Bitcoin Forum

What would you guys think about a stable coin that could always be cashed out and would keep it's value with maximum fluctuations of 1%? I'm thinking about making one but I first want to hear what the community has to say to it since it would be a lot of work to implement these features. Any thoughts? Please tell me :D

Not really a fan of the idea. If it had some great use and could be similar to actual doallrs then yes, but otherwise I like my coins to be good investments that can grow and pay more.

Well the idea behind it is that you could trade this coin for other coins and secure your capital when bitcoin price is to high by buying this coin, then when bitcoin drops you can sell this coin again to make a nice profit. The coin can also be used to complete transactions and is able to be used for payments with a stable coin that can always cash in whatever happens to the market, you would also be able to buy this coin on the website instead of buying coins on another place so you buypass a lot of the fees. I mean yea it's like any coin basically exept that you can cash it out even when nobody want's to buy it so you never lose your money.
Edit: yes it would be similar to actual dollars because it would always be possible to cash them out whatever happens, for each coin i wanted to be backed by 1 euro that you can always claim in exchange for the coin.

Yes, same here, why do we need a stable coin in the first time? Much better to stick with dollar then?

The objective is to make money, if the coin is stable then it would not gain traction amongst us here in the community. It will be like your money in the mark with annual interest.


I'm sorry mate the only thing that it can be used is for online payment only. Again, I believed that the price fluctuation or volatility of a coins attracts people to invest on it. If that is removed, then I don't think that the community would put their money on that coin, because it will be just like the old and traditional fiat system.

If you mean a coin that won't change its value in any ways then i think Tether is what you are looking for. The price is at most $1.01 and at least $9.2 for its whole lifetime since released

In my opinion, you can't find that kind of coin. That fluctuation is too low for a coin that is good enough to be used in transaction. I think one characteristic of a good coin is having patrons to use it. My theory is, users plays a role in fluctuations of price and greater number of users creates greater variation in price, so 1% fluctuation will be hard.

there is already that kind of cryptocurrency. The coin is called tether or USDT. It is currently ranked number 19 in coinmarketcap

If you are looking for a stable coin to the US dollar - then tether. LOL

But seriously I would say Ripple is the most stable cryto to FIAT.

The most stable cryptocurrency is, and will continue to be Bitcoin for at least the foreseeable future. Stability is essentially dependent upon how big of a market cap any specific crypto has. The more money invested into it means the more stable the price will becomes, seeing as it takes more money to influence the price. Currently Bitcoin's market cap is still under $100 billion, which means there are still individuals who could drastically influence the price at any given moment. However, generally speaking most alts are subject to great instability as most millionaires have the power to influence their markets greatly, let alone billionaires.

the currency must have a utility in the world with a solid project to back it up, thus it will have stability

There is no way basecoin will work long term, I ready an article about the project and the most obvious questions asked have not been answered, Crypto is very volatile until this volatility reduces significantly no stable coin will succeed long term, just look at Bancor and check disparity between the value and Ethereum that was promised during their ICO

So, would you try to remove the double coincidence? I just curious about your answer. Just to make a speculation that was very easy rather than try to solve the problem in this time. Many people can do like that to dream about something.

@N1C39UY You may like to see the ARC Reserve Currency - www.arccy.org (http://www.arccy.org) - a stablecoin.

As for use-cases; beyond solving the challenge of crypto-fiat translation (for people reverting to fiat for stability); it can:

(1) act as a safe-haven currency for any user that has concerns about their existing wealth (e.g. in a high inflation fiat context; or in a high speculation crypto context).
(2) facilitate better liquidity on exchanges
(3) provide a benchmark series data for measuring the performance of other cryptocurrencies and alt coins (as well as pricing goods and services)

there are a bunch of projects like this

tether for example but also asset pegged cryptocurrencies, are stable if executed correctly

regards

Tether is the absolute stable coin out there currently