unblockable stablecoin? | Bitcointalksearch.org

BitKongy

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Quote from: kriptofan on July 12, 2020, 09:33:41 PM

do they exist or not?
tether and usdc they all block willynilly

Any crypto project address can still be blacklisted and once that happens it doesn't matter anymore if your coin is decentralized or privacy coins, there is no way you cashing out what you have in such address without getting caught

Ucy

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Quote from: Yogee on July 12, 2020, 10:31:35 PM

DAI is your best bet right now if you are after stable coins.

Following up on what pooya87's comment, it's hard to imagine a cryptocurrency that has a stable price in a free and decentralized market except when the coin is completely dead haha. The issuer must have a level of control over the network to keep the price equal or close to $1 as possible.

I think algorithm mixed with decentralized "stakeholder" governance can effectively keep a stablecoin stable. That would be kind of both automated and manual price regulation. I don't see why you need a single issuer (probably without checks & balance and transparency) to keep price stable.

Skinny48

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Quote from: kriptofan on July 12, 2020, 09:33:41 PM

do they exist or not?
tether and usdc they all block willynilly

I'm sure you talking about freezing your coins? Yes tether and usdc can be freezed but only decentralized stablecoin can't be freezed like DAI for example but this doesn't mean that you are 100% safe when using DAI, if you are into fraudulent activity your address can still be blacklisted

mersal

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Quote from: kriptofan on July 12, 2020, 09:33:41 PM

do they exist or not?
tether and usdc they all block willynilly

Literally no, until these coins are centralized and it is impossible to launch a decentralized stable coin.So stable coins are more like transacting using bank platforms they know where you are sending funds and if there is an issue the transaction can be reversed upon strong government orders or the wallets can be frozen completely.

passwordnow

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The recent news about Tether blocking addresses means that other centralized stable coins can also do it.
https://www.theblockcrypto.com/linked/70981/tether-blacklist-addresses-ethereum-usdt

btc_angela

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Quote from: Yogee on July 12, 2020, 10:31:35 PM

DAI is your best bet right now if you are after stable coins.

Following up on what pooya87's comment, it's hard to imagine a cryptocurrency that has a stable price in a free and decentralized market except when the coin is completely dead haha. The issuer must have a level of control over the network to keep the price equal or close to $1 as possible.

Right, or stable price/coin and decentralisation shouldn't go in one sentence. And we all know that there could be a lot of manipulation from behind to make the price as close to $1 as possible. Or in some cases, the company behind a stable coin is pumping and printing to keep the price to $1. You guys know what company I'm talking about it because they have been sued already.

Japinat

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Quote from: mk4 on July 12, 2020, 10:23:13 PM

but they might need to comply to government's requirements sometime in the future.

That's the risk of using a centralized currency as it needs to adopt with the central government which promote centralization.

If bitcoin and other decentralized coins are not anymore as anonymous as before because of the regulation, how can we expect a centralized coin, in addition, the government are already looking at the anonymous coins too like the monero, so we can already sense where we are going from here.

Chuky92

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The event of the previous days has indeed exposed people to the truth especially those who are yet to understand that centralized platforms such as those found within most stablecoins today can actually freeze users wallet. What to understand is, stablecoins which are centralized will always express that power they have over their users and nothing will be done about it.
Nevertheless, answering the question asked, I think the only stablecoin which is decentralization per say is DAI; since it is decentralized it means some of the things such as freezing of wallet which can happen in centralized stablecoins won't happen in DAI. However, this thought of DAI not freezing any wallet is coming from the angle that they are decentralized, but circumstances might still exists which might force the team to act otherwise (I might be wrong though).

Yogee

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DAI is your best bet right now if you are after stable coins.

Following up on what pooya87's comment, it's hard to imagine a cryptocurrency that has a stable price in a free and decentralized market except when the coin is completely dead haha. The issuer must have a level of control over the network to keep the price equal or close to $1 as possible.

mk4

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Yeap, as of now DAI/SAI is the only choice. But, while it's "unblockable" for now, it doesn't automatically it's going to be "unblockable" forever. Remember, there's still a single core team working on these token projects, and they can easily change it today if they wanted or needed to. Not because they're bad people per se, but they might need to comply to government's requirements sometime in the future.

The Cryptovator

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Are you asking about if it's possible unblock frozen coins? Yea, they are exist but likely you will not able to unblock if they block or frozen your account or address. It's become a huge problems that they are able to frozen your address. Means they would blacklist your address, freeze and reclaim their stable coin. So it's the disadvantage of complete centralized stable coin.

Quote from: pooya87 on July 12, 2020, 10:05:35 PM

i have no seen any decentralized stablecoins yet so i can say they don't exist.

According to this post's list 'Dai' is Semi-decntralized which is better than full centralized stable coin.

pooya87

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they can block or even reverse transactions because their altcoin is centralized not because it is a stablecoin. so what you are looking for is a decentralized cryptocurrency that also has a stable price.
i have no seen any decentralized stablecoins yet so i can say they don't exist.

kriptofan

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do they exist or not?
tether and usdc they all block willynilly

Topic: unblockable stablecoin? (Read 147 times)