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Reserve – A flexible pool of stablecoins designed to reduce risk

reserve.org

71–80 of 119 posts

Re: Reserve – A flexible pool of stablecoins designed to reduce risk

#71

> Crypto-as-money is still young. We have a lot to do. Do you remember Napster? Tether is kinda like Napster – it's taking off, people love it, it's a little sketchy, and it's probably not the design that will last. We don't want to make the equivalent of Kazaa – another blip in the history that ultimately doesn't ultimately work out. The challenge is to build a platform that's as robust as BitTorrent and as great to…

Don't you know the SV aristocracy are above the law? We can debate the law, we should, not following a law is also a choice. But disrupting laws as an ideology is eroding our ability to engage in meaningful social exchanges. The pipe dream that technology can absolve humanity from unavoidable need for trust and faith is perhaps improving our material situation in the short term. But human psychology is not easily augmented by technology. Deep down, to face the uncertainties and the inevitable lack of full knowledge of reality, we strive for the safety of faith and trust.

Trying to eliminate it will push a massive amount of humans to reactionary action.

And when humans can't get safety out of trust, they get it using force and control.

The art is to balance these, not to imagine you can eliminate it.

BTW: I'm far from being religious. My idea of faith is more abstract than the religious one.

Re: Reserve – A flexible pool of stablecoins designed to reduce risk

#72

I want Monero but as a stable coin. Can someone just bring that out so we can have a crypto currency that is actually useful as a currency?

Monero is on its way to being delisted from all exchanges, and outlawed.

Not all, and if, we also have DEX :)

Re: Reserve – A flexible pool of stablecoins designed to reduce risk

#73

Earlier quoted context omitted.

Hardly. I just don't see it solving any problems for anyone in a country without robust financial institutions either, certainly not at scale.

qualifying it with "certainly not at scale" tells me how far from the mark you are. "Scale" is not the point. Independence and resilience is.

if that's only for 10k libertarian tribes, then I guess it does a good job. Unfortunately the nice hardware and electricity grid actually needs a society to build and maintain. And these are much more people thank 10k libertarians.

Just because it still pops up and noone responds to it at all. How many transactions can bitcoin handle nowadays? And how much energy does it consume again for that?!

Re: Reserve – A flexible pool of stablecoins designed to reduce risk

#74

I want Monero but as a stable coin. Can someone just bring that out so we can have a crypto currency that is actually useful as a currency?

Haven Protocol’s xUSD is what your’re looking for. The potential for this one is huge. Just check havenprotocol.org or join the discord server. Very active community and really exciting stuff to come such other xAssets including gold, silver, euro and Chinese yuan, all with Monero tech. Twitter is @HavenXHV. Cheers.

Re: Reserve – A flexible pool of stablecoins designed to reduce risk

#75

Earlier quoted context omitted.

I recently read the rebuttle to this layer of the Tether saga and it seems this has been addressed (to a degree). https://twitter.com/SBF_Alameda/status/1349331577390579718?s... Many of the other points are discussed in this rebuttle: https://danheld.substack.com/p/dont-fear-tether The more alternatives to Tether the better, so long as they compete towards realizing transparency where it matters.

Tether is completely and utterly toxic to US banks. So much so that when they bought Noble bank in Puerto Rico, Noble was driven into bankruptcy because their US mainland correspondent bank cut them off instantly and absolutely nobody would touch the relationship. There was an entire saga with them trying to find a US correspondent bank, and getting shut down by each and every one, one at a time. I can say with total…

Big Alveis dos Reis energy: if you print enough money you can just buy yourself a bank and make yourself legitimate!

I wonder if Tether will hit $100bn before they go bang. I'm also reminded of how pyramid schemes took out the entire economy of Albania in the post-communism era ...

Re: Reserve – A flexible pool of stablecoins designed to reduce risk

#76

I want Monero but as a stable coin. Can someone just bring that out so we can have a crypto currency that is actually useful as a currency?

Monero is on its way to being delisted from all exchanges, and outlawed.

Pure propaganda with no evidence. Major exchanges like Kraken are still trading it even in USA.

Even if it were banned it would have little long-term impact. Literally impossible to stop decentralized swaps unless they also cripple BTC. it would be very powerful actually for people to realise how unstoppable it is.

Re: Reserve – A flexible pool of stablecoins designed to reduce risk

#77
post #71

> Crypto-as-money is still young. We have a lot to do. Do you remember Napster? Tether is kinda like Napster – it's taking off, people love it, it's a little sketchy, and it's probably not the design that will last. We don't want to make the equivalent of Kazaa – another blip in the history that ultimately doesn't ultimately work out. The challenge is to build a platform that's as robust as BitTorrent and as great to…

Don't you know the SV aristocracy are above the law? We can debate the law, we should, not following a law is also a choice. But disrupting laws as an ideology is eroding our ability to engage in meaningful social exchanges. The pipe dream that technology can absolve humanity from unavoidable need for trust and faith is perhaps improving our material situation in the short term. But human psychology is not easily aug…

It's worse than that: every reservoir of trust represents a resource that fraudsters can profit from destroying, like a rainforest. It's an opportunity to make money for themselves while gradually wearing down the rest of society and making it worse for everyone else. Just as the deliberate destruction of trust in politics leads to people storming the Capitol.

Re: Reserve – A flexible pool of stablecoins designed to reduce risk

#78
post #18

Earlier quoted context omitted.

> The only purpose of this currency is to enrich those who invented it. As is tradition in crypto. It's kind of implicit. [edit] I mean, think about this rationally. You're creating a new token, that doesn't have revenue, a business model, or any way of generating income. And yet it is "100% asset backed, and funded by top Silicon Valley investors." Those investors aren't in it for their health. They don't care about…

> How can you make an honest ROI if you don't have income? This seems like a very curious view of the world to me. Do you believe that people who buy houses and sell them at a profit 20 years later are dishonest?

It's certainly worth interrogating how a physical asset with real depreciation and maintenance costs goes up in value over time.

Re: Reserve – A flexible pool of stablecoins designed to reduce risk

#79
post #63

There are many confusions mixed with stereotypical startup culture in the first video. A global stable currency is not : - Dollarization, that is an already relatively common phenomenon (Zimbabwe, Argentina...) with controversial effects. Definitely not a silver bullet for hyperinflation. - A payment system, that requires to work tightly on UI/UX, on cultural preferences, to adapt to local infrastructure... Exactly t…

One hilarious thing about Tether is that it implicitly acknowledges that the dollar is the source of stability for unstable crypto, and that crypto needs to be "dollarised" to deal with its volatility.

Re: Reserve – A flexible pool of stablecoins designed to reduce risk

#80
post #73

Earlier quoted context omitted.

qualifying it with "certainly not at scale" tells me how far from the mark you are. "Scale" is not the point. Independence and resilience is.

if that's only for 10k libertarian tribes, then I guess it does a good job. Unfortunately the nice hardware and electricity grid actually needs a society to build and maintain. And these are much more people thank 10k libertarians. Just because it still pops up and noone responds to it at all. How many transactions can bitcoin handle nowadays? And how much energy does it consume again for that?!

> Unfortunately the nice hardware and electricity grid actually needs a society to build and maintain.

How much energy, money, human resources were spent already on research of, say, Fusion Energy? Has it produced anything close to being net-positive? Should we call it quits? Who gets to represent "society" to make such a call?

> How many transactions can bitcoin handle nowadays?

How many tons of cargo could the first airplanes carry?

Sorry for being flippant, but it gets tiring to get the same "argument" over and over and over again. Yeah, current implementation of the system is far from ideal. It needs work. It is being worked on. The fact that it is not it is the highest priority does not make undesirable. It just means that are other things that need to be worked on before we put more focus on these kind of optimizations.

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