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Bitreserve just dropped the mic (bitreserve.org)

CaptainCloudMoney が 投稿

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[–]Introshine 1ポイント2ポイント  (0子コメント)

BR deserves more love. Nice one.

[–]SatoshisGhost 1ポイント2ポイント  (1子コメント)

Convert and Exchange Money Absolutely for Free: Zero Cost. Zero Fees. Forever.

so, i think this is awesome, and bitreserve is doing great things. kudos to them! but in the same token, isn't bitreserve just doing offchain transactions, holding, and then dispersing using their own database? essentially they are a centralized org like western union or paypal passing data back and forth? i don't know a lot about them, so just curious who knows.

[–]Timbo925 1ポイント2ポイント  (0子コメント)

I don't think so. What they do is let you sell bitcoin for USD. Then they aggregate all sell/buy action from all users and make sure their books are balanced. To if much more BTC was sold, they need to sell some on the market to avoid the risk.

Sending value between your card is indeed an off chain transaction. But if you send bitcoin to somewhere else, it will over the bitcoin network.

[–]Devam13 1ポイント2ポイント  (4子コメント)

So how would bitreserve earn?

[–]CaptainCloudMoney[S] 1ポイント2ポイント  (3子コメント)

Don't know. They talk about investing their reserve in yield-bearing instruments in the longer term once they understand their liquidity needs. But just by becoming the hub of money flows on the internet and by holding trillions of value, they will be incredibly valuable. Google, Facebook, Snapchat, Uber-- none of those tech companies grew revenue as fast as users, most didn't even worry about revenue. Get huge and then monetize is the right path in tech seems to me.

[–]murbul 4ポイント5ポイント  (1子コメント)

You're an investor, and you don't know their revenue model?

[–]CaptainCloudMoney[S] 0ポイント1ポイント  (0子コメント)

Read what I wrote. Googles revenue generating plan evolved and I'm sure BRs will too.

[–]jeanduluoz 0ポイント1ポイント  (0子コメント)

Get huge and then monetize is the right path in tech seems to me.

It has been in the era of low yields, flight to risk and free credit. I.e. a good strategy during an investment bubble

[–]CaptainCloudMoney[S] 0ポイント1ポイント  (3子コメント)

This is incredible! Now if they only turn on fiat in/out, they will have taken a huge step forward toward becoming the central utility for the Internet of money. Go BR!

[–]gurglemonster 3ポイント4ポイント  (2子コメント)

The impartiality of your statements just shines through

[–]CaptainCloudMoney[S] -1ポイント0ポイント  (1子コメント)

I'm admittedly partial. Doesn't change fact that free forex and free remittance is a global finance game changer.

[–]murbul 4ポイント5ポイント  (0子コメント)

You're kind of overdoing it. It's cringey.

[–]BTCisGod 0ポイント1ポイント  (3子コメント)

Cheaper ways to short bitcoin? Oh Yeah!

[–]CaptainCloudMoney[S] 0ポイント1ポイント  (2子コメント)

You can trade all day. Currencies too. Forex trading is a trillion dollar market daily. Holy cow this is huge. I'm just getting my tiny brain wrapped around the implications of this.

[–]BTCisGod 0ポイント1ポイント  (1子コメント)

When I first saw a year ago the airbrushed photos of the 12 or 15 executives of that company I thought, this must be a joke, right? How much funds will you entrust with them? I know they did some PR about reserves, does it pass the smell test?

[–]CaptainCloudMoney[S] 0ポイント1ポイント  (0子コメント)

When I first heard their pitch, I invested. Now I'm glad I did. They've got vision (guy behind cnet and salesforce.com), management (airbrushed photos or not who gives a shit) and money. They innovate faster than anyone in the cloud money space. Ten times faster.

[–]breakup7532 1ポイント2ポイント  (5子コメント)

Edit: assuming their spot is calculated an average of the major exchanges, I stand corrected.

[–]CaptainCloudMoney[S] 1ポイント2ポイント  (4子コメント)

Easy tiger. I don't work for BR. I'm just a BR Series B investor. But to answer your question, which you could answer for yourself if you just pulled your head out of your rectum and looked at their FAQ, they use the spot rate. That means no spread at all. Spot is mid-market price. Who gives a shit if they like bitcoin or don't like bitcoin-- they just made bitcoin free to exchange to USD and back. They are a hugely valuable part of the bitcoin ecosystem whether they like BTC or hate it.