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7383555 No.7383555 [Reply] [Original]

QUESTION ABOUT REQ

if you buy something for $100 with XYZ from someone who only accepts USD... where does the XYZ go? like whose wallet does it appear in when it leaves yours?

>> No.7383594

DONT ASK THESE QUESTIONS PLS

>> No.7383617

>>7383594
>>7383555
it gets automatically sold at an exchange for its USD value.

>> No.7383625

>>7383555
Request will be working with Kyber so I don't think liquidity will be an issue, it will be exchanged in real time.

>> No.7383639
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7383639

>>7383555

The same place your USD goes when you convert to a foreign frequency... Whoever is buying the USD from you via the Kyber exchange..

A small fraction of REQ token will be consumed in the transaction.

>> No.7383692

>>7383555
The company using the REQ network system to make those money exchanges and trade operations.

You are mistaking what REQ as a company does. They provide the infrastructure in which other companies will work.

That being said holding Request is a risky investment because while it might appreciate due the burning mechanism, your tokens could been randomly selected to be burned.

>> No.7383705

Who's gonna buy my bitbeans

>> No.7383768

>>7383692
>That being said holding Request is a risky investment because while it might appreciate due the burning mechanism, your tokens could been randomly selected to be burned.

You idiot, that was a cheeky copypasta FUD, not an actual danger.

>> No.7383864

>>7383625

so if you wait to long to "purchase" then it's going to say "error: exchange rate changed" or something?

what if there's not enough volume on the crypto you're trying to sell?

will there be limit orders for buying things or does it have to be instant?

>> No.7383909

>>7383768
No, pretty sure its explained in the whitepaper. DId you read it?

>> No.7383972

>>7383555
It goes to a decentralized exchange (in the case of REQ, Kyber).

>> No.7384038
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7384038

>>7383909

OBVIOUSLY, these tokens would have to be on an active network, so companies will buy REQ and pool them for burning transactions.

If you keep your REQ on an exchange or privately on a wallet, how do you expect the network to seek out and find your REQ tokens?

Jesus, are all of you normies this retarded?

No wonder you morons bought Bitcoin at $20K and things like Tron and XRB.

>> No.7384045

>>7383972

so it'll go XYZ > ETH > CASH > SELLER ? or will Kyber sell everything for USD?

>> No.7384089
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7384089

>>7383768

>your tokens could been randomly selected to be burned

Kek, are you disabled?

>> No.7384150

Oops >>7384089 meant for >>7383692

>> No.7384165

>>7383594
>Kyber and potentially more decentralized exchanges
>he believes the meme fud
>he doesn't buy atleast SOME req

>> No.7384450

>>7383972

i dont see anything on the kyber network about exchanging things for USD....

>> No.7384504

>>7384450

>He doesn't know the basics about Kyber

Anon, you should at least know SOMETHING before you start shitposting here. Go read up on Kyber and what it does.

>> No.7384538
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7384538

>Why should I use this nerdy app created by cryptopedos with weird numbers and letters? I just want to use your credit card Chad, this is too difficult.

>> No.7384549

>>7384504

meh, i'm not the smartest dude, i get it. i just don't see where the USD part comes from.

>> No.7384585

>>7384549

Kyber interfaces with exchanges which list USD/Crypto currency pairs and automatically does the conversion with a small fee.

>> No.7384596

>>7384549
Fucking kyber holy shit read you stupid nigger at least try

>> No.7384625

>>7383768
>>7384089
You need to give them your private keys to use the request network and once you hit 0 REQ you start owning negative REQ.

>> No.7384654

>>7384549

It's the same way your bank does it when you want to go abroad, to say Mexico.

You go and exchange your US dollars at the bank, and receive a certain amount of Pesos. The bank does the work in the background, buying and selling from the forex markets. Kyber is the bank.

>> No.7384700

>>7384625

I like this. Please develop this into a good FUD pasta, like the Stacie mocha soy roastie latte from Starbucks.

>> No.7384709

>>7384585
>>7384596

>with a small fee.

so you'll be paying sales tax, capital gains tax, and a fee from Kyber?

not even shitposting, just trying to understand.

so it'll go XYZ > ETH/BTC > CASH > SELLER?

>> No.7384788
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7384788

>>7384625

Recommend making up testimonies from fictitious REQ holders, whose tokens got burned and they fell on hard times, like:

"I bought 20,000 REQ at ICO, and since the token burning went live, I'm in the negative, -5000 REQ. I was forced to move back in with my Black gf, and he son is physically intimidating".

>> No.7385754

>>7384709
There are always fees for electronic payments, it's just that most merchants hide it in the price. Ideally, Request network will have lower fees than credit card companies, even with the kyber fee added, which will make it a more attractive option for digital payments than credit cards.
Capital gains tax varies from country to country, some will have to pay, others don't. People living in the US will have to pay, though there are a few in congress who are pushing to make spending gains-tax free below a certain amount.