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Topic: What do you think about this stablecoin? (Read 297 times)

member
Activity: 156
Merit: 14
October 01, 2019, 03:05:25 AM
#34
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.
full member
Activity: 2142
Merit: 183
September 29, 2019, 11:08:33 PM
#33
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.
sr. member
Activity: 692
Merit: 254
terra-credit.com
September 29, 2019, 10:58:16 PM
#32
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!
member
Activity: 882
Merit: 13
September 29, 2019, 10:38:01 PM
#31
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.
newbie
Activity: 39
Merit: 0
September 29, 2019, 10:32:31 PM
#30
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.
full member
Activity: 490
Merit: 100
send and receive money instantly, with no hidden c
September 29, 2019, 08:48:05 AM
#29
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
hero member
Activity: 1260
Merit: 504
Betking.io - Best Bitcoin Casino
September 29, 2019, 08:00:12 AM
#28
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.
sr. member
Activity: 882
Merit: 252
September 29, 2019, 07:03:11 AM
#27
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.
full member
Activity: 1064
Merit: 101
September 29, 2019, 06:54:48 AM
#26
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.
member
Activity: 658
Merit: 10
September 28, 2019, 03:12:40 PM
#25
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?
member
Activity: 574
Merit: 14
September 28, 2019, 02:12:58 PM
#24
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.
copper member
Activity: 966
Merit: 5
September 28, 2019, 01:36:02 PM
#23
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.
full member
Activity: 821
Merit: 100
Volare.network
September 28, 2019, 12:54:07 PM
#22
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.
sr. member
Activity: 1039
Merit: 256
September 28, 2019, 12:39:57 PM
#21
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.
legendary
Activity: 2954
Merit: 1153
September 27, 2019, 02:00:34 PM
#20
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.

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.

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.
jr. member
Activity: 210
Merit: 1
September 27, 2019, 01:47:39 PM
#19
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.
full member
Activity: 479
Merit: 100
Enter the future of gaming
September 27, 2019, 01:45:39 PM
#18
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
sr. member
Activity: 793
Merit: 250
September 27, 2019, 01:44:29 PM
#17
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
sr. member
Activity: 860
Merit: 253
SmartFi - EARN, LEND & TRADE
September 27, 2019, 01:29:35 PM
#16
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.
sr. member
Activity: 489
Merit: 250
September 27, 2019, 12:17:16 PM
#15
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
hero member
Activity: 1204
Merit: 502
September 27, 2019, 12:05:58 PM
#14
The only bad thing what could happen to DAI is a smart-contract hack, something what happened to DAO project. But this is highly unlikely because DAI has been here for a long time (for about 5 years?).  Cool
full member
Activity: 1022
Merit: 106
September 27, 2019, 11:57:13 AM
#13
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.
That's why I don't keep the stablecoins. About DAI I heard only now. I rarely use USDT and  USD too on the exchenges. Mostly I use pairs ETH and BTC. By the principle of cryptocurrency to cryptocurrency.
newbie
Activity: 69
Merit: 0
September 27, 2019, 10:50:53 AM
#12
I think that DAI is the most intresting decentralized stable coin but still not so popular
sr. member
Activity: 798
Merit: 250
September 27, 2019, 10:29:08 AM
#11
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.
sr. member
Activity: 1260
Merit: 251
September 27, 2019, 07:13:33 AM
#10
if the price moves up and down, that means it's not a stable coin, but I personally prefer to swap it directly into fiat money, because some exchanges already support it.
legendary
Activity: 2086
Merit: 1282
Logo Designer ⛨ BSFL Division1
September 27, 2019, 07:10:09 AM
#9
DAI stable coin looks interesting, but it has very low trading volume.
Probably Tether needs to be banned or charged so we can see more volume on DAI
and on all other stable coins.
Question is will this ever happen  or Tether will still flow in this grey area?
sr. member
Activity: 1176
Merit: 252
September 27, 2019, 07:01:19 AM
#8
I support projects like that. when a lot of stable decentralized coins are out there, it will open up opportunities for other businesses. now there are quite a number of stable coins out there, not just DAI, and I think there are enough people who are interested in that, especially if the system is decentralized.
full member
Activity: 1820
Merit: 107
September 27, 2019, 06:40:06 AM
#7
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 heard a lot of DAI and read how it was working to become a stable coin, DAI was not backed by fiat or whatsoever It was backed by Ethereum thats why its uniquely tied with also a cryptocurrency to make its value stable, But honestly im not holding DAI or using it since i was prepare to use USDT for a long time already to be honest IMHO i dont care if those stablecoin was not fully decentralized after all its just a stable coin and dont fluctuate much like the cryptocurrency does. thats why im not holding it for long time or it was just transitional usage to make my holdings value and price stable for awhile.
member
Activity: 338
Merit: 10
StartFi
September 27, 2019, 06:29:28 AM
#6
Decentralized stable coins are good and in the future I see it being used a lot, But currently Tether,USDC etc.. are used more. I don't wish to hold a lot of USD, If I wanted to, I'd consider using DAI. (There probably will be more decentralized stable coins).
I prefer to hold USDT because this is the safest stable coin in this market and until now this coin has always maintained at $1. High trading volume and high liquidity are the reasons why investors choose USDT so there is no comparable coin. There are actually many stable coins at the moment, and that could have a huge impact on this market because we can't know which is the best coin.
legendary
Activity: 1288
Merit: 1012
September 27, 2019, 05:25:34 AM
#5
Decentralized stable coins are good and in the future I see it being used a lot, But currently Tether,USDC etc.. are used more. I don't wish to hold a lot of USD, If I wanted to, I'd consider using DAI. (There probably will be more decentralized stable coins).
hero member
Activity: 3080
Merit: 603
September 27, 2019, 05:24:45 AM
#4
That kept the price because it was stable because if it won't then it does not belong to stable coins. However, I forgot this one stable coin which was kind of old that lost its value already and that was made as a stable coin. IMHO, Dai is being far from that situation and I'm not even holding or converting my funds to DAI or any stable coins out there. With the other stable coins in the crypto market today, I hope that there will be no addition anymore to the list.
sr. member
Activity: 1246
Merit: 306
September 27, 2019, 05:17:38 AM
#3
Dai, i remember seeing this project again and again in the platforms that i use for crypto such as HuobiGlobal, Coinbase and the other highly trusted blockchain projects. Dai proved itself, it did gather my interest in it. I would love to try it someday but i'm still confused between Dai and USDT and USDC and the other stable tokens/coins. It's good to have them around but regulating them and inspecting their supply regulary is a must. I do promise you that i'll use Dai oneday. It rocks!
member
Activity: 490
Merit: 10
September 27, 2019, 03:59:43 AM
#2
DAI stablecoin is the best solution nowadays. All other stablecoins are backed by USD and not by 100 percent, which leaves a lot of space for money laundering. DAI is a decentralised solution which is the most obvious choice for me.
member
Activity: 156
Merit: 14
September 27, 2019, 02:06:52 AM
#1
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?
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