?
Yeah, sure it makes "sense" for you MCO bagholders but this does not make any business sense from a consumer point of view.
And don't even get me started on the points I mention earlier.
REMEMBER, always always always think from a consumer point of view. Not from an "investor" point of view.
Because a CUSTOMER is where a company makes money from and if you choose to ignore that fact, then I feel sorry for you.
I am not here to intimidate. I am here to educate.
Once again, good luck with your "mooning". You will need it.
Let me quote what did you said earlier
Quote from: h3xal
No business collaboration with other crypto companies here.
No official business registration here (which means they are operating illegally in Singapore).
No office space here (we cannot reach them physically).
No official business registration here (which means they are operating illegally in Singapore).
No office space here (we cannot reach them physically).
Does crypto that you mentiod(bitcoin, ethereum, dash, litecoin, etc...) have any of these? No, so why are you using them?
Your logic is corrupted, get over it
When is the last time a bank or any credit/debit card issuer ask you to lock your money with them so that they can issue you a card?
true, they only want me to pay for the card and then pay fees for every tx - so much better
You are comparing apples to oranges here.
These are blockchains and they hold their own as currency.
To get them you are required to mine them. They are decentralized.
Monaco is a company riding on these cryptocurrency.
MCO is just a ERC20 token.
Monaco is centralized.
Are you even debating on the core issue here?
Do you even blockchain?
more then you newbie
I just quoted what you said. So please explain to me how ERC20 token can be cenralized when it's running on ETH blockchain which you said is decentralize?
Or do you think ETH is cetralized too?Right, so you think Monaco as a company is "decentralized".
Read carefully.
I did not equate MCO to Monaco.
MCO is a ERC20 token. Monaco is a company.
Whatever man, if you want them to run off with your money like they did to Ensogo, so be it.
You MCO fanboy can be so tenacious.
If I am not using any crypto, then why would I be on this forum?
Your line of logic is unbelievable.
Of course like many others, I am holding some bitcoin, ethereum, dash, litecoin, etc...
I am not going start an argument with you; especially with guys like you who thinks that Singaporeans are going to stupidly buy MCO just to get a card.
When is the last time a bank or any credit/debit card issuer ask you to lock your money with them so that they can issue you a card?
Yeah, sure it makes "sense" for you MCO bagholders but this does not make any business sense from a consumer point of view.
And don't even get me started on the points I mention earlier.
REMEMBER, always always always think from a consumer point of view. Not from an "investor" point of view.
Because a CUSTOMER is where a company makes money from and if you choose to ignore that fact, then I feel sorry for you.
I am not here to intimidate. I am here to educate.
Once again, good luck with your "mooning". You will need it.
Your line of logic is unbelievable.
Of course like many others, I am holding some bitcoin, ethereum, dash, litecoin, etc...
I am not going start an argument with you; especially with guys like you who thinks that Singaporeans are going to stupidly buy MCO just to get a card.
When is the last time a bank or any credit/debit card issuer ask you to lock your money with them so that they can issue you a card?
Yeah, sure it makes "sense" for you MCO bagholders but this does not make any business sense from a consumer point of view.
And don't even get me started on the points I mention earlier.
REMEMBER, always always always think from a consumer point of view. Not from an "investor" point of view.
Because a CUSTOMER is where a company makes money from and if you choose to ignore that fact, then I feel sorry for you.
I am not here to intimidate. I am here to educate.
Once again, good luck with your "mooning". You will need it.
Let me quote what did you said earlier
Quote from: h3xal
No business collaboration with other crypto companies here.
No official business registration here (which means they are operating illegally in Singapore).
No office space here (we cannot reach them physically).
No official business registration here (which means they are operating illegally in Singapore).
No office space here (we cannot reach them physically).
Does crypto that you mentiod(bitcoin, ethereum, dash, litecoin, etc...) have any of these? No, so why are you using them?
Your logic is corrupted, get over it
When is the last time a bank or any credit/debit card issuer ask you to lock your money with them so that they can issue you a card?
true, they only want me to pay for the card and then pay fees for every tx - so much better
You are comparing apples to oranges here.
These are blockchains and they hold their own as currency.
To get them you are required to mine them. They are decentralized.
Monaco is a company riding on these cryptocurrency.
MCO is just a ERC20 token.
Monaco is centralized.
Are you even debating on the core issue here?
Do you even blockchain?
Actually, a lot of monaco card supporters have been waiting for the rise. If the project will do reach the people, even though on Singapore only, that will testify the project is legit. It will be the revelation of all the people working at monaco card project. I do pray it materialize.
As a Singaporean, we will never use a shady card like Monaco.
They have no community base here.
No business collaboration with other crypto companies here.
No official business registration here (which means they are operating illegally in Singapore).
No office space here (we cannot reach them physically).
More importantly, NO CARDS.
All my crypto-friends here do not trust Monaco, don't expect even a decent adoption rate here.
TenX has already taken the space.
Good luck with your "mooning", you guys bet on the wrong horse.
If what you say is true, then it's another black ball for MCO, and this will hurt the project even more than before! But, if it's just a way to intimidate competition, it's not going to work!
If what he wrote is true that means that he is not using any of top crypto currency cause there are all 'shady'
I think we should just ignore this troll. Real test for monaco will be Europe roll out
If I am not using any crypto, then why would I be on this forum?
Your line of logic is unbelievable.
Of course like many others, I am holding some bitcoin, ethereum, dash, litecoin, etc...
I am not going start an argument with you; especially with guys like you who thinks that Singaporeans are going to stupidly buy MCO just to get a card.
When is the last time a bank or any credit/debit card issuer ask you to lock your money with them so that they can issue you a card?
Yeah, sure it makes "sense" for you MCO bagholders but this does not make any business sense from a consumer point of view.
And don't even get me started on the points I mention earlier.
REMEMBER, always always always think from a consumer point of view. Not from an "investor" point of view.
Because a CUSTOMER is where a company makes money from and if you choose to ignore that fact, then I feel sorry for you.
I am not here to intimidate. I am here to educate.
Once again, good luck with your "mooning". You will need it.
Actually, a lot of monaco card supporters have been waiting for the rise. If the project will do reach the people, even though on Singapore only, that will testify the project is legit. It will be the revelation of all the people working at monaco card project. I do pray it materialize.
As a Singaporean, we will never use a shady card like Monaco.
They have no community base here.
No business collaboration with other crypto companies here.
No official business registration here (which means they are operating illegally in Singapore).
No office space here (we cannot reach them physically).
More importantly, NO CARDS.
All my crypto-friends here do not trust Monaco, don't expect even a decent adoption rate here.
TenX has already taken the space.
Good luck with your "mooning", you guys bet on the wrong horse.
Did all of you "To the moon" here noticed smart contract removal?
Did you notice why it was removed and how that is to our benefit and how they are working on implementing an alternative that works within legal boundaries to not be delisted and how Monaco already increased cashback on all purchases from 0.75% up to 2%?
Yeah I don't think so. Otherwise you wouldn't be here trying to disinform people.
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.
Bravo! Finally, someone with sense and critical thinking!
Idiots. Idiots everywhere.
I have already said in earlier posts.
I WORK AT VISA; and all I need to do is to ask around in office to know what is the deal with Monaco and VISA.
The deal is: THERE IS NO DEAL!
It doesn't take a genius to figure out that VISA will NEVER work with Monaco in this manner.
I already said: MONACO SHOULD WORK WITH A 3RD PARTY FIRST TO GET THE CARDS OUT LIKE CENTRA, TOKENCARD OR TENX.
But noooooooo, idiots in here keeps giving false hope by saying "VISA is coming, VISA is coming".
Monaco will never have a VISA deal. Period. Or at least not until they have a banking licence.
Continue to hold on to this coin, nothing good will ever come out.
All Monaco will ever do is to tarnish the reputation of crypto by being one of those scammy coins out there!
I have already said in earlier posts.
I WORK AT VISA; and all I need to do is to ask around in office to know what is the deal with Monaco and VISA.
The deal is: THERE IS NO DEAL!
It doesn't take a genius to figure out that VISA will NEVER work with Monaco in this manner.
I already said: MONACO SHOULD WORK WITH A 3RD PARTY FIRST TO GET THE CARDS OUT LIKE CENTRA, TOKENCARD OR TENX.
But noooooooo, idiots in here keeps giving false hope by saying "VISA is coming, VISA is coming".
Monaco will never have a VISA deal. Period. Or at least not until they have a banking licence.
Continue to hold on to this coin, nothing good will ever come out.
All Monaco will ever do is to tarnish the reputation of crypto by being one of those scammy coins out there!
Re: [ANN] TenX [ICO] end of June: making Blockchain assets spendable
So Julian from TenX states they will have a new credit card issuer before October 15, and not to worry because their issuer is top secret, and will work after October 15. Now they release an article stating they do not have a new issuer and everyone outside of European countries will be effected by the October 15 Wavecrest issue. Seems TenX is not transparent as they stated, and lies about any important issues.
No they are not lying there are some series of unfortunate events really but they are still doing progress, and that's the one that is important here. Not like other projects which just have false promises, anyways, this is really a challenging project, therefore really for a long term hold. long term hold-long term hold-long term hold. is this the new magic word, if a project is having big issues?
if a project i having issues for a longer time - leave it with your money and look for another promissing project.
it is never a good advice to sit and wait and wait and wait. especially not in crypto where you can find new chances to invest your money for a better profit every day.
i really do not understand, why such a promising and challeging project is not able to offer a working slack-channel like every other small project.
do not get me wrong. i am invested in this peoject and still hope for a great future.
slowly but surely i am loosing confidence....
So I bet you can start a new company and start making that dollar bill profit$ 1-2 month into a new company? Give it a break. Even traditional companies takes time to grow.
Huge number of small financial institutions issue Visa cards all over the world.
Why Monaco can't? Definitely, they will manage this.
Why Monaco can't? Definitely, they will manage this.
Well, I work at visa and I can tell you right off the bat it ain't going to happen.
You guys keep hoping for the visa deal to go through.
Let you tell you something.
I work at visa and chances for it to go through is very slim.
So slim that you can almost say that it is zero.
There is no way in hell visa is going to partner with a company like Monaco.
The only way is to get a banking license or use a third party.
Going forward, unless Monaco does that, don't expect anything to happen.
Let you tell you something.
I work at visa and chances for it to go through is very slim.
So slim that you can almost say that it is zero.
There is no way in hell visa is going to partner with a company like Monaco.
The only way is to get a banking license or use a third party.
Going forward, unless Monaco does that, don't expect anything to happen.
Any proofs to support your statements ?
U cant simply claim so .
I don't have to proof anything to you.
You can choose not to believe me.
All I need to do is to ask around in office.
I support Monaco (and cryptocurrency) but they should just concentrate on working with third party and banking license.
Trying to partner with visa will yield a deadend.
You guys keep hoping for the visa deal to go through.
Let you tell you something.
I work at visa and chances for it to go through is very slim.
So slim that you can almost say that it is zero.
There is no way in hell visa is going to partner with a company like Monaco.
The only way is to get a banking license or use a third party.
Going forward, unless Monaco does that, don't expect anything to happen.
Let you tell you something.
I work at visa and chances for it to go through is very slim.
So slim that you can almost say that it is zero.
There is no way in hell visa is going to partner with a company like Monaco.
The only way is to get a banking license or use a third party.
Going forward, unless Monaco does that, don't expect anything to happen.
Chinese speakers are suddenly popping up all over the Monaco slack channel IN JUST THE PAST HOUR....
https://i.imgur.com/0aYYqwz.jpg
...and they feel kinda strongly....wonder what's got 'em all riled up?
https://i.imgur.com/0aYYqwz.jpg
...and they feel kinda strongly....wonder what's got 'em all riled up?
Isn't it obvious?
They are angry because they cannot manipulate TenX tokens.
Please, we cannot let the chinese dominate and play us.
We must out buy them!
Don't let the chinese buy our MCO!
31,587,682 MCO Total supply 
9,812,786 MCO in circulation
This is very low price when you are comparing to other tokens.
Circulating Supply 104,661,310 PAY Total Supply 205,218,256 PAY
Even pay have very low price considering everything behind, and if you ask me i would stick for both of them!
But if you compare them on quick you will find out which has more opportunity for growth right now!
9,812,786 MCO in circulationThis is very low price when you are comparing to other tokens.
Circulating Supply 104,661,310 PAY
Total Supply 205,218,256 PAYEven pay have very low price considering everything behind, and if you ask me i would stick for both of them!
But if you compare them on quick you will find out which has more opportunity for growth right now!
That would be TenX right? Since they have a first mover advantage with a working product and all.
Am I missing something here?
what is the difference between tokencard and monaco or tenx for that matter?
is there any difference at all?
i mean why do people think mco will succeed?
It's cheaper than TenX.is there any difference at all?
i mean why do people think mco will succeed?
And have a descent team.
Ppl need a crypto card, so Monaco will succeed.
Can you explain how you come to this conclusion that it is cheaper than TenX?
Re: [ANN] TenX [ICO] end of June: making Blockchain assets spendable
TenX is a long term bet.
"Stick $500 into ICO, drive off in Lambo next month" is, quite frankly, idiot thinking.
$1bn is a drop in the ocean compared to what Visa currently process.
From: https://en.wikipedia.org/wiki/Visa_Inc.
"In 2015, the Nilson Report, a publication that tracks the credit card industry, found that Visas global network (known as VisaNet) processed 100 billion transactions with a total volume of US$6.8 trillion"
$1bn is a tiny fraction of $6.8tn. To be exact, 0.0147% if you use the American system where a trillion is a thousand billion.
If they get decent market adoption, they should be able to process a lot more than that. And that's just Visa. I didn't look up MasterCard and Amex.
And think about it. There is room in the card market for Visa AND MasterCard. And others like Amex I suppose. So there is potentially room for more than one Crypto card. Although in time, one or two are likely to dominate. My guess would be TenX and Monaco.
They don't need a big % of just the $6.8tn Visa currently process to start paying off pretty well. Hell, even $100bn is only 1.4% of the Visa turnover quoted above. So yes, it can pay off. IN THE LONG TERM.
So if you have no belief they can ever achieve this, it's because you don't believe crypto will ever go mainstream enough to generate this kind of revenue. As it has COMMIT behind it - allowing multiple currencies to be used with it, TenX can. And, for me, that's a game changer.
I'm holding.
If you expected a huge payout from year zero, you're an idiot.
"Stick $500 into ICO, drive off in Lambo next month" is, quite frankly, idiot thinking.
$1bn is a drop in the ocean compared to what Visa currently process.
From: https://en.wikipedia.org/wiki/Visa_Inc.
"In 2015, the Nilson Report, a publication that tracks the credit card industry, found that Visas global network (known as VisaNet) processed 100 billion transactions with a total volume of US$6.8 trillion"
$1bn is a tiny fraction of $6.8tn. To be exact, 0.0147% if you use the American system where a trillion is a thousand billion.
If they get decent market adoption, they should be able to process a lot more than that. And that's just Visa. I didn't look up MasterCard and Amex.
And think about it. There is room in the card market for Visa AND MasterCard. And others like Amex I suppose. So there is potentially room for more than one Crypto card. Although in time, one or two are likely to dominate. My guess would be TenX and Monaco.
They don't need a big % of just the $6.8tn Visa currently process to start paying off pretty well. Hell, even $100bn is only 1.4% of the Visa turnover quoted above. So yes, it can pay off. IN THE LONG TERM.
So if you have no belief they can ever achieve this, it's because you don't believe crypto will ever go mainstream enough to generate this kind of revenue. As it has COMMIT behind it - allowing multiple currencies to be used with it, TenX can. And, for me, that's a game changer.
I'm holding.
If you expected a huge payout from year zero, you're an idiot.
Yes. People here keep talking about cards. But the real hidden dragon is COMIT. That have a high chance of exponential growth!
Re: [ANN] TenX [ICO] end of June: making Blockchain assets spendable
Guys, the card is only the start.
Agreed that there will be limitation to the amount of tx in the first few years by card only.
But don't forget about COMIT.
Tx will also come from there.
Once implemented, growth will explode from there.
Just imagine every Tom, Dick & Harry running their own "mini-exchange" online and the amount of Tx generated.
Agreed that there will be limitation to the amount of tx in the first few years by card only.
But don't forget about COMIT.
Tx will also come from there.
Once implemented, growth will explode from there.
Just imagine every Tom, Dick & Harry running their own "mini-exchange" online and the amount of Tx generated.