Is this a ponzi scheme?
8 years ago in #viva by vivacoin (56)
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In a lot of ways you VIP account is easier to explain this way...
Imagine if your bank paid you interest on your savings as a chunk of every fee they received from checking, credit cards, loans etc. Now imagine that this compounded and imagine that the amount received was proportional to your savings vs the savings of others.
That's the VIP in a nutshell.
Some feedback. As someone who hasn't kept up with VIVA, and thus doesn't know where it's at right now, this comes off as a non-explanation.
This is one of a series of messages that the VIVA project has been sharing out and addresses one of the most common questions that we've seen on other social media outlets. Is this a ponzi scheme? Simple answer: No.Totally understandable, @pfunk
With ICO on May 1, everyone involved is feeling the pressure and excitement for a successful launch. It's been getting pretty busy on the chat channels over there. :)
this comment seemed to be a misplaced comment to a question in the #ama channel of the http://chat.vivaco.in - lot of explanations and answers on individual questions are given 24/7
Re: This is my big asking whether someone can put LIAIKE my cats, blogs and even better would be a donation would advance saaks. Thanks famous cats who made donations. BIG THANKS IN ADVANCE!!
What?
The purpose of it, is to allow anyone to ask any question related to VIVA and get the best answer, as we seek to build a FAQ and better, more concise materials that explain what's going on.We have a channel called #ama or Ask Me Anything over in https://chat.vivaco.in/
What @tradeqwik is saying, is that the answer (which you're calling a non-answer) seemed to be coming from over there as the result of a discussion where we were explaining something else, i.e. misplaced.
Thanks for chiming in pfunk. It's great to have a sounding board and you've always been great at it.FYI @tradeqwik is managed by a handful of people and that one wasn't me :D
I've asked the entire VIVA community to dial back on messaging here at steemit and when we do post about VIVA, to promote the post so it's clear when we're sending out marketing vs people just talking about their feelings and experiences with the project.
We're new and we're very grassroots. We've got a long road ahead and we're all very excited to get this journey underway.
Help me understand something...
Why would it be "practically free?" What advantage does not free have over actually free transactions via Steem?
Hi @ats-david - I'm still learning about the VIVA project especially since I don't come from any kind of crypto background but I've been fully immersed for over a month now and hopefully can expand on this a little.
"Practically free" is speaking about the cost to transfer funds from peer-to-peer anywhere around the world through traditional wire transfers and bank remittances. If you've ever sent money through Western Union, it's often cost prohibitive but in cases of emergency, a painful necessity.
Of course Steemit can transfer STEEM & SBD free between us, but there is still usually a fee to convert and cash out. The VIVA project is actually bridging the gap between fiat and crypto. You can send you STEEM & SBD there, convert it to VIVA Coin - and pretty soon be able to SMS text a friend funds (at the cost of an SMS message - whatever cell service providers charge). Additionally, spending the VIVA will never be easier because we're going to be able to tie our Mastercard to VIVA and spend it wherever MC is accepted. Because the Crown holders are responsible for holding the value of VIVA Coin at ~$5.50, you never have to worry about the fluctuation of a volatile market. What's $5 in your account one day should only fluctuate +/- 10%. Hope that helped you understand the scope of the project a little?
Does anyone know if this coin will be traded on the larger exchanges in the next few months? If the TradeQwik platform goes down, can you hold the coins in another exchange or wallet?
Just like if steemit goes down and you still have your steem, if tradeqwik goes down you'll still have your viva.@cryptofunk Yes there is a separate wallet rolling out, but your funds on TradeQwik are held in your VIVA wallet.
We're launching the new wallet with the ICO. But it's no different if it's viewed through tradeqwik or the new service. You don't need to transfer back and forth.
BTW that would be a great question for #ama in https://chat.vivaco.in/
As for larger exchanges, have you seen the VIVACOIN asset on OpenLedger yet?
Nope can't see it on Openledger. Has it already been listed or is it about to be?
@virtualgrowth is managing the rollout of our bitshares gateway so I'll ask him to pop in and answer that.
Currently created but not issued. It will be seen sometime today.
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