Bitcoin Forum

So I'm doing my research about stablecoins and so far there's 3 categories of them:

1. Fiat-backed
2. Crypto-collateralized
3. Algorithm-backed

I've been a big fan of 2 and 3, especially Fragments. What are your favorite?? Wish I had more room to include others, but from what I've seen these are the top (aside from Tether).

The best future stablecoin is Bitcoin. Tether is just like fiat. It's a manipulated coin, printed out of thin air, that the owners know is insolvent. The proof for that is them not wanting to audit it and faking audits by saying they are auditing themselves, which we all know is a joke. No sane CEO would say publicly that the company is auditing itself and everything is fine.

I'll choose that's backed up with fiat. That's how stable coins should be, there's a real money behind it and it's not just printed from nowhere without any evidence if the value is really worth to its printed coin.

AFAIK, GUSD and USDC are fiat-backed stable coins.

the fiat backed and crypto backed stable coins are similarly centralized and that makes them terrible in my opinion specially since most of the companies creating these coins are either very shady (like Bitfinex creating Tether) or are creating them to make money from processing transactions because they saw a need and trying to exploit it.

the Algorithm-backed stable coins "sound good" but i have not yet had time to study them to make up my mind. but if anything has a potential of being a valuable stablecoin it is this category of them.

$UNO

Bitcoin is not a stablecoin though.... and yes tether is a crypto abomination.


I think Ampleforth is a unique solution since they have an elastic protocol to adjust supply when the market changes. This is one worth looking into. https://www.ampleforth.org/

Agreed. I think with algorithm backed coins it depends on how the algorithm works. In Ampleforth's case, I love their idea of an elastic supply protocol. This is from their site:

How come no one's voting?

I personally voted for Ampleforth mainly because of their value adds and how they're disintermediating central inflation. I recommend everyone read their whitepaper. Really fascinating stuff IMO.

wp - https://drive.google.com/file/d/1I-NmSnQ6E7wY1nyouuf-GuDdJWNCnJWl/view

same. Voted for ampleforth. Been pretty big today in the news but I like their model and I think they bring a good solution that the world needs to adopt crypto

Does anyone have a comparison between ampleforth and basis?

very good. the research is very simple, is there something more interesting about the three points above?

I don't like many of these coins, because they are not build to stay stable for the long term. However, I would go with the current Gigzi project. This will, in my opinion, be better than many "stable coins". Because, the main goal of this project is to back crypto-assets with Gold and precious metals price, so it is more stable in the long-run. Gold has a more stable price than any other asset. So this Gigzi platform should see great success using "Tokenized Precious Materials", in the coming months..

Ampleforth aka Fragments gets the most votes, but I am not very familiar with this stablecoin, can you give me a link about Fragments?

I personally do not use stable coins, but if I had to choose, I would put the Crypto-collateralized in the first place

Yup. Their website: https://www.ampleforth.org/

whitepaper: https://drive.google.com/file/d/1I-NmSnQ6E7wY1nyouuf-GuDdJWNCnJWl/view

Just curious about which one of them that has already created or published the transparency about how much-reserved funds available in the hot wallet?
I don't even think if this one should be mentioned https://coinmarketcap.com/currencies/synthetix-network-token/
Only fiat backed can still remain stable on its value.

thanks for the help, I was just curious because there were many people who chose it. okay, I will immediately see and check it out.

I'm going for TUSD or USDC for dollar denominated stable coin. Using a stable coin pegged to USD preserved the value of my portfolio in this bear market.

Thoughts on ampleforth's model? That would be great for remittance and trading too. Read about their model on their site: https://www.ampleforth.org/

funny to see that not a lot of people voted. could it be that there's a huge onslaught of stablecoins in the market? How can we tell good stablecoins like ampleforth from terrible ones like tether?

More and more stablecoins are created and guaranteed by big foundations but general in the future, these coins will be controled by them and be very centralized. I think when this market is more stable, Bitcoin will be the best stable coin

bitcoin will never be a stablecoin lol. we have to look into less centralized options like ampleforth since they have a smart contract that inflates or deflates the supply based on market demand

I am favoring the  option 3  which is algorithm backed stable coins like DAI. I like how the incentivising  mechanism solution works.
It is decentralized and this is why I prefer DAI.

have you looked into ampleforth? algorithmic but has an interesting twist. https://www.ampleforth.org/

Currently I use Tether (35%), Paxos (15%), USDC (15%), TUSD (27%), GUSD (8%). I don't think that we should have the only one favorite stablecoin. It's unpredictable market and as investors we should deversify the capital as much as possible.

What's the sense of diversifying to different stable coins?

Yea I'm curious too...

I'm really just waiting on Ampleforth to lauch tbh lol.

I do not see any prospects in stable coins, as it seems to me, they would very well be suitable for replacing fiat money, but this will most likely be more interesting for governments!

...well I guess it's time to take basis out of the running lol  :P

my vote is for ampleforth