Quote from: jseverson on October 17, 2018, 03:31:19 PM

Quote from: Betwrong on October 17, 2018, 02:34:23 PM

With some effort I can understand the demand for one of them, but why there are so many of them and why even more are going to be issued? Does this mean that previously issued "stable" coins need improvement? Or, maybe, it means that older coins have compromised their reputation already and people expect that new ones will be more trusted?

Probably because issuers are making money out of them? Having their own must strengthen their ecosystem or something because they won't have to rely on someone else's.

Newer ones like Circle's USDC are apparently more trustworthy because they're issued by a regulated entity, but I'd have to read up more about them. USDC specifically is also trading above the dollar right now which might mean that people are dropping USDT for them.

This is what I really can't understand. What was the point of buying USDC for $1.11, like it was traded 3 days ago with almost $10 million daily volume, if it was obvious that the coin would cost exactly $1 soon, because it is a "stable coin" by definition? What were the expectations of those people who were buying at $1.11? Were they thinking that USDC would go to $2, or what? And today, when it is $1.01 can we say that they lost 10% of their investment, Or is it more complicated than that?