Frank37
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November 07, 2018, 06:59:48 PM |
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is MenaPay going to add fiat gateway also?
Wouldn't that need more banked people, in the videos they talk about how many people in this region is unbanked. ok but how they will get MenaCash in the first place? If everyone will use it, ok, you won't need fiat anymore because there will be MenaCash only but do you think that the reality is like that? In the first place? That's a big cake.  To be among the top ten would already be a huge thing. |
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MandatoryOption
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November 07, 2018, 08:27:22 PM |
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is MenaPay going to add fiat gateway also?
Wouldn't that need more banked people, in the videos they talk about how many people in this region is unbanked. ok but how they will get MenaCash in the first place? If everyone will use it, ok, you won't need fiat anymore because there will be MenaCash only but do you think that the reality is like that? That's a valid point. Every crypto currency is measured in fiat money and unless the whole world makes the switch you need people investing fiat first. As you said, that's a problem every crypo-currency has. Right now crypto needs fiat gateways. The change from fiat to crypto can only work slowly but every possibility to change your fiat into crypto will help in this process. |
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Amelie Poulain
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November 07, 2018, 08:30:42 PM |
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is MenaPay going to add fiat gateway also?
Interesting question... and if yes, they are going to add only their local currencies for arabic countries or usd. euro as well? Their goal is to just use MenaCash but to achieve that they need a fiat exchange for sure, it's batter if they integrate it because you can't trade in fiat every token in every exchange At this time, when the market begins to recover, there is interest among investors. i'm sure many of those would prefer fiat. Someone tried to ask about it in their telegram channel? |
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king_of_alts
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November 07, 2018, 08:34:42 PM |
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At this time, when the market begins to recover, there is interest among investors. i'm sure many of those would prefer fiat. Someone tried to ask about it in their telegram channel?
Since it is a project focused on Northern Africa and the Middle East maybe they don't want to use USD as a fiat currency. |
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ParRus
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November 07, 2018, 09:48:51 PM |
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Someone knows - they have competitors? or projects with similar concept, I like this idea, but competitors may hinder their progress.
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Rigorous
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November 08, 2018, 12:00:37 AM |
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ok but how they will get MenaCash in the first place? If everyone will use it, ok, you won't need fiat anymore because there will be MenaCash only but do you think that the reality is like that?
I think the idea is to be like USDT, so users can exchange their tokens and coins for MenaCash to ... reduce their exposure to crypto asset volatility I suppose. |
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belechau
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November 08, 2018, 12:48:09 AM |
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in fact the ico rating sites are not so reliable, just have to take a look but must be combined with other information such as credibility of the team, idea of the project, if is the only of its kind, in short, a personal search must be done in combination with the sites of rating, news on the mobile payment app?...
most ICO rating site sell their service, there are some company that partnership working with them. always do DYOR is best way to get real information Its always like this not just in crypto, you have to pay big bucks for a good promotion and i am sure some of those sites are receiving quite nice sums to put certain projects on the first page with a good rating. Unfortunately, this is true, for this reason, self-assessments are every day more indispensable in the Crypto, because despite all the differentials and desires of improvement, the forms of promotion and execution approximate those of the World outside the Crypto |
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jonnytracker
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November 08, 2018, 02:48:01 AM |
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What can we expect from a unregulated market. Fraud is prevalent. Each person for his own good
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levyashin
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$CYBERCASH METAVERSE
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November 08, 2018, 08:03:58 AM |
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ok but how they will get MenaCash in the first place? If everyone will use it, ok, you won't need fiat anymore because there will be MenaCash only but do you think that the reality is like that?
I think the idea is to be like USDT, so users can exchange their tokens and coins for MenaCash to ... reduce their exposure to crypto asset volatility I suppose. It seems they will back that pegged coin with the amount you spend to purchase. Like 100 person give them 100.000$ total for 100.000 menacash and circulating supply is 100.000 token backing up with 100.000$. When you cash out like 20.000 of it, and the outcome is 80.000$ in the bank and 80.000 token circulating. |
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niklasmato
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November 08, 2018, 09:59:30 AM |
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ok but how they will get MenaCash in the first place? If everyone will use it, ok, you won't need fiat anymore because there will be MenaCash only but do you think that the reality is like that?
I think the idea is to be like USDT, so users can exchange their tokens and coins for MenaCash to ... reduce their exposure to crypto asset volatility I suppose. So it should become a stable coin to say so ? I'm not fully grasping that piece from the information that is available, but it can be me. |
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Rigorous
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November 08, 2018, 10:10:29 AM |
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It seems they will back that pegged coin with the amount you spend to purchase.
Like 100 person give them 100.000$ total for 100.000 menacash and circulating supply is 100.000 token backing up with 100.000$. When you cash out like 20.000 of it, and the outcome is 80.000$ in the bank and 80.000 token circulating.
Makes me wonder why MenaPay is necessary. Would MenaCash alone not be enough to enable electronic payments? Although I suppose when people collectively purchase over $25 million worth of MenaCash, they run in a liquidity crisis because there is not enough MenaCash. Maybe that is the reason for MenaPay. |
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mandibleclaw
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November 08, 2018, 12:46:22 PM |
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ok but how they will get MenaCash in the first place? If everyone will use it, ok, you won't need fiat anymore because there will be MenaCash only but do you think that the reality is like that?
I think the idea is to be like USDT, so users can exchange their tokens and coins for MenaCash to ... reduce their exposure to crypto asset volatility I suppose. ok but people even exchange fiat for usdt, so I can safely assume that a fiat/Menacash pair is very much needed (at least right now, I don't in 10 years from now what will happen) |
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pynetx
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November 08, 2018, 12:51:10 PM |
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ok but how they will get MenaCash in the first place? If everyone will use it, ok, you won't need fiat anymore because there will be MenaCash only but do you think that the reality is like that?
I think the idea is to be like USDT, so users can exchange their tokens and coins for MenaCash to ... reduce their exposure to crypto asset volatility I suppose. What will put in reserve in order to circulate the Mena cash in Crypto world? |
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Makkara
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November 08, 2018, 01:49:38 PM |
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It must be either cash or other cryptos as usual. The team should clarify all these questions as i could not find the answer...
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omwibya
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November 08, 2018, 01:52:43 PM |
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It must be either cash or other cryptos as usual. The team should clarify all these questions as i could not find the answer...
i agree, I still don't understand how it will all work in the end. |
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batuhantstknn
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November 08, 2018, 02:31:45 PM |
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ok but how they will get MenaCash in the first place? If everyone will use it, ok, you won't need fiat anymore because there will be MenaCash only but do you think that the reality is like that?
I think the idea is to be like USDT, so users can exchange their tokens and coins for MenaCash to ... reduce their exposure to crypto asset volatility I suppose. What will put in reserve in order to circulate the Mena cash in Crypto world? Total number of token is 400 Million and we will see the amount of circulating supply after exchange |
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Rigorous
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November 08, 2018, 02:40:12 PM |
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What will put in reserve in order to circulate the Mena cash in Crypto world?
Total number of token is 400 Million and we will see the amount of circulating supply after exchange I think the question is rather how will the treasury be replenished as MenaCash is being withdrawn for fiat. |
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matjas
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November 08, 2018, 03:43:36 PM |
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It must be either cash or other cryptos as usual. The team should clarify all these questions as i could not find the answer...
i agree, I still don't understand how it will all work in the end. They might adapt to the situation that will be then and are not final on all of their plans yet. Things changes quickly out here and you have to be fast to act although there should be some base they have to stick to so investors know what they can expect from it. |
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Felipeo
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EOSABC
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November 08, 2018, 06:05:06 PM |
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What can we expect from a unregulated market. Fraud is prevalent. Each person for his own good
Everyone has to do their own research in this market at this moment. The market is too much red for all the crypto and ICO's too not getting much investment. |
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mandibleclaw
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November 08, 2018, 06:05:28 PM |
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It seems they will back that pegged coin with the amount you spend to purchase.
Like 100 person give them 100.000$ total for 100.000 menacash and circulating supply is 100.000 token backing up with 100.000$. When you cash out like 20.000 of it, and the outcome is 80.000$ in the bank and 80.000 token circulating.
Makes me wonder why MenaPay is necessary. Would MenaCash alone not be enough to enable electronic payments? Although I suppose when people collectively purchase over $25 million worth of MenaCash, they run in a liquidity crisis because there is not enough MenaCash. Maybe that is the reason for MenaPay. You know something? It's not the same thing if there's an app with any already existing stable coin? Like an app with usdt, tusd, pax, gusd and so on? |
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