Is Monaco a scam?

montehansen (38) · 7 years ago

Thanks for this post. I decided to do some more digging and did NOT like what I found about the Monaco management. Read what I found out at: https://steemit.com/monaco/@montehansen/beware-of-monaco-visa-ico-s-management

$0.30

nicnas (66) · 7 years ago (edited)

"Are you a resident in or are you holding a passport issued by any of the following countries?
United States
Singapore
India
Hong Kong"

Monaco wont let you contribute if you live or have a passport in these territories. Humm i guess that help make up made up my mind on whether to contribute or not.

$0.29

dana-edwards (74) · 7 years ago (edited)

So they require you to lie if you want to participate. At the same time if you participate you cannot run to the SEC. It does look a bit like they are trying to protect themselves and not you in this situation but that is what any ICO should do.

I think every ICO should do something similar. At the same time if we are going to be honest, anyone can lie and there is no way to stop anyone from participating but this at least would put them in a position where they can say they didn't want you to participate if it ends up in court.

$0.00

nicnas (66) · 7 years ago

here is the problem with that. I have seen it before. Its sketchy. What can happen is if and when they find out that you are from these nations they take your money and you have no remedy. The real question is, why cant these countries participate?

$0.00

dana-edwards (74) · 7 years ago

Don't give more money than you can afford to lose. It's gambling.

$0.00

sanevys (57) · 7 years ago

Doesn't look like scam to me

$0.00

4 votes

crowdedmind (50) · 7 years ago

Agree with you there - I keep getting this ad and it really does look like the most professional ICO I've seen to date...I have seen scam ICOs and this could be one that has a great front, but the clues are in the VISA press releases...time to do my digging!

$0.00

https://mona.co/tokensale.html?aid=mjEtBcGyQtqgh44lz-_rZg

inus12345 (40) · 7 years ago

Anyone thinking of contributing to the Monaco Card ICO please feel free to use my referral link:

Thanks

$0.00

andu (58) · 7 years ago

Sometimes marketing is everything out of a company/product.
I can name Synereo from the cryptoland, and LeEco from the so called 'real' world.

If they can deliver, hats off to them. Until then, don't be surprised if people don't believe you.

$0.00

youngkim (42) · 7 years ago

I invested 1.5ETH on this. I got the MCO tokens. But im not 100% sure if it is or not a scam

$0.00

wallflowerpunch (41) · 7 years ago

I bet you're proud right now.

$0.00

fishjojo1 (6) · 7 years ago

I think so, VISA 'partnered' with ETH, so maybe this is it!

$0.00

dreamrafa (66) · 7 years ago

interesting...

$0.00

bdl1165 (42) · 7 years ago

I hope it works as advertised for you guys , unfortunately i cant participate because of my country of residence, if it works surely someone will create something similar that is universal.

$0.00

dana-edwards (74) · 7 years ago (edited)

You know, you can simply lie and participate anyway. It's not like it's illegal for you or that they have a way to know who you are.

Of course I'm no lawyer, just think there is no realistic way to know the identity of a donor in these circumstances.

$0.00

bdl1165 (42) · 7 years ago

i have considered that, i guess my trepidation would be if that card could be used in the united states or would i be forced to use whatever currency i had to purchase out of the country

$0.00

bdl1165 (42) · 7 years ago

but just remember the bigger the con the harder it is to recognize, just ask Kevin Bacon.

$0.00

crowdedmind (50) · 7 years ago

I've been weary of ICOs and I feel like it's going to be me shooting myself in the foot...think I might have to drop some money on this. Win or lose - **this is definitely the most professional ICO ad I've ever seen. VISA too? Yes, if this is legit...$200 could be something major 1, 2, 6 months from now 100x? Let's see, I'm going to buy some! XD Thanks for the share @dana-edwards!

$0.00

dana-edwards (74) · 7 years ago

$0.00

misslasvegas (71) · 7 years ago

Agreed. It could be nothing, but I'm willing to spend a little bit on it to see where it can take us. Not enough to become a millionaire overnight, but enough not to beat myself up about it if it does take off. :) What I'm wondering about too is the merchants they would be cooperating with. Are they nonsense local ones that no one uses, or bigger companies? The whole thing, if it's not a scam, looks very promising I think. Ad if it's not a scam, we could be doing ourselves a favour buying ethereum too maybe...

$0.00

crowdedmind (50) · 7 years ago

@misslasvegas - cannot agree with you more - great points. $1,000 invested in Amazon's IPO 20-years ago now worth nearly $640,000....that's the kind of democratized access to capital all of us should be able to experience. The merchant comment is a great point, either way, they would need to make it cheaper and work faster for the small businesses to hop on so I think that's almost a better sign. Unless they are really building a certain image and don't actually uphold it. If not a scam, should be great!

You're right about buying Ethereum...ordered 4 of em around $250 - have been trading heavily the last 7 weeks and ETH was like $54 when I started....my entire portfolio is up about 20%, but would shooting past 5x right now had I just held ETH instead of the alts! Haha - gave you a follow and upvoted your comment, looking forward to building this Steemit community together!

$0.00

misslasvegas (71) · 7 years ago

Well thank you for that. Following you right back! Have yet to read your posts, but will get to it. I'm quite new here and there is just so much to read, I need an extra 24 hours in a day! But my first impression is that this community has quite a nice mix of people and the posts offer guidance to anyone, from newbie to pro, which is nice. And wow, too bad you didn't hang on to ETH. I did a similar thing buying THC when it was quite low and then because I had BTC stuck in limbo but wanted to buy another alt, I got rid of the THC instead of waiting for the BTC to get through. The very next day THC doubled! But no harm done, I'm sure things will fall into place anyway. I guess it's all a bit of a gamble anyway, but one with more chances and it sure beats betting against the bank!

$0.00

inity (55) · 7 years ago

Judging from the ads I've seen it's a ponzi scheme. But hard to say, haven't looked too much into it.

$0.00

erectile-reptile (25) · 7 years ago (edited)

$0.00