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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


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21677920 No.21677920 [Reply] [Original]

/biz/ im really trying to see the value in this but in which term is it bettter then any other cryptocurrency/DEFI player or stablecoin shill me on rsr please and show me usecases that will lead into mass addoption.

RSR general thread

>> No.21678009

You may not want to hear this, but you should.

My friend works at a wealth management firm in San Francisco. I asked him to look over the white paper so I would know if they were being honest about the tokenomics. He told me that this is the most idiotic idea he's ever seen for a stablecoin, that the team clearly has no idea how they will back the currency with real world assets and that this is basically going to become the new Bitconnect once the bubble gets large enough. The biggest cause for concern according to him was their intention to use not only foreign fiat but also alternative assets for stabilization. In particular their use of vehicles like paper gold and securities is going to be very dangerous going forward. Paper commodities have been shown to be fundamentally flawed in the post-COVID world because they are even less reliable than unbacked currency and supported only by manipulative exchanges like COMEX. Securities are worth less than the paper they are printed on as well, just look at how investors have been running from all of the bonds issued by the Treasury this year. Guys like Peter Thiel and Sam Altman might have thought this was a good idea before 2020 hit us, but now it is a total disaster. I will probably ride this wave up a few more pennies because I bought in 2019 but if you are thinking about getting into this coin, just stay away. There will be nothing but losses in your future.

>> No.21678064

>>21678009
Fudding RSR used to be fun. You faggots have completely ruined it.

>> No.21678174
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21678174

>>21677920

>> No.21678183

I have quite a bit of rsr been think9ng about cashing out but i dont understand how i can pay the tax. If i have to put in a purchase date when i ised the eth to buy it they will see i bought before it was allowed in US. Should i just hold at this point or gtfo of the states

>> No.21678353
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21678353

>>21678183
Why would you sell when this is going to a dollar minimum?