Questions for REQ holders

I’m very, very fucking close to being sold on this coin, but I have a few questions.

1. Will the Request Network be a platform on which people can develop apps? If so, what makes the Request Network superior to other dApp platforms?

2. What will the developers actually launch when they launch the platform? A website/app where you can do what exactly, exchange any coin for Bitcoin?

3. What does REQ provide that other services like Venmo don’t to the average person not interested in cryptocurrency? Venmo is feeless but takes a while to send as I understand it, but the long transfer time is because you’re moving fiat, correct? Does REQ have any mechanism to speed this up (such as the Jibrelionites or OmiseGoians are proposing)?

4. The incentive to hold the REQ token after the platform is in place is that it will increase in value due to a shrinking supply of the token. However, if all the token does is provides fuel for the network, why would anyone who doesn’t currently have it want it? And if nobody wants it, why would anyone hold it in the first place? And even if we assume it will be in demand, what if other tokens are rising faster in value than the REQ token, what incentive will there be to hold it then?

6. Fiat portals seemingly require a lot of compliance with governments, has the REQ team discussed how this is going? Will REQ even be a fiat portal in the sense that Coinbase, Gemini, and likely FairX will be?

7. Why do I get the sense that the token Ismaili rather...creepy?

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I'm feeling lazy but I'll briefly answer your questions:

1.) Yeah it's a platform for payment dapps. Technically businesses could make their own payment dapp on Ethereum, but the infrastructure on REQ is already there, and caters itself towards any dapp that wants to utilize the ability to use any crypto that users would like to pay with for their dapp. Correct me if I'm wrong, but Ethereum dapps need to natively take ETH as input, right? Using REQ's platform, dapps built on it can take any.

2.) Mainnet release includes the Pay with Request button and the ability to pay for things using ETH and any ERC20 token, with instant transfers using Kyber. Meaning, if you want to pay for something in ETH but the person would prefer to take OMG, no problem. Just pay with ETH, the person sends the request to receive whatever you pay with in OMG, and KNC does that conversion in the backend.

REQ will immediately be usable by merchants for this reason.

3.) REQ is using the ETH platform for now, but this means that it will also absorb all of its upgrades, including Casper and Plasma when they release. For someone not interested in crypto, they'll wait until Q2 when fiat-crypto and fiat-fiat transfers are working. You'll be able to pay for something in Yen, and have that auto convert to Dollars for example.

That, and it's more than a payments app, it's also getting built for business auditing and shit like that. Remember, payments is just the base part that'll be up and running and getting focused on first. Other companies could also make their own dapps on it.

4.) It took me a while to understand this, but someone spelled it out simply for me: what's the difference between someone buying and holding, or the DEX doing the purchase automatically for you in the backend? The more the network gets used, the more people "buy" the token. The bought tokens get burned. When a transaction goes through, KNC is LITERALLY MARKET BUYING it to get burned. tbc......

4 cont.) There is no "repository" of tokens that get burned. To pay for the transaction fee, REQ auto gets bought at the current market rate thanks to Kyber, and destroy's it. This is actually better than ETH, because you'll end up having people that don't even know the token exists, causing buys to happen. The price can only go up the more popular the network gets because of this.

6.) People get this confused, but REQ is not going to be a fiat portal in the sense that you sell your tokens to them. Think of it more like Localbitcoins. It's going to be a P2P conversion network, so imagine that you set up a trade with someone--you're planning to sell 500,000 FUN, and you advertise you want to do so at the current market rate. The person that takes it will send you a request, and you'll both complete the transaction, with the fiat going right to a linked bank account, or something like that I'd imagine.

That's still in the works for Q2, so we'll get more specific info about how this will work, but I love this, because you'll essentially get a decentralized anonymous way to cash out without having to meet someone in person.

Thank you!

for being "very, very fucking close to being sold on this coin" you dont know very much about it lmao

I'll buy in at 2 cents

This
>People get this confused, but REQ is not going to be a fiat portal in the sense that you sell your tokens to them. Think of it more like Localbitcoins. It's going to be a P2P conversion network, so imagine that you set up a trade with someone--you're planning to sell 500,000 FUN, and you advertise you want to do so at the current market rate. The person that takes it will send you a request, and you'll both complete the transaction, with the fiat going right to a linked bank account

>Fiat to Fiat

This coin will 100% be $1000 end of 2019

>This coin will 100% be $1000 end of 2019

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Should I cap this for you to view in 2019?
$100 EoY

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You dropped your trips though sir.