Bitcoin Forum

So I've been really exploring stablecoins and stumbled upon one that's not really a stablecoin, but is meant to be a currency for everyday use.

This is how it works quoted from their website: "Tomorrow's money is issued directly to the people. Ampleforth inflates only in response to demand, and distributes directly and proportionally to holders. The system takes no profits from inflation. This prevents balances from being diluted, and aligns users with the network."

They're called Ampleforth and even backed by Pantera, True Ventures, and FBG Capital. Pretty stealth right now, but solid team from google and uber.

Would love your thoughts on their model (website - https://www.ampleforth.org/)

wow backed by all of these firms? must be a good one  :D

OP was shilling for ampleforth and this just another platform that interesting to create another stable coin to be used by speculators. Remember about havven and the team's promise but it has become a failed project when its stable coin can't even stable on its price.

It's pretty obvious that he is jus shilling. Enough with stable coins though, if you can't really take the heat in this market because of its price fluctuations then I guess it's not for you. And Yes, havven was a failed project and I'm not saying that Ampleforth will go on that path, but they need to be smart in order to be successful.

the real question is why would anybody want to use a new centralized cryptocurrency with all its complications, the risks and unstable price (even though it is "called" stable), risk of having your money stolen by the company, the company running away,.... while they can easily use another centralized currency such as Paypal, VISA or their banks which is safer and they have been using it all this time!

you see, the only reason why something like bitcoin is successful and it is growing every day is that it is decentralized.

First we have to think about the security of our tokens/crypto-assets using any stablecoin platform.. I don't think a direct fiat backed coins are the way to go.. because, they proven are not totally stable in price. Moreover, they can be subject to high stealth risk.

However, I see great potential in the Gold and precious metal backed crypto-assets. Gold is way more stable in price. Plus using "Tokenized Precious Metals" like in the Gigzi ico project https://gigzi.com, can really be a game changer.

dude have you guys seen the gigzi shillers? The OP wrote a general post lol.

But wait how did havven fail?? they just rebranded to Synthetix

New everyday cryptocurrency. We all have seen that there are growing cryptocurrencies every day coming from ICO or other projects. That is why we can get many more choices to select. however, not all of them are legit, half are probably scams. Out of that condition, it means that there will be many more coins and tokens on the market, can they survive? both the stablecoins and others?

At first I thought OP is keen to learn something but later I realized OP is shilling. Hey man, stop posting this kinda garbage. By the way, I don't think it will be a successful project because there are some established project right out there.

Well, the competition is now very tight for crypto projects and so if you're trying to establish a new stablecoin then all I can tell you is to work hard

Backed by some known firms doesn't mean anything really. It's just that they are superficially vouched for an upfront price.
You should really take the OP seriously and with a grain of salt.

And the guy you quoted must be his alt.

And be transparent that you really have backed it with real money.