Topic: Get ready to experience the first-ever mineable relatively-stable value coin - page 2. (Read 489 times)

Decentralized stable coin? The on what based the value will of the coin you are creating! And decentralized couldn't have fixed value if it does then it is not really decentralized.Just need to understand more about the decentralization and stable coins if you are going to create a coin.And more to add with this is no pre mine, sounds like you lost mind while thinking about this idea.

honestly, I personally don't really like stablecoin, Because, in my opinion such alt coins are only created as a substitute for fiat currency where the price movement is so stable that it rarely or even does not provide any profit for those who hold it, we can see how the movement of coins like usdt now this only tends to increase by no more than 2% as well as if there is a decline in price and maybe stablecoin is only suitable for traders who really only want to keep their money in crypto because it can prevent them from being taxed by a country or bank.

I do not have problem will any stablecoin either centralized or decentralized and the only thing that community needs is the transparency of the stablecoin, everyone should be sure that the stablecoin they are holding is backed by real and equivalent fiat money.

Ofcourse. I think such stablecoin could be used mainly for buying and selling..., for "trading" & protection against volatility of mostly deflationary/volatile coins and assets (as you mentioned). Not really good as store of value. The main deflationary cryptocurrency of a Blockchain/decentralized network could be used as store of value, and for buying and selling too.

I don't know you guys but for me the concept of another stablecoin, whether it is fiat backed or decentralized, will not click to the crowd. Why? Simply because it was a stablecoin, its trend is almost not fluctuating which means you can't create entry/exit points effectively — no profit for you. We all know that we only use such coin as a temporary safe haven for our assets when trading and since most of us already got used to Tether then I think a new one will only got small to no attention at all . Thus, will end up as a failure.

Interested to know how you will regulated the price and keep it stable. Will it be backed by/based on a fiat currency? Would it be "mint and burn" to keep the price stable?
I'd premine loads of non-fiat based stablecoin and regulate the supply via fast, efficient and advanced smart contract system that can decrease (lock) or increase (unlock) coin supply depending on demands. This should help the community keep proper track of the coins and the total supply. We could vote in the future to further increase total supply when it becomes necessary

True believers  of cryptography and the real cryptocurrency enthusiasts doesn't run behind FIAT at the first while, i see a big interest in USD, Euros and other fiat currencies here which will bring +10 cryptocurrencies (Decentralized Fiat assets). I'm not against it but having no premine, making it really decentralized, mineable, lol it's not impossible but what will its owner earn? Reputation? Even Satoshi has some Bitcoins bruh.  
It could be done, but even if that happens, a mineable fiat asset? how can we control the mining ?

A decentralized stablecoin may have different problems, and how to solve them ? There is so much to think about, who will do it all and what will be the benefit to them ?

agree, i also think that DAI is decentralized and have multi-collateral, it is not just backed-up with one currency or gold, as some other centralized stable-coins
did not understand what is planned by OP, but maybe more information could clear all the things out

Isn't Dai already a decentralized stablecoin? Or have i completely misunderstood it? I don't yet quite understand how makerdao / crypto-collateralized systems works but i think Dai is decentralized.

Everyone wants decentralized projects so badly thinking it's the answer but you are all wrong, decentralized stable coins aren't that safe because they have no license, they are illegal and there company is unregistered, this is why I prefer centralized stable coins like BUSD or USDC

We understand that stablecoin also fluctuate in price but they are still not volatility in nature like others cryptocurrency we have. However, you never mentioned what the stablecoin will be back with? I hope you have good experience in finance management in other to maintain the coin price stability.
In the meantime, I'm starting to thinking we have had enough stablecoin in the market

I have lost around $100 by the times of 2010/2011 when liberty reserve was seized by US federal.

I am sure this crypto community will suffer a lot if anything similar will happen to tether and other stablecoins. People are not aware of dangers of making use of centralized services for financial needs. Before anything negatively happens to centralized stablecoins industry, I guess we must need to switch over to a problem-free environment.

I welcome your idea of decentralized stablecoin.

Yeah, that is the reason I am stating about having relatively stable value coins and not exactly fixed value coins.

Even USD's value fluctuates in forex markets.

Those stablecoins we are having right now in crypto space, sometime value $0.98 and sometimes $1.01 or $1.02, for example.

So, maintaining stable value is market driven. It means traders will decide its volatile nature. When more traders join, they will lose their power to manipulate and from that point it will have approximately stable value.

Would it be possible if you can't handle nor manipulate it's price on the market and its system per se being centralized? AFAIK, it's impossible. Not unless it wouldn't have to undergo fork, or just simply backed with other currencies. Take Digital Gold (GOLD)^[1] as an example - it is a stablecoin while being decentralized as well - yet backed with the price of a gram of gold as well. But still, from time to time, it's price fluctuates, but not that high and not that low.

---

[1] - See: https://gold.storage/en/home

Relatively fixed value.

(I will explain in another post why we need de-stablecoin and how it will benefit us against fiat and other existing centralized stablecoins.)

No. What reserve you are having for back-up will not decide that it will be a centralized and decentralized.
Moreover, crypto reserve nor fiat reserve will not have major differences except fluctuations.

I am proposing here a stablecoin which will be minted out of thin-air OR by assuming the bitcoin we are already having in our addys (or in blockchain in general) as back-up.

A decentralized stablecoin must have decentralized reserve.

If we are talking about decentralized stablecoins we are talking about mostly crypto-collaterized stablecoins which are backed by other cryptocurrencies to make it stable. Yeah they already exists in the market and from what I know just as long as you are looking for a non-fiat-backed stablecoin the stablecoin will most likely be decentralized, just search DAI as an example.

Decentralised, mineable community based stable coin, zero pre-mine, hm... It sounds like a fancy brilliant new idea on Bitcoin forum.
Can you explain to me a little clearer, what would that your coin could offer and that Bitcoin doesn't have it? to be serious, but all super stuff which you plan to have with your coin (which is btw not a single letter on paper) we already have functionally, why do we need another one?

Update : 10 sept 2020

After lots of concern (from this community) on mechanism on maintaining stable value, decided to launch a relatively-stablecoin (r-stablecoin) which will be under progress which are meant for making it achieving the level of stablecoin over the years.

As of now, it is all about having a community based, mineable relatively-stablecoin with few criteria and assumptions[1].

A coin may have any value (like bitcoin or any other cryptocurrencies) but for the reason of simple-to-use, we assume to have one unit of this coin to have one USD value. (It may fluctuate based on supply and demand on open markets but when more people adopt and use it, it will trade around exact $1 always which is the state we may assume it has achieved the level of stablecoin until then it will remain as r-stablecoin).

There are 2 finalized methods to start (only one will be implemented):

1. A POS coin with 6% staking rewards per annum and the initial distribution will be like clamcoin.

2. A POS coin with 6% staking rewards per annum and with premine to distribute to this forum members based on their ranks and to all BTC holders by verifying them by signing a message (which will be like byteball coin).

Method-1 is fully fair distribution but makes lots of coins locked forever as whales may not prefer to claim a $10 with their private key.

Method-2 is the usual practice of all POS coins. Devs can have shares and can reserve funds for future developments (like listing on exchanges).

[1]Criteria and assumptions for the need of this project:
1. The need of problem free non-corporate stablecoin is time proven. So far, crypto space does not have any non-corporate stablecoin.

2. This coin will not be like other usual stablecoins which are based on unverifiable reserve based. To solve the problem of improper reserves for a stablecoin (and even almost all countries fiat's reserves are improper as per many economists), we need to REMOVE the centralized reserve and from this point, the concept of having decentralized reserve based stablecoin is originated. So, we are going to assume to have bitcoin on blockchain as reserve for this coins. Hence all bitcoin holders can mint/ can have initial share of this coin's total supply and will mint new coins through staking (POS).

3. In other words, it is all about decentralized (non-corporate) stablecoin hence the reserves for this coin is need to be decentralized. Hence, bitcoins on our addresses are assumed to be the actual reserve for this r-stablecoins and all the bitcoin holders deserve the right to mint their propositioned share on total supply (which is not practically possible hence we mint and do distribute (by one of either methods as described above)).

---

I have been thinking about non-corporate stablecoin for years. Due to some reasons, I am still hesitating to go for it.

The need of stablecoin is already proven. But, we are having so far only centralized stablecoins.

I am proposing here about mineable-community based-fully decentralized stablecoin with zero pre-mine.

(As, this would be a non-profitable project from dev's perspective (but this crypto community may start using a stablecoin without any hesitation), I cannot afford to pay exchanges for listing. But, if a coin is preferred by this community then exchanges may go for auto-listing.)

Development and launch of such a stablecoin should be community driven.

Let's us discuss.