/biz/ - Business & Finance

Up because they would want to cash out with as much as they could. That said, it isn’t a ponzi. Their mechanics are pretty clear and the only difference between them and a bunch of other platforms if they have a larger range of tokens and a bunch more working products to add credibility.

>>19908742
why do people insist on calling it a ponzi?

I am actually interested. Are people contempt with 30 secs of research before brushing something off?

>inb4 16% returns
Thats their own coin rtard

>>19908742
what is crypto.com retard? how can I comment on why it's a ponzi if I don't even know what it is?

>>19909059
click the link you just created and find out u mong

>>19908742
ponzi pops when number go up, ponzi doesn't really "go down"

>>19908857
>hello pay us this high amount of money that you can't take out. we're going to pay you 5% cashback in exchange forever on every purchase even for online ones where we literally don't make even 1%.
how do you think they're paying out investors? by taking in new money. this is literally what ponzis do retard

>>19908857
no card company gives you cashback on online purhcases because those companies don't make any significant $ on those. the only source they pay that money out is new investors who have to have their money tied down with them

>>19909175

Proved my point. To get 5% cashback you need to stake fucking 50K MCO, which is around $220K USD. You just read the headline and used it to prove your "point"

>>19909233
yes. you need to pay them 220k USD and they vow to pay you 5% cashback on your card purchases indefinitely. how do you think they do that? visa magically pays them 5% when they show that you tied down so much money with them, or they're paying you back from investors' money?

it lasts as long as there are always new entrants, literally cannot last any longer, and that's literally what a ponzi is

Getting interest on your holdings is nothing new. Maker does it decentralized and before the great jewing of the fed, banks always paid pretty good interest on your funds. Now they pocket the difference and give you almost nothing.

It is not unreasonable that a custodial solution can do what a defi solution can do.

>>19909233
Except that’s not the only feature, the biggest one being the private jet usage at that tier.

>>19909077
no faggot. you're clearly a fucking shill so why don't you tell me?

Not a scam, actually they earn money by other ways and with those earnings they pay the interest, plus, is fully regulated in Europe, there are other scams running right now like Safex, Unibomb, etc, but Crypto.com is legit.

>>19909292
The CEO has said that they incentivize the cashbacks, just as Amazon has done for years. Do you question if Amazon is a ponzi because they are able to give you 10% cashback with their card?

They also incentivize other shit, but they make it back with the fees and loans people make on the platform. If you had a head for business you would dive deeper and understand.

>>19909347
im a founding member lol. DYOR, i dont care if u stay poor

>>19909329
i know, but the jet service is just a gimmick, as you still need to pay the full price. They just offer the service via a company

>>19909414
one of the few above 100 IQ people in this thread

>>19909326
also based and MCO-pilled

The card perks from my understanding more about attracting new users. The biggest cost of this space is the initial phase where you need to get licenses, build infrastructure, etc. It's in their interest to get more people on the platform because fees and usage adds up with almost no added cost to CDC. Now that isn't to say the card benefits don't get a little sketch at times, but it isn't like everyone is stalking 50000 mco. I doubt it is that high of a percentage to make any meaningful impact on their economics.

I do wish they had more financial transparency, but I'd hardly say it's a ponzi as supposedly, locked MCO isn't traded or anything like that.

>>19908742
>Lets assume this is a ponzi
It IS a ponzi lol you're fucked anyway.

>>19909457
What card do you have? I’m curious. I’m about ready to upgrade my red to green.

>>19909528
See

>>19909432

>>19909432
>im a founding member

ya. so you're a shill trying to make me FOMO and pay you out of your ponzi scheme. no ty fag. The little that has been said itt has convinced me it literally is a ponzi and you'd have be a literal retard with no education to not see it.

>>19908742
Do you have any idea how much that domain name alone costed? As a minimum they’re gonna milk it for 10 years, even if they intended to exit scam from the start there’s no way they’re gonna do that after 5 days, after investing so much you fucking wagecucks have to have everything explained to you
Do some research niggers

>>19911063
no, im a guy who has been with the company since day 1 and have chatted with the CEO on multiple occations. I have done my research and entrusted 90% of my money with the company, and they have exceeded all expectations. Remember that they launched as a card company... Just a card. Now look at what they have achieved. They have gotten their whitelabel program approved by Visa for fucks sake, wake up.

Or continue to scream pOnZI and miss out

>>19911251
they had to convince the owner of the domain that they were legit in order to be ALLOWED to buy it also. He had been approached by literally thousands of other buyers, but he chose to sell it to Kris & CO. He is an OG cryptonaut, so i would say his due diligence is worth a bit

>>19911063
have i at any point tried to make you buy anything? The company does not want your 500 dollars

>>19908742
It’s all a scam, I deposited my linkies there and now they are all gone and tech support won’t return my emails WTF!!!!???

>>19911647
what about nexo, celsius, blockfi and the others? why not split your money between those. my reasoning being that they can't ALL be a ponzi and exit scam at the same time.

>>19908742
Bitconnect didn't crash until number went down

>>19911753
ok boomer

>>19911776
because DEFI is a fucking hassle and ripe with hacks, the beauty of CDC is the simplicity. They are the only ISO 27001:2009 certified for gods sake, and their CSO was invited into the forbes technology council. They are literally the gold standard when it comes to security when it comes to security.

I have been with them for a little over 3 years now, and i'm fairly certain that i have done my due dilligence. It would really surprise me if 1) they were actually able to exit scam 2) would actually think they could get away with it

Fuck we are dumping right now :(

OP here
can we come back to the topic and not discuss IF it is a ponzi or not but just assume for a moment it is.

if bitcoin goes to $100k, is it more or less likely they exit scam than if bitcoin goes to $100.

and why.

>>19913035
less because they literally cannot get away with it, it would only attract more attention the more expensive bitcoin gets. Why even entertain the question? They are audited and regulated in multiple markets. Just store your money there or don't, stop ruminating on hypotheticals

>>19913103
its not about CDC. i just used it as example. i have moved my coins to 3 different platforms and i need a strategy for both cases.

Best not be a ponzi, I’ve got my stinkies earning interest on there

>>19909432
amazon gives 5% cashback and ONLY on amazon and wholefoods (who definitely have far higher than 5% profit margin) purchases. 0% cashback from companies they have no agreements with, unlike crypto.com


>they make it back with the fees and loans people make on the platform.
how are they able to lend out so much? you need to deposit 2x as much collateral, what other purpose would people take loans than margin trading? bitfinex typically gives out loans below 4% rate, so who the fuck loans from crypto.com?


>im a founding member
oh, so you are not a shill, you're an outright scammer

>>19909432
>Do you question if Amazon is a ponzi because they are able to give you 10% cashback with their card?
amazon gives 5% cashback and ONLY on amazon and wholefoods (who definitely have far higher than 5% profit margin) purchases. 0% cashback from companies they have no agreements with, unlike crypto.com


>they make it back with the fees and loans people make on the platform.
how are they able to lend out so much? you need to deposit 2x as much collateral, what other purpose would people take loans than margin trading? bitfinex typically gives out loans below 4% rate, so who the fuck loans from crypto.com?


>im a founding member
oh, so you are not a shill, you're an outright scammer

>>19909432
>Do you question if Amazon is a ponzi because they are able to give you 10% cashback with their card?
amazon gives 5% cashback and ONLY on amazon and wholefoods (who definitely have far higher than 5% profit margin) purchases. 0% cashback from companies they have no agreements with, unlike crypto.com


>they make it back with the fees and loans people make on the platform.
how are they able to lend out so much? you need to deposit 2x as much collateral, what other purpose would people take loans than margin trading? bitfinex typically gives out loans below 4% rate and just hooks up lending and funding offers directly. who the fuck loans from crypto.com?


>im a founding member
oh, so you are not a shill, you're an outright scammer

>>19913541
>>19913492
>>19913586

Can you please make 1 coherent post without deleting multiple posts? It makes you seem like a rambling lunatic

>Amazon gives 5% cashback and ONLY on amazon and wholefoods

I know, i didn't bother to type it out because i assumed people would understand it from the context. The point was that Amazon also incentivizes the cashback, which they lose money on, but the return from returning business far outweighs the incentives

>how are they able to lend out so much?

I did not imply that they make all of their income from loans. Maybe they make as little as 1% and the rest comes from the fees on their platform. Look at coinbase fees, they fucking rake in money in fees. CDC has lower fees, but still earn a sizeable amount from it. Also, they had an ICO when eth was at $100, in which they pulled in 26,7 million, so i would say they don't have a cash issue.

Also, margin lending is coming to CDC with their "buying power" launch.

>oh, so you are not a shill, you're an outright scammer

... Did you not see the pic i posted?
i'll upload a different version since 4chins wont let me upload it again

>>19913777
You've been posting the same images tho. Not to shit on you, I'm the seething poorfag from the other threads, just pointing out something to gsecrete some dopamine. I feel he's the same guy posting it's a ponzi

>>19913824
because i have ever only had 2 photoshoots with it, i can make a new one for you if u want bby

>>19913777

>I know, i didn't bother to type it out because i assumed people would understand it from the context.
lmao

>The point was that Amazon also incentivizes the cashback, which they lose money on, but the return from returning business far outweighs the incentives
>which they lose money on
my point was that they don't, retard.


>I did not imply that they make all of their income from loans. Maybe they make as little as 1% and the rest comes from the fees on their platform. Look at coinbase fees, they fucking rake in money in fees. CDC has lower fees, but still earn a sizeable amount from it. Also, they had an ICO when eth was at $100, in which they pulled in 26,7 million, so i would say they don't have a cash issue.
yeah there are ways to make profit in the world, but no company makes so many offers like cashbacks with no limits and deposit interest on fucking crypto WITH no limits that are obviously impossible to keep if the market doesn't play exactly the way they expect it to


>Can you please make 1 coherent post without deleting multiple posts?
can you make a single decent argument instead of desperately picking of straws (i made typos and wanted to make my point clearer, duh)

>>19913824
There

>>19913777
how has nobody checked it btw ;_:

>>19914020
I forgot about it. That was actually the reason I replied to you but I'm too jaded. I'm sorry nordic sempai

>>19913918

>deposit interest on fucking crypto WITH no limits that are obviously impossible to keep if the market doesn't play exactly the way they expect it to


what makes you think there is no limit? Have you read their T&Cs? There is a hardcap at 1 mill USD. As for the cashback, a power user of their platform most likely earns them more in fees than they pay out in cashback. Also, they say in their T&Cs that they maintain the right to amend every perk of the card, including the cashback rate. It is very possible that they will reduce it by 1 or 2% within the next year or so. The CEO has said that he wants to do business like Amazon did, which is HEAVY customer acquisition in the start, and then incentives for the customers to stay.

Am i still a scammer?

>>19914074
how did you know i'm nordic?

>>19914263
>Am i still a scammer?
maybe. maybe just a stupid shill.

>>19914330
Assumption based on the pin of that amphibian you posted.

>>19914359
i mean... i dont want you to buy shit, im just telling you that their business model is very solid and that they are a company worth watching. Just remember, if they become the Amazon of crypto, remember that you refused to look into it.

>>19914380
ÆØÅ flex

>>19914452

>barbarian scripture

I've been using their platform for over 2 years and recall that they have been offering this reward program since I started. I haven't seen any complaints from anyone claiming that they'd been scammed. I've also spoken to a representative and they seemed legit and knowledgeable about how to report taxes.
Most likely what's going on, is that they're using the funds you deposit for interest to feed a bot they use/have a team of traders use the funds to make even more money.
Only sketchy thing is that in their t&c's they state that your funds aren't fdic insured and that if they fuck up, your funds could be lost. (Someone correct me if I'm wrong.)
I'd wager they have insider knowledge on what's going on/being listed and where, so the more money deposited, the more they're going to make. Not a sure thing, seems legit enough.

>>19914698
>Only sketchy thing is that in their t&c's they state that your funds aren't fdic insured and that if they fuck up, your funds could be lost. (Someone correct me if I'm wrong.)

Fiat is FDIC insured, crypto is not insured and if someone claims to have your crypto insured they are lying.

>Most likely what's going on, is that they're using the funds you deposit for interest to feed a bot they use/have a team of traders use the funds to make even more money.

Absolutely not true, they have categorically denied this. They would never in a fucking 1000 years be able to to this if they are regulated in the EU and have ISO certifications. They lock all user funds in multiple cold storages (Ledger Vault, look it up). Trading the users' funds is so fucking crooked it would never fly.

>>19914698
They are buddies with Binance, so there is def some chink magic going on behind the scenes there. But if it makes me money, im all for it.

They have given me around 100K CRO (around $11K) in airdrops, $4.5K USD in interest and $1K in MCO event money over the years.

Can't complain

>>19914900
well that's even better then that they're not trading your funds
If it's merely part of their business model as you say, to get people into crypto, then that's great and it makes sense. We're all very early after all. Outside of 4chan, the majority of people are on robinhood. And that just recently started being a thing also.

>>19914900
Checking these weak dubs as I monitor this thread from now on

>>19915069
to get normies into crypto has been their goal since they launched. Normiebase has left a huge chunk of the crypto market open for new and innovative companies because they have stagnated, and let's face it, they fucking suck.

The reason i am so hyped about CDC is that they market themselves as a traditional finance product, but with crypto kind of bundled with it, such that normies will be utilizing crypto on an expanding basis as time goes along. Their own coin (CRO) might also blow up as a payment gateway, similar to what paypal did in the early 2000s. CDC is trying to bridge the gap between the burgeoning fintech industry in SE Asia/HK and traditional finance in the west. If they succeed they will be fucking huge, and as of now they are so fucking far ahead of the rest of the "competition" that it's not even a race anymore. They sweeped the floor with Tenx and Tokencard, as well as Coinbase's shitty card and Binance's shitty excuse for a card


>>19915095
check these dubs

>>19911876
Fuck you fucking Hong Kong scam artist.

>>19915400
Can't argue with this flawless logic

do you have an arguement?

>>19915198
>off by one
I can confirm that I migrated from goynbase bc they were rejecting my poorfag buys (on top of their higher fees) and the card finally started working smoothly where I live. The card was not working the first couple of weeks after it arrived but I'm happy so far with it after they fixed the top up and gift card shite

>>19908742
i had at one point about $70k in crypto on there and i exited once i began to figure out their earn program is a literal ponzi. the impossible rates they give just for staking MCO into the platform doesnt add up - to maintain the interest rates they constantly need greater fools locking up funds. assuming they have a good fund manager that makes gains bc its doubtful they have a magic formula.

needless to say, im using compound now because even the crypto.com TOS tells you "WE ARE UNDER NO OBLIGATION TO PAY YOU ANY MONEY IN THE EVENT THAT OUR BUSINESS MODEL COLLAPSES, WE GET HACKED, OR OTHERWISE GO OUT OF BUSINESS"

its extremely high risk and looks like they are setting up a lot of ppl to be exit scammed on.
also, the fees are fucking horrible and if u actually use their platform to trade with they will jew u harder than youve been jewed before.

>>19915825
meant to say, the high interest earning rates that crypto.com has reminds me of a LOT of interest rate scams. even Bitconnect was an interest rate scam. its an incredibly common scam to run. and MCO is so sketchy they dont even have a US based bank - its international. so any time you buy crypto on there you get an international VISA fee.

hard pass from me. still got my 500 MCO VISA tho, but im just going to wait on Coinbase to release their crypto credit card. im not touching crypto.com again.

t. very unsatisfied customer

>also, the longer u use the app you will notice service outages that MCO doesnt even report and if u ask about it in the discord they just ban u. extremely hard pass from me.

>>19914698
>they're using the funds you deposit for interest to feed a bot they use/have a team of traders use the funds to make even more money.

that's literally exactly what bitconnect claimed to do

>>19914698
>they're using the funds you deposit for interest to feed a bot they use/have a team of traders use the funds
that's literally exactly what bitconnect claimed to do

>>19908742
>>19908742
Germany guy here.
I signed up 2 month ago almost gave up on them but got my card this monday. Its working fine even after wirecard run into problems (they handle their payments) and the cashback is nice.
Still have not used my ref. Worked for me so if you want to try it: /pum53mn48b its 50$

>>19915817
gratz, the card is a fucking winner
>>19916011
>that's literally exactly what bitconnect claimed to do

This is a guy theorizing on a sudanese aeronautics forum, and you take it at face value?

See my response
>>19914900
>>19915825
>>19915879

Had to split my post in two to refute your complete bs


>The impossible rates they give just for staking MCO into the platform doesnt add up - to maintain the interest rates they constantly need greater fools locking up funds.

The MCO rates are incentives to users in order to nudge them towards keeping their MCO locked. The rest of the coins follow the market rates for interest, and they have adjusted coins up/down along with the rest of the market.


>even the crypto.com TOS tells you "WE ARE UNDER NO OBLIGATION TO PAY YOU ANY MONEY IN THE EVENT THAT OUR BUSINESS MODEL COLLAPSES, WE GET HACKED, OR OTHERWISE GO OUT OF BUSINESS"

...You must not understand how compliance works. They literally have to include this in their T&Cs in order to be compliant with international legislation.
>>19916208
dude, posting referral codes gets you banned, and does not help the discussion here when people are claiming its a ponzi

>>19916325
>>19915879

part 2

>also, the fees are fucking horrible and if u actually use their platform to trade with they will jew u harder than youve been jewed before.

Did you actually trade on the app? Goddamn you are pretty stupid. They have an exchange for that u absolute mong. How about the fees on your glorious normiebase? Do you trade by buying and selling in the crypto wallet there also bigboi?

>still got my 500 MCO VISA tho, but im just going to wait on Coinbase to release their crypto credit card

You mean the card that only allows you to spend money directly from your normiebase account, and which triggers conversion fees for EVERY FUCKING PURCHASE? Ok, go ahead, sounds like you know what you want.

>to maintain the interest rates they constantly need greater fools locking up funds

Bases on your thorough, in-depth mathematical analysis of their assets and business model? Give me a fucking break.
What high rates? The MCO and CRO rates?

>the longer u use the app you will notice service outages that MCO doesnt even report

They have a daily report in the app that you can look at lol.

>meant to say, the high interest earning rates that crypto.com has reminds me of a LOT of interest rate scams. even Bitconnect was an interest rate scam

Exactly which rates? The rates on their own coins? They release it as they please, as it's their own fucking currency.

>t. very unsatisfied customer

t. very retarded minor

FTFY

>>19916011
I said "most likely", as in, I'm not entirely sure.
I'm not an expert on this. I was just thinking of a reason to justify why their interest rates are so high. (Probably shouldn't have shared my thoughts without doing research into this.)

got my indigo card this week, i plan to use it for as much of my spending as possible.

Can someone explain what the value proposition for CRO token is?

>>19916600
Well half a year ago I was convinced cro was a scam. Still am but everyone who bought when I said not to is laughing all the way to the bank so what the fuck do I know

Why the fuck would I lock my crtypto in custodian solution making bitconnect bot/traders claims and doing god knows what whit my money when i can earn AT LEAST 3x in defy from fucking cold wallet and with no locking funds like ever??????

Why is crypto crowd so retarded and keeps giving money to jews?

>>19916600
Syndicate events and low exchange fees. It’s basically a better BNB.

>>19916711
explain how

>>19916816
Im not writing fucking guides theres education all over internet fags and even i can get firm grasp of how defi works and Im as cs illiterate as it gets lol

>>19916711
Because as the other anon has explained itt, it provides simplicity which will lure in normies whereas defi is needlesly complicated and spread all over the place. I can't be arsed to write a blog about the differences and my newfaggotry will embarass me. Also you lot are not helping at all how to navigate the defi space despite having 50% of the board dedicated to defi "projects" these days

>>19916926
Thanks for proving my point fag

Should I buy 50 MCO or stick with 10k linkie journey

>>19916931
>>19916957
Yes its easy, good marketing and normie frendly Im not fucking dumb I get it.
But they are literally sticking money in defi protocols now taking 50-80% cut and acting like they provide service (nexus capital did 30 mil compound usdt deposit today kek)
So if you are ok:
>beeing normie and cant learn shit
>acually leave over 50% on table to jews
>risking to lose your funds if some jewfag makes bad trade or sticks it in wrong protocol

Go for it Im just asking why are so many retards on this board biz was not norme tire back in the day....

>>19917118
>beeing normie and cant learn shit
I work 2 jobs and live like a hobo to aggressively save mony because I got into this too late hence my time is very limited to research the countless defi protocols that hatch faster than my hens. Yes I'm a fucking normie
>acually leave over 50% on table to jews
There's nothing wrong with being jewish. If I make money off them so be it
>risking to lose your funds if some jewfag makes bad trade or sticks it in wrong protocol
Now you're talking out of your ass with these kinds of assumptions

>Go for it Im just asking why are so many retards on this board biz was not norme tire back in the day....
Too many reasons for that but on the top of my head
1. normies learned that /biz/ got in BTC early
2. ETH
3. LINK
2. mass immigration from reddit due to 2016 election as well as 2 and 3
4. The amount of defi projects, many of whom are possibly scams and its compexity push people away

And to answer your question in >>19916711: It's their money and anyone has a right to do whatever they want.

>>19909347
Newfag spotted. Hope you're enjoying highschool

People or paying 0.1 USD for a coin they pulled out of thin air, and they still hold about 80 Billion of it. They have money enough as long as people keep buying CRO. That is just people being stupid, so no not a ponzi.