Hi, I found a coin that not many people talk about here so I would like to get some thoughts. It's getting more exposure on 4chan but there has been maybe 2 threads about it here. Since the price increased of 30% today I felt that I should give some more information. This is a copy and paste of some information that is circulated around 4chan about this coin.
Market cap= 67 Million. What problem it solves: A global peer-to-peer credit network based on co-signed smart contracts. With RCN you aren't limited to just borrowing crypto (btc,eth etc) you can borrow any currency in the world. (USD,CAD,YEN) The RCN team has over 15 developers and genius advisors such as Sergio Lerner the cofounder of rootstock. Key investors= Bilionaire Tim Draper; The guy that found skype in 2005 and sold his share for 1 billion USD recently, the guy that bought 30,000 bitcoin from the us goverment during the silk road closure. Bilioniare Lu Guanqiu ceo of the company Fenbushi Capital;Once called “China’s Elon Musk” for buying out an American hybrid-electric car company, Lu Guanqiu is the founder of Wanxiang Group, one of China’s largest automotive parts manufacturers. ^ These guys do not fuck around google there history. This coin was added on bittrex A WEEK AFTER being released. Name one coin recently that was added to bitterx instnatly? This coin is serious... do you think these billionaires would invest in this coin if it wasn't going to literally 50x? Follow the smart money /biz/ It literally is around ICO price.
The ICO pre-sale had NO BONUSES. Do some googling please. But even if there were, what does Tim Draper have to gain from making 10% on 10 Million? When you're in the billions you're only concerned with making 100s of millions. Thats why they invest in ICO and HOLD. Maybe he'll dump some when its 3-400M market cap, probably not till its nearing a billion (est. Q1 2019) or more. In developing countries such as in South America, it has been reported that up to 65% of the population are Unbanked and may have no access to Credit Facilities through traditional banking. Ripio intends to solve these problem by providing these users with an alternative Credit Facility. The Ripio Credit Network works to connect borrowers, lenders, and other network agents all over the world, allowing each one of them to manage the credit in their local currencies, as long as they have Internet access.
In developing countries such as in South America, it has been reported that up to 65% of the population are Unbanked and may have no access to Credit Facilities through traditional banking. Ripio intends to solve these problem by providing these users with an alternative Credit Facility. The Ripio Credit Network works to connect borrowers, lenders, and other network agents all over the world, allowing each one of them to manage the credit in their local currencies, as long as they have Internet access.
How does it work?
The Network will consist of a Borrower, Lender, Wallet Provider, and Credit Exchange. All of which will be connected through a Smart Contract. The flow of money is as below:
Borrower <- Wallet Provider <- Smart Contract <- Credit Exchange <- Lender
Let’s say Juan in Argentina wants to borrow $5,000. Lin, who is halfway around the world in Shanghai is willing to loan him the $5,000 + 10% Interest.
Once the terms are agreed, Lin sends the money through the Credit Exchange in Fiat. The Credit Exchange uses that Fiat to purchase RCN Tokens to send it over to Juan’s Wallet Provider through a Smart Contract. Juan receives the RCN Tokens and converts it back to Fiat.
When it is time to repay the loan, Juan returns $5,500 through the same Channel, by using RCN Tokens as a medium. The borrower receives Fiat after converting the RCN Tokens.
All loans work on a Fiat basis between borrower and lender, by simply using RCN Tokens as a medium of exchange.
What does this mean and how can we benefit from it? There are 2 main ways to benefit from the Ripio Credit Network ecosystem:
If you are a lender, you can lend in Fiat and earn interest in Fiat.
If you are a RCN token holder, you will become a liquidity provider to facilitate the P2P loans, and earn through the increase in value of RCN Tokens.
What value does the RCN token holders have and why should the price increase?
All RCN token holders will become liquidity providers. For any loan to go through, RCN tokens will need to be purchased from the Market to facilitate the transfers. The higher the number of transactions, the higher the demand for RCN, and thus the higher the Price of RCN tokens.
• The ONLY source of RCN Tokens at the moment are held by the public, as the Company’s tokens are locked for 1 year.
• Ripio has an actual working product with 100k users, all 100k of whom will be migrated to the RCN Exchange next week! - http://rcn.exchange/
• Ripio themselves will be the first big lender, which means that they will go to the market and acquire the RCN tokens, generating demand.
• As new credit exchanges and lenders join to the network there will be even more demand for the RCN token.
• Top A-grade institutional investor such as Pantera Capital, Fenbushi (Vitalik Buterin's Fund), Tim Draper, Digital Currency Group, Medici Ventures, Huiyin Blockchain Ventures has invested in the company
What exchanges have listed RCN?
• Bittrex (despite extremely strict with listing recently) • Binance • Huobi Pro • More to follow..
My personal opinion:
Being from a developing country myself, it is easy to underestimate the number of Unbanked people who have no access to Credit Facilities. Like it or not, Credit is an essential part of expansion and development in an Economy.
As for the Company, what makes Ripio stand out is the creation of a true Utility for their token, whereby all parties in the ecosystem are incentivized to use it and will benefit from it’s increase in Price.
As Vitalik Buterin would say, the Crypto-Economics of their Model is spot on.
This is my personal opinion. As always, do your own research and feel free to leave any comments or questions.
• RCN Tokens are used as “gas” to facilitate P2P loans
• RCN Tokens have to be bought from the open market
• Ripio themselves will act as lenders and purchase RCN Tokens from market
• RCN Exchange launching next week. 100k users migrating
• The higher the number of transactions, the higher the demand, the higher the price of RCN Tokens For an in-depth review, you can read their whitepaper, which is available at https://ripiocredit.network/
The market for alternate finance gained popularity in recent years. A finding by Transparency Market Research suggests that “the opportunity in the global peer-to-peer market will be worth $897.85 billion by the year 2024, from $26.16 billion in 2015. The market is anticipated to rise at a whopping CAGR [Compound Annual Growth Rate] of 48.2% between 2016 and 2024.”
While Research and Markets estimates the global P2P lending market to grow at a CAGR of 53.06% during the five year period between 2016 and 2020. Morgan Stanley in a report in 2015 predicted that such marketplace lending would command $150 billion to $490 billion globally by 2020. http://www.nasdaq.com/article/the-rise-of-peertopeer-p2p-lending-cm685513
Ripio's value is not based on a coin gimmick, the tech behind RCN is nothing special. Ripio's value comes from the fact that it has proven people going into an industry that is sure to rise and they will start making money in the near future, not 2-3 years from now, but NEXT year. By april their roadmap will be complete.
So, what do you guys think?
Binance, the largest online cryptocurrency exchange platform, has partnered with ALPHA to giveaway $3,000 of their native token via lottery numbers. Binance, the worlds largest online cryptocurrency exchange, has partnered with Alpha Finance Labs to give away $3,000 worth of ALPHA during their token sale taking place on Binance Launchpad. All ... Binance Pool is a mining pool under the Binance ecosystem. Currently it only mines Bitcoin but more tokens are expected to be added later. Learn more about Binance Pool. Binance Pool is operating on 0% fees until 31st May 2020 to bring in new customers. Afterwards the fee will be revised to 2.5% . Bybit. Bybit is a cryptocurrency derivatives exchange platform and offers worth up to USD $90 for ... It as 100k transactions per second (TPS) that supports trading of very high volumes. The platform also owns a custom made mobile app for trading while on the go. Exchange Cons. Binance futures platform does not currently support U.S based traders. Accepts only USDT deposit and withdrawal in its Futures wallet. It does not offer any signup bonus for new traders. Does not support any fiat ... Binance is giving away a total of $1,000 worth of BNB to 10 lucky participants. Create an account at Binance, follow them on Twitter and retweet the mentioned tweet with the correct answer. Ten 10 lucky participants will get $100 worth of BNB each. Binance Review: What is Binance? Binance is an exchange that hosts crypto-to-crypto trades.This means that they do not accept real-world money, such as U.S Dollars (USD) or Euros (EUR).The exchange was first created in 2017 and was originally located in China. However, as cryptocurrency laws are very strict in China, the exchange has since moved to Japan, a country that loves digital currency! Binance will add BUSD, USDT, USDC to Binance Savings at 2020/08/19 12:00 PM (UTC), where 14-day products will be made available. All users who successfully subscribe to the savings products will also receive random DeFi token bonuses and enjoy double the rewards. Deposit $200 or more in crypto to receive your $20 in free Bitcoin bonus like Bitcoin, Ethereum and USD stablecoin. Bitcoin bonus is locked for 30 days after qualifying deposit and after 30 days you can keep or withdraw it. DO NOT WITHDRAW any crypto from your account during the 30 days after qualifying deposit OR YOU WILL LOSE the bonus.
Making money online fast. I will show you how to make $100 to $1000+ with only 2 HOURS! UPDATE: You can now make even more with SoFi. See the remarks below! By signing up for and completing simple ... Binance requires no verification, and lets you withdraw 2 Bitcoins per day which at today's value is about $30,000 per day with no verification. Binance is also out of HongKong and not the USA ... Is Bitcoin $100,000 or even $1,000,000 a real possibility? In this video I discuss why it's not a fairy tale to think Bitcoin can reach these prices, especially the $100,000. Based on an ... 🔵Phemex $112 Extra Bonus: https://phemex.com/web/user/register?group=74&referralCode=I4IEK ⚫Bybit $1090 Bonus: https://www.bybit.com/app/register?ref=RPyME 🟡... #BINANCE #BITCOIN #BTC Binance СЕО : In this AMA, We are discussing BTC price and talking about Bitcoin price prediction. Also, we prepared an airdrop of 10000 BTC to giveaway for our followers. Link to Binance https://www.binance.com/?ref=12885608 S H A R E - S U B S C R I B E - L I K E - Get $10 worth of Bitcoin when you buy $100 worth with this li... Bitcoin Technical Analysis & Bitcoin News Today: Is Binance margin trading the new thing? On Binance you can now trade with up to 20x leverage on many cryptocurrencies. People are leaving BitMEX ... Bitcoin Kurs steigt 100% Beste Coins des Jahres BTC Whales & Scams Halving Banken Binance 🛳 CryptoRockstars Tickets (Code - 10%: CRYPTOMONDAY): htt... ️ 5 COINS to $5 MILLION REPLAY: http://teeka.cryptonewsalerts.net Bitcoin price may be crashing currently, but the BTC price is expected to someday reach $1... #Binance #bitcoin #CZBinance Summing up the decade, Binance is financially healthy growing company with more than 800 employees, that helps to build the infrastructure to let the whole industry ...