Topic: An alternative to tether? - page 2. (Read 517 times)

good analytical program for a crypto, I think this is a serious problem when the potential for tether damage, a good and perfect system, will produce good results, so there is no scam and harm to others who use. both in the area of fee and over time in the transaction.

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.

Here is an excellent stabelcoin, fully redeemable in and out of $USD as well as BTC, ETH and XLM

http://www.businessinsider.com/elizabeth-white-crypto-white-standard-cryptocurrency-lamborghini-2018-6

i strongly advise its QTUM, because its one of the strong coin in the cryptocurrency market, it has huge potential to grow. I would advise to hold it for long term rather for short term. Its super Altcoin for long term.

Yes but those exchange based so they're not worth anything. If the exchange goes down you are screwed (like the USD token on Circle/Poloniex). The cryptobank is interesting but again they have to be backing the dollar, euro etc with something otherwise it's not worth anything.

The KEY part of a stabelcoin is being able to REDEEM it into the underlying currency. If you can't do it, it's not worth anything and there's no way I am putting my cash/savings/investments into it

With the relative sucess of tether, almost every exchange are coming up with price linked crypto. There's even a so called decentralized bank called cryptobank that is issuing dollar, euro, yuan, ruble and others in crypto.

Well, technically you should be buying the stabelcoin when the market is UP (to protect your gains) and then buy cryptos with your stablecoin when the market is down (and ride it back up).

The TrueUSD project is decent attempt to replace Tether but there's a few problems

1) It's built on ERC-20 which is just too slow for modern payments and processing. It's maybe ok on a few exchanges as a "cash" option but that's about it. Not useful to send payments to others, not useful for merchant processing etc

2) TrueUSD has not actually published any reports of their holdings. They keep saying they are fully audited and transparent but yet I have no idea where and how much actual $USD they are holding on deposit. While it doesn't mean it's a fraud by any stretch, it's not a good start for them to be at $43 million market cap and still not a single published report/audit

I agree that more exchanges will offer direct fiat exchange over time. But it will not be anytime soon because the regulations are very complex.

In the meantime, there absolutely is a need for an alternative because Tether simply does not have the $USD on deposit. They are about to fall apart any day because the CFTC IS investigating them: https://www.bloomberg.com/news/articles/2018-05-24/bitfinex-said-to-find-bank-in-puerto-rico-after-wells-fargo-exit

A very key phrase here:  "The regulator is investigating whether Tether’s $2.1 billion in customer money backing its virtual coin is really there, a person familiar with the matter said in January."

What will happen soon is that Tether will fall apart and be worth $0. However I do not think at all this will cause the price of BTC to fall. While it's true that upwards pressure on BTC price may have been due to fake Tether's buying, unless someone is buying BTC ON MARGIN with Tether, the fact that your Tether holdings go to 0 does not really affect BTC price, in fact people will have to put whatever amount of Tether they are selling into something, and it will most likely be into BTC. There certainly may be a temporary FUD scare and a drop also, but no one will be selling BTC long term just because of Tether.

Why is a cryptocurrency backed by $USD important? Simply because you can make fast, virtually free transactions to anyone in the world. Normal $USD payments are slow, expensive and full of unncessary regulations (banks routinely shut down accounts that send a lot of wires in or out, even if it's a fully legitimate business collecting customer money and paying vendors). Cryptocurrency eliminates all that but no one can do real business in BTC right now, so the need for a stablecoin crypto is clearly there.

Sometimes people say "Oh your project needs to revolutionize the world. I think that's completely false. It just needs to be doing something better, simpler, faster and/or cheaper.

I have heard about a project called True USD or TUSD. As I understood correctly, they will be listed on major exchanges as a currency against others. For example, maybe on Binance we will see such a pair: BTC/TUSD. I bought some TUSD when the market was falling

to be the next coin of the Tether is a coin that has the development as well as the right price brought Tether like IOTE. because IOTA itself is a good coin that can follow the development of Tether. so this coin can be said as the next coin for IOTA in the future.

You have a noble idea,creating a stable coin that beats the limitation of the current types will be worthwhile.Tether is rigged with a lot of controversies while the others have not gained much acceptance e.g havven

I don't think we need an alternative for tether. First thing firet if you don't have unique aspect that differentiate your project from tether, than your project is not necessary. Second, more exchange are offering direct real fiat exchange, and soon all exchange will do the same, and stable coins like tether will be left.

There is in fact an altnernative to Tether that is launching very soon. It is built on Stallar, which is fast, cheap and secure. It will hold 100% USD for each stabelcoin issued (1:1) ratio and by fully redeemable anytime. Most importantly it will allow UNLIMITED buying or selling with FIAT for anyone (subject to a KYC/AML check of course obviously if they are trustworthy they must comply with the law)

Well, bank (if allows you) would take few days using Swift and will cost you a solid amount of fees in most cases. Using Western Union? Massive fees.

Crypto? If it's the right one, takes few seconds to wire anywhere in the world and fees are barely to none.

Can we agree ?

It depends on which 3rd world country you live in, if a coin with very low fee and instant transaction is listed on a local exchange, you can buy it with $ and send it to europe or us. As it is local exchange you probably deposit your money with no fee through your bank account?

Please show me how you transfer $ fiat from 3rd world country to your client or vendor in Europe or US within 3 -8 seconds with barely to no fees?

Fiat money is an alternative   

The bettet alternative that also benefits from enterprise grade performance could be also kUSD by http://Kowala.tech plus it is decentralized and mine-able.

That's my opinion at least to the tether USDT alternative.

A coin that unites all the positive sides of bitcoin and Ethereum will definitely be something revolutionary, I do not have such deep knowledge in the crypt but I wish u good luck with your project!

Maybe it's because Tether is under scrutiny now, but I'm seeing more and more so called stablecoins. If you just look up that term you'll find a lot of information.

By the way I think 0.25% is an excessive transaction fee. Imagine how much $1 million worth of your stablecoin costs just to move it.