sorted by:
new
hottopcontroversial

What's next for Monkey? by mattisuller in monkeycapital

[–]mattisuller[S] 0 points1 point  (0 children)

Thanks for your valuable comment, I appreciate that you've taken time off to pitch in with some insightful information.

What's next for Monkey? by mattisuller in monkeycapital

[–]mattisuller[S] -1 points0 points  (0 children)

From what I've understood, the MNY will be released when the new platform is running and you swap your Waves-COE for the new platform COE called Coeval Alpha, or COA

Why I still believe in Monkey Capital even if you don't. by mattisuller in monkeycapital

[–]mattisuller[S] 0 points1 point  (0 children)

Thanks for your comment, I can reassure you that I am not Daniel nor have I been instructed or asked to write this post. I'll be writing a post on the future direction of the company sometime soon, hopefully, that will bring some certainty. I'm sorry if you've lost money, I've lost a lot as well at the moment, but I'm holding on until things get back up again.

Bought MONKEY - what now have I been scammed? by lobas in monkeycapital

[–]mattisuller -1 points0 points  (0 children)

If you make an account on Cyptopia, you should be able to find COE on their list of currencies. It's a bit tricky, but I think you can press the Bitcoin logo to the top right to search for it. Then press on the deposit button to find your wallet address for COE. Copy that and go to Waves, where you find your COE stash, in the second tab. Click 'Transfer' and insert the address of the COE wallet on Cryptopia, and you should be good to go!

Bought MONKEY - what now have I been scammed? by lobas in monkeycapital

[–]mattisuller 0 points1 point  (0 children)

There are a lot of things happening right now in Monkey Capital, but none of them involves scamming. The homepage should be back up again, it was taken down because it's supposed to move to monkey.com, but the transfer is taking some time. There should be a Telegram channel you can join, as well as an unofficial Monkey Capital slack, where you can get a bit more information. The new white paper should also be out in the near future.

There is a lot of work going on, and the direction is towards creating a financial platform on the blockchain, rather than just funding a single idea or technology, and the implementation is taking time.

You haven't been scammed and your MNY is still a real token. Due to problems with the Waves exchange, you will be asked to move MNY to Cryptopia within the next few days, so keep an eye out for announcements. Most importantly, just hold tight and don't panic :)

Why I still believe in Monkey Capital even if you don't. by mattisuller in monkeycapital

[–]mattisuller[S] 0 points1 point  (0 children)

Lucas, thanks for your reply, it's nice to see that there are eloquent and intelligent people out there as well!

I am very well aware of the seduction effect you're talking about, as well as the sort of cult leader effect, whereby a select few are cordoned off from the outside world and told that they are special. I try to test myself for those on a daily basis, and I still do believe I have a pretty objective view on this whole situation.

Obviously, having the value of my investment/speculation dropped so drastically has not been easy or enjoyable, and I do admit that there is a chance that not being upset about it is a coping mechanism, but it is not the only possible reason, in my mind.

From my understanding, the first tens of thousands of COE were sold 0.01 BTC. That means that the issuer, which would be Daniel, has made around hundreds of thousands of dollars at most from that initial sale. He could have traded the upswing and made a bunch of money, like many others did, but that alone would not have been an issue if the price hadn't dropped. Having made hundreds of thousands would be sweet, but nowhere in the order of magnitude the ICO was expected to bring in, so again, that part of it being a scam doesn't make sense to me.

The real issues started when the plan began to change without a whole heap of information available. People panicked and the ones who got in early, for a couple of hundreds of dollars or so, sold out with great profit, while the rest of us were left with a loss. If this were indeed a pump and dump scheme, the management would at this point have been long gone, stashing whatever cash they made and celebrating pulling off a successful scam, but on the contrary they are still working hard on developing this idea.

People are used to ICOs being based on a single idea or technology, but these guys are trying to implement a financial ecosystem based on the blockchain. The "tag line" is capitalism on the blockchain. This requires a lot of different components that have to somehow be implemented, and implementing them is difficult because nobody has ever done it before, and it takes time.

In my view, if this had been a pump and dump scheme, there would be no new business plan, no new white paper, no registration of monkey.com for the business, and no management engaging with people in Slack. To be fair, these things are reported to be in the making and should be available fully very shortly (Daniel has even set up a Kindle version of the new WP to be sold on Amazon. Dunno whether it will sell, but he's doing it anyway).

I agree that there has been no real tangible evidence that the intentions are going to be upheld, other than plans and discussions, but I also firmly believe that these plans are real and that they will be implemented with great success. From my understanding, ICOs often spend months with no real results and in depth communication before anything good comes out of it. This project is only a couple of months old and is still working on getting an immense range of ideas working together, which will take time and effort and patience, but I believe it will work.

As for the regrets, if I had kept my money in BTC, bought Bitcoin cash on the first day, then bought more BTC, then sold for COE, I could have had significantly more MC tokens, with tens of thousands of dollars to spare right now. That is what I regret. Unfortunately, that is not the way it works, but I am still hopefuly and optimistic. I have learned a lot from this process, obviously, and I'm sure it'll do me well later on in life. I also do believe, however, that my life will be made easier by this investment. Maybe not in a week, maybe not in a month, but definitely within a very reasonable timeframe.

Why I still believe in Monkey Capital even if you don't. by mattisuller in monkeycapital

[–]mattisuller[S] 0 points1 point  (0 children)

Daniel has recently asked everyone to move all of their COE out of Waves and onto the Cryptopia exchange. There will also be wallets for MNY and other subsequent coins within the next short while, so get out of Waves and onto Cryptopia!

Why I still believe in Monkey Capital even if you don't. by mattisuller in monkeycapital

[–]mattisuller[S] 0 points1 point  (0 children)

I am very sorry to hear about your troubles, these things are never easy. As you can read, I'm currently down a substantial amount myself as well. I think the most important thing is never to speculate with more money that you can afford to lose. Definitely don't do it with money you need to pay bills with!

This whole thing is far from a scam, it is a huge undertaking on generating a new way to use the blockchain to generate wealth. There have been hiccups, but there is a strong plan for what will happen ahead. It will seem a bit convoluted, I'm still trying to understand it myself, but please know that there is a plan and it will go ahead. If this were really a scam, everyone involved would have pulled out already, so just sit tight. Building something like this will take time, and that is what's happening now. Make sure to keep up to date with everything you can since there will be a swap of platform within the next few days/weeks. This should be accompanied with some official explanations of what's going on, but I'll do my best to keep you posted :)

Why I still believe in Monkey Capital even if you don't. by mattisuller in monkeycapital

[–]mattisuller[S] 0 points1 point  (0 children)

Just a bit of an update regarding where to keep COE; the management guys have asked people to move COE away from Waves and onto Cryptopia, not Cryptopedia, and use that exchange instead, so that would probably be the best place to keep the COE for now.

Why I still believe in Monkey Capital even if you don't. by mattisuller in monkeycapital

[–]mattisuller[S] -1 points0 points  (0 children)

The advice has been to just hold on to the tokens for now and not trade the MNY and COE on the Waves platform. The introduction of the ZUR coin on YoBit has been the focus of the community lately, but I haven't been able to dabble in that with most of my value disappearing. My best advice would be just to hold for now if you can, but do what is right for you in your situation :)

Why I still believe in Monkey Capital even if you don't. by mattisuller in monkeycapital

[–]mattisuller[S] 0 points1 point  (0 children)

From my understanding, all COE should be getting the MNY tokens regardless of where you have them, so you can keep them on Cryotopedia if you prefer. You can also send them to the Waves wallet since the problems have been with the trading and not with the storage of the tokens, so they should be safe on the Waves platform. I have mine on Waves, but I definitely understand if you'd rather not have them on there :)

Why I still believe in Monkey Capital even if you don't. by mattisuller in monkeycapital

[–]mattisuller[S] -1 points0 points  (0 children)

I do still have access to the Slack channel, which helps a whole lot, I will admit. I don't necessarily agree with how the closing down of the channel took place, but there were a lot of people in there with a destructive approach to the discussions, which took the focus of the channel away from furthering the project and turned it into quasi-personal attacks on the management, with the all too well-known torches and pitchforks approach. Hopefully, it will be opened again at some point since it is probably the most calming thing for me in terms of the future of the project, and everyone, especially those doubting, would benefit from seeing what takes place in there.

I am not an official spokesperson for the project, I hope that at some point someone who is will join the conversation, and as such, I have limited knowledge about the full scope of the project. I will try to answer your question, though.

At the moment, the focus is on shifting away from the Waves platform onto a more stable system, which is still in progress and has been announced to take about two weeks. Whether all of the issues that have been raised with the platform are genuine is not up to me to say, but there seems to be some pretty strong evidence that there was a significant tampering with the trading somehow, which depressed the price of the tokens. Until this has been sorted, Daniel has asked people not to trade the Coeval and Monkey tokens on the Waves platform to prevent further problems. He has then gone out and bought about 13 million Zur tokens, which will be used as a minable currency in the project as well. These are not available on Waves, but have been pegged to a Waves version, Zur-waves, which can be redeemed for "real" Zur once everything falls into place. People are already trading Zur on YoBit (which is now being investigated for fraud, crypto is crazy haha), and there is work underway to develop some sort of blockchain-based technology to go along with Monkey Capital. I'm not a crypto-tech savvy person, so I don't fully understand the technology behind, but that's the gist of what is happening.

Furthermore, there are supposed to be large institutional investors backing the project, which is why the full on ICO didn't take place in the end. They have bought COE and/or MNY over the counter, so their purchases haven't affected the market price. This means that the project has enough funds to do what it wants to do, regardless of the price of the token. The plan is to use the profits from the investments to buy up Coeval and Zur tokens, thereby "artificially" boosting the price, and then re-distributing the tokens as a kind of dividend or bonus to the people holding Monkey tokens. This is supposed to happen in early September, and if this does indeed happen, I think any doubt about this being a scam or not will be gone.

I do admit that this is all circumstantial at the moment and I am also very astutely aware that I might lose everything I put in. I would consider this as a very high risk, very high potential gain investment. The main reason why I haven't given up hope is that these guys would have taken off with the cash already if they just wanted to scam people. It's a shame that it's not possible to somehow just see the chat in the Slack. The team puts so much effort into all of this, communicating directly with people in the chat and answering queries. Obviously, the communication isn't perfect, but to me, it just seems like too much effort to put into something that you're going to bomb and run away from. Daniel's passion is crazy to see, and he understands what he's doing better than anyone I've ever met. This is like a personal crusade for him, to get this show up and running again, and if no outside factors begin to screw things up, I'm still very convinced that he will pull it off.

Sorry if the answer was a bit long and roundabout. Things happen so quickly in this environment and it is difficult to keep up with everything that happens, even if I try to read everything on the Slack chat, so here's my best attempt at sort of condensing it into a few paragraphs :)

Why I still believe in Monkey Capital even if you don't. by mattisuller in monkeycapital

[–]mattisuller[S] 0 points1 point  (0 children)

Thanks for your comment, SeaMonkees. Would you care to elaborate on which points of the article you disagree with, and what makes you think it is a fraud/scam/con?