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clearly you didnt understand, if this coin was backed by a dollar then the whole concept would break apart again

Stable coin cryptocurrencies are also usually encrypted with the same means so that doesnt really make it an advantage

exactly the issue that gets solved with what im proposing

It has been relative for the entire history of humanity, even currently USD is inflating so the so called stable coins arent actually stable, what im proposing would create true stability

Think of it like this, the price of bitcoin is volatile, some times its $10,205 some other time its $9,856. Suppose we take a screenshot in time and the price at the time was $10,000. What this proposed coin would do is be pegged to the value of $10,000.

Now replace bitcoin with the US dollar and replace $ with absolute value.

If I do what I state in the previous example, the coin will have a value of $10,000, but the value of the dollar itself fluctuates, which I can complete rule out be pegging it to absolute value instead of the dollar.

i dont think you quite understood what im proposing here,  1 btc = 1 btc is just bitcoin itself, there is nothing like what i am proposing right now on the market, the implications could be huge, it could be used for usd/value trading without having to pick another stable fiat currency to pair it with eg usd/eur, or you could trade btc/value which over a longer term would give an exact price value realization of the past prices.

stable coins are useful for traders to exit day trading and keep the daily earnings, I like it very much that once tokenized in cdai, idai, sdai through defi sites it can give interest of up to 8% per annum through staking, then there is ekon which is guaranteed by gold and have a swiss based company...

The question that probably never be answered is: Centralized Stable Coin or Decentralized one? Or backed by a dollar or backed by collateral like DAI?
Who knows, this industry is pretty young and until something very bad happens we won´t know it.

As already said by Dabs there are already stablecoins based in euro and I believe TUSD are the first to create one but I'm a kind of person that don't totally believed in stablecoins which are backed by fiat currency because incapable of fiat currency was the reason why crypto came into the picture.
I read an article which says

There are already stable coins based on Euros or other currencies. They're just not as popular as the USD based stable coins because ... more people would prefer to use USD than others except for their own country if a stable coin exists for their fiat currency base.

There is the issue, stamble coins don't mean they will always have the same value, that means it will have the same value against some local coins, and that coin now days is USD dollar. But if the dollar goes up, then the stable coin goes up with it. And the ones who get really affected are 3rd world countries and other countries who don't have dollars as main value.

Maybe in the future we will have some stable coins based in Euros or Rubles.

I've been trying to send you a pm.. can you either pm me or change your settings to allow newbies to pm you?

Tether and other stable coins including Dai are starting to explore multi-collateral models, this should in theory solve the scalability issue, maybe not as fast as algorithmic stable coins but I don’t see one of those gaining any traction now.

It depends on how you define stability. Stability is never absolute, it’s always relative, and it exists in people’s minds and have never been objective.

What people conceive as stable, is actually what they are used to, the world is used to price things with USD, the majority of people would think USD is always stable, introducing a new standard that is pegged to say gold, real estate, farmlands, or other assets that are considered relatively stable would not gain any traction because that is not how people think.

One possible exception is if USD goes into some hyperinflation is a short period of time that causes a lot of pain, if then and only then people will start looking for alternatives to price things, and a new standard of stability would be introduced.

In a lot of the whitepapers this was mentioned, a project named Fragments (I think they changed their name into something else now), and also one of my favorite project called Reserve, in the whitepapers they have both mentioned if the value of USD starts to drop so much, they’d starting pegging their stable coins to a basket of goods, whatever that may be.

Do this as a thought experiment, if Reserve starts to peg their stable coin to a basket of goods today, and not USD, would you consider is stable? Can you imagine exchanges start pricing BTC with Reserve and gain adoption? Probably not.

I'm still struggling to wrap my head around the concept.  Can you explain it in a few sentences?

Algorithmic solutions are going to be the way forward, there is a limited lifespan for fiat-collaterialised stable coins.

Put it this way, Tether is far and above the most successful and widely used stable coin today, it was created in 2014, and there's been nothing that has outperformed it yet.

The total marketcap of Tether is 4 billion, how much USD would need to be held by Tether in order to provide a service to the other 99.9% of the world that isn't a part of crypto markets?

Can one company be trusted to hold that much wealth and no either accidentally or maliciously mismanage it?

Same problem for any fiat-collateralised solution.

Why even bother if you're going to peg it to a fixed time USD value, might as well just keep it at 1 BTC = 1 BTC. That's forever stable.

Since USD is centralized, USDT or Tether is the closest thing, what you would need is for some bigger corporation or even a government to back the stablecoin with the fiat. More than likely, it might just create more just like fiat does, but it can do so any time indirectly by getting fiat first.

The real question is asking "if functional, widely used and trusted currencies have been instable to a degree in the past, why are people caring about perfect stability now?"  No one that uses a stable coin needs it to be perfectly stable to anything.  Just stable enough so that they won't lose non-trivial sums during a period of buying and selling it for a real world asset like USD.

Any stable coin that is useful, until the day that fiat currencies aren't the overwhelmingly primary way to buy things is the real world and receive payments in the real world, needs to be able to hold value against fiat currency.  Even if you created the perfect fixed point currency which didn't need to peg to USD etc, say it was pegged perfectly to any non-stable cryptocurrency, or even pegged to an arbitrary line drawn on a chart that didn't represent anything, or even a perfectly straight line on a chart that didn't represent anything, why would anyone transfer their real world value into something that will most likely yield back significantly less real world value at some point.

I think the winning candidate will start out being pegged to USD (as it has to right now), then have a mechanism to transition to being pegged to gold in a financial crash scenario (as it will then become the most reliable peg possible), and then have a mechanism to transition to setting the measure of stability itself (because this should be the obvious goal of any fixed point currency).

I find this chat interesting, and am currently working on novel ideas for a stable coin based on looking at the collateralised and algorithmic solutions that have been (publicly) explored so far, and then trying to look in the gaps.

One of the more interesting points here, is how often people say that stability might not be able to be achieved.  It's interesting because stability is not just relative, but also subjective.

To finish that point I wonder whether the reason that every "stable coin" solution to date has glaring issues and imperfections is because of a malformed premise.

Secondly is that the key, I think, is instead of focusing on the mechanism and as an afterthought - the goal, stay transfixed on the goal.. of the users.

By far the most promising route to a new currency paradigm stemming from the early beginnings of "stable coins" that we're in now are the algorithmic options, and especially their overlap radical value fluidity.  

A good example of this is Ampleforth, although I don't really like the model because it's not suitable for widespread use at all.  But the idea of shifting 1 token worth $2USD into 2 tokens worth $1USD is a step towards the kind of solution that will check all boxes (decentralization, stability, scalability, ultimate reliability) at some point in the not too distant future.

Is there even such a thing as stable price? Prices are always relative to each other, and they always change on free market, whether you want it or not. Authoritarian countries have tried to have fixed prices in the past, but it only caused black markets to emerge. Nowadays central banks are trying to stabilize their respective national currencies by participating on the market, but no one can achieve true stability, they simply reduce the volatility. If governments couldn't achieve stability, how can a startup succeed at it?