Topic: An alternative to tether? (Read 517 times)
There are so many stable coins at the moment and there are tons of alternatives. I do not like Tether and I am waiting for another stable coin that is currently on its ICO phase. But you can use TrueUSD, USDC, ROCKZ. They are all great and could be used on a daily basis.
Tether is one very good and most popular stable coin and i guess there's already a lot of stable coin in market like TrueUSD and USDC.
Hi there! I am on my last year of my computer engineering degree and I have been thinking about creating a coin for my bachelor thesis.
My idea is to make something very similar to tether where every coin would always be redeemable for $1. Every coin would be backed by a dollar in a bank account which balance could be viewed by everyone 24/7.
In order to convert the coin to dollars users would have to send their coins to an address where coins would be destroyed.
I could charge 0.25% for every transaction which would be then distributed between the miners or not charge anything and process all the transactions on a personal server.
I currently do not have a lot of knowledge about cryptocurrencies and would appreciate your feedback. I was thinking of building it using the multichain platform since both the bitcoin and ethereum ecosystems would increases transaction costs.
My idea is to make something very similar to tether where every coin would always be redeemable for $1. Every coin would be backed by a dollar in a bank account which balance could be viewed by everyone 24/7.
In order to convert the coin to dollars users would have to send their coins to an address where coins would be destroyed.
I could charge 0.25% for every transaction which would be then distributed between the miners or not charge anything and process all the transactions on a personal server.
I currently do not have a lot of knowledge about cryptocurrencies and would appreciate your feedback. I was thinking of building it using the multichain platform since both the bitcoin and ethereum ecosystems would increases transaction costs.
I've seen coins coming up similar to Tether but not active, common or on any major exchange.
It's going to be pretty difficult to meet up to Tether.
Try the USD backed stable coins.
Tether is the most reliable stablecoin out there. Other options are not that safe (such as True USD and Paxos).
In my opinion it may be the most used, not reliable. The first created stable currency was tether, and it has started to grow as time goes by, because there was not a strong rival. When it was first created, if there were USD backed stable currencies as today, it could not develop as it is today. I don't think you should purchase tether honestly. It has a lot of fishy behavior behind it and the team. If you must use it, just use it to temporarily offset drops in BTC or ETH and buy back in. There's no point in holding tether and honestly I'd consider it dangerous to say the least.
Tether is the biggest stable coin in the cryptocurrency market at the moment, and I think only USDT is worth to buy in all stablecoins. So that you should use it to avoid losing the money when the market goes down the next time.
Alternatives for USDT is many nowadays, you need to check the any trading sites and check the available conversion for your flexibility. TUSD, USDC and Gemini dollar are my picks if I am not going to use tether.
There is no problem to use any of this coins because these all coins are for stable coin list only.
There is no problem to use any of this coins because these all coins are for stable coin list only.
that was a good idea. buy do you have a large amount on your bank account to back up the coin you are up to?
anyway, theres a lot of coins now that is alternative to tether. there's TrueUSD , USDCoin , GeminiDollar.
anyway, theres a lot of coins now that is alternative to tether. there's TrueUSD , USDCoin , GeminiDollar.
Tether is the most reliable stablecoin out there. Other options are not that safe (such as True USD and Paxos).
Hi there! I am on my last year of my computer engineering degree and I have been thinking about creating a coin for my bachelor thesis.
My idea is to make something very similar to tether where every coin would always be redeemable for $1. Every coin would be backed by a dollar in a bank account which balance could be viewed by everyone 24/7.
In order to convert the coin to dollars users would have to send their coins to an address where coins would be destroyed.
I could charge 0.25% for every transaction which would be then distributed between the miners or not charge anything and process all the transactions on a personal server.
I currently do not have a lot of knowledge about cryptocurrencies and would appreciate your feedback. I was thinking of building it using the multichain platform since both the bitcoin and ethereum ecosystems would increases transaction costs.
Actually now a lot of stablecoin on the market, and of all of them I like usdc, it is well established and has passed all the checks from the United States My idea is to make something very similar to tether where every coin would always be redeemable for $1. Every coin would be backed by a dollar in a bank account which balance could be viewed by everyone 24/7.
In order to convert the coin to dollars users would have to send their coins to an address where coins would be destroyed.
I could charge 0.25% for every transaction which would be then distributed between the miners or not charge anything and process all the transactions on a personal server.
I currently do not have a lot of knowledge about cryptocurrencies and would appreciate your feedback. I was thinking of building it using the multichain platform since both the bitcoin and ethereum ecosystems would increases transaction costs.
I don't think you should purchase tether honestly. It has a lot of fishy behavior behind it and the team. If you must use it, just use it to temporarily offset drops in BTC or ETH and buy back in. There's no point in holding tether and honestly I'd consider it dangerous to say the least.
In this moment I know the only project which has passed audit , and have which I think can compete with usdc , Ah and so for me 2 coin good
Right now there is a glut of stable coins tied to the USD. GeminiUSD is a trusted stablecoin which has passed the regulations test, and there is the USDT whcih is popular on exchanges. There needs to be other coins tied to different currencies for traders outside of the influence of the US dollar
I just hope you didn't go ahead with all mentioned in this post that you will do. Your priority should something of more value offline because I don't see where you get the funds to implement these. Unless, just may be your parents or ward is that wealthy.
I do not think that there are so serious projects that can so seriously manipulate the market as the USDT. Few people understand why the USDT is created at all and how the altcoins pumping works, therefore, in general, buying BTC for expensive altcoins is a very smart step.
I don't think people will accept your stable coin because their are a couple of stable coin backed by usd in the market. One which has mentioned by you. Other than tether, there are USDC, TRUEUSD and some more possibly. So, you have no place there if you come up with innovative idea. Good luck.
Do you have any update on what phase you are now with this project you've come up with?
Those who have been suggesting another type of stablecoin, read the whole context.
Those who have been suggesting another type of stablecoin, read the whole context.
Here's a complete list of stablecoins:
https://coincodex.com/stablecoins/
https://coincodex.com/stablecoins/
I agree, many alternatives to Tether is a good thing. I did see Tether had a "lawyer" look at their bank accounts on June 1st. Doesnt' mean much to me though
Hi there! I am on my last year of my computer engineering degree and I have been thinking about creating a coin for my bachelor thesis.
My idea is to make something very similar to tether where every coin would always be redeemable for $1. Every coin would be backed by a dollar in a bank account which balance could be viewed by everyone 24/7.
In order to convert the coin to dollars users would have to send their coins to an address where coins would be destroyed.
I could charge 0.25% for every transaction which would be then distributed between the miners or not charge anything and process all the transactions on a personal server.
I currently do not have a lot of knowledge about cryptocurrencies and would appreciate your feedback. I was thinking of building it using the multichain platform since both the bitcoin and ethereum ecosystems would increases transaction costs.
My idea is to make something very similar to tether where every coin would always be redeemable for $1. Every coin would be backed by a dollar in a bank account which balance could be viewed by everyone 24/7.
In order to convert the coin to dollars users would have to send their coins to an address where coins would be destroyed.
I could charge 0.25% for every transaction which would be then distributed between the miners or not charge anything and process all the transactions on a personal server.
I currently do not have a lot of knowledge about cryptocurrencies and would appreciate your feedback. I was thinking of building it using the multichain platform since both the bitcoin and ethereum ecosystems would increases transaction costs.
Someone needs to come up with tether alternatives to re-distribute the potential loss of a tether breakdown. If we have "many tethers" then if one collapses, it wouldn't be such of a big deal, but meanwhile, the tether risk keeps growing. And one could say, "who cares about tether, let it crash", but this is delusional, there will always be a demand of a virtual gateway for the dollar.
If you make a tether alternative, improve on the current tether problems, make the account holdings public etc, otherwise everyone will think it's another scam. Tether has been audited and this makes it's credibility very low. I understand how difficult it is to run such a service tho.
Posted one and didn't came back. I bet he wont be reading any comments here anymore.
Or he could have been pulled by some ICO already to try how much of an expert is him.
But still why want to create something like Tether? It is like an escape pod for whales and you are just helping them.
It could be one of the reason why value of every coin and tokens have been dropping cause whales can now play in and out using Tether.
Don't like the idea. Go to bitcoin platform instead.
Or he could have been pulled by some ICO already to try how much of an expert is him.
But still why want to create something like Tether? It is like an escape pod for whales and you are just helping them.
It could be one of the reason why value of every coin and tokens have been dropping cause whales can now play in and out using Tether.
Don't like the idea. Go to bitcoin platform instead.
I understand what you're saying but for crypto to become mainstream, it HAS to apply to the real world. No one is accepting BTC because it's too volatile.
I disagree about whales, they can easily cash out to fiat (there's $billions being traded in OTC) if they want. But it's the average investor that is stuck if they want to take their gains out to actually use them for something because coinbase limits them to $1000 a day!
A solid stablecoin helps everyone because it brings more credibility and use to blockchain. People can use the stablecoin for real world payments, and invest in BTC as a store of value/inflation hedge etc
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