/biz/ - Business & Finance

>>23956620
>>23956653
There are many problems with this particular shitcoin, anons. Too many to even count. Look into my crystal ball and three major reasons will be revealed.
>1) If any government releases a guaranteed stablecoin, it's over. It doesn't have to be the USD. It could be the chinese yuan, the canadian dollar, the euro, whatever. Dozens of governments are already trialling or *have already released* their backed coins. The second a single one of them is readily available for the open market, there is no need for RSV or RSR. It will dump to 0.
>2) attempting to peg asset baskets to fiat requires an ever inflating asset base alongside every single dollar printed. For every dollar the US government prints, the reserve has to increase by that exact amount. Any March style crash, or even dip in the price of real estate, and it's over.
>3) Assets bundles cannot be pegged to currencies. The IMF tried this in many different countries between the 50s and the 70s and eventually determined it simply isn't possible. The recipient government will print more money (rendering the asset base insufficient), the assets will reduce in value (as all assets do in market cycles), and most likely, both will happen simultaneously.
>4) TLDR You can't try to decentralise a centralised asset (the USD). The only asset you can decentralised is Bitcoin, which already exists.

>>22933362
Not a scam. The technology and idea are needed for crypto, however, the crystal ball says the token is not needed.

>>22933375
Mostly yes. The concept is just good enough to get people to put their names to the project, but they know it won't work. They will, however, get the benefit of plausible deniability and make a lot of money in the meantime.

>>22933396
No. Life was not made to be lived alone.

>>22933417
Yes.

>>19183813