Topic: What is a stablecoin? - page 3. (Read 1038 times)
Stablecoins can replace usd and tether in the future one of the recent quality stablecoin project i have known is Havven and i think it has huge potential for future.
The main problem of any stable coin is the lack of transperancy! All of them are centralized and any amount of tokens can be issued! Just look at the Tether! They have printed 120 mil more tokens! And how can I ensure that all of that 120 mil tokens are backed?? It is not the decentralization at all, the only connection with blockchain here is just the name "blockchain project"
Well, there are plenty other stable coins, as Heaven or LibreCash. As for the last it is based on ETH smart contracts and all the info about backing is visible, u may check any time u want how much are backed and how may tokens is issued. TrueUSD is also a good option
The main problem of any stable coin is the lack of transperancy! All of them are centralized and any amount of tokens can be issued! Just look at the Tether! They have printed 120 mil more tokens! And how can I ensure that all of that 120 mil tokens are backed?? It is not the decentralization at all, the only connection with blockchain here is just the name "blockchain project"
The prime function of a stablecoin is stability.
In these times of volatility, people are looking for a stablecoin because they want to be sure its value tomorrow will be predictable and close to today’s value.
This criterion favors fiat-backed tokens as they will track the price of the underlying asset rather than other digital assets and therefore most of them are easy to value... for example Tether and their cryptocurrency USDT pegged to the US Dollar.
But it was recently announced that Tether received subpoena from the U.S. Commodity Futures Trading Commission (CFTC). Would you agree there is room for improvement? What other stablecoins do you know/support?
In these times of volatility, people are looking for a stablecoin because they want to be sure its value tomorrow will be predictable and close to today’s value.
This criterion favors fiat-backed tokens as they will track the price of the underlying asset rather than other digital assets and therefore most of them are easy to value... for example Tether and their cryptocurrency USDT pegged to the US Dollar.
But it was recently announced that Tether received subpoena from the U.S. Commodity Futures Trading Commission (CFTC). Would you agree there is room for improvement? What other stablecoins do you know/support?
I actually do not know much about BITCOIN but I will try to continue to find out, and one of them answered your question about what is STABLECOIN ?.
My answer is: at any given time the price of coin is in the stock market.
Stable when all coins grow continuously on a daily basis
In this capacity, in recent months, Litecoin has proven to be very good. Therefore, I personally bet on him.
in my opinion there are so many coins but the stable coin is only bitcoin because this is trusted and profitable coin and give profit to customers.
Most of the time I use the USDT, because the USDT is pegged to the exchange rate, so most of the time when the whole market has a big drop, I want to hold the USDT as a wise choice.
A stablecoin is an asset that offers price stability characteristics, which makes it suitable for certain functions, such as a: medium of exchange, unit of account.
Not really that knowledgeable about this, but my impression is that stable tokens are only stable up to a point. The problem is that keeping them stable can be expensive if the underlying prices are fluctuating, and so when they fail, the effects can be pretty devastating.
I would have a look at DAI which is a token on ethereum (as USDT too). It is pegged to the Dollar in the form of a complex contract. It is backed by Ether as a collateral. I currently hold a bit of USDT and DAI to spread risk. The main risk of DAI is that it is new and has to prove it being stable in market crashes yet.
Do u know a lot about architecture of this DAI token and its applicability?Saw a lot of articles about this new token recently, and don`t understand at all its relations with Maker. Could you pls tell in details about perspectives of this DAI?
The prime function of a stablecoin is stability.
In these times of volatility, people are looking for a stablecoin because they want to be sure its value tomorrow will be predictable and close to today’s value.
This criterion favors fiat-backed tokens as they will track the price of the underlying asset rather than other digital assets and therefore most of them are easy to value... for example Tether and their cryptocurrency USDT pegged to the US Dollar.
But it was recently announced that Tether received subpoena from the U.S. Commodity Futures Trading Commission (CFTC). Would you agree there is room for improvement? What other stablecoins do you know/support?
In these times of volatility, people are looking for a stablecoin because they want to be sure its value tomorrow will be predictable and close to today’s value.
This criterion favors fiat-backed tokens as they will track the price of the underlying asset rather than other digital assets and therefore most of them are easy to value... for example Tether and their cryptocurrency USDT pegged to the US Dollar.
But it was recently announced that Tether received subpoena from the U.S. Commodity Futures Trading Commission (CFTC). Would you agree there is room for improvement? What other stablecoins do you know/support?
stable coins are actually only stable through its myth, mostly but to a not insignificant amount through its convertability, the us dollar is currently only beeing considered valuable because people belive in some kind of financial cartel for the us dollar,
regards
I would have a look at DAI which is a token on ethereum (as USDT too). It is pegged to the Dollar in the form of a complex contract. It is backed by Ether as a collateral. I currently hold a bit of USDT and DAI to spread risk. The main risk of DAI is that it is new and has to prove it being stable in market crashes yet.
The term stablecoin is used to describe cryptococci that are immune to, or at least very resistant to changes in price and volatility. In the words of Hackernoon author Haseeb Qureshi in an article about stablecoins, cryptocurrency "can not be an effective value benchmark if the price fluctuates 20 percent on a typical day."
The idea behind creating stablecoin is to let ordinary people get paid for crypto, spend it, and get all the benefits that crypto offers without all the risks. Although this sounds like an interesting idea, how can it be done?
The most famous effort to create stablecoin, US Dollar Token (USDT) by Tether has been mired in controversy and suspicion in recent months. Tether promises that their currency is essentially an IOU for one US dollar. Some experts even suspect that Tether does not maintain the same amount of US dollar reserves, and may operate on a reserve basis.
The idea behind creating stablecoin is to let ordinary people get paid for crypto, spend it, and get all the benefits that crypto offers without all the risks. Although this sounds like an interesting idea, how can it be done?
The most famous effort to create stablecoin, US Dollar Token (USDT) by Tether has been mired in controversy and suspicion in recent months. Tether promises that their currency is essentially an IOU for one US dollar. Some experts even suspect that Tether does not maintain the same amount of US dollar reserves, and may operate on a reserve basis.
For I know, the most stable coins is not exist. Even though the USDT and QC( USDT is equal to US dollar, QC equal to China RMB). This is a investment market, so the absolutely stable is hard to maintain.
The prime function of a stablecoin is stability.
In these times of volatility, people are looking for a stablecoin because they want to be sure its value tomorrow will be predictable and close to today’s value.
This criterion favors fiat-backed tokens as they will track the price of the underlying asset rather than other digital assets and therefore most of them are easy to value... for example Tether and their cryptocurrency USDT pegged to the US Dollar.
But it was recently announced that Tether received subpoena from the U.S. Commodity Futures Trading Commission (CFTC). Would you agree there is room for improvement? What other stablecoins do you know/support?
In these times of volatility, people are looking for a stablecoin because they want to be sure its value tomorrow will be predictable and close to today’s value.
This criterion favors fiat-backed tokens as they will track the price of the underlying asset rather than other digital assets and therefore most of them are easy to value... for example Tether and their cryptocurrency USDT pegged to the US Dollar.
But it was recently announced that Tether received subpoena from the U.S. Commodity Futures Trading Commission (CFTC). Would you agree there is room for improvement? What other stablecoins do you know/support?
Jump to: