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

/biz/ - Business & Finance

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26178730 No.26178730 [Reply] [Original]

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.26178788

too long won’t read it

>> No.26178805

>>26178730
>but if you are thinking about getting into this coin, just stay away. There will be nothing but losses in your future.

Thanks just bought 100k

>> No.26178900

>>26178730
That's cool and all, but can you direct me to the person who asked?

>> No.26179054

The white paper is shit. The tokenomics are shit. The only thing this project has is Peter Thiel. But a name isn't exactly enough to provide substance. But who knows, if I were to pick a project to do CBDC's in America....I guess it would be them? But the Americans would most likely build their own consensus, or take from Xar. I just don't see a need for RSR and RSV whatsoever.

There is no movement or communication from the dev team, The circulating supply keeps mysteriously increasing. The entire pitch right now is decentralized store of value but it's just pegged to the dollar like the other 30 "stable" coins. The whole point is to get away from inflationary currencies yet RSV is currently pegged to one. RSR has an overstated role in the system and is turning out just to be a scam coin attached to a stable coin with no actual timeline to change that. Huge dump incoming.

>> No.26179585

Go fuck yourself OP i'm buying more RSR on the dip. SEEYAH NERDS.

>> No.26179604

>>26178730
illegal in america. only used for fartless beaners