Bitcoin Forum

Hello，I have an idea. Make one.“Create a perfect decentralized stable coin $USGD”.
Gravitation will use a perfect token economic model ,distribute through the smart contract of Ethereum ,to create a stable decentralized and consensus crypto currency ,$USGD

1.Nothing in this world,including crypto coins is perfect.
2.Decentralized is a buzzword.Many crypto fanatics use it only because it sounds cool.
3.Smart contract and ethereum?I guess you mean creating just another bullshit ethereum token,that is going to be "revolutionary" and "disruptive",and in the end, it will die like all the other shitcoin ethereum tokens.
4.Stable?Well, we have Tether...

A decentralized stable coin is a very bad idea and how you can make it stable if you are not having something to backed your token and don't say you have your own formula to do that because that will never work dude. It's impossible to create a perfect economic model.
A stable coin just like qdao that built in ethereum platform even used bitcoin as its backed to make usdq becomes stable.

Gravitation? how's that kind of algorithm consensus goes? we have plenty of stable coins already and I don't think that there will be people who are interested of getting that decentralized stable coin.
Stable coins has to be backed up of dollar or something in terms of currency which to be proven. If not, people wouldn't be buying or using that kind of stable coin thus, we really have a lot of those coins already.

Instead of a decentralized stable coin, i rather see one large decentralized network connecting all the
decentralized exchanges (DEX's), so that liquidity can move freely among these DEX's.

Well said.
OP if you would like to see how it looks when amateurs create stable coin, look at the project USDX. And I bet they will not be the only stablecoin where it did not go as planned. You need a big collateral which should be transparent to make your coin trustworthy.  :)

Your ideas seem to be available in the market. Ethereum's smart contracts are used by hundreds of projects and it doesn't make a big difference.
If you make a new stablecoin, I think you will definitely fail because we already have PAX, USDC, USDT, TUSD, USDQ, ...
You should choose a more potential market to start a business. ;)

What you have to understand is, Making a coin is not easy, because usually the coin is born through the project, and to run the project certainly requires a team that is experienced, so that everything can be smooth, I really appreciate the idea you put out, but to make it really not easy .

Before we are talking about making a decentralized stable coin, we need to understand the most basic thing about a stable coin which is a reserve. It can be considered as a stable coin if it has something to back it up and pair it. It is totally impossible to create the so-called stable coin if you are implementing decentralization inside it. Because nobody can stabilize the price and it has nothing to cover it up. It is out of option right now

You can actually create a decentralized token "backed" by parent coin and regulated by algorithm to maintain the stability. I think Ethereum based tokens like DAI work in this way. They have their problems though but quite real than fiat currencies because of the transparent nature of Blockchain and they won't be that easy to print it out of thin air. Fiat currencies ought to be ran this way of you ask me

I don't know why would we need yet another stable coin.
Even if yours would be "perfect" (although perfection doesn't exist), people will use the ones they're already happy with. Unless you have FB money for advertising, it may remain just "an interesting project".

(And I'm also not convinced how will you make it stay stable.)

The Creation of a coin  itself, is not an easy task and to talk of one big stable coin that is decentralized . There are a number of stable coins on the market that are doing fairly well. We cannot have a perfect system in place since there is nothing perfect in the world.

How can you make a coin stable with its price when it is decentralized? What makes a coin stable is because it is pegged to something of value. Like USDT is pegged to the US dollar. What will your decentralized stable coin be pegged to?