There was UST, then got depeged, then HUSD, got depeged again, now we have USDC, USDT & BUSD as the other options. Many people converted their FIAT to stablecoins, just in case bitcoin or other coins falling, they can buy it with their stablecoins because its "stable".
Even if USDC got depeged, we still have BUSD & USDT, if BUSD depeged, we still have USDT, but if USDT depeged, we are done. No any stablecoin anymore should be trusted
Topic: USDC is not safe - page 6. (Read 1121 times)
No stable coin is safe. The sooner people understand this the better it is for everyone. Stable coins require your trust to operate. You don’t need to trust anybody when using bitcoin. Stable coins are centralized, require your trust and these are against the ideals of crypto completely. Crypto itself is rock solid and can endure any attack but this, this is not a direct attack at crypto. These unbacked tokens artificially shoot up the crypto asset prices and that made everybody feel good but when these tokens disappear all the hell will break loose. The problem is, tether shouldn’t have existed in the first place.
In this situation, what can be the best way to store our stable coins 
CASH only!All of these coins USDT, and USDC and even BUSD are not safe. The Algorithmic stable coins like Dai can also lose their peg against the dollar in a crisis situation.
We do not have much options for the need of stable coin hence we need to depend on one of these. USDT is the first and long running hence we may assume it may last forever. 
In this situation, what can be the best way to store our stable coins
Well, we all know Tether has issues and many people say that USDC is much safer than USDT which is not true according to this research.
Although this tweet is few months old but it is a moment of concern. All of these coins USDT, and USDC and even BUSD are not safe. The Algorithmic stable coins like Dai can also lose their peg against the dollar in a crisis situation.
In this situation, what can be the best way to store our stable coins
Although this tweet is few months old but it is a moment of concern. All of these coins USDT, and USDC and even BUSD are not safe. The Algorithmic stable coins like Dai can also lose their peg against the dollar in a crisis situation.
In this situation, what can be the best way to store our stable coins
I don't use USDC, I use BUSD because most of me trade on Binance, but in the end, I don't trust anyone including BUSD, even though I'm using them daily. Everything is centralized, there is no such thing as safe, so don't compare, look at FTX they are always overrated and safe until crash. So don't compare which is better but use it wisely, don't keep it for too long, only use it when the need arises. Between stable coin and fiat, I would choose fiat.
So the ideal solution to this is don't hold stable coins at all. Directly buy bitcoin with fiat money and otherwise keep holding bitcoin or altcoins.
Yes, i agree to this part that buying bitcoin is a safer bet at least in the current bear season. Convert all your stablecoins in bitcoin and hold bitcoin. The more chances are bitcoin will rise from here or even if it goes further down, it will be for very short time.
The problem will arise, in the next bull season. At that moment, you will want to convert your money in stablecoins when bitcoin is at 50,000$, 100,000$, or 150,000$. At that time, it will not be a good idea to keep money in bitcoin. So we need a reliable stable coin before the end of the next bull cycle.
In this situation, what can be the best way to store our stable coins
https://twitter.com/CryptoInsider23/status/1542027718677504002
We have seen how decentralized stable coins can lose their value although DAI is still safer but we never know what might happen.
We know how Tether has been rumored to fake its reserves and now the same is happening with USDC.
In this case one thing we can acknowledge is that holding stable coins is not a good choice.
So the ideal solution to this is don't hold stable coins at all. Directly buy bitcoin with fiat money and otherwise keep holding bitcoin or altcoins.
In this situation, what can be the best way to store our stable coins
BITCOIN!
Dollar and dollar base stablecoins are just a medium of exchange not a place to store wealth. You store walth in commodities, stocks, real estate.
But to be honest I think its just a FUD. Stablecoins is a serious game with big money. You can't have better stable coin. Stable coin is stable coin. So the only way to convince custommers to use your is to FUD the other one.
The author claims that circle can't keep money in the bank without losing money...
All of these coins USDT, and USDC and even BUSD are not safe. The Algorithmic stable coins like Dai can also lose their peg against the dollar in a crisis situation.
This is why I never trust in anything that link with "centralization" because of the are scam or has poor security. If you mention the risk of holding DAI is, DAI can't survive during crisis situation, then explain to me which fiat money can survive during crisis situation? 
None!Fiat also lose it's value when crisis happen, this is why DAI need a time to adjust with the current fiat price. Actually that's a risk of holding stable coin, but it has nothing to do with a centralization risk.
Well, we all know Tether has issues and many people say that USDC is much safer than USDT which is not true according to this research.
Although this tweet is few months old but it is a moment of concern. All of these coins USDT, and USDC and even BUSD are not safe. The Algorithmic stable coins like Dai can also lose their peg against the dollar in a crisis situation.
In this situation, what can be the best way to store our stable coins
https://twitter.com/CryptoInsider23/status/1542027718677504002
Although this tweet is few months old but it is a moment of concern. All of these coins USDT, and USDC and even BUSD are not safe. The Algorithmic stable coins like Dai can also lose their peg against the dollar in a crisis situation.
In this situation, what can be the best way to store our stable coins
https://twitter.com/CryptoInsider23/status/1542027718677504002
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