Quote from: bitChipper on October 24, 2018, 07:55:26 PM

Quote from: silent17 on October 24, 2018, 07:01:34 PM

I'm just curious, why do exchange always attempt to create new kind of cryptocurrency that can replace USD?
In my opinion, It's much better if you can just convert it directly to USD, so trader may assure that their money in the trading site is really equal to 1usd.

What is your option on this matter?

A stable coin backed by 1 USD functions better on a blockchain, ya traders could convert it to directly to USD but what if then they want to move it to another exchange? It would have to go through a bank and then to the other exchange. This is why tether was so popular, it was a away for traders to keep away from the volatility but still have the benefit of the blockchain.

As Dimon said ultimately it will be US dollars moving around on a blockchain....not bitcoin, unfortunately he was somewhat right. Undecided

I agree with you on this. This is for the convenience of everyone for we all know that every transactions that should be done using USD will go through a bank. This will lessen the burden and fees.
USDT was made for us crypto enthusiasts to have a safe haven in times of huge dips since its value is stable.

For me the most exciting part of bitcoin and other crypto is its volatility. There's always room for speculations and possibility for us to earn huge profits due to the volatile nature. It would be boring if all crypto values will be stable and fluctuations are predictable. The thrill and excitement which separates us from trading stocks will be gone.