Larger holders are dumping. A week ago I was the 715th largest holder now I'm 699th. That means 16 people with bigger positions that me dumped.
The utter lack of communication and promised marketing campaign on the part of the MTO team is what's driving negative market sentiment by holders. Who are really the only people who are even remotely aware of MTO'S existence as can be judged by the abysmal trading volume. If it's a scam I see it as poorly executed. Better Marketing would have enabled Hips and company to finagle millions more out of investors. If they fully intend MTO to be legitimate they have through sheer incompetence and apathy doomed the project to failure that could only be turned around at this point by a herculean effort that they are incapable of providing. I'm putting on my blinders from this point on and like many have said before me ignoring this project for at least a year. Goodluck to all MTO holders.
I didn't buy any, but kept watching in case they changed the utility of it.
Biggest issue for me was lack of merchant being able to initiate a refund or to respond to a refund claim. Any evidence can only be supplied by customer, making it all one sided.
There needs to be a mechanism allowing the merchant to also add documents, images, etc to a dispute for crowd judgement. In it's current form, only the customer is providing 'proof'.
Also the ability for a merchant to initiate a refund without a dispute starting. Otherwise merchant has no way to initiate a refund for change of mind / warranty purposes. The customer could double dip a refund if the merchant refunds in any other method. This is the reason merchants refund through the original funding source. To stop fraudulent customers from denying a refund was received via other means.
If those issues get resolved, the project could be a global player.
Over a year ago, I did put these questions to this subreddit, the website contact page and direct email. Nothing was received back by the people in power.
No merchant is going to adopt something that is unfavourably againts them.
Good catch. One I didn't catch.
Those two fundamental flaws right there is enough to kill the utility of it.
Why would a merchant volunteer for something that one sided?
In the end, I think it was a well developed scam. Wrote a good paper (with some undefended flaws that you pointed out). Built a VERY GOOD mechanism to collect funds, allocate tokens, a very nice phasing system.
But once the distribution date came, all that great competence evaporated. Suddenly they can't communicate. Miss dates, "accidentally" distribute so some early.
Either the creator of this got into an accident and suffered a head injury, or it's a scam hiding behind newly found incompetence.
--
These guys if they NEVER do another thing, made $60 million dollars. That sort of goal is the sort of thing that takes an entire career and most never achieve.
Sorry dude, I never said anything was easy.
The red flags didn't show up until after the ICO ended. The had done marketing, AMA appearances, a solid white paper. It wasn't until after investment that it all went to sh\*t.
I'd have to disagree with that, ico was dodgy, the hoops to jump through to get even registered and pay was a red flag for me, although not quite enough to make me jump, but certainly enough for me to be suspicious so I only invested 100 bucks
And the whole wallet thing, having to open up an account with metamask, then manually add the coin, it was all too much for me, made too hard and that sort of thing shouldn't be hard imo
A big red flag was the extension to the ico, clear greed kicking in there by the people behind it
The final straw for me was moving the date, that was a clear sign of a con, get theirs out, leave everyone else high and dry so I dumped mine as soon as I was able
But odd still, and this is the bit I just don't get. When people started really digging and going to linked in, the business addresses and it all began to unravel, so many people were saying nah, it's all good, this is fine, it's all fine
I'm sorry you invested so much, it seems you can handle it, which is good. Wish you all the best.
u/PinkleWicker777 I hear ya, but most of your arguments are exactly what I was saying. Most of those things happened after the investment into the ICO would have already happened.
If things like that were happening before or during the ICO, sure, red flags everywhere, not the pre & during ICO was relatively well done. For instance, the extension of the ICO. Yeah, that was not done well, BUT, if you were already in an earlier stage - not really anything you could do at that point, you were locked in. So, like I was saying, the red flags started happening towards the end of the ICO/after if ended.
As far as the Metamask argument you make, I have to disagree. If a coin is having an ICO, by definition, it doesn't exist yet, and will not appear in a wallet. That's why Metamask & every other ERC-20 wallet as well as DeFi protocol allow you to manual add tokens.
Metamask wasn't the only option - you could send it to any ERC-20 compatible wallet of which there are many.
I would sell and put it into Safemoon but gas fees are so high it barley makes sense...
Maybe I will just delete of TW and CMC and check in in two years.
Larger holders are dumping. A week ago I was the 715th largest holder now I'm 699th. That means 16 people with bigger positions that me dumped. The utter lack of communication and promised marketing campaign on the part of the MTO team is what's driving negative market sentiment by holders. Who are really the only people who are even remotely aware of MTO'S existence as can be judged by the abysmal trading volume. If it's a scam I see it as poorly executed. Better Marketing would have enabled Hips and company to finagle millions more out of investors. If they fully intend MTO to be legitimate they have through sheer incompetence and apathy doomed the project to failure that could only be turned around at this point by a herculean effort that they are incapable of providing. I'm putting on my blinders from this point on and like many have said before me ignoring this project for at least a year. Goodluck to all MTO holders.
Where do you check ranking of wallets? I'd like to find where I rank
Etherscan. Merchant token. Click holders. Gives you the top 1000
Thanks! Turns out I'm #272
I didn't buy any, but kept watching in case they changed the utility of it. Biggest issue for me was lack of merchant being able to initiate a refund or to respond to a refund claim. Any evidence can only be supplied by customer, making it all one sided. There needs to be a mechanism allowing the merchant to also add documents, images, etc to a dispute for crowd judgement. In it's current form, only the customer is providing 'proof'. Also the ability for a merchant to initiate a refund without a dispute starting. Otherwise merchant has no way to initiate a refund for change of mind / warranty purposes. The customer could double dip a refund if the merchant refunds in any other method. This is the reason merchants refund through the original funding source. To stop fraudulent customers from denying a refund was received via other means. If those issues get resolved, the project could be a global player. Over a year ago, I did put these questions to this subreddit, the website contact page and direct email. Nothing was received back by the people in power. No merchant is going to adopt something that is unfavourably againts them.
Good catch. One I didn't catch. Those two fundamental flaws right there is enough to kill the utility of it. Why would a merchant volunteer for something that one sided? In the end, I think it was a well developed scam. Wrote a good paper (with some undefended flaws that you pointed out). Built a VERY GOOD mechanism to collect funds, allocate tokens, a very nice phasing system. But once the distribution date came, all that great competence evaporated. Suddenly they can't communicate. Miss dates, "accidentally" distribute so some early. Either the creator of this got into an accident and suffered a head injury, or it's a scam hiding behind newly found incompetence. -- These guys if they NEVER do another thing, made $60 million dollars. That sort of goal is the sort of thing that takes an entire career and most never achieve.
That’s what people in Shiba etc said before it pumped. Just hold and see what happens, nothing to lose now I’ve already written it off
Can it be traded on binance?
Yea, it'll cost more to get get rid of the token at this point. I invested about $20k, it's now worth about $1,200.
Fuck dude, did you think making money was that easy, it was an ico and had soooo many red flags.
Sorry dude, I never said anything was easy. The red flags didn't show up until after the ICO ended. The had done marketing, AMA appearances, a solid white paper. It wasn't until after investment that it all went to sh\*t.
I'd have to disagree with that, ico was dodgy, the hoops to jump through to get even registered and pay was a red flag for me, although not quite enough to make me jump, but certainly enough for me to be suspicious so I only invested 100 bucks And the whole wallet thing, having to open up an account with metamask, then manually add the coin, it was all too much for me, made too hard and that sort of thing shouldn't be hard imo A big red flag was the extension to the ico, clear greed kicking in there by the people behind it The final straw for me was moving the date, that was a clear sign of a con, get theirs out, leave everyone else high and dry so I dumped mine as soon as I was able But odd still, and this is the bit I just don't get. When people started really digging and going to linked in, the business addresses and it all began to unravel, so many people were saying nah, it's all good, this is fine, it's all fine I'm sorry you invested so much, it seems you can handle it, which is good. Wish you all the best.
u/PinkleWicker777 I hear ya, but most of your arguments are exactly what I was saying. Most of those things happened after the investment into the ICO would have already happened. If things like that were happening before or during the ICO, sure, red flags everywhere, not the pre & during ICO was relatively well done. For instance, the extension of the ICO. Yeah, that was not done well, BUT, if you were already in an earlier stage - not really anything you could do at that point, you were locked in. So, like I was saying, the red flags started happening towards the end of the ICO/after if ended. As far as the Metamask argument you make, I have to disagree. If a coin is having an ICO, by definition, it doesn't exist yet, and will not appear in a wallet. That's why Metamask & every other ERC-20 wallet as well as DeFi protocol allow you to manual add tokens. Metamask wasn't the only option - you could send it to any ERC-20 compatible wallet of which there are many.
Well explained and I agree. Thank you
spent 500.00 stupid money
I would sell and put it into Safemoon but gas fees are so high it barley makes sense... Maybe I will just delete of TW and CMC and check in in two years.
Where can you even sell it at? Sushi swap doesn't have enough liquidity.
Wow, someone really is flogging a dead horse
My wordt investment