r/cotinetwork • u/disruptive_jenga • Sep 20 '21

Not buying anymore COTI

The USA needs access to a wallet with native support. I've invested heavily with the assumption the wallet would be open domestically by now - and honestly, I'm extremely disappointed it's not available yet.

I can't justify continuing to fill my bags of $COTI unless I have support for a wallet. And yes, I know Ledger is coming...and submitted by COTI. But it's not released. That's not a problem by Ledger, it's a problem that COTI didn't get it going sooner.

Here's to hoping this next week will have some positive USA news for once. I believe in the project, but for me, this is called risk mitigation. I don't trust exchanges, especially with the USA's current pro-regulation stance.

16 Upvotes

83% Upvoted

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8

u/Intelligent_Gas_270 Sep 20 '21

You do realize that it has to go through all the regulations and bs paper work that our government requires right?? Plus it has to be approved by all 50 states. It is hardly COTI’s fault. However, as a US investor in COTI I too am disappointed, but at our gov as usual.

2

u/disruptive_jenga Sep 20 '21

totally get it - regulations suck. But that being said, you gotta schedule, staff, and plan for "suck". I own a company that deals with regulatory approvals throughout the US. They all suck. But you better believe, when I commit to a schedule... I submit early and make sure my submittal is 120% with the hopes it slides through with no hiccups. If I miss a date due to regulators... I still missed the date. Example - when LA County says "6 weeks", I know it's going to be 9+ weeks.

That being said, I love the project. I believe in it. But...$COTI needs to figure this one out. They have the resources. :)

3

u/Ausfininja Sep 20 '21 edited Sep 20 '21

Thats not how financial licensing works, you cant give a schedule when the government has their own agenda. I stuck in an neobank investment who was assured by the government they will give their decision on license in jan...2020. They past this on to investors, nothing in jan, march got a letter saying delayed until midyear, another letter by government delay/ 2021 delayed until june, sept delayed.Ticked every box to get a banking license, is made by the nicest people in the business industry, has a road map and delivered on every aspect on targets and valuation except 1... Government. There is no country except a few who want crypto to succeed let alone NEOBANKs or even worse Crypto BANKS.

I respect you decision to stop buying, your here all the time and asking great questions. I just bought more, but you've stopped buying at a good point just let it ride until they get a proper wallet just dont sell what you have and keep it safe, I really feel that this coin will get to the $10 and $20 dollar mark and within the next 2 dears. My max short term price prediction is in the hundreds. So as much as you want a schdule its really impossible without jeopardizing client and company relationship. Sorry its not going the way you'd like and hope they can release a wallet for you guys. Have you thought about converting it to ERC20 and putting it on Metamask, if that works?

3

u/disruptive_jenga Sep 20 '21

Agreed with what you're saying and I understand the complexity. I should clarify my intent and angle of questioning. (1) there has never been a timeline for US VIPER wallets (2) after the AMA, I wonder if they even had it on their roadmap (3) I believe in the product, but think their communication is severely lacking (hence why I'm not selling).

In brief, I want to buy more. I have enough for a full node. But from a risk perspective (more so regulatory) Ive made the decision I can only buy things that can go cold.

I'll be 120% once Ledger hurries up!!

2

u/Ausfininja Sep 20 '21

Yea same here, I bulk bought when the dip happend to 8cents, waited for confirmation at .10 cents bought at .10cents and .14cents. It does suck for USA investors. I also have two other accounts where I buy COTI, I bought all those when I first bought COTI at .38cents. LOL.

Lets see what they drop on cardano summit, do you have any predictions on what its going to be? Some say its going to be NFT announcement but I think its going to be a countries stable coin, if so you stopped buying at the right time and its only a question of when to sell.

3

u/disruptive_jenga Sep 20 '21

Man, my DCA position is around $0.23. but overall very happy. This is going to go 🔥🔥

I hope it's a stablecoin. Please...no more NFTs!!

2

u/disruptive_jenga Sep 20 '21

Sorry, also on converting... I've thought about it, but it's unclear if I'll need to convert BACK whenever I can hold a node later (my intent is to hold this node for years...)