So, after I read this comment I left thinking that Reserve performed exceptionally poorly, but it seems that almost all cryptocurrencies have gone down about the same amount since June 19th (the time of Reserve’s launch, from what I can tell). Here are some random currencies that I clicked on, on the coinmarketcap website that you linked. This is a comprehensive list, so I report the price change since June 19th for every currency that I looked at:
Bitcoin Cash:
June 19th price: $416
Price now: $244
Change: −41.3%
XRP:
June 19th price: $0.448
Price now: $0.25
Change: −44.1%
Litecoin:
June 19th price: $135
Price now: $55
Change: −59.2%
Monero
June 19th price: $100
Price now: $58
Change: −42%
You are also incorrect that Bitcoin has returned 1% over the same time period. On June 19th, the price of Bitcoin was $9273, and it now is $8027. So while you are correct that Bitcoin went down significantly less than Reserve, it performed drastically better than almost all other cryptocurrencies, and still went down by about 13%.
I don’t think Reserve is overall a super great idea, but I think the statistics you cited seem misleading to me, and it seems that Reserve overall is performing similarly to the rest of the non-Bitcoin crypto-market.
after I read this comment I left thinking that Reserve performed exceptionally poorly but..
Your initial impression was correct. Reserve has entered a terrible market and managed to perform substantially worse than its terrible competitors. Since May 24, when Reserve Rights was priced:
You are also incorrect that Bitcoin has returned 1% over the same time period.
Reserve Rights was floated on May 24 according to CoinMarketCap, at which time Bitcoin was worth $7800-$7950, and it is now worth the same amount, so the error must be either with you, or with CoinMarketCap.
I used Jun 19th, because that was the first date with a market cap available, which seemed like the most reasonable date to start. So that likely explains the discrepancy.
I also don’t know much about it, but I think Reserve includes a couple of coins. ‘Reserve Rights’ is not intended to be a stablecoin (I think it is meant to perform some function for the stablecoin system, but I’m ignorant of what it is), whilst ‘Reserve’, yet to be released, is meant to be stable.
Reserve has now lost 50.6% of its value since its float, while Bitcoin has returned ~1% over the same time period.
So, after I read this comment I left thinking that Reserve performed exceptionally poorly, but it seems that almost all cryptocurrencies have gone down about the same amount since June 19th (the time of Reserve’s launch, from what I can tell). Here are some random currencies that I clicked on, on the coinmarketcap website that you linked. This is a comprehensive list, so I report the price change since June 19th for every currency that I looked at:
Bitcoin Cash:
June 19th price: $416
Price now: $244
Change: −41.3%
XRP:
June 19th price: $0.448
Price now: $0.25
Change: −44.1%
Litecoin:
June 19th price: $135
Price now: $55
Change: −59.2%
Monero
June 19th price: $100
Price now: $58
Change: −42%
You are also incorrect that Bitcoin has returned 1% over the same time period. On June 19th, the price of Bitcoin was $9273, and it now is $8027. So while you are correct that Bitcoin went down significantly less than Reserve, it performed drastically better than almost all other cryptocurrencies, and still went down by about 13%.
I don’t think Reserve is overall a super great idea, but I think the statistics you cited seem misleading to me, and it seems that Reserve overall is performing similarly to the rest of the non-Bitcoin crypto-market.
Your initial impression was correct. Reserve has entered a terrible market and managed to perform substantially worse than its terrible competitors. Since May 24, when Reserve Rights was priced:
the S&P gained 14%,
cryptocurrency at large lost 17%,
cryptocurrencies excluding Bitcoin lost 33%,
while Reserve Rights managed to lose 52.3%.
Reserve Rights was floated on May 24 according to CoinMarketCap, at which time Bitcoin was worth $7800-$7950, and it is now worth the same amount, so the error must be either with you, or with CoinMarketCap.
I used Jun 19th, because that was the first date with a market cap available, which seemed like the most reasonable date to start. So that likely explains the discrepancy.
I don’t know much about it, but isn’t Reserve meant to be a Stablecoin? If so any change in value seems significantly worse than for other coins.
I also don’t know much about it, but I think Reserve includes a couple of coins. ‘Reserve Rights’ is not intended to be a stablecoin (I think it is meant to perform some function for the stablecoin system, but I’m ignorant of what it is), whilst ‘Reserve’, yet to be released, is meant to be stable.
Huh, do you know what ‘Reserve Rights’ does / why it exists?
Is there a short explainer of it somewhere?