"A recurring challenge for bitcoin and other cryptocurrencies is how to make them work in the real world." - Bloomberg
The meteoric rise of cryptocurrencies over the last several years has raised questions on how these different digital currencies can be used in our day-to-day life and if it's truly possible to detach ourselves from FIAT currencies and transition to a crypto future.
Two companies that are attempting to meet this challenge head-on are Monaco and TenX. Both companies attempt to make real-time purchases possible by providing payment platforms with their respective cards and applications. They are in essence being intermediaries between wherever your assets are located and wherever you want to spend your assets at low exchange-rate costs.
Monaco has gained a lot of attention over the last several days as its token as rapidly increased in value due to its addition in a large Chinese exchange (Binance) and in anticipation of its app release, which will mark the first major release for the company.
At the time of this post it is priced at $24.33 per token, with a market cap of $238,749,549 and a circulating supply of 9,814,825 MCO. It is up more than 100% from just several days ago.
While TenX has not been getting the same publicity has Monaco, this is very much intentionally done by the company as explicitly stated by Co-Founder Julian Hosp in their weekly Q&A (something that Monaco does not do), around the 8:30 mark .
https://www.facebook.com/tenxwallet/videos/1942883329262204/
TenX has denied payment requests from exchanges in order to have their token featured, something that would undoubtedly increase the price of the token as it did for MCO. This is due to the fact that the company is much more focused on long-term growth and providing solutions to as many use cases as possible. In the words of Julian they would much rather focus on raising the value of the token by supporting as many currencies as possible rather than raising it by generating hype.
In fact, the company has been so dedicated to organic growth that it has barely publicized the major releases that it has had and is having in the future. While MCO is just pushing it's first application release TenX debuted it's web app in an open beta last week, intentionally failing to immediately mention this on social media. TenX is also finalizing it's iOS app and is expected to have it on the App Store before the beginning of September, much like MCO which has been hyping the release of it's app for weeks.
The PAY token is currently priced $4.27 with a market cap of $446,904,840 (almost double MCO), and a circulating supply of 104,661,310 PAY. While speculators are hyping up MCO and attempting to pump it's value, this is all purely based on speculation with little evidence of a proper working product. TenX has put out a working product that supports more currencies than MCO does, as evidenced by this video of someone using their TenX card to purchase a beer in Singapore!
MCO may be priced higher per coin because of its low circulating supply and hype generated by speculation, but TenX is the superior product with a clearer long-term vision and a much more transparent upper management team. Don't get caught up in the FOMO and hype, invest in products not promises!
I have both, not into the whole tribalism of my coin is superior in the crypto world. They both have good business models and are in different regional markets.
Truth revealed on old tv show, many people still ignorant...
https://dtube.video/#!/v/ragetester/6xicf9st
Feed the government!
Or was I looking for a different f word?
I agree that TenX is the better of the two but in my opinion neither will succeed long term as there just isn't a strong enough use case to use this over fiat. It's more hassle, more expensive and involves selling crypto that you could otherwise hold.
your logic implies fiat currency is going to be here in a few years..
I was into MCO initially vut somewhere along the way I invested in TenX anf believe it has thw better business model for future growth.
My favorite crypto...PAY
The business cases on both these coins in no way justify either of their market caps. A blockchain app and a Visa card are not rocket science and the projected card volumes on both are a total joke. Enjoy the hype pump on these coins while it lasts, then get ready to short them
I think the card is more important than the token: https://steemit.com/tenx/@wekkel/the-tenx-play
Thanks, I read your post. I think the card is a good thing, but there are going to be a hell of a lot of "me too" cards soon as well and therefore a lot of competition in this space. I can't see why TenX is really special as a card. Also, although I agree that it makes sense to buy the dips, I don't need a card to do this. The only additonal thing the card really offers is the ability to cash out quickly after the recovery from these dips.
"the ability to cash out quickly" is exactly what TenX offers. The reason I am singling TenX out is because they have a working product (although card issuance is delayed somewhat).
Great post kab, i think its interesting to note that monaco is down 22% to around $11
Thank you for your overview. I love the TenX project and like the team behind it. I really enjoy watching the TenX videos with Julian and his private YouTube channel. I think he and his team will rock the thing.
Ordered my tenx card, can't wait!
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STOPGreat post. I always speak about utilization. I always give DOGEcoin as a good example, sure it's value is severely small. However, DOGEcoin has managed to stick around for awhile. It's managed to find a way to be utilized online. A lot of these companies are looking for a get rich quick scheme.
The MCO token only has 9million circulating supply so that's why I think the price has went up. But I think that TenX tokens are probably a good investment as the price has hit ~ 86$ so I guess we just have to be patient.
TenX is alot more than the card, they are working in alot of backstage things, you can see the Facebook livestreams to get more info. TenX allready have more than Monaco but lets wait for 31 august for the real news.
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STOPgreat article
Really hepful. I have tenx but getting major fomo for the others! What about Centra? - its claims to support loads of cryptos from the get go
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STOPThe Monaco brand and design language is way stronger, this will help with mass scale adoption
Sorry, but I have to disagree for a whole host of reasons. Please check out my article on the subject, I would really like to change your opinion of Monaco as a legitimate contender:
https://steemit.com/mco/@smithappens/monaco-card-an-exciting-future
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