Bitcoin Forum

I read a few weeks ago that stablecoins are spreading around and exchanges are embracing them. In the long term, having multiple stable coins could save us, at least one could sleep better at night knowing that the market won't crash in a matter of seconds because these coins are not controlled by one entity and manipulation won't do much to the price.

Also, I was never a fun of Bitfinex and Tether.io, they never look transparent for me so I'm currently looking for an alternative, which is the best alternative stable coin right now? preferably being traded in multiple exchanges as well where there is no KYC needed.

The stable coins are always issued by one single company which may go bankrupt or scam.
Moreover, in order to cover the fees and maintain the stable rate, they issue more coins than they get real money.
The situation gets just like with the FRS that simply prints banknotes.
Stable coins are fine to save your funds when the market goes abruptly down, but in the long-term perspective, I wouldn't rely on any of them.

Im also not a fan of stable coins but if i need to trade or own them then i will be comfortable with usdc because it is backed by solid crypto companies like coinbase etc so i will feel safe with usdc.

there is one that was just in the news very recently which is the CarbonUSD the first stablecoin on the EOS platform.  its said to have low fees in this article https://www.coindesk.com/carbons-stablecoin-can-now-be-swapped-between-eos-and-ethereum-blockchains/ its very much easy to trade when stablecoin is around, the only you wait are the bulls.

I am willing to hold transparent and regulated stablecoins. The market now has many stablecoins. This has increased the competition of all kinds of stablecoins. This is conducive to the development of the market and the maintenance of market stability.

I want to upset you, it will take quite some time and we will not see cryptocurrency exchanges without KYC / AML. This week I was very surprised when I read the news that SEC took the balls of the founder of the decentralized exchange "EtherDelta". We need decentralized exchanges, where no one will know their founders)))
About steblcoins, it seems to me best to keep not in one but in several, it minimizes your losses in case of any circumstances!

One of the best things that can happen in order to protect the interests of investors is to have more than one stable coins. It's good that we already have that and that the power of monopoly of the previous had benn removed. At least, it eliminates or reduces the rate of fraud. This also ensures that investors have the options of falling back on any peradventure the other is affected.

Actually stablecoin is controlled by one entity and that is the company itself that issued the stablecoin and have the backed up asset behind that stablecoin whether it's USD or any other currency or even gold.
If it's not intervened by that one entity then it won't become stablecoin, simple as that.

More stable coin options will help investors better counteract volatility and provide alternatives to Tether (USDT)

USD Coin (USDC) is available to trade at a number of exchanges including KuCoin and Hotbit: https://coinmarketcap.com/currencies/usd-coin/#markets

Paxos (PAX) is tradeable on Binance and Hotbit + more: https://coinmarketcap.com/currencies/paxos-standard-token/#markets

The way and manner in which stable coin are minted still a confusing one for me are they also have no of coin in circulation but in a situation where more investors get to convert to them , won't it go beyond the circulation number, and this is where am afraid of them as the team might claim that more coin are minted , so I see them as normal currency which can be printed at any time, go back to fiat is still more ok for me .

I think TUSD is the best alternative to stablecoin. It is highly appreciated by investors and it is completely different from USDT. It has become safer and investors are not afraid of being scammed. You can use TUSD to replace USDT.

Im not a fan of stable coins and I dont hold any of it. What do you think about the combination of Coinbase and Circle with USDC as their stable coin which is backed up by real dollar.

Theres also Gemini dollar(GUSD) by gemini.