What do you think about this stablecoin?

HB Wallet

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Quote from: Ozero on September 29, 2019, 11:08:33 PM

Don't know the stable coin provided by ethereum? What will happen to such a stable coin when ethereum drops in price very much? I do not think that such a stable coin is good, despite the fact that I am very good with ethereum. It seems to me that here the meaning of stable coins is lost. They should not be supported by similar assets, in this case, cryptocurrencies. If there were no price dominance in the cryptocurrency market, perhaps it would still work. Well, time will tell.

Actually, Dai uses margin trading to sustain its value of $1. You can find the details at the link I posted. In general, you use your ETH as collateral to draw out Dai and you can use that amount of Dai to invest in risky ICOs or simply trade with other cryptocurrencies. Meanwhile, your ETH is still kept securely in a CDP smart contract. If ETH goes down in price, you can use Dai to pay back your loan and withdraw ETH at the equivalent value which is lower than your initial investment. For example, imagine at first it costed you 1 ETH to withdraw 194 Dai, but then ETH drops in price when Dai is still $1, you will only have to pay 180 Dai to get your 1 ETH back. ETH is not the key factor that maintains the value of Dai, but the economic incentives are.

Ozero

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Don't know the stable coin provided by ethereum? What will happen to such a stable coin when ethereum drops in price very much? I do not think that such a stable coin is good, despite the fact that I am very good with ethereum. It seems to me that here the meaning of stable coins is lost. They should not be supported by similar assets, in this case cryptocurrencies. If there were no price dominance in the cryptocurrency market, perhaps it would still work. Well, time will tell.

Cheesus

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terra-credit.com

Decentralized is the nature of crypto, and DAI is the first decentralized stable coin. But DAI is a very underrated stable coin. Because all other stable coins have huge volume, only a very few exchanges list DAI as a trading pair. I am eagerly waiting to see DAI in place of USDT!

Aldrinx00

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I think DAI is a good stable coin because it's decentralized and the price never gets below $1 so that's a real stable coin. Unlike tether which price is changing .99 etc, how do they call this stable coin? Dai is the only solution for market volatility.

ArmyJune

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Quote from: ?? on ??

Quote from: HB Wallet on September 27, 2019, 02:06:52 AM

So it's DAI, a decentralized stablecoin backed by ETH.

History has proved that Dai succeeds even in a falling ETH environment. When the value of ETH fell from $1,400 USD in January 2018 to $400 in April 2018, the Dai system’s incentive structure successfully kept the value of Dai pegged to $1 USD.

Unlike Tether (USDT), Dai is completely decentralized. You can see how it works at https://www.hb-wallet.com/post/how-dai-stablecoin-works

What do you think about this stablecoin and its future?

One thing, i don't understand why people so worry about stable coin. Stablecoin is to support cryptocurrency without your lose and marketcap lose. Stablecoin future is stable, all stablecoin are legit tether, tusd , Dai and new one is Binance USD.

I think stablecoins like Dai is a kickstart of something even bigger in the future, like the OP mentioned - the DeFi.

ImSuparmin

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I think this stablecoin is very good for us to follow, because this stablecoin has a decentralized cryptocurrency idea, besides that it will also become a perfectly stable coin exchange that complements the entire ecosystem.

MI6

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Actually i just know about DAI from their airdrop (few days ago) i think the coin is good. Because stable coin needed for future. When other altcoins have their volatile, maybe for some person who want to save their money without bigger risk, stable coin can be option. But actually i am don't know deep about stablecoin yet, will learn it more so i can see how it is good or not.

randegibran

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Only ethereum so far become stable coin with price always could be higher, last month price down but eth could take back the moment where price growing up, maybe other coin difficult to back with higher price.

xOdiumNostrumx

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Well Dai has already a pretty sizable and loyal community behind it, as well as couple of well known crypto influencers who are huge fans of it. It is build on a very interesting and intriguing concept, but it is rapidly gaining more competition in the stable coin space.

befriendmywater

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I read about DAI a few days ago and find that this is really a really worth stablecoin to use. What I like most and also the most question about DAI's system is the token buyback of ICO projects.
In order to be protected by DAI, I need to deposit my ETH into CDP and then will use DAI to invest in the ICO project. then if the project crashes, I can use the token and resell it to DAI and they will refund me 79.8% of the ETH I sent them. The problem is, if the project's token is no liquidity or the token is dead. So, how will DAI handle that token?

nakata121

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With Stable coin crypto, it is hoped that fiat money can be converted into a decentralized digital currency which has various advantages and features of the Blockchain, as well as having value stability so that investors / holders do not need to worry about significant price changes. With the Stable coin crypto, it can avoid falling prices like other altcoins. This also broadens the chance of adopting crypto as a legitimate and comprehensive digital money in various parts of the world.

Chuky92

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The key point is decentralization, I think that's the reason why DAI is a bit better than other stablecoins. It has maintained a fair position over time and with decentralization growing more, I think it will hold a vital position in the future. However, when compared with other stablecoins like USDT, USDC etc it shows that they are topping the charts as well as popularity more than DAI but I still hold my stance and that is, decentralization matters thus giving DAI an edge in the near future.

Nivia1st

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as one of the DAI stablecoin is indeed worthy of being calculated. but this coin still cannot compete with other stable coins such as USDT or USDC. at the end of the stablecoin it will still become stablecoin, so it doesn't matter whether the DAI can compete or not as long as they can maintain their grades.

asradoni

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DAI for 2 years has proved to be a fairly stable stablecoin, I support such decentralized projects and see the future in this. Although I trade with USDT myself.

lionheart78

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I read the link given by the OP and I find DAI goal amazing. It is a brilliant idea to go in a lender's path to subsidize the platform and make profit from fees.

Quote from: Jolly.Roger on September 27, 2019, 01:47:39 PM

I think decentralization doesn't go well with stablecoin. For talkenov more important credibility to the project which it produces.

That is for DAI to prove that it is possible for a decentralized stablecoin to exist in the market, and it seems they are doing great since it is almost 2 years since they are in circulation and operation. In my POV, this kind of stablecoin will survive unless their developers fucked up.

Quote from: lolgato1 on September 27, 2019, 01:44:29 PM

These decentralized stable coins perfectly follows the cryptocurrency idea.
Vitalik Buterin said a long time ago that future is in decentralized exchanges and decentralized stable coins perfectly complement the entire decentralized ecosystem. Cool

Sad thing is there is no absolute decentralization since platform is always created, maintained and supervised by a small group of people.

Jolly.Roger

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Quote from: HB Wallet on September 27, 2019, 02:06:52 AM

So it's DAI, a decentralized stablecoin backed by ETH.

History has proved that Dai succeeds even in a falling ETH environment. When the value of ETH fell from $1,400 USD in January 2018 to $400 in April 2018, the Dai system’s incentive structure successfully kept the value of Dai pegged to $1 USD.

Unlike Tether (USDT), Dai is completely decentralized. You can see how it works at https://www.hb-wallet.com/post/how-dai-stablecoin-works

What do you think about this stablecoin and its future?

I think decentralization doesn't go well with stablecoin. For talkenov more important credibility to the project which it produces.

Cult

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Quote from: HB Wallet on September 27, 2019, 02:06:52 AM

So it's DAI, a decentralized stablecoin backed by ETH.

History has proved that Dai succeeds even in a falling ETH environment. When the value of ETH fell from $1,400 USD in January 2018 to $400 in April 2018, the Dai system’s incentive structure successfully kept the value of Dai pegged to $1 USD.

Unlike Tether (USDT), Dai is completely decentralized. You can see how it works at https://www.hb-wallet.com/post/how-dai-stablecoin-works

What do you think about this stablecoin and its future?

I can’t say anything for this coin, since I don’t use it, but after reading the reviews of people I think I’ll take a closer look

lolgato1

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These decentralized stable coins perfectly follows the cryptocurrency idea.
Vitalik Buterin said a long time ago that future is in decentralized exchanges and decentralized stable coins perfectly complement the entire decentralized ecosystem. Cool

crazy-pilot

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In my opinion, this is a great decentralized stablecoin. Too many stablecoins have appeared on the market, many people are confused and do not know which coin to choose. DAI is currently a great choice.

indika

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Quote from: mmo_online_1981 on September 27, 2019, 10:29:08 AM

Stablecoins are a temporary solution for investment plans. Storing value, but cannot be an investment, because Stablecoins will not change its value, because it is always a 1: 1 ratio with a fixed money asset.

yes stable coins are not the investment opportunity but it offer free mind when it widely acceptable and truly backed by real currency.also it can use for transfer money within exchanges

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