Ok can we have a serious conversation about REQ?
I'm confused about the token burning, every time a transaction is sent it burns tokens, right? Is it a percentage? Measured in whatever currency you are sending? What happens if the token goes up a lot, do fees increase?
Ok can we have a serious conversation about REQ?
Token burn cost adjusts according to token supply. Read the white paper.
The percentage that will burn is between 0.05 and 0.5% of the transaction. Based on the size/type of transaction being made.
If you have any more questions feel free to ask. I've read literally everything about REQ and even contributed a little in the back-end.
What is a good estimate for when can I use REQ network to invoice people for USD at my business? Really excited about REQ becoming mainstream and I would like to contribute to it's adoption.
Can you unironically send me an email jagx33 at g mail need to ask you some REQ questions
Ask on here maybe others are curious about what you are curious about
REQ is currently working at adding ERC20 tokens and Bitcoin support. Fiat is after that.
I'd say Q2-Q3 2018 at the current pace they are making. BUT they are offering commissioning and funding to everyone that codes a prototype so if anyone in the thread wants to contribute or think they can pull it off earlier than them send them an email and you might make some money off of it.
But to answer your question about usability in a store. The point of Request Network is that you can demand payment in whatever you want (for example USD). And the payer can pay in whatever they want (crypto,erc20,other fiat) and through 0x and kyber they will get exchanged in real time with the lowest fees possible (an order of magnitude lower than the exchange rates of credit cards).
This shit will save you a lot of money in the future if you have a business and need to use creditcard/paypal middle-men right now. If you already buy the REQ tokens right now you might minimize transaction-cost for a very long term.
I know the answer, but is REQ better than Ripple for customers and/or businesses? Yes/no is enough, unless you'd like to go into details.
And realistically, what is your price prediction for this one at the eoy 2018?
Short answer, Yes.
Long answer:
REQ wants to be THE payment option of the future. They believe that in the future everyone will hold lots of different crypto/tokens/fiat and they want to make sure that you can pay with whatever you want and the receiver can get whatever they want.
With ripple you are limited to ripple crypto. With REQ it doesn't matter what you use as payment. Thus REQ is future proof and literally designed from the ground up to last for centuries (not exaggerating). One of the ways they try to accomplish this is by making the fees as low as possible. Meaning that it will discourage competition from popping up that will try to accomplish the same thing as REQ is doing now. If they succeed they will become a long-term monopoly on online transactions.
Request Network is non-profit since 100% of the transaction fee will go to burning tokens (The Request Network company only gets profit from rising price of REQ tokens they are holding).
It's literally impossible for other companies to compete with them since REQ has 0 profit margin.
Speculation is incredibly hard especially in an irrational bubble market as these. It's a long term hold but I think if you look at 2 years from now that holding REQ would have given you the most profit out of all crypto.