Bitcoin Forum

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Although i am a pro stablecoin person but i do not think there is need of so many different stablecoins, ideally we just need 2 or 3 transparent stablecoins otherwise scammers can also exploit this  sector and fome up with their own stablecoin and by selling those coins to innocent people they can silently exit so i think there is high need of transparency and a regular especially for stablecoin sector.

Wow, that's a very informative post.

There is a lot of fuzz about stable coins... However, I like to stay away from them.

For the company, it is amazing to create a stable coin, even if it is backed 1:1 with USD or gold etc... Because whoever buys a stable coin is lending money to a company with zero interest rate.
It is like a certificate of deposit (https://www.investopedia.com/terms/c/certificateofdeposit.asp), but with zero interest rate.

You pay 1 dollar for each token, and the company promises to pay back that debt of 1 dollar for each token whenever you want. It is much worse than storing cash under your sofa (even riskier, because those companies may simple not pay for numerous reasons).

They might be useful for trading and for people who live in very repressive countries where it is very hard to buy USD... but even though I would still prefer to buy USD than USDT or USDC (and I live in a repressive country where it is very hard to buy USD)

Looks like in future stablecoins are going to be big, I have seen a lot of unions and partnerships being come up and in future all these stablecoins will have a big role to play in decentralized finance sector as well. Also i have seen global conferences surrounding around stablecoin economy andalso some projects are coming ip to promote and stimulate the usage and growth of stablecoins.

You create another big thread, Ratimov, so thank you.

Among all that companies stay behind those stable coins, I am surprised with BitUSD and Bitshares (BTS). The chart of Bitshares (https://coinmarketcap.com/currencies/bitshares/) looks like the one for a sleepy giant. When will it wake up?

https://bitcasino.io/blog/cryptocurrency/top-10-stablecoins
[UPDATED] PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets (https://bitcointalk.org/index.php?topic=5204055.0)

Blocked accounts in exchanges is a problem as well.

No one should ever leave any money in exchanges. Take a look at this Tether Rich list:

https://i.imgur.com/lAhwTyv.png
https://wallet.tether.to/richlist

Binance is the biggest holder of tether. Imagine what could happen to binance if tether just crash and do not pay no one. Even if you hold eth or btc in binance you might have problems.

To be honest for many years i thought stablecoins are useless or they are similar to money grabbing schemes where developers are selling their fake usd against your real usd, btc or eth. But now i have realized how these stablecoins work and their importance in trading etc and suddenly i have started believing in their authenticity and importance.

What a wonderful guide you have here man, I think this one is all you need to go if you want to understand the basics and the advanced things about the stable coins. I have so many unanswered questions regarding stable coins and I found most of them here. Guys! we need to take our time reading the information provided here it will help us to know about the upcoming trend and I'm talking no other than stable coins. since this will become the new trend when Facebook finally launched their own cryptocurrency which is so much related to this topic.

I'm talking about this coin:


https://upload.wikimedia.org/wikipedia/commons/thumb/4/4b/Libra_logo.svg/1280px-Libra_logo.svg.png

Just looking for a stable coin to transfer some of the funds to the dollar and store them safely, there may be problems with usd in my country. I will divide it into several parts in different stables.