Do we have a choice? DAI | Bitcointalksearch.org

tbct_mt2

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Quote from: jacafbiz on January 16, 2021, 07:06:18 AM

There are many reasons why people don't really use DAI tokens.
1. it is less stable has compared to other centralised stable coins like USDT, USDC BUSD etc
2. It has low market cap, look at the amount of trading volume USDT had yesterday, DAI can not sustain that level yet and with
better adoption and trust level the marketcap should increase.
3. It is tied to Cryptocurrencies and we all know how volatile the space is, if the price of Ether used as collateral dump like 20% to
30% a lot of these depth will be called and close.

1. It can be true but as a stable coin, the price of DAI will fluctuate around the reference price at $1 for one DAI. If you are not in a super hurry and wait for few days, you don't get any loss with your DAI. You will have opportunity to cash your DAI amount to $ at the rate 1:1.

2. I strongly believe that there are not many people have real problems with liquidity of trading pairs with DAI on big exchanges. It is both the trading volume of coins and the amount is traded by one person. Not all of us are whales or have big capital to get troubles with trading. The real issue is the spread can affect your trades. The lower the volume is, the higher spread can exist.

3. You have trust in companies, governments when you join the centralization parties.

disconnectme

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I don't think this is the fault of the developers, it is what the market want, if the market demands USDT, you get it to them, it doesn't make sense to try to sell what people do not want to them. I personally do not think I have made any trade against DAI stable coins before, but I have done against, USDT, USDC and BUSD

zasad@

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Quote from: jacafbiz on January 16, 2021, 07:06:18 AM

There are many reasons why people don't really use DAI tokens.
1. it is less stable has compared to other centralised stable coins like USDT, USDC BUSD etc
2. It has low market cap, look at the amount of trading volume USDT had yesterday, DAI can not sustain that level yet and with
better adoption and trust level the marketcap should increase.
3. It is tied to Cryptocurrencies and we all know how volatile the space is, if the price of Ether used as collateral dump like 20% to
30% a lot of these depth will be called and close.

The team is working on ways to grow it pie but will take time and trust

DAI tokens passed stress test. At the beginning of 2020, the price of Ethereum dropped to $ 115. Defi investors have lost their collateral because they did not manage to increase them.
But the DAI token is traded successfully and generates more trust.
Nobody knows how the conflict between USDT and SEC will end.
Stableloins-backed on-chain is much more reliable now than Stableloins-backed off-chain

MishaSER

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Quote from: blockman on January 15, 2021, 06:23:08 PM

Quote from: MishaSER on January 15, 2021, 04:17:35 PM

These are just thoughts.))

I have a feeling that there is a secret conspiracy to prevent humanity from using their cryptocurrency funds anonymously. And what Satoshi Nakamoto really wanted to say, could he have foreseen that his brainchild would be used in the manipulation of the consciousness of a million people. I understand that there are many scammers and this is the main reason. But really there is no choice. We are now watching the situation as big companies are buying up a lot of bitcoins, which in the future will lead to a large deficit and centralization. It seems that the state no longer exists, there is a banking system, a mega-corporation and social networks.

An interesting conspiracy that you're thinking. We cannot stop the large corporations to be adopting cryptocurrencies, once upon a time, the early crypto people have been dreaming of it before. And today that they're already on our side, I don't think that it should be still thought of it.
They have their own agendas and we have our own. They'll just rely on what the community would like to do and if they'll have their own move, it's just all about their companies making their entries profitable.

You are saying that the community is happy that cryptocurrency has reached such heights. And now that the goal has been achieved let it go its own way.

Guys, I see a lot of comments, I will try to answer everyone how there will be a free minute.

posi

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Quote from: MishaSER on January 15, 2021, 02:57:33 PM

Why are exchanges promoting centralized stablecoins?

It like the saying "if you can't beat them, join them". Many exchange promoted centralized stablecoins because the KYC/AML provided by the government of the country where they operated and like you said some anonymity can be question in other for crypto exchange not to be in such situations they choose to support centralized stablecoins.

Quote from: MishaSER on January 15, 2021, 02:57:33 PM

Why doesn't the community use DAI, this coin is listed on many top exchanges.

The community use and support DAI with the inclusion if other decentralized stablecoins but the problem is that most exchange sites used centralized stablecoins as their trading pairs.

jacafbiz

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There are many reasons why people don't really use DAI tokens.
1. it is less stable has compared to other centralised stable coins like USDT, USDC BUSD etc
2. It has low market cap, look at the amount of trading volume USDT had yesterday, DAI can not sustain that level yet and with
better adoption and trust level the marketcap should increase.
3. It is tied to Cryptocurrencies and we all know how volatile the space is, if the price of Ether used as collateral dump like 20% to
30% a lot of these depth will be called and close.

The team is working on ways to grow it pie but will take time and trust

jrrsparkles

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Quote from: Gunday_07 on January 16, 2021, 03:35:15 AM

snip~
Who told you that DAI isn't well known? It's the second well know stable coin after USDT, not even USDC comes this close but the truth is many still prefers USDT, it's more popular and it's available on different chains too not just Ethereum blockchain

But look at the 24 hour volume of USDT and DAI where there is a huge difference that is why I said it is still not know to many people as stable coin.The only reason why prefer USDT is due to its trading volume and availability on exchanges.

Jawhead999

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Quote from: MishaSER on January 15, 2021, 02:57:33 PM

Why are exchanges promoting centralized stablecoins?

Because many peoples are more using nor trusting popular and high market cap coins, rather than do own research first. USDT is a stablecoin known as backed with real fiat USD 1:1 as many article said (but the truth is not true), it's why many people prefer choose USDT since it's more popular and has similar name with USD (some people think USDT and USD is same).

Quote

Why doesn't the community use DAI, this coin is listed on many top exchanges.

Since many people aren't doing own research before choose a coin and the coin has much lower market cap rather than other stable coins, they not choose DAI and it's underrated stablecoin.

Gunday_07

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Quote from: jrrsparkles on January 16, 2021, 02:58:57 AM

Quote from: MishaSER on January 15, 2021, 02:57:33 PM

As we know, many of the cryptocurrency community support anonymity, but as we see it can be questioned.
There are many anonymous cryptocurrencies, but in order to save money from falling rates, you need to reveal your identity.
Huh

Why are exchanges promoting centralized stablecoins?
Huh

Why doesn't the community use DAI, this coin is listed on many top exchanges.

DAI

Maybe I don’t know something and it should be so, but thoughts about conspiracy theories appear in my head. Cheesy

Simply because not much people aware of its existence, and also every exchange introduced their own stable coins so people feel that it is better to trade with their pairs for benefits in future. Maybe in future people will realize the importance of decentralization even with stable coins so let them to realize on their own.

Who told you that DAI isn't well known? It's the second well know stable coin after USDT, not even USDC comes this close but the truth is many still prefers USDT, it's more popular and it's available on different chains too not just Ethereum blockchain

amishmanish

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Exchanges are not the only way for people to get into cryptocurrencies or to use them. If someone uses a centralized exchange and wishes to take out his profit from trading, that cannot be an anonymous exercise. Trading implies that you are willing to share your identity. Whether you use a centralized stablecoin or DAI, does not matter then.

If what you making use of your crypto gains by turning them into Fiat, what do you need the privacy for?

If you want to stay private, who is stopping you from keeping your crypto safe and utilizing it without converting to Fiat?

jrrsparkles

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Quote from: MishaSER on January 15, 2021, 02:57:33 PM

As we know, many of the cryptocurrency community support anonymity, but as we see it can be questioned.
There are many anonymous cryptocurrencies, but in order to save money from falling rates, you need to reveal your identity.
Huh

Why are exchanges promoting centralized stablecoins?
Huh

Why doesn't the community use DAI, this coin is listed on many top exchanges.

DAI

Maybe I don’t know something and it should be so, but thoughts about conspiracy theories appear in my head. Cheesy

Simply because not much people aware of its existence, and also every exchange introduced their own stable coins so people feel that it is better to trade with their pairs for benefits in future. Maybe in future people will realize the importance of decentralization even with stable coins so let them to realize on their own.

Claudio99

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Quote from: Shallow on January 16, 2021, 02:21:57 AM

Quote from: MishaSER on January 15, 2021, 02:57:33 PM

As we know, many of the cryptocurrency community support anonymity, but as we see it can be questioned.
There are many anonymous cryptocurrencies, but in order to save money from falling rates, you need to reveal your identity.
Huh

Why are exchanges promoting centralized stablecoins?
Huh

Why doesn't the community use DAI, this coin is listed on many top exchanges.

DAI

Maybe I don’t know something and it should be so, but thoughts about conspiracy theories appear in my head. Cheesy

I think one of the reasons why exchanges promote centralized stablecoins is that, that is the pair many traders trade with, or they are stablecoins many traders uses to hedge their funds. For example, every exchange trades USDT pairs a lot, because it has many users already, meaning many trades which also means more trading fees for exchanges; in essence exchanges like coins or tokens which users or traders will trade more in order for them to get more fees. Another reason is, many exchanges already have their own stablecoins, thus it will make sense to support as much as you can in order to get more users to your exchanges.
Also, in the case of DAI, the thing is, many traders have their own preferred stablecoin, and I don't think there is any way to judge why people use the stablecoins they use, they just do so based on choice and maybe availability, remember BUSD which is from Binance is not listed on many exchanges like USDT and USDC.

It's not as if centralized stable coins is what traders pair with, USDT earned it, and most of these exchanges are centralized exchanges too so it fits in to pair a Centralized stablecoin to other coins easily and let's not forget that USDT has the highest volumes and liquidity too

Shallow

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Quote from: MishaSER on January 15, 2021, 02:57:33 PM

As we know, many of the cryptocurrency community support anonymity, but as we see it can be questioned.
There are many anonymous cryptocurrencies, but in order to save money from falling rates, you need to reveal your identity.
Huh

Why are exchanges promoting centralized stablecoins?
Huh

Why doesn't the community use DAI, this coin is listed on many top exchanges.

DAI

Maybe I don’t know something and it should be so, but thoughts about conspiracy theories appear in my head. Cheesy

I think one of the reasons why exchanges promote centralized stablecoins is that, that is the pair many traders trade with, or they are stablecoins many traders uses to hedge their funds. For example, every exchange trades USDT pairs a lot, because it has many users already, meaning many trades which also means more trading fees for exchanges; in essence exchanges like coins or tokens which users or traders will trade more in order for them to get more fees. Another reason is, many exchanges already have their own stablecoins, thus it will make sense to support as much as you can in order to get more users to your exchanges.
Also, in the case of DAI, the thing is, many traders have their own preferred stablecoin, and I don't think there is any way to judge why people use the stablecoins they use, they just do so based on choice and maybe availability, remember BUSD which is from Binance is not listed on many exchanges like USDT and USDC.

RabbiTANK

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USDT have some upper hand over decentralized stable coins and that's not something anyone can go against, everyone have their choices to make, if you feel like decentralized stablecoins are the best for you then start using them, I'm sticking with USDT because I don't see anything wrong with USDT or other centralized stable coins

RabbiTANK

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Quote from: residivis on January 16, 2021, 01:41:52 AM

Of course, because I think that Dai is decreasing because of the many policies that appear in each project, so we also have to pay attention to movements in the market and whether there is any renewal of the project. If you start holding the Dai for a long time, maybe you can get back a higher price than before.

What are you talking about? Are you even for real? DAI is a stable coin please tell me how someone can invest in such coin and make some money from holding such coin later, stop posting for post count sake mate, learn to read

residivis

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Of course, because I think that Dai is decreasing because of the many policies that appear in each project, so we also have to pay attention to movements in the market and whether there is any renewal of the project. If you start holding the Dai for a long time, maybe you can get back a higher price than before.

Maxstl007

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Quote from: pakhitheboss on January 15, 2021, 11:54:56 PM

Each exchange has its own choice and what ever they decide they first think about profit and then adoption. You cannot force them to adopt DAI because you liked it and I do not think there is any conspiracy theory about it.

The bitter truth is there is no way to stay hidden even if you are using DAI, you are going to need fiat to buy DAI or your going to withdraw Fiat from DAI to bank account since banks don't accept DAI or other coins, so any platforms that tend to change your crypto asset into Fiat will request for ID and other information

Maxstl007

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Quote from: MishaSER on January 15, 2021, 02:57:33 PM

As we know, many of the cryptocurrency community support anonymity, but as we see it can be questioned.
There are many anonymous cryptocurrencies, but in order to save money from falling rates, you need to reveal your identity.
Huh

Why are exchanges promoting centralized stablecoins?
Huh

Why doesn't the community use DAI, this coin is listed on many top exchanges.

DAI

Maybe I don’t know something and it should be so, but thoughts about conspiracy theories appear in my head. Cheesy

What? The choice is left for you, if you have any reasons why you want to hide your identity then go for DAI stablecoin since it's decentralized and it's available on binance exchange too, but how about changing your DAI to Fiat? You want to stay off the radar? Think twice

pakhitheboss

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Each exchange has its own choice and what ever they decide they first think about profit and then adoption. You cannot force them to adopt DAI because you liked it and I do not think there is any conspiracy theory about it.

blockman

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Quote from: MishaSER on January 15, 2021, 04:17:35 PM

Quote from: blockman on January 15, 2021, 03:15:47 PM

Quote from: MishaSER on January 15, 2021, 02:57:33 PM

Maybe I don’t know something and it should be so, but thoughts about conspiracy theories appear in my head. Cheesy

Conspiracies? haha. What are those thoughts of conspiracies are you thinking about it? there's not that much of a problem and issue towards their preferred stable coins.

These are just thoughts.))

I have a feeling that there is a secret conspiracy to prevent humanity from using their cryptocurrency funds anonymously. And what Satoshi Nakamoto really wanted to say, could he have foreseen that his brainchild would be used in the manipulation of the consciousness of a million people. I understand that there are many scammers and this is the main reason. But really there is no choice. We are now watching the situation as big companies are buying up a lot of bitcoins, which in the future will lead to a large deficit and centralization. It seems that the state no longer exists, there is a banking system, a mega-corporation and social networks.

An interesting conspiracy that you're thinking. We cannot stop the large corporations to be adopting cryptocurrencies, once upon a time, the early crypto people have been dreaming of it before. And today that they're already on our side, I don't think that it should be still thought of it.
They have their own agendas and we have our own. They'll just rely on what the community would like to do and if they'll have their own move, it's just all about their companies making their entries profitable.

Topic: Do we have a choice? DAI (Read 228 times)