the comfiest hold ever
RSR General
Bentley James
Gabriel Adams
Backed by Peter Thiel and Coinbase, how do you FUD that, a definite moon for fucking sure
Brayden Miller
It’s a genuine question. I’m all in Chainlink basically and wanna buy some RSR soon.
Aaron Sullivan
Can anyone explain on what planet this will moon in a reasonable time frame
>inb4 teH WhITePaPer SAiD sO
The whitepaper says "if" it gets to $10 (which i also believe was a hypothetical number, could be $10, could be $1 could be $.001 there was no promise), they will print more to demand but how does this demand occur.
62.6% of the supply is accounted for in this reserve.org
Which means when the rest unlocks there will be a dump of 32.4% (5 times circulating supply now approx), which means the market cap would need to go 5x before you even see a profit from now, to get to $10 you'd need 3333x5~15000x market cap which gives a market cap of around $165b.
Seems like $10 is very very far into the future and the opportunity cost would make this not worth holding yet. Surely wait until the first dump.
Dylan Diaz
This is not FUD, I want to know why I should hodl now over picking up when the initial investor supply unlocks. Will it 5x before then?
Anthony Morales
you're playing yourself. there are boots on the ground in venezuela and argentina right fuckin' now, once the app launches the rip is going to be ridiculous unless it totally fails (always a possibility with any crypto). waiting for the dip for a project with a market cap under 12 million, good luck to you
Julian Cooper
Explain to me then, I want to believe, I think this is good long-term but with limited funds I have a big opportunity cost to hodl. Once launched there there will be demand for RSV but how will RSR demand increase that much? Didn't they say initially RSV is backed by assets so should theoretically not fluctuate much?
Christopher Nguyen
I know its not fud
Good question, ill say a few things and maybe some other anons can fill in some blanks that i forget
The majority of the coins that you are referring to are held in the slow wallet. First, these cannot be dumped without a 1 month warning to the community with a explanation. Second, these arent held by any one person in particular, they are used to fund things the company may need while it is getting off the ground. The team and investors have their own bag of RSR that is not the slow wallet. Their coins are also locked for a duration (until mainnet). Circulating supply will not jump up drastically. Third, the plan is not to use all of these coins held in the slow wallet, some will be used within the protocol after the team has no control of it anymore when it is fully decentralized.
The team has said numerous times in the telegram that there will be much more burning then there is printing... ever. The team conservatively estimates 2-5% RSR burn per year so one can assume minting would be less than 1% a year.
You also have to realize the goal of what they are trying to do. They are trying to be a reserve country for numerous countries. Semi poor countries like Venezuela have GDPs in the TRILLIONS. If they get just 5% adoption in 3-4 countries only, that 100B RSR is minuscule, not even including burning and the fact the the majority of those coins will not be circulating.
The white paper does give and example of $10, and yes maybe that is never achieved. Maybe we only do $0.10 or $1 like you mentioned. But also, maybe we do $100 or $1000. Unlikely but possible if this gets adopted. Imagine 20 countries using RSR at just 5% adoption. Again we are into the tens or hundreds of TRILLIONS.
I dont think that $10 was a pipe dream.they could have picked any number. They could have said “if RSR is $1,000,000 per coin” but they didnt because that is very unrealistic. But apparently $10 is not.
Lastly nobody knows when this will moon...
Carson Hall
Maybe another alt coin or BTC will go higher in the meantime. But something to consider,
The app comes out by the end of September (testnet in Venezuela)
All circulating supply has been distributed to all backers and investors as of today
RSR will back RSV early in 2020
We are going into a recession and lots of countries are bordering on hyper inflation
RSV will be decentralized and backed on a basket of assets (not just pegged to the USD) there is currently no other coin like this.
Lastly, Sam Altman, Peter Thiel, Coinbase, Paypal founder Jack Selby, Digital Currency Group (Coindesk), and more are all investors.
Thats enough for me to hodl
You pick what's best for you
Andrew Clark
>First, these cannot be dumped without a 1 month warning to the community
The absolute state of RSR bagholders, these coins can be dumped whenever they want, there is no algo stopping that to happen.
They just need to make a transaction, retard.