Topic: Circle and Coinbase are partnering to improve the stablecoin concept - page 2. (Read 456 times)
October 26, 2018, 10:33:15 AM
There has been some stablecoins appearing lately. Most of them are not doing so good. We are waiting for a better and improved one. I think this partnership might be able to do that.
October 25, 2018, 10:58:55 PM
Hopefully it'll be better than what Bitfinex and Tether. You can't do worse than what Bitfinex did with their no audits, no checks and randomly pump up the USDT whenever they felt like it. Better than tether for obvious reasons but it'll stick lack in some aspects as it'll have a lot of restrictions, a lot more than tether has as it is being created by US companies. But before jumping the gun let's see how it turns out.
October 25, 2018, 10:35:24 PM
What are your thoughts about it? Will it be success? Will it fit all users' needs?
I'm not sure of the success cause in the end it'll be a centralised coin, will they be able to do a better job than Tether definitely yes. It's pertinent to note that Coinbase is subjected to the strict laws of USA which makes it mandatory for them to get KYC done, and if and when they're compelled to give out users data, they'll give it so knowing all that I'm not comfortable in investing in this coin. However I feel people who invest can be assured there will be audits, all pumps would be checked and rules would be followed which might be liked by some, but I'm not a big fan of centralised coin.
October 25, 2018, 10:32:12 PM
Hi we've got the same topic posted already, earlier than this post.
Thread link - Coinbase adds Circle's USDC stablecoin
Thread link - Coinbase adds Circle's USDC stablecoin
October 24, 2018, 10:51:16 PM
it will be better than Tether for obvious reasons but it will still be a terrible thing to use and more importantly it will not be able to compete with Tether because it will surely possess a lot of restrictions, a lot more than Tether has because it is being created by US based companies such as Coinbase which are not only following the restrictive rules of US but also are working with 3 letter agencies trying to take control of the flow.
for starters when an altcoin exchanges adds tether without KYC they will be forced to force KYC if they add this new coin.
for starters when an altcoin exchanges adds tether without KYC they will be forced to force KYC if they add this new coin.
October 24, 2018, 02:07:20 PM
I wonder why so many stablecoins appeared lately. Why did they not begin to create them even earlier. I think it looks strange.
when a token is 1:1 pegged to a fiat it was meant to then be treated as fiat(earlyday fear of counterfeit laws and stuff)
EG paypals balance is not bank balance but a database token pegged as same as bank balance. requiring paypal to get lots of regulatory stuff..
now loads of crypto businesses have the regulatory stuff via their fiat exchanging process, they suddenly realise they can make their fiat database balance be a DLT or blockchain token instead
October 24, 2018, 01:32:03 PM
I wonder why so many stablecoins appeared lately. Why did they not begin to create them even earlier. I think it looks strange.
October 24, 2018, 12:47:08 PM
better than tether but still centralised and requires trust
not ideal but better than we have
I've been looking at other decentralised approaches that can not give such rigid price guarantees but is decentralised trustless and transparent. Bitbay is my current fav.
not ideal but better than we have
I've been looking at other decentralised approaches that can not give such rigid price guarantees but is decentralised trustless and transparent. Bitbay is my current fav.
October 24, 2018, 04:44:14 AM
I'm pretty certain that the "idea" will be executed better/more transparent by Coinbase than that it will be by Bitfinex & Co.
I mean you literally can't do it worse than Bitfinex did.
They allowed no audits, no checks, and they just pumped up random USDT whenever they feel like it, with no warning previously to it whatsoever.
https://www.coindesk.com/tether-confirms-relationship-auditor-dissolved/
Add that to the fact that Bitfinex for years allowed shady practices like wash trading on their platform, i think it's definitely better that a more professional entity has control over such a coin.
This is not the right board for your topic.
I mean you literally can't do it worse than Bitfinex did.
They allowed no audits, no checks, and they just pumped up random USDT whenever they feel like it, with no warning previously to it whatsoever.
https://www.coindesk.com/tether-confirms-relationship-auditor-dissolved/
Add that to the fact that Bitfinex for years allowed shady practices like wash trading on their platform, i think it's definitely better that a more professional entity has control over such a coin.
This is not the right board for your topic.
October 24, 2018, 04:38:00 AM
What are your thoughts about it? Will it be success? Will it fit all users' needs?
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