Comprehensive overview of STABLECOINS — PART 2
FIAT COLLATERALIZED STABLECOINS
**Fiat collateral for creating a token represents reserves held by a central entity.**
How it works: The mechanics for implementation are fairly straight-forward. A third party takes deposits in US Dollars (or another desirable fiat currency) and issues a unit of stablecoin for every dollar deposited. To cash out a unit of stablecoin, the third party wires US Dollar to the holder and burns a unit of the stablecoin.
Pros:
* Easy to conceptualize
* Value will match USD with certainty if properly implemented (digitized dollars without capital controls)
Cons:
* Must trust third-party to hold fiat collateral
* Need additional third-party for audit to make sure appropriate collateral is being held and units of stablecoin match deposits
* Expensive and slow to audit
Projects with this structure:
1.Tether,
2.TrueUSD,
3.DigixDAO,
4.Globcoin,
5.AAA reserve,
6.Stably,
7.X8 currency
Read the full article at - https://medium.com/cp-processor/comprehensive-overview-of-stablecoins-part-2-7ebf0c36eb32
Topic: Do you think that STABLECOINS are needed in the future of crypto payments? - page 5. (Read 1645 times)
May 23, 2018, 07:06:18 AM
May 22, 2018, 05:57:38 AM
I do not think it is necessary because maybe in the future still use the payment tool as it is today, besides that it is still current as usual and not much news there will be an update for it!
May 22, 2018, 05:43:23 AM
Yes, we need stablecoins for sure, because all people need to own some couns that bring stability into their portofolio. From what i saw untill now, Havven seems to be the most promising option regarding stablecoins.
Yes, Havven is interesting. But its price right now is $0,66
The current stablecoins offer is continuously changing and innovating, and that is a good thing. If we are going to take cryptocurrency mainstream then it's time to start using stablecoins and payment processors.
May 22, 2018, 05:33:45 AM
I personally prefer direct converting to fiat if I want to convert to fiat, but seems like not many exchange support for direct fiat converting. Stable coin are easily manipulated if we compared to other crypto, like the Tether case in bitfinex before.
Yes, you are right about Tether, it is actually adding to the volatility of the cryptomarket. What do you think about this new "stablecoin" that Circle is bringing to the market? Same as Tether, or maybe better?
https://www.ccn.com/bitmain-backs-circles-stable-cryptocurrency-with-a-110-million-funding-round/
May 22, 2018, 04:18:44 AM
Yes, we need stablecoins for sure, because all people need to own some couns that bring stability into their portofolio. From what i saw untill now, Havven seems to be the most promising option regarding stablecoins.
May 22, 2018, 04:06:42 AM
I personally prefer direct converting to fiat if I want to convert to fiat, but seems like not many exchange support for direct fiat converting. Stable coin are easily manipulated if we compared to other crypto, like the Tether case in bitfinex before.
May 22, 2018, 03:59:55 AM
It is exactly what the market needs if cryptocurrencies are ever going to serve the purpose that they were created for and to be used as currencies. if there is no stable coin then there would be no one who would want to use it as a currency since it is very unpredictable and volatile. Although as we are looking for a stable coin then there should also be a coin which its transactions are instant.
Right on point! The race for the dominant stablecoin has just begun, but is there any of them you trust the most?
May 21, 2018, 10:23:36 AM
It is exactly what the market needs if cryptocurrencies are ever going to serve the purpose that they were created for and to be used as currencies. if there is no stable coin then there would be no one who would want to use it as a currency since it is very unpredictable and volatile. Although as we are looking for a stable coin then there should also be a coin which its transactions are instant.
May 21, 2018, 09:45:46 AM
Yeah, the average person doesn't want to be gambling with their grocery or rent money.
Exactly! May 21, 2018, 07:29:18 AM
Because of great interest and importance of this topic, we have repeated the poll DO YOU THINK THAT STABLECOINS ARE NEEDED FOR THE FUTURE OF CRYPTO PAYMENTS, and it will last for seven days! We want to hear your opinion, so like this poll, share it or comment 
https://twitter.com/CP_Processor/status/998521133900140544
https://twitter.com/CP_Processor/status/998521133900140544
May 21, 2018, 06:56:34 AM
In my own opinion, I think for cryptocurrencies to be used as means of exchange for payment of either goods and services there is need for a stable coin. No body will want to sell and accept a coin which the price is not stable as they will be tendency for the price to fall and they maybe at loss unlike when the coin price is stable and there is no problem of loss.
May 21, 2018, 06:44:28 AM
Comprehensive overview of STABLECOINS — PART 1.
For those of you who still don’t know, “Stablecoins” as they are called by the greater blockchain community, are crypto coins that are intended to provide measurable stability in a price change. These crypto coins are “designed to be used as a unit of account and even as a store of value.” Typically, most stablecoins are pegged against the USD, but some implementations intend to move over to a basket of currencies or an index such as the CPI (consumer price index) in time. This is in hopes of having a currency independent of fiat in the near future.
There are three categories of approaches to developing a price-stable cryptocurrency:
1. fiat-collateralized
2. crypto-collateralized
3. non-collateralized (essentially an independent, non-collateralized currency maintained by an “algoritham”)
Read the whole article at https://medium.com/cp-processor/comprehensive-overview-of-stablecoins-46d9220ca862
For those of you who still don’t know, “Stablecoins” as they are called by the greater blockchain community, are crypto coins that are intended to provide measurable stability in a price change. These crypto coins are “designed to be used as a unit of account and even as a store of value.” Typically, most stablecoins are pegged against the USD, but some implementations intend to move over to a basket of currencies or an index such as the CPI (consumer price index) in time. This is in hopes of having a currency independent of fiat in the near future.
There are three categories of approaches to developing a price-stable cryptocurrency:
1. fiat-collateralized
2. crypto-collateralized
3. non-collateralized (essentially an independent, non-collateralized currency maintained by an “algoritham”)
Read the whole article at https://medium.com/cp-processor/comprehensive-overview-of-stablecoins-46d9220ca862
May 17, 2018, 11:00:30 AM
No, to make payments I don't think the stablecoins are necessary. Instead, they are an interesting concept if you are thinking in holding. For example, if someone wants to hold for a long time and is worried about the possibility that the price of his coins falls, he could get some stablecoins and hold them. The problem is to guarantee that the value of those stablecoins stays really stable, after all, they are just another cryptocurrency. Anyway, I think the only people who use the stablecoins are the traders when they think that the market is going to drop.
Interesting point, but take a look at this article https://bravenewcoin.com/news/stablecoins-and-payment-processors-to-take-crypto-mainstream/
You might change your mind
May 16, 2018, 05:12:20 PM
No, to make payments I don't think the stablecoins are necessary. Instead, they are an interesting concept if you are thinking in holding. For example, if someone wants to hold for a long time and is worried about the possibility that the price of his coins falls, he could get some stablecoins and hold them. The problem is to guarantee that the value of those stablecoins stays really stable, after all, they are just another cryptocurrency. Anyway, I think the only people who use the stablecoins are the traders when they think that the market is going to drop.
May 16, 2018, 08:41:23 AM
I believe that stablecoin is very necessary for crypto. I am sure that such coin will appear in this year's and this become a reason why a lot of new people will come in crypto. There will be new hype about crypto.
Totally agree! 
May 16, 2018, 08:05:14 AM
I believe that stablecoin is very necessary for crypto. I am sure that such coin will appear in this year's and this become a reason why a lot of new people will come in crypto. There will be new hype about crypto.
May 16, 2018, 06:23:33 AM
Our recent poll showed that 45% of you believes that MakerDao& Dai has the most promising Stablecoin and that it will be most likely the future of crypto payment.
We think that stable token DAI in practice has the role of ETH LONG leverage and in other words serves as some kind of ETH CALL Option.
What do you think?
We think that stable token DAI in practice has the role of ETH LONG leverage and in other words serves as some kind of ETH CALL Option.
What do you think?
May 16, 2018, 04:19:15 AM
We have no dilemma that the massive use of crypto requires stability for the simple reason:
many more people want to make payments than to gamble.
As far as the future of the Stablecoins, the race has just started, and time will show the results ...
We hope that CP Processor will achieve its vision and mission
many more people want to make payments than to gamble.
As far as the future of the Stablecoins, the race has just started, and time will show the results ...
We hope that CP Processor will achieve its vision and mission
May 15, 2018, 07:48:32 AM
For cryptocurrencies to be used as currencies which they were meant to be in the first place the need for a stable coin is greater now more than ever because there is no way that sellers would want to accept a currency which value can drop in the blink of an eye. It does look like it would be hard to find one stable coin but that does not mean that it is not needed.
May 15, 2018, 07:21:48 AM
bitbay will be best real stable coin
i have never heard of these other ones that are mentioned in the poll
that with their dde decentralised marketplace will ensure this one is the winner
i have never heard of these other ones that are mentioned in the poll
that with their dde decentralised marketplace will ensure this one is the winner
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