We have Bitcoin and it is a very good coin.
Many people are in favor of Bitcoin because it is a store of value and we can hedge inflation against it.
But many people are afraid of Bitcoin’s volatility because Bitcoin has been very volatile. For example Bitcoin was at 31,000 USD last year in summer, at 42,000 USD last year around christmas and is at 69,000 USD now. It is still very volatile.
To solve volatility, many people have bought so called stable coins.
A stable coin is a stable coin because it is stable - not volatile. But when reviewing such a stable coin, we can spot many dangers:
Only 1 or 2 bad stable tokens which are not backed. The rest is fine. So, With what people saved the value of their assets if it was not going through stable token? BTC can make you lose even you did nothing. Converting it to the fiat money? no way!!!Many people are in favor of Bitcoin because it is a store of value and we can hedge inflation against it.
But many people are afraid of Bitcoin’s volatility because Bitcoin has been very volatile. For example Bitcoin was at 31,000 USD last year in summer, at 42,000 USD last year around christmas and is at 69,000 USD now. It is still very volatile.
To solve volatility, many people have bought so called stable coins.
A stable coin is a stable coin because it is stable - not volatile. But when reviewing such a stable coin, we can spot many dangers:
I ain't willing to pay fees anytime when i was converting my fiat to the stable token.
Stablecoins are no solution
Stablecoins are no solution. It might be stable for some time and can work but at what cost? At a high cost!
LOL you are too late to saying this. Been years used stable token and nothing happened. Stablecoins are no solution. It might be stable for some time and can work but at what cost? At a high cost!
It's a fiat money!!!!!Unbacked stablecoins should be illegal
Unbacked stablecoins should be illegal. Because why should it be allowed to provide such a crap and have no insurance?
Every distributir of stablecoins should prove a backing of such stablecoins.
I fit is a 1-Dollar stablecoin, it needs tob e backed by 1 dollar.
If it‘ not backed, it should not be allowed tob e traded because it is huge risk for boyers in case it is getting hacked or collapsing.
For our coins to be safe, we need to avoid unbacked stable coins because of risk.
Unbacked stablecoins should be illegal. Because why should it be allowed to provide such a crap and have no insurance?
Every distributir of stablecoins should prove a backing of such stablecoins.
I fit is a 1-Dollar stablecoin, it needs tob e backed by 1 dollar.
If it‘ not backed, it should not be allowed tob e traded because it is huge risk for boyers in case it is getting hacked or collapsing.
For our coins to be safe, we need to avoid unbacked stable coins because of risk.
If you meant about algoritmic stable token and i'd said yes but since there have been many stable tokens were fully backed and this is also making the situation even better. Many people have avoided any unbacked stable token now.