Anyone working on any ideas for stable coins?

awakpane

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Quote from: cichaescut on December 03, 2019, 07:59:05 AM

Stable coins is a payment alternative for regular payment options. There are already so much crypto currencies, especially stable coins that have absolutely no use case. It would be much better to finally develop a working altcoin.

You must not misinterpret it. the purpose of a stable coin is a coin whose price is basically stable on nerves. and the volume increases. indeed to measure the extent to which a coin is stable is rather difficult. but at least we can see in terms of graphics and turnaround in the market.

VSYNC_

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Quote from: mirgo1791 on December 03, 2019, 08:40:47 AM

as one with works of developer gains of popularity the service might helps on reference of growth on value with the token price and collects as drawing gives with contrast of shifts on chance as collecting returns on investment.

This comment is clearly created by a bot. This is a selection of random words with "of", "as", "and" and "with" in between them

mirgo1791

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as one with works of developer gains of popularity the service might helps on reference of growth on value with the token price and collects as drawing gives with contrast of shifts on chance as collecting returns on investment.

CarnagexD

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Quote from: alrose on November 30, 2019, 05:44:43 AM

USDT is currently the best stable coin.It is included in many currency pairs and is secured by $.Why reinvent the wheel if it already exists!).There are enough stablecoins now, so it seems to me there is no point in creating a new stable coin.

No doubt with USDT as it is pegged to dollar for 1:1 and other fiat currency equivalent. But as of now, I haven't read or know yet any projects that will ensure stable coin's use. I guess stable coins are already in place for being a safe haven for the market, that would do for now but if there will be any idea to work with stable coins in efficient way that would be great in general.

cichaescut

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Stable coins is a payment alternative for regular payment options. There are already so much crypto currencies, especially stable coins that have absolutely no use case. It would be much better to finally develop a working altcoin.

efxtrader

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Quote from: Aabcde on November 30, 2019, 11:19:21 PM

I do not want it.
If we look at stablecoins that have been circulating, a lot of them. What I'm still confused about is why should there be another stable coin if the function is only to secure assets? only 3-5 stablecoin is enough.
On the other hand, stable coins must be backed up with FIAT or valuable commodities such as gold, which must be in large quantities. If we want to talk or develop a stable coin without the above, forget it. There you will only make scam coins.

There are many stable coins on the market for several reasons, one of which is a company that issues stable coins. Every company that wants to issue stable coins must have a dollar in the bank as a back up. In addition, some stable coins use a different network, some use a BNB chain and some use an Ethereum chain.

ðºÞæ

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Quote from: VSYNC_ on December 03, 2019, 06:22:43 AM

Quote from: BigBoy89 on December 02, 2019, 04:48:08 PM

Quote from: [email protected] on December 02, 2019, 07:53:10 AM

stable coins can not be much, in theory. Of course, you can try to create them, but 1 out of 1000 will stand.
And a coin can only be stable if it has very big support, big capital
the market is very volatile

Stable to what? Stablecoins are called that because they are supported with their fiat equivalent. They are not stable to the general market. Stablecoins are stable to the fiat they are paired to...

A coin paired with USD could not be called RUB stablecoin as RUB is volatile to USD.

Not necessarily. Stable coins don't have to be collateralized.

Thats right just made up fantasy numbers (rings some kind of bell).

VSYNC_

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Quote from: BigBoy89 on December 02, 2019, 04:48:08 PM

Quote from: [email protected] on December 02, 2019, 07:53:10 AM

stable coins can not be much, in theory. Of course, you can try to create them, but 1 out of 1000 will stand.
And a coin can only be stable if it has very big support, big capital
the market is very volatile

Stable to what? Stablecoins are called that because they are supported with their fiat equivalent. They are not stable to the general market. Stablecoins are stable to the fiat they are paired to...

A coin paired with USD could not be called RUB stablecoin as RUB is volatile to USD.

Not necessarily. Stable coins don't have to be collateralized.

BigBoy89

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Quote from: [email protected] on December 02, 2019, 07:53:10 AM

stable coins can not be much, in theory. Of course, you can try to create them, but 1 out of 1000 will stand.
And a coin can only be stable if it has very big support, big capital
the market is very volatile

Stable to what? Stablecoins are called that because they are supported with their fiat equivalent. They are not stable to the general market. Stablecoins are stable to the fiat they are paired to...

A coin paired with USD could not be called RUB stablecoin as RUB is volatile to USD.

Amel

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Quote from: crustycrab666 on December 01, 2019, 05:38:41 AM

Quote from: Malam90 on November 30, 2019, 03:21:11 AM

A stable coin needs huge financial backed up, popularity and acceptance in the cryptoworld even in the few countries. Development is not very vital here. You can find more then 3000 coins are already in the market but stable coins are only handful turn.

That's right, and if the developer doesn't have enough power it will be difficult to reach the target. The most difficult thing is to form a market capacity that is much influenced by investor confidence and a wide network. Most people are also more interested in unstable coins or tokens to maximize the chance of volality.

Maybe only a group of whales can build new stable coins, because for development we need huge capital. Not only that, the development of new coins must also be based on innovative goals which can later increase investor confidence, if only making carelessly then the coins will compete with other coins of the same because new innovations are needed towards the foundation of goals.

VSYNC_

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Quote from: [email protected] on December 02, 2019, 07:53:10 AM

a coin can only be stable if it has very big support, big capital

What about algorithmic stable coins with no collateral? Do you think that they can't work as they should and that only holding a large amount of USD is possible to stabilise a cryptocurrency?

[email protected]

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stable coins can not be much, in theory. Of course, you can try to create them, but 1 out of 1000 will stand.
And a coin can only be stable if it has very big support, big capital
the market is very volatile

VSYNC_

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Quote from: bitvalak on November 30, 2019, 02:11:27 PM

Quote from: VSYNC_ on November 29, 2019, 07:02:12 PM

Anyone trying to develop new kinds of stable coins? Was thinking of setting a group up to discuss ideas, learn collectively and pool resources. Any interest?

What stable do you mean? Stable price or stable development?

Stable price is what people are talking about when they say "stable coins".

VSYNC_

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Quote from: ðºÞæ on December 01, 2019, 05:56:21 AM

Stablecoins have a expected life expectancy of 10 years or less. 2-3% value loss (inflation) per year is not long term viable.

Where is the scientific report saying that stablecoins have a life expectancy of 10 years or less? You can't just make a statistic up and then pretend it's a fact.

Quote from: awakpane on December 01, 2019, 06:05:04 AM

In my opinion it's hard to get a stable coin. sometimes what is targeted with a good concept but in the end the price is not stable. everyone hopes to get a stable coin.

People get hung up on the term "stable" like if a stable asset isn't perfectly pegged to another currency then it's a failure. Ignore the term, and focus on the purpose of the asset - to provide something that is reasonably non-volatile to be able to hold over the medium and long term without losing large amounts of value in the process (in relativity to whichever assets it's pegged to).

If Tether oscillates between -1% and +1% of the value of USD, does that mean it's perfectly stable - nope. Is it functionally useful as a stable asset - yep.

awakpane

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In my opinion it's hard to get a stable coin. sometimes what is targeted with a good concept but in the end the price is not stable. everyone hopes to get a stable coin.

ðºÞæ

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Stablecoins have a expected life expectancy of 10 years or less. 2-3% value loss (inflation) per year is not long term viable.

crustycrab666

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Quote from: Malam90 on November 30, 2019, 03:21:11 AM

A stable coin needs huge financial backed up, popularity and acceptance in the cryptoworld even in the few countries. Development is not very vital here. You can find more then 3000 coins are already in the market but stable coins are only handful turn.

That's right, and if the developer doesn't have enough power it will be difficult to reach the target. The most difficult thing is to form a market capacity that is much influenced by investor confidence and a wide network. Most people are also more interested in unstable coins or tokens to maximize the chance of volality.

VSYNC_

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Quote from: Aabcde on November 30, 2019, 11:19:21 PM

I do not want it.

I was only asking if anyone wanted to create a group to discuss stable coin mechanics, not whether you would like there to be new stable coins created.

Quote from: Aabcde on November 30, 2019, 11:19:21 PM

If we look at stablecoins that have been circulating, a lot of them. What I'm still confused about is why should there be another stable coin if the function is only to secure assets? only 3-5 stablecoin is enough.

There's not 3-5, there's dozens that are functional and even more that are being developed currently.

Quote from: Aabcde on November 30, 2019, 11:19:21 PM

On the other hand, stable coins must be backed up with FIAT or valuable commodities such as gold, which must be in large quantities.

No, as I already mentioned they don't need to be backed by anything. There are 4 categories of stable coins currently - fiat-collaterialized, crypto-collaterialized, non-collaterialized, and algorithmically-managed. Two of those categories don't require collateralization.

Quote from: Aabcde on November 30, 2019, 11:19:21 PM

If we want to talk or develop a stable coin without the above, forget it. There you will only make scam coins.

If algorithmic stable coins are destined to all be scam coins, why did Basis receive over $100m in funding from the top crypto venture capital firms with their model being 100% without collateral? Do some research so you can form more accurate opinions and contribute something of value to discussions that require complicated thinking.

Aabcde

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I do not want it.
If we look at stablecoins that have been circulating, a lot of them. What I'm still confused about is why should there be another stable coin if the function is only to secure assets? only 3-5 stablecoin is enough.
On the other hand, stable coins must be backed up with FIAT or valuable commodities such as gold, which must be in large quantities. If we want to talk or develop a stable coin without the above, forget it. There you will only make scam coins.

BigBoy89

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Quote from: naikturun on November 30, 2019, 11:43:18 AM

Quote from: BigBoy89 on November 29, 2019, 10:46:31 PM

Quote from: VSYNC_ on November 29, 2019, 07:02:12 PM

Anyone trying to develop new kinds of stable coins? Was thinking of setting a group up to discuss ideas, learn collectively and pool resources. Any interest?

Not really.

Stablecoins requires huge real-world finance backups, not extensive development. And the market is already flooded with enough, with only stableDollar coins being successful. I don't see any volume on any stable Euro/GBP, so even these are not valid niches.

Are you sure all stablecoin are in backup by real money in the real world with equal or even bigger amount, tether USDT has a great daily volumu which is even the greatest volume today in the CMC (17billion $)
So does the project have real money backups?

Well, at least this is the idea behind the stablecoins - being backed up with the fiat equivalent.

You are mistaking Daily Volume with Coins in Circulation...

Tether Market Cap is 4,104,998,322 USD
While the volume is 19,132,947,703 USD

This mean Tether need to have in a real bank account 4,104,998,322 USD or close, not 19,132,947,703 USD.
There are some controversies about Tether and backing with fiat, so I'm avoiding it in favor of the USDC and TUSD.

Topic: Anyone working on any ideas for stable coins? (Read 551 times)