Bitcoin Forum

Tell me plz, is there any coin tied to the dollar?
It is necessary to conduct operations, but because of high volatility, bitcoin is not suitable.

We do have Tether.to (USDT) which is totally backed by the U.S dollar or so they claim (1 USD = 1 USDT). It's dangerous though, as It already lost value in the past due to some issues with the banks they deal with etc.

Yes, the dollar

Maybe you would want to trade forex instead?

Hello,

    Why would you want to marry a deflationary cryptocurrency with an inflationary fiat currency?

    These are antithetical pairings because the cryptocurrency would generally have a fixed money supply whereas fiat generally runs the printing presses to continually circulate and introduce new specie into the supply.

    Here's the narrative.  Foocoin comes along with a total money supply of 1,000 FOO.  The developer decides the value of FOO should be tied to the official currency in Venezuela or Zimbabwe.

    Overnight, Venezuela and Zimbabwe devalue their currency by a factor of 100.
    Now Foocoin are worth 1/100th of what they had been initially even though they're still worth the same amount of shitfiat from Venezuela and Zimbabwe.

    You're essentially asking for dollar proxies, which would be yet another debt receipt.
    The purpose of these new digital currencies is to resist the inherent problems of inflation and fractional reserve lending.

    Watch The Money Masters (https://www.youtube.com/watch?v=ByFfzMORXSM) for a historical perspective and better insight into global money scams.

    In other words, unless you expect the dollar's money supply to be fixed; with all other things being the same, tying a cryptocurrency to the dollar guarantees a loss.
   
Best Regards,
-Chicago

tether works ok, polo, bittrex, kraken..

Definitely related because the coin meeting then on sale and turned into dollars that of course ,,, and strongly related

The only value I see in USDT, in theory, is as a way to temporarily park your funds in pseudo-fiat instead of incurring heavier fees converting to/from real fiat. We're talking short time periods here (for example to take advantage of bitcoin falling 30% this past week). However USDT has had trouble keeping the 1:1 peg stable, and liquidity is an issue especially for larger sums, so I don't think it's worth the risk.

is bitUSD the same thing as USDT (Tether)?

Its really good information i dint know about Tether.io (USDT) in a past but i wonder how this lost value still it is showing value of 1$ . Lso i found some other coins BITUSD,COINO,USDE.

They work differently. USDT is backed by actual reserves held by a company, bitUSD is backed by BitShares guaranteed using a smart contract. Both are supposed to be 1:1 to the USD but can fluctuate based on demand/supply.

USDT fluctuates more because withdrawals/deposits are usually slow, and it isn't as robust as a smart contract based currency.

Ah, thank you.  Would you say bitUSD is decentralized, or at least much moreso than Tether?


Here's some info bitUSD and Tether:

bitUSD market cap: 4M
Tether market cap: 300M

bitUSD 24h vol: 248k
Tether 24h vol: 186M

Exchanges with bitUSD: ( http://coinmarketcap.com/assets/bitusd/ )
BitShares Asset Exchange
OpenLedger DEX

Exchanges with Tether: ( http://coinmarketcap.com/assets/tether/ )
Poloniex
Bittrex
Bitfinex
Kraken
Liqui
Cryptopia
OpenLedger DEX
C-CEX
Omni DEX

We need bitUSD on more exchanges.  These stable coins are very useful since most people in crypto don't actually want to move to fiat, but merely hold value during bear markets.

tether has much more liquidity.