/biz/ - Business & Finance

>>26256790
Because you don't have access to usdc, and if you did you wouldn't be able to spend it.
You'd know this if you were actually a starving venezuelan

>>26256790
Also you'd buy pic related. Not rsr

imagine using a coin pegged to an inflating currency

>>26256790
I bought this. Did I get scammed?

They buy RSV so what drives the price of RSR? It's legit token not needed. It's there but doesn't need to be.

>>26257180
>spoonfeed me

>>26257029
>Because you don't have access to usd
wat? I'm from Venezuela and just use binance

>>26257029
Please explain. If you have an internet connection you should definitely have access to usdc or any other stablecoin for that matter. But Reserve is trying to streamline the process and be more normie friendly is suppose.

>>26257180
read the whitepaper brainlet

Tokens unlocked beginning of Feb, just go look what happened last time that happened lol, price went down like a lot...if you're a hodler dont look at the charts but this shit is going to ~0.025

>>26256790
Also RSR is orders of magnitude overvalued compared to how many RSV actually exist at the moment (1,573,787 according to Coingecko). Seems like not many people are actually using RSV. It's just us, rich westerners, speculating on the RSR token.

Ihave found a new defi BAEX(#baex), does anyone know about it? That's a binary exchange with USD/YEN, crypto and many other stock indexes. Seems legit and reliable with Yahoo quotes source and algorithmic efficiency

>>26257401
What I heard from friends is that the App doesn't use RSV at the moment. So where do the RSV come from?

>>26257254
is it true you bean niggers use dash for everything?

>>26257095
Is RSV not pegged to $1 usd? If not then what is backing it?

>>26256790
Because you are a starving Venezuelan and so likley very retarded and would buy a shitcoin like rsr

>>26257528
It's relatively popular in crypto terms but normies don't really use it.

>>26257285
>>26257248

There's other stable coins that don't require a second coin. But this is a magic system that 100% needs a second coin, which benefits no one but investors. But but it's a regulator, eat shit it's been done before whole project is fucked and makes no sense. I'm also sure the government is just going to let a foreign currancy take over.

>>26256790
Exactly. Why would you want RSV, a usd stablecoin backed 1/3 by USDC, 1/3 by TUSD and 1/3 by PAX when USDC is clearly the most legit and liquid one and also the one that will likely come out on top? There's zero reason to go with RSV instead of USDC..

>>26256790
Im from Venezuela and there are better ways of getting bolivares, apps like airtm take less time, less fees and much faster.

that being said, I wouldn't even consider ether or bitcoin, cash (US dollars) is and always will be king.

fuck this shitty app.

>>26257646
>just going to let a foreign currancy take over
nothing they can do kek

>>26257646
This is a classic Silicon Valley sophisticated scam lol, if you bought <0.01 good for you but if not, you sadly missed the boat.

>Imagine thinking a decentralized asset "for the people" will take over the financial system, espcially in corrupt countries

TopFuckingKek

>>26257646
>currancy
brainlet detected
>>26257685
>Im from Venezuela
larper detected

>>26257529
it is initially, but that's not the long term plan, it's designed to be more stable than that

>>26257731
shut the fuck up, you spic piece of shit shiller, go back to telegram.

>>26257602
what do normies use? USD? new currency? i was under the impression the bolivar had hyperinflated out of existence.

>>26257805
everything here is related to USD, everything, even small coffees are tied to USD since its way more stable than bolivares, bolivares are still accepted, and I think people usually use Zelle or cash. There are also people who exchange it to bolivares.

>>26257686
You're right, there's probably nothing the corrupt regimes can do to stop it as long the citizens have unrestricted access to the internet. But they also can't do shit against other stablecoins, not just RSV. The question is why would RSV capture the market if USDC (and other stables) also exists? From what I can tell Reserve is just a glorified mobile app for storing and transacting with the RSV stablecoin (glorified crypto wallet if you will).

>>26257711
>espcially in corrupt countries
these failed countries are the least able to control their population's currency. Half of them use US dollars.

>>26257974
They will have an incentive model similar to paypal to gain traction in these countries

>>26257974
I have tested it, and it's not even using a blockchain, its just a glorified exchange app, its literally just a chat app made in React that just communicate with someone who works for some reason in Venezuela, you can also test it using a VPN and a brand new account on playstore and just download the app. Initially I was interested in this coin but saw all the bullshit behind the scenes.

>>26257974
>>26257646
>>26257180
>>26257095
imagine having full faith in the US gov that they won't fuck with 1:1 stablecoins because they don't follow ever increasing crypto banking rules.

Just don't buy, stay poor and shut the fuck up

>>26258065
We'll see but I disagree. Most RSR investor have this idealistic view of the third world lol. People in those countries want the easiest, cheapest and most reliable product, they dont care that "Peter Thiel is an investor". So far Reserve is behind their competitors, I wont spoonfeed but DYOR and you'll see whos really using it in Vzla.

People dont even know what Venture Capital is and spew bs like "muhh Thiel and Sam Altman invested so its legit". VC's invest in 100-200 projects with the hope that 1-2 is a unicorn and recoup the losses for the 99% others...Thiel might not even know wtf Reserve does lmao

>>26258137
pre mainnet faggot

>>26258182
lmao imagine being this desperate

>>26258182
Imagine caring about the US govt.

>>26258255
seethe broke bitch. I'm up 2800% on this project. Get fucked

>>26258119
I know about that but still. Just look at the recent rise of USDC. USDC could corner the whole market that Reserve is trying ta capture in one day as a side project. Coinbase is already giving away free crypto for answering some normie questions about crypto. What is stopping them from giving 5 USDC to every venezuelan citizen to bootstrap adoption USDC?

>>26258257
>completely missed the point
lurk more brainlet

>>26258294
Yes sir you did the needful

>>26258339
So what can the US govt do?

>>26258182
I don't have any faith in the US gov at this point but RSV literally falls in the same category as any other usd stablecoin right now. You're deluding yourself for thinking that RSV is somehow different.

>>26258316
People who use apps like this, dont care about blockchain dont care about Investors, dont care how fancy is your app, all they care is changing their USD to Bolivares, asap, with small fees and that is reliable.

>>26257108
ANSWER MY QUESTION PLEASE DID I GET SCAMMED

>>26258451
>>26258470
read the STABLE act then think about it

It isn't just for Venezuelans... RSV will be a solid stablecoin (more reliable than Tether). The app is just a side project to test real world use cases--something no other cryptos seem to be interested in trying.

>>26258470
basket of assets stablecoins different from 1:1 pairings. the delusion is yours sir

>>26257180
>what drives the price of RSR?
I know this is just a troll, but it's an effective one. I read this and all of a sudden I want to see you get raped by a pack of feral niggers.

RSR is pure speculation at this point. The valuation is inflated to sky high levels because the team is trying their best to convince the RSR investors that RSV is actually being adopted at a rapid pace in third world shitholes that those same investors don't even give a shit about. RSR is nothing more than a cult of holders right now. At least other projects at a similar valuation are getting some actual use and adoption in the crypto space while Reserve is trying to claim real world adoption which is not happening at all. They are desperate to highlight every hairdresser in Venezuela that has installed the app on their phone and has in effect become a walking advertisement for the adoption of RSV. Just give me a fucking break. Congrats to everyone who has gotten into the RSR cult early but anyone buying now is just asking to get dumped on by the earlier cult members and VCs once the facade starts falling off.

>>26259355
>pure speculation
Speculation, on a crypto? No way!

>>26259355
you had over two years

>>26256790
I'm from Argentina (le high inflation country) and would never buy that shitcoin

>>26259407
I know, shocking right? The point I'm trying to get across is that pure speculations has already taken RSR from a project valued at 10 million to a project valued at 400 million. Speculation can only get you to a certain point especially if a project has barely anything to show for. Reserve is at a point right now where they have to start demonstrating some real adoption if they want for RSR to keep climbing in value. From what I can see they haven't progressed much and the house of cards can start collapsing sooner than many may think.