Short
MCO -A Hot Dumpster Fire Loosing Support
Updated
No chart lines needed, breaking down through historical support on the chart. If this looses $4 we will be looking for a new low. MCO looks like a hot mess melting down while everything else is melting up. Why did I buy any of this? OH Yea~ They sent me a debit card! I completely forgot about that and have never used it. Crypto dot coms other coin CRO on the other hand has more than made up for any looses on MCO assuming you bought some of that too and if you leave it on their platform you can get 18% APY on it, but it is not automatically compounding. You are going to need those CRO gains to put your MCO fire out. Crypto dotcoms referals welcome if my chart helps you make a hard decision in the short term. Referral code: 3pfx3etpmk
Note
Re-posting this update from my CRO Chart Linked below to help any lingering MCO Hodlers dig out from the wreckage too: (Please help yourself out and read, ask me questions below if you need some answers.)Wow, soooo many people are butt hurt about the MCO->CRO token swap. Here's the thing folks, new platform users will now need to buy CRO tokens going forwards, you converted into CRO. There may be an initial short term sell off as the butt hurt people who purchased MCO @ $11 take their exit, but medium and long term, there will be more price appreciation on this token that also has a 16% to 18% yield baked in. For those of you who staked 500 MCO for the debit card, you will still get all of the benefits as long as you leave your now 13,500-ish CRO locked up in the stake at 16% APY, where new users will need 50,000 CRO to get the same debit card. This is a $5,000 early adopter bonus falling in your lap. For anyone concerned with them dumping CRO on the market to lower the prices, how could that possibly be a benefit to them? Why would you tank the price of something you hold so much of? Besides, the full amount of CRO they have is locked up in an Etherium smart contract that only unlocks a very small amount each day for their internal operating expenses and platform development funding. They cannot dump on the market as that smart contract is audited and held by 2 different 3rd party auditors. Make the switch or sell so someone else can swap your tokens for you, that is your call an an investor as is loosing money when you buy at the top and sell at the bottom. I am still bullish on this token and will be taking some profits in early September as the price begins to go up again.... Only I will have received even more by then in staking rewards. CRO CEO makes a public announcement sometime today to clarify what their game plan is/was. Good luck everyone!
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* MCO dies on November 2nd. * The developer has killed this project.
* This confirmed exactly what I was saying in this post, MCO was a hot mess of a dumpster fire and now the developer agrees.
* After November 2nd, this token will loose all exchange token use case value.
* All of those exchange token attributes have been moved to CRO
* The price of MCO is being propped up by the token exchange rate to CRO
* This token is now an ERC-20 Zombie token and will begin to be de-listed on all exchanges.
*** GET OUT WHILE YOU STILL CAN! CONVERT TO CRO! ***
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..................................................... PUMP THE LIKES UP FOR PERFECTLY CALLING OUT GARBAGE BEFORE IT'S OWN DEVELOPER ............................................You're Welcome. (Winky Face Emoji)
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Good news this morning. Crypto dotcom has lowered the tiers for the debit cards based on community feedback. You now only need 10,000 CRO instead of 50,000 CRO for the Jade Green or Inigo Purple Debit Cards (Same Tier Card). I get the feeling this is a temporary offer while they discontinue MCO. I would suggest converting your MCO and locking in this deal before it goes back up again.
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