CRYPTOCURRENCY

Come At Me CRO

Crypto.com drastically reduces supply, burning 70 billion CRO tokens in the “largest token burn in history”

Jesse J Rogers
Feb 27 · 13 min read
Photo by Adam Wilson on Unsplash

For copyright reasons, I can’t make the headline image of this article a gif of the Night King resurrecting his fallen opponents on Game of Thrones. But if I could, you better believe I would, because that’s how powerful I felt when I bought another 24,000 CRO.

See, the price dropped to $0.16 only one day after I had bought 7200 CRO at $0.23. I realize most people would have negative feelings about seeing 30% of the value of their investment evaporate in a single day. But I was absolutely thrilled because I still had some ammo in reserve to fire.

So fire I did.

I felt the same way that I do when someone goes all-in against me preflop, re-raising my pocket aces.

“Okay. I call,” I said, grinning ear to ear at the crypto.com phone app like I’m the Cheshire cat in Alice in Wonderland.

Why am I so absurdly confident in making this play? Should you follow suit?

I’m not a financial advisor. I urge you to do your own research.

But in this article, I’m going to put all my cards on the table. I’ll hold nothing back, the good, the bad, and the ugly. I’ll also gladly answer any questions in the comments to the best of my ability.

What you do with this information is obviously up to you to decide. I can’t tell you what is ideal for your situation or guarantee that anything will or won’t happen. But I can tell you that I’ve put my own money where my mouth is, and I’m in it for the long haul.

Photo by Clifford Photography on Unsplash

After all your questions are answered, if you decide you want a top 20 coin with the potential to jump into the top 10, then cool. Click the affiliate link at the end and follow the instructions so we can each earn an extra $25 on top of our initial investment. I’m not linking it yet though, because you’re not ready.

This article is highly time-sensitive, but I only want you to put chips on the table if you fully understand the value proposition of this company, and if you clearly understand the risks for CRO specifically and crypto in general. So if you save the story, don’t put this off to read for very long.

This is going to be a wild, bumpy ride. Some of you might feel whiplash and a knot in your stomach from the price movements. This opportunity is not for the faint of heart. I’m only inviting “diamond hands” on this adventure. The squeamish “paper hands” who sell quickly and fold under pressure should probably sit this one out.

Why Invest in Crypto?

I used to play a ton of Starcraft in high school and college. I wish I had been just a little bit better at it (but not too good!) because a friend sent me a picture of the reward structure for a Starcraft tournament that was held many years ago.

1st place: $500

2nd place: $250

3rd place: $100

4th place: $50

5th-8th place: 25 BitCoin

TWENTY FIVE BITCOIN! By a simple stroke of good luck, four gamers’ mediocre play 11 years ago netted them $1.25 million worth of value today. And that’s just at current prices. It’s going to be worth a whole lot more than that if they continue to hold.

The world is quickly being sorted into a new caste system of “haves” and “have nots”. I’m not going to try to sell you on some utopian dream of equality, harmony, and infinite prosperity (even though all of that is technologically possible now). No matter how great our tools and tech get, I’m not convinced that the depressing realities of the human condition have really changed much.

I read the perspectives of ancients like Seneca, Marcus Aurelius, and Epictetus pretty regularly, and I relate to them easily because our society is still messed up and needlessly unfair in many of the same ways that our ancestors would recognize. The arbitrary nature of the socio-political and economic game coupled with the widespread calloused disregard for our fellow human’s suffering is a persistent feature of civilization.

But the asset type that measures and stores wealth certainly has changed.

The world is currently separating into “coiners” and “no-coiners”.

If you want to stay a no-coiner, then just stop reading this, take this blue pill, and wake up tomorrow believing whatever it is that you want to believe, Neo.

Alternatively, be sure to subscribe at the end of this article to get in-depth guides where I’ll show you everything I know about how deep this rabbit hole goes.

You might be hesitant, but ask yourself this. Did you sleep through the opportunity to buy Microsoft in the 80s? AOL in the '90s? Amazon in the early 2000s? Bitcoin in the 2010s?

Did fear, uncertainty, and doubt (FUD) hold you back from making a small investment that could have earned you millions over time?

I know that pain all too well because I did too. But this time, I’m not missing out again.

Don’t get me wrong, I realize fear of missing out (FOMO) can be taken advantage of and exploited. The awareness of being able to recognize when we’re experiencing it is important to not falling prey to traps. But FOMO shouldn’t necessarily stop you from taking any actions at all, because that fear exists for a very good evolutionary reason. When the environment changes, we had better adapt! A winning strategy is to look around and see who’s getting the results you want, learn from them, and then do what they do.

That’s easier said than done, but even if crypto and computers are confusing to you, that’s okay. At this stage of industry development, you don’t need to be a programmer to participate in crypto just like you don’t need to be a mechanic to drive a car. The whole modern world is like that. You probably don’t understand HTTPS protocols either, but that’s what enables you to read this article.

For me, the technical workings of crypto aren’t as interesting as its potential applications commonly referred to as “use cases”. Why would you need a coin? What can it do?

In the first and most famous use case, Bitcoin has by now established itself as “digital gold”. Its original use case outlined in Satoshi Nakamoto's whitepaper was actually the goal of becoming “digital cash”, but frankly the technology to accomplish that wasn’t here yet when it was created. But digital gold turned out to be a successful pivot, and good enough to make Bitcoin a resounding success.

Oh, in case you were wondering, digital cash is here now too. It is borderless, permissionless, secure, scalable, and decentralized. I’m talking of course about Algorand. The long-range possibilities of Algorand are thrilling to me for several reasons. But that’s a conversation for another time.

In this article, I want to talk about the use case for Crypto.com because I think its near-term prospects for explosive growth are extremely high.

Why Invest in Crypto.com?

When you go to an airport, you can get on a plane which will send you to other nodes (which authors also call “cities” when we don’t try to make ourselves sound cool) in the transportation network.

Similarly, a crypto exchange is a central hub. Your onramp into the world of digital coins and tokens. That’s where you can transform the dollars in your bank account into holdings of various kinds of cryptocurrencies.

In the same way that each airport offers flights only to certain cities, each exchange only lists certain coins.

The largest exchange by a good margin is Binance. It has its own coin, BNB, which in the past month has skyrocketed to become the 4th largest by market cap. This is because the use case for exchange coins is incredibly strong and self-evident. By holding a certain number of exchange coins in your account, or by spending them in a well-incentivized way, you can get discounts and earn various rewards.

Binance Coin’s value has shot up and stabilized to about 6.5x of what its price was just 3 months ago.

Screenshot of BNB taken on Crypto.com app by author

It looks primed for another movement. I expect that it might double or triple again shortly, and BNB certainly has quite a lot more runway left during this bull run. It’s a great investment.

But I’m not looking for great investments. I’m looking for life-changing gems. I’m looking for 10x-50x returns, not the 3x or so that Binance Coin still has left to go. I’ve mostly missed the boat on BNB, that ship has sailed for me.

This brings us to CRO.

Screenshot of CRO taken on Crypto.com app by author

CRO has many similarities to BNB. Its $3.68 Billion worth of market cap is serious by any measure, enough investment to make it a top 20 coin.

But CRO is poised to attract many billions more capital.

One of the main factors depressing its price thus far has been what’s called “tokenomics”. It is simply too abundant to command high prices. There are 25 billion coins in circulation, with 100 billion minted and slowly being distributed.

But just a few days ago, the team began burning 70 billion of the undistributed coins, meaning only 30 billion CRO tokens will ever exist.

Let me say this again. The Crypto.com team is burning virtually all of the remaining supply of CRO. CRO instantly got much more scarce and valuable, but not many people know. This news is only a few days old. The word hasn’t gone mainstream yet and the short-term demand and supply haven’t changed enough for this to show up in the price. If you believe in the efficient theory of markets in this world of scarce attention, you're simply wrong. This relatively unreported piece of news is, at least as of this writing, about as close to insider trading as people like us are likely to get.

There was a quick spike to $.28 when the news was released, but it quickly fell to $.16 as early investors took profits, because there just aren’t enough people who know about this yet to move the market. But they’ll know soon! And that’s why I didn’t sit on this, not for an instant!

Anyway, the token burn is headline news of its own right, but it isn’t even the primary reason for my excitement.

There is a main net launch scheduled for March 25. When that happens, CRO will no longer be a token running on Bithumb’s blockchain, it will be its own coin running on its own chain.

Crypto.com is also growing rapidly. Since a fundamental rule of networks is that their value is logarithmically proportional to the size of their user base, it is reasonable to expect a massive price jump as more and more users pile on.

From October 2019 to October 2020, Crypto.com went from 1 million users to 5 million users.

Only 4 months later, it crossed the milestone of 10 million users.

The user-friendly app makes it easy to understand why it is catching on. I love everything about it and so I’ve moved a lot of my own holdings over from Coinbase.

Even more interesting, there are Visa reward cards that allow you to spend your crypto freely in the real world anywhere that Visa is accepted. I cannot overstate how important that feature is going to be for some users, particularly in countries with weak economies where people rely on remittances from family members. There is no better way to remit than to use crypto. The more CRO you hold, the better the Visa card rewards you get.

For all these reasons, Crypto.com is the best bridge I know of between digital currencies and the physical world.

I saved the best for last. The CRO tokens that power it will be returning a 20% annual staking reward yield. Yes, you heard that right. Twenty. Percent.

The reason is that users which hold CRO are the ones who secure the delegated Proof of Stake network. There are no miners. There is no middleman. On March 25th, there will simply be a decentralized network controlled, secured, and collectively owned by CRO coin holders like me (or us, if you decide to join me).

Know the Risks

Cryptocurrency as an asset class does have some unique risks which more established assets like stocks, gold, or land do not.

As you may have noticed the crypto market is worth $1.5 trillion dollars, but about $900 billion of that is dominated by Bitcoin.

When Bitcoin rises, altcoins ride its coattails. But when Bitcoin sneezes, the rest of crypto catches a cold.

For an asset type that markets itself as offering decentralization, that’s potentially a lot of concentration of wealth and power in one set of hands. No one knows who Satoshi Nakamoto is. With my best Ancient Aliens impersonation, I ask you, “was Nakamoto really the Greek Titan Prometheus, bringing fire to humans? Some ancient alien theorists believe so.”

But if Nakamoto’s identity was ever revealed, then as Coinbase describes in its prospectus, that could cause a tumble in value. If Nakamoto ever sold the 5% of Bitcoin he started with, that too could flood the market and crash prices.

Put mystery and intrigue aside though. The far bigger risk comes from governments, not Satoshi Nakamoto.

Nigeria impressively became the second-largest peer-to-peer trading market of cryptocurrency, behind only the United States. Instead of excitement for the growth of a hot industry, their government issued a ban. Fraud reduction and confronting terrorism is often trotted out as the rationale, but the true motive slipped when Nigerian Senator Sani Mohammad Musa admitted that its own central bank’s currency is becoming worthless compared to BTC.

America’s Warren Buffett has famously called Bitcoin “rat poison squared”. But “India’s Warren Buffett”, the billionaire Rakesh Jhunjhunwala, has gone a big step further. He called on the government to ban it altogether, saying that “the power to issue currencies should only be with the state.” The government seems to agree and plans to ban it in India completely.

It isn’t the first country to feel this way. Macedonia, Nepal, Bangladesh, and several others have decided they want nothing to do with crypto and issued bans.

But fortunately, most countries have so far decided that Bitcoin and the exploding constellation of altcoins pose more of an opportunity than a threat. You can find a slightly outdated yet very cool overview of what various governments think of crypto here.

In any case, the United States has at times given mixed messages. A few months ago I lost a painfully significant chunk of my portfolio when the value of my Ripple was slashed in half following a surprise lawsuit by the SEC.

Whether or not the suit is legally sound, it has already cost Ripple as well as investors like myself a fortune.

Also, Treasury Secretary Janet Yellen caused quite a stir by speaking negatively about Bitcoin, characterizing it as “inefficient” and claiming that it is “mainly used for illicit financing”. Like anything else in this world, Bitcoin can and has been used by criminals to some degree. But Bitcoin’s blockchain creates a public and immutable record of every transaction, creating loose ends that criminals don’t want. Perhaps that’s why fiat currencies like the dollar and Euro are used 800x more for money laundering. Janet Yellen is either ignorant or lying about this, and either possibility is frankly terrifying when coming from someone of her stature.

Since truth matters very little in politics, there’s always the possibility that the United States could eventually print so much funny money that the only way for central bankers to keep up the illusion of value for the dollar is to admit defeat and follow the example of Nigeria, India, and Macedonia — which have led the way by courageously shooting themselves in the foot.

You might laugh, but government idiocy should never be underestimated. It poses a particularly serious risk in the case of crypto, as the previous examples illustrate.

The public doesn’t yet understand crypto well enough to recognize how truly nefarious it is for a government to deny their people access to this asset class, thus condemning them to remain controlled and impoverished. Because most people don’t understand crypto very well yet, they may fall for the lies and propaganda. It is still possible that the most corrupt and authoritarian governments will get away with crippling their people by banning crypto.

Right now we’re still good in the USA and most other places. But I have to level with you that Crypto.com, like several other top exchanges, is based out of Hong Kong. The relationships between Hong Kong, Bejing, and Washington are always very complicated and in flux these days.

Most of all, it is always high risk to put all your eggs into any one basket, no matter how attractive that basket is. That’s why I always keep a diversified portfolio of crypto that includes CRO competitors like VGX. I also have some holdings in Algorand, Ethereum, Bitcoin, and many others.

Are You In?

My portfolio isn’t worth much yet, but in three to five years, let’s talk. That’s the way this thing works. It takes time to grow.

Just as farmers don’t dig up their crops every day to see if what they’ve planted is growing, in the same way, investors must give our assets time to develop.

I’ve taken a position, placed my bets, and now all I can do is spread the word and hope that you also want to join me at the top. When CRO is worth around 10x what it is now, I’ll take 10% of my holdings out as profit and use that to buy a rental property. When it is 100x of what it is now, I’ll probably take out another 10%. But the vast majority of my CRO will remain staked in my wallet, earning me more CRO. In maybe five years, but certainly less than ten, I do expect to retire off my gains and I’m not afraid to say so.

If you see what I see, then don’t miss out. Take action. By far the costliest decision is to sit on the sidelines as I did for 20 years.

Please leave a comment if you have any questions. If you find value in this article, please share this message with everyone you know to give them a chance to get in early too. Don’t be stingy with this life-changing knowledge, we’re all too small to make a difference in the price anyway. The key is for us little guys to get in before the whales make it impossible to get a piece.

And if you want to spread the word in a way that benefits you, then ask friends and family to use your own rewards code instead of mine. I don’t think there’s anything wrong with that. Just be sure to collect your $25 by investing whatever minimum amount of money crypto.com requires to unlock the bonus.

Thanks for hearing me out! The link to claim your promised $25 is here.

If you want to use the code that will also work. It is: y6u76tjd33

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Jesse J Rogers

Written by

Transform ourselves to transform the future. Reach me jesse@coachforcrypto.com

Compounding Interest Podcast

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Jesse J Rogers

Written by

Transform ourselves to transform the future. Reach me jesse@coachforcrypto.com

Compounding Interest Podcast

We are a community of academics, investors, and entrepreneurs that publish

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