Who /comfy/ here?

Wind has changed, cant you feel it? And I'll be honest I don't really feel this project is worth it the token is only used to dampen fees if someone is looking for money they won't buy something for the fees they'll just take the fee, a lender/cosigner might use the tokens but chances are there will be a small proportion of cosigners/lenders to people looking for funds.

there's a ton of upward pressure.
Walls will be broken, It's already hit rock bottom before and this is still in extremely early stages.

However it has a low buying power with BTC, but it's only worth trading with ETH anyways

you're discounting the fact that consumer credit has very low penetration in emerging markets.

their financial system is prohibitive and expensive. RCN loans will be competitive on that front not just by reducing frictional costs but by providing competitive interest rates.

With new partners in Asia they'll be able to tap into SEA's retail loan market. very bullish news. as far as the token is involved. it's at the center of everything so higher loan volume equates to higher token value

Life is about getting more BTC user if I can only sell for eth what is the point?

that's a good point user, credit is something most places have no market for but they'll need to be aggressive to penetrate the unbanked. They already have 100k customers in South America for their parent project which is good.
Project is great but the token itself is not because it's a completely optional thing, unless there is a good system to burning tokens or/also a treasury that you can stake tokens into for burning as fees are required by nontoken holders, getting eth or btc back then the token itself will be weak under all market types.

Lending and borrowing is done in domestic FIAT
the token is the bridge currency to transact over the network; ergo the Global in Global P2P lending.

The token is not optional. the token is the backbone of the network, the Ripio Credit Network. I won't be able to lend in YEN to someone who wants to borrow in Pesos without RCN.

In the last hour it's gone down 9%

Now is the best time to pick some up, don't be an ass and get it at it's ATH

I read the whitepaper and the examples they explained in text discribed the token as being optional where you can opt for btc or eth in place of the token. Am I wrong?

I don't know which whitepaper you read but this is directly from RCN's whitepaper:

"Although Borrowers and Lenders will likely prefer to denominate credit transactions in a local currency, RCN Tokens will be required to facilitate transactions among the other agents in the RCN, as further described below. RCN Tokens will be required to access the RCN network given that agents' fees and obligations –
plus the corresponding distribution expenses within the network – are driven by the use of these tokens.
RCN Tokens also act as an incentive to each one of its participant agents to continue to participate in the network."

How do I increase my limit on coinbase?

I was initially optimistic for the 18th, but am starting to feel it will probably dip a bit with the overall lack of movement.

Do you think it'd be wise to sell a couple days early and buy back in, or do you think this news will launch it's real bull run?

check out the empty candlestick on December 11

30min volume was 40BTC. I wonder

next moon Mission. will buy tomorrow

FUCK I wish my internet was better I need to dump my other bags to catch this dip. Takes me like 5-10 minutes to do a single trade.

it's cheap rn

Comf af such an obvious play.

S America + Loans + Cartel = Duh

What does an empty candle stick even mean?

how much rcn do u hold?

you can't, it fucking sucks

only about 2k. hoping for a 20x lol

20k

lmao more like a x2/x3

20x was a bit much yeah, but are you seriously only expecting a 2x-3x?

Link your bank for a feeless ACH transfer. Takes like a couple weeks to go through though.

Rip im going to miss out on all these coins because of the dumb 250 limit. Missed ripple and now im going to miss this.

empty candles are red full ones are green

I forgot a buy order at 890, at first when I saw it filled I was incredibly comfy.

Now it's tanking more and probably BTC going into a bull run, anyway I'm happy, if BTC doesn't kill it it's still a decent entry point

Let's say I'm a poorfag and I want a loan. I go to RCN. I'm hooked up with a lender who lends me the amount I need. What happens if I don't pay it back? What leverage does the lender have over the borrower?

>inb4 read the whitepaper
I flicked through it, as far as I can tell in order for the borrower to secure the loan they must have enough crypto to match the sum of the loan. Which makes no fucking sense, why is he borrowing an amount of money that he already has?

incorrect

collection is in case of delinquency is done through co-signers who are agents in the jurisdiction. this is the localizing factor of the net work.

no need for collateral

im waiting to buy the very bottom. ive already made a lot of money with RCN and i think its set to lift-off. probably 1200sats in a day or two.

When do you guys think it will bottom out? im aiming for 750

it already hit bottom There is no going back under 1500

there was literally no candle though? just a horizontal line

but what do you mean "full"? perhaps I'm misunderstanding

ill keep my eye on it. seems BTC is running again. probably wont go up just yet. might create epic dip

bought the dip, comfy as fuck

No dumb dumb.

So one of RCN's features is to work with local legal systems to seize your assets or have debt collectors hunt you down

The cosigner function of the coin allows lenders to pay a little extra % upfront to insure their loans from poor shits who dont try to pay their loans.

>insert tiny brain wojak

Same. Cheap, comfy coins all day please.