Topic: Pegging to fiat (Read 608 times)
Is tether centralized?
BitAssets from BitShares, pegged to USD, EUR, CNY and gold. Also nubits pegged to USD
They don't seem to work very well...
BitAssets are being redesigned to promote better liquidity. Check out the BTA 2.0 discussions here..
https://bitsharestalk.org/index.php/topic,16127.0.html
https://bitsharestalk.org/index.php/topic,16143.0/topicseen.html
BitAssets on BitShares are collateralized with BTS on the decentralized exchange baked into the BitShares protocol. NuBits are traded between "custodians" on centralized exchanges to maintain the $1 peg, and have no blockchain enforced collateral backing them. I'll take the asset with backing collateral myself.
I don't know about Bitshares but nubits always seems to hover around the 95 cents to $1.00 range on CMC.
You're right, the chart at CMC doesn't show well this correlation and I was reading it wrongly. I found a better chart and indeed it seems to work for now... I need to study Nubit more and read about criticisms and their answers before using it
I like Bitbays idea where it will effectively "lock down" coins and prevent mass dumping to maintain price equilibrium. I'm not sure if it can work or not it is so over my head but I like the idea of a world where if you want to cash out your crypto to fiat, instead of dumping on exchanges you are selling your coins for real-world goods or cash contracts on the decentralized marketplace. No one should have to be punished financially for either holding onto their coins too long or exchanging their coins for US dollars, it should all be fluid.
I don't know about Bitshares but nubits always seems to hover around the 95 cents to $1.00 range on CMC.
You're right, the chart at CMC doesn't show well this correlation and I was reading it wrongly. I found a better chart and indeed it seems to work for now... I need to study Nubit more and read about criticisms and their answers before using it
BitAssets from BitShares, pegged to USD, EUR, CNY and gold. Also nubits pegged to USD
They don't seem to work very well...
I don't know about Bitshares but nubits always seems to hover around the 95 cents to $1.00 range on CMC.
Bitbay is supposed to be working on a pegging solution as well.
BitAssets from BitShares, pegged to USD, EUR, CNY and gold. Also nubits pegged to USD
They don't seem to work very well...
BitAssets from BitShares, pegged to USD, EUR, CNY and gold. Also nubits pegged to USD
Is there any fiat-pegged and decentralized coin scheme that actually works? Is such a thing at all possible? It would be very useful for the transition from fiat to other cryptocurrencies, in most real world business the wild fluctuations of fiat/crypto price are a high impediment to adoption.
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