I dont see this talked about much on here.
This coin will easily 10x by April when they launch the platform.
>peer 2 peer lending
>provides access to credit anywhere in the world
>anyone can lend and get interest on their money
>co-signer mitigates risk of default
delete this
we know and we're not done accumulating
>tfw when all in on vert and want to move to this but not enough funds.
Hopefully vert doubles soon and then I can get in on this before it moons.
Just let it do its thing. No need to fomo
100x if banks adopt the network
It jumped 40% today. I'm pissed because I'm spread too thin to put anything in. But yeah, this is one of the most undervalued coins around. Credit lending through the blockchain is a huge untapped market.
bought a few last night
didn't go all in though because i was hoping the price to drop a bit, happy to be wrong!!!
but i doubt we'll be seeing 1400 - 1500 anymore
i think it's flooring at 1700
Delete this retard
so the people banks wont lend credit to can now loan from Ripio? it that's the case it sounds risky
GOD DAMN IT I SOLD AT .00032 ETH
When will it dip so I can buy back in?
Never youre retard. Just buy back in now.
And OP, stop showing biz this coin they will eat it like a bunch of gluttonous pigs and then shit it all over the place when they don't have the patience to digest and absorb the gainz. Thx.
lending always carries risk. whether it's made by a financial institution or a loan shark.
RCN loans are based on co-signed smart contracts that significantly reduces loss given default because the co-signer absorbs the loss in exchange for a pooled fee that all lenders contribute to. it's like an insurance pool
it has to take a dip to about .00028 before it rises again
It's a game-changer for people in 3rd world countries. 65% of people in South America don't have access to traditional banking services. And the Ripio token is only an intermediary for actual fiat lending.
10X is crazy talk, but 4X is probably realistic
Are you measuring in Eth?
ok, so lets say i get a loan and dont pay, all lenders lose a bit?
I'm mostly concerned that when banks hand out loans, they run a background check on you to see credit history. Does Ripio have access to that info? and what do the interests or payment plans look like?
I haven't really studied Ripio on my own, just seen these shill threads couple of times
Ripio acts a co-signer to insure the lender does not get fucked over. There are billionaire investors behind this project, so they know how to handle this type of shit.
Also, think about the majority of the borrowers will probably be in countries that are poor or they will be unbanked, so I am sure that Ripio will have some sort of enforcement to make sure pajeet street stays clean.
lenders don't lose anything
the co-signer absorbs the loss
lender is paid in full and the co-signer collects the defaulted amount via the legal channels in the borrower's country.
as for background checks and credit scoring, RCN does all that and taps into your social network etc..... they have down to a science. they could also check your credit score from local credit bureaus which is what financial institutions do
think of the tremendous success that microfinance has enjoyed in third world countries
google muhammad yunis and check out the microfinance bank he founded. the guy is a billionaire because he loaned poor people modest amounts and charged them outrageous rates. longest loan duration is less than a couple of months and once the principal is repaid he loans them back some more.
RCN is basically microfinance on steroids since it's decentralized and anyone/anywhere can lend/borrow
>There are billionaire investors behind this project, so they know how to handle this type of shit.
These people can make mistakes too
>I am sure that Ripio will have some sort of enforcement to make sure pajeet street stays clean
Mm I don't think it's safe to assume details about the project without any facts
Ripio is a worthless pile of dogshit— the token is to use the platform. All ‘actual’ utility tokens go to 0: people forget that making it HARDER to use your platform leads to no usage.
Thanks for the heads up at an ath user
>buy in
>get dumped on
every time
Ok now I got it, thanks.
What defines the value of the token? Is it tied to the total amount of money in the "pool"? If I buy token and become a lender to the pool and then that money is loaned to somebody, it would temporarily decrease the token price?
You have not read the whitepaper or researched the project at all, it's very clear to see, so move along.
True, if it hinged on one VC but a collection of topnotch VC funds that invested in Ripio....mmmmmmmmmmmmmmmmmmmmm
I wonder what sort of information they have that will soon be announced
sold all mine ill buy back in the dip at 1400
protip: Sell when peopl are greedy, buy when people are scared
bridge currency for network transactions
Guaranteed 30% a month loaning out your RCN? Um... ya, of course it'll 10X. I'll take RCN over shit like BitConnect any day.
>10X is crazy talk,
POWR did a x25 in a couple of days and it's just a stupid token for selling energy...hype something enough and a x10 is child's play.
I don't think people realize what you can do with RCN and the fact you can earn interest on it. There are loans happening right now on the alpha platform. You don't need to rely on market hype or moon bullshit, you can simply make income if you wish.
The FULL LAUNCH is not even far away in April. Expect a massive climb before then.
Really dumb to sell now the volume is climbing fast, this is about to explode another 50%. But I wouldn't expect anyone posting memephrases to know what they are doing or talking about.
If you read this and still don't have any RCN you ARE dumb money.