Partnerships: Everything we could say here would go against “underpromise & overdeliver”...

Only 8 AM on the East Coast.

This. Ultimately patience will pay off. It's hard watching junk moon, but it feels good after they consolidate because it was baseless hype. Reqs comfy af

There's going to be at least a dozen threads about this today. Linkies are going to shit themselves when they get the the question about the oracle in the AMA.

>And the burning starts

And how much gets burned exactly Everytime someone uses req? The $ value of the transaction fee in REQ?How much is a typical transaction fee?

how long will the audit take?
if the code's done main net should be released really soon

Every single time req processes anything or is used. Every. Single. Time. It burns req. The FOMO later this year will be huge

Partnership with ING confirmed.

oh wait...

ING actually got sued by the Dutch government due to them dealing with Request Network as it wasn't legal at the time.

They literally had to end the deal because dutch parliamentary asked them to stop. It even became a national scandal. I'm not kidding.

As far as I know they are still "partnered" as in ING still holds a portion of REQ tokens but they can't officially be affiliated with REQ anymore due to Dutch law.

Here's a dutch article about it

ftm.nl/artikelen/ing-tether-miljardenfraude-cryptomunten?share=1 .

It has nothing to do with REQ itself. As soon as the law changes (won't be within the next year at least) ING will affiliate itself with REQ again.

bs

the article is about tether/finex and their ties to ing.

Sell your shitty REQ bags and buy LINK.

LINK's oracles have to be adopted before REQ will moon.

Are you people fucking brainlets?

It is but IGN stopped all their official involvement with crypto projects after their involvement became a scandal. It's still a legal grey area so they decided to just rescind all official affiliation with EVERY crypto-related company.

Okay, that wasn't obvious from your posting above - that's what I thought already. Pretty sure the Request foundation is still tied to ING more than they insist rn.

Fucking dutchcucks. I hate you.

...

And what happens when all the Req Tokens get burned?

moon

/Sighhhhhhhh not entertaining this one

Not this shit again..

I'm not trying to FUD here, I'm a brainlet/newfag in Req and I was asking it for real. I mean, if 1 Req Token get burned at every transaction, and assumin Req is implemented and widely used. 1 billion transactions would be a goal easy to reach. What would happen afterwards?

The amount of REQ that gets burned is based upon the $ value. If the fee would be $0.30 then 1 REQ would be burned.

As fewer and fewer REQ remain the price per req would increase. So $0.30 would be 0.5 REQ and then 0.1 REQ all the way until $0.30 is 0.000000000000000000001 REQ sometime in 2218 or something.

The fee gets calculated in $ and then the amount of REQ that represents that $ value gets burned. Might be 5 REQ might be 0.000001 REQ.

Hope you understand. It's a main fudding point and general shitpost target so people hate talking about it.

I appreciate your post. It sounds actually pretty good. Buying 5k right now.

They say in the AMA they want a "fee cap".
What does this mean for price? Does it have an effect?

>Which oracle/s are you considering? Would be decentralized oracles?

>We are talking with Chainlink.

It's over. Veeky Forumsneets won.

They want a fee cap so that things like ICO funding through Request Network (You can now fund ICO with every crypto and fiat) and crowdfunding (Patreon/kickstarter).

The reason they want a cap on those is so that it can compete and still have a low total fee for high amounts of money being sent over Request Network so that non-profits will start using Request Network.

How I'm reading it it means that the fee for Request Network will be very low in the short term to make as much businesses adopt is as possible and then in the medium to long term future they will slowly raise fees while still being the cheapest option on the market to force a monopoly on the market. (Which the government can't shut down since Request Network is technically a non-profit so it doesn't fall under anti-trust laws)

So does fee actually mean price? Sorry, I'm a bit confused. Didn't get any sleep last night.

And, another question. If only non-circulating token supply is burned, how does that increase value? Isn't it only circulating supply that would affect price/Mcap? Or do they actually burn circulating tokens?

Depends on the situation.

In the yellowpaper they actually explain in detail how this works.

This is the TL:DR version:
>If you are paying with REQ then they will just grab a small % of your REQ and burn that as the fee directly without using any other REQ tokens
>If you are paying with anything other than REQ and don't provide the REQ to be burned yourself (or the company that you are paying to doesn't provide it) then it will be bought out of one of the decentralized exchanges such as Kyber, 0x and others in real time
>If in some extreme situation all the decentralized exchanges are down for some reason the REQ team will have an emergency fund of REQ tokens to be burned and will be bought at market. This is only a backup source of REQ tokens to be burned and not meant to actually be burned.

So yeah overal it will burn the tokens that are actually in circulation. Either by reducing the supply of users and businesses or reducing the supply on exchanges.

You are making it sound like it is burning peoples personal stashes ...which it isn't. It's burning REQ that isn't bought up or that is put away somewhere. Anyone personal stashes is untouched. Thus the price increase. If you have 5000 REQ and all other req in circulation all of a sudden starts disappearing your stash is now 100x more valuable

i laughed a little when i saw that.

Oh, that sounds... strange.
I mean I guess you maintain the value of your REQ anyways since the price will adjust with the supply. But all of those use cases are a bit unsettling.

Unpurchased or put away differs from personal stashes how? If it is unpurchased does it count as circulating supply?

Yeah you could have read it wrong. But this is actually specified in their yellowpaper.

You are given basically four options:
>You pay with REQ tokens and the fee gets burned out of your own tokens
>You pay with any currency you want and give some REQ yourself to get burned
>You pay with any currency you want and the company you buy it at supplies the REQ to be burned
>Both you and the company don't own REQ or don't want to give up their REQ so the REQ gets bought in real-time from decentralized exchanges such as Kyber and 0x.

My previous post could be read like it's involuntary but this isn't the case. You can choose what to do.

However some businesses might choose to burn their own REQ supply so that they can buy large amounts of REQ while it's still cheap to save on fees in the long term.

>How did the project come into existence? Was it part of a larger project which grew legs or did someone on the team gather all of the other members.

>We started to understand how banks were controlling the entire financial flow
REQ is now officially a 14/88 rated hold, I hope you're in.
Crypto was always about killing off the Jew.

coinmarketcap.com/currencies/request-network/

The circulating supply (641m) is what every person/company/investor currently owns. This includes YC and ING and all whales.

The remaining ~259 million is still owned by the Request Foundation. They will use those REQ to fund developers/marketing campaigns etc in the future.

The buning will 100% come from the 641 million circulating supply. Either from your stash (if you choose this) from the company where you are buying (if they choose this) or otherwise it'll be bought from decentralized exchanges such as kyber and 0x driving up the price of REQ.

Either way with every single token burned the market cap increases. as the total supply gets down while the price per REQ stays the same or increases.

The Reason I'm specifying this is because I will add an "Pay with Request Network" button to my personal commission website and I want to burn the fees with my current REQ stack. This is why I specified the option to do so. As it gives economic incentives for small and medium businesses to already buy REQ now for future fees as you'd save money that way.

Fee is the % of their cut

Huh, okay I get it now.
It's a difficult sell, but sensible.
You guys are really helpful.
Now I'm gonna sleep in my best "I'm totally working boss" pose.

Thumb sucking with a teddy?

REQ will moon first due to competent investor communication

I'm buying back in after dumping at $1.
So are a lot of my whale friends at ReQkings.
Join us so you know when to buy and to sell.
Use this discord code : FXfJqwW
ReQkings has multiple members that have/had over a million REQ.

More tokens will be printed.

>Their cut

Request Network is a non-profit and don't actually generate a profit 100% of the fee will be used to burn REQ tokens so that every holder of REQ benefits the same from the burning of the tokens.

This is done so that Request Network can legally hold a monopoly and undercut competition. Non-profits are exempt from Anti-trust laws so the government can't break them up when they form monopolies.

This is the true value of Request Network. Normal companies can't compete with them because Request Network can undercut their fees. And the government can't call it a monopoly because it's a non-profit organization making it a legal monopoly.

Request Network will be the Comcast of financial systems and it'll be global instead of just a US monopoly. It's a long-term hold.

so what you're saying is buy link

No one says that Ranjeet, you got that wrong. Go back to that english learning app.

He needed it watered down

u mad?

Nah you just have to do your best to look like you have a headache, gives you an excuse to close your eyes at your desk and brace your head against your hand.
Anyone talks to you, just say "oh man I've got a splitting headache today, doing my best though".
If you ever need to goof off even harder, feign explosive diarrhea. No-one will question you. Nobody wants to verify that story.

Thats wrong again Ranjeet. Nothing in my posting points to me being mad. You really need to step up your english game little curryboy.

50 ETH buy incoming. Fuck you all

today I dreamt I was hitler
not even joking
wtf Veeky Forums

Ask yourself why with this really positive news there's so much negativity surrounding the price and token.

A blatant example of FUDing a project to shake out idiots that don't dyor and drive the price lower to accumulate. Seriously if something seems to be a good thing but Veeky Forums is seething about it then it's probably a decent hold. We should see a lot more action on this and other projects end of month/april

they didn't announce a partnership with Amazon, Google, and NASA so it's shit news TO BE HONEST

I'm done accumulating LINK (100k unironically)... gonna throw $500 at REQ js for the lulz

My Req-y gives head like Becky $1000 eoy

Shaking out is a meme, I sincerely hope you realize that.

Wow another shit update from this shitcoin. When fucking main net? I'm dumping i bought this shit sub ICO this project is too gay and french that won't even give off a scent if hype

Holy shit, you’re a retard! ‘Mainnet in Q1’. Q1 ends end of March, you faggot.

Are you really dumping before mainnet you fucking LARPer?

I have 10k XLM and 4K REQ, thinking of swapping that ratio

30k REQ and i'm sick of this anti hype SHITCOIN.

Just FYI to the noobs: If you hold this coin post Main Net you will get beyond reqt- sub ICO once again screen cap this. Look at Kyber for an example of what your main net will do. This coin has zero hype.

isn't kyber an exchange platform? how is that even an equivalence?

I'm totally ready to get reqt at this point don't even give a fuck desu

Me neither I'm all in. I'm confident

Holy shit. That's it. 100% making it. Prophecy

Checked

Checked

Holy fuck this.
I would be throwing huge amounts of money at link if there wasn't complete radio silence.

I dont like that about Link either

I love it. Shill when shits done

Sergey kinda scares me. Two man team and one laptop. I also have concern for his Mcdonalds addiction. Creepy and wierd.

That is creepy.....and weird

Yeah fuck it this is looking to good. I have .5BTC as part of my portfolio and I think I'm just going to buy it all in REQ. I have about 13k REQ now.