/biz/ - Business & Finance

>it's name is chainlink so it must link chains
kek

I’ve been thinking about the economics for a while now and come to the conclusion it’s just a huge scam.

If you don’t know about RSR I’ll explain it in simple terms:

1) RSV is a stable coin that maintains a peg of $1 because it is redeemable for $1 worth of real world assets
2) RSR has value because it can be used for arbitrage opportunities ($1 worth of RSR can be redeemed for 1 RSV so if RSV is trading above $1 you can redeem your RSR and market sell your RSV)
3) But arbitrage opportunities don’t create money out of thin air! Like any market, it’s a zero sum game
4) For an arbitrage opportunity to present itself someone has to be willing to pay more than $1 for something that is worth exactly $1
5) Any money made in arbitrage by holders of RSR is essentially money lost by users of RSV

Reserve is trying to achieve a noble goal, a truly decentralized, denationalized, fair money. But they are creating a solution that will never work in the long. There does not exist Nash equilibrium point because the holders of RSV and RSR have opposing, irreconcilable goals. RSV users want the currency to be as stable as possible. RSR holders want the currency to be as volatile as possible.

If RSV actually is stable, then price of RSR will go to zero because there are no arbitrage opportunities. If RSV is unstable enough to present significant arbitrage opportunities people will use a different stablecoin, because who wants to use an unstable currency?

The way I see things is that the success of crypto relies 100% on DeFi. Crypto will never gain adoption if it’s only better ideologically, we need to start viewing crypto from a positive perspective rather than a normative perspective.

normies don’t care about decentralization.

Like 2% of people are libertarians. Most people are perfectly content being debt slaves.

DeFi actually needs to be able to return significantly better gains than tradition finance (to offset the barrier to entry) and adoption will come. People don’t all of a sudden care about bitcoin because they’re cypherpunks now, they care because it makes them money. But so far we have not seen DeFi become scalable. If putting your money in a crypto savings account starts to return high rates of interest risk free for 8-9 figure sums of money is when things will really start to get crazy. We will see investment funds and banks putting massive amounts of their balance sheet into DeFi.

>>29566496
It couldn't be that it's not one nationality's fault, but a worldwide decentralized phenomenon based on the current market sentiment?. . R-Right anon?

It was John Nash(ideal money), confirmed 180+ IQ

Check em

>>29098080
tfw farming bnb/cake flips at 1.3k APY

whoever is not in this is missing the train, it's not gonna be at these prices forever

I am both a modest and a patient man.

Shill me some quick x2 coins, or alternatively some good medium-to-long term holds.

Mfw you can literally manifest wealth just by thinking no need to wagecuck

>>28961992
>ROOK
>AMPL
Ah, I see you're a fellow big brainer. Bumping out of interest.

>>28461816

See>>28461191

I was worth negative dollars my whole life until 25. At 24 I was worth -16k. Get a full-time job in IT or something that pays well up front. Bust ass a few short years while investing and saving AND living cheap. Also try to avoid expensive women in that duration and expensive hobbies like sports cars. Don't forget why you're waging. This is the accumulation period, aka 1st century monk-mode in clown world.

When you make it you can start taking risky investments that can 2-100x. You will think differently about money and won't be as emotional with it. Never forget why you're working hard and don't take the ticket, you'll know what I mean when it happens to you.

Basically you need to leverage clown world in your favor.. the end goal is to make it so all your decisions are purely your own and not someone else's.

> be me
> broke NEET live in my rich grandpas basement
> after years of convincing him to buy crypto I get him to drop 10k on GRT at 20 cents
> it’s worth $100,000 now
> he said he doesn’t know what to do and fully expected to lose it all and just invested to get me to shut up and stop bothering him


What’s the right move here? Am I entitled to any? Do I push him to put more in? (He literally has millions lying in cash in then bank)

Or just steal his private keys and move to Cambodia when GRT hits $10?

Post your crypto news/research sources.

>>27804689
This unironically

>>27528305
Reminder that you don't lose money if you never sell

>>27502499

Who else here has a massive brain and didn’t get swept up on Reddit hype that couldn’t possibly be realized
>bought 20k in GME at around $30
>sold it all when it hit $400
>sitting comfy on about 250k now
I never once believed this could go over $500. If it got close, the rules would be changed to bring it down. And I was 100% right. I never cared about le epic stick it to hedgies meme, I just wanted to make money.

Ok i just realized alliance with reddit wasn't the best choice

>Find stock that costs $1
>Buy shares of it
>The increase in demand causes it to go up to $1.01
>Sell shares for $1.01
>It goes back down to $1
>Repeat and make infinite money

How have you guys not figured this out yet?

Bitcoin is going to 100k in the coming weeks, 1 million+ in possibly 1 year, after the hyperbitcoinization event it no longer makes sense to value it in USD shitcoin. By the year 2100 dyson spheres will be constructed to mine what few remaining bitcoins are left. Vast swathes of the earth will be strip mined by AI machines to excavate lost hard drives containing bitcoin, space wars with billions of casualties will be fought over 1.0 BTC. A vast totalitarian surveillance state is currently being constructed to find the identities of current BTC HODLers, when they are found they will either be physically tortured to give up their BTC, or put into virtual reality torture simulations where 1 second RL time is 1000 years of virtual torture, your mind will not be able to tell the difference. If people find out you own BTC you will be found and killed for the keys. Any attempts to create a bitcoin citadel will be halted with the use of nuclear weapons. In the longer term, bitcoin will become the galactic reserve currency, and then the universe reserve currency, energy will be harvested by black holes to operate the network. $1000 Chainlink(LINK) is also extreme FUD, by 2050 1 chanlink(LINK) token you will be able to purchase an insterstellar fleet of space cruisers

Bitcoin is going to 100k in the coming weeks, 1 million+ in possibly 1 year, after the hyperbitcoinization event it no longer makes sense to value it in USD shitcoin. By the year 2100 dyson spheres will be constructed to mine what few remaining bitcoins are left. Vast swathes of the earth will be strip mined by AI machines to excavate lost hard drives containing bitcoin, space wars with billions of casualties will be fought over 1.0 BTC. A vast totalitarian surveillance state is currently being constructed to find the identities of current BTC HODLers, when they are found they will either be physically tortured to give up their BTC, or put into virtual reality torture simulations where 1 second RL time is 1000 years of virtual torture, your mind will not be able to tell the difference. If people find out you own BTC you will be found and killed for the keys. Any attempts to create a bitcoin citadel will be halted with the use of nuclear weapons. In the longer term, bitcoin will become the galactic reserve currency, and then the universe reserve currency, energy will be harvested by black holes to operate the network.

>>25866286
>Mfw NANO

Why is LINK so low? I don't own any but it worries me that a coin with the tech to back it up like ethereum isn't pumping
Is it being included in the XRP scandal?

Coming to a uniswap pool near you
0.1 Eth pairing rate for the length of the LGE.
Shillers already started shilling
Schizo having a day off