explain why this token is necessary? I am buying after mainnet regardless but would like to know more. I understand REQ is burned as transactions take place but how is this sustainable?
Here is some basic research i have done thus far so i bring something to the table. >req will revolutionize accounting by bringing digital invoices that are secured and recorded into the blockchain -this market is big bc auditing expense cost is a huge overhead although i believe the irs like taking this money? >req changes the accounting world this would benefit govt bc it would be easier to track taxes and impossible to cook books -this appeals to governments and will help them get the money they feel so obligated to take but also beneficial to req >charities could be completely transparent -people will finally know that they arent donating money to pedos and sex trafficking causes >requests ledger -will make the user experience friendly enough for the masses to accept >automatic currency conversion -this is one of the main attributes that made me recognize the potential here. this means global across borders literally can not even put a market size on this but big as amazon could easily implement this.
bonus question: how much req do you have versus how much do you think you actually need in order to "make it"
I will explain but I'm eating now, I'll write a post in 10 mins
sound good this meme is funny
Dude, Now that you mention it, I just finished school and I want to know if the accounting career will disappear or just evolve it.
The token is the fuel to use the network. When you make a transaction, the platform buys request at a market rate over the Kyber Network to use it as fee. Then, it gets burned. You cannot use the platform without buying REQ tokens, but this process is transparent to the user. Someone correct me if I'm wrong.
>how much req do you have versus how much do you think you actually need in order to "make it" That depends on where you live and your aspirations. I think 50k is enough to make yourself a millionaire, implying you will have iron hands to not sell any.
In my case, I live in a poor country and I own 2k. With $5-10 a piece, I would be in a pretty great spot.
Accounting careers like you are being thought now will 100% be removed from existence. The people that will replace accountants will not have any accountant knowledge instead they'd be blockchain techs. Just like the people that will replace truckers and general transport industry people won't be other type of drivers but technicians.
Honestly depending on where you lived this information has been widespread. I went to university 10 years ago and even then people were warning that accounting/auditing industry would not exist in the long term. It's not like this development is sudden or something.
So basically tokens are all about incentives. To have any sort of decentralised platform or blockchain you need incentives. You need incentives to build it, you need incentives to develop on top of it.
This is why Ethereum needs a token, nobody would confirm transactions unless they were rewarded for it in the form of ETH. Same for REQ, the team would have no incentive to build a decentralised platform if there was no way to make money from it. The community would not develop Dapps on top of the Request platform unless they would receive the REQ fees from transactions on the dapp. It also acts as a form of crowdfunding in the form of ICOs. There is no such thing as real decentralisation without a paired token. Pretty simple really
im not sure. my cousins husband is an accountant and he doesnt even know req exists when i asked him about it. but being able to streamline all invoices and expenses from a business perspective would be a massive overhead cost that is lifted so i could see businesses wanting this.
accounting is expensive even for small businesses it can be 20k a year for a really good accountant. this is basically because you need to separate assets for legal purposes and have multiple corporations to protect against potential lawsuits. this is all fine but it brings a ton of paperwork with it which is really costly
so if tokens are always getting burned, what stops them from eventually running out
>my cousins husband is an accountant and he doesnt even know req exists when i asked him about it Lol I know software devs who don't even know what blockchain is dude. We are VERY early and expecting someone in a field that blockchain can disrupt to know about a specific project is highly highly unlikely.
POS generating new tokens, I would imagine? Not 100% sure as I havent read a ton about REQ
You're still gonna need accountants to double check the blockchain ledger as a liability deterrent
Not this again... Well. REQ tokens are divisible. They have 18 decimals.
You see 0.5 ETH or 0.1 BTC having quite the value. If enough tokens get burned, their demand will rise alongside the price and less tokens will be burned.
Say in august 2018 a $1k transaction burns 2 REQ.
Then in march 2019 the same transaction is burning 0.0003 REQ.
It would take centuries. Probably thousands of years for this to be a problem.
How do you function
You are paying a fee in USD that gets converted to REQ. So lets say the fee is 1$.
That $1 would be used to burn 5 REQ now. If enough REQ gets bought and burned the price will slowly rise due to basic supply&demand
So now the $1 fee would be used to burn 1 REQ. while the total supply of tokens is only 500,000,000
Eventually in 2020 $1 fee would be used to burn 0.01 REQ while the total supply is 100,000,000
In 2563 $1 fee would be used to burn 0.0000000000000000000000000000001 REQ while the total supply is 0.00001 REQ
Do you understand? REQ will never run out. They will just burn smaller and smaller fractions of REQ while the total supply shrinks and the amount of $ value per 1 REQ rises due to supply&demand.
Damn I should refresh the thread before posting in the future.
>what is floating arithmetic and computer architecture
>What is 500 years of computer science advances.
Look at the year user.
>oh we'll sort it out later guys!
the absolute state of shitcoins. the reality is that they knew they won't last more than a year and they'll exit scam before this ever becomes close to an issue
REQ's platform will auto-buy from open exchanges such as Horizon State's platform does?
VEN is in fact a scam, like most Chinese shitcoins, including NEO. Just because they're heavily traded doesn't mean shit. Crypto investors are retards.
VeChain has partnered with PwC China. Actually, VeChain is using their services and not the other way around.
Request has partnered with PwC France, which is their main branch in blockchain research and they will be working in developing products over the Request Network.
Hopefully accounting user will be around to say this in more technical words.
>Hopefully accounting user will be around to say this in more technical words. aka >i have no idea what i'm doing and i'm only throwing money based on what redditors told me on the internet typical crypto shitters
Lol that gave me a laugh.
I'm getting some nice digits btw
>he's bashing crypto shitters >on Veeky Forums why are you here?
VEN is "partnered" with PwC the same way they were "partnered" with BMW.
Basically, they're using their api or some shit and claiming to have a deal which is laughable.
Protip: never invest in Chinese shit unless you've been to China and know first-hand what business ethics in China really look like.
This makes more sense. I was also reading about the gateways that act as middleman API's, which wouldn't Link also help here? The fact that the end users don't have to store req or purchase it to use the platform is a huge advantage. I've come to the conclusion that not buying this is almost like betting on crypto to fail which I don't believe it will or I'm invested so my bias doesn't want it t. This isn't just some "payment platform".
crypto shitters = alt "investors"
also what happened to that oxford partnership lmao. last time i heard about it was when oxford told them to take down the announcement. fucking retards
This user is completely right. NEVER trust a Chinese businessman
'This incubation programme will help VeChain to accelerate their development, by providing the company with access to the Hong Kong and South East Asia markets and strategic advice leveraging on PwC extensive global network.'
I love the VEN fud. But no, these Veeky Forumstards know better than Jim Breyer.
not true brainlet. the BMW fud you see on here all the time is a photoshop edit. it was carVertical that claimed a phony partnership with bmw and biztards shopped VEN into the clarification tweet. next.
been to china. can not comment on the business ethics but every price is negotiable and it doesnt matter what the price tag says they will always take less
>incubation program because they have no idea how to run a business >literally 0 known companies came out of PwC China "incubation" program >pwc desperate to get some blockchain action because pressure from stakeholders >jim breyer, like every VC in any bubble, invests in things he doesn't understand like they did with the internet >brainwashet venlets who sunk all their money to get a master node bs struggle to fight the cognitive dissonance this is like TRX all over again, but you can only see it from the outside
This is where you're wrong buddy. PwC announced it on their end. Vechain was hype shit. There are so many fake "partnerships", chinks and pajeets that REQ went completely under the radar with this announcement, which is actually one of the biggest in crypto ever.
I literally bought TWO THOUSAND req when the news hit. TWO THOUSAND!!!
How long will it take for my coins to get completely burned if I leave them at the exchange?
3 hours, starting NOW
>user doesn't even know the truth about the ven + bmw scam google user
Fuck!! I have to find my ledger fast!
So my incredibly knowledgeable and intelligent friend, what is in your portfolio?
btc and xmr of course
>I love the VEN fud. But no, these Veeky Forumstards know better than Jim Breyer.
Can you cocksuckers please stop with the halo effects you dumb cucks
So what are you doing in a REQ thread? I have never once entered a thread about any other coin I am not interested in/think is a scam This whole space is a gamble, if the biggest enterprise players in the world such as PwC, DNV GL, and billionaire VCs such as Tim Draper and Jim Breyer think Vechain is a good bet, that's good enough for me. What are you betting on? Bitcoin becoming a world currency? Digital gold? topkek
>So what are you doing in a REQ thread? laughing at brainlet alt fags? never gets old
Yeah let's bet on bitcoin becoming LE ONE WORLD CURRENCY. Better chance than enterprise adopting some blockchain startups right?
>billionaire VCs such as Tim Draper lmao Tim Draper thought bancor was a good bet too.
Your main point about currency conversion is moot. XLM already has that handled and is on the cusp on having central bank digital currency.Never mind being backed by the largest manufacturer of ATMs internationally, IBM. REQ is another SHITCOIN.
Then the accountants will just move the controls so that anyone can do that..... maybe the race will go on for a few years and I'm in time to look for alternatives to study. What career would you recommend related to the financial context?
time will tell. im not going to sit here and try to prove my point im through some k's at and we'll see what happens. you could be right or very wrong...time itself will decide.
Nobody understands what the fuck XLM does. I understand the ins and outs of REQ. Do you know what a federated byzantine agreement is? No? Then you don't understand XLM and you can't be as sure about your investment as I am about REQ. Which is NOT certain but I am confident. Which I couldn't be holding XLM because it's very confusing, it would be like a gamble
Also this post may sound retarded, but you should never invest in something you don't understand. I have tried to learn about XLM but I genuinely can't grasp it, too much jargon.
You can't grasp googling answers to things you don't know? You deserve to lose your money in scams then.
What is a quorom slice? oh you don't know because IT'S LITERALLY NOT ANYWHERE I know for a fact you don't know how xlm works.
REAL WORLD POTENTIAL MCAP OF $30B-$60B. WHEN ALL REQ ARE IN THE MARKETPLACE, WE GET A $30-60/TOKEN VALUATION.
AS REQ ARE BURNED, VALUE WILL INCREASE PER TOKEN. IN YOUR LIFETIME, $100/REQ POSSIBLE.
I thought it would be an instant 100$ antshare vibe stuff.