Whistle blowing on Crypto.com
From an speculative perspective on price, this is a bullish post.
From a speculative perspective on the longevity of Crypto.com as a functioning company, this is hard news.
First off, This post does not go against any community guidelines so please do not remove this post. Everything described is factual.
I shared this information on the Crypto.com subreddit and the post was removed three times before I was permanently banned.
Others then went on to share this information and were also banned.
I have been a long-term customer of Crypto.com and currently hold the Rose Gold visa card.
What's happening?
_____________________________
The primary reason that the MCO token was deprecated was because it was created with a supply that would not support the longevity of cashback and interest earned on cards. This is one of the fundamental reasons that CRO "made sense."
Recently, Crypto.com committed to burning all but 5.9bn CRO to be used for "mainnet block rewards for Chain validators and delegators which helps secure the network."
With growing adoption and ridiculous rewards (compounding rewards for everyone), CRO is being dished out at an incredible rate to users.
Now that Crypto.com have burned all of their reserves to decentralize the currency, there is not a sustainable source to continue these rewards which are the primary function of this service.
I alone am earning 600CRO/ week from earn and around 100CRO/ week in rewards compounding... that's at least 36k CRO a year.
Let's just say for arguments sake that across the board, (remember black card holders as well), the average user earns 15k CRO a year in total rewards.
There are currently 10m users which is a rate of 150bn CRO per year in card and cashback rewards.
If you're really bad at basic maths, I can make it even more clear.
The base of users will definitely earn around 1k CRO a year - that's hardly anything.
We know there are more than 10m users based on figures provided by Crypto.com.
That means 10bn CRO a year are being rewarded in a scenario that we can all agree is an absolute.
We are in a situation where there are only 5.9bn CRO allocated to "mainnet block rewards", so we don't even know that these will be used for cashback and rewards. Apart from that, there will be no more CRO available to provide rewards to cardholders.
What does this mean for Crypto.com?
____________________________________
We have approximately six months until CRO available for rewards are completely depleted in the best-case scenario.
If we use likely estimates, there appears to only be enough supply available to last until the Mainnet launch at the end of this month, so there are some major changes to come for Crypto.com users and investors.
The one thing that makes this system work is the fact that these cards have better rewards than competition.
How can this continue if there are no rewards at all?!
Once supply is gone, Crypto.com is not going to be able to provide rewards to users in the form of CRO.
We can only assume that they have another plan.
What does this mean for CRO Investors?
________________________________________
Supply is running out! Hurrah!
We can only assume that the burn by Crypto.com was their last hurrah to drive up the price and get rid of personal holdings before initiating their next plan...
Or is this their exit strategy?
Regardless, CRO is going to go up in price at an incredible rate until we know what is going to happen at Mainnet.
If anything, this is a race to cash out at the top.
Good luck to all.
From a speculative perspective on the longevity of Crypto.com as a functioning company, this is hard news.
First off, This post does not go against any community guidelines so please do not remove this post. Everything described is factual.
I shared this information on the Crypto.com subreddit and the post was removed three times before I was permanently banned.
Others then went on to share this information and were also banned.
I have been a long-term customer of Crypto.com and currently hold the Rose Gold visa card.
What's happening?
_____________________________
The primary reason that the MCO token was deprecated was because it was created with a supply that would not support the longevity of cashback and interest earned on cards. This is one of the fundamental reasons that CRO "made sense."
Recently, Crypto.com committed to burning all but 5.9bn CRO to be used for "mainnet block rewards for Chain validators and delegators which helps secure the network."
With growing adoption and ridiculous rewards (compounding rewards for everyone), CRO is being dished out at an incredible rate to users.
Now that Crypto.com have burned all of their reserves to decentralize the currency, there is not a sustainable source to continue these rewards which are the primary function of this service.
I alone am earning 600CRO/ week from earn and around 100CRO/ week in rewards compounding... that's at least 36k CRO a year.
Let's just say for arguments sake that across the board, (remember black card holders as well), the average user earns 15k CRO a year in total rewards.
There are currently 10m users which is a rate of 150bn CRO per year in card and cashback rewards.
If you're really bad at basic maths, I can make it even more clear.
The base of users will definitely earn around 1k CRO a year - that's hardly anything.
We know there are more than 10m users based on figures provided by Crypto.com.
That means 10bn CRO a year are being rewarded in a scenario that we can all agree is an absolute.
We are in a situation where there are only 5.9bn CRO allocated to "mainnet block rewards", so we don't even know that these will be used for cashback and rewards. Apart from that, there will be no more CRO available to provide rewards to cardholders.
What does this mean for Crypto.com?
____________________________________
We have approximately six months until CRO available for rewards are completely depleted in the best-case scenario.
If we use likely estimates, there appears to only be enough supply available to last until the Mainnet launch at the end of this month, so there are some major changes to come for Crypto.com users and investors.
The one thing that makes this system work is the fact that these cards have better rewards than competition.
How can this continue if there are no rewards at all?!
Once supply is gone, Crypto.com is not going to be able to provide rewards to users in the form of CRO.
We can only assume that they have another plan.
What does this mean for CRO Investors?
________________________________________
Supply is running out! Hurrah!
We can only assume that the burn by Crypto.com was their last hurrah to drive up the price and get rid of personal holdings before initiating their next plan...
Or is this their exit strategy?
Regardless, CRO is going to go up in price at an incredible rate until we know what is going to happen at Mainnet.
If anything, this is a race to cash out at the top.
Good luck to all.
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