/biz/ - Business & Finance

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.

literally illegal for americans to own. how about Ocean or BRDG instead? Yea that sounds better/.

>>21640219

Wow. I've been hearing this circulating on the discords, nice to hear it confirmed here.

>>21640146
>US treasury bills
Why on earth would they be using US Treasury bills to back this currency when their yields are at an all time low? They are backing digital fiat with even more worthless paper fiat.

Not even fudding right now can someone explain to me how this makes any sense? Talk about building a house of cards on top of another house of cards.

>>21640146
Stop mentioning this scam

Insider here with some valuable information. Just got a phone call from a colleague of mine. He said there were some huge contracts and deals that were signed with RSR, but there were some legal stipulations involved, and now everyone is pulling out. The situation is looking grim. RSR will most likely pump to .7c short term, then crash back down to .005c and ultimately fizzle out and die. I'm just sharing this info with people because i sincerely care about the welfare of everyone and their families whom are involved.

>>21640309
Saw this discussed in the RSR price telegram channel, dropped my whole 1MM bag today. Thanks for confirming.

>>21640298
>Talk about building a house of cards on top of another house of cards
You described it perfectly. But the average crypto investor is too retarded to understand it

>>21640298
USD has probably 20 more years left in it. If it were to fail anytime soon the entire world would be fucked. I think RSV and the rest of the world will slowly transition away from the USD so doesn't seem like that big of a deal right now to be using Treasury Bills as the project progresses

>>21640389
Unironically waiting for someone who holds this coin to respond to this instead of shitpost. The entire foundation of this coin is flawed if they are backing it with an asset that is yielding the worst it had in decades. People are dumping this shit left and right for gold and bitcoin.

If I were an anon lurking this thread I would stay away from RSR and stick to stacking bullion.

>>21640219
>>21640309
and there you have it, do yourselves a favor and stay away

>>21640146
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.

>>21640329
>>21640263
>>21640219
Schizo's coin

>>21640413
I've asked the same question in their telegram groups. No one as an answer. Bunch of midwits

>>21640508
*has

>>21640219
>>21640263

Why are you samefagging?

>>21640600
not the same guy are you blind?

>>21640600
Some faggot that thinks he's funny posting in literally ever RSR thread. Same type of retard as "that's a man" posters.

>>21640329
This fruit copied my fud message from an earlier thread and is now pasting it. LMFAO

>>21640508
Not really a surprise that people who bought a project run by a guy without a college degree can't answer this. Huge sell signal.

>>21640146
Let me fix this for you, newfag shiller OP.

>>21640398
>USD has probably 20 more years left in it
That zero is extra

Can you retards stop saying it's illegal. It's only illegal to get the coin from the chink exchange.

>>21641092
even that's not illegal lol

>>21640219
>>21640263
SAMEFAG BE FUDDING