/biz/ - Business & Finance

>>24343548
i just dont get it. they say their value is being a diversified deflationary stablecoin but their collateral is other stable coins and their pin is the us dollar. whats the point of it? current stablecoins seem to be working fine

>>24343636
Rsr is going into closed beta on 30th it's an exchange app. It's major market is Latin America where hyperinflation exists. It allows people to buy crypto stablecoins very easily, even more easily than buying usd with PayPal in these countries. Plus the tx fees are a lot cheaper for them too. Hyperinflating peso to stablecoin and back when needed. This allows normies to actually get ahead.

The transaction fees of app go towards the market cap of RSR. In the future owners of RSR will be able to do an arbitrage loop to maintain stability of Reserves RSV stablecoin. The numbers aren't out but it looks like 1% ROI per loop. There are concerns that rsr has too much potential supply (10trillion tokens) but the market cap needs to be above a certain amount of gwei (~$40Bn atm) for new RSR to be minted according to code. When doing an arbitrage loop the rsr is burned and you're given RSV which gives profit. Then you can buy more rsr and do it again.

Depending on how much the market pegs RSR to RSV, it could become a pseudo stablecoin at 1USD of buying power. Depending on the speed of the arbitrage loops it could go much higher though. And if the consumer app adds in anything about investing in RSR to make extra cash the demand will be crazy

>market mini-moons
>coins pump
>poor, financially illiterate retards chase greens on low price/low mcap coins driven entirely (e-n-t-i-r-e-l-y by short term speculation)
>market corrects
>WTF AAAAA I LOST ALL MY MONEY AAA I HATE THIS
>probably runs off to go dump his money in btc

everytime

>>24343548
i see a lot of potential in this thing for a few reasons
1. good name and url (reserve.org)
2. could actually be stable enough to use day-to-day
3. lot of big names and people who want to see it work

could easily hit top 10, and at current mktcp thats a good 20x return

>>24343662
interesting. their whitepaper seems to make larger claims and doesnt really focus on sudamerica. why cant indios just buy tether?

>>24343742
why the hell would i want a crypto tied to the USD

>>24343742
do you not understand what inflation is

>1000000000000000 supply

Nevin exit scamming on us

>>24343814
you realize rsv is pegged to the dollar right?

>>24343548
RSR is an extremely shitty project staffed by a bunch of individuals who are unqualified and beyond unprofessional. Just take a look at the kind of stupid shit they post hoping to pump their pathetic shitcoin a few more sense so that more idiots join the pyramid scheme.

>>24343956
it is?
to be honest i have $400 in this thing and i know next to nothing about it.

>>24343814
>>24344139
this is the ideal /biz/ poster
makes for high comedy

>>24344139
based, diamond hands this bitch to the moon

>>24343814
Newfag nigger

>>24343662
Will everyone be able to use the mainnet to arb when they first launch it or will everyone be able to?

>>24343742
They can, it's just not set up to be accessible or easy to trade with.

>>24344172
>>24344195
so what's the point of this pile of shit if the price isn't gonna go anywhere?
i thought we're suppose to be creating the next currency for ranjeet in fuckmanistan to use to trade sheep or whatever

>>24343742
They have multiple stages first is get a usd stablecoin. Next is to use their own holdings and RSR to stabilize. Then they're going to build an inflation proof currency decoupled from usd that holds buying power even as usd inflates. Tether inflates.
Next in these places of hyper inflation currency exchange fees go 30% and higher. And banks often don't have usd because of demand. If they put in $100 USD worth of pesos they only get 70 USD. Reserve app they keep $99.

>>24344715
Maynnet hasn’t even launched yet