Bitcoin Forum

I just read what it is. Coinbase and some other companies (i think) created it. Instead of sending them to your bank account you can buy them. The value of 1 USDC must be 1$ and it is. Almost. Although I don't think it should be 1$. Who forces me to believe that? Mr Trump?
You get what I mean.

Does it have a USDC core? Or is it centralised?

Yes, the price is $1 because the same as USDT it's a stable coin. Coinbase owns them so they can print depending on how much they have on their vault.
https://www.coinbase.com/usdc

I believe that USDC works much more honestly and decently than USDT.

Coinbase and Circle announce the launch of USDC — a Digital Dollar
https://blog.coinbase.com/coinbase-and-circle-announce-the-launch-of-usdc-a-digital-dollar-2cd6548d237

The well-known company Grant Thornton LLP is responsible for the USDC audit.
Last audit:
https://www.circle.com/blog/usdc-reserve-attestation-report-from-grant-thornton-llp-may-2020

USDC is centralized since Coinbase own them and has control over them.  The good thing about it is that there is a third-party auditing company to verify the value if USDC is actually equal to $1 by auditing or checking the creator's vault of assets if it can really support the claimed value.

Like any other stable coin, it's developped within an exchange to help users freeze their funds during price drops. Some of them become widely popular than expected, but this is doesn't avoid the idea that they are owned by a centralised entity and can be manipulated at any time.
We can't deny that Coinbase is a trusted company, but it's still not sure if the USDC can be trusted as well, as there is a lot of other competitors in the same field. The value of USDC is determined by the dollar value but we can't be sure that it's backed by an equivalent resereve like USDTether.
I don't recommend to invest in it, just use it within the Coinbase platform to freeze funds for a determined short period .

It's centralized. But it's one of the best USD backed coin as the most popular one USDT has failed to justify the numbers of issued coins with the equal holding of USD. USDC on other hand has regular audit from independent third party which is a better.
I too looked into the decentralized stable coin like DAI and others which are escrowed by crypto, which is not what stable coins users want. And by USDT which I would like to omit. It leaves me with USDC and a few less known coins.

Since it is owned by Coinbase and some other companies, then it is centralized just as USDT wherein the only difference might be in the number of users and volume as as well. Also, I do not see any major thing that makes any stablecoin better than others because they all serve the same purpose which is to hedge funds during unfavourable (or bear) market and since most if not all are centralized they are still subject to certain controls by the owners or creators. Therefore, my own mindset is, not to hold any stablecoin for long.

USDC is a centralized stablecoin and Coinbase are in charge, this is a pegged 1 USD digital currency, very trusty enough for me, if you don't like them find yourself a decentralized stable coin instead, like DAI

even though people think so, tether will not be easily defeated, and immediately moved to usdc just because a few people made this news.
I know there are still many stable coins that are more secure than tether (usdt) but the market situation cannot be stopped anymore, most people will still use tether.

I have been using USDC as a trading base with my pairs in Binance. It's quite good because there's several available pairs there as well. When one exchange is accepting USDC, it's quite often that it's going to be widely accepted in another one, if the exchange is reputable, of course.

The causes of this fluctuation might be the trading between two stable coins and the effects of arbitrage between different pairs in the exchange.

Just like the other posters mentioned, it's centralized. Better than USDT, as they said.

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Is there a fight between the two? Lol, I think both could co-exist, it's just that USDC is currently being handled better.

USDC is fine since it's from the popular coinbase itself, I'm just more satisfied with USDT, they are both centralized stable coins but they work fine, I have nothing against Centralized stable coins since they aren't volatile, USDT just have the better support judging from it's huge marketcap

Centralized stable coins are a necessary evil, specially for traders. And USDC is a more trustful of those evils. USDT has a lot of irregularities and they are not being to explain their pattern of issuance and paxos doesn't seem to be as serious a company as Circle is. Circle though is largely a Coinbase company, they have a better integration to banking system and they have audited and found to have frozen equal amount of USD as their coin. We can count on them for long term and even if they stopped working, we maybe able to get our dollars.

USDC is like USDT, its value is always guaranteed by USD. So you can rest assured and use it, the liquidity of USDC is not as much as USDT but it is still enough for you to trust and use it.

Do you know DAI? I do think DAI is currently by far one of the best stable coins since it is decentralised and can not be printed without any securities. In my opinion it is worth to check it out if you need a stable coin

Imagine having a money printing machine you could use at any given time to print any given amounts of USD bills.
Now imagine having a digital USD and a supply that costs literally $0 to increase or decrease to your willing.

Besides a short term "safe" spot in case of parabolic price chances, it's really a double-risk. If you want to go that way, you'd be better off holding some USD bills instead.

As far as I know, USDC is created by Coinbase and they are responsible for it. And 1 USDC = 1 USD and it is exactly the same as USDT. You can safely use it in this market and I believe that you will never have any problems with it.

I know some people like to harp on Coinbase but they've done a great job getting people into Crypto. Heck, got me into it and easily able to get family and friends at the very least...started. That's what it will take for this to take off.

It is just one of many stable coins. Stable coins are always centralised. They are in most cases a tokens issued on some asset platforms.  Trump have nothing to do with stable coin being worth $1, but he has a lot to do with how much bread you will be able to buy fro that $1 stable coin.

Why do you think its value should not be one dollar? If they have one dollar for each coin in circulation then that is its fair value, now you could be right if this was not the case and they were lying about the number of dollars they have to back their coins but it seems that so far they are telling the truth, however stable coins are not really meant to be used as a long term way to store your money because as we know a centralized party like a government or an exchange could always change their polices and devalue their coins if that is what they want and you will lose money as a result of this.

If that is true, USDC is probably the most reliable stabecoin in the market. Perhaps its reliability surpasses the majority of stabecoin on the market today, and it is more reliable than gold-backed coins on the market.

I think USDT is still more reliable and used by more people. USDC is just an alternative, and there aren't too many people using this coin. However, USDC is more secure and doesn't have a lot of Fud, so I believe this would be a good choice if you like keeping this stable coin. I rarely use USDC and usually only use USDT to trade or switch to fiat.