Hi everybody, in another thread I'm wondering if a BTC-pegged stable coin (or token) could be a good idea or not.
https://bitcointalksearch.org/topic/m.47049012
Talking about economic consequences, what do you think could happen if someone will create a BTC stable coin, and do you think it could hit the crypto market in some way (real BTC need to be locked in some way, to give to users the BTC pegged coin)?
You can't have a "btc-pegged" and a "stable-coin" at the same time. That means a coin that is basically the same price bitcoin is and changing constantly each day which means there is absolutely no reason why someone should not get bitcoin directly instead. The only stable coins we have right now is used like USDT (which I think is a scam) because people sometimes needs someway to change from bitcoin to dollar and from dollar to bitcoin without actually cashing out. https://bitcointalksearch.org/topic/m.47049012
Talking about economic consequences, what do you think could happen if someone will create a BTC stable coin, and do you think it could hit the crypto market in some way (real BTC need to be locked in some way, to give to users the BTC pegged coin)?
Without actually cashing your money into your bank account and keeping it on the exchange as dollar/euro is done via the stable coins because they are pegged to a certain amount and doesn't change price constantly. 1 USDT is 1 USD, so it will always stay the same and if you think bitcoin will go down than you can keep it there and buy back into bitcoin when you feel like it will go up.