Social Hand Grenade

Crypto Mobster & Operation Crypto

"Someone, who when out with friends at a social gathering could ‘go off’ at any time and cause complete and utter chaos to what was a well-conducted evening." This is the aim of this podcast. to cause complete and utter chaos. Talking through main life talking points of the week, whether it being good or bad, in a 45-minute slot that could be completely chaotic or make you belly laugh. read less
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Episodes

Reserve Rights (RSR) Does This Get Top Marks? A Solid Banker?
Nov 8 2020
Reserve Rights (RSR) Does This Get Top Marks? A Solid Banker?
What Is Reserve Rights (RSR)?Reserve Rights is a dual-token stablecoin platform that was launched in May 2019 following a successful initial exchange offering (IEO) on the Huobi Prime platform.Reserve Rights’ dual token setup includes a stablecoin known as the Reserve stablecoin (RSV) — which is backed by a basket of assets managed by smart contracts. The second token is the Reserve Rights token (RSR), which is used to keep the RSV stable at its $1.00 price target through a system of arbitrage opportunities.Unlike RSV, the Reserve Rights (RSR) token is volatile, and its main purpose is to help maintain the stability of RSV. It can also be used to vote on governance proposals — helping holders shape the future of the Reserve Rights ecosystem.In the later stages of the project, Reserve Rights plans to back the Reserve stablecoin by an increasingly diverse basket of assets, and eventually move it away from the U.S. dollar peg — instead creating an alternative reserve asset where RSV tokens instead represent fractional ownership of the collateral pool.Who Are the Founders of Reserve Rights?Reserve Rights was co-founded by Nevin Freeman and Matt Elder. Freeman is Reserve's CEO and a seasoned entrepreneur. He describes his life goal as "solving the coordination problems that are stopping humanity from achieving its potential."Matt Elder, on the other hand, is an experienced engineer who previously worked for Google and Quixey, and now works to oversee the architecture of the Reserve protocol implementation as the project’s CTO.Since its launch in 2019, the Reserve team has grown considerably, and now includes more than two dozen individuals, which includes engineers, developers, and legal and compliance staff — all unified under the shared ambition to position Reserve as an open, massively scalable stablecoin that promotes economic prosperity.What Makes Reserve Rights Unique?Unlike other stablecoins that are typically backed by U.S. dollars (USD) held in reserve in a bank account controlled by the stablecoin issuer or a trusted custodian, Reserve stablecoins are backed by a basket of cryptocurrencies managed by smart contracts.This basket initially consists of Ethereum stablecoin assets, including USD Coin (USDC), True USD (TUSD) and Paxos (PAX), but there are plans to later transition to a more diverse basket, which might eventually include fiat currencies, securities, commodities and complex asset types, like synthetics and derivatives.Arguably Reserve's major defining feature is its Reserve Rights token, which is minted and sold when the RSV stablecoin loses its peg with the U.S. dollar. The funds generated by selling RSR tokens are used to replenish the RSV collateral pool, whereas when RSV is valued at above $1, the additional collateral will be used to purchase and burn RSR from the secondary market, driving down the supply.
Will XRP Be The Standard Of Cryptocurrency?
Oct 19 2020
Will XRP Be The Standard Of Cryptocurrency?
The first thing to know is that Ripple is both a platform and a currency. The Ripple platform is an open source protocol which is designed to allow fast and cheap transactions.Unlike Bitcoin that was never intended to be a simple payment machine, Ripple is definitely going to rule all the international transactions worldwide. Pretty ambitious, but who knows? Maybe currency exchanges will disappear in a few years like Blockbuster stores did.The platform has its own currency (XRP) but also allows everybody to use the platform to create their own via RippleNet.What is RippleNet?RippleNet is a network of institutional payment-providers such as banks and money services businesses that use solutions developed by Ripple to provide a frictionless experience to send money globally.Let’s give an example: Firstly, Mr. Jones lives in New York and has a chocolate box he doesn’t need. He is very interested to watch a baseball game, but doesn’t have a ticket. Secondly, Ms. Smith lives in Los Angeles and has a rare stamp she would like to give away for a chocolate box. Lastly, we have Mr. Brown who lives in Alaska and is looking very much for a rare stamp, and he a ticket for a baseball game in New York.In our current system, these people would probably never find each other and remain with their ‘not valuable’ valuables.But in Ripple world they could say: “Hey, I have chocolate, I want baseball” and the system will look for a shortest and cheapest combination to make it happen.