thoughts on the CRO/MCO swap

[Anonymous No.20955680]

Biz, what do you guys think of crypto.com axing MCO in favor of CRO. I was really enjoying the app but this actually has me spooked. To make their cards work you are being forced to swap all the MCO tokens that you had (which has a lower supply cap) and have to move over to CRO.

[Anonymous No.20955791]

>>20955680
I think its good. Was confusing for them to maintain 2 coins. I was selling all my earned MCO for CRO immediately anyways since it has such better roi and earn rewards.

The only downside here is they dranatically increased the minimum required value of crypto to keep the cards. Shouldn't be too bad of an issue if you aren't a poor fag tho

[Anonymous No.20955827]

I was confused at first by them using two coins so I think its a good thing they are swapping to one.

[Anonymous No.20955857]

>>20955680
Reddit says they were scammed, so I think it’s a good thing for the company and a good buy signal

[Anonymous No.20955903]

>>20955857
agreed, Reddit is sperging out, but the utility of CRO is so much greater, now that it is all under one roof I actually see this being much more bullish on the project.

[Anonymous No.20955937]

>>20955680
I'm worried that people will bail now that the cards are so much more expensive.

[Anonymous No.20955945]

>>20955903
I currently have 8.1k link. Should I start buying cro, or keeping reaching for 10k link?

[Anonymous No.20955979]

>>20955937
They can theoretically put out more cro tokens to dump the price.

[Anonymous No.20956016]

>>20955945
its up to you fren, do your own dd. That being said, cro has a lot more utility now. Cro can be used in the crypto.com pay app, so now you are getting cash back from a card paid in cro, which you can use on crypto.com pay for gift cards that give back 10%. I see this as an absolute win. Plus, the actual cro chain is going live in Q4, which they plan to build dapps on.

[Anonymous No.20956043]

>>20956016
Neet thanks fren

[Anonymous No.20956072]

>>20956016
This. So.much.this.

[Anonymous No.20956331]

>>20956016
Also what’s a good cro stack to have?

[Anonymous No.20956573]

>>20955791
you can keep your card staking benefits as long as you keep your (converted, lower value) stake

>>20955680
i think they did well. they had to do something about mco eventually as their profile changed through the years, how could they have handled the situation better?

[Anonymous No.20956651]

[Anonymous No.20956670]

Just found out the conversion bonus gets locked up for 90 days. That's really gay. I would have just sold it all otherwise. But whatever. What's done is done.

[Anonymous No.20956751]

>>20956331
I have a bag of 20,000. So not that much at this moment. I am trying to get 100,000 before the chain goes live, but with the price pumping I am worried I wont be able to get that much.

>>20956573
I think they did a good job as well. I think this project is going to much bigger now that everything is streamlined into one token.

[Anonymous No.20956782]

>>20956651
Would like to try the swipe card, but I am a burger.

[Anonymous No.20956886]

CRO is strangely enough my biggest bag.

Twitter is losing their mind over the MCO => CRO swap.

I was considering getting an MCO Card the other day, but I didn't have any MCO. Now I have enough CRO to get the Red card.

My biggest fear is that they're going to tank the price to get more people to buy into the CRO Cards now that they're so much more expensive than the MCO Cards were. So IDK If I want to lock up my 5K CRO that I didn't have staked for half a year.

[Anonymous No.20957030]

Does anybody know how cro is supposedly minted? Is it really just whenever they want? The white paper implies only the ecosystem can do it.

[Anonymous No.20957046]

>>20956886
I really don't think they will tank the price. The team seems extremely proud that CRO is in the top ten. I bet if getting a card becomes to much for the market to bare, they will bring down the staking amount for the cards.

[Anonymous No.20957054]

>>20956886
>My biggest fear is that they're going to tank the price to get more people to buy into the CRO Cards now that they're so much more expensive

come on, if that becomes an issue and they actually feel like they should lower card entry prices, they can just move tiers one level up, or modify individual tiers. a falling token wouldn't be a very good advertisement for future stakers, and wouldn't chill the SCAMMERS YOU ONLY GAVE ME 36% MORE MCO! crowd down

[Anonymous No.20957095]

>>20957046
They also mentioned doing a fixed USD price for the lowest card

[Anonymous No.20957264]

>>20957095
Might be cool. I question their ability to keep going in this space though as I don't know how much cro is used for its intended purpose. I always thought the cards were the driving value proposition of CDC. Nobody is gonna pay for the ruby card even now just for those benefits.

[Anonymous No.20957598]

>>20955937
It was always a ridiculously good deal before, now it's just a pretty good deal if you're not a poorfag.
Feels good to be grandfathered in though.

[Anonymous No.20957631]

SXP are going to drop three SVG idea and stick with one coin

[Anonymous No.20957652]

>>20957046
>I bet if getting a card becomes to much for the market to bare, they will bring down the staking amount for the cards.
this

[Anonymous No.20957726]

Cryptocooooooooneeeeeeeect

[Anonymous No.20957801]

I guess it's the retards that are on biz and smart people on reddit.

[Anonymous No.20957877]

>>20955680
People seem pissed. It's been great for me so far so I guess it's all about timing. I got the ruby card a couple of month ago and have been scooping up CRO to earn and it's been steadily rising. Have only held MCO as whatever cashback I get in addition to the card stake, so the MCO drop is basically no effect, and actually with the 20% bonus I'm well into profit.

[Anonymous No.20958039]

Yeah the scummy thing here is that it is obvious that CDC was manipulating the price for the last few months. We would have been in the six dollar range by now otherwise. Sketchy as fuck.

[Anonymous No.20958068]

>>20957801
>retards that are on biz
>he posts on biz

[Anonymous No.20958128]

I think its bullish that they made the cards more expensive - it shows they’re aware of concepts like ‘expense’ or ‘profit’ which I reckon if they were a scam/ponzi they wouldn’t be

[Anonymous No.20958190]

My biggest concern was the coin lockup for perks.
I had paid about 2.2k for 500 MCO tokens a few months back. That gives me 8% back on my 50k LINK stack. Over the course of a year, that gives me 4000 new linkies. That's going to be worth a hell of a lot more than the 500 MCO I had to lock up.
Plus the little perks of cash back, or spotify, why not.

If anything, I get to feel vaguely superior to newfags who will have to couch up about 4x as much capital to get the same interest rates I'm getting.

I'm vaguely bothered by the gameyness of it all, trying to get people to use their exchange, and all that, but as long as I keep my lockup perks, I'll probably come out ahead in the long run.

[Anonymous No.20958387]

>>20958190
In addendum, I wonder how this makes it competitive with the other crypto cards.
How does Swipe and Monolith and the Coinbase card stack up when compared with the reduced perks of a higher lockup cost.

[Anonymous No.20958417]

>buy mco
>they create cro, tell mco holders they will get cro aidrop
>give non-us mco holders 5 out of the 50+ promised airdrops
>drive mco price down with sell pressure, push cro up with incentives
>force a swap
mco maxis got fucked

[Anonymous No.20958462]

>>20958417
>being anything but a LINK maxi
you get what you deserve

[Anonymous No.20958651]

>>20955680
i'm spooked since the interest earnings on major crypto. this is a ponzi and this is gonna collapse someday guaranteed. i'm still using their card but only leaving minimal amounts for daily expenses

[Anonymous No.20958769]

>>20958387
Well none of them except swipe have rewards I think.

[Anonymous No.20958803]

>>20958387
the perks are the same, only the costs increased. and they still offer the best deals of all crypto cards. just not as much better than any competitor as they were earlier.

[Anonymous No.20959032]

I guess one thing is for sure, anyone who has locked up MCO for the perks, and now has them in CRO, at 1/4 the cost, is never unlocking those CRO.
slightly bullish for CRO.

[Anonymous No.20959045]

>>20958803
Yeah. The 2 percent card isn't awful still but it no longer pays for itself. I can't fault them too much, but I wouldn't even bother with it all that much at these prices. I'd rather just use credit cards to build credit. And I still do.

[Anonymous No.20959124]

>>20959032
Yeah. The 3 percent card is now a really damn good deal all things considered. So long as the price of one cro remains constant.

[Anonymous No.20959162]

>>20958651
1. Interest earnings on crypto will be lowered significantly if they have too. They have done it before. 2. If they exit scam they will be hunted worldwide. There literally won't be any place on earth where they are safe from authorities and disgruntled investors making their lives a living hell. 3. As the first big crypto bank they have gold in their hands. Just think about the money they're earning on every fiat to crypto, crypto to fiat, exchange and creditcard transaction.

[Anonymous No.20959289]

>>20958190
How the fuck you get 8%?
I thought 6% was the max on link.

[Anonymous No.20959340]

>>20959289
I think the top tiers get more bonuses.

[Anonymous No.20959491]

>>20959289
6% +2% MCO

[Anonymous No.20959597]

>>20959491
With staking it is 6%.

[Anonymous No.20959631]

>>20959162
if they lower interest, it's because they are in trouble already, but if they do it, they will lose existing users and influx of new fish. The collapse is guaranteed as long as they have this system, the only question is when

[Anonymous No.20959729]

>>20959289
sorry I misspoke, I was going off some old charts.

[Anonymous No.20959733]

>>20959045
yeah they were saying they're providing these benefits to build userbase, and that they're subject to change. the fact that they let existing customers keep all benefits and only make it more expensivd to new ones was actually an extremely trustworthy move IMO. and a card cannot pay for itself forever, if you think about it, they'll have to make further restrictions eventually. if they still keep giving the ridicolous bonuses to people who applied to them before the change, it's still a ridicolusly good deal.


>>20959162
this. comparing to bitconnect is sub60 iq fud. they've been around for 4 years, have over 3 million users, registered with the SEC and corresponding authorities in the us, canada, europe, asia and australia, and their ownership scheme is transparent.

this is not how you start building a ponzi, this is how you start building the largest global crypto bank. they were just ambitious and it paid off for them.

[Anonymous No.20959945]

>>20959597
No you are wrong,
I have currently 4% LINK +2% CRO on my one month term. It is 6% LINK + 2% CRO on one 3 month term.
You need to have 5000MCO to have the 2% bonus

[Anonymous No.20959967]

>>20959733
imagine seeing 6% annual interest on chainlink and not being fully convinced this is a ponzi HAHAHA

[Anonymous No.20960221]

bought it the night before because Bitboy said it would perform well in August. Decided fuck it, spent a G. Easiest $400 I ever made.

[Anonymous No.20960302]

>>20956886
where do you buy CRO? Crypto.com doesn't let you purchase if you're US

[Anonymous No.20960523]

Converted my MCO to CRO and got over 31K CRO as an "early switch" bonus. Feelsgoodman.

Also, they have given me 95K CRO as airdrops (ended in july). Overall, i fucking like this company

[Anonymous No.20961025]

>>20959945
wow you paid over $20,000 for the extra 2% interest, how does that make financial sense when the earn program has a $500k cap?

[Anonymous No.20961072]

>>20959967
It's because crypto loans have to be 100% collateralized so if they are giving out loans with 7% interest they need to have 100% for collateral so they are still making 1% profit.

[Anonymous No.20961132]

What is CRO good for ? besides earn and cards ?
I was considering buying 500 MCO to get that sweet 6% on LINK but that went from 2K to 8K USD, will they lower the entry point ?

[Anonymous No.20961141]

>>20961025
2% extra interest on $1.000.000 cap (5000MCO, 500MCO has the 500k limit),
It is an extra 833 dollars per month more each month, compared to the previous tier.
It pays itself in less than 2 years

it is not my fault that you are poor

[Anonymous No.20961194]

>>20960523
could have sold your MCO on binance and transfered to crypto.com to buy CRO to get eeven more, MCO is overpriced with today's pump lol

[Anonymous No.20961217]

>>20961141
So i was wrong it ass me 3.333 per month more

[Anonymous No.20961236]

>>20961141
Lol I'm not poor. Sorry if my question came off as rude, thanks for explaining it. I didn't know the earn cap went up if you have 5000MCO staked, that is cool.

[Anonymous No.20961362]

>>20961194
I think you can only keep your earn and card privileges if you use swap and keep the cro staked into the app.

[Anonymous No.20961377]

They are constantly changing things to the worse for holders.

Visa 2018, no visa 2018.
Airdrop, no airdrop.
Moon stopover, no moon stopover.
Mco , no mco.

The app is good actually, but they are buttfucking their ico investor again and again and again.

Now they increased card stake by 3x for same perks and giving mco 1/3 of the amount needed.

Glad i sold for gains.

[Anonymous No.20961450]

>>20961236
No problem, I like the card, Have a great day brother

[Anonymous No.20961576]

Well the thing is over the past few months they suppressed the price of MCO artificially while pumping CRO beyond belief. This way, it would be advantageous for them to swap MCO for CRO - they retain a shit ton of control over their asset which they have 100b of.
Then what did they do? Make the cards overpriced with respect to CRO (7.2k USD for the Indigo card) so that CRO can dump back to the price it’s actually worth.
It’s clear that they had been planning this for a long time.
MCO holders got scammed twice over.

[Anonymous No.20961905]

>>20961194
see
>>20961362

I had 5000 MCO locked, if i unstaked them and sold them i would only have around 170K CRO, and my staking level is now 500K CRO.

I like my 4% cashback and 8% in earn, thank you very much

>>20961377
>Moon stopover, no moon stopover.

umm wat, the whitelabel program was the moon stopover. Wait 3 months and see the effect it will have

[Anonymous No.20962321]

>>20960302
I'm in the US using the Android app and I've always been able to purchase CRO.

I get % back on giftcards and interest in their earn program too.

[Anonymous No.20962487]

>>20962321
dope post a referral code and i'll sign up with it

[Anonymous No.20962574]

>>20962487
inb4 ban

[Anonymous No.20962630]

>>20962574

f6vr5wt7x8

[Anonymous No.20962691]

>>20962487
On the off chance he doesn't give you one you can use mine.
w8s7eff6wh

[Anonymous No.20962753]

>>20962487

Ref code: nh5vdh9wzh

[Anonymous No.20962766]

>>20962630
>>20962691
>>20962753
mods, REEEEEEEEEEEEEEEEEE

[Anonymous No.20962845]

>>20962766
Since when are ref codes not allowed?

[Anonymous No.20962870]

>>20962630
thanks frog. verification takes a couple days, with successful sign-up you're gold.

>>20962691
sorry frog. I still love you.

[Anonymous No.20962878]

>>20960302
Not true.
I also live in the US and have bought it on the Crypto.com app for android.

[Anonymous No.20962957]

>>20962870
all good

[Anonymous No.20963021]

>>20961905
won't you have to buy more CRO at the end of 6months lockin period ?

[Anonymous No.20963030]

>>20962878
yeah I'm up and running. Been holding off from crypto.com b/c no need, but heard about MCO a couple days ago and I'm looking for a proper crypto and fiat multi currency card. I wish wirex was US, but all good.

[Anonymous No.20963077]

>>20962845
since always:

>Note: /biz/ is NOT a place for ADVERTISING or SOLICITING. Do NOT use it to promote your business, ventures, or anything you may have an interest in. Anything that looks remotely like advertising or soliciting will be removed. Begging/asking (including tipping) for cyptocurrencies or asking for money/capital is also strictly forbidden.

i have been banned twice for posting ref codes for CDC

[Anonymous No.20963138]

>>20961072
even if they weren't it's not at all hard to hedge against a shitcoin mooning if you're a fucking crypto bank/exchange

[Anonymous No.20963172]

>>20963021
no man, you retain your lock with the dollar value at the time of conversion. If i unlock and want to relock, the new staking requirements are valid

>>20963030

>'m looking for a proper crypto and fiat multi currency card

you are literally describing crypto.com, i have used tokencard and coinbase's shit and they are so far behind it's laughable.

Why are you holding off from CDC? It's a one-stop shop for everything crypto related (DEFI coming very soon)

[Anonymous No.20963252]

>>20961576
800 for a 2% card with spotify subscription is not overpriced moron. the cards are now much more reasonably priced

[Anonymous No.20963332]

>>20961576
they don't have incentives for the CRO token to be expensive, as they would have to dilute the supply much faster if the token price is low.

essentially:
high CRO price slow dilution

[Anonymous No.20963336]

>>20963172
oh don't get me wrong my bro, I'm all in on the card now. Especially with the swap, looks like they needed to do some sort of pivot on the back end and CDO will be a better tech to facilitate the tx or something. I've been on coinbase and binance for awhile now and it just takes a while for transactions to clear while I centralize from the exchanges and a few wallets. Part of a portfolio-wide risk management movement to prep for the next season, alongside more active use of VPNs and encrypted email and all that. One step at a time, my bro.

[Anonymous No.20963514]

>>20963252
with other cards, you need to stake $5k for a 1.5% cashback

[Anonymous No.20963755]

>>20963077
Says nothing about Ref codes...

[Anonymous No.20964168]

>>20963755
ref codes = soliciting

>>20963336
very good opsec fren, i am starting to plan a part exit from CDC to spread my risk

[Anonymous No.20964724]

>>20958417
i just opened the app and swapped, they are offering +20% for the next month
but
the faggots put the new coins into its own stake, so now i have the old mco stake expiring in 20 days and the mco in my normal wallet and the bonus got put into a new, different stake

horray

[Anonymous No.20965378]

>>20964724
only the bonus coins are automatically staked for 180 days in the exchange

[Anonymous No.20965545]

been seeing alot of fud coming from the discord and reddit side of the CDC community. Reddit is saying that this is pretty much bitconnect now, which I think is retarded. To get those shinny MCO cards they had to go through actual banks. If they exited, the entire team is going to jail. The fud is real now.

[Anonymous No.20965671]

>>20965545
they have some legit concerns though. CDC may very well have used staked MCO to pay for the cashbacks of other users

the team's refusal to even address this issue doesn't help this issue either

[Anonymous No.20965755]

>>20956331
Bought 50k for 3000 2 months ago, worth double now, so getting expensive but would say this is a pretty comfy stack. Also 18% pa with 50k staked and 2% More on my linkies

[Anonymous No.20965758]

>>20965545
they will get a taste of that fDIC
overall my experience has been fine, i wish i hadn't passed on the offer they sent me a few months ago, they sort of waived the reqs or something to get me the card but nah

[Anonymous No.20965933]

>>20965671
yeah this is true, I remember seeing some threads about fractional reserve banking with MCO. Still don't think we are going to see an exit scam, but I can see why people feel fucked about the move.

[Anonymous No.20966033]

>>20965545
Redditors don't know what to be mad about. The thing is that their supply can be massively inflated and destroy cro value which is kind of concerning.

[Anonymous No.20966195]

>>20965933
i have been with the company since day 1, and my red flag indicator since then has been the 50% of MCO that has remained locked for a few years now. If they touch that, that means they are in the red, and i would then pull out everything. So this new shift has me a bit worried, since they can now hide their finances better with the dilution of the CRO supply.

I probably won't pull out in the near future, but i am watching very closely

[Anonymous No.20966325]

>>20966195
I'll keep my eye out now that you bring this up. The CEO should be doing an ama tomorrow. Interested in what he says.

[Anonymous No.20966361]

>>20958190
If it put my Link in one of their savings accounts, does it pay out in CRO or Link, i got a bit confused when I read that on their website.

[Anonymous No.20966409]

>>20966361
it gets paid in LINK

[Anonymous No.20966467]

Swap from a token that was about to moon from scarcity to a pumped token with incoming money printing that would make the Fed blush.

[Anonymous No.20966509]

>>20966409
thanks anon!

[Anonymous No.20967281]

>>20966195
Is there limits on the smart contract for how it gets minted? I am a bit confused looking at the whitepaper (for cro)

[Anonymous No.20967316]

>>20966467
Is this oc? It's pretty funny

[Anonymous No.20967336]

>>20967281
How are her milkers so big?

[Anonymous No.20967422]

>>20967336
Protein shakes.

[Anonymous No.20967459]

Apparently from the whitepaper. You thought you were grandfathered in? Think again you stupid fucking goy.

[Anonymous No.20967549]

>>20967459
Worst part is that you can't even sell mco on their platform either. Fuck I'm mad again. I didn't notice because I did the swap.

Oy vey

[Anonymous No.20967683]

>>20965671
Yeah dude, that’s exactly what happened. See >>20961576. They ignored MCO and sold users‘ MCO on the market to dump its price (the ‘staked’ tokens are nothing more than a flag check in SQL). Meanwhile, they promoted the shit out of CRO and pumped its price beyond belief. Result: maximise their gain when performing the forced swap.
This is exactly what happened.
People got lowkey scammed.
It’s so evident that it cannot be blatant fud.

>>20966467
> “You actually don’t lose anything! You just have to stake it for 6 more months!”
> “Wait, why did CRO stop pumping all of a sudden after today’s announcement?”
> “Hey this is just crypto, you just be new here, we don’t control the price”

[Anonymous No.20967833]

>>20967683
Yeah. They are gonna get fucking hosed if it leaks that's what they did. Crazy stuff.

[Anonymous No.20968221]

https://twitter.com/cosminyova/status/1290400365498769408?s=12

OH NO NONONONO

[Anonymous No.20968602]

https://www.youtube.com/watch?v=jH1BCa4quGA&feature=youtu.be&t=1139

[Anonymous No.20968813]

>>20968602
Good laugh